Fuel

“Bunker price (net of expected BAF coverage) +/- 100 USD/tonne +/- USD 0.3bn”

Annual report 2025A · The company itself

“Hydrocarbons, including natural gas, are the primary feedstock for the production of hydrogen, carbon monoxide, and syngas. Energy, including electricity, natural gas, and diesel fuel for delivery trucks, is the largest cost component of our business.”

Annual report 2025A · The company itself

“Consumption of diesel fuel by locomotives accounted for approximately 80% of BNSF Railway’s greenhouse gas (“GHG”) emissions in its baseline year of 2018.”

Annual report unknown yearA · The company itself

“Lubrizol The Lubrizol Corporation (“Lubrizol”), headquartered in Wickliffe, Ohio, is a specialty chemical and performance materials company that manufactures products and supplies technologies for the global transportation, industrial and consumer markets. Lubrizol operates two business segments: Lubrizol Additives, which produces engine lubricant additives, driveline lubricant additives and industrial specialties products; and Lubrizol Advanced Materials, which includes engineered materials (engineered polymers and performance coatings) and life sciences (beauty, personal care, health and home care solutions).”

Annual report unknown yearA · The company itself

“Pilot operates 675 travel center and 82 fuel-only retail locations across the U.S. and in five Canadian provinces, primarily under the names Pilot or Flying J, through 663 company-owned locations, as well as through 94 locations held in unconsolidated joint ventures. Pilot and subsidiaries also conduct wholesale fuel and fuel marketing businesses in the U.S. and sell diesel fuel at over 150 locations in the U.S. and Canada through various third-party arrangements in which Pilot procures and sells diesel fuel to consumers at locations owned by the third parties.”

Annual report unknown yearA · The company itself

“Pilot sold approximately 10.9 billion gallons of fuel (primarily diesel, gasoline and diesel exhaust fluid) in 2025 through its various company-owned retail locations, third-party arrangements and wholesale businesses.”

Annual report unknown yearA · The company itself

“Pilot’s top 10 customers for diesel sales accounted for approximately 10% of total diesel gallons sold in 2025, while Pilot’s top 10 fuel suppliers accounted for approximately 45% of gallons purchased in 2025.”

Annual report unknown yearA · The company itself

“Future increases in the global price of fuel would increase the cost of our cruise ship operations as well as some of our other expenses, such as crew travel, freight and commodity prices.”

Annual report 2025A · The company itself

“Increases in airfares, such as those resulting from increases in the cost of fuel, have in the past and may in the future increase our guests’ overall vacation costs and reduce demand for cruises, as many of our guests depend on airlines to transport them to or from the airports near the ports where our cruises embark and disembark.”

Annual report 2025A · The company itself

“Our financial condition and operations could be adversely impacted if we are unable to service our debt or satisfy our covenants. •Increases in fuel costs, changes in the types of fuel consumed and availability of fuel supply may adversely impact our scheduled itineraries and costs. •The loss of key team members, our inability to recruit or retain qualified shoreside and shipboard team members and increased labor costs could have an adverse effect on our business and results of operations. •We rely on suppliers who are integral to the operations of our businesses.”

Annual report 2025A · The company itself

“The supply and availability of different fuel types in various markets in which we operate have in the past and may in the future experience increased volatility and lead to increased fuel costs and reduced profitability.”

Annual report 2025A · The company itself

“In many cases we can also deliver fuel price savings to our business customers when compared to the retail price of fuel.”

Annual report 2025A · The company itself

“We estimate during the year ended December 31, 2025, approximately 8% of our consolidated revenue was directly influenced by the absolute price of fuel. Approximately 4% of our consolidated revenue during the year ended December 31, 2025 was derived from transactions where our revenue is tied to fuel price spreads.”

Annual report 2025A · The company itself

“The significant volatility in fuel prices can impact these revenues by lowering total fuel transaction purchase amounts and tightening fuel price spreads. We experience fuel price spread contraction when the merchant’s wholesale cost of fuel increases at a faster rate than the fuel price we charge to our Vehicle Payments customers, or the fuel price we charge to our Vehicle Payments customers decreases at a faster rate than the merchant’s wholesale cost of fuel.”

Annual report 2025A · The company itself

“See "Liquidity and capital resources" below for information regarding our crosscurrency interest rate swaps. •Fuel price volatility—Our Vehicle Payments customers use our products and services primarily in connection with the purchase of fuel. Accordingly, our revenue is affected by fuel prices, which are subject to significant volatility. A change in retail fuel prices could cause a decrease or increase in our revenue from several sources, including fees paid to us based on a percentage of each customer’s total purchase.”

Annual report 2025A · The company itself

“•Fuel price spread volatility—A portion of our revenue involves transactions where we derive revenue from fuel price spreads, which is the difference between the price charged to a fleet customer for a transaction and the price paid to the merchant for the same transaction. In these transactions, the price paid to the merchant is based on the wholesale cost of fuel. The merchant’s wholesale cost of fuel is dependent on several factors including, among others, the factors described above affecting fuel prices. The fuel price that we charge to our customer is dependent on several factors including, among others, the fuel price paid to the merchant, posted retail fuel prices and competitive fuel prices.”

Annual report 2025A · The company itself

“The negative macroeconomic environment was driven primarily by unfavorable fuel price spreads of approximately $18 million, unfavorable changes in foreign exchange rates on revenues of $12 million and unfavorable fuel prices of $11 million. Vehicle Payments operating income was $1,074.7 million in 2025, relatively flat compared to the prior year primarily due to organic revenue growth and the impact of our acquisitions discussed above, partially offset by the unfavorable macroeconomic environment and the impact of the disposition of our merchant solutions business.”

Annual report 2025A · The company itself

“Fuel – Our fuel solutions are used by customers to pay and control spending for fuel for vehicles and fleets. Our fuel solutions are fuel type agnostic (fossil fuel, electricity, etc.).”

Annual report 2025A · The company itself

“Vehicle Payments revenues were $2,138.7 million in 2025, an increase of 6.5% compared to the prior year. Vehicle Payments revenues increased primarily due to organic growth of 9% driven by 7% growth in transaction volumes, new sales growth and the impact of acquisitions, which contributed approximately $26 million in revenues. These increases were partially offset by the disposition of our merchant solutions business in December 2024, which lowered revenues by approximately $34 million, and the negative impact of the macroeconomic environment of approximately $42 million.”

Annual report 2025A · The company itself

“The ongoing energy transition away from fossil fuels and the increased adoption of electrified powertrains in some market segments could result in lower demand for current diesel or natural gas engines and components and, over time, reduce the demand for related parts and service revenues from diesel or natural gas powertrains. Furthermore, it is possible that we may not be successful in developing segment-leading electrified powertrains.”

Annual report 2025A · The company itself

“Some of our engine products have been developed with a primary purpose of offering fuel economy improvements, and if energy costs decrease or increase less than expected, demand for these products may likewise decrease.”

Annual report 2025A · The company itself

“Table of Contents Engine Segment Engine segment sales and EBITDA as a percentage of consolidated results were: Years ended December 31, 2025 2024 2023 Percent of consolidated net sales (1) 26 % 28 % 28 % Percent of consolidated EBITDA (1) 26 % 33 % 32 % (1) Measured before intersegment eliminations The Engine segment manufactures and markets a broad range of diesel, natural gas and gasoline-powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy-duty truck, medium-duty truck and bus, light-duty automotive and off-highway markets.”

Annual report 2025A · The company itself

“Our performance obligations vary by contract, but may include advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, electrified power systems with innovative components and subsystems including battery, electric power technologies and parts, construction related projects, maintenance services, commissioning and installation services and extended warranty coverage.”

Annual report 2025A · The company itself

“bunker risk, including bunkers onboard, redelivery commitments”

Annual report 2025A · The company itself

“How We Fly In 2025, we met and exceeded our near-term operational fuel efficiency target of 1% fuel burn savings, by delivering over 55 million gallons of jet fuel savings from operational improvements as compared to 2019 and relative to what we would have used if we had not undertaken any fuel efficiency efforts, not including fleet renewal.”

Annual report 2025A · The company itself

“Because passengers often purchase tickets well in advance of their travel, a significant rapid increase in fuel price could result in the fare charged not covering that increase. At times in the past, we often were not able to increase our fares to offset fully the effect of increases in fuel costs, and we may not be able to do so in the future.”

Annual report 2025A · The company itself

“Our business and results of operations are dependent on the price of aircraft fuel. High fuel costs or cost increases, including in the cost of crude oil, could have a material adverse effect on our results of operations. Our results of operations are significantly impacted by changes in the price of aircraft fuel.”

Annual report 2025A · The company itself

“Fuel costs represented 17%, 19% and 21% of our operating expense in 2025, 2024 and 2023, respectively.”

Annual report 2025A · The company itself

“Significant extended disruptions in the supply of aircraft fuel, including from Monroe, could have a material adverse effect on our business and results of operations. Weather-related events, natural disasters, political disruptions or disputes involving oil-producing countries, changes in governmental policy concerning aircraft fuel production, transportation or taxes, changes in refining capacity or refining priorities, environmental concerns and other unpredictable events may impact crude oil and jet fuel supply and could result in shortages in the future. Shortages in fuel supplies could have negative effects on our business and results of operations.”

Annual report 2025A · The company itself

“Unplanned disruptions or interruptions of production at Monroe's refinery could have a negative impact on our ability to acquire jet fuel needed for our operations. Disruptions or interruptions of production at the refinery could result from various sources including a major accident or mechanical failure, interruption of supply or delivery of crude oil, work stoppages relating to organized labor issues, or damage from severe weather or other natural or man-made disasters, including acts of terrorism. If the refinery were to experience an unexpected interruption in operations, disruptions in fuel supplies could have negative effects on our results of operations and financial condition.”

Annual report 2025A · The company itself

“switching diesel for Hydrotreated Vegetable Oil (HVO) as a secondary transition technique”

Annual report 2025A · The company itself

“We are driving the transition towards lower emission road transport by a combination of efficiency measures and electrification and by switching diesel for Hydrotreated Vegetable Oil (HVO) as a secondary transition technique.”

Annual report 2025A · The company itself

“The cost of bunker was DKK 2.6bn in 2025. Around 94% of the bunker consumption is commercially hedged through bunker clauses (BAF: bunker adjustment factor) in freight customer contracts.”

Annual report 2025A · The company itself

“Factors that could reduce, and in many cases have reduced, our customers’ disposable income include but are not limited to high unemployment or underemployment levels or decline in real wages; inflation; pandemics; higher fuel and energy costs (including those related to the conflict in the Middle East); healthcare, housing and product costs; higher interest rates, consumer debt levels, and tax rates; lack of available credit; tax law changes that negatively affect credits and refunds; and decreases in, or elimination of, government assistance programs or subsidies such as unemployment and food/nutrition assistance programs (for example, changes to the work requirement minimum standards for qualification enacted in 2025, and beginning in January 2026, certain states’ exclusion of historically covered product categories), student loan repayment forgiveness, health insurance subsidies, and economic stimulus payments.”

Annual report 2026A · The company itself

“Any disruption, unanticipated or unusual expense or operational failure related to this process (including, without limitation, inventory receipt and delivery delays; increases in fuel costs; increases in transportation costs, including increased import freight costs, carrier or driver wages (as a result of driver shortages or otherwise); earlier than expected receipt of seasonal inventory leading to capacity constraints which can be exacerbated by unexpected delays in acquiring additional temporary warehouse space sufficient for our inventory needs; a decrease in transportation capacity for overseas shipments or port closures; labor shortages; or work stoppages or slowdowns) could negatively impact sales and profits.”

Annual report 2026A · The company itself

“our decarbonisation efforts are closely linked to the availability and scalability of low-carbon fuels”

Annual report 2025A · The company itself

“These are mainly due to the Group’s dependence on non-renewable energy for transportation and emissions in relation to the production of paper. Decreasing the dependence on fossil fuels in both Elanders’ own fleet of trucks and in freight forwarding services supplied by others and adjusting the choice of energy and materials within the printing operations are two key issues for Elanders, as they make up the greatest sources of greenhouse gas emissions within the Group.”

