2023 Puratos Sustainability Report

Sustainability Report 2023
Better
Planet
Better
Life
Better
Health
Puratos is an international group, which offers a full range of
innovative food ingredients and services for the bakery,
patisserie and chocolate sectors. We serve artisans,
retailers, industrial and food service companies in over 100
countries around the world.
Our headquarters are located in Belgium, where the

company was founded in 1919. At Puratos, we believe that
food has extraordinary power in our lives. We do not take
such a responsibility lightly. This is why we aim to help
customers be successful with their business, by turning
technologies and experiences gathered from food cultures
around the world into new opportunities.
Together, we move the planet forward by creating

innovative food solutions for the health and well-being of
people everywhere.
Contents
Introduction 1 Better Health 14 Good Governance 56
Letter from the CEO 1 Health & Well-Being 15 Puratos's Governance Structure 57
About Us 2 Food safety and quality of our products 18 Sustainability Governance 58
Financial and non-financial highlights 4 Group Structure 59
Better Planet 20 Business ethics and Code of Conduct 60
Puratos’s Sustainability Environment 21
Human Rights 60
Approach6 Responsible Sourcing 31
Whistleblowing and complaints 60
Data protection 60
Our commitments to You
and to Future Generations 7
Better Life 38
Supporting our strategy across Appendix62
the whole organisation 8 People 39
About this report 63
Materiality Assessment summary 9 Heritage47
Materiality assessment details 64
Our results in 2023 10 Communities 50
Stakeholder engagement 66
Environmental Data Summary 68
Mission to Mars 54 Assurance statement 76
GRI Content Index 82
Key performance indicators 84
Our reporting suite:
Cacao-Trace & Next Generation


Cacao Foundation Annual Report 2023
 The Bakery School Foundation Annual Report 2023
Read more at www.puratos.com

Sustainability Good
Introduction Approach Better Health Better Planet Better Life Governance Appendix
Letter from the CEO GRI 2-22
Food
Innovation
for Good
"We move the planet forward by
creating innovative food solutions for
the health and well-being of people
everywhere.” Our purpose fully
embodies the Puratos way of doing
business, ensuring Puratos remains
steadfast at the forefront of positive
change."
This past year remained challenging for our employees. We opened two new 84,000 m² spread across 28 countries
our global community, as we faced Bakery Schools, in El Salvador and – equivalent to 12 football fields. These
geo-political instability, inflation and Vietnam. Additionally, we paid a record efforts underscore our commitment to
challenges with our raw materials. chocolate bonus of €2.4m to farming achieving carbon neutrality at the group
Regardless, together, we persevered in communities as part of our Cacao-Trace level by 2025.
meticulously crafting solutions with program. In doing so, we improved the
success in mind, making our products lives of our cocoa farmers, and educated We are proud to say that our hard work
delicious but also healthier and more hundreds of students to become great paid off. We strived to service our
sustainable. bakers, pâtissiers and chocolatiers. customers optimally throughout the year,
helping them to thrive in their business.
Our employees continued to We also took further steps to optimize our
demonstrate an extraordinary resilience factories and use our resources more Consequently, we were able to increase
in the face of market conditions, and we proficiently, by investing in energy our turnover, and passed the €3.0 billion
are grateful for their unwavering efficiency initiatives such as the sales mark, an impressive achievement.
commitment and passion, that have implementation of new technologies,
been the driving forces behind our energy recovery systems, and utility We look forward to 2024 as an exciting
remarkable achievements in 2023. optimization measures within our year where we continue to drive
factories. Notably, this year marked a innovation, collaborate with our partners,
We also remained committed to our goal milestone as we inaugurated the group’s and contribute to a healthier and more
of creating food innovation for good. We first biomass boiler, utilizing olive pomace sustainable future for people and the
developed products that promote health to produce biomass pellets. This planet. In the year ahead, we will strive
and well-being, and we continued to innovative approach not only minimizes to foster a collaborative spirit within the
invest in sustainable solutions to reduce waste but also provides a reliable energy food industry to reduce environmental
our water consumption and CO2 source for our operations. impact, promote sustainable practices,
emissions. It inspired us to reassess our and ensure that food production plays a
choices by embracing new practices, Moreover, in 2023, we achieved a vital role in shaping a better and
using resources more carefully, reducing significant milestone by successfully healthier planet for generations to come.
and sorting our waste, and actively sourcing 100% of our electricity from
engaging with our suppliers to reduce renewable sources. Among other We thank you for your continued support
our impact on the planet. initiatives, we expanded our solar panel and trust in Puratos.
infrastructure by an additional 27,000 m²
Throughout the year, we continued to across various global sites, resulting in a Pierre Tossut
invest in the growth and development of total on-site solar panel coverage of CEO Puratos Group
Puratos Sustainability Report 2023 1

About Us
Who we are Our Purpose Our Mission

What started as a father and son operation more
We move the planet We help customers be
than 100 years ago has evolved into a successful forward by creating successful with their business,
international business, and Puratos now offers a full innovative food solutions by turning technologies and
range of cutting-edge services and ingredients to for the health and experiences from food
customers in the bakery, patisserie, and chocolate well-being of people cultures around the world into
industries. everywhere. new opportunities. Together,
we improve the lives of
people and protect the
planet.
Our Values
Vision Courage Passion Collaboration Integrity Quality

defines our future is about acting is what inspires us. is how we choose is our moral is the standard by
by building on our with confidence Passion for bread, to win. Great things compass. Guided which we measure
present. It links our and optimism patisserie and happen when our by moral and all our actions. It’s
strategy with our when facing chocolate; passion teams work closely ethical principles, our ambition to get
purpose, paving adversity. It pushes for our people, our together, we treat people them right the first
the way for our us to explore new culture, our combining their with respect, with time, and always
teams to execute solutions, innovate, customers, our diverse our values always strive to learn and
with excellence. and continuously communities, the backgrounds, defining our improve. Quality is
Vision allows us to improve. Courage planet, and our experiences, and actions. We have everyone’s
dream big, tackle enables us to take results. Passion strength. zero-tolerance for responsibility, as
and overcome calculated risks in gives us a higher unethical behavior. we push for the
obstacles, and set the pursuit of our sense of purpose, highest standards
new ambitions. vision. enabling us to think and continuously
long-term while improve the ways
delivering short- we operate.
term results.
Passion pushes us
to accomplish
what initially
seemed
impossible, to
delight our
customers.
2 Puratos Sustainability Report 2023

Sustainability Good
GRI 2-1 GRI 2-6 GRI 2-7
We offer a full range of innovative food solutions

for the bakery, patisserie and chocolate sectors.
Products are available 129 subsidiaries 75 production units Innovation centers

in 135 countries in 84 countries in 52 countries around the world
135 129 75 119
Founded in Employees R&D researchers & technical Revenue invested

advisors in R&D
1919 10,753 1,252 2.2%

Financial and non-financial highlights
Key financial highlights
Net Sales EBITDA
€3.1bn €358.5m
€ 3.1b € 358.5m
€ 2.78b
€ 311.1m
€ 2.17b € 250.5m
2021 2022 2023 2021 2022 2023
Investments
€161.5m
€ 161.5m
€ 140.3m
€ 99.5m
2021 2022 2023

Sustainability Good
GRI 2-6
Key non-financial highlights

Better Health Better Planet Better Life
% Sales share from health and well-being Reduction in scope 1 and 2 Chocolate Bonus distributed
range CO2 emissions1 through Cacao-Trace
32% -43% €2.4m

€ 2,489,324
32%
27.3% 28.5% € 2,003,384
€ 1,010,608
-30%
-35%
-43%
2021 2022 2023 2021 2022 2023 2021 2022 2023
100% sourcing renewable electricity Students enrolled in the

Bakery School program
100% 515
100% 515
88% 450
79%
283
2021 2022 2023 2021 2022 2023
1 Compared with 2016, base year.

Puratos’s
Sustainability
Approach
At Puratos, we are deeply committed to prioritize consumer health and well-

being, and contribe to a collective effort
creating a positive impact on both society in reducing our environmental impact.
and the environment. We are dedicated Our sustainability strategy is translated

into three pillars: Better health, Better
to safeguarding the future for forthcoming planet, and Better life. For each pillar,
we've outlined long-term goals and
generations. break them down into yearly
intermediate milestones to track our
Our sustainability approach is not just a around the world, and investing in progress. This way, we can balance the
set of goals and objectives; it is ingrained life-changing, educational opportunities vision for the future with the reality of the
in everything we do. We see it as our through our Bakery Schools initiative. market in a specific moment.
commitments to you and to future
generations, and we hold ourselves To reduce our environmental impact, we We are proud of the progress we have
accountable for the progress we make have implemented a comprehensive made towards achieving our
towards achieving our sustainability sustainability program that includes sustainability goals, while recognizing
goals. Our sustainability approach is reducing our greenhouse gas emissions, that there is still much ground to cover.
centered around a holistic operating improving our water management, and Notably, in 2023, we reached our goal of
model that is sustainable, respectful, and reducing waste. sourcing 100% renewably energy.
balanced. Additionally, our commitment to
Preserving the traditional methods that education is evident as 98 students
We believe that people are at the heart have made bread, cakes, and chocolate graduated from our Bakery Schools
of everything we do, and we are so beloved, while responsibly sourcing worldwide, with an additional 515
dedicated to creating a caring working raw materials, is at the heart of our students enrolled in the program. We are
environment that welcomes diversity and sustainability approach. Through close committed to working towards a
promotes personal development. collaboration with suppliers, we ensure sustainable future for all, and we will
ethical sourcing practices. Moreover, our continue to innovate and invest in
We work in harmony with the commitment extends to developing sustainable solutions to minimize our
communities we are a part of, ensuring innovative products that empower our negative impact on the environment
safe and stable revenue for farmers customers to create offerings that and society.
“At Puratos, everyone is dedicated to sustainability. I conditions forced us to progress at a lower speed
am extremely proud to be surrounded by colleagues than we'd wish for in some areas, we are convinced
each doing their part to improve the food ecosystem that we are on the right track. Therefore, we'll
through all the projects and partnerships we set up. continue raising the bar in 2024 and beyond,
The food sector can be a catalyst in solving some of activating and engaging the whole value chain in
the challenges we face on climate, but also on the journeys.”
social justice. In 2023, we kept our focus on these
long-term objectives, and we are glad to share what Francesca Angiulli
we have achieved. Even though the complex market Group Sustainability Director

Sustainability Good
GRI 2-25 GRI 3-3
Our Commitments to You and to Future Generations

We acknowledge our social and environmental responsibility across our entire value chain
— from sourcing raw materials to the consumption of products featuring our ingredients by
end consumers. And, as a responsible food company, we believe it’s important to deliver a
substantial social contribution in all the communites where we operate.
Better Health
We aim to improve the Health
and Well-Being of consumers
without compromising on taste,
quality or safety.
Read more on Page 14
Healt
es h&
niti We
mu ll-
om Be
Better Life C in
g
Innovation with tradition and
people are in the center of
Res
everything we do. Whether it

ponsib Sourcing
is our colleagues, or the

People
communities we operate in,

we make it our priority.
le
He en
Better Planet
t
rit a m
ge i ro n Our commitments and actions
Env support our responsibility
towards our planet, more
specifically where and how we
source our raw materials, how
we operate and bring our
products to our customers.
Puratos SDGs
Puratos engages in the UN Global
Compact, a voluntary initiative for
businesses to adopt sustainable and
socially responsible practices, aligned
with universal principles, thereby
contributing to global Sustainable
Development Goals. We are committed
to integrating these principles throughout
the Group.

Puratos’s Sustainability Approach continued GRI 2-24 GRI 2-25
Supporting our strategy across the whole organization

Our sustainability strategy, vision and objectives are defined at Group level, under the
leadership of our Board of Directors and Group Executive Committee. Our Future
Generations SteerCo reports directly to the Chief Financial & Sustainability Officer. The
SteerCo meets six times a year to share progress on meeting targets, explore
opportunities to drive further progress, discuss new projects, ideas and innovations and
update our materiality assessment. Our CSR Committee also ensures we are aligned on
our commitments and future developments across the Group.
Our objective is that everyone who works with Puratos recognizes the importance of sustainability. You can see how we embed
sustainability throughout our business below.
GRI 2-1 GRI 2-1
Create
Guidelines How we act
awareness
Inform all employees about

Set up clear sustainability Incorporate sustainability
different sustainability topics
guidelines and procedures. in work and daily life.
by offering training sessions.
Embed sustainability into business

and decision-making processes.

Sustainability Good
GRI 3-1
Materiality Assessment Summary

Our materiality assessment allows us to identify the issues that matter most to our
business and to our stakeholders. To better support our strategic decision making,
potential social, ethical, environmental, and economic concerns are identified and
evaluated to determine associated risks and opportunities for Puratos’s reputation,
revenues, and costs.
By studying and analyzing the wider context of Puratos’s operations, we identified 17 material topics affecting consumers,
customers, suppliers, communities, investors and other stakeholders in the countries where we operate and source.
Each topic is assigned a level of priority, based on surveys and interviews with respondents representing our different
stakeholder groups: communities and societies, customers and consumers, employees, government, shareholders and
investors, suppliers and NGOs.
In 2024, we plan to conduct a double materiality assessment, following the requirements of the new European Corporate
Sustainability Reporting Directive (CSRD). By evaluating both our impact on the environment, society, and economy, and how
sustainability issues may affect our business performance, we ensure our efforts are aligned with stakeholder expectations
and integrated into our business strategy. Through this process, we aim to identify key areas for sustainable development and
enhance our organization's resilience in an ever-changing world.
You can find more details on our approach to materiality on Page 64
Topic
4 Greenhouse gas emissions
10 Healthy, natural and nutritious 4

products
8 Environmentally-friendly products 10
Influence on stakeholder assessments & decisions
and sustainable ingredients

8
7 Transparent and responsible
sourcing
6 Sustainable and circular

packaging 7
9
1 Responsible and ethical business 6
conduct
15 1
9 Food quality and safety
14
3 Food waste
15 Employee health, safety and

well-being
5
11
14 Employee diversity, inclusion and 17 3
equal opportunities
13
12
5 Water stewardship
16
17 Community engagement and 2
development
11 Healthy, natural and nutritious

diet awareness
Significance of Puratos’s economic, environmental & social impacts
12 Thought leadership and
preservation of food culture
Very high materiality
13 Products and ingredients High materiality
resilience
Medium materiality
2 Non-food waste Low materiality
16 Employee learning and
development

Puratos’s Sustainability Approach continued
Our results in 2023

Following a comprehensive materiality analysis updated in 2021, we have determined
our principal sustainability challenges. From these findings, we have formulated a set of
commitments structured around three pillars namely Better Planet, Better Health and
Better Life, which make up our Sustainability Approach.
Better Health Our commitments
• Increase the presence of wholesome ingredients in our products

• Reduce sugar, salt, and fat in our products
• Increase clean(er) label, organic, gluten-free, and plant-based solutions
[Material Issue 10 : Healthy, natural and nutritious products]
Better Planet Our commitments
Environment • Carbon Neutral in our operations.
[Material Issue 4 : Greenhouse gas emissions]
• Responsible management of our water resources.
[Material Issue 5 : water stewardship]
• Waste management in our operations and circular economy.
[Material Issue 3 : Food waste]

[Material Issue 6 : Sustainable and circular packaging]
Responsible Sourcing • Our commitments to sustainable palm oil,cocoa, fruit supply and eggs
[Material Issue 7 : Transparent and responsible sourcing]

[Material Issue 8 : Environmentally friendly products & sustainable ingredients]

Sustainability Good
GRI 2-25 GRI 2-28
As a member of the UN Global Compact, Puratos is dedicated to integrating its principles across the Group. These commitments
also serve to advance the Sustainable Development Goals (SDGs) outlined by the United Nations. We actively cultivate
awareness among our employees, suppliers, and customers, ensuring that every facet of our supply chain contributes to the
attainment of the SDGs.
Each commitment is underpinned by tangible targets to be achieved by either 2025 or 2030.
Our long-term objectives To be achieved by Our 2023 results
Reach 50% of the Group’s sales. 2030 32% of Puratos's sales came from the
Health & Well-Being range of products.
43% reduction in our Scope 1 and 2 CO 2

emissions
Make our direct operations carbon- compared with 2016 (base year).
2025
neutral (emissions Intensity Index). 3 new sites became CO 2
Neutral certified.
6 got renewed this year.
Source 100% renewable electricity. 2023 100% of the electricity used by the Group
comes from renewable sources.
Become water-balanced - Reduce fresh Water consumption is reduced by 10.7%

2030
water usage (water intensity index). per ton produced, compared with 2016 (base year)
100% of our outbound packaging will be

2025
92% of our outbound packaging
fully recyclable or reusable. are fully recyclable or reusable
Zero waste to landfill in 12 top countries. 2025

3 sites successfully transitioned
from landfill disposal to alternative treatment methods.
Zero waste to landfill worldwide. 2030
100% of our palm oil supports Sustainable Palm Oil

All palm oil purchased by the Puratos
production, with 36% of total palm oil purchased
Group will be RSPO-certified under the 2025
Mass Balance supply chain model. by the Group under RSPO mass balance
or segregated certification.
All chocolate produced and sold by

2025
66.5% of cocoa ingredients
Belcolade will be sustainable. sourced by Belcolade is sustainable.
20% of our cocoa ingredient sourcing will

2025
25.5% of total volume sourced by the Group
be through our Cacao-Trace Program. is through our Cacao-Trace Program.
At least 15% of fruits will be sourced

2025
13.9% of fruit sourced is through our
through our Field to Fork Program Field to Fork Program.
100% of eggs and egg products used by

Puratos Group will come from alternative 2025 30% of eggs sourced
breeding to cages. came from alternatives to breeding cages.
1,3 million trees will be planted in our

2025
679,854 trees planted between 2019
direct value chain. and 2023, of which 324,478 in 2023.

Puratos’s Sustainability Approach continued
Our results in 2023
Better Life Our commitments
• Perpetuate our Puratos Magic - our values and working principles

• Empower our team for extraordinary outcomes and full potential,
backed by robust training initiatives
• Cultivate a Culture of Care, making our commitment to employee health
and well-being a living reality across our global workforce every day
• Achieve a diverse, equitable and inclusive workplace and culture
• Accelerate diverse representation at all levels of the organization
• Ensure fair and ethical compensation, transparent pay practices, and inclusive
total rewards
[Material Issue 14 : Employee diversity, inclusion and equal opportunities]

[Material Issue 15 : Employee health, safety and well-being]
Heritage • Preserve the traditions and biodiversity of sourdough
Community Participate in the local development of communities we operate in:

• The Next Generation Cacao Foundation
• The Bakery Schools Foundation
[Material Issue 17 : Community engagement and development]

Sustainability Good
Ensure 100% of employees continue to

receive regular performance and career Every year 100% of our employees receive regular
development reviews. performance and career development reviews.
a Lost Time Incident Rate (LTIR)* of 0.76,

Achieve zero work-related injuries to
Every year marking a 13% increase
Puratos employees and stakeholders.
from the previous year's rate of 0.67
Register 5,000 sourdoughs in our digital

≈ 3,000 sourdoughs
library.
2025 in our digital library
on the Quest For Sourdough.
a total ChocolateBonus
Increase the Chocolate Bonus collection
every year, to reach €8m in 2030.
2030 of €2.4m collected
for our Cacao-Trace farmers.
Have 1,000 students from the Bakery

2030
515 students
Schools on a permanent basis. were enrolled in the program.
*LTIR is the industry-standard metric used to measure the number of

Incidents with lost time per 100 FTEs.

