Copper

“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

“In the case of copper, which primarily affects our Electrical Distribution Systems segment, contract clauses have enabled us to pass on some of the price increases to our customers and thereby partially offset the impact of increased commodity costs on operating income for the related products.”

Annual report 2025A · The company itself

“We and our customers use a broad range of materials and supplies, including copper and other metals, petroleum-based resins, chemicals, electronic components and semiconductors. A significant disruption in the supply of these materials for any reason could decrease our production and shipping levels, which could materially increase our operating costs and materially decrease our profit margins.”

Annual report 2025A · The company itself

“The most significant raw materials we use to manufacture our products include copper and resins.”

Annual report 2025A · The company itself

“Ukraine and Russia are significant global producers of raw materials used in our supply chain, including copper, aluminum, palladium and neon gases. Disruptions in the supply and volatility in the price of these materials and other inputs produced by Ukraine or Russia, including increased logistics costs and longer transit times, could adversely impact our business and results of operations.”

Annual report 2025A · The company itself

“Commodity Price Risk Commodity swaps/average rate forward contracts are executed to offset a portion of our exposure to the potential change in prices mainly for various non-ferrous metals used in the manufacturing of automotive components, primarily copper. The net fair value of our contracts was an asset of $85 million and a liability of $6 million as of December 31, 2025 and 2024, respectively.”

Annual report 2025A · The company itself

“Another essential mineral—cobalt—is primarily sourced from the Democratic Republic of the Congo (DRC). It is used in batteries for consumer electronics (e.g., mobile phones). Its role in the green transition is significant, with demand expected to quadruple by 2030. However, cobalt extraction in the DRC is often associated with severe human rights violations, including dangerous working conditions, child labor, as well as conflicts and violence between mine operators and communities.”

Annual report 2024A · The company itself

“Med sin utmärkta förmåga till kraftöverföring används över 60 % av världens producerade koppar till att generera eller leda elektricitet, till exempel i elfordon.”

Annual report 2024A · The company itself

“För de basmetaller som Boliden producerar bedömer Wood McKenzie att efterfrågan kommer att öka med 70 % för koppar, 48 % för zink, 74 % för bly och 89 % för nickel mellan 2024–2050.”

Annual report 2024A · The company itself

“Stadig efterfrågan och prisutveckling Efterfrågan på koppar ökade med 3 % jämfört med föregående år och fortsatte att gynnas av trenden mot ökad elektrifiering, batteriladdning och infrastruktur för kraftöverföring. Efterfrågan i Europa var svag, men kompenserades av en stark efterfrågan i Kina, där förbrukningen ökade med 4 %.”

Annual report 2024A · The company itself

“Läs mer om vårt första sekel på sidorna 2–3. • Vi tillkännagav förvärvet av gruvorna Neves-Corvo och Zinkgruvan. Efter transaktionens färdigställandet som förväntas i mitten av 2025, kommer Bolidens produktion av zink och koppar i koncentrat att öka med 95 % respektive 43 %, baserat på 2023 års produktionssiffror.”

Annual report 2024A · The company itself

“I Rönnskär investerar vi i ett nytt elektrolysverk, som ersätter det som förstördes i en brand 2023. Det nya elektrolysverket kommer att utformas och byggas för att möjliggöra en effektiv expansion av produktionskapaciteten i framtiden.”

Annual report 2024A · The company itself

“Investering i nytt elektrolysverk i Rönnskär Ett beslut om att investera 4,8 miljarder SEK i ett nytt elektrolysverk på Rönnskär annonserades. Anläggningen innebär att produktionen av kopparkatoder och ädelmetaller gradvis kommer att öka till full kapacitet under andra halvåret 2026.”

Annual report 2024A · The company itself

“Avtal om förvärv av gruvorna Neves-Corvo och Zinkgruvan I december meddelade Boliden att man ingått ett slutgiltigt avtal med Lundin Mining om att förvärva Neves- Corvo-gruvan i Portugal och Zinkgruvan i Sverige. Den initiala kontanta köpeskillingen för enheterna uppgår till 1 300 MUSD på en kassa- och skuldfri basis, plus en villkorad tilläggsköpeskilling om upp till 150 MUSD. Transaktionen, som avsevärt stärker Bolidens gruvproduktion samt interna försörjning av zink- och kopparkoncentrat, är föremål för sedvanliga myndighetsgodkännanden och förväntas slutföras i mitten av 2025.”

Annual report 2024A · The company itself

“Vår kärnverksamhet är basmetaller Genom historien har metaller bidragit till mänsklighetens framsteg i både stort och smått. Efterfrågan på de basmetaller vi producerar förväntas bli högre än någonsin i takt med att klimatomställningen fortskrider.”

Annual report 2024A · The company itself

“Vårt kärnerbjudande består av basmetallerna zink, koppar, nickel och bly som alla är avgörande för samhällsfunktioner som elproduktion och -överföring, livsmedelsproduktion, transporter och sjukvård.”

Annual report 2024A · The company itself

“Rörelseresultat exkl. omvärdering av processlager Gruvor Finansiell utveckling Gruvor Merparten av Affärsområde Gruvors försäljning sker till Affärsområde Smältverk och sker på marknadsmässiga villkor. Intäkterna ökade till 21 202 (18 683) MSEK varav extern försäljning uppgick till 3 547 (1 331) MSEK.”

Annual report 2024A · The company itself

“Harjavalta noterade ett högre resultat jämfört med 2023, bland annat på grund av högre metallpriser och mindre planerat underhåll. Harjavaltas resultatökning ska också ses i ljuset av högre produktion och ökade fria metaller, delvis som en effekt av att kunna bearbeta kopparanoder från Rönnskär. Förbättrad produktivitet i Harjavaltas nickellinje bidrog också positivt.”

Annual report 2024A · The company itself

“Raw Materials and Supplies We rely on suppliers and commodity markets to secure components and raw materials such as copper, aluminum and steel.”

Annual report 2025A · The company itself

“Our reliance on suppliers and commodity markets to secure components (such as motors and valves), finished goods (including products purchased directly from suppliers for resale), and raw materials (such as copper, aluminum and steel), as well as on service providers to deliver our products, exposes us to volatility in the prices and availability of these materials, products, and services.”

Annual report 2025A · The company itself

“While the required raw materials are generally available, commodity pricing can be volatile, particularly for various grades of steel, copper, aluminum and select other commodities.”

Annual report 2025A · The company itself

“Commodity Price Exposure Some of our businesses are exposed to volatility in the prices of certain commodities, such as aluminum, steel, copper and various precious metals, among others.”

Annual report 2025A · The company itself

“Tillverkning av anläggningar för produktion av el från förnybar energi är beroende av olika metaller, exempelvis sällsynta jordartsmetal ler för magneter i vindkraftverk, koppar för överföringskablar och litium för batterier.”

