Valneva: Valneva : 2024 Sustainability Statement

Sustainability Statement 3.1 Executive Officer 3.5.1 3.5.2 3.2 Glossary 5 3.5.3 3.6 3.3 ESRS 2 - About this Report 5 3.6.1 3.3.1 Basis for preparation of this Sustainability Statement 7 3.7 3.3.2 Governance at Valneva 10 3.3.3 Valneva's strategy and business model 16 3.3.4 Materiality assessment process 46 3.4 Environmental information 57 3.4.1 ESRS E1 - Climate Change 57 3.4.2 ESRS E2 - Pollution 68 3.4.3 ESRS E3 - Water and marine resources 74 3.4.4 ESRS E4 - Biodiversity and ecosystems 75 3.4.5 ESRS E5 - Resource use and circular economy 76 3.4.6 EU Taxonomy Disclosure 80 Message from the Chief 3 3.5 4 Social information 92 ESRS S1 - Own workforce 92 ESRS S3 - Affected Communities 101 ESRS S4 - Consumers and end-users 102 Governance information 114 ESRS G1 - Governance, risk management, and internal control 115 Report on the certification of sustainability information and verification of the disclosure requirements under Article 8 of Regulation (EU) 2020/852 122 Translated excerpt from the Company's 2024 Universal Registration Document This excerpt is a free translation, into English, of Section 3 of the Company's 2024 Universal Registration Document. The Company's 2024 Universal Registration Document is available in its entirety in the French language at the following address: https://valneva.com/ investors/financial-reports/ . In case of discrepancy between the French and the English version, the French version shall prevail. CSRD Disclaimer and Explanatory Note CSRD Disclaimer and Explanatory Note Valneva's ability to achieve its objectives and plans in any specified time frame or at all, including with respect to ESG and sustainability matters, is subject to other conditions and considerations, both within and outside the Group's control, that may affect its ability to meet such objectives and plans, and/or put in place the initiatives required to meet them. These include but are not limited to the risk factors described in Section 1.5 "Risk factors" of the Company's 2024 Universal Registration Document ( URD ). In addition, historical, current, and forward-looking environmental and other ESG or sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future laws and rule making.The Group plans to continue to evaluate its objectives and plans and its approach to them and may make adjustments deemed necessary in light of such considerations. This Sustainability Statement has been prepared pursuant to the CSRD regime as implemented in French law. Forward-looking and other statements regarding environmental and other sustainability efforts and aspirations are not intended to communicate any material investment information under the laws of the United States or other applicable jurisdictions. This document uses certain terms, including such terms under the Science Based Targets Initiative (SBTi), EU Taxonomy Regulation, the United Nations Guiding Principles on Business and Human Rights, the Organization for Economic Co-operation and Development Guidelines for Multinational Enterprises, the International Bill of Human Rights, the International Labor Organization, the Assessing Low-Carbon Transition (ACT) Initiative, the EU Eco design for Sustainable Products Regulation , and the CSRD rules (including as implemented in French law), regimes, or requirements that may be referred to as "material" for those purposes, to reflect specific impacts, risks or opportunities or other matters identified as "material" to Valneva or its stakeholders according to such rules, regimes, or requirements, and in accordance therewith. However, the terms "material," "materially," and "materiality" in this document are distinct from, and should not be confused with, such terms as defined by or construed in accordance with securities or other laws, including the laws of the United States, or as used in the context of financial statements and reporting required by relevant laws and regulations. In particular, these terms are determined for purposes of the CSRD in accordance with a double materiality assessment, which applies a specific standard and regime pursuant to the CSRD that is separate and distinct from notions of materiality under securities laws, including the securities laws of the United States. The term "materiality" in this document is to be construed pursuant to the CSRD, the European Sustainability Reporting Standards (ESRS) contained in Commission Delegated Regulation (EU) 2023/2772 dated July 31, 2023, and other guidance published by the European Commission, the European Financial Reporting Advisory Group (EFRAG) and/or other European and member state bodies, regulators and/or standard setters. Message from the Chief Executive Officer 3.1 Message from the Chief Executive Officer Dear Valneva Stakeholders, As we close another impactful year for our ESG agenda, I am pleased to present Valneva's 2024 