Better
Health
Health & Well-Being
Health & Safety and Quality

Well-Being of products
32%
In 2023, 32% of Puratos's sales came from Health
99.3%
Puratos products are produced in
and Well-Being solutions. Puratos facilities certified by one
of the GFSI-acknowledged standards.
Read more on Page 15 Read more on Page 18

Sustainability Good
GRI 2-25 GRI 3-3
Health & Well-Being
At Puratos, we see our role as more than just supplying

ingredients. We explore the changing world of nutrition,
find innovative solutions, and help our customers thrive.
Together, we're on a journey to a healthier future where
every choice matters, and enjoying food is always a
priority.
In our fast-changing world, everyone wants healthier and accessible options and
sustainable food practices.
We firmly believe that pleasure and balance are inseparable, especially in food. With
science on our side and a strong capacity to innovate, we are dedicated to creating
products that contribute to a healthy and balanced diet that brings joy and
satisfaction. To support and implement this vision, we are committed to providing
products and solutions with the best nutritional value possible, without compromising
on taste, quality or safety. We systematically optimize the nutritional value of all our
product ranges, in line with the nutritional guidelines of the World Health
Organization.
More than ever before, consumers understand that

the first wealth is health. Each bite is an opportunity to
improve people’s health and well-being. Every day,
our ingredients are used in products that feed
hundreds of millions of people globally. At Puratos, we
are committed to creating solutions that are safe,
tasty, and affordable, without compromising on
quality. It's our responsibility to make these choices
accessible, helping people live better lives.
Dr. Sara De Pelsmaeker
Group Health & Well-Being Director

Better Health continued
Our long-term objectives Key Performance Indicators
By 2030, we aim for health and well-being products to represent 50% of Puratos
sales. In 2023, 32% of Puratos's sales came
from Health and Well-Being solutions.
32%
This means indirectly meeting consumer needs for healthier diets and lifestyles by
offering our customers a wide range of health and well-being solutions. This can
be achieved by:
• Further increasing the amount of wholesome ingredients, such as fiber-rich

grains, nuts, seeds and fruit, in our products.
• Further decreasing the amount of sugar, salt, and fat we include in our
products.
• Increasing the amount of clean(er) label, organic, gluten-free, and plant-

based solutions.
Grains & Seeds Sugar Fat

We commit to increasing the quantity of We help to lower sugar consumption To further improve the nutritional profile
cereals, grains and seeds in our products, through a complete range of sugar- of our products, we aim to remove or
helping consumers around the world reduced patisserie and chocolate reduce fats, especially those of low
bridge the fiber gap and reach their innovations, without any compromise on nutritional quality. Thanks to our
recommended daily fiber intake defined taste or texture. In 2023, we were able to innovations, in 2023 we decreased 15,759
by the World Health Organization (WHO). reduce 1,485 tons of sugar present in our tons of fat present in our solutions, which
In 2023, we further increased the quantity products, i.e. a 2% improvement represents a 26% improvement
of cereals, grains and seeds present in compared with 2022. compared with 2022.
our products by 16% compared with
2022. Salt
We offer solutions to reduce the salt
Fruits content in baked goods, thereby helping
We strive to increase the fruit content in consumers abide by the 5g of salt/day as
our fruit fillings, as fruit filling is a part of the World Health Organization
natural and creative way to reduce recommendation. In 2023 we successfully
added sugar, fat, and calories per 100g removed 86 tons of salt present in our
of product. In 2023, we further increased products, i.e. a 2% improvement
the quantity of fruits used in our products compared with 2022.
by 40% compared with 2022.

Sustainability Good
Some examples
Topfill Finest- more fruit, less of the rest

Topfil Finest is the newest generation of fruit
fillings that are providing the sensation of
enjoying freshly picked fruit and have full
clean label status. They have an authentic
and natural taste and maintain the natural
elements of the fruits in terms of color,
texture and flavor.
Cremfil Ultim, less fat, less sugar, clean(er) label

Cremfil Ultim is an irresistible range of nut
and chocolate fillings. Choosing Cremfil
Ultim over a fat-based filling in soft baked
goods can significantly improve their
nutritional profile, as these fillings have up
to 55% less fat content and up to 37% less
sugar content. It offers an unmatched
combination of great taste, fat and sugar
reduction, and even a clean(er) label
option.
Puravita, best-in-class healthy bread with whole grains

With our Puravita range, we offer a
convenient way of creating diverse
great-tasting baked goods packed with the
health benefits of whole grains and seeds.
Puravita breads help consumers reach the
recommended levels of dietary fiber and
some of them can even contribute to a
healthy gut. Whole grains also keep people
feeling full longer, helping with weight
control. Moreover, Puravita breads naturally
contain vitamins and minerals that could
also bring additional health benefits.
Mimetic, plant-based speciality fat

Mimetic is our plant-based specialty fat that
provides outstanding buttery sensation in
laminated pastry and sweet bakery baked
goods and up to 3 times better for the
environment, compared with dairy butter1,
due to a better performance in CO2 and
methane emissions, land use per kilogram of
products and water usage. A croissant that is
made with Mimetic contains less saturated
and trans fatty acids and cholesterol
compared with a butter croissant.
1 - Based on a Product Environmental Footprint (PEF) methodology, standardized framework used to assess and quantlify the environmental impact of a product
throughout its entire lifecyle.

Better Health
continued

Sustainability Good
GRI 2-25 GRI 3-3
Health & Well-Being
Food safety and quality

of our products
With climate change impacting farming Food safety goes beyond a legal
practices and potentially intensifying
foodborne diseases, ensuring food safety
obligation for Puratos; it is an integral
aspect of our ethical approach to
Celebration of the
and quality is paramount. Recent business and a commitment to World Food Safety
incidents in the European Union have consistently provide our customers with
underscored the urgency for safe, high-quality products that adhere Day
policymakers to reevaluate food-safety to both global and customer standards. On June 7, 2023 we celebrated the
regulations, reflecting growing consumer We achieve this by taking a proactive World Food Safety Day by organizing
demand for more accountability from approach to food safety through robust a variety of activities such as
producers and regulators. food safety and quality programs, the roundtable discussions, interactive
use of AI to detect and predict potential games, informative videos, and
risks and continuously seeking for specialized training sessions, across
improvement opportunities. the world with our internal
stakeholders. These activities aim to
stress the critical importance of food
safety within our organization and
Our long-term objectives Key Performance Indicators beyond. Through these initiatives, we
strive to create a food safety culture
and understand safe food practices
• Ensuring 100% of Puratos facilities1 Puratos products are produced in while empowering our team
are certified according to one of Puratos facilities certified by one of members to contribute effectively to
the Global Food Safety Initiative the GFSI-acknowledged standards our food safety mission and help us
(GFSI2) standards, including (BRC, IFS, SQF, or FSSC22000).
99.3%
achieve our goal.
unannounced audits.
Our primary objective is to ensure the safety of food at every stage of the food chain
– from production to harvest, processing, storage, distribution, all the way to
consumption by consumers. To attain this goal, our quality and food safety programs
are centered around 5 key Quality pillars:
1. Supporting the development and improvement of reliable processes to reduce
customer complaints and exceed customer expectations. We use a Customer
Relationship Management (CRM) system as part of our endeavours to improve
customer relations continuously.
2. Supporting R&D on excellence in design while ensuring the safety of our products.
3. Sourcing and delivering the right quality of raw materials and ensuring full
traceability and regulatory compliance from raw materials to the finished goods.
4. Reducing food waste linked to Quality and Food Safety risks.
5. Creating awareness and taking actions, led by our Food Safety Committee.
As part of our continuous improvement program, we are implementing a cloud-

based application to consolidate and centralize the supplier data across Puratos. The
objective of the PuraQuality- Vendor Quality Management App is to increase the
efficiency in documents and certification management and engage the supplier in
a robust process, by addressing non-conformities and to define an action plan to
prevent Food Safety issues and comply with GFSI certifications and local regulations.
Every Day
Everywhere
1 - Excluding M&A
2 - The Global Food Safety Initiative (GFSI; the Coalition) is a Coalition of Action from The Consumer Goods Forum (CGF), bringing together 44 retailers and manufacturers
from across the CGF membership and an extended food safety community to oversee food safety standards for businesses and help provide access to safe food for
people everywhere.

Better
Planet
Environment Cocoa Sourcing Fruit Sourcing
100%
of our total electricity comes from
25.5%
of total volume sourced by the Group is
13.9%
of fruit sourcing through the
renewable sources. through Cacao-Trace Program. Field to Fork program.
Read more on Page 21 Read more on Page 31 Read more on Page 36

Sustainability Good
GRI 2-23 GRI 2-24

GRI 2-25 GRI 3-3
Environment
As responsible members of the global community, we acknowledge the severity of the

environmental crisis facing our planet and the pressing need for action. We are therefore
committed to doing our part and are actively contributing to environmental solutions.
In 2023, Puratos took a significant step in Carbon Neutral in our operations

its journey towards Carbon Neutrality by At each production site, areas of improvement are identified, and action plans are
sourcing 100% renewable electricity. Our implemented to reduce our energy consumption and our reliance on non-
objectives are to become carbon-neutral renewable energy sources, and thus to reduce our carbon impact.
by 2025 for Scope 1 and 2 emissions,
following the globally recognized To achieve carbon-neutrality in our operations, we work on three fronts at the same
Greenhouse Gas Protocol, and achieve time:
water balance by 2030 by guaranteeing 1. Reducing our carbon footprint
the responsible planning and 2. Sourcing 100% renewable electricity
management of our shared freshwater 3. Planting trees to remove carbon in our value chain
resources.
We aim to eliminate waste in our

operations and promote circular Our long-term objectives Key Performance Indicators
economy, reach zero waste to landfill in
our operations by 2030, and use 100%
reusable or recyclable packaging for our • By 2025, make our direct Puratos achieved a -8% reduction in
products by 2025. operations carbon-neutral. its Scope 1 and 2 CO2 emissions
compared with 2022, and a 43%
• By 2023, source 100% renewable reduction compared with 2016, the
electricity. base year.
-43%
100% of electricity used by the Group
comes from renewable sources in
2023.
Setting Science-based Emissions

100%
Reduction targets under the Science- 3 new sites became Carbon Neutral
(Belgium Belcolade, South Korea and
Based Targets initiative (SBTi). UK Buckingham).
In addition to our efforts to achieve carbon neutrality in our operations (Scope 1

and Scope 2), we are actively developing science-based emission reduction
3 sites
targets for our entire value chain (Scope 3). This will require close collaboration
across our entire value chain, involving farmers, suppliers and customers. By 324,478 trees were planted in 2023.
324,478
committing in the framework of SBTi, we aim to set ambitious climate goals
grounded in scientific evidence that are in line with the imperative of limiting
global warming to 1.5°C and mitigate the impacts of climate change.

Better Planet continued
Puratos’s carbon-neutral certifications

In 2023, three new sites obtained the CO2 Neutral certification: Belcolade (Belgium),
Buckingham (UK), and Seoul (South Korea). This recognition underscores our relentless
efforts to make our production facilities more sustainable. Notably, these sites have
completely eliminated the use of fossil fuels for production purposes in line with our
commitment to reducing carbon emissions. Additionally, all 6 previously obtained
CO2 Neutral certifications were successfully renewed, with plans to have at least three
new sites pursue CO2 Neutral certification in the coming year.
Inauguration of the Group’s first biomass Global recognition

boiler. for our
Sofadex-Puratos Moroccotook a significant step with the inauguration of the
contribution to
Group’s first biomass boiler on 27 September 2023. Carbon Neutrality.
By utilizing olive pomace, a readily available by-product of the olive oil industry,
In 2023, CO2 Logic, a renowned
and converting it into biomass pellets that can be efficiently burned in the newly
sustainability certification body,
inaugurated boiler, we tap into a resource that not only reduces waste, but also
awarded Puratos three new Bronze
provides a reliable energy source. To put this into perspective, the avoided
site certifications for Belcolade
emissions account for 1,100 tCO2e per year.
(Belgium), South Korea, Buckingham
(UK), thereby corroborating our
commitment to Carbon Neutrality.
CO2 Logic is recognized for its
expertise in evaluating and
validating carbon reduction efforts
of organizations worldwide.
Moreover, the sites certified by CO2
Logic undergo rigorous assessment
and verification processes
conducted by Vincotte, a leading
inspection company. The other
certified Puratos sites span across
diverse regions, including Thailand,
Brazil, Austria, the Philippines, and
Vietnam. Notably, our Vietnam site
has been honored with two
certifications: one for the company's
overall commitment to carbon-
neutrality and another for the 60
days Chocolanté product, earning
respectively a silver and a gold
rating.

Sustainability Good
Reducing our carbon footprint kgCO2 per ton produced

We are concentrating on reducing our
energy consumption and optimizing our 140 130 127
processes. We have invested €1.7m in 27
energy efficiency projects, including new 120 109
102 104
technologies, energy recovery, utility 100 91
optimization, process optimization, and 84
preventive maintenance. In 2023, we 80
74
achieved a 43% reduction in kgCO2 per
ton produced compared with 2016, the 60
-43%
base year, resulting in an economy of
40
scale of 28,200 ton of CO2 equivalent
(tCO2e). 20
We are proud of this achievement and 0

remain committed to continuously
improving our energy efficiency to 2016 2017 2018 2019 2020 2021 2022 2023
further reduce our carbon footprint.
Actual
Opening of the first carbon-neutral

Belgian chocolate factory
Belcolade is pioneering the path to sustainable chocolate with the opening of the
first carbon-neutral Belgian chocolate factory. Our new factory represents a
significant milestone in our journey toward sustainability. This state-of-the-art
facility operates fully on 100% renewable electricity, sources 90% of its water from
collected rainwater, and significantly reduces energy consumption thanks to the
use of heat pumps for heat recovery.

Sourcing 100% renewable electricity % of purchased renewable electricity

Our objective is to reduce our reliance
on non-renewable energy sources by 100 100%
producing on-site and transitioning 88%
towards renewable energy. We aim to 80 79%
produce as much as possible on our sites 70%
and for the rest, we purchase renewable 60%
60
electricity. In 2023, we reached our goal
of sourcing 100% of renewable electricity. 47%
40
Producing energy on-site via our solar
panels and wind turbine 20
In 2023, we implemented 27,000 m² of
0% 0%
solar panels across various global sites,
0
bringing our total on-site solar panel
coverage to 84,000m² of solar panels
2016 2017 2018 2019 2020 2021 2022 2023
across 28 countries, equivalent to 12
football fields. By 2025, we plan to add
solar panels to another 21 sites, an
equivalent of an additional 9 football
fields, and produce 16% of our electricity
needs on-site.
Our biggest installations are now running

in Andenne, Belgium (12,000 m²) and in
Sils, Spain (11,000 m²).They will generate
13% and 15% respectively of the
electricity needs of the sites. The rest is
purchased through renewable electricity
certificates.
In order to significantly increase our share

of renewable energy generated on site,
we installed in 2022 our first wind turbine
in Lummen. In 2023, it covered 45% of the
electricity needs of the site.
Purchasinge renewable electricity

In 2023, we achieved one of our main
targets: 100% of the electricity sourced by
the Group is now coming from
renewable sources. This was done
through renewable electricity certificates
but also through direct renewable
electricity contract with local suppliers.

Sustainability Good
by 2025
1.3 million
trees
TICUL, Mexico
Tabasco, Mexico Maragusan,
Dak Lak Philippines
San Pedro, & Dat Teh,
Ivory Coast Vietnam
San Martin, Peru Uganda East-Sepik,
Papua New
Guinea
Planting trees to remove carbon in our

value chain
While reducing our own emissions is our
primarly goal, we are also committed to
taking proactive steps to remove carbon
from the atmosphere. That is why we
have chosen to plant trees in our value
chain, particularly through Cacao-Trace,
our own sustainable cocoa sourcing
program. Since 2019, we’ve planted
679,854 trees and continue to prioritize
this approach. In 2023, we planted
another 324,478 trees reaching our
cruising speed.
Through our program, and partnership

with PUR, a leader in nature-based
development, we provide financial and
technical support to our community of
farmers in planting different types of
trees, including timber, fruit and nitrogen-
fixing trees, on and around their farms.
We assist farmers in transitioning from
unsustainable monoculture to
agroforestry, which not only enhances
biodiversity and soil health, but also
ensures resilient and sustainable food
production practices for the future.
Furthermore, we also invest in

compensation via third parties through
credits. In 2022, we have invested
through the support of HSBC Asset
Management in Climate Asset
Management’s Nature Based Carbon
Strategy. Our investment aims to deliver a
sizeable proportion of our carbon credit
requirements, and it will support our
efforts in transitioning to a lower
emissions food production.

Responsible management
of our water resources Our long-term objectives Key Performance Indicators
Water represents an essential resource
vital to our operations at Puratos. We • By 2030, be water-balanced We reduced by 10.7% per ton
deeply recognize the pivotal role water produced, compared to 2016
plays not only within our activities but (base year)
-10.7%
also within the broader ecosystem. We
are committed to achieving water
balance by 2030, which entails
minimizing use of freshwater, enhancing
the quality of our water discharged and 1.9 M€ invested in wastewater
mitigating water risks in our direct treatment projects.
1.9M€
operations and in our value chain.
In 2019, we established a water-related

risk assessment tool and methodology
designed to facilitate a transparent,
structured, and standardized approach During 2019, we conducted water-risk actively implementing since then, with
to identifying and quantifying water- assessment using this tool across our 10 ongoing efforts in 2023.
related risks both on and off-site. We largest sites, which collectively account
acknowledge that many water-related for 64 % of our total water usage. The In 2023, we reduced our water
risks are driven by external factors such results of this assessment led to the consumption per ton produced by 10.7%
as local environmental conditions and development of a mitigation plan in our compared with 2016, representing an
public water management policies. direct operations, which we have been economy of scale of 32,000 m³. This is the
result of the implementation of a water
reuse project in Mexico coupled with
improved water conservation practices
resulting in fewer leakages compared to
m3 per ton produced previous years.
2.15 Of our total water use of 1.9 billion liters,

2.09 10% is used as an ingredient, 15% is
2.10
evaporated for cooling, and 75% ends up
2.05
2.04 in the form of wastewater to be treated.
2.00 To ensure that all water used in our
2.01
1.95 operations is treated before discharge,
1.90 1.94 1.92 we either work with the municipality, in
1.85 1.88 1.88 charge of the treatment, or the
1.80
wastewaster is treated on-site. In 2023,
1.81 we invested €1.9m in wastewater
1.75
-10.7% treatment projects In 8 countries Mexico,
1.70 the USA, Spain, Malaysia, Belgium,
1.65 France, Latvia and Brazil.
2016 2017 2018 2019 2020 2021 2022 2023 To demonstrate the safety and
environmental benefits of our water
Actual discharge, we've built fishponds at
treatment sites to showcase the quality
post-treatment, before release into rivers.
We also continuously monitor
physiochemical parameters, such as pH,
Puratos's Recognition by CDP for Climate Chemical Oxygen Demand (COD),
Change and Water Management. Suspended Solids (SS), nitrates and

phosphates,etc.
We have once again been climate change, demonstrating our Looking ahead to 2024, we plan to
acknowlegded by the Carbon commitment to reducing carbon conduct another comprehensive
Disclosure Project (CDP) in 2023 for our emissions and mitigating climate- water-risk assessment across our 10
proactive efforts in combatting climate related risks. Similarly, our B grade in largest sites. This initiative aims to identify
change and managing water water management surpasses the any additional water-related risks and
resources. While the average grade industry average of C, reflecting our further strengthen our water
within the food and beverage dedication to responsible water management strategy.
processing industry stands at B-, we stewardship and conservation
achieved a noteworthy grade of B for practices.