Annual report 2024A · The company itself

“The major challenge is our large fleet of trucks. Here, we are looking for new solutions including electric trucks and trailers, as well as other green alternatives to diesel such as HVO and hydrogen fuel cells. Costs remain a challenge, but customers are increasingly ready to pay the price to meet their own emissions reduction targets.”

Annual report 2024A · The company itself

“Inflationen påverkar Eltels kostnadsbas, inklusive drivmedels- och materialkostnader.”

Annual report 2024A · The company itself

“Våra tjänster, som innefattar mobilt arbete på olika  använder både fossila bränslen och biobränslen. 14 procent av fordonen är helt elektriska.”

Annual report 2024A · The company itself

“Todellinen, negatiivinen vaikutus Arvoketjun alkupää Lyhyt–pitkä Suurin osa Enersensen omista suorista kasvihuonekaasupäästöistä aiheutuu omien ja alihankkijoiden ajoneuvojen ja koneiden polttoaineen kulutuksesta. Todellinen, negatiivinen vaikutus Oma toiminta Lyhyt–keskipitkä Kasvihuonekaasuja syntyy Enersensen asiakkaiden ja muiden arvoketjun loppupäässä sijaitsevien toimijoiden toiminnoissa.”

Annual report 2025A · The company itself

“Enersensen liiketoiminnan luonteen vuoksi suurin osa kasvihuonekaasupäästöistä syntyy alkupään arvoketjussa teräksen ja betonin tuotannossa. Enersensen suorista kasvihuonekaasupäästöistä merkittävin osa aiheutuu ajoneuvojen ja koneiden polttoainekulutuksesta.”

Annual report 2025A · The company itself

“I juryns motivering nämns bland annat egenskaper hos engcons tredje generationens tiltrotator när det gäller energibesparing.”

Annual report 2024A · The company itself

“Gräv - maskinens produktivitet ökar med i genomsnitt 25 procent o ch upp till 6 000 liter diesel sparas per år vilket motsvarar cirka 16 200 kg koldioxidutsläpp per år. Över maskinens beräknade sjuåriga livscykel minskar det totala koldioxidutsläppet med cirka 113 000 kg.”

Annual report 2024A · The company itself

“Resurs- och tidseffektivt grävande Våra kunder ökar sin lönsamhet genom att • Slutföra projekt 25% snabbare • Minska bränsleanvändningen med upp till 6 000 liter diesel per år • Minska behovet av arbetskraft med minst en manuell arbetare • Minska behovet av upp till 2,2 andra maskiner • Reducera slitage på grävmaskinen med 20-40% Besparing på minst 850 000 SEK per år Säkerhet Teknik skapar säkrare arbetssätt Genom förfinad teknik med synliga och hörbara indikatorer både för förare och övrig personal i kombina tion med minskat behov av att gå in och ut ur förarhytten ökar säkerheten för slutkunden.”

Annual report 2024A · The company itself

“Our ability to meet our labor and purchased transportation needs while controlling related costs is generally subject to numerous external factors, including the availability of qualified service providers and persons in the markets where we and our service providers operate and unemployment levels within these markets, prevailing and competitive wage rates and other benefits, health and other insurance costs, inflation, fuel and energy prices and availability, behavioral changes, adoption of new or revised employment and labor laws and regulations (including increased minimum wage requirements) or government programs, safety, and security levels of our operations, our reputation within the labor and transportation markets, changes in the business or financial soundness of service providers, interest in contracting with FedEx, and the effect of a widespread public health crisis.”

Annual report 2026A · The company itself

“While we have market risk for changes in the price of jet and vehicle fuel, this risk is largely mitigated by our indexed fuel surcharges. For additional discussion of our indexed fuel surcharges, see the “Results of Operations and Outlook — Consolidated Results — Fuel” section of “Item 7.”

Annual report 2026A · The company itself

“Fuel Supplies and Costs During 2026, Federal Express purchased jet fuel from various suppliers under contracts that vary in length and which provide for estimated amounts of fuel to be delivered. The fuel represented by these contracts is purchased at market prices. We do not have any jet fuel hedging contracts.”

Annual report 2026A · The company itself

“The following table sets forth Federal Express’s costs for jet fuel and its percentage of FedEx Corporation consolidated revenues for the last five fiscal years: Fiscal Year Total Jet Fuel Costs (in millions) Percentage of Consolidated Revenue 2026 $ 3,050 3.2 % 2025 2,832 3.2 2024 3,598 4.1 2023 4,515 5.0 2022 3,867 4.1 Most of Federal Express’s vehicle fuel needs are satisfied by retail purchases with various discounts.”

Annual report 2026A · The company itself

“Historically, our exposure to foreign currency fluctuations is more significant with respect to our revenue than our expenses, as a significant portion of our expenses are denominated in U.S. dollars, such as aircraft and fuel expenses.”

Annual report 2026A · The company itself

“As of May 31, 2026, Federal Express operated approximately 82,000 motorized vehicles in its global network and also conducts certain linehaul and pickup-and-delivery operations primarily with approximately 100,000 motorized vehicles owned or leased by independent service providers.”

Annual report 2026A · The company itself

“To date, we have been mostly successful in mitigating over time the effect of higher fuel costs through our indexed fuel surcharges, which help offset the negative effect of increased fuel prices.”

Annual report 2026A · The company itself

“We must purchase large quantities of fuel to operate our vehicles, and the price and availability of fuel is beyond our control and can be highly volatile.”

Annual report 2026A · The company itself

“While we have market risk for changes in the price of vehicle fuel, this risk is largely mitigated by our indexed fuel surcharges. For additional discussion of our indexed fuel surcharges, see “— Results of Operations — Fuel.””

Annual report 2026A · The company itself

“Hallituksen toimintakertomus Tilinpäätös Muut 227 Tilintarkastuksen kannalta keskeinen seikka Miten seikka on huomioitu tilintarkastuksessa Hyödykejohdannaisten käypä arvo ja suojauslaskenta Katso liitetieto 4, 7, 15 ja 16 tilinpäätöksessä. • Fortumin liiketoiminta on alttiina hintojen vaihtelulle sekä energian tuotannossa, siirrossa että myynnissä käytettävien hyödykkeiden saatavuudelle. Pääasiallisesti riskit liittyvät sähkön hintaan ja volyymiin, päästöjen hintaan sekä polttoaineiden hintaan että saatavuuteen.”

Annual report 2025A · The company itself

“9 Materiaalit ja palvelut milj. euroa 2025 2024 Ostot 1) 2 271 2 531 Ostot osakkuus- ja yhteisyrityksiltä 581 626 Muut 49 138 Yhteensä 2 901 3 295 1)Ostot sisältävät uusiutuvan energian sertifikaattien ostoja 45 miljoonaa euroa (2024: 66) ja CO2-päästöoikeuksien ostoja 57 miljoonaa euroa (2024: 67). Ostot koostuvat pääosin sähkön ja kaasun hankinnasta vähittäismyyntiä ja lämmön tuotantoa varten sekä polttoaineista, joita käytetään sähkön ja lämmön tuotannossa.”

Annual report 2025A · The company itself

“Our costs are driven by the location, grade and nature of our ore bodies, and the level of input costs, including energy, labor and equipment.”

Annual report 2025A · The company itself

“Table of Contents SOURCES AND AVAILABILITY OF ENERGY, NATURAL RESOURCES AND RAW MATERIALS Our copper mining operations require significant amounts of energy, principally diesel, electricity, coal and natural gas, most of which is obtained from third parties under long-term contracts. In 2025, energy represented 15% of our copper mine site operating costs, including purchases of approximately 275 million gallons of diesel fuel; approximately 8,600 gigawatt hours of electricity at our U.S. and South America copper mining operations (we generate all of our power at our Indonesia mining operation); approximately 550 thousand metric tons of coal for our coal power plant in Indonesia; and approximately 3 million MMBtu (million British thermal units) of natural gas at certain of our U.S. mines.”

Annual report 2025A · The company itself

“Prices of consumables used in our operations (such as natural gas, diesel, coal, other sources of energy, ammonium nitrate, chemical reagents, including sulfuric acid, and steel-related products), certain components, equipment, parts and other operating supplies and services can fluctuate in price, impacting the costs of production at our operations and the costs of development projects.”

Annual report 2025A · The company itself

“Our operations require significant energy, much of which is currently from fossil fuel sources and is obtained from third parties under long-term contracts. Energy represented 15% of our copper mine site operating costs in 2025, and based on currently available information and projected operations, is expected to approximate 17% in 2026. The principal sources of energy consumption at our mining operations are: diesel fuel, which powers mine trucks 70 Table of Contents and other transportation equipment; purchased electricity, which powers core facilities and certain on-site metal processing operations; and coal and natural gas, which provide electricity at certain operations.”

Annual report 2025A · The company itself

“TCE is therefore impacted by both movements in operating revenues, as determined by market freight rates, and voyage expenses, which are primarily comprised of bunker expenses, port charges and canal tolls. In 2024, average market quoted TCE rates decreased for VLCCs, Suezmax tankers and LR2 product tankers as compared to 2023, see “Market Overview and Trend Information” above. The net decrease in average quoted market rates led to a $136.7 million decrease in cash provided by operating activities for the year ended December 31, 2024.”

Annual report 2024A · The company itself

“For vessels on voyage charters, fuel oil, or bunkers, is a significant, if not the largest, expense. Changes in the price of fuel may adversely affect our profitability to the extent we have vessels on voyage charters.”

Annual report 2024A · The company itself

“We use many different commodities for our business, including cocoa products, sugar, corn products, dairy products, wheat products, peanuts, almonds, natural gas, and diesel fuel.”

Annual report 2025A · The company itself

“We use futures and options contracts and other commodity derivative instruments in combination with forward purchasing of cocoa products, sugar, corn products, certain dairy products, wheat products, natural gas and diesel fuel primarily to mitigate price volatility and provide visibility to future costs within our supply chain.”

Annual report 2025A · The company itself

“Production costs from raising turkeys are subject to fluctuations in input costs, including grain prices and fuel costs.”

Annual report 2025A · The company itself

“▪Unfavorable economic conditions may lead customers and consumers to delay or reduce purchases of the Company’s products. ▪The imposition of tariffs, quotas, trade barriers, or other restrictions could increase the cost of key inputs or reduce their availability.”

Annual report 2025A · The company itself

“Commodity Price Risk: The Company is subject to commodity price risk through grain, lean hog, natural gas, and diesel fuel markets.”

Annual report 2025A · The company itself

“Commodity Derivatives: The Company’s commodity derivatives represent futures, swaps, and options contracts used in its hedging or other programs to offset price fluctuations associated with purchases of grain, natural gas, diesel fuel, lean hogs, and pork, and to minimize the price risk assumed when forward-priced contracts are offered to the Company’s commodity suppliers.”

Annual report 2025A · The company itself

“We have significant exposure to energy costs, in particular gas, electricity and other fuel costs. Energy prices have fluctuated dramatically in the past and may continue to increase and/or fluctuate in the future.”

Annual report 2025A · The company itself

“We have a fuel surcharge revenue program in place with the majority of our customers, which has historically enabled us to recover the majority of higher fuel costs. Most of these programs automatically adjust weekly depending on the cost of fuel. However, there can be timing differences between a change in our fuel cost and the timing of the fuel surcharges billed to our customers.”

Annual report 2025A · The company itself

“The price and availability of diesel fuel are subject to fluctuations due to changes in the level of global oil production, seasonality, weather, and other market factors. Historically, we have been able to recover a majority of fuel-price increases from our customers in the form of fuel surcharges. We cannot predict the extent to which volatile fluctuations in fuel prices will continue in the future or the extent to which fuel surcharges could be collected to offset fuel-price increases.”

Annual report 2025A · The company itself

“Rapid changes in fuel costs could impact our periodic financial results. Fuel costs can be very volatile.”