Annual report 2024A · The company itself

“Branschtypiska risker finns vid utvinning och förädling av råmaterial för produktion av vindkraftverk, solcellspaneler och batterier. De sociala utmaningar som lyfts fram är bland annat osäker arbetsmiljö och att urfolks rättigheter inte respekteras. Ytterligare exempel är tvångsarbete och barnarbete då merparten av världens utvinning av vissa metaller som krävs i produktionen sker i Kina och Kongo, länder där det finns en känd problematik kring dessa frågor.”

Annual report 2024A · The company itself

“Trots den svaga marknadsmiljön för tillbehör under 2024 är vi övertygade om att dessa förvärv ger oss goda förutsättningar att dra nytta av en stark strukturell tillväxttrend inom stadsutveckling, nedmontering och återvinning. På lång sikt väntas byggmarknaden växa med 4-5% per år, och tillbehör som används för nedmontering och återvinning av stål och koppar väntas växa ännu snabbare.”

Annual report 2024A · The company itself

“Kunder som utvinner koppar och guld utgör en stor del av vår orderingång. Under de kommande åren förväntas utvinningen av flera mineraler till vilka Epiroc har betydande exponering att öka, till exempel för koppar, guld och nickel.”

Annual report 2024A · The company itself

“Under de kommande åren förväntas utvinningen av flera mineraler till vilka Epiroc har betydande exponering att öka, till exempel för koppar, guld och nickel. Vissa av dessa mineraler behövs också för övergången till en ekonomi med låga koldioxidutsläpp.”

Annual report 2024A · The company itself

“För koppar har t.ex. malmhalten minskat med 1-3% per år under de senaste 30 åren. Lägre malmhalt innebär att mer berg måste brytas för en given mängd producerad metall.”

Annual report 2024A · The company itself

“"Hållbarhetsomställningen kräver mer utvinning av metaller som koppar och nickel."”

Annual report 2024A · The company itself

“I dag sker uppskattningsvis en fjärdedel av all global kopparbrytning under jord och det förväntas öka till cirka 30% till 2030.”

Annual report 2024A · The company itself

“In the United States, net sales include basic products that contain significant amounts of commodity-priced materials, predominantly plastic, copper and steel, and other components which can be subject to volatile price changes based upon fluctuations in the commodities market. These commodity based products can represent up to approximately 15% of annual net sales.”

Annual report 2025A · The company itself

“Some of our products are, or contain significant amounts of, commodity-priced materials, predominantly plastic, copper and steel, and other components that are subject to price changes based upon fluctuations in the commodities market, which can arise from changes in domestic and international supply and demand, general inflationary and deflationary pressures, labor costs, competition, trade restrictions, such as tariffs, sanctions and retaliatory countermeasures and geopolitical conflict, among other factors.”

Annual report 2025A · The company itself

“Commodity price risk Some of the Company’s products contain significant amounts of commodity-priced materials, predominantly plastic, copper and steel, and other components which are subject to price changes based upon fluctuations in the commodities market.”

Annual report 2025A · The company itself

“Effective August 1, 2025, the U.S. President imposed tariffs of 50% on copper under Section 232.”

Annual report 2025A · The company itself

“A key raw material used in our module production process is a CdTe compound. Tellurium, one of the main components of CdTe, is mainly produced as a by-product of copper refining, and therefore, its supply is largely dependent upon demand for copper.”

Annual report 2025A · The company itself

“The global transition towards electrification, continued investment in renewable energy and the rapid expansion of data centres are all expected to drive sustained demand for key commodities, particularly copper”

Annual report 2025A · The company itself

“particularly around the timing of larger mining projects”

Annual report 2025A · The company itself

“the rapid expansion of data centres are all expected to drive sustained demand for key commodities, particularly copper”

Annual report 2025A · The company itself

“The global transition towards electrification, continued investment in renewable energy and the rapid expansion of data centres are all expected to drive sustained demand for key commodities, particularly copper.”

Annual report 2025A · The company itself

“The road to carbon-neutral emissions requires an extraordinary increase in the supply of minerals essential to the energy transition, including copper, lithium, nickel and cobalt.”

Annual report 2025A · The company itself

“Throughout 2025, the market for pumps, cyclones, and valves demonstrated resilience, supported by stable to modestly increasing production volumes and sustained high metal prices.”

Annual report 2025A · The company itself

“As with other manufacturers, the profitability of our business is affected by many factors, including: •Wholesale unit volumes •Margin of profit on each vehicle sold - which, in turn, is affected by many factors, such as: ◦Market factors - volume and mix of vehicles and options sold, and net pricing (reflecting, among other factors, incentive programs) ◦Costs of components and raw materials necessary for production of vehicles ◦Costs for customer warranty claims and additional service actions ◦Costs for safety, emissions, and fuel economy technology and equipment •A high proportion of relatively fixed structural costs, so that small changes in wholesale unit volumes can significantly affect overall profitability Although supply disruptions have resulted in a higher level of new vehicle prices, our industry has historically had a very competitive pricing environment, driven in part by excess capacity.”

Annual report 2025A · The company itself

“As a result, significant changes in commodity and energy prices, foreign currency exchange rates, or interest rates as well as increased material, freight, logistics, and similar costs could have a substantial adverse effect on our financial condition or results of operations.”

Annual report 2025A · The company itself

“Commodity price risk is the possibility that our financial results could be worse than planned because of changes in the prices of commodities used in the manufacture of our products, such as base metals (e.g., steel, copper, and aluminum), precious metals (e.g., palladium), energy (e.g., natural gas and electricity), plastics/resins (e.g., polypropylene), and battery raw materials (e.g., lithium, cobalt, and nickel).”

Annual report 2025A · The company itself

“Copper Copper is an internationally traded commodity, and its prices are determined by the major metals exchanges – the LME, COMEX and Shanghai Futures Exchange. Prices on these exchanges generally reflect the worldwide balance of copper supply and demand, and can be volatile and cyclical.”

Annual report 2025A · The company itself

“Preliminary economics indicate that the expansion would require an incentive copper price of approximately $4.00 per pound and three to four years to complete.”

Annual report 2025A · The company itself

“Revenues from our South America concentrate sales are recorded net of royalties and treatment charges (i.e., fees paid to smelters that are generally negotiated annually).”

Annual report 2025A · The company itself

“Substantially all of PTFI’s copper cathode sales contracts provide final copper pricing in a specified month (generally within one to two months of the shipment date) primarily based on quoted LME monthly average settlement copper prices.”

Annual report 2025A · The company itself

“In addition to the factors discussed above, copper prices may be affected by demand from China, which is currently the largest consumer of refined copper in the world, including as a result of geopolitical uncertainty and tension between the U.S. and China as well as uncertainties about China’s economy.”

Annual report 2025A · The company itself

“We believe our competitive position is based on the size, quality and grade of our ore bodies and our ability to manage costs compared with other producers. We have a diverse portfolio of mining operations with varying ore grades and cost structures.”