Sustainability Good
Waste management in our

operations and the circular Our long-term objectives Key Performance Indicators
economy
Improper waste management is a • Send zero waste to landfill in our 3 sites successfully transitioned from
universal issue impacting people and the TOP-12 producing countries by landfill disposal to alternative
planet. The effects of waste include soil, 2025 and worldwide by 2030. treatment methods.
3 sites
air, and ocean pollution, We aim to
reduce waste in our operations and • Reduce our total waste
promote a circular economy, taking generated and optimize waste
appropriate actions over time. sorting.
Reducing waste generated in operations PRODUCT

Our approach to waste management PREVENTION (NON-WASTE)
and reduction prioritizes prevention, with
an emphasis on refusing and reducing
waste. We advocate for reuse whenever Preparing for Re-use
feasible before considering recycling
options. Moreover, we emphasize
Recycling
recycling over energy recovery options.
WASTE
We generate different type of waste
Recovery
while manufacturing our products, such
as recyclable waste (plastics, paper/
cardboard, wood, metal, glass, etc),
Disposal
hazardous waste, organic waste from
production, sludges from our on-site
wastewater treatment plants and
residual waste.
In 2023, Puratos generated in total 83,000 In 2023, we focused on collecting waste each of these sites. The next phase
T of waste that were treated as follows: data, setting up procedures for involves replicating this success for the
managing waste and running training remaining 10 sites, a task scheduled for
sessions and awareness campaigns completion in 2024.
internally.
Looking ahead, we are committed to
Additionally, 3 sites successfully reducing the overall volume of residual
transitioned from landfill disposal to waste generated by our production
alternative treatment methods, including processes. Simultaneously, we will
incineration with energy recovery. This intensify our recycling efforts to advance
marked a significant achievement for a more circular economy.
Reuse – 0.4%
Agricultural spreading – 6%
We aim to foster a culture of caring for
Animal feed – 39%
Biomethanisation – 28%
responsible waste management.
Incinceration with heat recovery – 5%
In 2023, we celebrated the efforts around our site. In Turkey, we
Landfill – 10%
International Zero Waste Day on March conducted an awareness campaign
Recycling facility – 12%
30th for the first time. Across various and training sessions, while in Spain, our
regions, we organized events to emphasis was on newsletter topics and
promote good waste sorting practices. sharing best practices. Additionally, in
In the Philippines, we launched a Groot-Bijgaarden, Belgium, we ran a
'waste segregation campaign' focused sorting awareness campaign in the
on plastic, while in South Africa, Puratos cafeteria.
employees engaged in trash removal

Preventing and reducing food waste and production capabilities, and Reducing Food Waste at our customers
We are deeply committed to reducing optimize shelf life considerations from To address the food waste issue at our
food waste internally, within the the start of product development. customers and at the end consumer, we
production and warehousing processes • Production: We prioritize the "Right have a range of solutions and
of our products, while helping our First-Time" principle through operator innovations that help to extend the shelf
customers and consumers in their efforts training, preventive maintenance, and life and freshness of their food products.
to reduce waste externally. quality control measures to address
errors, significantly reducing food waste We offer a range of non-dairy toppings
Reducing food waste in our operations and upholding our commitment to for cakes and other food applications
Food waste occurs at various stages of delivering top-quality products from the that have excellent stability over time,
our product life cycle including excess outset. leading to extended shelf life and
raw materials, unsellable inventory • Warehousing and Transport: We ensure reduced risk of waste. These toppings
during development, production failures, proper storage and handling practices have a high tolerance to over-whipping,
and warehousing incidents. In 2023, we and strict control of high-risk raw which increases efficiency and avoids
reduced food losses by 20% in weight materials. Additionally, we prevent unusable products. All of our non-dairy
compared to 2022, and are aiming for infestations and packaging damage toppings are produced using UHT
another 20% reduction in 2024. during storage and transport. technology, which, in combination with
• Finished Goods Stock Management: aseptic packaging, provides additional
Our zero-food-waste journey involves We optimize forecasting processes, food safety benefits, and an average
proactive measures to address these review floor stock agreements, and shelf life of nine months.
issues: employ fire sale strategies for aging
stock, not only ensuring efficient
• Raw Materials: We collaborate with inventory management but also
suppliers to acquire raw materials with contributing to our commitment to
the maximum remaining shelf life and reducing food waste through proactive
explore shelf-life extension options. Any measures.
excess materials are utilized in • Trash Management: We are committed
alternative formulations. to achieving zero landfill by 2030,
• Product Development: We align exploring alternatives like donation,
specifications with market demands fermentation, and energy recovery.
The art of baking is not an easy one to

master, and there are all manner of
variables that can impact our customers’
food products and creations. The
weather and the temperature may turn,
the new season’s flour may be
unexpectedly different, the yeast could
be aging, and different machines might
generate different results. Our bread
improvers help our customers control all
the uncertainties within the bread
production process for consistent results.
Without an improver, losses on a
production line are around 3% – but, with
the help of an improver, these losses drop
to 0.5%. A packaged cake, for example,
will have a shelf life of around five days.
With the help of Acti, our large range of
cake improvers based on enzymes
technology, it can be kept for up to three
months.

Sustainability Good
Improving our packaging solutions
Packaging type overview

• 100% of our outbound packaging

materials to become reusable or Reusable (in tonnage)1
23%
recyclable-ready by 2025.
• Source 100% of our virgin paper

and wood packaging in Europe
from certified sustainable forestry
certifications. Recyclable (in tonnage)1
69%
We have set the ambition for all our In 2023, 92% of the tonnage of our Recyclable – 69%
outbound packaging materials to be fully outbound packaging materials, Reusable – 23%
recyclable or reusable by 2025, with a including primary, secondary and Single use – 4%
strong emphasis on assisting our tertiary packaging, are reusable or Uncategorized 3 – 4%
customers in reducing their environmental recyclable-ready.
footprint. This involves lowering the
environmental impact not only of our Our main focus centers on the increase
products but also of the packaging of reusable packaging through pallets
solutions our products come in. pooling systems and industrial stainless
steel containers, along with the
Our targets are translated into dedicated implementation of bag-in-container
objectives and projects, following the solutions. Additionally, we are dedicated
Reduce, Reuse, Recycle principles (3Rs) to the development of recyclable-ready
- to avoid any ‘overpacking’ of our solutions on paper-plastic combinations
Puratos products (‘Reduce’) while for our powder products which accounts
maintaining product quality and shelf for 6% of the global packaging volume.
life, to ‘Reuse’ packaging materials Furthermore, we are committed to
maximally where possible and to developing innovative flexible plastic
introduce recyclable-ready packaging packaging solutions using monopolymer
(‘Recycle’). Moreover, Puratos aspires to materials to fit into existing and future
source 100% of its cardboard and recycling schemes.
wooden packaging in Europe from
sustainable forestry by 2025. Last but not least, we actively participate
in sector and public initiatives focused on
In 2023, Puratos concentrated its efforts food packaging sustainability. Notably,
on the packaging practices across its 22 we are fully aligned with the packaging
primary producing countries, which sustainability statement of our European
collectively represent 96% of the Group’s sector federation, FEDIMA 2.
total packaging portfolio expenditure.
1 - Based on 22 primarily producing countries representing 96% of packaging spent

2 - Fedima, the Federation of European Manufacturers and Suppliers of Ingredients to the Bakery, Confectionery
and Patisserie Industries, is committed to creating a favourable policy environment ensuring a sustainable
and an innovative bakery industry. Read more here https://www.fedima.org/
3 - Data to be collected in 2024

Our new packaging Belcolade

Belcolade, Puratos's Real Belgian Chocolate brand, is dedicated to sustainability, exemplified by our
initiative to eliminate single-use plastic and transition to fully recyclable packaging by 2025. In 2023,
we introduced an innovative packaging solution for our chocolate blocks and drops. This
achievement, which ensures sustainability without compromising quality, was a collaborative effort
involving our packaging team, diverse suppliers, and experts.
While prioritizing sustainability, we polyethylene as a mono-material for its chosen not just for aesthetics but also to
maintained the highest standards in impressive strength and versatility in enhance recyclability. The cardboard
packaging quality, ensuring freshness, handling varying weights. outer boxes for our 2x5Kg drops
taste preservation, and food safety for packaging underwent a redesign for
our Belcolade chocolates. The Beyond technical enhancements, we increased environmental friendliness,
packaging's durability for transportation revitalized the Belcolade brand with a utilizing unbleached kraft layers and
and customer use, along with efficient more sustainable and modern significantly reducing printing inks, while
high-quality printing, was a critical appearance, aligning with the new maintaining a modern and minimalistic
consideration. We selected Belcolade identity. Lighter colors were image.

Sustainability Good
GRI 2-23 GRI 2-24

GRI 2-25 GRI 3-3
Responsible Sourcing
To manufacture high-quality ingredients for the bakery, patisserie, and chocolate

industry, Puratos sources many different raw materials from around the world. Our
commitment is to build a resilient value chain for critical raw materials that ensures
traceability, transparency, and responsible sourcing across our entire supply chain.
Collaboration with all the stakeholders involved in our value chain is essential to progress
towards this goal.
We believe that responsible sourcing is Our commitment to ethical In particular, we ask suppliers to commit
key to ethical trading, and we make it trade practice to:
our priority to ensure that our entire • Providing good working conditions
supply chain has the same ethical The protection of human rights is at the (contracts, health and safety, equal
standards, so that we can guarantee heart of public awareness and one of opportunities).
that the production and sourcing process Puratos’s core values. Our policy on • Opposing slavery, all forms of forced
is truly responsible. human rights respects and labor, including child labor, and all
At Puratos, we recognize that the acknowledges internationally other forms of abuse and exploitation.
demand for certain ingredients and raw recognized principles, such as the OECD • Being compliant with local
materials can put pressure on natural Guidelines for Multinational Enterprises, environmental regulations and
ecosystems and affect the sustainable the UN Guiding Principles on Business conservation, including deforestation
development of local communities. and Human Rights, the Core Conventions and the use of harmful pesticides.
Therefore, we have implemented specific of the International Labor Organization
policies for raw materials such as palm and the 10 principles of the United Our Code ensures full transparency and
oil, cocoa, fruits, and eggs, developed Nations Global Compact. represents our moral commitments to the
by representatives from our quality, different players throughout our value
purchasing, sustainability team, and We ask all our suppliers to sign our chain. These policies are reviewed and
specific product teams. Supplier Code of Conduct or to share approved by the Group Executive
theirs with us, so as to make sure we Committee in the first instance, then
develop sustainable and ethical value presented to the Board of Directors for
chains. approval.
Puratos is working on compliance with

the upcoming EU deforestation
regulations (31/12/2024)
The impending (EU 2023/1115) deforestation regulation underscores the urgency
to adopt sustainable practices within our supply chains. Recognizing the
importance of preserving forests and combating deforestation, we are actively
engaged in assessing our sourcing strategies and enlisting stakeholders to ensure
that our cacao, soy, and palm oil sourcing aligns with the upcoming EU
regulation.

Sustainability Certification schemes Through certification and audits, an active participant in this mission,
Sedex Fairtrade ensures compliance with their contributing to the sustainable future of
Puratos is a member of Sedex, the standards in every step of the supply palm oil production. Puratos has 73
Supplier Ethical Data Exchange – a chain. At Puratos, we use Fairtrade countries licensed for either production
not-for-profit organization dedicated to certification in our cocoa, sugar, vanilla or distribution of RSPO products.
driving improvements in responsible and and nuts supply chains. 11 Puratos
ethical business practices in global countries are certified for production BASP
supply chains. Based on 4 pilars (health & and/or trade of Fairtrade products. Puratos is a founding member of the
safety, labour standards, environment Belgian Alliance for Sustainable Palm Oil,
and business ethics), it monitors and Rainforest Alliance founded by various stakeholders in the
assesses the sustainability performance Rainforest Alliance certification helps palm oil sector committed to ensuring
of our suppliers, as well as the associated farmers produce better crops, adapt to that food products containing palm oil
social, environmental and business climate change, increase their placed on the Belgian market only
ethical risks. productivity, and reduce costs with focus contain RSPO certified palm oil.
on crops growing around rainforests.
In 2022, we increased our level of risk These benefits provide companies with a Beyond Chocolate
prevention and mapping of our supply steady and secured supply of certified Beyond Chocolate is a partnership for
chain by upgrading our Sedex products through certification, yearly sustainable Belgian chocolate. As a
membership. We use the tool for supplier questionnaires and audits. At Puratos, we member since 2018, Puratos commits to
risk assessment and taking actions use Rainforest Alliance certification in our working with signatories on a range of
towards the suppliers for our sites. In 2023, cocoa and nuts supply chains. In total 25 challenges in the field of sustainable
our Belgian, Vietnamese and British Puratos countries are certified for chocolate – such as end deforestation,
(Liverpool) sites were submitted to a production and/or trade of Rainforest stimulate education for future
SMETA audit, thereby increasing our Alliance products. generations and provide a living income
transparency towards our customers for cocoa growers. In concrete terms, by
through the Sedex platform. In total, 16 RSPO the end of 2025, all the chocolate
Puratos countries are now listed on Sedex Roundtable on Sustainable Palm Oil produced and/or sold in Belgium shall
of which 5 have been submitted to an (RSPO), a global non-profit organization, comply with relevant certification
audit. is dedicated to bringing together standards and/or shall be manufactured
stakeholders from across the palm oil from cocoa-based products covered by
Fairtrade supply chain. Their mission is to develop a corporate sustainability scheme.
Fairtrade's approach enables farmers and implement global standards for Additionally, by 2030 at the latest,
and workers to have more control over sustainable palm oil through licenses, deforestation due to cocoa growing for
their lives, Fairtrade supports and certification and audits. As part of this the Belgian chocolate sector will have
challenges businesses and governments initiative, they work with various entities, ended.
while connecting farmers and workers one of which is Puratos. Puratos, holding
with the people who buy their products. the license number 2-1152-20-000-00, is

Sustainability Good
Our commitment to sustainable palm oil

In 2023, we fully switched to segregated
Our long-term objectives Key Performance Indicators palm products in all of our Belgian plants.
By lack of availability in RSPO palm kernel
raw materials and RSPO palm kernel
By the end of 2025, Puratos sites currently RSPO certified: credits, less RSPO palm kernel raw
37
materials and credits were bought since
• all palm oil purchased by the mid-2021.To maintain our objective in
Puratos Group will be RSPO investing in sustainable production, in
(Roundtable on Sustainable Palm have a production license (+5 sites 2023 we initiated a collaboration with
Oil)-certified under the Mass compared with last year) and 36 have Solidaridad Network, an international
Balance supply chain model, if a distribution license civil society organization dedicated to
not segregated supporting the smallholder farmers and
workers, and developing solutions to
• All production sites bying palm oil Total palm oil purchased by the make those communities more resilient.
will be RSPO- certified Group is under RSPO mass balance
or segregated certification. We are committed to trading with
36%
• All distributing sites will have a certified suppliers who share our values
distribution license and support the production of
sustainable palm oil for the total palm oil
consumption of our group. To achieve
this commitment, we have conducted a
traceability exercise up to mill level with
Puratos recognizes the importance of materials under RSPO mass balance or top palm suppliers covering more than
palm oil as an essential raw material segregated certification, compared with 90% of Puratos Group palm supply,
used in many of our products .However, 58% in 2022. performed in collaboration with
we are also aware of the serious Earthworm Foundation. Using this mill list,
concerns regarding palm oil supply Puratos is a member of the Roundtable we collaborate with Earthworm
chains and the risk of deforestation.We on Sustainable Palm Oil (RSPO) and the Foundation to enhance transparency
are committed to sustainable palm oil Belgian Alliance for Sustainable Palm Oil and pinpoint areas for improvement by
cultivation that respects biodiversity, (BASP) and has made a commitment examining our ethical and environmental
natural ecosystems, local communities, that by end of 2025 all palm oil practices within the palm supply chain. In
and workers in palm oil-producing purchased by Puratos Group will be 2024, we will be working on a procedure
countries. Since 2020, we have achieved sustainable and as such comply with to be in line with our values and on a tool
our goal of ensuring that 100% of our total Puratos's sustainable palm policy and the to comply with upcoming EU legislation
palm oil supports the production of RSPO EU regulations on no-deforestation and on due diligence.
certified products. In 2023, 36% of total due diligence. By buying RSPO certified
palm oil purchased by the group was palm oil and direct involvement into the
sourced under RSPO mass balance or palm oil supply chains up to the level of
segregated certifications, supplemented the smallholders, we are supporting the
by the purchase of book and claim production of sustainable palm oil even
credits. Within our RSPO certified sites, we outside our own supply chain.
sourced up to 60% of palm oil raw
Read more about our Palm Oil

Puratos collaborates with Solidaridad Policy online: www.puratos.com/
Network to promote sustainable

commitments/next-generation/
better-planet/responsible-sourcing
production of palm oil and its derivatives

We have initiated a partnership with elevate sustainable palm and palm
the Solidaridad Network in 2023, kernel production.
aiming to foster sustainability within the
palm oil industry. Solidaridad's Through this collaboration, we are
expertise in supporting farmers to investing directly in smallholder farmers
adopt best management practices instead of purchasing credits. This
and access technology aligns with our initiative will lead to the development
commitment to responsible sourcing. of an alternative credit system, subject
By directly supporting over 3,000 to rigorous external audits, aligning
smallholder farmers in Malaysia, with EU legislation on non-deforestation
Honduras and Colombia working and corporate due diligence.
together with Solidaridad, we seek to

Our commitment to sustainable cocoa
66.5% 25.5%
By 2025,
• all chocolate produced and sold
by Belcolade will be sustainable,
in accordance with Beyond
Chocolate. of cocoa ingredients sourced by of total volume sourced by the Group
• 75% of Puratos’s global cocoa Belcolade is sustainable is through our (audited) Cacao-Trace
supply will be sustainable, in (certified and recognized) Program
accordance with Beyond
54.1% 679,854
chocolate.
• 20% of our cocoa ingredient
sourcing will be from the Cacao-
Trace program.
• Puratos will have planted about of cocoa ingredients sourced by the trees planted since 2019,
1.3m trees in its direct Cacao- Group is sustainable of which 324,478 in 2023
Trace cocoa supply chain. (certified and recognized)
By 2030,
• Puratos will comply with the
Beyond Chocolate commitments
to earn at least a living income for convinced that the cocoa and ingredients company, we play an active
cocoa farmers and end chocolate sector challenges – such as environmental role in cocoa supply
deforestation due to cocoa farmer income, forced labor and chain. We’re committed to a cocoa
growing. deforestation – can only be tackled by all supply chain free of deforestation and
• 100% of the Puratos Group cocoa stakeholders from the cocoa and forest-positive – meaning we aim to
ingredients will be sustainably chocolate chain working together, and sequester more carbon than we release
sourced, and 30% of our cocoa by involving consumers. This is what we from our activities.
ingredient sourcing will be part of aim to achieve with our Cacao-Trace
the Cacao-Trace Program. program. Since 2019, we have planted over 679,854
trees within our direct Cacao-Trace
Cacao-Trace is the world-leading cocoa supply chain. These efforts aim to
Cocoa is an essential raw material for sustainable cocoa sourcing program that promote climate-smart farming
Puratos. We source our cocoa from three is raising the bar for chocolate. Training techniques, generate additional income
key regions, Africa, Asia Pacific and Latin on best agricultural practices and for farmers and sequester carbon to
America, spanning over 13 countries. In premium pricing for cocoa farmers are mitigate climate change impacts.
2023, 25,5% of our cocoa was sourced part of our program. This leads to superior
from Puratos’s Cacao-Trace program, cocoa bean quality and results in Furthermore, we urge all our primary
where we are directly involved in the additional income for approximatively suppliers to endorse our sustainability
supply chain. In addition, 28% of our 23,000 farmers across eight countries – cocoa policy. By doing so, they commit
sourcing falls under sustainable the Philippines, Ivory Coast, Papua New to fostering a cocoa supply chain that is
certification such as Rain Forest Alliance Guinea, Uganda, Cameroon, Vietnam free of deforestation, respects ethical
and Fairtrade international. and Mexico. More details about the standards and integrity, and aligns with
program can be read on page 51. the principles outlined in the
We are very much engaged in creating International Labour Organization (ILO)
a sustainable future for the next We’re conscious of the cocoa-related conventions, including the eradication of
generations through close collaboration environmental challenges and the threat child labor.
with key stakeholders and are truly of global warming. As a leading food
Read more about our Cocoa Policy

Cacao-Trace % evolution versus total volume
online: www.puratos.com/
25 commitments/next-generation/
better-planet/responsible-
20 Objective for 2025: 20% sourcing#Cocoa
15
Read more in Cacao-Trace & Next
Generation Cacao Foundation
10 Annual Report 2023: www.puratos.
com/commitments/next-
5 generation/better-planet/
responsible-sourcing#Cocoa
2017 2018 2019 2020 2021 2022 2023

Sustainability Good
Partnerships with Farmers practicing

Regenerative Agriculture
Soils are experiencing severe degradation primarily due to intensive farming practices,
which pose a significant threat to the future of our food system.
In response, we have established collaborating with our customers to beet and chicory root industry, in a
partnerships with farmers practicing create delicious breads made from 3 year project to participate in their
regenerative agriculture techniques. sustainable ingredients. We also ensure ambitious Climate Farming Project. This
Through these collaborations, we aim to fair compensation for the pioneering initiative encompasses 15 pilot farms,
acquire firsthand knowledge and farmers involved in the project. In agronomists, and research centers,
insights intro sustainable farming addition, we initiated similar focusing on approximatively 14ha of
practices, including the benefits for collaborations with Wildfarmed in the Sugar beat and 31ha of wheat. The
bread. In 2023, we have joined forces UK and Provenance Flour and Malt in project will result in the local production
with 2 farmer cooperatives in Belgium Australia for the production of our local of, among others, beet sugar and
that promote soil healthier practices, sourdough range. chicory root fibre, all cultivated
‘Cultivae’ for rye and ‘Farm or Good’ for according different regenerative
wheat. We are committed to In parallel, we have partnered with the farming practices.
incorporating the grains into our Raffinerie Tirlemontoise and BENEO,
sourdough Sapore range and leading players in the Belgian sugar
Our commitment to a sustainable fruit supply