Annual report 2025A · The company itself

“Logistics and other transportation-related costs have a significant impact on our earnings and results of operations. We use multiple forms of transportation, including ships, trucks, railcars, and third-party carriers, to bring our products to market. Disruption to the timely supply of these services or increases in the cost of these services for any reason, including availability or cost of fuel, regulations affecting the industry (including changes in tariffs), labor shortages in the transportation industry, service failures by third-party service providers, carrier capacity, accidents, natural disasters, inflation, geopolitical conflicts, a pandemic illness, or a cybersecurity breach or attack, may impact our ability to obtain reliable transportation for products.”

Annual report 2026A · The company itself

“Energy and Transportation Costs In addition to ingredients and packaging costs, we are significantly impacted by changes in fuel costs, which can also fluctuate substantially, due to the large truck fleet we operate in our distribution operations (reflected within SG&A expenses) and the energy costs consumed in the production process (reflected within cost of sales).”

Annual report 2025A · The company itself

“The raw materials and other supplies, including agricultural commodities (such as coffee, apples, and corn), fuel and packaging materials, transportation, and other supply chain inputs that we use for the manufacturing, production, and distribution of our products are subject to price volatility and fluctuations in availability caused by many factors, including: changes in supply and demand; supplier capacity constraints; inflation; weather conditions (including the effects of climate change); natural disasters; disease or pests; agricultural uncertainty; cost increases in farm inputs; health epidemics, pandemics, or other contagious outbreaks; labor shortages, strikes, or work stoppages; changes in or the enactment of new laws and regulations; governmental actions or controls (including import/export restrictions, such as new, increased, or retaliatory tariffs, sanctions, quotas, or trade barriers); port congestion or delays; transport capacity constraints; cybersecurity incidents or other disruptions; political uncertainties; acts of terrorism; governmental instability; speculation in global trading of commodities, such as coffee; or fluctuations in foreign currency exchange rates.”

Annual report 2025A · The company itself

“We are also exposed to changes in oil prices, including diesel fuel, which influence both our packaging and transportation costs.”

Annual report 2025A · The company itself

“In addition, we purchase and use significant quantities of plastics, resin, cardboard, glass, paper and metal to package our products, and we use electricity, diesel fuel, and natural gas in the manufacturing and distribution of our products.”

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

“Raw Materials and Energy Costs – Energy is the single largest cost item in the production and distribution of industrial gases. Most of Linde’s energy requirements are in the form of electricity, natural gas and diesel fuel for distribution.”

Annual report 2025A · The company itself

“Most of Linde’s energy requirements are in the form of electricity, natural gas and diesel fuel for distribution. The company mitigates electricity, natural gas, and hydrocarbon price fluctuations contractually through pricing formulas, surcharges, cost pass–through and tolling arrangements.”

Annual report 2025A · The company itself

“Its primary products in its industrial gases business are atmospheric gases (oxygen, nitrogen, argon, and rare gases) and process gases (hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene).”

Annual report 2025A · The company itself

“Highlights of sustaining capital projects completed or substantially completed during 2024 include implementation of a mine dispatch system, the upgrade of the surface haul road, replacement of the concrete batch plant, primary crusher upgrade, camp refurbishment, and improvements to the sewage treatment plants.  Significant progress was made on preliminary works for future tailings storage facility (“TSF”) expansion.  Four additional diesel-powered generators were purchased, and the units are expected to be commissioned by the end of the first quarter of 2025.”

Annual report 2024A · The company itself

“Both metrics were impacted by higher gold prices resulting in higher royalties and profit sharing for which the portion attributable to employees is recorded in operating costs as well as higher diesel consumption due to the operation of our existing power generation units to reduce our power consumption from the national grid.  Income from mining operations was $215 million and the Company generated adjusted free cash flow of $164 million from operations, or $0.68 per share.  EBITDA and net income were $232 million and $129 million, respectively.”

Annual report 2024A · The company itself

“The impacts of climate change may lead to changes in the price and availability of goods and services required for Fruta del Norte’s operations, which depend on the regular supply of electricity, consumables such as diesel, and other supplies to operate efficiently. The Company’s operations also depend on service providers to transport these consumables and other goods to Fruta del Norte and to transport doré and concentrate produced by the Company to refiners and smelters, respectively. The effects of extreme weather described above and changes in legislation and regulation on the Company’s suppliers and their industries may cause limited availability or higher price for these goods and services, which could result in higher costs or production disruptions.”

Annual report 2024A · The company itself

“Muutokset Luotean asiakkaiden kilpailutusperusteissa kohti yksinomaisesti hinnoitteluperusteista valintaa voivat vaikuttaa yhtiön ja koko markkinan kokoon negatiivisesti. • Markkinoilla ja markkinaympäristössä tapahtuvat muutokset, kuten materiaalien hintojenmuutokset voivat vaikuttaa liiketoimintoihin ja liiketoiminnan kasvuun negatiivisesti.”

Annual report 2025A · The company itself

“• Muutokset ilmastolainsäädäntöön, kansallisissa ja kansainvälisissä tavoitteissa ja polittisessa ohjauksessa voivat hidastaa vähähillisen kalustoteknologian kehitystä tai vaikuttaa negatiivisesti polttoaineiden hintaan tai päästöihin. • Luotean omat ilmastotavoitteet, toimenpiteet niiden edistämiseksi sekä toimitusketjulle osoitetut erilliset ilmastotavoitteet ovat linjassa skenaariotarkastelun havaintojen kanssa.”

Annual report 2025A · The company itself

“Näihin liittyvät myös Luotean olennaiset siirtymäriskit, jotka ovat viivästykset vähäpäästöisen ja sähkökäyttöisen raskaankaluston teknologisessa kehityksessä ja uusiutuvien polttoaineiden saatavuus ja hinta pitkällä aikavälillä.”

Annual report 2025A · The company itself

“Luotea altistuu liiketoiminnassaan materiaalien, raaka-aineiden ja tuotantohyödykkeiden hinnoittelun ja toimitusten vaihteluille.”

Annual report 2025A · The company itself

“Hankintariskit • Polttoaine-, sähkö- ja muiden hankintakustannusten nousu voi heikentää Luotean kannattavuutta. • Hankintaketjun hallinta ja kaluston käyttövoimien hajauttaminen sekä hinnoittelun ja tehokkuuden parantaminen. • Asiakassopimukset, jotka mahdollistavat hinnankorotukset tuotantokustannusten noustessa.”

Annual report 2025A · The company itself

“Fluctuating diesel fuel pricing also affects transportation costs, primarily through fuel surcharges in the Company’s long-haul distribution network.”

Annual report 2025A · The company itself

“Our businesses require a continued supply of diesel fuel, natural gas, coal, petroleum coke and other energy. Prices and availability for these inputs are influenced by global and regional supply-demand dynamics, refining and generation capacity, weather and other physical risks, transportation and labor constraints, geopolitics and trade policy, regulatory changes and supplier operating issues.”

Annual report 2025A · The company itself

“Our Specialties business also requires significant amounts of natural gas, coal and petroleum coke, and financial results are negatively affected by increases in fuel prices or shortages.”

Annual report 2025A · The company itself

“Generally, the significant components of cost of revenues for the aggregates product line are (1) labor and benefits; (2) depreciation, depletion and amortization; (3) internal freight; (4) repairs and maintenance; (5) external freight; (6) supplies; (7) energy; and (8) contract services. In 2025, these categories represented 86% of the aggregates product line's total cost of revenues.”

Annual report 2025A · The company itself

“Typically, diesel fuel represents the single-largest component of energy costs for the Building Materials business. The average cost per gallon for continuing operations was $2.58 and $2.80 in 2025 and 2024, respectively.”

Annual report 2025A · The company itself

“We also rely heavily on third-party truck and rail transportation to ship coal, natural gas and other fuels to our plants. Any significant delays, disruptions or the non-availability of our transportation support system could negatively affect our operations.”

Annual report 2025A · The company itself

“Transportation operations are subject to capacity constraints, high fuel costs and various hazards, including extreme weather conditions and slowdowns due to labor strikes and other work stoppages. In Texas, we compete for third-party trucking services with operations in the oil and gas fields, which can significantly constrain the availability of those services to us.”

Annual report 2025A · The company itself

“Production costs in the Building Materials business are also sensitive to energy and raw material prices, both directly and indirectly. Diesel fuel, natural gas, coal and other consumables change production costs directly through consumption or indirectly by increased energy-related input costs, such as steel, explosives, tires and conveyor belts.”

Annual report 2025A · The company itself

“Energy Costs Energy costs, including diesel fuel, natural gas, electricity, coal and petroleum coke, represent significant production costs of the Company. The Company may be unable to pass along increases in the costs of energy to customers in the form of price increases for the Company’s products.”

Annual report 2025A · The company itself

“Likewise, increased trade tension between the United States and other countries, including as a result of the imposition of tariffs, could lead to a decrease in cross border-travel, result in us paying higher prices for imported goods at our properties and result in countries adopting protectionist legislation that could impair our international operations.”

Annual report 2025A · The company itself

“Additionally, higher electricity and gasoline prices that affect our customers may result in reduced visitation to our properties and a reduction in our revenues.”

Annual report 2025A · The company itself

“Raw Materials and Packaging We purchase and use large quantities of commodities, including cocoa, dairy, wheat, edible oils, sugar and other sweeteners, flavoring agents and nuts. In addition, we purchase and use significant quantities of packaging materials to package our products and natural gas, fuels and electricity for our factories and warehouses.”

Annual report 2025A · The company itself

“By 2030, the IEA NZE scenario projects that the carbon price in Norway will likely reach approximately 130 to 150 EUR per tonne of CO₂. This anticipated rise is driven by the need to intensify efforts to meet intermediate climate targets and push for deeper emission reductions. The significant increase in carbon pricing will directly impact the cost of diesel, a major fuel used by Mowi for powering feed barges and other operational equipment.”

Annual report 2024A · The company itself

“We may be negatively affected by energy prices. Fuel and energy costs have a significant impact on our operations. Volatility in energy prices could have a significant effect on a variety of items including, but not limited to: the economy; demand for transportation services; business related to the energy sector, including crude oil, natural gas, and coal; fuel prices; and, fuel surcharges, each of which could have a material impact on our business and results of operations.”

Annual report 2025A · The company itself

“We consumed approximately 366 million gallons of diesel fuel in 2025.”

Annual report 2025A · The company itself

“Brændstofforbrug til firmabiler, opgøres på baggrund af fakturaer modtaget fra vores leasingpartner eller tankstationer”

Annual report 2025A · The company itself

“CO e-reduktion (E1)  Logistik og transportservices i Danmark og Sverige Vi oplever stadig flere kunder der stiller krav om at der er udarbejdet en plan for udfasning af fossile køretøjer hos deres leverandører. Det er koncernens mål at reducere emissioner forbundet med transport og logistikservices i Danmark og Sverige og derfor investerer vi i vedvarende energiteknologier, for at nå både de korte og langsigtede bæredygtighedsmål.”

Annual report 2025A · The company itself

“Elementer i vores forretningsmodel og -strategi, der vedrører bæredygtighedsforhold Last Mile værdikæden er afhængig af papirressourcer og transport.”

Annual report 2025A · The company itself

“Dialogen med leverandører har ført til et styrket fokus på bæredygtige distributionsmetoder og mulige CO e-reduktioner i værdikæden • Arbejdstagere i værdikæden, omfatter vores underleverandører i Last Mile, herunder vognmænd og mindre selvstændige erhvervsdrivende.”

Annual report 2025A · The company itself

“The current macroeconomic environment is uncertain with volatile energy and fuel prices, inflationary pressure, fluctuations in foreign exchange rates with a weakening local Norwegian is subject to corporate governance reporting requirements according to the Norwegian Accounting Act, section 2-9, the Norwegian Code of Practice for Corporate Governance and the Continuing Obligations of Listed Companies as approved by the Oslo Stock Exchange Oslo Børs.”

Annual report 2024A · The company itself

“Expenses for jet fuel represent a substantial part of the Group’s operating costs, and fluctuations in the price of jet fuel influence the projected cash flows and operating expenses. The objective, for the jet fuel price risk management policy, is to safeguard against significant and sudden increases in jet fuel prices, whilst retaining access to price reductions.”

Annual report 2024A · The company itself

“The Company is dependent upon suppliers, predominantly from the EU and the US, for the sourcing and provision of aircraft, aviation fuels, components and related aviation services.”