Annual report 2025A · The company itself

“We continue to advance pre-feasibility studies in the Safford/Lone Star district to define a potential significant expansion opportunity. Positive drilling conducted in recent years indicates a large, mineralized district with opportunities to pursue a significant expansion project.”

Annual report 2025A · The company itself

“We continue to evaluate and advance potential expansion opportunities at certain of our copper mines in the U.S. and South America.”

Annual report 2025A · The company itself

“Our portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant operations in the U.S. and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.”

Annual report 2025A · The company itself

“In late 2025, we achieved an annual run rate of approximately 240 million pounds of copper. We are targeting annual production of 300 million pounds of copper in 2026 from these initiatives and believe there is potential for further significant increases in recoverable metal beyond the current annual target.”

Annual report 2025A · The company itself

“PRODUCTS AND SALES Our consolidated revenues for 2025 primarily included sales of copper (75%), gold (15%) and molybdenum (8%).”

Annual report 2025A · The company itself

“Copper Products We are one of the world’s leading producers of copper concentrate, cathode and continuous cast copper rod.”

Annual report 2025A · The company itself

“During 2025, 43% of our mined copper was sold in concentrate, 33% as cathode and 24% as rod.”

Annual report 2025A · The company itself

“Table of Contents Morenci We own a 72% undivided interest in Morenci, with the remaining 28% owned by Sumitomo Metal Mining Arizona, Inc.”

Annual report 2025A · The company itself

“Copper production from three of our mines (the Morenci mine in the U.S., the Cerro Verde mine in Peru and the Grasberg minerals district in Indonesia) together totaled 70% of our consolidated copper production in 2025.”

Annual report 2025A · The company itself

“We produce copper concentrate at six of our mines in which mined ore is crushed and treated to produce a copper concentrate with copper content of approximately 20% to 30%. In the U.S., copper concentrate is produced at the Morenci, Bagdad, Sierrita and Chino mines, and a significant portion is shipped to our Miami smelter in Arizona for further processing (refer to “Other Smelting Facilities and Mining Properties” for further discussion of the Miami smelter).”

Annual report 2025A · The company itself

“We produce copper cathode at our electrolytic refinery located in El Paso, Texas, and at nine of our mines. SX/EW cathode is produced from the Morenci, Bagdad, Safford, Sierrita, Miami, Chino and Tyrone mines in the U.S., and from the Cerro Verde and El Abra mines in South America.”

Annual report 2025A · The company itself

“We manufacture continuous cast copper rod at our U.S. rod facilities primarily using copper produced at our U.S. copper mines and processing facilities.”

Annual report 2025A · The company itself

“Chino’s copper production totaled 150 million pounds in 2025, 133 million pounds in 2024 and 141 million pounds in 2023.”

Annual report 2025A · The company itself

“Tyrone’s copper production totaled 32 million pounds in 2025, 43 million pounds in 2024 and 51 million pounds in 2023.”

Annual report 2025A · The company itself

“Cerro Verde is an open-pit copper and molybdenum mining complex that has been in operation since the 1970s.”

Annual report 2025A · The company itself

“PTFI’s smelter and PT Smelting smelt and refine all of the copper concentrate from PTFI, and the PMR processes anode slimes from the smelter and PT Smelting. With the completion of its downstream processing facilities during 2025, PTFI became a fully integrated producer of refined copper and gold.”

Annual report 2025A · The company itself

“In 2025, copper anode production from PTFI’s smelter totaled 54,100 metric tons and copper cathode production from its refinery totaled 42,600 metric tons.”

Annual report 2025A · The company itself

“At normal operating rates, PTFI’s underground operations produce approximately 1.7 billion pounds of copper and 1.3 million ounces of gold per year and are among the lowest cost operations in the world.”

Annual report 2025A · The company itself

“Production from the Grasberg minerals district totaled 1.0 billion pounds of copper and 0.9 million ounces of gold in 2025, 1.8 billion pounds of copper and 1.9 million ounces of gold in 2024, and 1.7 billion pounds of copper and 2.0 million ounces of gold in 2023.”

Annual report 2025A · The company itself

“Our wholly owned Atlantic Copper smelter and refinery is located on land concessions from the Huelva, Spain, port authorities, which are scheduled to expire in 2038. The smelter has a design capacity to produce approximately 300,000 metric tons of copper per year, and the refinery has a capacity to produce 286,000 metric tons of copper per year.”

Annual report 2025A · The company itself

“Atlantic Copper’s copper anode production from its smelter totaled 249,300 metric tons in 2025, 247,600 metric tons in 2024 and 261,900 metric tons in 2023. Copper cathode production from its refinery totaled 249,600 metric tons in 2025, 254,400 metric tons in 2024 and 260,300 metric tons in 2023.”

Annual report 2025A · The company itself

“Our financial results are significantly influenced by and vary with fluctuations in the market prices of the commodities we produce, primarily copper and gold, and to a lesser extent molybdenum.”

Annual report 2025A · The company itself

“According to a 2025 report from Wood Mackenzie, a widely followed independent metals market consultant, copper’s end-use markets (and their estimated shares of total consumption) are electrical applications (30%), construction (24%), consumer products (21%), transportation (14%) and industrial machinery (11%).”

Annual report 2025A · The company itself

“Generally, copper cathode is sold to rod, brass or tube fabricators.”

Annual report 2025A · The company itself

“We believe long-term fundamentals for copper are favorable with growing demand supported by copper’s critical role in the global transition to renewable power, electric vehicles and other carbon-reduction initiatives, continued urbanization in developing countries, data centers and artificial intelligence (AI) developments and growing connectivity globally; however if these markets, industries and transitions do not develop as we expect, or develop more slowly than we expect, future demand and prices for copper may be negatively affected, impacting our business.”

Annual report 2025A · The company itself

“We believe long-term fundamentals for copper are favorable with growing demand supported by copper’s critical role in the global transition to renewable power, electric vehicles and other carbon-reduction initiatives, continued urbanization in developing countries, data centers and artificial intelligence (AI) developments and growing connectivity globally; however if these markets, industries and transitions do not develop as we expect, or develop more slowly than we expect, future demand and prices for copper may be negatively affected, impacting our business.”

Annual report 2025A · The company itself

“Suppliers of Raw Materials, Components and Equipment Our primary raw material inputs are steel, copper and aluminum, all of which are purchased from third parties and, in many cases, are part of machined or manufactured components.”

Annual report 2025A · The company itself

“The principal raw materials that we use to produce our products include steel, copper and aluminum as well as batteries and advanced electronic components.”

Annual report 2025A · The company itself

“The costs of certain raw materials (including, but not limited to, nickel, titanium, aluminum, cobalt, and superalloy materials) necessary for the manufacture of Howmet’s products and other manufacturing and operating costs are influenced by market forces, including inflation, supply and demand, and shortages.”