Fruit is a beneficial natural ingredient.
Our long-term objectives Key Performance Indicators At Puratos, we are sourcing over 120 fruit
varieties on a worldwide level. This
extensive fruit sourcing network is a
• Reach 15% of our fruit sourcing
through the Field to Fork program
by 2025 13.9%
of fruit sourcing through the Field to
crucial component of our overall
approach to delivering exceptional and
innovative fruit filling solutions in bakery
and patisserie products. In 2023, we
• Reach 20% of our fruit sourcing Fork only program sourced 13.9% of our fruit through the
through the Field to Fork program Field to Fork program. Since 2021, the
80%
by 2030 ratio of fruits sourced through this
program have been steadily increasing.
• 100% of our suppliers compliant
with our Fruit Pesticide policy by of our supplier compliant with the
2025 in our sites in Latvia, Canada
Puratos Fruit Pesticide Policy in our
and USA.
sites in Latvia, Canada and USA
• 100% of our suppliers compliant
with our Fruit Pesticide policy by
2030 in every site

To ensure that we provide the best from with local fruit growers and a secure
nature sustainably, our responsible fruit revenue for them. We work closely with Sustainable pilot
sourcing program goes beyond requiring
our suppliers to sign our Code of
the farmers to promote sustainable
practices, and create value for the fruit orchard with our
Conduct. It also focuses on:
• Securing commitment from the
growers and the customers by sharing
the heritage and local originof fruits. Bramley apple in
farmers and fruit growers on reducing
pesticide usage in accordance with In order to track the number of suppliers
Kent UK
the Puratos Fruit Pesticide policy. This who comply with the Puratos Fruit Scientists are debating on how many
involves implementing a robust Pesticide policy, we created a new harvests are left in the UK due to
monitoring plan to ensure tracking tool to accelerate the intensive farming methods that have
compliance. implementation of said policy. By the end depleted soil biodiversity and
• Increasing local fruit sourcing, of 2023, more than 80% of our suppliers quality. Recognizing our
supporting local fruit growers and were compliant therewith in our largest responsibility, especially with our
participating in the preservation of sites in Europe & North America, being Bramley apple orchard in Kent, the
biodiversity via our local and Latvia, Canada and USA, representing heart of UK's fruit production, we've
transparent fruit sourcing program, more than 50% of total volume. Our taken action. Working closely with
Field to Fork. ambition is for 100% of our fruit suppliers our orchard manager, Swailey, we
in our largest sites to be compliant with are exploring sustainable farming
Our Field to Fork program is promoting a our rigorous Fruit Pesticide policy by 2025 practices to mitigate our
more transparent and local fruit sourcing and 100% of our suppliers in every site by environmental footprint and restore
contributing to a long-term relationship 2030. the soil health. Our focus extends
beyond environmental benefits;
we're also observing positive impacts
on orchard yield, apple texture and
taste. The learnings of the pilot will
be shared within our supply chain to
support our fruit growers in
transitioning to sustainable practices.
% sourcing fruit
20
15
10
Read more about our Fruit Sourcing

2021 2022 2023 2024 2025
program online: www.puratos.com/
Field To Fork % target commitments/next-generation/
Field To Fork % achieved better-planet/responsible-sourcing/
fruit-from-field-to-fork
The environmental impact of wild berries

from the North is seven times lower than
that of cultivated ones
The Product Environmental Footprint (PEF) study1 reveals that the wild blueberries
hand-harvested in Latvia’s forests have up to 7 times less environmental impact
compared with cultivated blueberries. With our “Berries from the North” concept,
we provide a chance to decrease the environmental footprint of our customers’
berries-filled products by up to 35%. Additionally, “Berries from the North” are rich
in antioxidants, offering potential health benefits to consumers.
1 - A standardized framework used to assess and quantify the environmental impact of a product throughout its entire Lifecycle,
covering all 16 human impacts on the environment, including climate change, land use, and water scarcity.

Sustainability Good
Our commitment to cage-free eggs and animal welfare
• By the end of 2025, 100% of the

eggs and egg products used by
Puratos Group will come from
alternative breeding to cages.
30%
of our eggs sourced came from
alternatives to breeding cages
Puratos recognizes the significance of percentage remained static compared Puratos offers effective alternatives for
animal welfare and its impact on our with previous years, accounting for 30% bakers and food producers aiming to
environment and food production. As of our global egg purchases. Persistent reduce the use of eggs in bakery and
providers of bakery, patisserie, and supply challenges throughout the year, patisserie applications. Our solutions
chocolate ingredients, we are influenced by market dynamics and include:
committed to enhancing our sourcing customer demands, constrained our • Acti Egg Reduction improver, enabling
practices for products requiring eggs. ability to increase our share of cage-free to reduce 15% of eggs in cakes.
eggs. • Intens Egg Replacement improver,
Furthermore, we are offering a wide enabling to reduce up to 100% of
range of alternative ingredients for our As we navigate these complexities, we eggs in yeast-raised applications,
customers to enable them to reduce remain resolute in promoting sustainable such as bread, buns, and rolls.
their reliance on animal-based raw sourcing practices, and continue to • Sunset Glaze 100% plant-based
materials like dairy products and eggs. explore different ways to contribute to egg-wash alternative, enabling to
animal welfare and environmental avoid a ton of eggs for each ton of
In 2023, we faced challenges in stewardship. Sunset Glaze used.
advancing our commitment to sourcing
cage-free or free-range eggs, as the
Custard Creams, Deli Cheesecake, Deli

Yema exclusively with cage-free eggs
By 2024, all our European Union (EU) 2023, local specialties such as ready-
sites producing cream fillings will to-use custard creams manufactured
exclusively source cage-free eggs for in Lummen, Belgium, Deli Cheesecake
the manufacture of products such as and Deli Yema produced in Spain,
Cremfil and Deli. In line with our have already made the switch to
commitment to animal welfare, in cage-free eggs.

Better
Life
People Heritage Community
100%
of our employees received regular
3,000+
sourdoughs registered in our digital
€2.4m
annual Chocolate Bonus distributed
performance and career development library since September 2016. in 2023.
reviews in 2023.
Read more on Page 39 Read more on Page 47 Read more on Page 50

Sustainability Good
GRI 2-7 GRI 2-8

GRI 2-25 GRI 3-3
People
At Puratos, we firmly believe that our employees are not

just the backbone of our present success but also the
architects of our future. In a world that's constantly
evolving, the one constant that remains is our
commitment to the people who make everything we do
possible. Each member of our team is a vital piece of the
puzzle, bringing unique strengths, ideas, and passions to
the table. We are more than a workforce; we are a family,
united in our mission to innovate, excel, and lead with
integrity.
We place people at the heart of Our Puratos Magic culture

everything we do, recognizing that it is
their hard work, dedication, and vision Our ambition is to perpetuate our Puratos
that propels us forward. Our commitment Magic - our values and working
to nurturing, valuing, and empowering principles - as the unique foundation of
every individual is unwavering. We see the successful growth of the company
the potential in each of our employees, and our employees.
not just as professionals but as human
beings with dreams, goals, and For more than 100 years, our ‘Puratos
aspirations. We cultivate a workplace Magic’ culture has been uniting and
that is diverse, inclusive, safe, healthy and inspiring people, enabling them to
engaged. It is this people-first approach accomplish extraordinary things.
that shapes our culture, fuels our growth,
and ensures our place as a leader in our
industry. In 2023, according to our Pulse
survey, we have seen a 17%
Five priority areas in our People First increase in the connection of our
Strategy drive our People Sustainability employees with our Puratos Magic
ambition: values and working principles.
• Our Puratos Magic culture
• Our Talent for the Future program
• Our Calling for Caring employee We respect, inspire and trust each other
health and wellbeing initiative – ensuring every employee can unleash
• Our Diversity, Equity and Inclusion his or her talents, become successful,
charter and contribute to achieving our long-
• Our Total Rewards strategy term ambitions. We will continue to
perpetuate our 'Puratos Magic' culture, in
full alignment with our purpose and
mission.

Better Life continued
Our Talent for the Future program

In 2023, we have reaffirmed our
unwavering commitment to empowering
our team members to achieve
extraordinary outcomes and reach their
full potential, underscored by our robust
training initiative. This year, our program
has been instrumental in facilitating over
38,080 hours of learning through our
global programs, engaging more than
6,800 active learners across 419
thoughtfully curated courses. Looking
ahead, we will move towards an
average of 5 days of training per
employee by 2026.
A testament to our dedication to

nurturing growth is the fact that 100% of
our key talents have a personalized
development plan in place, ensuring
targeted growth and career progression.
This comprehensive approach to
learning and development not only
equips our team with the essential skills
and knowledge for their current roles but
also meticulously prepares them for
future challenges and opportunities. Our
investment in the development of our
people is a reflection of our belief in their
potential and our commitment to the
collective success of our organization,
setting a new standard for excellence
and innovation in our industry.
Key Performance Indicator
Global face-to-face, virtual and

digital course completions
Global compliance course completions:

• Business Ethics and Code of Conduct
(part 3 and part 4): 98% end-year
completion
• Code of Conduct 2023: 96% of
end-year completion
• Safety Basic Induction: > 80% of
end-year completion
• Cybersecurity: Essentials: 89% of
end-year completion, Strongest Link,
96% of end-year completion.
(Launched in October 2023)

Sustainability Good
The Pulse Survey

In 2023, we continued our commitment to fostering an open and communicative workplace through the
launch of our global Pulse survey, building on the foundation laid by our Voice survey.
These internal tools are specifically We extended an invitation to all

designed for our employees to share employees to participate in this survey,
their candid feedback on crucial and we were met with an enthusiastic
aspects of our organization, including response, achieving a global response
engagement, enablement, leadership, rate of 88%. This impressive figure not
communication, collaboration, only reflects our employees' keenness to
development, and our core values and engage in meaningful dialogue but
purpose. The Pulse survey serves as a also underscores the trust and openness
pivotal platform for us to gain insightful that characterize our workplace culture. highlights the effectiveness of our efforts
perspectives from our team members, Furthermore, we are proud to report to listen to and act on our employees'
offering them a voice to suggest that our global engagement rate has feedback, further strengthening our
improvements and contribute ideas reached 79%, which is 8 points higher commitment to making our
towards enhancing our company's than the average within the general organization a better place to work for
efficiency and workplace environment. industry. This significant achievement everyone.
The People Manager Academy

The People Manager Academy, meticulously crafted by and for People
Managers, stands as a testament to our dedication to leadership excellence. This
innovative program is aimed at delineating clear expectations for our People
Managers, equipping them with the essential tools and support to excel in their
pivotal roles. Conceived with a global vision, the Academy is skillfully tailored at a
local level, acknowledging and addressing the unique challenges and realities
faced in diverse regions.
Structured into four comprehensive modules, the Academy

embarks on a journey starting with an in-depth exploration of
the People Manager's role throughout the employee
lifecycle. Subsequent modules delve into critical areas such as
leading and engaging hybrid teams, enhancing employee
health and well-being, fostering effective communication
within individuals and teams, amplifying engagement, and
cultivating a culture enriched with feedback and inclusion.
Each segment of the program is designed to offer robust
frameworks, practical exercises, reflective sessions, and
networking opportunities, fostering a holistic development
environment for our leaders.
Since its preliminary introduction in 2022, the People Manager

Academy has achieved significant milestones. In 2023, the
program expanded its reach, welcoming over 500 People
Managers from more than 40 countries. This expansion
underscores the program's integral role alongside our suite of
global and local leadership initiatives, further solidifying our
commitment to nurturing leaders who are not only equipped
to face today's challenges but are also prepared to harness
the opportunities of tomorrow.

Our Calling for Caring employee health- and well-being initiative
In our journey towards a zero-incident

Our long-term objectives Key Performance Indicators culture, we emphasize the importance of
participation and accountability. By
involving everyone in our 'Culture of
Caring,' we underline the collective
Achieve zero work-related injuries to In 2023, we reported a LTIR of 0.76, responsibility towards Health and Safety,
Puratos employees and stakeholders marking a 13% increase, compared aiming for continuous improvement and
to 2022 excellence. Our approach is not just
+13%
about meeting targets but also about
Health and safety empowering each individual to
contribute to a safer and healthier work
At Puratos, we aim to create a zero- environment, ensuring our journey
incident workplace – a testament to our towards zero incidents is a collective,
deep-seated belief that the safety of our inclusive effort.
employees is paramount. This ambitious To enhance our Health and Safety
goal is not just a metric for us; it is a program and steadfastly pursue our
reflection of our dedication to fostering a ambition of zero work-related injuries to Employee well-being
secure, healthy, and supportive work Puratos employees and stakeholders, we
environment for every member of our are committed to several key initiatives. At Puratos, we firmly believe that the
team. Through comprehensive safety These include the relentless prevention of happiness and health of our employees
protocols, continuous training, and a incidents during work execution, the are crucial to fulfilling our global mission.
culture that prioritizes vigilance and care, deployment of a highly effective Health
we aim to ensure that every employee and Safety management system The Puratos Blueprint for Health and
returns home safely each day. centered on risk mitigation – highlighted Well-Being lays out a comprehensive
by our '10 Golden Rules' – and strict framework that establishes clear
We use the Lost Time Incident Rate (LTIR), adherence to all relevant Health and standards for nurturing a healthy
a widely recognized metric within the Safety legal requirements and employment experience across our
industry, as a key performance indicator regulations. Moreover, we are dedicated organization.
that allows us to quantitatively assess our to nurturing an exemplary safety culture
performance in maintaining a safe work characterized by robust communication, Our commitments under the Puratos
environment. In 2023, we reported a LTIR collaboration, and consultation. This Blueprint are multifaceted, focusing on
of 0.76, marking a 13% increase from the culture encourages every member of our physical and mental health, financial
previous year's rate of 0.67. This uptick has team and stakeholders to take personal health, a healthy and safe environment,
been carefully analyzed, and we have responsibility for the well-being of and social connection. We are
identified its source, ensuring that themselves and others, thereby fostering dedicated to enhancing the overall
comprehensive measures are being a shared commitment to safety well-being of our workforce, ensuring
implemented to address and mitigate excellence. they have the vitality to reach their full
this rise moving forward. potential and deliver exceptional results.
The evolution of our Lost Time Incident Rate (LTIR)
2.8
2.38
1.9
1.85
1.48
1.39 1.36
1.04 1.08
0.96
0.84
0.75 0.76
0.67
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Sustainability Good
Our commitment encompasses financial

education and security, ensuring the Our Employee Health & Wellbeing
physical and psychological safety of our
employees, and nurturing a culture of Digital Tools
care, belonging, and collaboration to
In 2023, we introduced pilot programs for two digital platforms
contribute to the betterment of society.
aimed at providing comprehensive support across various
In 2023, we continued to advance our domains, including mental health, social connection, and
strategic roadmap for employee health learning content designed to foster healthy habits and beyond.
and well-being. This included organizing
regular employee events and challenges Telus Health Thrive Global
to promote physical exercise, nutritional
Telus is our first-ever Global Employee Thrive is a wellbeing platform that offers
awareness, and energy-boosting
Assistance Program, providing support tools such as science-backed
routines. We hosted quarterly Global
to the wellbeing of our workforce across Microsteps, engaging challenges and
training sessions and Wellbinars © for
various domains including mental journeys, learning content, personalized
managers and employees alike, focusing
health, financial education, legal recommendations, and other resources
on prioritizing well-being and cultivating
guidance, social connection, aimed at helping people build
a healthy workplace. We also established
management counseling, and others. sustainable healthy habits across the
a Working Conditions Charter to ensure
In 2023, Telus was successfully various spheres of their wellbeing
safe and sanitary working conditions, a
implemented in four different markets, journey. Currently, it is available in 8
balanced work-life integration, and
extending its support to over 900 markets with more than 400 users
access to nutritious food options.
employees around the world. Our goal proactively taking action for their
Moreover, we have cultivated a warm,
is to ensure Telus coverage across all health and wellbeing.
inclusive environment where employees
Puratos markets by 2025-2026,
can freely express ideas or concerns,
strengthening our commitment with the
alongside the pilot of two digital
health & well-being of our workforce.
platforms providing on-demand access
to learning, professional counseling,
health resources, and practices for
renewing energy within the daily
workflow.
Through these initiatives, Puratos is

actively cultivating a Culture of Care,
making our commitment to employee
health and well-being a living reality
across our global workforce every day.

Our Diversity, Equity and Inclusion In 2023, of those employees who have
made an internal move (horizontal or
lateral), 48% are female and 52% are
At Puratos, we are deeply committed to principles, we strive to create an male:
fostering an inclusive global workplace environment where everyone feels
where diversity is not just celebrated but valued, heard, and empowered to
is seen as the bedrock of our strength contribute his or her best, truly reflecting
and innovation. Our belief is unwavering: the diverse world in which we live and
a mosaic of backgrounds, experiences, work.
knowledge, skills, perspectives, and
ideas does not just enrich our
organization – it propels it forward, Our long-term objectives
sparking innovation and fostering a
culture of collaboration and respect.
As an equal opportunity employer, we • Achieve a diverse, equitable and
ensure that every Puratos team member, inclusive workplace and culture
regardless of age, nationality, gender, by eliminating bias in our policies
sexuality, or religion, is given the same and practices. 48% 52%
opportunities to thrive and succeed. This
commitment extends to our dedication • Accelerate diverse representation
to fair and competitive compensation for at all levels of the organization.
all our employees. By embracing these
Case Study
Inclusive, safe and healthy

workplace
Our commitment towards an inclusive, safe and healthy workplace,
that embraces diversity and enables employees to pursue their
personal development has been recognized with the certification as
a Top Employer in Belgium and Spain, Great Place to Work in Turkey,
Mexico, Peru and Brazil, Best Companies to Work for Asia in Malaysia,
Best Companies for Youth in Dominican Republic and Best
Companies according to Apertura magazine in Argentina.

Sustainability Good
Headcount by function: Gender distribution U-team:
Operations 5,744
Sales 2,068
R&D 630
Technical Advisor 623
Finance 496
Marketing 308
Support 306
45% 55%
HR 184
ICT 142
General Management 103
Global Graduate Trainee 31
Legal 24
Audit 11
Process & Organisation
8
Transformation
Age distribution across the Group: Top 5 represented countries

by nationality:
3,485
3600
3,157
3000
2400
120
2,015
1800 1,527
nationalities
1200
worldwide
468
600
26
0
<20y 20-29y 30-39y 40-49y 50-59y ≥60y
Belgium – 11.5% South Africa – 4.79%
United States – 6.07% France – 4.72%
Mexico – 5.72%
Top 5 spoken languages worldwide:
43
spoken
languages
English – 18.83% Dutch – 7.29%

Spanish – 14.18% Russian – 5.26%
French – 11.78%

Our Total Rewards strategy

Our long-term objectives
At Puratos, our total rewards strategy is
built on the cornerstone of fairness, • Ensure fair and ethical compensation for all Puratos employees by 2030:
consistency, transparency, and - Align pay with market rates and offering flexible rewards tailored to
competitiveness. We are dedicated to individual needs.
ensuring that every member of our team - Establish transparent pay practice, policies and structure for each
is compensated in a manner that reflects employee
his or her responsibility, performance,
and potential, while steadfastly Achieve sustainable and inclusive total rewards by 2030:
upholding our commitment to equality. - Integrate variable pay with Company ESG performance
Our approach disregards distinctions - Provide a comprehensive Employee Life Benefits Scheme covering major
based on gender, age, class, ethnicity, life events such as retirement, health, life, parental, disability schemes, or
religion, sexual orientation, among equivalent
others, focusing instead on the value and
contributions of each individual. In 2023, • Implement a sustainable mobility policy by 2030 to enhance employee
we took a significant step forward in this well-being and reduce environmental impact
endeavor by launching global
frameworks specifically designed for our
Operators community, empowering our
countries to gear up for implementation
starting in 2024.