Annual report 2024A · The company itself

“Repercussions from fuel blend regulation Transition risk The introduction of an EU-wide SAF blending mandate, aimed at reducing emissions from aviation, is likely to increase the price of jet fuel in the EU compared to other regions. The added fuel cost can both lower the profit margin of the Company and reduce demand in the medium term, depending on the price sensitivity of consumers and the competitive situation, which impact the Company’s ability to transfer the increased costs to customers.”

Annual report 2024A · The company itself

“Fuel consumption from crude oil and petroleum products (MWh) NA- 9,473,056 3.”

Annual report 2024A · The company itself

“Energy consumption from renewable sources including biomass Energy consumption from renewable sources includes SAF.”

Annual report 2024A · The company itself

“Many of our passengers and crew depend on scheduled commercial airline services to transport them to ports of embarkation for our cruises. Increases in the price of airfare due to increases in fuel prices, fuel surcharges, changes in commercial airline services as a result of health and safety events, strikes, airspace congestion or air traffic control and other airline- or airport-related staffing shortages, weather or other events, or the lack of availability due to schedule changes or increased airline bookings, have and could adversely affect our ability to transport guests and crew and thereby increase our cruise operating expenses which, in turn, have had and could have an adverse effect on our financial condition and results of operations.”

Annual report 2025A · The company itself

“Changes in fuel prices and the type of fuel we are permitted to use and/or other cruise operating costs would impact the cost of our cruise ship operations and our hedging strategies may not protect us from increased costs related to fuel prices.”

Annual report 2025A · The company itself

“Fuel expense is a significant cost for our Company. Increases in fuel costs are expected as regulatory requirements take effect and alternative fuel demand outpaces infrastructure deployment, and our strategies may not fully offset these pressures.”

Annual report 2025A · The company itself

“Fuel expense, as a percentage of our total cruise operating expense, was 12.0% for the year ended December 31, 2025 and 12.3% for the year ended December 31, 2024.”

Annual report 2025A · The company itself

“We have fuel surcharge programs that are designed to mitigate the financial statement impact of changes in the price of diesel fuel. Our fuel surcharges are generally indexed to fuel prices published by the U.S. Department of Energy (the “DOE”) that reset each week and are one of many components that we use to determine the overall price for our transportation services.”

Annual report 2025A · The company itself

“We may be adversely impacted by fluctuations in the availability and price of diesel fuel.”

Annual report 2025A · The company itself

“Diesel fuel is a critical component of our operations and a significant operating expense for our business. Fluctuations in prices and availability of diesel fuel could have a material adverse effect on our operating results.”

Annual report 2025A · The company itself

“Diesel fuel prices and fuel availability can be impacted by factors beyond our control, such as natural or man-made disasters; adverse weather conditions; political events; disruption or failure of technology or information systems; price and supply decisions by oil producing countries and cartels; effect of any international conflicts; armed conflict; terrorist activities; world supply and demand imbalances; changes in refining capacity; changes in governmental policy concerning fuel production, transportation, taxes or marketing; tariffs; sanctions; public and investor sentiment; and quotas or other changes to trade agreements.”

Annual report 2025A · The company itself

“We do not hedge against the risk of diesel fuel price increases. An increase in diesel fuel prices or diesel fuel taxes, or any change in federal or state regulations that results in such an increase, could have a material adverse effect on our operating results.”

Annual report 2025A · The company itself

“Diesel Fuel Availability and Cost We depend heavily upon the availability and quality of diesel fuel, including alternative fuel types, to provide our transportation services. We maintain fuel storage and pumping facilities at certain service center locations as the primary source for fueling our fleet, and we utilize over-the-road fueling options at retail locations as necessary.”

Annual report 2025A · The company itself

“Inflation impacts the cost to operate our business by putting upward pressure on wages, benefits, real estate, equipment, fuel, parts and repairs, insurance, and other general and miscellaneous expenses.”

Annual report 2025A · The company itself

“We are also exposed to commodity price risk related to diesel fuel prices, and we manage our exposure to that risk primarily through the application of fuel surcharges to our customers.”

Annual report 2025A · The company itself

“Fuel, electricity and natural gas are also important commodities for our businesses due to their use in our and our business partners’ 4 Table of Contents facilities and the vehicles delivering our products.”

Annual report 2025A · The company itself

“Renteomkostninger er fortsat påvirket af det højere renteniveau.”

Annual report 2025B · From the report

“Det omfatter blandt andet opstrømsudledninger fra produktion og transport af diesel, benzin, naturgas og fjernvarme. Beregningen foretages med udgangspunkt i faktiske forbrugsdata for regnskabsperioden og multipliceres med emissionsfaktorer fra Klimakompasset.”

Annual report 2025A · The company itself

“Det första steget har bolaget redan tagit genom att investera i nya lok med så kallade steg V-motorer som innehar bättre miljöprestanda än vanliga diesel.”

Annual report 2024A · The company itself

“För entreprenad- special- och beredskapstransporter används både egna och hyrda diesellok. Det senaste loket Effishunter, som har så kallade Steg V-motorer med bättre miljöprestanda, har Railcare drivit på för att etablera i Sverige. järnväg måste stärkas, samtidigt som det den hållbara omställningen, ger goda möjligheter för behövs investeringar i ny infrastruktur.”

Annual report 2024A · The company itself

“Unik erfarenhet & kompetens Investeringar (maskiner, lok, verkstäder) Transport Miljövänliga och leveranssäkra transporter på järnvägen, med egna lok- och vagnsverkstäder.”

Annual report 2024A · The company itself

“Increases in the cost of fuel or petrochemicals increase our operating expenses, and we may not be able to recover such cost increases from our customers. We depend on fuel purchased in the open market to operate our collection and transfer trucks and other equipment used for collection, transfer, disposal and other environmental services.”

Annual report 2025A · The company itself

“At current consumption levels, a twenty-cent per gallon change in the price of diesel fuel changes our fuel costs by approximately $26 million on an annual basis. Offsetting these changes in fuel expense would be changes in our fuel recovery fee charged to our customers. At current participation rates, we believe a twenty-cent per gallon change in the price of diesel fuel changes our fuel recovery fee by approximately $42 million.”

Annual report 2025A · The company itself

“The provision of environmental services, including the operation of our facilities, a substantial fleet of trucks and other environmental services-related assets, involves risks. These risks include, among others, the risk of truck accidents, equipment defects, malfunctions and failures, improper use of dangerous equipment, the release of hazardous substances, fire and explosion, any of which could result in environmental liability, personal injury, loss of life, business interruption or property damage or destruction.”

Annual report 2025A · The company itself

“In particular, disruption of the labor market and supply chains related to vehicles, especially trucks and the mechanical and electrical components necessary to service them, negatively impacts our ability to provide services.”

Annual report 2025A · The company itself

“Increases in fuel prices have and could continue to materially and adversely affect our business as fuel prices impact not only our fuel costs, but also some of our other expenses, such as crew travel, freight, and commodity prices.”

Annual report 2025A · The company itself

“Fuel Price Risk Our exposure to market risk for changes in fuel prices relates primarily to the consumption of fuel on our ships. Fuel cost, net of the financial impact of fuel swap agreements, as a percentage of our total revenues, was approximately 6.4% in 2025, 7.0% in 2024 and 8.3% in 2023. We use fuel swap agreements to mitigate the financial impact of fluctuations in fuel prices.”

Annual report 2025A · The company itself

“Price fluctuations in, or shortages in the availability of, energy, transportation and raw materials could adversely affect our business.”

Annual report 2025A · The company itself

“Other key cost drivers include employee benefit expenses, largely determined by workforce size, and shipping and handling costs, which are generally affected by fuel prices and overall labor inflation.”

Annual report 2025A · The company itself

“Våra infrastruktur- och produktionsmaskiner drivs huvudsakligen av el, men även bränsleolja och diesel används inom gruvdrift, grävning och transporter. Propangas används under vintern för uppvärmning av gruvans ventilationsluft.”

Annual report 2024A · The company itself

“Extreme weather conditions, including increases in the frequency, severity, or duration of severe weather events (whether or not caused by anthropogenic climate change), can disrupt air travel from time to time, ground planes, damage equipment and increase maintenance costs, cause delays and cancellations or other network disruptions, require implementation of weight limitations due to increased temperatures, increase turbulence-related injuries, cause disruptions in staffing, cause increases in fuel consumption to avoid such weather, disrupt the Company’s supply chains (including fuel, parts, and service provider disruptions), and otherwise adversely affect the Company’s assets, operations, and infrastructure.”

Annual report 2025A · The company itself

“The Company made certain assumptions in developing its strategic plans and initiatives related to, for example, customer demand (in light of changing economic conditions), fuel costs, delivery of aircraft, aircraft certification approval timelines, labor market constraints and related costs, supply chain constraints, inflationary pressures, voluntary or mandatory groundings of aircraft, its network, competition, market consolidation, and other macroeconomic and geopolitical factors.”

Annual report 2025A · The company itself

“The Company's business can be significantly affected by the availability of jet fuel, fuel prices, and volatility of fuel prices and the Company's operations are subject to disruption in the event of any delayed supply of fuel; therefore, the Company's strategic plans and future profitability are likely to be affected by fuel availability, price increases, and fuel price volatility. Airlines are inherently dependent upon energy to operate, and jet fuel and oil represented approximately 19 percent of the Company's operating expenses for 2025.”

Annual report 2025A · The company itself

“Proposal or adoption of such obligations could increase the demand for and the costs of the limited supply of SAF currently available and could result in increased costs of fossil jet fuel.”

Annual report 2025A · The company itself

“For example, the Company plans to diversify its sources of jet fuel through increasing the volumes of SAF in its operations. The cost of SAF may be prohibitively expensive without appropriate government support, policies, and incentives (including tax credits).”

Annual report 2025A · The company itself

“Failures or delays in sufficient SAF production and delivery, or ceased operations or bankruptcies of the Company’s counterparties, could inhibit the Company’s ability to meet its stated goals.”

Annual report 2025A · The company itself

“Fuel consumption from crude oil and petroleum products (MWh) 1,717* 545 3. Fuel consumption from natural gas (MWh) 245,130 252,327 4.”

Annual report 2025A · The company itself

“Kraftigt stigande drivmedelspriser, orsakat av geopolitiska oroligheter, störningar i leveranskedjor eller andra globala händelser, är ytterligare exempel på kortsiktiga finansiella risker.”

Annual report 2024A · The company itself

“Klimatförändringar Svedbergs Groups största utsläpp av växthusgaser kommer från inköpta varor, användning av produkter hos kund och från transporter.”

Annual report 2024A · The company itself

“First, the high cost of fuel can negatively impact consumer confidence and discretionary spending and thus reduce the frequency and amount spent by consumers for food-away-from-home purchases.”

Annual report 2026A · The company itself

“The cost of fuel affects the prices we pay for products, as well as the costs we incur to deliver products to our customers. We require significant quantities of fuel for our delivery vehicles and are exposed to the risk associated with fluctuations in the market price for fuel.”

Annual report 2026A · The company itself

“Fuel Price Risk Due to the nature of our distribution business, we are exposed to potential volatility in fuel prices. The price and availability of diesel fuel fluctuates due to changes in production, seasonality and other market factors are generally outside of 63 our control.”

Annual report 2026A · The company itself

“Second, the high cost of fuel can increase the price we pay for product purchases, and we may not be able to pass on these costs fully to our customers. Third, increased fuel costs impact the costs we incur to deliver products to our customers.”

Annual report 2026A · The company itself

“Any of the following could also affect the competitiveness of our transportation services for some or all of our commodities, which could have a material adverse effect on our results of operations, financial condition, and liquidity: (a) improvements or expenditures materially increasing the quality or reducing the costs of these alternative modes of transportation, such as autonomous or more fuel efficient trucks, (b) legislation that eliminates or significantly increases the existing size or weight limitations applied to motor carriers, or (c) legislation or regulatory changes that impose operating restrictions or requirements on railroads or that adversely affect the profitability of some or all railroad traffic.”