Annual report 2025A · The company itself

“We use a variety of raw materials in the production of our products including steel, aluminum, brass, copper, bronze, zinc, nickel, plastics, elastomers and petrochemicals. We also purchase certain electrical and electronic components, including solenoids, printed circuit boards, integrated circuit chips and cord sets from a number of suppliers.”

Annual report 2025A · The company itself

“Certain of these materials are sourced from a limited number of suppliers. These materials may also be a key source of materials for many other companies in our industry or within industrial manufacturers in general. As such, in periods of rising demand for these materials, we may experience both increased costs and limited supply. Significant shortages in the availability of these materials or significant price increases could increase our operating costs and adversely impact the competitive positions of our products, which could adversely impact our results of operations.”

Annual report 2025A · The company itself

“Large or rapid increases in the cost of raw materials and component parts, substantial decreases in their availability or our dependence on particular suppliers of raw materials and component parts could materially and adversely affect our operating results. Our primary raw materials, directly and indirectly, are cast iron, aluminum and steel. We also purchase a large number of motors and, therefore, also have exposure to changes in the price of copper, which is a primary component of motors.”

Annual report 2025A · The company itself

“Additionally, we purchase a large number of motors and, therefore, are also exposed to changes in the price of copper, which is a primary component of motors.”

Annual report 2025A · The company itself

“Our business may be materially and adversely impacted by changes in U.S. or global economic conditions, including recessions, economic downturns, inflation, deflation, fluctuations in interest rates, consumer spending rates, energy availability and commodity prices, and the effects of governmental initiatives to manage economic conditions.”

Annual report 2025A · The company itself

“Compressors, motors and controls constitute our most significant component purchases, while steel, aluminum and copper account for the bulk of our raw material purchases.”

Annual report 2025A · The company itself

“We depend on raw materials, such as steel, copper and aluminum, and components purchased from third parties to manufacture our products.”

Annual report 2025A · The company itself

“We utilize a cash flow hedging program to mitigate our exposure to volatility in the prices of metal commodities used in our production processes.”

Annual report 2025A · The company itself

“The inflation or deflation of commodity and other prices could affect our prices, demand for our products, and our sales. Prices of certain commodity products, including lumber, copper, energy, and other raw materials, 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, tariffs and trade restrictions, and periodic delays in delivery.”

Annual report 2026A · The company itself

“Gross Profit and Net Earnings Gross profit in the year increased from the prior year comparable period primarily due to higher realized copper and gold prices, higher sales volumes, and favourable foreign exchange.”

Annual report 2024A · The company itself

“Production Copper production in the quarter and year was lower than in the prior year comparable periods primarily due to lower grades and throughput. Annual copper production was within the most recently disclosed production guidance range.”

Annual report 2024A · The company itself

“Gross profit for the year was higher than in the prior year comparable period primarily due to higher realized zinc and copper prices, lower treatment and refining charges and higher zinc and lead sales volume.”

Annual report 2024A · The company itself

“Cash provided by operating activities related to continuing operations during the year was $473.6 million higher than in the prior year primarily due to higher sales volumes combined with favourable realized copper and gold prices, including the impacts of upward provisional pricing adjustments on prior year concentrate sales on an annual basis.”

Annual report 2024A · The company itself

“Commodity prices, primarily copper, zinc, gold and nickel are key performance drivers and fluctuations in the prices of these commodities can have a dramatic effect on the results of operations. Prices can fluctuate widely and are affected by numerous factors beyond the Company’s control. The prices of metals are influenced by supply and demand, exchange rates, interest rates and interest rate expectations, inflation or deflation and expectations with respect to inflation or deflation, speculative activities, changes in global economies, and geopolitical, social and other factors.”

Annual report 2024A · The company itself

“If market prices for metals fall below the Company’s full production costs and remain at such levels for any sustained period of time, the Company may experience losses and may decide to discontinue mining operations or development of a project at one or more of its properties. If the prices drop significantly, the economic prospects of the mines and projects in which 50 the Company has an interest could be significantly reduced or rendered uneconomic, in which case the Company may need to restate its Mineral Resource and Mineral Reserve estimates.”

Annual report 2024A · The company itself

“About Lundin Mining Lundin Mining Corporation (“Lundin Mining” or the “Company”) is a diversified Canadian base metals mining company with projects or operations focused in the Americas and primarily producing copper, gold and nickel.”

Annual report 2024A · The company itself

“Revenue in 2024 benefited from increased realized copper and gold prices, combined with record production of 369,067 tonnes of copper, record production of 191,704 tonnes of zinc, and 158 thousand ounces ("koz") of gold, which achieved the Company's most recently disclosed annual guidance for these metals.”

Annual report 2024A · The company itself

“Operational Performance Candelaria (80% owned): Candelaria produced, on a 100% basis, 162,487 tonnes of copper, approximately 93,000 ounces of gold and 2.0 million ounces of silver during the year.”

Annual report 2024A · The company itself

“Caserones (70% owned): Caserones produced, on a 100% basis, 124,761 tonnes of copper and 3,183 tonnes of molybdenum, both within the most recently disclosed 2024 annual production guidance ranges.”

Annual report 2024A · The company itself

“Chapada (100% owned): Chapada produced 43,261 tonnes of copper and approximately 65,000 ounces of gold during the year, both metals were within the most recently disclosed 2024 production guidance ranges.”

Annual report 2024A · The company itself

“Neves-Corvo (100% owned): Neves-Corvo produced 28,228 tonnes of copper and a record 109,571 tonnes of zinc during the year.”

Annual report 2024A · The company itself

“Caserones (Chile) Caserones is an open pit copper-molybdenum mine which produces high-quality copper concentrate, copper cathode and molybdenum concentrate. Lundin Mining is the operator after acquiring a 51% interest in Minera Lumina Copper Chile on July 13, 2023, with JX Metals Corporation holding the remaining 49% interest. In July 2024, Lundin Mining increased its ownership to 70%, with JX Metals Corporation holding the remaining 30% interest.”

Annual report 2024A · The company itself

“The processing plant has a capacity of 24.0 mtpa, producing high-quality gold-rich copper concentrate. The primary metal is copper, with gold and silver as by-product metals.”

Annual report 2024A · The company itself

“The plant has a processing capacity of 0.7 mtpa, producing nickel and copper in concentrates.”

Annual report 2024A · The company itself

“Neves-Corvo (Portugal) Neves-Corvo is located 200 km southeast of Lisbon, Portugal, in the western part of the Iberian Pyrite Belt and consists of an underground mine and on-site processing facilities. The copper plant has a processing capacity of up to 2.8 mtpa, producing copper in concentrate, and the zinc plant has an expanded capacity of 2.5 mtpa producing zinc and lead concentrates. The primary metal is copper, with zinc, lead and silver as by-product metals.”

Annual report 2024A · The company itself

“Products are zinc, lead and copper concentrates.”