Sustainability Good
GRI 2-25 GRI 3-3
Heritage
We believe that by harmonizing innovation with tradition, we can provide our customers
and consumers with a genuinely unique and authentic food experience, all while
preserving the rich heritage and craftsmanship of the industry.
Our passion for craft, authenticity, and Sourdough heritage

diversity has led us to launch a number of Preserving the heritage of sourdough is
exciting projects aimed at preserving the vital not just for its unique taste and
heritage of ancient bread- and traditional significance, but also because
chocolate-making methods. For it connects us to a rich history and
example, our Sourdough Library plays a reflects a commitment to the
key role in the preservation and renewal craftsmanship and authenticity that
of natural fermentation techniques, define our approach to baking.
allowing us to continue creating
authentic and delicious breads for
generations to come. Our long-term objectives Key Performance Indicators
Simultaneously, our commitment extends
to safeguarding the heritage of Belgian • By 2025, register 5,000 sourdoughs In 2023, we have 148 sourdoughs in
chocolate, ensuring the preservation of in our digital library on the Quest the sourdough library at Sankt Vith
its unparalleled taste, and protecting For Sourdough website. from 31 countries.
148
specific old varieties of cocoa.
• By 2030, register 10,000
sourdoughs in our digital library
and conduct research to better
understand its biodiversity and
importance. We have almost 3,000 sourdoughs
registered in our digital library on the
Quest For Sourdough.
3,000

Sourdough Library • Safeguard the heritage of baking. 2024 will mark the inception of the
Central to this commitment is our Each sourdough is thoroughly Sourdough Institute—a groundbreaking
Sourdough Library, a not-for-profit documented, capturing its origin venture that will blend physical and
initiative. A physical and digital haven for story, age, creator, and its role in online spaces, elevating the Sourdough
thousands of sourdoughs, enabling us to crafting distinct breads. It is a Library to new heights. From e-learning
explore the vast biodiversity of natural dedication to the human stories and platforms to immersive masterclasses, we
fermentation globally. This world’s only craftsmanship behind each loaf. are not just preserving heritage; we are
Sourdough Library, based in Sankt Vith, • Offer a lifeline to the sourdough actively reviving the ancient craft of
Belgium, is driven by three core community. Regularly fed and backed sourdough-making. As part of this
objectives: up, each sourdough sample becomes initiative, our Quest for Sourdough
• Actively preserve the biodiversity of a safety net. This practice has already website will offer enthusiasts a platform to
sourdough. Preserving them at -80°C, proven invaluable, as exemplified by register their sourdough, fostering a
dominant strains of microorganisms a situation where we provided a global community of bread enthusiasts.
are isolated, identified, and frozen, replacement for a Danish sourdough
ensuring the continuation of these owner.
natural fermentation wonders.
A journey through ancient traditions

Every year, our Sourdough Librarian, Karl De Smedt, embarks on his
Quest for Sourdough. This involves delving into the narratives and
cultural nuances behind some of the library's sourdough treasures. This
year, his journey led him to the ancient landscapes of Greece,
specifically Mount Athos, where he uncovered a sourdough uniquely
blessed with a fragment of the true cross of Jesus. The belief? That this
divine touch elevates the sourdough to unparalleled fermentation
power.
While in Greece, Karl encountered Father Damaskinos from Finland. This

time, the focus shifted to unraveling the traditions about rye breads in
Finnish culture. Father Damaskinos generously shared his expertise,
revealing a special method of sourdough preservation. In this age-old
practice, wood vessels play a pivotal role – leftovers are left within, later
melded with water to birth a starter, preserving the essence of tradition
in every loaf. The Quest for Sourdough continues, uncovering tales and
techniques that exceed borders and bind us through the universal
language of sourdough.

Sustainability Good
Mexican cocoa Heritage

In Comalcalco, a city located in the state practices and Puratos' long-term
Our long-term objectives of Tabasco, Mexico, we acquired four presence via the Cacao-Trace program.
hectares where we installed our These beans will be processed in our new
collection, fermentation and drying factory next to our distribution center in
• By 2030, preserve the 5 native center. In cooperation with a local family Mérida, Mexico. The high quality cocoa
Mexican cocoa varieties in Pichucalco, Chiapas, we have mass will be sent from there to our
established another fermentation and chocolate plants in Tizayuca, Mexico,
drying center. For the past five years, this and to the USA, to produce Chocolante
facility has been sourcing all its raw with Mexican beans – and to Belcolade,
material (fresh cocoa) from 1412 farmers, Belgium to produce a Mexican origin
In 2008, Belcolade acquired a plot in fostering genuine trust through loyal chocolate.
Yucatan, Mexico and created the “Tikul
plantation”. On an initial surface of the
320 hectares, we planted 66,000
Criollo-type cocoa trees – one of the
oldest, rarest and finest varieties of Preserving the heritage of classics
cocoa. The main objective of the Tikul
plantation is to preserve the genetics of in patisserie
the ancestral Criollo cocoa, which now
represents less than 2% of world cocoa At Puratos, we embarked on a mission to research the rich stories behind the
production. Indeed, because of their low iconic classics in patisserie. It is our aim to honor and preserve the legacy of all
productivity and their high susceptibility these classic. We have currently collected the history of over 130 captivating
to diseases, Criollo cocoa trees have stories and our collection continues to grow, thanks to our collaboration with
been progressively abandoned in favor professor and historian N. Harwich. Based on our understanding of these
of Forasteros trees, which today authentic recipes, we develop products that make it easy to safeguard the
constitute about 80% of the world patisserie classics for the future.
production. What makes Criollo cocoa so
special is its low polyphenol content. But we don’t stop there.
During the fermentation process,
particularly mild flavors develop, To inspire our customers, we help them reinvent patisserie to answer to the
creating an exceptional chocolate. curiosity of consumers and rising global trends. Whether it’s through unexpected
There are seven ancient cocoa varieties texture combinations, sugar reduced ingredients or plant-based solutions – we
in Mexico cultivated, and we want to aim to help our customers in providing consumers with more creative, heathier or
preserve them using the model we more sustainable patisserie. Following these 4 pillars of our strategy, our Technical
created with our Sourdough Library by Advisors create inspirational recipes. These are collected in a recipe database.
maintaining the genetics present in living
Through this platform, recipes and inspiration can be shared with all our technical
trees in this case.
advisors around the world. Together with our global Technical Advisor community,
we aim to reinvent more than 150 recipes worldwide by 2025.
Our objective is to build the largest
Criollo plantation by planting more than
300,000 trees since we have acquired a Think of health & well-being by reducing
further 320 hectares of land. We’ve Create 'the very best classic' sugar content, by adding more fruit or
already planted 66,000 criollo-type according to the authentic recipe. by aiming for a clean label.
cocoa trees – a project that will provide
a wildlife sanctuary and contribute to
local environmental conservation and
biodiversity. 35 local families have been
working daily on the plantation for 15
years now to maintain this treasure. We
are deeply involved in every stage of the
cocoa-chocolate chain in Mexico, from
supporting farmers to producing
chocolate. The Tikul plantation not only
supplies some of the beans used in our
Aim to be more sustainable by
chocolate production but also serves as Get creative with unexpected flavor working with locally sourced
a site for experimentation and combinations, new textures or a ingredients, plant-based solutions or
knowledge sharing on cocoa cultivation, surprising visual appeal. Cacao-Trace chocolate.
benefiting local farmers.


Sustainability Good
GRI 2-25 GRI 3-3
Communities
We believe that contributing to the communities where we operate is essential. We invest

in sustainability programs that safeguard biodiversity and improve the living conditions of
local people, while sharing our knowledge and skills.
By focusing on education and community, as well as on social development, we aim to create more value for society by
addressing issues of inequality. This includes addressing disparities in access to educational resources, ensuring a living income,
and improving healthcare access.
In 2016, we established the Bakery School Foundation and Next Generation Cacao Foundation to maximize our impact in these
areas. The Bakery School Foundation provides quality education through Bakery Schools, while the Next Generation Cacao
Foundation aims to contribute to the social, economic, and environmental development of cocoa farmers and communities that
are part of our Cacao-Trace program. These programs have made a significant difference, and we continue to strive towards
creating a positive impact on the communities we serve.
Cacao-Trace centers close to cocoa farmers, expert

Puratos’s commitment to fermenters monitor and improve the
fermentation process. This ensures a
sustainable cocoa. consistent superior taste for chocolate
lovers, and more income for farmers.
While the chocolate industry focuses 2. Our unique Chocolate Bonus: Training
mainly on quantity and yield increase, and premium pricing for cocoa
our own sustainable cocoa sourcing farmers are part of our program, but
program, Cacao-Trace, goes beyond we are always looking for new ways to
and also focuses on creating benefits improve their lives. With the Chocolate
for everyone, through taste Bonus, we share the value of a higher
improvement. quality chocolate back: €0.10 per kilo
of chocolate sold, goes directly back
The program is unique on 2 points: to the cocoa farming communities we
1. Fermentation in post-harvest work with. And we apply complete
centers: Our chocolate is obtained transparency to this process, so €0.10
from the highest quality beans, collected, means €0.10 distributed. In
fermented and dried according to 2023, we paid out a Chocolate Bonus
strict guidelines. In our post-harvest of €2.4m.

The Next Generation Cacao Foundation

The Next Generation Cacao Foundation
guarantees to the farmers the payment Our long-term objectives Key Performance Indicators
of a quality premium and the unique
Chocolate Bonus of 10 eurocents per kg
of chocolate sold. The Next Generation • Increase the Chocolate Bonus In 2023, we collected a total bonus of
Cacao Foundation’s primary role is to collection every year, to reach €2.4m for our Cacao-Trace farmers.
€2.4m
distribute in an open and transparent €8m in 2030.
manner the Chocolate Bonus to the
cocoa farmers and their communities.
One of its key ambitions is to provide a
long-term positive impact on farmers Trees planted.
and on the quality of life for their families.
Looking forward to 2030, Puratos has the
ambition to double its Chocolate Bonus
collection every two year, to reach €8m.
2.4m
199,302
School projects initiated.
The foundation’s objectives are very
much intertwined with Cacao-Trace
ambitions on the collection of the
Chocolate Bonus as it constitutes the
12
2m
entire source of its funding today, mainly Water equipment set up.
through Belcolade sales.
In 2023, the Chocolate Bonus increased,

which allowed the foundation to
46
maintain its strong level of development. Street lamps installed.
The distribution of the Chocolate Bonus

through the foundation is divided into
two categories: community projects in
20
rural areas or cash contribution for
individual farmers. The Next Generation
Cacao Foundation is active in very 1m In 2023, we have distributed 10% of the
diverse locations such as Cameroon, Chocolate Bonus in cash. The rest was
Ivory Coast, Congo, Mexico, Papua New allocated to projects such as
Guinea, Philippines, Uganda, and construction of essential infrastructures
Vietnam. such as primary schools, water pumps,
street lightning.
500k
446k
Read more in Cacao-Trace & Next
288k Generation Cacao Foundation
Annual Report 2023: www.puratos.
174k com/commitments/next-
123k
generation/better-planet/
2016 2017 2018 2019 2020 2021 2022 2023 responsible-sourcing#Cocoa

Sustainability Good
Testimonials
“The new school building is going

to make a big difference. Right
now, bad weather often means
we have to stop classes,
especially from March to June in
the rainy season, so it's tough to
finish the program. Our current
classrooms are too small, and we
have kids squished together at
desks meant for two. It's not
comfortable for them to work.
Plus, with the open layout, the
Testimonials
little ones get easily distracted. Vincent-de-Paul Koua Bouaffou,
“We asked for a huller and a The new primary school building Assistant director of N’zidrikro
grinder, in particular to husk is going to fix all of that.” primary school
rice and grind manioc to
prepare our national
specialty: attiéké. Attiéké is
usually pounded by hand,
which is very time-consuming
and tiring. Rice also tastes
better when husked by the
machine. Thanks to this
equipment, we can now offer
this as a service to the
surrounding villages.”
Gisèle Gbangbo Adjoua, President

of the Women's Association of Parc
The Bakery Schools Foundation
• By 2030, have 1,000 students in In 2023, 98 students graduated from End 2023, 515 students were enrolled
the program on a permanent Bakery Schools worldwide: in the program
98 515
basis.
• Open at least one new Bakery

School every year. • 13 in India
• 23 in Brazil
• 12 in Mexico Two new schools opened in
• Find job placements for all El Salvador and Vietnam
• 24 in South-Africa
2
graduates
• 8 in Romania
• 18 in Philippines
The Bakery School Foundation was companies in the food industry. Since We believe that investing in education is
established in 2016 with the aim of 2016, we have opened 12 Bakery Schools one of the best ways to empower people
providing quality education to young in 11 countries. In 2024, we aim to open 3 and communities, and to make a
people in the bakery, patisserie, and more schools in Turkey, Ethiopia and the tangible impact on society. By providing
chocolate sectors, particularly those from Dominican Republic. access to high-quality training and
disadvantaged backgrounds. education, we are not only helping
Our objective is to open a new Bakery young people to build better futures for
As a global leader in the sector, we are in School every year and to have 1,000 themselves and their families, but also
a unique position to offer students the students ongoingly enrolled in our supporting the growth and development
means to learn high-quality skills from schools around the world, helping us to of the industries we serve.
best-in-class faculty members, as well as positively impact more lives.
the opportunity to be hired by

Mission
to Mars
Mission to Mars
The discoveries of this program have the potential to revolutionize food production and
minimize our environmental footprint. We’re excited to continue this journey towards a
more sustainable future for all.
Puratos’s Mission to Mars program is a while minimizing our environmental innovative solutions to grow crops and
journey towards a more sustainable impact. This program is inspired by the bake bread on Mars, we could apply
future. With our planet facing pressing extreme conditions on the planet Mars, those same principles to help feed
environmental challenges, we knew we where resources are scarce, and the people on Earth sustainably.
had to think outside the box to find new environment is inhospitable to most life
solutions to feed a growing population forms. We knew that if we could develop

Sustainability Good
using only lava as a solid substrate, the storage space of traditional dough
resulting in high mineral and protein conditioners.
content.
The Mission to Mars program has taught
But it wasn’t just about growing wheat. us that the journey is as important as the
We also needed an efficient leavening destination. By developing solutions to
agent to make bread. While yeast grow food and produce bread on Mars,
factories are not available on Mars, we we’ve discovered new ways to minimize
discovered that sourdough offers a our environmental impact on Earth.
unique solution. A stable and robust We’re 10 times more efficient in recycling
population of micro-organisms in nutrients and lowering the use of nitrogen
sourdough allows us to produce bread and other fertilizers. And with our closed
with high and constant quality, biosphere system, we don’t even use
regardless of the flour harvest conditions. pesticides.
When it came time to bake the bread, This program is not just about feeding
we knew we had to do so efficiently. We future space travelers; it’s about feeding
investigated different technologies, such a growing population sustainably on
as microwaving, to use energy in the Earth. Our innovations in growing wheat,
most efficient way possible. We even using sourdough, and developing
developed a new product, Cubease, a efficient baking technologies have the
small cube with a big impact, providing potential to revolutionize food production
outstanding dough tolerance and and minimize our environmental
strength while taking up only a fraction of footprint.
Bringing Benefits to Earth

Each experiment has great potential for life on Earth.
Growing wheat using less water like straw, chaff, and bran so as to
With less rain and more drought, the minimize waste and promote a circular
usage of water is under pressure. Through economy by continuously reusing
our hermetically closed system and resources.
vertical agriculture, we are able to grow
wheat reusing 95% of the water. This Accelerating harvest times and
technology could also be used in densely increasing yields
populated areas of Earth where In the closed biospheres, we’ll be able to
farmland is not always available, or in investigate and optimize the growing
regions with extreme temperatures. conditions of plants. This could lead to
faster harvests, higher yields, and a more
Our journey began with the challenge of Lowering the use of nitrogen and qualitative crop – with more efficient use
growing wheat on Mars. With no fertilizers of nutrients and no losses due to insects
atmosphere, extreme temperatures, and Today, farmers apply nutrients on their or plant pathogens.
dust storms, the Martian environment fields in the form of fertilizers, which
was not conducive to crop growth. So we provide crops with the nitrogen and Testing new, emerging crops
built a fully controlled biosphere that phosphorus they need to grow. However, To make bread more nutritious and
could accommodate a small team of when nitrogen and phosphorus are not diversified, we will investigate the
researchers. This closed and self- fully absorbed by the plants, they can possibilities of new, emerging crops. More
sustainable system allowed us to create negatively impact the soil and water knowledge about these plants, which
the perfect climate for growing wheat, quality. We believe we can be 10 times can grow in extreme conditions, could
using only a fraction of the water usually more efficient, and lower the use of help improve breads made of local,
required and being very efficient with nitrogen and other fertilizers– exploring stress resilient and sustainable crops in
fertilizers. We even produced wheat how to reuse the by-products we create Africa and other regions.

Good
Governance

Sustainability Good
GRI 2-26
Puratos’s Governance Structure
Puratos Group implements best practices in terms of

corporate governance. Our processes are governed by
our corporate governance charter or our chart of
authority, which we update regularly to reflect the state of
the art. In line with those best practices, our board of
directors is composed by representatives of the family and
independent members.
Remuneration and Nominating Committee

The Remuneration and Nominating Committee was established in 2001. It deliberates
on proposals for compensation of employees, director nominees, and proposals for
the election of directors, and reports the results to the Board of Directors.
Audit Committee
The Audit Committee was established in 2004. It works with an external auditor and
our internal audit department to conduct audits on the day-to-day activities within
our different subsidiaries.

Good Governance continued GRI 2-24
circular and climate-positive business. initiatives and plans to fulfill our

Sustainability • The alignment of our sustainability sustainability strategy. In 2023, Scope 3
requirements – for example those Steerco was established inter alia in order
Governance included in our Code of Conduct. to work towards our commitment to
extend our climate ambitious goals to
The Puratos sustainability strategy is built The CSR committee meets four times a the Scope 3 emissions and setting our
on our purpose: We move the planet year, where members of the third targets throughout Science-based
forward by creating innovative food generation of shareholders, members of Targets initiative.
solutions for the health and well-being of the Group Executive Committee, the
people everywhere. It comprises three Group Sustainability Director and an In 2023, Puratos extended the
pillars – Better Health, Better Planet and external partner meet to advise and Sustainability Team to 3 full time
Better Life – outlining our ambitions and challenge our strategy and approach. employees, dedicated to the Puratos
commitments, creating a common Global sustainability Strategy. The team is
agenda for the Group and providing a The Future Generations Steerco was responsible to oversee, and drive new
focus and collaboration for everybody to created in 2019 and brings sustainability and existing initiatives in pursuit of our
contribute to a positive impact on experts from different departments and ambitious goals. We also have
people, society and the planet, across different regions together. The Steerco sustainability champions worldwide,
the value chain. gathers on a regular basis to share whose main task is to embed
progress on meeting targets, explore sustainability into their subsidiaries. They
We’re committed to working together in opportunities to drive further progress, are the first point of contact regarding
a collaborative way, being transparent discuss new projects, ideas and sustainability questions, cascading them
about what we learn, and always innovations, identify new and emerging further down the organization, while also
improving our ways of working. risks and opportunities, and share insights acting as the voice of their region or
from external stakeholders and peer department by bringing relevant topics
Our CSR Committee, founded in 2021, companies. They also share information to the attention of others.
ensures that we share the same values with employees throughout the Group.
and approaches across the Group. It Sustainability objectives have been
focuses on: Experts on specific topics meet in linked to our bonus structure for the last
• Puratos’s role in society. working groups to share best practices five years, on top of financial indicators
• Strategic decisions and ambitions, and build knowledge through the and personal performance.
such as always respecting human Puratos value chain. These working
rights, and our ambitions to become a groups discuss and align strategic
Board of directors
Oversees sustainability strategy and reviews progress.
CSR Committee Group Executive committee

Advise and challenge sustainability strategy
Deliver sustainability strategy at a business level.
and approach
Future Generations Expert Working Group Sustainability Sustainability

Steerco Groups Team Champions
Track progress, explore Share best practices and Coordinate and drive Embed sustainability into
opportunities, discuss build knowledge to fulfill initiatives to reach our their subsidiaries
new projects, asses risks strategy. ambitions
and opportunities, share
insights and
communicate with
employees across the
Group.