Annual report 2025A · The company itself

“As fuel prices fluctuate, our fuel surcharge programs trail such fluctuations in fuel prices by approximately two months and are from time-to-time a significant source of quarter-over-quarter and year-over-year volatility, particularly in periods of rapidly changing prices.”

Annual report 2025A · The company itself

“Alternatively, lower fuel prices could have a negative impact on certain commodities we transport, such as coal and domestic drilling-related shipments, which could have a material adverse effect on our results of operations, financial condition, and liquidity.”

Annual report 2025A · The company itself

“Therefore, if any of our two domestic suppliers of locomotives discontinues manufacturing locomotives, supplying parts, or providing maintenance for any reason, including bankruptcy or insolvency or the inability to manufacture locomotives that meet efficiency or regulatory emissions standards, we could experience significant cost increases and reduced availability of the locomotives that are necessary for our operations.”

Annual report 2025A · The company itself

“Table of Contents Financial risks We are affected by fluctuating fuel prices – Fuel costs constitute a significant portion of our transportation expenses. Diesel fuel prices can be subject to dramatic fluctuations, and significant price increases could have a material adverse effect on our operating results.”

Annual report 2025A · The company itself

“The table below summarizes the fuel consumption and expense of UAL's aircraft (including the operations of our regional carriers operating under CPAs) during the last three years. Year Gallons Consumed (in millions) Fuel Expense (in millions) Average Price Per Gallon Percentage of Total Operating Expense 2025 4,663 $ 11,396 $ 2.44 21 % 2024 4,444 $ 11,756 $ 2.65 23 % 2023 4,205 $ 12,651 $ 3.01 26 % Our operational and financial results can be significantly impacted by changes in the price and availability of aircraft fuel.”

Annual report 2025A · The company itself

“Aircraft fuel is critical to the Company's operations and is one of our largest operating expenses. During the year ended December 31, 2025, the Company's fuel expense was approximately $11.4 billion.”

Annual report 2025A · The company itself

“Table of Contents •Drive fuel efficiencies and innovation in flight: As part of this plan, the Company is focused on improving fuel efficiency in its operations. Its main focus in realizing this objective is optimizing its conventional jet fuel consumption, which is both the largest contributor to its environmental footprint and, as noted above, a sizable expense for the Company. To do so, the Company is prioritizing the introduction of newer, more fuel-efficient aircraft into its fleet as part of its United Next plan, as well as improving the fuel efficiency of its existing fleet.”

Annual report 2025A · The company itself

“This includes the development and availability of reliable, affordable and low emission energy solutions, including sustainable aviation fuel and alternative fuel and battery electric vehicles.”

Annual report 2025A · The company itself

“Fuel and energy costs have a significant impact on our operations. We require significant quantities of fuel for our aircraft and delivery vehicles and are exposed to the risks associated with variations in the market price for petroleum products, including gasoline, diesel and jet fuel.”

Annual report 2025A · The company itself

“Fuel Surcharges We apply a fuel surcharge on our domestic air and ground products that is adjusted weekly. Our air fuel surcharge is based on the U.S. Department of Energy's ("DOE") Gulf Coast spot price for a gallon of kerosene-type fuel, and our ground fuel surcharge is based on the DOE's On-Highway Diesel Fuel price.”

Annual report 2025A · The company itself

“Fuel surcharge revenue increased $282 million in 2025, as a result of revenue quality actions discussed above which more than offset the impact of lower volume.”

Annual report 2025A · The company itself

“Increases in fuel costs or reduced supplies of fuel have in the past harmed, and could in the future again harm, our business. We believe that one of our competitive advantages is the mobility of our fleet. Accordingly, our business in the past has been, and in the future could be, adversely affected by limitations on fuel supplies or significant increases in fuel prices that result in higher costs to us for transporting equipment from one branch to another branch.”

Annual report 2025A · The company itself

“Ett åkeris lönsamhet är starkt sammankopplat med dess bränslekostnader.”

Annual report 2024A · The company itself

“We purchase natural gas, coal, fuel oil, and nuclear fuel for our generation facilities, and higher than expected fuel costs, volatility, or disruption in these fuel markets may have an adverse impact on our costs, revenues, results of operations, financial condition and cash flows. We rely on natural gas, coal, fuel oil, and nuclear fuel for the majority of our power generation facilities.”

Annual report 2025A · The company itself

“Additionally, extreme weather has resulted, and may in the future result, in (i) unexpected increases in customer load, requiring our retail operation to procure additional electricity supplies at wholesale prices in excess of customer sales prices for electricity, (ii) the failure of equipment at our generation facilities, (iii) a decrease in the availability of, or increases in the cost of, fuel sources, including natural gas, diesel and coal, or (iv) unpredictable curtailment of customer load by the applicable ISO/RTO in order to maintain grid reliability, resulting in the realization of lower wholesale prices or retail customer sales.”

Annual report 2025A · The company itself

“I den egna verksamheten är det bränslekonsumtionen av företagsägda bilar samt elkonsumtion, fjärrvärme och -kyla för kontoren de största utsläppskällorna.”

Annual report 2023A · The company itself

“VOLVOKONCERNEN 2024 ÖVERSIKT Volvo Lastvagnar | Helt nya Volvo VNL i Nordamerika har en förbättrad bränsleeffektivitet med upp till 10%, tack vare optimerad aerodynamik och ny teknik.”

Annual report 2024A · The company itself

“Vi utmärker oss genom våra högpresterande förbränningsmotorer och drivlinor, och våra produkter bidrar avsevärt till våra kunders framgång genom att tillhandahålla pålitlig drifttid och hög transporteffektivitet.”

Annual report 2024A · The company itself

“Moreover, when fuel costs increase, our freight costs generally do as well.”

Annual report 2025A · The company itself

“We regularly experience increases in our net shipping cost due to complimentary upgrades, split-shipments, and additional long-zone shipments necessary to ensure timely delivery for the holiday season.”

Annual report 2025A · The company itself

“•The inability to procure fuel at costs that are economical could cause AEP to retire generating capacity prior to the end of its useful life. •AEP is exposed to changes in the price and availability of emission allowances. •AEP is exposed to changes in the price and availability of diesel, the primary fuel used in transporting coal by barge.”

Annual report 2025A · The company itself

“Our costs typically include ground rent (which is primarily fixed under long-term lease agreements with annual cost escalations) and power and fuel costs, some or all of which may be passed through to our tenants, as well as property taxes and repair and maintenance expenses.”

Annual report 2025A · The company itself

“The risk of rising energy and fuel prices and volatility in production volumes continue.”

Annual report 2025A · The company itself

“• Ellastbilar: Emissionsfria transporter mellan Apoteas lager och PostNords terminal i Rosersberg minskar både antalet tunga fordon på vägarna och koldioxidutsläppen. • Varsam produkthantering: Rutiner och regelbundna utbildningar i logistiken minskar skador på produkter och därmed onödigt svinn. • Farmaceutisk rådgivning: Apoteas farmaceuter ger expertstöd som främjar säker och effektiv läkemedelsanvändning samt stärker folkhälsan. • Trygg läkemedelshantering: Noggranna rutiner och egenkontroll säkerställer korrekta och säkra leveranser av läkemedel. • Egna varumärken: Apotea tillämpar strikta förpackningskrav för sina egna varumärken, bland annat genom återvinningsbara förpackningar och att successivt öka andelen återvunnet eller förnybart material i förpackningen. • Förbud mot skadliga ämnen: Apotea ställer krav på förbud av bland annat PFAS-ämnen. • Systematiskt arbetsmiljöarbete: Apotea satsar på arbetsmiljö, kompetensutveckling och ledarskapsutveckling för att medarbetarna ska trivas och utvecklas.”

Annual report 2024A · The company itself

“Commodity cost volatility, most notably related to copper, petroleum-based resin products and fuel, is a challenge for us and our industry. Recently, the industry has been subjected to increased pricing pressures, specifically in relation to these commodities, which have experienced significant volatility in price.”

Annual report 2025A · The company itself

“I logistikkvirksomheten kan valutavolatilitet, drivstoffkostnader og globale forsyningsforstyrrelser ha større konsekvenser, og dette inngår i konsernets risikovurderinger og planverk.”

Annual report 2024A · The company itself

“The Company’s transportation operations are partially dependent upon rail access, diesel fuel and other petroleum-based products, as well as on the availability and cost of ocean freight and port operations.”

Annual report 2025A · The company itself

“Ethanol is produced for use as an octane enhancer and oxygenate in gasoline.”

Annual report 2025A · The company itself

“Faktisk negativ påverkan Energi- och bränsle förbrukning Negativ påverkan genom växthusgasutsläpp från energi- och bränsleförbrukning i egen drift i produktionsanläggningar, lager, försäljningsoch serviceenheter samt fordon för transport och service till kunder.”

Annual report 2024A · The company itself

“A challenge in renewable fuels is their limited availability and high price, which reduces customers’ willingness to use them.”

Annual report 2025A · The company itself

“(ESL Shipping) Low availability of renewable fuels combined with the cost impacts of low-emission solutions may restrict the ESL Shipping’s ability to transition to cleaner energy, potentially impacting competitiveness and revenue Upstream CLIMATE CHANGE ADAPTATION Physical risk (chronic), short-term Extreme weather may disrupt supply chain operations (ESL Shipping) Extreme weather and changing ice conditions may disrupt vessel, cargo, and supply chain operations, leading to higher costs, lower margins, and reduced revenue Transition opportunity (Policy & regulatory changes), short-term New opportunity, identified in 2025 Increased demand for low-emission transportation (ESL Shipping) Increased revenue with increased demand for low-emission transportation Downstream Physical risk (chronic), medium-term Impacts of climate change on raw material costs (Leipurin) Global warming may lead to increased raw material costs.”

Annual report 2025A · The company itself

“Additionally, 13,285 MWh of diesel and petrol were consumed by our car fleet.”

Annual report 2024A · The company itself

“Our operation reduces carbon footprint by eliminating the need for air freight to the US market. Due to our domestic production in the US market, Atlantic Sapphire sells fresher products with longer shelf life than imported salmon, enabling reduced food waste.”

Annual report 2024A · The company itself

“Principal product development and manu facturing units are located in: Belgium, Germany, Spain, the United States, China, and India. the year, including: CPS 1600-150, a new portable compressor, primarily for the North American market, with a compact, lightweight, and robust design, offers high fuel efficiency compared to similar products.”

Annual report 2024A · The company itself

“Our business is directly related to LVP in the global market and by our customers, and automotive sales and LVP are the most important drivers for our sales Automotive sales and production are highly cyclical and can be affected by general or regional economic or industry conditions, the level of consumer demand, recalls and other safety issues, labor relations issues, technological changes, fuel prices and availability, vehicle safety regulations and other regulatory requirements, governmental initiatives, trade agreements, political volatility (especially in energy producing countries and growth markets), changes in interest rate levels and credit availability, and other factors.”

Annual report 2024A · The company itself

“Mileage levels may be affected by gas prices, ride sharing, weather conditions, and other factors. ● rising fuel and energy prices. Increases in fuel and energy prices may cause our customers to defer purchases of certain of our products as they use a higher percentage of their income to pay for fuel and other energy costs and may drive their vehicles less, resulting in less wear and tear and lower demand for repairs and maintenance.”

Annual report 2025A · The company itself

“Quantitative and Qualitative Disclosures about Market Risk We are exposed to market risk from, among other things, changes in interest rates, foreign exchange rates and fuel prices.”

Annual report 2025A · The company itself

“Prishöjningar på varor har till viss del mattats av under året. Fort - satta prisökningar på energi och drivmedel skulle innebära en risk på kort sikt för Berner Industrier, innan dess att de nya kostnadsnivåerna kunnat prisas in i affärer fullt ut.”

Annual report 2024A · The company itself

“Bran & Luebbe pump som Zander & Ingeström levererat till Preem. Där ska den pumpa rapsolja som en del i deras satsning på förnyelsebara drivmedel.”

Annual report 2024A · The company itself

“Bilias Drivmedels affär omfattar försäljning av drivmedel ochbiltvätt i Sverige.”