Annual report 2024A · The company itself

“Operating environment Market activity in Metso’s customer industries remained solid throughout 2025. However, tariffs and broader macro‑economic uncertainty continued to slow some customers’ investment decisions related to new equipment purchases. In the Minerals segment, the number of requests for quotations stayed at a high level all year as customers actively planned to increase the production of metals needed for the electrification of society. This development was particularly supported by high market prices for copper and gold.”

Annual report 2025A · The company itself

“Orders received increased by 3% year-on-year, thanks to aftermarket and large equipment orders. Aftermarket orders increased by 4%, as activity - especially related to rebuilds and modernizations - was higher compared to 2024.”

Annual report 2025A · The company itself

“This shift demands large investments in renewable power generation, transmission infrastructure and battery technologies. As a result, the supply of key metals, such as nickel, copper, lithium, zinc, and manganese, must increase rapidly and significantly.”

Annual report 2025A · The company itself

“Electrification will increase the demand for certain metals, such as copper and other battery metals, which will strengthen the demand for minerals and hence the outlook for mining and Metso’s business. Short Medium Long CLIMATE CHANGE ADAPTATION Climate change impacts the physical environment.”

Annual report 2025A · The company itself

“Renewables and electrification would create strong demand for copper and battery metals, and spending on infrastructure accelerates.”

Annual report 2025A · The company itself

“Due to an increase in demand and reductions in ore grades, the footprint of copper and other energy transition materials is likely to increase rapidly. Decreasing ore grades will require larger operational footprints, resulting in larger amounts of tailings.”

Annual report 2025A · The company itself

“Rising raw material costs and availability challenges further increase the need for sustainable and circular solutions.”

Annual report 2025A · The company itself

“Metso is well-positioned in the fastest-growing metals and critical minerals, such as nickel, copper, lithium, zinc and manganese, with a comprehensive equipment and aftermarket offering and strong capabilities in full flowsheet offering.”

Annual report 2025A · The company itself

“For metals refining customers, Metso offers a comprehensive portfolio of modern smelting solutions for the treatment of primary and secondary raw materials. For example, the Metso Plus flash smelting process is currently the most widely used copper smelting method globally, delivering high metal recovery at the lowest total cost of ownership as well as providing the most effective emissions control.”

Annual report 2025A · The company itself

“DRI smelting can replace traditional blast furnaces used in iron and steel making, which generate most of the CO2 emissions in steel production. • Metso Plus orders included complete flotation flowsheet beneficiation and dewatering equipment for a copper-gold project in Pakistan, key equipment for the first greenfield copper concentrator of this scale in Australia, a portable plug-and-play High Pressure Grinding Roll (HPGR) circuit for gold operation in Australia, a comprehensive suite of minerals processing equipment for two strategic projects in Malaysia, key process equipment for high-grade gold projects both in Co-operative Republic of Guyana (South America) and Namibia (Africa), key process equipment for a greenfield iron ore concentrator plant and for a copper concentrator plant in Oman as well as orders for key process equipment for a greenfield critical minerals greenfield project in the US.”

Annual report 2025A · The company itself

“Average gold prices for 2025 were $3,432 per ounce (2024: $2,386; 2023: $1,941), average copper prices for 2025 were $4.51 per pound (2024: $4.15; 2023: $3.85), average silver prices for 2025 were $40.03 per ounce (2024: $28.27; 2023: $23.35), average lead prices for 2025 were $0.89 per pound (2024: $0.94; 2023: $0.97), and average zinc prices for 2025 were $1.30 per pound (2024: $1.26; 2023: $1.20).”

Annual report 2025A · The company itself

“This project includes two panel caves to recover approximately 5 million ounces of gold reserves and 1.1 million tonnes of copper reserves.”

Annual report 2025A · The company itself

“En stor del av koncernens kostnader är materialkostnader i form av råvaror och komponenter. Till största delen består dessa av metaller vars priser är fastställda i dollar och noterade på Londons metallbörs, LME.”

Annual report 2024A · The company itself

“Under 2024 har även råvaror såsom nickel, koppar och aluminium till viss del prissäkrats genom terminskontrakt.”

Annual report 2024A · The company itself

“NKT’s production activities are dependent on large amounts of essential raw materials and commodities. These input costs may be subject to price volatility risk”

Annual report 2025A · The company itself

“copper and aluminium facing potential structural shortages by 2030.”

Annual report 2025A · The company itself

“On the one hand, increasing supply-chain localisation is creating uncertainty in access to key materials, with copper and aluminium facing potential structural shortages by 2030.”

Annual report 2025A · The company itself

“NKT is exposed to and diligently managing the inherent uncertainty in pricing of commodities and raw materials, which can affect production costs, profit margins, and overall financial performance.”

Annual report 2025A · The company itself

“Supply interruption and raw material availability risk pertains to the uncertainty associated with the accessibility and adequacy of raw materials essential for manufacturing and operational processes. This risk is influenced by factors such as market dynamics, geopolitical environment and events affecting supply chains, environmental conditions impacting resource extraction, regulatory changes, and the number of available suppliers.”

Annual report 2025A · The company itself

“The scope of the DMA is defined by segmenting upstream suppliers by economic relevance and potential impact to identify high risk materials (copper, aluminium, steel, lead, XLPE, PVC) and to map key supply chains.”

Annual report 2025A · The company itself

“In the semiconductor manufacturing process, the primary raw materials used include silicon and a range of essential metals, such as aluminum, copper, tin, and silver. These raw materials are integral to the creation and functionality of semiconductor devices.”

Annual report 2024A · The company itself

“These activities, several tiers removed from our direct suppliers, include mineral extraction (copper, tin, gold, tungsten) and initial processing. These activities carry heightened risks of child and forced labor, particularly in conflict-affected regions like the Democratic Republic of the Congo (DRC) and surrounding countries for tin, tantalum, tungsten, and gold (3TG) minerals, and in parts of Asia for processing operations.”

Annual report 2024A · The company itself

“The alloy surcharge clause as well as daily fixed pricing of stainless steel reduce the risk arising from the time difference between raw material purchase and product delivery. However, the risk is still significant because the delivery cycle in production is longer than the alloy surcharge mechanism expects and the daily fixed pricing can also deviate from this cycle depending on the timing of the delivery.”

Annual report 2025A · 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

“During the year the volatility for nickel price has been in the range of 11-23%.”

Annual report 2025A · The company itself

“The company remains exposed to risks related to volatile metal prices, especially nickel. Financial derivatives are used to manage the impacts of nickel price changes.”

Annual report 2025A · The company itself

“Outokumpu is exposed to metal price risk for example through the purchase of raw materials as well as sale of stainless steel products where the price of alloy metals is based on market prices.”