Sustainability Good
GRI 2-9 GRI 2-11
Group Structure
Board of Directors Presentation of the Executive Committee Health & Well-Being department, and
The Board of Directors is composed of 13 The Executive Committee is organized most recently holding the role of the
members and is chaired by M. Cédric as follows: Sourdough & Grains Business Unit
Van Belle. • 5 markets Director, was appointed Chief Marketing
• 3 strategic business units (SBUs) Officer as of 1 January 2024. Peter
12 of these 13 directors are not part of the • A Channels department (artisans/ Deriemaeker replaced Sophie Blum ad
Group’s operational management. Five distributors, large accounts, interim in the role of Chief Channels
are independent of the majority chocolatiers) Officer in 2023 and was appointed
shareholders, all of whom are external. • Supporting roles officially to this role as of 1 January 2024,
changing the name to Chief Sales &
In September 2023, Sophie Blum, Chief Customers Officer. Edouard Pot, who
Marketing and Channels Officer, left the joined the Group 13 years ago, leading
Group. Frederik Lievens replaced her ad sales in France, serving as a General
interim in the role of Chief Marketing Manager of Puratos Canada, and most
Officer until the end of 2023. Laurence recently Regional Director of the
Herbert, who has been with Puratos for 14 Emerging Markets of APMEA, was
years, first as a Product Manager in appointed President of Asia Pacific –
Bakery and Patisserie Strategic Business Middle East – Africa as of 1 January 2024.
Units, then creating and leading the
Group Structure1
C. Van Belle
Chairman of the Board Of Directors
P. Tossut
CEO
Asia-Pacific Southern Northern & North South

ME Africa Europe Eastern Europe America America
E. Pot E. Valls O. Tilkens P. Bakus G. Bourneau
Finance, ICT, Legal

Products
& Sustainability
F. Lievens
J-P. Michaux
Chief Marketing
Human Resources
Officer
S. Streydio
L. Herbert
Chief Sales &

Operations
Customers Officer
C. Frontini
P. Deriemaeker
R&D
P. Baisier
1 - as of January 1st, 2024

Good Governance continued GRI 2-23 GRI 2-24
GRI 2-25 GRI 3-3
Corporate Governance Policy Human Rights Data protection

Any association with corruption, illegal The protection of human rights is one of Puratos Group highly values its
conduct, fraud, or any other unethical Puratos’s core values, and this is reflected relationships with its customers,
behavior goes against the values we both in our internal commitments to our distributors, employees, job applicants,
expect to guide every employee, and employees and in how we do business. suppliers, visitors, and other stakeholders.
could have a negative impact on our All employees, without distinction, have The Group aims to provide an adequate
reputation, on our employees, and our the right to join or form trade unions, and level of personal data protection to
business relationships. Puratos has taken we will always seek to align the interests enhance its business relationships,
several measures to strengthen its internal of all stakeholders and endeavor to trustworthiness, and its reputation.
controls, with the aim minimizing the risks avoid social conflicts. For confidentiality Connectivity, digitalization and the
of unethical behavior. reasons we cannot disclose how many ability to process large amounts of data
employees are part of trade unions. are becoming increasingly important.
Puratos has a Corporate Governance While the availability of data creates new
Policy which is regularly reviewed and Our Ethic Committee meets four times a business opportunities, we also have an
improved. Violations of this policy will year to discuss ethical issues and how to obligation to take special precautions
lead to disciplinary actions in handle them. The Ethic Committee when collecting and processing it.
accordance with our rules and comprises our Legal Director, Human
regulations. Resources Director, Finance Director, Data is a sensitive commodity worthy of
Audit Director, and a member of the the protection offered by a strict
Business ethics and Code of Conduct Board. regulatory framework. Data responsibility
Integrity and ethics are an important involves more than just data protection,
part of decision-making at Puratos, and Whistleblowing and complaints so Puratos opts for a holistic approach to
we stay true to our conscience, We operate according to the highest ensure we meet our corporate digital
maintaining our professional standards, ethical values, and our commitment is responsibility obligations.
honoring our commitments, and assuring represented in our company symbol, the
absolute food safety. For all those unicorn, which represents both integrity Along with compliance with relevant
reasons, and in accordance with and courage. Ensuring we uphold the laws and regulations, various measures
evolving European legislation, we have highest standards of integrity is the key to are undertaken to achieve these
an online Ethics Portal – ‘Speak Up’ success in everything we do. objectives – including everything from
– available for our employees in 40 employee training to the introduction of
languages. Despite our best efforts, conduct that a new management approach, and the
violates the law, our Business Ethics and extensive provision of information to our
Updated in 2023, our Business Ethics and Code of Conduct policy, or our company customers.
Labor Code of Conduct outlines our policies, may occasionally be observed.
values, principles and guidelines in a In such cases, we encourage employees Anchoring data protection
variety of areas, particularly in how we and third parties to speak up – giving us in our organization
conduct business activities. It also the opportunity to investigate the issue – Puratos has a Data Protection Team,
describes our anti-corruption efforts – and do not tolerate any form of which includes members from ICT and
specifically, that Puratos prohibits all retaliation against an individual who Legal. The Team developed our Data
forms of bribery, corruption, extortion, reports a concern in good faith. Protection Policy and strives to implement
embezzlement, money laundering and and maintain compliance with national
insider trading – and details our policies Remaining silent about potential and international data protection rules.
regarding secrecy and confidentiality, misconduct may worsen a situation and
reporting and non-compliance, negatively impact the trust people place The Team coordinates cooperation with
infringements and sanctions, as well as in us as an organization. It’s therefore supervisory authorities and acts as a
relationships with suppliers, customers, essential for us to safeguard our people contact point for dealing with their
officials, colleagues and employees. and our reputation, protect our interests, requests and delivering information. The
and ensure we’re in the best ethical Team supervises the monitoring of
Mandatory training on ethical behavior position to remain successful. compliance with this policy and may
and cyber security is organized on a perform regular checks, reviews and
regular basis to support the development All reports are strictly confidential, and audits of documents, procedures, and
of a culture that is conducive to good concerns can be raised through a variety operations.
corporate governance. of channels including through our Speak
Up portal. Members of the Team receive
appropriate resources, training and
guarantees of independence to ensure
that the Team is able to manage tasks
effectively.

Sustainability Good
Comprehensive data protection training

Data Protection Policy The executive bodies of each Puratos Puratos entities and their employees must
Our Data Protection Policy applies to entity, and department managers, are take sufficient technical and
the processing of personal data by the accountable for the processing organizational measures to protect
entities of the Group. We consider activities in their area of responsibility. personal data from accidental or
personal data any information relating They commit to effectively unauthorized destruction, accidental
to an identified or identifiable living implementing the appropriate loss, unauthorized modification, or
natural person, including biographical technical and organizational access. These measures must be
information (such as names and dates measures to ensure compliance with adequate considering the state of the
of birth), workplace data (such as the applicable laws and with this art, the cost, and the nature of the data,
addresses, position, phone numbers Policy. They must closely co-operate and must be evaluated and tested at
and email addresses), and online with the Data Protection Team to regular intervals.
identifiers (such as IP addresses). achieve an adequate level of
protection and to effectively handle Security and confidentiality require
The Policy comprises generally the requests of supervisory authorities measures to enhance awareness of data
accepted data protection principles, and data subjects. They ensure the protection issues in the organization –
complementary to local laws. It Data Protection Team is duly informed such as, for example, training of all
supplements the different national of data protection incidents and new functions confronted with personal data
data protection laws that apply to the or extended processing activities and allocation of responsibilities.
operations of the Group. Each Puratos – especially when they involve Techniques such as data minimization,
entity commits to fully complying with sensitive categories of personal data storage limitation, pseudonymization,
the applicable national data or are likely to pose serious risks to the encryption, confidentiality, integrity, and
protection laws and with this Policy. If rights and freedoms of individuals. logging must be taking into
there is reason to believe compliance consideration when dealing with data
with legal obligations would contradict Breach of data protection rules may processing operations.
obligations under this Policy, the be criminally prosecuted in various
Puratos entity concerned shall inform jurisdictions and may result in Training on cyber security awareness and
the Data Protection Team to find a damages claims. Breaches for which data protection is mandatory for all
practical solution that meets the aim individual employees are responsible employees worldwide. Training is
of our Policy. may lead to sanctions under available in different languages and can
employment law. be reviewed whenever is necessary.
The Policy does not apply to the data
of legal entities or to anonymous data The most recent version of this Policy is Data protection incidents
(such as statistical data). However, the externally available on the Puratos All employees must inform their
mere absence of a name does not corporate website and internally on a department manager and the Data
imply that the data is anonymous – it dedicated section of the Puratos Protection Team immediately when
should be impossible to trace intranet. becoming aware of a violation of the
anonymous data directly or indirectly Data Protection Policy, or of a security
to an individual person. incident that could involve a personal
data breach – in accordance with the
applicable procedure.

Appendix

Sustainability Good
About this report

GRI 2-2 GRI 2-3 GRI 3-2
The purpose of this report is to communicate and convey

detailed information about our material topics and our
societal and environmental impacts to our shareholders
and stakeholders. It is intended to present our sustainability
strategy and approach in line with the 17 Sustainable
Development Goals (SDGs) of the United Nations. The
report has been prepared in accordance with the GRI
Standards: the Core option, for the 2023 calendar year.
Both our financial operations and our Materiality assessment

non-financial performance
(environmental, nutritional, occupational GRI 2-29 GRI 3-1 GRI 3-2
health, and safety aspects), as presented
in this report, have been audited by Our most recent materiality assessment
Deloitte, whose auditors’ report is was conducted between June and
included. We have also received a December 2021, facilitated by an
limited assurance statement, which can external partner, and the next
be found on page 77, showing our assessment is scheduled for 2024. This
stakeholders that Puratos’s business comprehensive evaluation, detailed in
operations are in line with our pages 9 and 64, involved a thorough
sustainability commitments. consultation process with stakeholders
and management through surveys and
Scope of the report interviews.
The information presented is drawn from
the 2023 fiscal year, comprising the 12 The outcome of this assessment was the
months starting January and ending identification and prioritization of 17 key
December of that year. It focuses on the topics, with 6 topics as (very) high
17 material topics identified during the materials:
2021 materiality assessment which • Greenhouse gas emissions
influence the decision-making of our • Healthy, natural and nutritious
stakeholders most. products
• Environmentally friendly products and
The report’s scope is Puratos Group NV sustainable ingredients
and its subsidiaries including those • Transparent and responsible sourcing
abroad. • Sustainable and circular packaging
• Responsible and ethical business
An English, French and Spanish version of conduct
this report has been published on the
Company’s website: www.puratos.com. To ensure a comprehensive evaluation,
If you have any suggestions or concerns, we engaged a diverse selection of
you may contact our sustainability team internal and external stakeholders,
via sustainability@puratos.com. including suppliers, customers, non-
governmental organizations (NGOs), and
public authorities. Furthermore, the entire
executive committee, including our
former CEO Daniel Malcorps and current
CEO Pierre Tossut, actively participated in
the process through interviews and
consultations.
Our commitment to ongoing

improvement extends beyond the
assessment period. Throughout the year,
we continuously monitor and reassess the
priority of our high-material topics. This
evaluation takes place during various
forums, including our CSR Committee,
Future Generation Steerco, board and
Group Executive Committee meetings.

Materiality
assessment
The following tables give an overview of our very
high and high material topics, as well as all other
material topics and how they relate to our
commitments to health and well-being,
responsible sourcing, environment, heritage,
people and communities.
High Material Topics
Material issue Definition Commitments
Greenhouse gas Reducing greenhouse gas emissions from our operations, buildings
emissions and transport, by improving our energy efficiency, by generating and
purchasing renewable energy, and by offsetting our carbon footprint.
Healthy, natural and Offering healthy, natural and nutritional products by innovating
nutritious products continuously in order to remove or reduce unnecessary and/or unnatural
ingredients from or finished products (such as additives, preservatives,
artificial colors/flavors, and so on), and to develop more plant-based
and gluten-free products, reducing the sugar, fat and salt content while
increasing the content of cereals and fruits in our products and recipes.
Environmentally friendly Offering environmentally friendly products made from sustainable

products and sustainable ingredients by innovating continuously to improve the environmental
ingredients impact of our products, and by sourcing ingredients from suppliers
respectful of the environment, fauna and flora (for example working in
responsibly managed areas not contributing to the loss of biodiversity
and soil and forest degradation, taking into account palm oil issues, and
so on).
Transparent and Ensuring responsibility and ethics in our supply chain by having our
responsible sourcing suppliers sign our Code of Conduct and comply with our commitments
regarding human rights, forced and child labor, living income, and
animal welfare, and improving the transparency of our organization and
products by promoting the traceability of our ingredients and the correct
and honest labelling of our products.
Sustainable and circular Puratos is committed to reducing its packaging as much as possible by
packaging developing and adopting packaging innovations (for example more
efficient packaging), as well as to making all of its packaging recyclable
or reusable in order to contribute to a circular economy.
Responsible and ethical Conducting business in a responsible and ethical way by adopting a
business conduct zero-tolerance stance against bribery and corruption, by considering
the impact of societal and environmental challenges (such as effects
of climate change, health and demographic shifts) on our business and
in our strategic decisions, and by ensuring the data we collect, share
and use is governed in a responsible and structured way and is protected
from external and internal attacks.
Very high materiality Our Commitments

High materiality
Medium materiality
Low materiality
Health & Responsible Environment Heritage People Communities

Well-Being Sourcing

Sustainability Good
Other Material Topics
Material issue Definition Commitments
Food quality and safety Ensuring the quality and safety of our finished products by innovating
continuously among other means.
Food waste Reducing food waste in our production as well as among our customers
and consumers by developing and adopting product and process
innovations (such as developing ingredients able to prolong the shelf
life of our products).
Employee health, safety Ensuring our employees work safely and are in good physical and mental
and well-being health by caring for and educating our employees and providing health
insurance for them and their families.
Employee diversity, Offering the same opportunities to all employees, irrespective of their
inclusion and equal age, nationality, gender, sexual orientation or religion, to ensure our
opportunities employees feel a sense of belonging and support, as well as promoting
women’s sense of self-worth, ability to make their own choices and right
to influence social change.
Water stewardship Reducing our wastewater by implementing sustainable water

management in our activities, by ensuring our wastewater poses no risks
to aquatic life downstream, and by supporting water management
initiatives in water-stressed areas.
Community engagement Becoming a long-term partner to the communities in which we operate,

and development by sharing knowledge and skills, and investing in programs to safeguard
biodiversity and improve local living conditions.
Healthy, natural and Increasing the awareness of healthy diets and malnutrition (including
nutritional diet awareness over-nutrition and under-nutrition) among consumers and employees,
by organizing campaigns about products or ingredients and by giving
our products a nutritional score.
Thought leadership and Being a thought leader and preserving the traditional ways of making
preservation of food bread, cakes and chocolate, in order to serve our customers and
culture consumers in the best way possible – now and in the future.
Products and ingredients Ensuring the resilience of our products and ingredients by considering
resilience the impact of societal challenges (such as the consequences of climate
change, pandemics, and so on) on the supply of our ingredients and in
the specificities of our products, and continuously innovating to adapt
our products to these challenges.
Non-food waste Reducing our operational waste by increasing awareness among our
employees and optimally sorting and recycling our waste.
Employee learning and Ensuring our employees can continuously learn and develop themselves
development by providing them with educational programs.

Stakeholder
engagement

Sustainability Good
GRI 2-29
Puratos regularly engages with a diverse set of stakeholders as well

as with an equally diverse set of interests and motivations. Our
stakeholder network ranges from people we interact with on a
regular basis to those in public sectors who influence our activities.
They include communities, consumers, customers, employees,
government, investors & shareholders, NGOs and suppliers.
By interacting regularly with our stakeholders, related to environmental, social and

we are able to understand and prioritize governance risks.
sustainability related risks and to formulate
adequate responses to emerging challenges. We selected stakeholders along our entire
value chain, taking into account the impact we
The materiality assessment helped us identify have on them and the potential impact they
and prioritize the topics that our stakeholders have on us.
value as most important, including those
Our stakeholders Issues Puratos’s responses
Communities Social and environmental responsibilities. Climate change and environmental protection.
Partnership in community development. Support local communities.
Consumers Eco-labeling; Innovation and product responsibility

Affordable pricing; (quality, food safety).
Food safety.
Product quality (health and nutrition); Responsible sourcing;

Social and environmental responsibilities. Climate change and environmental protection.
Customers Product quality; Innovation and product responsibility (quality,

Food safety; food safety);
Service quality; Increased communication on sustainability;
Affordable price; Responsible climate change and environmental
Social and environmental responsibilities. protection.
Eco-labeling. Responsible sourcing.
Employees Fair compensation and benefits; Human rights and fair labor practices;
Fair labor practices; Human capital development.
Safety and well-being.
Career development and opportunity; Management program.

Career security.
Work-life balance. Engagement survey.
Government Legal compliance; Transparency and governance (anti-corruption,

Participation in government programs. data disclosure, tax policy and reporting).
Puratos
Puratos
Sustainability
Integrated Report 2022
2023 67
Environmental Data Summary GRI 2-25
Year 2016 Year 2023

GRI Indicator in MWh (MWh) (MWh) Explanation
GRI 302 Energy
GRI 2: General Disclosure

Fuel Natural gas 214,697 280,287 Only in 1 production site in Belgium (Groot-Bijgaarden) where there is
heat generation with natural gas. Everywhere else natural gas is used
to generate steam.
Liquefied Petroleum Gas 10,182 7,450 LPG is used in 10 countries to generate steam
(2 of them stopped using LPG during the year, 1 switched to Natural
Gas and the other one stopped using LPG thanks to heat pump
system).
Gas and diesel oil 20,904 25,225 Gas and diesel oil is used in 1 production plant in Saint-Vith (Belgium) to
generate heat. In 9 other countries it is used to generate steam.
Residual Fuel Oil 3,886 2,635 Residual fuel oil is only used in Morocco to generate steam.
a. Total Non-renewable 249,670 315,597
fuel consumed
b. Total Renewable 0 1,197
fuel consumed
Electricity Non-renewable electricity 147,319 0
Renewable electricity 0 12,857 Production of renewable electricity on site since 2020 in Malaysia,
on-site India, since 2021 in South Africa, Vietnam, Thailand, Turkey, Greece and
Belcolade, since 2022, and since 2023 in Andenne (Belgium), Bulgaria,
Sils (Spain), Honduras, Parma (Italy), South Africa.
Renewable electricity 0 168,999 100% of the electricity imported in 2023 was renewable. It was
imported purchased through green certificates or thanks to a direct contract
with the electricity supplier.
c. Total electricity consumed 147,319 181,856
District Non-renewable district 496 2,199 Austria and Hungary district heating for building heating.
Heating heating
d. Total District Heating 496 2,199 Austria and Hungary district heating for building heating.
consumed
Energy Total Non-renewable 397,485 317,795
energy consumed
Total Renewable 0 183,053
energy consumed
302-1 Total Energy consumed 397,485 500,846 4.2% increase in total consumption in 2023 compared to 2022. In the
meantime, the production volumes increased by 4.9%. Energy
efficiency has increased.
Year 2016 Year 2023

GRI Indicator in MWh (MWh) (MWh) Explanation
GRI 302 Energy
Energy intensity (302-3)

Energy Fuel intensity from Stationary 100 93.13 Energy intensity target and progress made as Metric tons CO2e per
intensity combustion standard unit of production which is then normalized using 2016 base
year emissions.
Electricity intensity 100 86.89
This encompasses the use of electricity, fossil fuel, natural gas, light fuel,
302-3 Total Energy Intensity 100 91.11 LPG.
Primary To calculate the normalized year energy we took our internally
standard energy per technology (based on product mix and
production requirements). This way it is ensured that efficiency will be
truly improved in our own operations. Corporate results are the sum of
individual results from each production site.
2016: reference year : Index is 100.
2023: Index is 91.11.
When comparing 2016 and 2023, we observed a decrease of 5.5% of
our energy intensity.