Annual report 2024A · The company itself

“Resor Boule uppmanar till att alltid välja miljövänliga alternativ vid affärsresor och pendling. • • • Vi fortsätter att minimera utskrifter och minska avfallet Vi förespråkar miljövänliga fordon Vi vidtar olika åtgärder för att uppmuntra anställda att spara elektricitet Genomförda aktiviteter under året 2025 Prioriteringar • Produktion av reagenser i Indien är i full gång, vilket minskat transporterna betydligt för denna region.”

Annual report 2024A · The company itself

“Our freight costs and the timely delivery of our products could be adversely affected by a number of factors, including driver or equipment shortages, higher fuel costs, weather conditions, traffic congestion, ocean freight lane disruptions, shipment container availability, rail shutdowns, customs importation delays, and increased government regulation.”

Annual report unknown yearA · The company itself

“The specific consequences of these geopolitical conflicts on our business are difficult to predict at this time, but in addition to inflationary pressures affecting our operations, any shortages of fuel or significant fuel cost increases could seriously disrupt our ability to distribute products to our customers.”

Annual report 2025A · The company itself

“Significant increases in the cost of these items, including as a result of the Ukraine-Russia war, and currency fluctuations could adversely affect our operating costs and results.”

Annual report 2025A · The company itself

“Energy Risk We purchase various energy commodities such as electricity, natural gas, and bunker fuel, which are used to operate our manufacturing facilities and ocean freight vessels.”

Annual report 2025A · The company itself

“Key Commodities Soybean, Soybean Meal, Soybean Oil Key Regions and Processing Capacity 47% in South America, 25% in North America, 15% in Asia-Pacific, and 13% in Europe Customers Animal feed manufacturers, Livestock producers, Biofuel companies, Other oilseed processors, and a variety of customers that purchase our refined oil products Raw Materials Globally sourced directly from farmers or indirectly through intermediaries.”

Annual report 2025A · The company itself

“We provide the following transportation and logistics services: •Truckload: Through our contracts with motor carriers, we have access to dry vans, temperature-controlled vans, flatbeds, and bulk capacity.”

Annual report 2025A · The company itself

“Contracted motor carriers provide us access to dry vans, temperature-controlled vans, flatbeds, and bulk capacity.”

Annual report 2025A · The company itself

“In our truckload transportation business, fluctuating fuel prices may result in a decreased adjusted gross profit margin. While our different pricing arrangements with customers and contracted motor carriers make it very difficult to measure the precise impact, we believe fuel costs essentially act as a pass-through cost to our truckload business.”

Annual report 2025A · The company itself

“Further, inflationary impacts on labor, materials, fuel, and other vehicle costs and services, as well as scarcity of certain products, have caused and may again cause increased vehicle prices, which may adversely affect demand and pricing in the used vehicle market.”

Annual report 2025A · The company itself

“As a result, we are exposed to risks associated with the transportation industry such as weather, traffic patterns, gasoline prices, recalls affecting our vehicle fleet, local and federal regulations, vehicular crashes, insufficient internal capacity, rising prices of transportation vendors, taxes, license and registration fees, insurance premiums, self-insurance levels, difficulty in recruiting and retaining qualified drivers, disruption of our technology systems, equipment supply, equipment quality, and increasing equipment and operational costs.”

Annual report 2025A · The company itself

“Additionally, increases in labor, mileage, insurance, fuel, and other costs related to the supply and transportation of food ingredients could adversely affect the profitability of our stores.”

Annual report 2026A · The company itself

“General economic and political conditions, including social and political causes and movements, higher interest rates, higher fuel and other energy costs, inflation, tariffs, increases or fluctuations in commodity prices such as cheese, proteins and coffee, higher levels of unemployment, higher consumer debt levels and lower consumer discretionary spending, higher tax rates and other changes in tax laws or other economic factors may affect the operations of our stores, input costs, construction and transportation costs, consumer spending, buying habits and labor markets generally, and could adversely affect the discretionary income and spending levels of our guests, the costs of the products we sell in our stores, the consumer demand for such products and the labor costs of transporting, storing and selling those products, and the costs of building, acquiring and remodeling stores.”

Annual report 2026A · The company itself

“The Company self-distributes the majority of fuel to our stores.”

Annual report 2026A · The company itself

“In addition, all but six store locations offer fuel.”

Annual report 2026A · The company itself

“Retail Fuel Operations Retail fuel sales are an important part of our revenue and earnings.”

Annual report 2026A · The company itself

“Renewable Fuels The company develops, produces and sells renewable fuels, including but not limited to renewable diesel, biodiesel, renewable natural gas (RNG), and sustainable aviation fuel (SAF).”

Annual report 2025A · The company itself

“Chevron owns and operates 11 biofuel refineries located in the U.S. and Germany, including eight producing biodiesel, one producing renewable diesel and two others that remained idle in 2025. In 2025, the company began production and continues ramp-up at its Geismar renewable diesel plant in Louisiana, following an expansion to increase plant capacity from 7,000 to 22,000 barrels per day.”

Annual report 2025A · The company itself

“Revenues for the downstream segment are derived from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils and other products derived from crude oil. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives, renewable fuels, and the transportation and trading of refined products and crude oil.”

Annual report 2025A · The company itself

“Insatskostnaderna, däribland för råvaror, förpackningar, frakt- och energi har ökat väsentligt och utgör en risk för negativ påverkan på Cloettas lönsamhet.”

Annual report 2024A · The company itself

“Rörelsens kostnader – förändring Mkr 5000 5500 6000 6500 7000 7500 8000 20242023 Personalkostnader Fordon Energi Av- och nedskrivningar Underhåll Leasing Annonsering, promotion, försäljning och marknadsföring Övrigt -1 -248 Råvaror, förpackningar och färdiga varor kompensera för alla insatskostnader i absoluta termer, även inklusive förpackningar, frakt- och energikostnader, genom prisökningar mot kunderna samt genom kostnadsbesparingar och genom att minska den övergripande energiförbrukningen.”

Annual report 2024A · The company itself

“We are also exposed to increases in energy prices, particularly as they relate to gasoline prices.”

Annual report 2025A · The company itself

“Our production facilities also use electricity, natural gas, and diesel fuel in addition to renewable energy sources in their operations.”

Annual report 2026A · The company itself

“Operating costs consist primarily of: (i) labor (operating personnel at facilities); (ii) transportation (miles traveled and fuel rates); (iii) facilities (maintenance, property-related taxes, rent, and insurance); (iv) other (marketing and auction-related costs); and (v) costs of vehicles sold.”

Annual report 2025A · The company itself

“Further, an increase in fuel cost may lead to increased prices charged by our independent subhaulers, which may significantly increase our cost.”

Annual report 2025A · The company itself

“In addition, under our PIP contracts, the cost of transporting the vehicle to one of our facilities is included in the PIP fee. We may incur increased fees, which we may not be able to pass on to our vehicle sellers. A material increase in transportation rates could have a material impact on our operating results.”

Annual report 2025A · The company itself

“Prices of certain commodities, including gasoline and consumable goods used in manufacturing and our warehouse retail operations, are historically volatile and are subject to fluctuations arising from changes in domestic and international supply and demand, inflationary pressures, labor costs, competition, market speculation, government regulations, taxes and periodic delays in delivery.”

Annual report 2025A · The company itself

“The number of warehouses with gas stations varies significantly by country. We operated 747 gas stations at the end of 2025. Our gasoline business represented approximately 10% of total net sales in 2025.”

Annual report 2025A · The company itself

“Additionally, if a fuel supply shortage were to arise, the Company would be negatively impacted.”

Annual report 2025A · The company itself

“We may also experience increased costs for energy, transportation, raw materials, production, and insurance, including higher premiums or deductibles.”

Annual report 2026A · The company itself

“In addition, we could experience increased costs related to fuel prices due to ongoing conflicts in the Middle East and Ukraine and other geopolitical tensions. •Shipping disruptions.”

Annual report 2026A · The company itself

“Därtill har vikten på Dometics produkter som används i mobila applikationer en indirekt inverkan som är kopplad till den energi som förbrukas när produkterna transpor - batteriladdare, det möjligt för konsumenter att utforska naturen långt borta från det fasta elnätet utan att vara lika beroende av fossil energi.”

Annual report 2024A · The company itself

“Similarly, adverse fluctuations in the price of fuel used for transportation and installation, would likely adversely affect the overall costs to construct the project.”

Annual report 2025A · The company itself

“Road transportation emits nitrogen oxides (NO x ), carbon monoxide (CO), and noise pollution.”

Annual report 2024A · The company itself

“We are also exposed to increases in energy prices, particularly as they relate to gasoline prices for our fleet of approximately 14,400 vehicles.”

Annual report 2025A · The company itself

“När det gäller bränsleeffektivitet förbrukar SmartROC T35 mindre diesel än någon annan rigg i sin klass. Hela arkitekturen i SmartROC T35 är utformad för att vara effektiv.”

Annual report 2024A · The company itself

“There is uncertainty as to how future regulatory requirements and volatility in oil prices will continue to impact future buy rates. Because fuel is an integral part of carriers' costs and impacts both our buy rates and sell rates, we would expect our revenues and costs to be impacted as carriers adjust rates for the effect of changing fuel prices. To the extent that future fuel prices increase, and we are unable to pass through the increase to our customers, fuel price increases could adversely affect our operating income.”

Annual report 2025A · The company itself

“Commodity energy prices – We have market risk for changes in prices of oil, gasoline, diesel fuel, natural gas, and electricity, largely due to our consumption of fuel in our vehicles and utility costs at our facilities.”

Annual report 2025A · The company itself

“We transport product between our distribution centers and from our distribution centers to our selling locations. We typically transport approximately 90% of our products on our own fleet of Class 6, 7, and 8 trucks, with the remainder being on third party shippers. Costs range from lease charges, driver pay, fuel costs to support our captive fleet, and fees paid to third-party shippers.”

Annual report 2025A · The company itself

“We transport product from our selling locations to our customers on a fleet of pick-up, box, and other trucks. Expenses to maintain this fleet are considered selling-related transportation costs, which include lease charges, depreciation, and fuel, and are typically reflected in all other selling, general, and administrative (SG&A) expenses.”

Annual report 2025A · The company itself

“They can also experience significant fluctuation in the cost of energy consumed in their production processes and in the cost of fuel consumed to transport their products.”

Annual report 2025A · The company itself

“To a lesser extent, fluctuations in the price of fuel could affect transportation costs.”

Annual report 2025A · The company itself

“The Company is also exposed to fluctuations in the price of fuel, which could affect transportation costs.”

Annual report 2025A · The company itself

“forventer vi at reducere dieselforbruget i fremtiden.”

Annual report 2025A · The company itself

“Vi optimerer arbejdskørsel på markerne ved at kompaktere og udføre opgaver, når og hvor det er nødvendigt.”

Annual report 2025A · The company itself

“Som led i arbejdet med implementering af præcisionslandbrug og reduceret jordbearbejdning forventer vi at reducere dieselforbruget i fremtiden.”

Annual report 2025A · The company itself

“The decision whether to purchase a vehicle may be affected significantly by slowing economic growth, geopolitical events, and other factors (including the cost of purchasing and operating cars, trucks, and utility vehicles, the availability and cost of financing, cost of fuel, and EV charging availability and cost).”

Annual report 2025A · The company itself

“Our strategy involves providing customers freedom of choice to select the powertrain that best suits their needs and maintaining manufacturing flexibility at Ford to meet shifting customer demand.”

Annual report 2025A · The company itself

“We utilize derivatives to manage price risk for some of our principal ingredient and energy costs, including grains (oats, wheat, and corn), oils (principally soybean), dairy products, natural gas, and diesel fuel.”

Annual report 2026A · The company itself

“While the broader consequences are uncertain at this time, the continuation and/or escalation of these or other geopolitical conflicts creates a number of risks that could adversely impact our business, including: •persistent inflationary pressures and significant volatility in commodity prices; •disruptions to our global technology infrastructure, including through cyberattacks, ransom attacks or cyber-intrusion; •adverse changes in international trade policies and relations, including U.S. tariff policies; •our ability to maintain or increase our prices, including freight in response to increased fuel costs; 10 Table of Contents •disruptions in global supply chains; •increased exposure to foreign currency fluctuations; and •constraints, volatility or disruption in the credit and capital markets.”