Annual report 2025A · The company itself

“(E5-5-MDR-M-77-(b)) Products and materials Outokumpu’s main products are semi-finished products of stainless steel and ferrochrome. While the stainless steel semi-finished products (mainly coils and plates) are used by Outokumpu’s customers to manufacture stainless steel products, ferrochrome is used as an ingredient in Outokumpu steel and other producers’ steel.”

Annual report 2025A · The company itself

“Kaivosmarkkinat hyötyivät vuoden 2025 aikana nousseista metallien maailmanmarkkinahinnoista, minkä seurauksena aktiviteetti oli läpi vuoden maailmanlaajuisesti korkealla tasolla.”

Annual report 2025A · The company itself

“In addition, we sell various grades of nonferrous metals including copper, brass, aluminum, and stainless steel, to smelters, refineries, alloy manufacturers, specialty mills and other consumers, including our aluminum operations.”

Annual report 2025A · The company itself

“We sell various grades of processed nonferrous scrap to end-users such as aluminum sheet and manufacturers (including our aluminum operations), ingot manufacturers, brass and bronze ingot makers, copper refineries, smelters, specialty steelmakers, alloy manufacturers, wire and cable producers, and utilities.”

Annual report 2025A · The company itself

“Påverkan, risker och möjligheter Styrning Mål Påverkan i värdekedjan Risker och möjligheter för Svedbergs Group Beroendet av jungfruliga material medför risker relaterade till råvaruprisutvecklingen samt tillgången till specifika råvaror.”

Annual report 2024A · The company itself

“Detta sker genom regelbundna diskussioner och uppdateringar av de reduktions- Svedbergs Groups primära åtgärder för att minska klimatpåverkan fokuserar på de material och produkter som koncernen köper in. Detta arbete bygger i hög Slutligen har lastportar bytts ut för att skapa en bättre arbetsmiljö vid utlastning och för att minska värmeförluster.”

Annual report 2024A · The company itself

“The principal raw materials that we use include plastic resins for molding; precious metals such as gold, silver, and palladium for plating; and other metals such as copper, aluminum, brass, and steel for manufacturing cable, contacts, and other parts that are used for cable and component bodies and inserts.”

Annual report unknown yearA · The company itself

“We are a large buyer of resins, chemicals, additives, and metals, including copper, gold, silver, palladium, aluminum, brass, steel, and zinc.”

Annual report unknown yearA · The company itself

“At fiscal year end 2025, our commodity hedges, which related to expected purchases of 43 Table of Contents gold, silver, copper, and palladium, were in a net gain position of $80 million and had a notional value of $569 million.”

Annual report unknown yearA · The company itself

“Under 2024 hade Bolaget cirka 17 000 aktiva direktleverantörer, varav cirka 200 är leverantörer av material och komponenter som används i Ericssons hårdvara.”

Annual report 2024A · The company itself

“De mineraler som omfattas av programmet är tenn, tantal, volfram och guld samt kobolt och glimmer.”

Annual report 2024A · The company itself

“We rely on suppliers to secure commodities, particularly steel and non-ferrous metals, and third-party parts and components, including electronic components, required for the manufacture of our products.”

Annual report 2025A · The company itself

“In addition, higher prices could reduce demand for these products, resulting in lower sales volumes.”

Annual report 2025A · The company itself

“Some of Grainger’s products contain significant amounts of commodity-priced materials, such as steel, copper, petroleum derivatives, rare earth minerals, or other materials or inputs required to manufacture certain products and are subject to price changes based on fluctuations in the commodities market.”

Annual report 2025A · The company itself

“We purchase energy, steel, aluminum, copper, rubber and rubber-based materials, chemicals, polymers and other key manufacturing inputs from outside sources, and traditionally have not had long-term pricing contracts with our pure raw material suppliers. The costs of these raw materials have been volatile historically and are influenced by factors that are outside our control, including inflationary pressure.”

Annual report 2025A · The company itself

“· Natural resources, such as wind and sun. · Minerals and metals, such as steel and copper, and critical raw materials.”

Annual report 2025A · The company itself

“We have introduced a broader ‘Political risk’ including the ‘US regulatory risks’ from 2024 but now reflecting the geopolitical uncertainty across our core markets in general (EU/UK, US, and APAC), and we have seen changes in the relative importance of our top risks from last year. ‘Supply chain risk’ is still assessed to be our largest risk. Supply-demand bottleneck risks appear to be easing in the short term, however, there are longer term supply chain risks which may threaten Ørsted’s strategic ambitions if not resolved, including concentration of risk on few European suppliers.”

Annual report 2025A · The company itself

“Ørsted’s and the key suppliers’ dependencies on copper and rare earths for production increases risk exposure due to supply availability and price volatility.”

Annual report 2025A · The company itself

“Each asset in our portfolio requires virgin materials such as steel, copper, rare earth elements, and composite materials, contributing to resource depletion and increasing material scarcity across sectors.”

Annual report 2025A · The company itself

“Our dependence on critical raw materials required for the energy transition exposes us to potential supply availability and price volatility risks. This exposure is shaped by growing demand for renewable-energy technologies and arises from highly centralised and vulnerable supply chains for the extraction, refinement, and processing of critical minerals, intensifying cross-sector demand for transition-critical materials, and commodity price and geopolitical volatility in regions with often elevated sustainability risk profiles.”

Annual report 2025A · The company itself

“To create a world that runs entirely on green energy. · Supply chain collaboration and partnerships: Beyond supplier engagement, we pursue long-term collaborations with strategic suppliers to develop and scale lower-emissions solutions across products and services. This includes advancing green technologies and pathways to decarbonise key components and manufacturing processes, and supporting the availability of lower-emissions materials and offerings for Ørsted and the wider offshore wind industry. · Tracking and measuring: Our internally developed and maintained life cycle analysis (LCA) approach gives us a reliable view of the emissions profile of our projects, enabling better-informed commercial and procurement decisions towards our net-zero pathway, and providing the basis for calculating and reporting the emissions associated with our buildout.”

Annual report 2025A · The company itself

“By working with suppliers on Action: Electric vehicle fleet lower-emissions alternatives and emerging solutions such as circular practices, we can reduce emissions while contributing to broader sustainability goals. In 2025, we strengthened the governance of our company-wide decarbonisation road map to support our target to reach net zero by 2040.”

Annual report 2025A · The company itself

“Our focus remains on high-impact suppliers, representing more than half of our total procurement spend and the most carbon-intensive parts of our supply chain. We set clear expectations for adopting science-based targets (through the SBTi), providing transparent climate reporting (through the Carbon Disclosure Project (CDP)), and transitioning to renewable electricity. Climate requirements are now included in standard contracts and tenders for selected high-impact categories.”

Annual report 2025A · The company itself

“In 2025, we continued our collaboration with industry peers and the Carbon Trust through the Offshore Wind Sustainability Joint Industry Programme (SUSJIP). The work focuses on developing a standardised carbon footprint measurement methodology for offshore wind assets. The methodology was further refined in 2025 and is expected to be launched in 2026.”