Sustainability Good
Reduction of energy consumption (302-4)

Energy Reduction of fuel -5,107 MWh Puratos aims to consume less energy per tonne produced. The
reduction consumption from reduction of energy consumption reported here is the direct result of
Stationary combustion our improved energy efficiency compared with 2016, multiplied by our
actual energy usage. Whereas our total corporate energy use has
Reduction of electricity -1,409 MWh
increased due to business growth, this figure shows how much we have
consumption
saved compared with what we should have consumed, adjusted to
302-4 Total Energy Reduction -6,531 MWh out increased business activity. This energy reduction is the result of
Primary several initiatives on each site. It is part of our reduction strategy based
on 7 pillars: production of renewable energy on site, good house
keeping, process optimization, utility optimization, and energy saving
initiatives such as utility optimization, energy integration and awareness
behavior change.
Indicator in tonnes of Year 2016 Year 2023

GRI CO2 equivalent (tCO2e) (tCO2e) Explanation
GRI 305 Emissions
Scope 1 Direct GHG emissions (305-1)

Scope 1 Stationary combustion 48,065 60,322 We use WRI methodology from The Greenhouse Gas Protocol: A
Corporate Accounting and Reporting Standard (Revised Edition). We
Transport 18,265 18,110
use the tool "GHG emissions from stationary combustion v4.1 (May
Refrigerant not not 2015)", using UK Conversion factors 2022 for Transport (cars and trucks).
relevant relevant Concerning the annual refrigerent gas leakage in 2022 (most recent
data available), we considered a sample of production sites with
305-1 Scope 1 Direct Emissions 66,330 78,432 different capacity. Out of 7 production sites that represent 13% of the
whole production of Puratos, the gas leakage weighed for 329 tCO2.
On the scale of the whole group, the fugitive emissions would represent
2,466 tCO2, which means around 2% of the scope 1&2 emissions.
Scope 2 Energy Indirect GHG emissions (305-2)

305-2-a Scope 2 Location-based 40,802 45,076 We use WRI methodology from The Greenhouse Gas Protocol: A
Gross Electricity Corporate Accounting and Reporting Standard (Revised Edition). We
use the market-based method defined by the GHG Protocol’s Scope 2
Purchased Renewable 0 44,588
standard and we used the market-based method emission factor
Electricity Certificates
hierarchy and the location-based method emission factor hierarchy.
305-2-b Scope 2 Market-based 40,802 489 We used local grid emission factors since supplier-specific emission
Net Electricity factors were not available.
100% of the electricity imported in 2023 was renewable (apart from
district heating). It was purchased through green certificates or thanks
to a direct contract with the electricity supplier.
Total Gross Operations 107,132 123,508 4.2% increase in total consumption in 2023 compared with 2022. In the
Emissions meantime, the production volumes increased by 4.9%. Energy
Net Operations 107,132 78,920
Scope 1 & 2 efficiency has increased.
Scope 3 Other Operations Indirect GHG emissions

(305-3)
305-3-1a Optional: Water supplied 660 392 Calculated third-party emissions from water supply and water
treatment for water disposed of via the drains. Source: UK Government
Conversion Factors 2022 for greenhouse gas (GHG).
305-3-3b Transmission and 14,390 19,533 Calculated upstream emissions of purchased electricity from location
distribution losses based using national correction factor for transmission and distribution
losses induced emissions. Source: IEA - CO2 emissions from fuel
combustion 2023 Edition.
Calculated upstream emissions of district heating from location based
using national correction factor for transmission and distribution losses
induced emissions. Source: IEA - CO2 emissions from fuel combustion
2023 Edition.
Calculated well-to-tank fuels to account for the upstream Scope 3
emissions associated with extraction, refining and transportation of the
raw fuel sources to an organization’s site (or asset) prior to their
combustion. Source: UK Government Conversion Factors 2023 for
greenhouse gas (GHG).

Environmental Data Summary continued GRI 2-25
Indicator in tonnes of Year 2016 Year 2023

GRI CO2 equivalent (tCO2e) (tCO2e) Explanation
GRI 305 Emissions

305-3-5 Waste generated in not 5,210 *In 2021, Puratos set commitments regarding waste :
operations available 1) Send Zero Waste to Landfill by 2025 in our TOP12 countries (based on
production volumes) and by 2030 for the whole group;
2) Reduce the residual waste fraction and maximize recycling.
*The Puratos waste strategy to reach these commitments was defined
and approved by the top management in 2022. In this context, a waste
register tool was created and all the sites were asked to provide some
information on the waste generated (type of waste, quantity, waste
processor name, treatment method...). The UK Government Conversion
Factors 2022 for greenhouse gas (GHG) were used to convert this data
into CO2 emissions.
305-3-6 Business travel (flights) not 1,216 Data is coming from FCM Travel Solutions who, as a travel agency,
available arranges all the business trips that include flights in the trip. Business
travel only by other means other than airplanes are minimal and are
not considered to be relevant. CO2 emissions are calculated using the
ICAO methodology.
305-3-7 Optional: Employee not not We have started to work on our scope 3 emissions
commuting available available in 2019 but we have no data on the emissions linked to employee
commuting. A significant part of our employee have company cars,
therefore a part of employee commuting is already included in our
scope 1.
305-3 Total Scope 3 Indirect not 26,351
operations available
GHG emissions intensity (305-4)
Emissions CO2 Intensity Index from 100 91.14 Emissions intensity target and progress made as Metric tons CO2e per
Intensity Index stationary combustion standard unit of production which is then normalized using 2016 base
year emissions.
CO2 Intensity Index from 100 104.92
Puratos aim to achieve 75 CO2 Efficiency Index meaning improve the
transport
operational efficiency by 25% for the Puratos Group for the period
CO2 Intensity Index from 100 83.02 2016-2025. The achievement of this target is measured through CO2e
electricity (Location based) emissions coming from the total energy use. This encompasses the use
of electricity, fossil fuel, natural gas, light fuel, LPG and motor diesel and
305-4 Total Emissions Intensity 100 88.13
gasoline.
Index
To calculate the normalized year emissions we took our internally
(based on scope 1 and
standardized CO2e emissions (based on product mix and production
scope 2 Location based)
requirements). This way it is ensured that efficiency will be truly
improved in our own operations. Corporate results are the sum of
individual results from each production site.
2016: reference year is Index 100.
2023: Index is 88.13.
When comparing 2016 and 2023, we observed a decrease of 11.8% of
our emissions intensity index.
Reduction of GHG emissions (305-5)
Emissions CO2 Reduction from -1,019 Puratos aims to emit less greenhouse gas emissions per tonne
Reduction stationary combustion produced. The reduction of CO2-equivalents we are reporting here is
directly based on our improved CO2 efficiency, multiplied by our actual
CO2 Reduction from -4
CO2 emissions. Whereas our total greenhouse has emissions have
Transport
increased due to business growth, this figure shows how much we have
CO2 Reduction from 102 saved compared with what we should have emitted, adjusted to out
electricity as Location increased business activity. This reduction is the result of several
based initiatives on each site. It is part of our reduction strategy based on 7
pillars: production of renewable energy on site, good house keeping,
305-5 Total Gross Emissions -921
process optimization, utility optimization, and energy saving initiatives
Reduction
such as utility optimization, energy integration and awareness behavior
(based on scope 1 and
change.
scope 2 Location based)

Sustainability Good
Year 2016 Year 2023 Explanation

Indicator in ML
(Megaliters = All Water All Water
GRI 1 million liter) areas stress areas stress All areas Areas with water stress
GRI 303 Water and Effluents
Water withdrawal (303-3)

Water i. Surface water 0 0 0 0
withdrawal
Fresh water 0 0 0 0
Other water 0 0 0 0
ii. Groundwater 755 642 445 259 Well water pumped in 15 sites 10 production sites in water
& 1 admin building/ stress area.
warehouse.
Fresh water 755 642 445 259
Other water 0 0 0 0
v. Third-party water 932 587 1,480 999 Sum of all city water from 71 33 production sites (and 5
production sites & 22 admin offices) in water stress area.
buildings/warehouses,
industrial water in Charmes
and, Truck water in Bulgaria,
Iran, Mexico and Kenya. This is
excluding rain water used
from Erembodegem and The
Philippines and water reused
(wastewater treated) in
Andenne.
Fresh water 932 587 1,480 999
Other water 0 0 0 0
Third-Party water 6 4 In Charmes France, industrial
withdrawal from water supply is river water
Surface Water after filtration.
Third-Party water 926 587 1,477 999
withdrawal from
Groundwater
303-3 Total Water 1,687 1,229 1,925 1,258 Mapping of all production sites with geographic locations then
Withdrawal we used the Aqueduct 3.0 Water Risk Atlas to determine the
water stress level. If Baseline is above 40% we consider the area
at risk of water stress (High to Extremely High).
Water discharge (303-4)

Water i. Surface water 749 721 782 696 13 production sites discharge 11 production sites. China,
discharge by directly to surface water. Malaysia and Peru sites are
destination not in water stressed areas.
ii. Groundwater 14 14 20 20 Both sites in Iran discharge
directly to groundwater.
iii. Sea water 0 0 0 0
iv. Third-party water 479 135 650 230 57 production sites (+ 17 admin
buildings and warehouses)
discharge to city sewer.
303-4 Total Water 1,242 869 1,453 946 71 production sites reporting 35 production sites in water
Discharge or estimating discharge. stress area reporting or
estimating discharge.
Water Fresh water 762 734 802 716 15 production sites, sum
discharge by discharge to surface water
freshwater and groundwater
and other
Other water 479 135 650 230 Discharge to city sewer
water
(third-party water)

Year 2016 Year 2023 Explanation

Indicator in ML
(Megaliters = All Water All Water
GRI 1 million liter) areas stress areas stress All areas Areas with water stress
GRI 303 Water and Effluents

Water No treatment 267 370 Discharge to city sewer
discharge by (third-party water).
level of
Primary physical- 66 7
treatment
chemical treatment
Biological process 909 575 14 sites discharging to sewer
(Thailand, Viadana,
Pozzolengo, 2 in Russia,
Vietnam, Malaysia and
Pennsauken...)
Biological process 0 486 China (2018), Andenne (2019),
and supporting Lummen (2021), Mexico (2022)
fish life discharging to surface water
and Iran (2020) discharging to
groundwater.
Water consumption (303-5)

Water Total water 446 360 472 312
consumption consumption
Change in water not not not not
storage if significant relevant relevant relevant relevant
impact
Water Intensity
Water Withdrawal 100 89.34 Water withdrawal target and progress made as ML per
Intensity Index standard unit of production which is then normalized using
2016 base year emissions. Puratos aim to achieve 75 Water
Efficiency Index meaning improve the operational efficiency
by 25% for the Puratos Group for the period 2016-2025. The
achievement of this target is measured through water
withdrawal coming the total water use excluding rain water or
water reuse.
To calculate the normalized year usage we took our internally
standardized water usage (based on product mix and
production requirements). This ensures that efficiency will be
truly improved in our own operations. Corporate results is the
sum of individual result from each production site.
2016: reference year : Index is 100.
2023: Index is 89.34.
When comparing 2016 and 2023, we observed a decrease of
10.6% of our water withdrawals intensity.
Reduction of water withdrawal

Water Withdrawal 0 -32 Puratos aims to use less water per tonne produced. The
Reduction reduction of water usage reported here is the direct result of
our improved water efficiency compared to 2016, multiplied by
our actual water usage. Whereas our total corporate water use
has increased due to business growth, this figure shows how
much we have saved compared with what we should have
used, adjusted to out increased business activity. This water
reduction is the result of several initiatives on each site. It is part
of our reduction strategy based on 7 pillars: reuse water on site,
good house keeping, process optimization, utility optimization,
and water saving initiatives such as utility optimization and
awareness behavior change.

Sustainability Good
Year 2016 Year 2023
Water withdrawal Water withdrawal
Indicator in ML (Megaliters = 1 million liter) Groundwater Third-party Consumptive Groundwater Third-party Consumptive
Water stress area (ML) water (ML) water (ML) (ML) water (ML) water (ML)
GRI 303 Facilities water stress

BE Andenne 393 87 132 184 44 78
BE Belcolade 22 3 16 0 21 14
BE Groot-Bijgaarden 67 89 35 7 143 30
BE Lummen 0 111 39 0 172 22
BE Saint-Vith 0 37 14 0 45 7
BGR Pernik 0 3 1 0 10 3
BRA Guarulhos 64 0 29 - - -
BRA Phoenix 0 4 2 - - -
CAN Mississauga - - - 0 11 2
CHL Santiago 0 15 4 0 6 2
CHN Huzhou - - - 0 2 0
ESP Riudarenes 0 1 0 0 1 0
ESP Sils 75 0 19 25 66 23
GRC Inofita 0 4 1 0 6 1
IDN Cikarang - - - 0 8 2
IND Pune 0 9 2 0 7 2
IRN Faraz 3 0 0 5 0 1
IRN Kordan 0 15 4 4 19 6
IRN Teheran 0 1 0 0 3 0
KOR Seoul 0 1 0 - - -
ISR Ashdod - - - 0 3 0
ISR Sderot - - - 0 7 0
LTU Vilnius - - - 0 0 0
MAR Settat 0 18 4 0 16 4
MEX Tizayuca 0 75 19 0 205 51
NGA Lagos - - - 0 0 0
NLD Venlo - - - 0 0 0
PER Lima - - - 4 0 1
POL Kostrzyn - - - 0 21 1
POL Puraplant - - - 0 2 0
PRT Sintra - - - 2 3 1
ROU Bucharest 18 0 9 20 0 10
Russia Podolsk 1 0 83 27 0 128 36
Russia Podolsk 2 0 2 1 0 2 0
THA Bangkok 0 11 0 0 4 0
TUR Izmir 0 12 3 0 24 12
UAE Dubai - - - 0 1 0
UKR Odessa - - - 8 0 3
US Rancho Dominguez 0 7 2 0 9 2
ZAF Chipkins - - - 0 6 0
ZAF Branches - - - 0 5 0
Total 642 587 360 259 999 313

GRI Indicator in KG Year 2023* Explanation
GRI 306 Waste
Waste generated (306-3)

Residual waste 7,027,960 KG
Recyclables 6,304,346 KG
Food 39,577,431 KG
Sludge 29,576,522 KG
Waste diverted from disposal (306-4)

Preparation for reuse 339,771 KG
Recycling 9,554,897 KG
Other recovery operations 60,709,274 KG 8% used for composting, 53% for animal feed
and 39% for biomethanisation
Waste directed to disposal (306-4)

Incineration 3,206,101 KG
(with energy recovery)
Incineration 663,131 KG
(without energy recovery)
Landfilling 8,013,086 KG
* first year of reporting

Sustainability Good

Assurance
statement

Sustainability Good
GRI 2-5
Puratos Group NV
Document subtitle= Verdana Heading 12 0/0 single
Puratos Group NV
Independent assurance report on selected environmental, social and
governance performance indicators published in the Integrated Report of
Puratos Group NV for the year ending 31 December 2023
Deloitte Bedrijfsrevisoren / Reviseurs d’Entreprises

Puratos Group NV | 31 December 2023
Independent assurance report on selected environmental, social and

governance performance indicators published in the Integrated Report of
Puratos Group NV/SA for the year ended 31 December 2023
To the board of directors

We have been engaged to conduct a limited assurance engagement on selected environmental, social and
governance performance indicators (“Selected Information”) published in the section “Environmental Data
Summary” and “Key Performance Indicators” of the Integrated report of Puratos Group NV (“the Company”)
for the year ending 31 December 2023. In preparing the Selected Information, Puratos Group NV applied the
criteria as specified in the table below. The Selected Information needs to be read and understood together
with the Applicable Criteria.
The Selected Information in scope of our engagement is included in the below table:
Category Selected Information Applicable Criteria

Health & Well- Total quantity fruits processed
being Total cereal & grains used in product solutions
Total fat reduction volume
Total salt reduction volume
Total sugar reduction volume
Planet Scope 1 GHG emissions
Scope 2 GHG emissions
Total electricity consumed
Total natural gas consumed
Total diesel consumed
Total Liquefied Petroleum gases consumed The Applicable Criteria
Total residual fuel oil consumed are set out in section
Total district heating consumed “Environmental Data
Energy & CO2 efficiency Summary” and “Key
Water usage Performance
Water efficiency Indicators” in the
Ratio of scope 1 & 2 emissions over the total volume of Integrated Report.
products produced
Scope 3 GHG emissions – water supplied
Scope 3 GHG emissions – transmissions and distribution losses
Scope 3 GHG emissions – waste
Scope 3 GHG emissions – business travel
Percentage of packaging that is recyclable or reusable
People Total learning hours
Lost Time Incident Rate - number of Incidents with lost time
per 100 FTEs
Headcounts Male/Female permanent employees per region
Leader in Percentage of Health & Well-being products sold compared to
Innovation total products sold

Sustainability Good
Category Selected Information Applicable Criteria

Communities Bakery school students graduated & employed
Total bonus collected for the Cacao-Trace farmers
Responsible Percentage of Sustainable cocoa
sourcing Percentage of Sustainable cocoa coming from the cocoa trace
Program
Percentage of eggs originating from an alternative to breeding
cages
Percentage of fruit sourced compliant with Field to Fork
strategy
Food safety & Products produced in GFSI certified facilities
quality
Heritage Storage of sourdough in physical and virtual library
Waste Percentage food waste write off
Based on our work as described in this report, nothing has come to our attention that causes us to believe
that the abovementioned Selected Information as included in the section “Environmental Data Summary”
and “Key Performance Indicators” of the Integrated report of the Company, has not been prepared, in all
material respects, in accordance with the Applicable Criteria.
Responsibility of the board of directors
The board of directors of the Company is responsible for the preparation of the Selected Information and the
references made to it presented in the Integrated Report as well as for the declaration that its reporting
meets the requirements of Applicable Criteria.
The board of directors is also responsible for:
 Selecting and establishing the Applicable Criteria;
 Preparing, measuring, presenting and reporting the Selected Information in accordance with the
Applicable Criteria;
 Designing, implementing, and maintaining internal processes and controls over information relevant to
the preparation of the Selected Information to ensure that they are free from material misstatement,
including whether due to fraud or error;
 Providing sufficient access and making available all necessary records, correspondence, information and
explanations to allow the successful completion of the Services;
 Confirming to us through written representations that you have provided us with all information relevant
to our Services of which you are aware, and that the measurement or evaluation of the underlying
subject matter against the Applicable Criteria, including that all relevant matters, are reflected in the
Selected Information.

Our responsibilities
Our responsibility is to express a conclusion on the Selected Information based on our procedures. We
conducted our engagement in accordance with International Standard on Assurance Engagements ISAE 3000
(Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information, issued by
the International Auditing and Assurance Standards Board (IAASB), in order to state whether anything had
come to our attention that causes us to believe that the Selected Information have not been prepared, in all
material respects, in accordance with the Applicable Criteria.
Applying these standards, our procedures are aimed at obtaining limited assurance on the fact that the
Selected Information do not contain material misstatements. The procedures performed in a limited
assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable
assurance engagement and consequently, the level of assurance obtained in a limited assurance
engagement is substantially lower than the assurance that would have been obtained had a reasonable
assurance engagement been performed.
Our work was performed on the data gathered and retained in the reporting scope by the Company as
mentioned in the above. Our conclusion covers therefore only the abovementioned Selected Information
included in section “Environmental Data Summary” and “Key Performance Indicators” of the Integrated
Report and not all information included in the Integrated Report. The limited assurance on the Selected
Information was only performed on the Selected Information covering the year ending 31 December 2023.
We are required to plan and perform our work to address the areas where we have identified that a material
misstatement of the description of activities undertaken in respect of the Selected Information is likely to
arise. The procedures we performed were based on our professional judgment. In carrying out our limited
assurance engagement on the description of activities undertaken in respect of the Selected Information, we
performed the following key procedures:
 Obtain an understanding of the Company’s business, including internal controls relevant to collection of
the Selected Information. This included inquiry with the Company’s management responsible for
operational performance in the areas responsible for the data underlying the Selected Information;
 Perform analytical review procedures and consider the risks of material misstatement of the Selected
Information;
 Recalculation of relevant formula’s used in manual calculations and assessment whether the data has
been appropriately consolidated;
 Perform procedures over the Selected Information including assessing management’s assumptions and
estimates;
 Examine, on a sample basis, internal and external supporting evidence and perform consistency checks
on the consolidation of the Selected Information.
 Accumulate misstatements and control deficiencies identified, assessing whether material.
 Read the narrative accompanying the Selected Information with regard to the Applicable Criteria, and
for consistency with our findings.
We apply International Standard on Quality Management 1 and, accordingly, maintain a comprehensive
system of quality control including documented policies and procedures regarding compliance with ethical
requirements, professional standards and applicable legal and regulatory requirements.
In conducting our engagement, we have complied with the independence and other ethical requirements of
the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for
Accountants (IESBA), which is founded on fundamental principles of integrity, objectivity, professional
competence and due care, confidentiality and professional behaviour.
3
Sustainability Good
Inherent limitations of the Selected Information