Annual report 2025A · The company itself

“Rising fuel and raw material prices, due to inflation or otherwise, for paperboard and other components such as resin used in plastics or electronic components, increased transportation and shipping costs, and increased labor costs in the markets in which our products are manufactured all may increase the costs we incur to produce and transport our products, which in turn may reduce our margins, reduce our profitability and harm our business.”

Annual report 2025A · The company itself

“Factors which can impact the competitive position include new players in the industry, pressure on market prices and future demand and supply factors, including the price of natural gas and the relative price of gas compared with diesel.”

Annual report 2024A · The company itself

“Operating results from continuing operations For the full year 2024, Hexagon Group reported revenues of NOK 4 877 (4 526) million, including approximately NOK 81 million of positive FX translation effects. Excluding FX, the underlying revenue growth was 6%, predominantly explained by Hexagon Agility’s Mobile Pipeline distribution business which has delivered consistently high volumes throughout the year as a consequence of strong demand for transportation of oil & gas, helium and renewable natural gas (RNG) in the US. The Fuel Systems business of Hexagon Agility had a rather flat revenue development, but improved its profit margins notably, so did also Hexagon Digital Wave.”

Annual report 2024A · The company itself

“Hiab toimii kuormankäsittelyalalla, jolla on merkittävä hiilijalanjälki, sillä suurin osa alalla käytettävistä laitteista toimii edelleen fossiilisilla polttoaineilla.”

Annual report 2025A · The company itself

“The strong operating result is reflecting the high net rates in a strong spot market and successful repricing of contracts, although it was partially offset by lower volumes and increased costs due to the re-routing south of the Cape of Good Hope throughout the year.”

Annual report 2024A · The company itself

“The Group has Bunker Adjustment Factor (BAF) clauses in most commercial contracts, designed to adjust for changes in bunker prices. Due to time lag, the Group will not be fully compensated in periods of rapidly changing prices, but the BAF will give reasonable compensation in most periods.”

Annual report 2024A · The company itself

“With around 17,500 vehicles across the globe, our fleet is by far the largest carbon emission source”

Annual report 2025A · The company itself

“Kostnader för bränslen och drivmedel Produktion Ökad kostnad: • Koldioxidskatt • Energiskatt • Förnybart Energieffektivt Attraktiv produkt Ökat kundvärde Hanteras enligt: • Aktiv produkt-/ produktions-/ metodutveckling 2.”

Annual report 2024A · The company itself

“Syftet är att minska klimatpåverkan från transporter och produk - tion genom användning av förnyelsebara drivmedel och energislag i produktion i kombination med resurseffektiva transporter. Aktiviteter planerade för 2025 är att utreda fossilfria transporter inom prefabricerade byggmaterial samt kartlägga klimatbelast - ningen från logistik och produktion.”

Annual report 2024A · The company itself

“Skatter på fossila drivmedel medför ökad bränslekostnad för transporter och arbetsmaskiner.”

Annual report 2024A · The company itself

“Geopoliittinen epävarmuus heijastuu monin tavoin Euroopan maiden markkinoihin, esimerkiksi rahapolitiikkaan, sijoitusmarkkinaan ja inflaatioon, sekä myös energian ja polttoaineiden hintoihin.”

Annual report 2024A · The company itself

“Diversified market exposure as the vessels transport both dry-bulk and tanker products and a positive correlation to bunker prices.”

Annual report 2024A · The company itself

“In the Järvelä sawmill industry, a pilot trial of an electric wheel loader has been implemented together with a contractor. Koskisen’s long-term partner, Adolf Lahti has introduced a fully electric wheel loader to replace a previously used diesel-powered machine.”

Annual report 2025A · The company itself

“Fuel sales are an important part of our revenue, net earnings and loyalty offering. Our fuel strategy is to include a fuel center at each of our supermarket locations when it is feasible and it is expected to be profitable.”

Annual report 2026A · The company itself

“Aircraft fuel consumption from taxi, take-off and landing”

Annual report 2025A · The company itself

“At year-end, 33% of our vehicles were electric, with the remainder of the fleet running on biofuel (HVO).”

Annual report 2025A · The company itself

“Lifcos inverkan och risker uppstår i den egna verksamheten samt upp- och nedströms i värdekedjan genom användning av fossila bränslen i bland annat produktionsprocesser, uppvärmning av lokaler och transporter.”

Annual report 2024A · The company itself

“Transporter och energiförbrukning i värdekedjan I värdekedjans alla led ingår transporter, energiförbrukning och arbetskraft som centrala resurser.”

Annual report 2024A · The company itself

“Refinery Crude Oil Refining Capacity (mbpcd) Gulf Coast Region Galveston Bay, Texas City, Texas 631 Garyville, Louisiana 617 Subtotal Gulf Coast region 1,248 Mid-Continent Region Catlettsburg, Kentucky 307 Robinson, Illinois 253 Detroit, Michigan 146 El Paso, Texas 133 St. Paul Park, Minnesota 105 Canton, Ohio 100 Mandan, North Dakota 72 Salt Lake City, Utah 70 Subtotal Mid-Continent region 1,186 West Coast Region Los Angeles, California 365 Anacortes, Washington 119 Kenai, Alaska 68 Subtotal West Coast region 552 Total 2,986 33 Table of Contents The following table sets forth the approximate number of locations where jobbers maintain branded outlets, marketing fuels mainly under the Marathon and ARCO brands as well as Shell, Mobil, Tesoro and other brands, as of December 31, 2025.”

Annual report 2025A · The company itself

“Class of Equipment Number in Class Capacity (mbbls) Jones Act medium range product tankers 4 1,320 Jones Act 750 Series ATB vessels 3 990 RENEWABLE DIESEL Our Dickinson, North Dakota, renewables facility has the capacity to produce 184 million gallons per year of renewable diesel from corn oil, soybean oil, fats and greases. The Martinez, California renewable diesel facility has the capacity to produce 730 million gallons per year.”

Annual report 2025A · The company itself

“Geopolitical instability in the Middle East may disrupt critical semiconductor materials, increase fuel costs, and adversely affect our ability to meet customer demand. Geopolitical instability and conflicts in the Middle East, including military activity and escalating tensions involving Iran, create significant uncertainty for global markets, including energy and materials markets, and could adversely impact our operations and financial results.”

Annual report 2026A · The company itself

“Recent armed conflicts have already forced key state sponsored fuel production facilities in the region offline, contributing to global fuel price volatility.”

Annual report 2026A · The company itself

“Our operations rely heavily on global logistics networks - including ocean freight, air freight, and long‑haul trucking - that depend on stable and cost‑effective fuel supplies. Significant increases in fuel costs, reductions in carrier capacity, or extended transit times could materially increase our transportation and distribution expenses.”

Annual report 2026A · The company itself

“Prolonged or severe disruption - whether due to fuel shortages, materials constraints, logistics delays, or increased energy costs, or reduced customer demand - could adversely affect our ability to meet customer commitments and could materially harm our business, financial condition, and results of operations.”

Annual report 2026A · The company itself

“In addition, we also purchase and use a significant amount of diesel fuel, natural gas, electricity and carbon dioxide in our operations.”

Annual report 2025A · The company itself

“If we or our suppliers are required to comply with these laws and regulations, or if we choose to take additional voluntary steps to reduce or mitigate our impact on the climate, we may experience increased costs for energy, production, transportation, and raw materials, increased capital expenditures, or increased insurance premiums and deductibles, each of which could adversely impact our operations.”

Annual report 2025A · The company itself

“Moreover, we rely upon trucks for the transportation of our products, which makes us susceptible to increases in the cost of fuel.”

Annual report 2025A · The company itself

“Higher costs for these transportation services or an interruption or slowdown due to factors including high demand, high fuel prices, labor disputes, layoffs or other factors affecting the availability of qualified transportation workers, adverse weather or other environmental events, or changes to rail, barge or ocean freight systems, could negatively affect our ability to produce our products or deliver them to our customers, which could affect our performance and results of operations.”

Annual report 2025A · The company itself

“øget kompleksiteten i forhold til at reducere brændstofforbrug og ressourceanvendelse i driften”

Annual report 2025A · The company itself

“Scope 1-udledninger stammer primært fra forbrug af diesel, biodiesel, benzin og olie til køretøjer. En mindre andel kommer fra anvendelse af fyringsolie og naturgas til opvarmning af bygninger.”

Annual report 2025A · The company itself

“Neste on maailman johtava uusiutuvan dieselin ja uusiutuvan lentopolttoaineen valmistaja, jolla on tuotantoa kolmella mantereella.”

Annual report 2025A · The company itself

“A variety of factors, including higher energy usage in emerging market economies, actual and proposed taxation of carbon emissions as well as concerns surrounding global conflicts, could result in increased demand or limited supply of energy and/or sharply escalating diesel fuel, natural gas and other energy prices.”

Annual report 2025A · The company itself

“Our mining operations and development projects require significant amounts of energy.”

Annual report 2025A · The company itself

“The primary factors that influence the need to record write-downs of our stockpiles, leach pads and product inventory include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies as well as realized ore grades and recovery rates.”

Annual report 2025A · The company itself

“Marine fuels are a major source of direct emissions.”

Annual report 2025A · The company itself

“Bio fuel Sustainable aviation fuel”

Annual report 2025A · The company itself

“Inputs: Our primary inputs include fuel and vessels designed for safe chemical transport, produced and maintained by shipyards that meet our stringent quality standards.”

Annual report 2024A · The company itself

“The Treasury function (“Treasury”) is responsible for managing foreign exchange, metal, interest rate, liquidity and refinancing as well as emission allowance price risk.”

Annual report 2025A · The company itself

“Containerboard produced in our mills is primarily shipped by rail or truck. Our corrugated products are delivered by truck due to proximity of our corrugated manufacturing operations to customers and load size.”

Annual report 2025A · The company itself

“Två andra betydande källor till växthusgaser i produktionen är energianvändning och transporter.”

Annual report 2024A · The company itself

“Vi följer dessutom kontinuerligt de affärskritiska kategorierna som bränsle, el, bitumen och stål.”

Annual report 2024A · The company itself

“Med cirka 90 procent av Peabs klimatpåverkan inom våra industriella verksamheter fokuserar vår klimatfärdplan bland annat på energieffektivisering, minskade transporter och att påverka beställarna att ställa krav på förnybara bränslen, energisnål utrustning och el/förnybar energi på byggarbetsplatserna samt att använda produkter och material med minskar klimatavtryck.”

Annual report 2024A · The company itself

“Energirelaterade utsläpp ECO-Asfalt är ett exempel på hur vi i produktionen använder förnybara energislag för att minska klimatpåverkan. Vår tillverkning av ECO-Asfalt bygger på att biobränsle ersätter fossil eldningsolja vid torkning och uppvärmning av stenmaterialet, som är det mest energikrävande momentet i tillverkningsprocessen.”

Annual report 2024A · The company itself

“Idag har dotterbolaget Peab Asfalt cirka 90 asfaltverk i Norden.”

Annual report 2024A · The company itself

“Vid tillverkningen av ECO-Asfalt används koldioxidneutrala biobränslen, vilket reducerar klimatavtrycket för ECO-Asfalt väsentligt jämfört med tillverkning vid ett standardasfaltverk. Enligt Trafikverkets beräkningsmodell ger ECO-Asfalt en reduktion i klimatpåverkan på mer än 60 procent, jämfört med asfaltbranschens genomsnitt.”

Annual report 2024A · The company itself

“3)Refining—Refines crude oil and other feedstocks into petroleum products, such as gasoline and distillates, including aviation fuels.”

Annual report 2025A · The company itself

“Volatility in energy and fuel prices further impacts operational costs.”

Annual report 2025A · The company itself

“As part of the double materiality assessment (DMA), an assessment of material impacts across all operations and the value chain was conducted; In the upstream of Posti’s operations, Posti has a network of suppliers who provide the essential technologies, vehicles, fuels, and digital infrastructure to enable its business.”

Annual report 2025A · The company itself

“In addition, fuel, natural gas and derivative products are important commodities consumed in our manufacturing processes and in the transportation of input materials and finished products.”