Annual report 2025A · The company itself

“Specialties Segment Our Specialties business optimizes our portfolio of bromine and highly specialized lithium solutions.”

Annual report 2025A · The company itself

“We purchase a wide range of raw materials, including steel, zinc, brass and other non-ferrous metals, as well as other parts and components, such as electronic components, to support our production facilities.”

Annual report 2025A · The company itself

“We procure certain products, including raw materials and other commodities, including steel, zinc, brass and other non-ferrous metals, as well as parts, components (including electronic components) and logistical services from supplier partners located throughout the world.”

Annual report 2025A · The company itself

“The Company purchases a wide variety of raw materials for the manufacture of its products, including (i) precious metals such as gold, silver and palladium, (ii) aluminum, steel, copper, titanium and metal alloy products, (iii) copper wire and optical fiber and (iv) plastic materials.”

Annual report 2025A · The company itself

“The Group is directly and indirectly exposed to raw material prices.”

Annual report 2024A · The company itself

“Varumärket marknadsför olika produkter inom kyla och HVAC, såsom verktyg, ventiler och kopparrör.”

Annual report 2024A · The company itself

“För närvarande täcks de största produktgrupperna och kategorierna inom företaget: HVAC och HVACtillbehör, kylkomponenter och enheter, köldmedier, verktyg och koppar.”

Annual report 2024A · The company itself

“The Plumbing & Refrigeration group manufactures copper tubing and copper, brass, aluminum and stainless-steel fittings and components for the plumbing, heating, ventilation, air conditioning and refrigeration (HVAC-R) market; custom heat exchange, ducting, air handling units and energy recovery solutions for the HVAC-R market; HVAC systems and structures for data centers, pharmaceutical and industrial sites; and aluminum and brass forgings for many commercial and industrial applications. Key raw materials, including aluminum, copper and stainless steel are widely available.”

Annual report unknown yearA · The company itself

“The availability of raw materials, which are primarily steel, zinc, manganese and nickel-based chemistries, is currently sufficient.”

Annual report unknown yearA · The company itself

“Our equipment is used to extract and haul copper, iron ore, coal, oil sands, aggregates, gold and other minerals and ores, as well as a variety of heavy construction applications.”

Annual report 2025A · The company itself

“Rights of Indigenous Peoples The supply chains for metals and minerals are long and opaque. There is a potential for negative impacts on the rights of indigenous peoples in these supply chains.”

Annual report 2024A · The company itself

“Commodity Price Risk We are exposed to fluctuations in commodity prices due to contractual agreements with component suppliers. In order to protect ourselves against future price volatility and, consequently, fluctuations in gross margins, we periodically enter into commodity swap and forward contracts with designated banks and other counterparties to fix the cost of certain raw material purchases with the objective of minimizing changes in inventory cost due to market price fluctuations.”

Annual report 2025A · The company itself

“Information Concerning Eaton's Business in General Raw Materials Eaton's major requirements for raw materials include iron, steel, copper, nickel, aluminum, lead, silver, gold, titanium, rubber, plastic, electronic components, chemicals, and fluids. Materials are purchased in various forms, such as coils, sheets, strips, ingots, bars, extrusions, castings, forgings, stampings, powder metal, plastic resins, and pellets.”

Annual report 2025A · The company itself

“Marine minerals The electrification of society is an important part of the energy transition. In its “net zero 2050” scenario, Net Zero by 2050 A Roadmap for the Global Energy Sector (2021), the International Energy Association (IEA) forecasts a significant increase in the demand for minerals that are key components in the electrification supply chain, such as lithium, copper, and cobalt. Currently, these minerals are mined onshore, but it is expected that mineral deposits on or beneath the seafloor, called “marine minerals,” are likely to play an important role in meeting this demand in the coming years and decades.”

Annual report 2024A · The company itself

“We are exposed to market risk of increases in certain commodity prices of materials, such as copper and steel, which are used as components of supplies or materials utilized in our operations.”

Annual report 2025A · The company itself

“In addition, as we are building new, or expanding existing, IBX data centers, we are subject to commodity price risk for building materials related to the construction of these IBX data centers, such as steel and copper.”

Annual report 2025A · The company itself

“Materials Our manufacturing operations employ a wide variety of raw materials, including electronic components, steel, plastics and other petroleum-based products, aluminum, and copper.”

Annual report 2025A · The company itself

“Specifically, to minimize inflationary impacts, we have a sourcing process to monitor commodity price fluctuations across the ferrous, non-ferrous, precious metals, and energy commodities.”

Annual report 2025A · The company itself

“Beroende på produkt köper vi in antingen råmaterial (i huvudsak metaller och mineraler), processat material (så som plaster och elektronik) eller delar av produkter.”

Annual report 2024A · The company itself

“Potentiell negativ påverkan I vissa insatsmaterial i köpta elektronikkomponenter, såsom cobolt, koppar, aluminium, zink, nickel kan förekomma vattenförorening i samband med utvinning.”

Annual report 2024A · The company itself

“HANZAs mål för avfall och resursförbrukning Måluppfyllnad Årligen minska avfall i förhållande till omsättningen för elektronik (ton spill/MSEK) Uppfyllt Uppfyllt Årligen minska avfall i förhållande till omsättningen för mekanik (ton spill/MSEK) Uppfyllt Uppfyllt Årligen minska farligt avfall i förhållande till omsättningen för elektronik (ton farligt avfall/ MSEK) Ej uppfyllt Delvis uppfyllt Årligen minska farligt avfall i förhållande till omsättningen för mekanik (ton farligt avfall/ MSEK) Ej uppfyllt Uppfyllt Tillverkade produkter per tillverkning sområde, enheter Antal (miljoner) Elektronik 36,6 22,6 Mekanik 14,4 14,6 Totalt 51 37,2 Resursanvändning 2024 2023 Stål, ton 19 918 N/A Järn, ton 141 N/A Aluminium, ton 411 N/A Mässing, ton 112 N/A Koppar, ton 28 N/A Brons, ton 4 N/A Totalt material, ton 20 614 22 740 Vatten, m i förhållande till intäkter 0,010 0,010 Färdiga produkter Produkter som lämnar HANZA är producerade alternativt förädlade i HANZAs produktionsprocesser för kunders räkning.”

Annual report 2024A · The company itself

“Fluctuation in commodity prices of steel and nickel may also impact the  has not yet undertaken any hedging activity and may experience both upside and down- side risks from these positions.”

Annual report 2024A · The company itself

“Exchanges Segment We operate regulated marketplaces for the listing, trading and clearing of a broad array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange and equities as well as corporate and exchange-traded funds, or ETFs.”

Annual report 2025A · The company itself

“The workers most likely to be materially impacted by social and human rights -related issues are those involved in the extraction of the minerals that are used in components, such as aluminum and copper, the production of components, as well as their transportation.”