Sustainability Report. This report reflects not only our accomplishments but also the path we are charting toward a more sustainable future. It demonstrates our commitment to integrating sustainability throughout our operations, while remaining true to our mission of developing, manufacturing, and commercializing prophylactic vaccines for infectious diseases addressing unmet medical needs. We are proud to share this year's report, which is aligned with the ambitious standards of the European Corporate Sustainability Reporting Directive (CSRD), and reinforces how Valneva aligns its practices with the 10 Principles of the UN Global Compact, of which we are an active participant. These principles guide our actions and decision-making, ensuring that we operate ethically and responsibly across all dimensions of our business. Over the past 12 months, we have advanced our Company's sustainability ambition. Among our key achievements, we successfully entered in a new partnership with Serum Institute of India, which paves the way for access in Asia to our chikungunya vaccine. This is particularly notable as India is currently enduring one of its worst chikungunya outbreaks. The agreement reinforces Valneva's commitment to support universal access by enabling local manufacturing and local access via technology transfers. Furthermore, we successfully completed and published the assessment of our complete emissions inventory, marking a significant milestone in our journey to reduce our environmental impact. We also joined the Assessing Low-Carbon Transition (ACT) Initiative, which will help us establish a clear, detailed trajectory for meeting our decarbonization targets. Additionally, we launched the EcoVadis program to assess and monitor the environmental, social, and governance (ESG) risks within our supply chain, ensuring that our partners share in our commitment to sustainability. Finally, in 2024, we introduced a dedicated ESG training program for all employees and provided specialized training for our Executive Committee on different sustainability topics. We also successfully integrated ESG risks into our enterprise risk management system, conducting our first Double Materiality Assessment, which helped us better understand the broader impact of our business on both society and the environment. Looking to the future, we defined our ESG strategy around three fundamental pillars for sustainability: Protecting Lives, Reaching People, and Preserving the Planet. Each pillar is based on key objectives that will continue to drive our sustainability developments. Some of our upcoming efforts include: • by 2026, we will enable access to Valneva's single-shot chikungunya vaccine in Brazil and India by enabling local manufacturing and local access via technology transfers; • by 2026, we will discontinue the use of animals for routine monitoring for contaminating pathogens in our animal facility and implement in-vitro testing with similar sensitivity of detection. In the same period, we also will define criteria related to animal welfare for the selection and monitoring of GxP and R&D suppliers involved in external in vivo testing; • by 2026, we will assess 100% of key suppliers in EcoVadis and share our Business Partners Code of Conduct with 100% of our direct suppliers; • by 2026, we will define a Sustainable Procurement Policy including environmentally-friendly criteria for selecting and contracting with suppliers; • by 2026, we will include language about Valneva's approach to diversity and inclusion in all of our job postings; • by 2030, we will reduce our Scope 1 and 2 (1) CO 2 emissions by 50%. We are committed to improving in environmental, social, and governance topics. We know there is still much to be done, but with continued dedication, collaboration, and transparency, we are confident that we will make meaningful progress on this journey. I would like to thank the many Valneva employees and all our stakeholders who have contributed to these ESG endeavors. Your collaboration, support, and commitment to our shared goals are vital to our success. Together, we will continue to lead with purpose and innovation, ensuring a better, more sustainable future for all and helping deliver our vision to contribute to a world where no one dies or suffers from a vaccine preventable disease. Sincerely, Thomas Lingelbach CEO, Valneva SE (1) The definition of Scope 1 and Scope 2 is available at: GHG Protocol, " A corporate accounting and reporting standard ", 2004. ESRS 2 - About this Report 3.2 Glossary CSRD: Corporate Sustainability Reporting Directive DMA: Double Materiality Assessment EOHS: Environmental, Occupational Health and Safety ESRS: European Sustainability Reporting Standards GHG: Greenhouse gas GRI: Global Reporting Initiative HCO: Healthcare organizations HCP: Healthcare professionals IRO: Impact, Risk and Opportunity I/S: Industry-specific LMIC: Low- and