Annual report 2026A · The company itself

“Rejlers energiförbrukning från fossila källor härrör främst från vår fordonsflotta, inklusive el som används för laddning av elfordon, samt el- och fjärrvärmeförbrukning relaterad till våra kontor där fossila källor är en del av den regionala energimixen.”

Annual report 2024A · The company itself

“The company has a limited environmental impact which mainly consists of the waste from products and transportation and driving in company cars and electricity consumption for the company’s processing work, offices and warehouses.”

Annual report 2025A · The company itself

“Capital spending and demand for aircraft engines, aerospace products, and component aftermarket parts and services is limited to commercial airlines, lessors, other aircraft operators, and aircraft manufacturers that are influenced by a wide variety of factors, including current and predicted traffic levels, load factors, aircraft fuel prices, labor issues, airline consolidation, bankruptcies and restructuring activities, competition, the retirement of older aircraft, corporate profitability and financial health, cost reduction efforts, tightening of credit in financial markets and the availability of aircraft leasing and financing alternatives, remaining performance obligations levels, the satisfaction of certification or other regulatory requirements for aircraft in various jurisdictions, regulatory changes, terrorism and related safety concerns, political stability, and general economic conditions.”

Annual report unknown yearA · The company itself

“Kenpo Sandwich erbjuder lätta sandwichpaneler för minskade koldioxidutsläpp inom transport och byggbranschen.”

Annual report 2024A · The company itself

“Det aktuella projeketet omfattar byggnation av en 8,4 kilometer lång fyrfilig motorvägssträcka som gränsar till kommunerna Bærum och Hole. Den gamla vägen kännetecknades av branta stigningar över bergen medan den nya vägen kommer att ha högst 5 procents stigning, vilket innebär betydligt lägre utsläpp, särskilt från tunga lastbilar med godstransport. Det är goda nyheter för människor som bor i närheten.”

Annual report 2024A · The company itself

“Projektet har också använt en datadriven metod för att hantera och transportera de 3,5 miljoner kubikmeter material som grävts ut. Vi loggade och övervakade hur grävmaskiner och dumpers rörde sig för att hitta effektivare sätt att hantera logistiken för att minska bränsleanvändningen.”

Annual report 2024A · The company itself

“Totalförbrukning av drivmedel har ökat med 12 (13) procent mot föregående år. SkiStar har ökat sin HVO100-förbrukning med 13 (17) procent mot fg år.”

Annual report 2024A · The company itself

“Reduktionen av diesel beror på att vi har gått över till HVO100. Under verksamhetsåret drevs 92 (91) procent av SkiStars fordonsflotta på förnybart drivmedel.”

Annual report 2024A · The company itself

“Fuel consumption from other fossil sources MWh 8,449 10,279”

Annual report 2025A · The company itself

“Flyreiser utgjør en betydelig andel av bankens utslipp knyttet til intern drift.”

Annual report 2024A · The company itself

“Since a significant portion of our finished products are delivered by truck, unforeseen fluctuations in the price of fuel would also adversely affect our costs or the costs of many of our customers.”

Annual report 2025A · The company itself

“Thereafter ​ ​ 2,650,147 ​ ​ 4.7 ​ ​ - ​ ​ ​ ​ ​ Total debt outstanding ​ $ 4,253,448 ​ ​ 4.2% ​ $ 33,162 ​ ​ 5.5% ​ ​ Fair value ​ $ 4,108,867 ​ ​ ​ ​ $ 33,162 ​ ​ ​ ​ ​ Commodity Risk In the normal course of business, we are exposed to the market risk and price fluctuations related to the sale of our products and to the purchase of raw materials used in our operations, such as metallic raw materials, electricity, water, natural gas and its transportation services, fuel, air products, zinc, and electrodes.”

Annual report 2025A · The company itself

“Furthermore, the cost of transportation has fluctuated and may continue to fluctuate significantly if oil prices continue to rise.”

Annual report 2026A · The company itself

“In addition, we have experienced higher labor costs due to increased competition for personnel in many regions in which we operate as well as general inflationary conditions, and higher shipping costs due to labor and rising energy prices.”

Annual report 2025A · The company itself

“In addition, Kautex produces plastic tanks for selective catalytic reduction systems used to 4 Table of Contents reduce emissions from diesel engines, and other fuel system components.”

Annual report 2026A · The company itself

“Our primary commodity exposures are for fuel, petroleum-based resins and steel. The costs for these commodities, as well as the costs of transportation, construction and services necessary for the production and distribution of our products, continue to increase and be volatile.”

Annual report 2025A · The company itself

“Ett av de senaste exemplen är formgivningen och patenterade tekniklösningar på den dragkroksmonterade transportboxen Thule Arcos, som bland annat gör det möjligt att öppna bakluckan utan att behöva fälla produkten och som även minimerar bilens bränsleförbrukning.”

Annual report 2023A · The company itself

“Direkt och indirekt användning av transporttjänster innebär ofta nyttjande av fossila bränslen. • Åren av pandemi innebar betydande försäljningsökningar vilket i sin tur innebar en ökad mängd transporter av insatsvaror såväl som färdiga produkter.”

Annual report 2023A · The company itself

“An increase in the price of oil increases our transportation costs for distribution, utility costs for our retail stores and costs to purchase our products from vendors.”

Annual report 2026A · The company itself

“We are subject to market risk with respect to the pricing of certain products and services, which include, among other items, grain, corn, steel, petroleum, cotton, and other commodities, as well as duties, tariffs, diesel fuel, and transportation services.”

Annual report 2025A · The company itself

“UPM is focusing on three targeted growth areas in its biofuels business: • Evaluating the potential to debottleneck the Lappeenranta biorefinery in order to capture low CAPEX expansion opportunities and further leverage the strong market performance of CTO-derived biofuels. • Enabling the qualification of CTO-derived UPM biofuels as sustainable aviation fuel (SAF). This strategic direction is supported by successful SAF trials conducted with the Austrian aircraft manufacturer Diamond Aircraft using Austro Engine propulsion and by continued progress in the technical acceptance process at the American Society for Testing and Materials (ASTM).”

Annual report 2025A · The company itself

“UPM Biofuels produces wood-based renewable diesel for all diesel engines and renewable naphtha that can be used as a biocomponent for gasoline or for replacing fossil raw materials in petrochemical industry. UPM operates one biorefinery in Finland.”

Annual report 2025A · The company itself

“OUR COMPREHENSIVE LIQUID FUELS STRATEGY Overview We strive to manage our business to responsibly meet the world’s growing demand for reliable and affordable energy. We believe that liquid transportation fuels—both petroleum-based and low-carbon—help meet that demand, and we expect that they will continue to be an essential source of transportation fuels well into the future.”

Annual report 2025A · The company itself

“We are a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and we sell our products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America.”

Annual report 2025A · The company itself

“The following is a description of each segment’s business operations. •The Refining segment includes the operations of our petroleum refineries, the associated activities to market our refined petroleum products, and the logistics assets that support our refining operations. The principal products manufactured by our refineries and sold by this segment include gasolines and blendstocks, distillates, and other products.”

Annual report 2025A · The company itself

“•The Renewable Diesel segment includes the operations of DGD, a consolidated joint venture as discussed in Note 12, and the associated activities to market low-carbon fuels. The principal products manufactured by DGD and sold by this segment are renewable diesel, renewable naphtha, and neat SAF.”

Annual report 2025A · The company itself

“This segment sells some renewable diesel and neat SAF to the Refining segment for blending into petroleum-based diesel and conventional jet fuel, respectively, which is then sold to that segment’s customers as finished product. •The Ethanol segment includes the operations of our ethanol plants and the associated activities to market our ethanol and co-products.”

Annual report 2025A · The company itself

“Renewable diesel 2,073 2,316 3,665 Renewable naphtha 138 94 158 Neat SAF 297 — — Total Renewable Diesel revenues 2,508 2,410 3,823 Ethanol: Ethanol 3,174 2,647 3,300 Distillers grains 847 971 1,173 Total Ethanol revenues 4,021 3,618 4,473 Revenues Revenues by geographic area are shown in the following table (in millions).”

Annual report 2025A · The company itself

“Market variables, such as inflation of product costs, labor rates, fuel, freight and energy costs, as well as geopolitical events, could negatively impact Grainger's ability to effectively manage its operating and administrative expenses.”

Annual report 2025A · The company itself

“Fluctuations in the price of fuel or increased demand for freight services could affect transportation costs.”

Annual report 2025A · The company itself

“Wabtec is working to reduce existing locomotive fuel consumption through fuel-efficiency solutions and testing renewable diesel and biofuels.”

Annual report 2025A · The company itself

“We are a global manufacturer of diesel-electric locomotives for freight railroads producing essential products and solutions that help railroads reduce operating costs, decrease fuel use, minimize downtime and comply with emissions standards.”

Annual report 2025A · The company itself

“We are helping our customers reduce their overall cost of operations through the development of low-emitting locomotives like our Tier 4 locomotives, Trip Optimizer, Green Air and Green Friction products, and the use of alternative fuels such as biodiesel, renewable diesel, and hydrogen.”

Annual report 2025A · The company itself

“Revenues from our collection operations are influenced by factors such as collection frequency, type of collection equipment furnished, type and volume or weight of the waste collected, distance to the disposal facility or recycling facility and our disposal costs.”

Annual report 2025A · The company itself

“This increase was partially offset by a decrease of approximately 3% in average market prices for diesel fuel and reduced diesel consumption due to declines in residential collection volumes.”

Annual report 2025A · The company itself

“Fluctuations in the price and supply of natural gas or diesel fuel could substantially increase our operating expenses; a reduction in the existing cost differential between natural gas and diesel fuel could materially reduce the benefits we anticipate from our investment in natural gas vehicles.”

Annual report 2025A · The company itself

“Fuel — The increase in fuel costs was primarily due to our recent acquisitions and the expiration of the federal alternative fuel tax credit on December 31, 2024.”

Annual report 2025A · The company itself

“Vi styr mot fossilfria alternativ och inga flytande fossila bränslen har använts till provisorisk byggvärme under 2024. Användningen av flytande fossilfria bränslen har minskat markant sedan föregående år, medan mängden gasol har ökat med 43 procent till 5 150 kg (3 609).”

Annual report 2024A · The company itself

“För att vi ska kunna minska företagets belastning på miljön måste vi öka andelen resor med lägre klimatavtryck samtidigt som åtgärder vidtas för att minska resandet. Transporter omfattar såväl egna medarbetares resor som materialleveranser till våra byggarbetsplatser.”

Annual report 2024A · The company itself

“Som tjänsteleverantör av ingenjörs- och designlösningar utgörs merparten av våra inköp av kontorsutrustning, Facility Management-tjänster, ITutrustning, licenser och resor, samt tjänster.”

Annual report 2024A · The company itself

“This category is only applicable to GPV, HydraSpecma and Borg Automo - tive, as the products of the other businesses do not consume energy in the use phase.”

Annual report 2025A · The company itself

“Changes in costs or constraints on supplies or energy used in operations •Similarly, if fuel or other energy prices increase, it may increase transportation costs, which could affect our agtech industry tenants’ and venture investment portfolio companies’ businesses.”

Annual report 2025A · The company itself

“Samarbeten pågår med logistikpartners för att använda bränsleeffektiva eller elektriska fordon.”

Annual report 2024A · The company itself

“It includes lifecycle emissions from third-party service technicians traveling to our sites, as well as diesel consumption related to subcontractor construction activities.”

Annual report 2024A · The company itself

“Utöver råvaror och förpackningsmaterial omfattar våra resursinflöden även maskiner, kontors- och fabriksmaterial samt bränslen för produktionsdrift och transporter.”

Annual report 2024A · The company itself

“Diesel consumption Liters 102,219 153,721”

Annual report 2025A · The company itself

“Many factors related to corporate spending and discretionary consumer spending, including economic conditions affecting disposable consumer income such as unemployment levels, fuel prices, interest rates, changes in tax rates, tax laws that impact companies or individuals, and inflation, can significantly impact our operating results.”

Annual report 2025A · The company itself