Annual report 2025A · The company itself

“Teräksen hinnat olivat neljännen vuosineljänneksen lopussa edellisvuotta alhaisemmalla tasolla, kun taas kuparin hinnat olivat korkeammalla tasolla.”

Annual report 2025A · The company itself

“Vi bruker primære- og kritiske råvarer som nikkel, kobolt og kobber i våre produkter, noe som kan påvirke miljø, tilgjengelighet og kostnader.”

Annual report 2024A · The company itself

“Kongsberg Defence & Aerospace bruker resirkulerbare materialer som aluminium, stål og kobber.”

Annual report 2024A · The company itself

“Further, our production has been and may in the future be impacted if we or our suppliers are unable to procure our requirements for various raw materials, including, among others, brass, copper, resins, titanium dioxide and zinc.”

Annual report 2025A · The company itself

“On August 1, 2025, the U.S. administration implemented additional changes to its tariff policy, including the suspension of the de minimis exemption, expiration of the 10% baseline tariff, implementation of revised reciprocal tariffs tailored to each trading partner, and the imposition of tariffs on particular goods (e.g., copper).”

Annual report 2026A · The company itself

“Ökat utbyte av råmaterial (koppar, indium, gallium, selen) per sputtertarget, med bibehållen kvalité.”

Annual report 2024A · The company itself

“The price and availability of commodities used in our products, such as gold, copper and silicon, may adversely impact our ability to deliver our products in a timely and cost-effective manner, and may adversely affect our business and results of operations.”

Annual report 2025A · The company itself

“Genomfört under 2024 •Uppgradering av koncerngemensamma affärssystemet för bättre säkerhet och fler funktioner Fördelning råmaterial Stål 30% 22% 7% Koppar •Automatisering & digitalisering inom MPS •Förbättrad service genom automatiserade verktyg och implementering av den digitala plattformen Munters Academy Papper Aluminium 6% •Ansvarsfulla inköp och stark leveranskedja med målet att minska antalet leverantörer Ansvarsfulla inköp och stark leverantörskedja Polystyrene & Polypropylen 3% •Effektivare flöde genom integrerad process mellan försäljning och produktionsplanering Övrigt 32% Ansvarsfulla inköp kräver en stark leverantörskedja.”

Annual report 2024A · The company itself

“Munters produkter tillverkas med naturresurser såsom aluminium, koppar, stål och papper. Plast och glasfiber används också i vissa komponenter som företaget köper in eller tillverkar. För förpackningar används trä, kompletterat med kartong och plastfilm.”

Annual report 2024A · The company itself

“De mest förekommande råmaterialen i Munters produkter, sett till vikt, är kolstål, aluminium och koppar. Dessa metaller är, om de demonteras och separeras, i stor utsträckning återvinningsbara.”

Annual report 2024A · The company itself

“A significant portion of Nel’s greenhouse gas inventory stems from purchased goods, such as metals, steel, nickel, platinum and iridium.”

Annual report 2024A · The company itself

“I tillegg er det etterspørsel etter aluminium som et lettere, billigere og mer bærekraftig alternativ til kobber.”

Annual report 2024A · The company itself

“Our reliance on suppliers (including third-party manufacturers) and commodity markets to secure the raw materials and components used in our products exposes us to volatility in the prices and availability of these materials.”

Annual report 2025A · The company itself

“We are exposed to volatility in the prices of commodities used in some of our products and component parts, such as steel, aluminum and copper, among others.”

Annual report 2025A · The company itself

“We primarily use steel, brass, copper, aluminum, nickel, rubber and thermoplastic materials and chemicals as the principal raw materials in our products.”

Annual report 2026A · The company itself

“Kritiske metaller og afhængighed af sårbare økosystemer (aluminium, kobber) Fysisk/transitionel Kritiske metaller som fx aluminium er forbundet med betydelige risici, fordi materialet er følsomt over for globale markedsforhold, politiske beslutninger og miljøreguleringer. Det kan føre til uforudsete omkostninger, forsinkelser og udfordringer med at leve op til bæredygtighedskrav.”

Annual report 2025A · The company itself

“— BNP-tillväxt och resursintensiv industriutveckling — En växande medelklass — Metall och mineralpriser — Elektrifiering — Produktionsnivåer i befintliga gruvor och expansionsprojekt (orörd samt tidigare exploaterad mark) — Produktivitetsförbättringar och ny teknologi, till exempel automatisering och elektrifiering — Krav inom områdena miljö, hälsa och säkerhet Infrastruktur — BNP-tillväxt/urbanisering — Infrastrukturinvesteringar och utgifter — Statliga stimulansprogram — Produktion av ballastmaterial — Cementförbrukning — Infrastrukturinvesteringar och utgifter Gruvor Huvudsakligen globala konkurrenter som Epiroc, Caterpillar och Komatsu Mining.”

Annual report 2024A · The company itself

“Furthermore, increased demand for battery technology may also increase the costs to the Company for both the battery cells as well as the underlying raw materials such as cobalt and lithium, among others.”

Annual report 2026A · The company itself

“Although Tieto does not directly source raw materials, it partly relies on suppliers for electronic components that may include minerals like cobalt and tin, often sourced from areas known for forced labour. This may be the case especially in artisanal mining, mainly taking place in African countries.”

Annual report 2025A · The company itself

“Based on the outstanding balances of floating rate debt, net of interest rate swap agreements, our annual net interest expense would increase with increases in variable interest rates at December 31, 2025 and 2024 by approximately: Basis point change scenario +100 $ 10.8 $ 11.0 +200 21.5 21.9 Commodity Risk We are subject to commodity risk from fluctuating prices of certain raw materials, steel, copper and aluminum and electronic components.”

Annual report 2025A · The company itself

“Parts, components and raw materials commonly used in our products include motors, fabricated parts, castings, magnets, bearings, seals, batteries, printed circuit boards ("PCBs") and electronic components, including semiconductors, as well as commodities, including steel, brass, nickel, copper, aluminum, rare earth minerals and plastics.”

Annual report 2025A · The company itself

“Glaston purchases electrical and metal components primarily from suppliers located in close proximity to the production plants.”

Annual report 2025A · The company itself

“Due to its capital structure and the nature of its operations, the group is exposed to the following nancial risks: market risk (including foreign exchange rate risk, raw material price risk, and interest rate risk), credit risk as well as liquidity and capital management risk.”

Annual report 2024A · The company itself

“Nolato använde under året 1 342 ton metaller, metaller används exempelvis i en del produkter som ingjuts.”

Annual report 2024A · The company itself

“Table of Contents Overall Composition of Invested Assets Invested assets as of December 31, 2025, were predominantly high quality and broadly diversified across asset class, individual credit, industry and geographic location. Asset allocation is determined based on cash flow and the risk/return requirements of our products. As shown in the following table, the major categories of invested assets are fixed maturities and mortgage loans.”

Annual report 2025A · The company itself