SSP: SSP : Sustainability Report 2024

SSP Group plc Sustainability Report 2024 Ourjourney to a sustainable future 2 SSP Group plc Sustainability Report 2024 Introduction Our strategic approach Sustainability in our markets Product Planet People Governance Welcome to our 2024SustainabilityReport We are the food travel experts. Present in 37 countries, we design, create and operate restaurants, bars, cafés, lounges and convenience retail outlets in locations where people are on the move. Whether our customers are flying abroad on holiday or commuting to work by train, we are committed to making their food and drink experience the best part of the journey. It is this purpose that drives our strategy, culture and aspiration to be the world's best travel food and beverage company. We have a wide portfolio of brands, including our own and those we franchise. These cater to a variety of customer needs - from well- known grab 'n' go sandwich shops and cafés to casual dining restaurants and bespoke high- end concepts. About this report Sustainability is an important strategic priority at SSP and touches all aspects of our business. This report details our Sustainability Strategy, our performance throughout 2024 and reflects our journey to a sustainable future. We have a long, proud history of implementing local social and environmental initiatives in our markets around the world. In 2021, we took a step change in our approach, launching our first global Sustainability Strategy. The development of our strategy is built upon our strong foundation from these local initiatives and focuses on the most material issues for our business and stakeholders, backed by clear and measurable targets. While united under our global framework, our decentralised business model enables each region and market to tailor their approach to local circumstances. As such, this report features Group-wide strategies alongside regional and market-level case studies and examples that showcase our strategy in action. The reporting period relates to our 2024 financial year, from 1 October 2023 to 30 September 2024. All references in this report to target dates, base years and performance relate to our financial year-end, unless otherwise stated. Contents Introduction 2 Our strategic approach 7 Sustainability in our markets 12 Product 23 Planet 30 People 40 Governance 52 3 SSP Group plc Sustainability Report 2024 Introduction Our strategic approach Sustainability in our markets Product Planet People Governance Our reporting approach We are committed to providing our stakeholders with clear, consistent and comparable sustainability disclosures. How and where we report We consider and report on sustainability disclosures with reference to, or in line with, the following global reporting frameworks 1 : Global Reporting Initiative (GRI): Universal Standards 2021 The GRI Sustainability Reporting Guidelines provide a comprehensive set of reporting standards covering economic, environmental and social impacts. Sustainable Accounting Standards Board (SASB): Restaurants Standard SASB has industry-specific sustainability standards that identify financially material topics and associated metrics. The SSP website includes Our Annual Report 2024 our policies, statutory provides details of our statements and additional Group Strategy and sustainability information performance at: at: foodtravelexperts.com . foodtravelexperts.com/ investors/annualreport . journey The best pa t of the Our Sustainability Data Book is a downloadable Excel document that includes: Our performance data and progress against our targets. Reporting boundaries. Data methodologies, scope, definitions and restatements. GRI, SASB and TCFD index tables identifying where to find disclosures that align with each framework. Details of Group policies. Other business information. Our ESG ratings Our business is also evaluated and rated by key environmental, social and governance (ESG) ratings agencies on our sustainability performance and risk management. MSCI Using publicly available information, MSCI ESG Research provides MSCI ESG Ratings on global public and private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers. At our last update in June 2024, SSP Group plc maintained an MSCI ESG Rating of A 2 . Morningstar Sustainalytics Using publicly available information, Sustainalytics measures a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. ESG Risk Ratings range from 0 (negligible) to 40+ (severe); ESG Risk Management Ratings range from 0 (weak) to 100 (strong). At our last update in March 2024, SSP Group plc received an ESG Risk Rating of 24.0, and was assessed by Morningstar Sustainalytics to be at medium risk of experiencing material financial impacts from ESG factors. We received an overall ESG Risk Management Rating of 50.7 (strong). See our website for ESG Ratings updates throughout the year. Task Force on Climate-related Financial Disclosures (TCFD) Established by the Financial Stability Board, the TCFD is a reporting framework based on a set of consistent disclosure recommendations for use by companies as a means of providing transparency about their climate-related risk exposure. Read our TCFD statement in our 2024 Annual Report on pages 64-71. Find our GRI and SASB indices in our Sustainability Data Book. Our reporting boundaries cover all SSP markets, as defined in our Sustainability Data Book, unless otherwise stated. This includes SSP Group plc and its subsidiaries (together referred to as the Group), as well as associate companies in which the Group has a long-term equity interest and over which it has the power to exercise significant influence. MSCI disclaimer: The use by SSP Group plc of any MSCI ESG Research LLC or its affiliates ('MSCI') data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of SSP Group plc by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI. Image produced by MSCI ESG Research as of July 2023. Navigating throughout this report This report is interactive. Click on the section you would like to go to through the top navigation. Additionally, the tools icons below can also be used to move throughout our report or to find further information throughout our website or Sustainability Report. Visit our website Find additional for further information on information other pages within this report 4 SSP Group plc Sustainability Report 2024 Introduction Our strategic approach Sustainability in our markets Product Planet People Governance 2024 at a glance Find all our targets, KPIs, annual performance data, reporting boundaries, data scope and definitions in our Sustainability Data Book Product 35% of meals offered by our own brands are plant-based or vegetarian 2025 target: >30% 80 % of hot beverages for our own brands are from sources certified against independent standards, such as Rainforest Alliance 2025 target: 100% 61% of eggs for our own brands come from cage-free sources 2025 target: 100% Planet 5% reduction in absolute Scope 1 and 2 greenhouse gas (GHG) emissions, from our 2019 base year 2032 target: 60% | 2040 target: 90% 97% of packaging for our own brands is reusable, recyclable or compostable, and 95% is free of unnecessary single-use plastic 2025 target: 100% c.1,500 tonnes of food waste was diverted from landfill through redistribution, recycling and composting schemes People 39% female representation in senior leadership roles 2025 target: 40% 66% of contracted suppliers with higher human rights risks have undergone due diligence reviews 2025 target: 100% £1.15 million invested in community programmes to help alleviate food poverty and support local charitable causes 5 SSP Group plc Sustainability Report 2024 A message from our Group CEO Introduction Our strategic approach Sustainability in our markets Product Planet People Governance "Having spent the time growing our business and enhancing our capabilities, our focus now is on optimising our performance and ensuring sustainable, long-term growth. This means creating shared value and delivering positive impacts for all ourstakeholders." I'm excited to share details in this report of where we are on our sustainability journey and what lies ahead. As I mark my third year as Group CEO, it's incredible to reflect on how much SSP has transformed over that time. We've recovered following Covid-19 and become a stronger business with significant growth and momentum. The shape of our business has changed, having invested significantly to grow a much larger presence in North America, Asia Pacific and the Middle East. We've also strengthened our capabilities to drive competitive advantage, mainly by improving our customer offer, maximising digital solutions, engaging our people, and embedding sustainability across our business practices. This has helped attract new business, deliver operational efficiencies and increase our like-for-like sales. Having spent the time growing our business and enhancing our capabilities, our focus now is on optimising our performance and ensuring sustainable, long-term growth. This means creating shared value and delivering positive impacts for all our stakeholders. I truly believe that sustainable practices are key to our resilience and growth, helping us navigate future challenges and seize new opportunities. Delivering impact This year has been a busy one for our sustainability agenda. We've continued to drive progress against our targets, started work on our new double materiality assessment, and have been preparing for the EU's new deforestation regulation. Our sustainability efforts are not confined to a singl