We obtained limited assurance over the preparation of the Selected Information in accordance with the
Applicable Criteria. Inherent limitations exist in all assurance engagements.
Any internal control structure, no matter how effective, cannot eliminate the possibility that fraud, errors or
irregularities may occur and remain undetected and because we use selective testing in our engagement, we
cannot
Inherenguarantee
t limitationthat
s of terrors
he Seleor
cteirregularities,
d Informationif present, will be detected.
The self-defined
We obtained Applicable
limited assuranceCriteria,
over the
the nature of theofSelected
preparation Information,
the Selected and absence
Information of consistent
in accordance with the
external standards allow for different, but acceptable, measurement
Applicable Criteria. Inherent limitations exist in all assurance engagements. methodologies to be adopted which
may result in variances between entities. The adopted measurement methodologies may also impact
Any internal control
comparability of the structure, no matter how
Selected Information effective,
reported cannot organizations
by different eliminate the and
possibility thattofraud,
from year year errors
within or
irregularities may occur and remain
an organization as methodologies develop. undetected and because we use selective testing in our engagement, we
cannot guarantee that errors or irregularities, if present, will be detected.
Use of our report
The self-defined Applicable Criteria, the nature of the Selected Information, and absence of consistent
This report
external is madeallow
standards solelyfor
to different,
the boardbutof directors of Puratos
acceptable, Group NV
measurement in accordance
methodologies to with ISAE 3000
be adopted which
(Revised)
may result in variances between entities. The adopted measurement methodologies may also impact to the
and our agreed terms of engagement. Our work has been undertaken so that we might state
board of directors
comparability those
of the matters
Selected we have agreed
Information reportedto by
state to them
different in this report
organizations and
and for no
from other
year purpose.
to year within
an organization as methodologies develop.
Without assuming or accepting any responsibility or liability in respect of this report to any party other than
the
U se Company
of our repandort its board of directors, we acknowledge that the board of directors may choose to make
this report publicly available for others wishing to have access to it, which does not and will not affect or
This
extendreport is made
for any solely
purpose orto onthe
anyboard
basis of
ourdirectors of Puratos
responsibilities. To Group NV inextent
the fullest accordance
permittedwithbyISAE
law,3000
we do not
(Revised)
accept or assume responsibility to anyone other than Puratos Group NV and its board of directorsstate
and our agreed terms of engagement. Our work has been undertaken so that we might to the
as a body,
board
for ourofwork,
directors those
for this matters
report, wethe
or for have agreed towe
conclusions state
havetoformed.
them in this report and for no other purpose.
Withoutatassuming
Signed Zaventem. or accepting any responsibility or liability in respect of this report to any party other than
the Company and its board of directors, we acknowledge that the board of directors may choose to make
this report publicly available for others wishing to have access to it, which does not and will not affect or
extend for any purpose or on any basis our responsibilities. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than Puratos Group NV and its board of directors as a body,
for our work, for this report, or for the conclusions we have formed.
Signed at Zaventem.
Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises BV/SRL

Represented by Sofian Milad

Represented by Sofian Milad

Registered Office: Gateway building, Luchthaven Brussel Nationaal 1 J, B-1930 Zaventem
VAT BE 0429.053.863 - RPR Brussel/RPM Bruxelles - IBAN BE86 5523 2431 0050 - BIC GKCCBEBB
Member of Deloitte Touche Tohmatsu Limited

Registered Office: Gateway building, Luchthaven Brussel Nationaal 1 J, B-1930 Zaventem
GRI Content Index
GRI Standard Title Location Reasons for Omission
General Disclosure
GRI 2: General disclosures 2021
2-1 Organizational details Front Cover, About Us, Back Cover
2-2 Entities included in the organization’s About this Report
sustainability reporting
2-3 Reporting period, frequency and About this Report
contact point
2-4 Restatements of information No restatements of information
2-5 External assurance Assurance Statement
2-6 Activities, value chain, and other Website, About Us, Highlights,
business relationships Our commitment to ethical trade practices
2-7 Employees About Us, KPIs, People
2-8 Workers who are not employees KPIs, People
2-9 Governance structure and composition Our Governance Structure
2-10 Nomination and selection of the highest Omitted Confidentiality constraints
governance body
2-11 Chair of the highest governance body Omitted Confidentiality constraints
2-12 Role of the highest governance body in overseeing Omitted Confidentiality constraints
the management of impacts
2-13 Delegation of responsibility for Omitted Confidentiality constraints
managing impacts
2-14 Role of the highest governance body in Omitted Confidentiality constraints
sustainability reporting
2-15 Conflicts of interest Omitted Confidentiality constraints
2-16 Communication of critical concerns Omitted Confidentiality constraints
2-17 Collective knowledge of the highest governance body Omitted Confidentiality constraints
2-18 Evaluation of the performance of the highest Omitted Confidentiality constraints
governance body
2-19 Remuneration policies Omitted Confidentiality constraints
2-20 Process to determine remuneration Omitted Confidentiality constraints
2-21 Annual total compensation ratio Omitted Confidentiality constraints
2-22 Statement on sustainable Letter from the CEO
development strategy
2-23 Policy commitments Environment, Corporate governance policy
2-24 Embedding policy commitments Supporting our strategy across the organization,
Responsible Sourcing
2-25 Processes to remediate negative impacts Sustainability in our organization, Responsible
Sourcing, Corporate governance policy,
Environment, Packaging, Carbon neutral and
water-balanced environmental data summary,
healthy, natural and nutritious products
2-26 Mechanisms for seeking advice and Good governance
raising concerns
2-27 Compliance with laws and regulations Omitted Confidentiality constraints
2-28 Membership associations Responsible Sourcing, SDGs
2-29 Approach to stakeholder engagement People, Stakeholder Engagement
2-30 Collective bargaining agreements Human Rights Due to confidentiality
reasons we cannot disclose
how many employees are
part of a trade union.
Material Topics
GRI 3: Material Topics 2021
3-1 Process to determine material topics Materiality Summary, Materiality Assessment,
Stakeholder Engagement
3-2 List of material topics Materiality Summary, Materiality Assessment,
About this Report
3-3 Management of material topics Materiality Summary, Materiality Assessment,
Puratos and the SDGs

Sustainability Good
Specific disclosures – Highly material topics

GRI Standard Title Location Reasons for Omission
Economic Standards
GRI 204: Procurement practices (linked to material topic “transparent and responsible sourcing”)
204-1 204-1 Proportion of spending on local suppliers Omitted Confidentiality constraints
Own indicator: % of eggs originating from an alternative Responsible Sourcing
to breeding cages1
GRI 205: Anti-corruption (linked to material topic “responsible and ethical business conduct”)
205-1 Operations assessed for risks related to corruption Omitted Confidentiality constraints
205-2 Communication and training about anti-corruption policies People
and procedures
Own indicator: % of cocoa sourced in a sustainable way and Responsible Sourcing, KPIs
% thereof sourced through Puratos’ Cacao-Trace Program2
Own indicator: % of employees that followed training on ethical People
behaviour and cyber security3
205-3 Confirmed incidents of corruption and actions taken Omitted Not applicable
Environmental Standards
GRI 301: Materials (linked to material topic “sustainable and circular packaging”)
301-1 Materials used by weight or volume Omitted Information unavailable/incomplete
301-2 Recycled input materials used Environment, Packaging
301-3 Reclaimed products and their packaging materials Omitted Information unavailable/incomplete
Own indicator: Register our packaging spend (T of packaging Packaging
purchased that is recyclable, reusable, single use)4
GRI 302: Energy (linked to material topic “greenhouse gas emissions”)
302-1 Energy consumption within the organization Environmental Data Summary
302-2 Energy consumption outside of the organization Omitted Information unavailable/incomplete
302-3 Energy intensity Environmental Data Summary
302-4 Reduction of energy consumption Environmental Data Summary
302-5 Reductions in energy requirements of products and services Omitted Not applicable
GRI 303: Water and effluents (linked to material topic “water stewardship”)
303-3 Water withdrawal Environmental Data Summary
303-4 Water discharge Environmental Data Summary
303-5 Water consumption Environmental Data Summary
GRI 305: Emissions (linked to material topic “greenhouse bas emissions”)
305-1 Direct (Scope 1) GHG emissions Environmental Data Summary
305-2 Energy indirect (Scope 2) GHG emissions Environmental Data Summary
305-3 Other indirect (Scope 3) GHG emissions Environmental Data Summary
305-4 GHG emissions intensity Environmental Data Summary
305-5 Reduction of GHG emissions Environmental Data Summary
305-6 Emissions of ozone-depleting substances (ODS) Omitted Not applicable
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant Omitted Not applicable
air emissions
GRI 306: Waste
306-1 Waste generation and significant waste-related impacts Environment, waste management
in our operations and circular
economy, Food waste
306-2 Management of significant waste-related impacts Environment, waste management
in our operations and circular
economy, Food waste
306-3 Waste generated Environmental Data Summary
306-4 Waste diverted from disposal Waste Management in our
operations and circular economy,
Environmental Data Summary
306-5 Waste directed to disposal Waste Management in our
operations and circular economy,
Environmental Data Summary
1 - The data on the quantity of purchased eggs quantity and type of egg is retracted from SAP. Based on the egg description (barn, free range or organic), she can separate the total of cage
free eggs can be separated from the other types. It is a material category indicated in SAP. To get the %, the total volume of eggs purchased is divided by the amount of cage free eggs.
2 - The % is calculated based on the purchased quantity of sustainable sourced cocoa against the total quantity of cocoa (sustainable and non-sustainable) purchased. Every purchased
commodity is logged in SAP, the system from which the data is extracted. The cocoa related items are selected and the sustainable sourced cocoa has a specific code (UTZ, FT, RFA,
Cacao Trace, so it can be distinguished from regular cocoa. Manual adaptation is needed for UTZ and the data coming from Vietnam since this entity is in a transition period to be fully
present on SAP. The cocoa coming from the Cocoa trace Program is flagged by the code CCT. The total quantity of purchased cocoa with the CCT code is divided by the overall ton of
purchased cocoa (sustainable and non-sustainable).
3 - Success factors is are being used for all online trainings. Training courses are directly assigned to employees that have access to Success factors. Employees who are no longer active
within the company, are not taken intoincluded in the calculation. Reporting is done a monthly basis via a PowerBI dashboard.
4 - Packaging sustainability data collected from Puratos packaging top spend countries representing 96% of total packaging spent. Data uploaded to SAP based on packaging article
number. Packaging sustainability reporting is done via Power BI (using SAP and Purchasing data) and report in tonnage by calculating quantity bought and weight of single unit.

Key performance indicators
Puratos’s key performance indicators (KPIs) provide a focus for measuring and reporting
Creating Shared Value (CSV), sustainability and compliance.
Commitments Our long-term objectives 2017 2018 2019 2020 2021 2022 2023
Health performance Page XX
Tons of fat removed from our products 5 4,862T 7,187T 7,238T 7,172T 9,264T 12,503T 1 15,759T
Tons of salt removed from our products 6
301T 265T 223T 104T 110T 126T 86T 2
Tons of sugar removed from our products 7 379T 679T 769T 681T 1,236T 1,456T 1,485T
Well-being performance
Tons of fruits processed into our fruit fillings +9% +15% +4% +2% +7% +5% +40% 3
(year on year growth since 2016)
Health &
Well-being Tons of grains and seeds used in our product 0% +12% -1% +8% +8% +8% +16% 4
solutions (year on year growth since 2016)
H&WB products sold

% of H&WB products sold vs total products – – – 23.1% 27.3% 30% 32%
sold
Food safety performance
Percentage of Puratos facilities certified 87% 89% 94% 96.5% 97.5% 99.6%(4) 99.3% 8
according to one of the GFSI standards
Responsible Sourcing performance
% of cocoa purchased in a sustainable way 19% 26.3% 26.6% 26.6% 36% 44% 54.1%
% of cocoa purchased through our audited – 10.5% 9.1% 9.8% 15% 15% 25.5%
cacao-trace program
Responsible
Sourcing % of fruit sourced compliant with – – – – – 5% 13.9% 9
Field to Fork strategy 9
# of trees planted in our direct – – 45,517 50,427 119,604 138,828 324,478
Cacao-Trace supply chain
% of cage-free eggs sourced – – – – 22% 31% 30%
Carbon Footprint performance
CO2 reduction 24% 30% 35% 43%
Renewable energy sourced 67% 79% 90% 100%
m2 solar panels 25,000 36,000 57,000 84,000
Total emission (tCO2e) 111,635 103,922 101,013 89,057 94,308 119,560 78,858
GHG Scope 1 (tCO2e) 68,287 73,809 75,935 72,848 79,399 76,322 78,369
GHG Scope 2 (tCO2e) 43,348 30,112 25,078 16,210 14,761 43,238 489
Renewable energy used (MWh) 136 116 295 1,278 3,044 6,665 12,857
Environment
Imported green electricity (MWh) 0 78,102 99,446 103,370 127,485 142,240 168,999
Water performance
Water withdrawal (ML) 1,770 1,806 1,808 1,793 1,979 1,894 1,925
Total water consumption (ML) 475 451 429 439 509 523 472
Waste and Packaging
% reusable (in tonnage) 10 – – – – – – 23
% recyclable (in tonnage) 10 – – – – – – 69
% food waste write off 11 – – – – – – 20
Sourdough performance
Heritage Storage of sourdoughs in physical library 103 115 125 131 136 139 148
Storage of sourdoughs in virtual library 1,094 1,441 1,700 1,900 2,500 2,700 2,942
1 - in 2022, new formula applied, extended until 2019
2 - in 2023, new formula applied, extended until 2019
3 - including Fourayes acquisition. the KPI is calculated based on the amount of Fruits in different formats (fresh, frozen, puree etc), that Puratos purchases and uses in the production of
our fruit filling
4 - including Puratos Schobbers. The KPI is calculated based on the number of grains, seeds, wholemeal flours, and cereals that Puratos purchases and uses in the production of our soft
grains, sprouted grains, bakery mixes, bakery improvers etc.
5 - The total fat reduction volume (in tons) is reported by applying a ratio corresponding to the total sales volumes of two products (Puraslim and Cremfil). The calculation method for the
ratio of Puraslim was adjusted (due to the increase of sales of this product). The amount of fat reduction also depends on the way Puraslim is added (as a powder or in a mixture) and
the dosage. The annual figure of sold product for those 2 products are retrieved from the SAP system . The corresponding ratio for Cremfil and for Puraslim is then applied.
6 - The total mass of salt removed from production is reported based on the use of salt improvers. The total sales volumes are computed and a ratio of salt reduction is applied. The salt
improvers saving ratio has been set up and approved by R&D (25% is a minimum requirement to be labelled as salt reducing). Each ‘salt reduced’ item is flagged in SAP by the local
product manager. Annual sales volumes of salt improvers are retrieved from Power BI and the ratio of 25% is applied to compute the total salt removed from production.
7 - The total mass of sugar removed from production is reported based on the products flagged as ‘sugar reduced’. The KPI is computed by applying a ratio of sugar reduction to the total
sales volumes of those products. The sugar ratio has been set up and approved by R&D. Every product with a sugar reduced claim has been flagged in SAP by the local product
manager. The annual sales volume of sugar reduced products is retrieved from Power BI and the ratio of 31.33% is applied to compute the total sugar removed from production.
8 - KPI is calculated using N-1 production volumes.
9 - 13.9% of our total volume of fruit is purchased by engaging with our local farmers from which we buy directly. By performing site visits, we know the exact origin of the fruit and can
make sure that it is compliant with our internal field to fork policy.
10 - Based on 22 primarily producing countries representing 96% of packaging spent. Data only available as of 2023.
11 - Reporting started in 2023. The documented food waste consists of inventory items (including raw materials, semi-finished goods, and finished goods) that require disposal due to
quality issues or expiration. These instances are recorded through dedicated transactions within our ERP system (SAP), capturing both their monetary value and weight.

Sustainability Good
GRI 2-7 GRI 2-8
Commitments Our long-term objectives 2017 2018 2019 2020 2021 2022 2023
Human capital development*
Total headcount 8,511 9,011 9,370 9,318 9,535 10,062 10,753
Female permanent employees 2,482 2,534 2,708 2,981
Female temporary employees 158 166 184 185
Male permanent employees 6,360 6,421 6,737 7,116
Male temporary employees 318 411 432 392
UNDEFINED permanent employees 1 - - - 4
APMEA permanent employees 2,238.8 2,299.0 2,413.6 2,545
APMEA temporary employees 216 234 273 291
BeOps permanent employees 820 826 849.5 857
BeOps temporary employees 28 38 34 17
HQ permanent employees 488.5 488.0 513.9 558
HQ temporary employees 11 11 10 12
Cocoa permanent employees 78.5 81 77.9 97
Cocoa temporary employees 15 21 22 30
F&F permanent employees 2 3 3 3
F&F temporary employees 0 0 0 0
N&EEU permanent employees 1,793 1,811 1,892.4 2,113
N&EEU temporary employees 71 83 107 118
NAM permanent employees 1,300.7 1,314 1,330.7 1,503
NAM temporary employees 13 49 50 16
People SAM permanent employees 926.5 949.0 1,109 1,127
SAM temporary employees 97 89 88 73
SEU permanent employees 1,194 1,187 1,255 1,298
SEU temporary employees 25 52 33 20
Global courses 190 268 385 419
Active learners 4,218 6,160 7,247 6,856
Learning hours 35,388 28,027 47,212 38,080
% of female employees who received 100% 100% 100% 100% 100% 100% 100%
regular performance and career
development reviews
% of male employees who received regular 100% 100% 100% 100% 100% 100% 100%
performance and career development
reviews
* Our HR Market setup is the same as the one used for finance reporting: APMEA (Asia Pacific, Middle-East & Africa), BeOps (Belgian Operations present of
the 5 Belgian sites), HQ (supporting functions in Groot-Bijgaarden), Cocoa (entities with chocolate activities including Vietnam Ben-Tre, Plantación Tikul
and Eco Museo), F&F (entity of BelFeed), N&EEU (Northern and Eastern Europe), NAM (North-America), SAM (South-America) and SEU (Southern Europe).
Health and Safety

The number and rate of fatalities as a result 0 0 0 0 0 0 0
of work-related injuries 0 0 0 0 0 0 0
The number and rate of high-consequence 87 88 71 79 99 63 81
work-related injuries (excluding fatalities)2 1.09 0.96 0.75 0.84 1.08 0.58 0.76
The number and rate of recordable – 200 199 184 128 176 78
work-related injuries 2.17 2.11 1.96 1.38 1.53 0.75
The number of hours worked 15,925,550 18,412,824 18,854,779 18,769,820 18,580,125 19,766,624 20,699,833
Bakery Schools
Students graduated 38 57 100 151 200 58 98
Communities
Next Generation Cacao
Chocolate bonus distributed €177,638 €288,000 €382,496 €423,178 €1,007,809 €2,021,572 €2,489,324
1 - New since 2023

2 - The formula to calculate the LTIR (Lost Time Injury Rate) is as follows: LTIR = (Number of lost time cases x 200,000) / total number of hours worked by employees. The figure 200,000 is a
standard number to measure incident rates so companies of varying sizes can be compared fairly. This figure was determined by multiplying 100 employees by 40 hours (a standard
work week) by 50 weeks (assuming each employee takes two weeks of vacation)

7726 - 05/2024
www.puratos.com
Puratos NV/SA – Industrialaan 25, Zone Maalbeek – B-1702 Groot-Bijgaarden, Belgium

T +32 2 481 44 44 | F +32 2 466 25 81 | E info@puratos.com

2023 Puratos Sustainability Report

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Sustainability Report 2023

Our headquarters are located in Belgium, where the

Together, we move the planet forward by creating

Our reporting suite:

Cacao-Trace & Next Generation

Read more at www.puratos.com

Letter from the CEO GRI 2-22

Puratos Sustainability Report 2023 1

Who we are Our Purpose Our Mission

Vision Courage Passion Collaboration Integrity Quality

2 Puratos Sustainability Report 2023

GRI 2-1 GRI 2-6 GRI 2-7

We offer a full range of innovative food solutions

Products are available 129 subsidiaries 75 production units Innovation centers

135 129 75 119

Founded in Employees R&D researchers & technical Revenue invested

1919 10,753 1,252 2.2%

Puratos Sustainability Report 2023 3

Key financial highlights

Net Sales EBITDA

2021 2022 2023 2021 2022 2023

2021 2022 2023

4 Puratos Sustainability Report 2023

Key non-financial highlights

32% -43% €2.4m

100% sourcing renewable electricity Students enrolled in the

2021 2022 2023 2021 2022 2023

1 Compared with 2016, base year.

Puratos Sustainability Report 2023 5

At Puratos, we are deeply committed to prioritize consumer health and well-

and the environment. We are dedicated Our sustainability strategy is translated

6 Puratos Sustainability Report 2023

GRI 2-25 GRI 3-3

Our Commitments to You and to Future Generations

Read more on Page 14

everything we do. Whether it

is our colleagues, or the

communities we operate in,

Read more on Page 38

Read more on Page 20

Read more on Page 10

Puratos Sustainability Report 2023 7

Supporting our strategy across the whole organization

GRI 2-1 GRI 2-1

Inform all employees about

Embed sustainability into business

8 Puratos Sustainability Report 2023

Materiality Assessment Summary

You can find more details on our approach to materiality on Page 64

4 Greenhouse gas emissions

10 Healthy, natural and nutritious 4

and sustainable ingredients

6 Sustainable and circular

15 Employee health, safety and

11 Healthy, natural and nutritious

Puratos Sustainability Report 2023 9

Our results in 2023

Better Health Our commitments

• Increase the presence of wholesome ingredients in our products

[Material Issue 10 : Healthy, natural and nutritious products]

Cacao-Trace & Next Generation