Interim report
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This document is a translation into English of an original document drafted in Spanish. This document contains: (i) Consolidated Annual Financial Statements of the Company and its subsidiaries for Fiscal Year 2025, drawn up by the Board of Directors at its meeting of February 26, 2026; (ii) Consolidated Management Reports of the Company and the companies included in its scope of consolidation drawn up by the Board of Directors at its meeting of February 26, 2026; and (iii) the signing page and the Responsibility Statement of the Directors of the Company. This translation is for information purposes only, therefore, it is not considered as financial information. In case of discrepancy, the Spanish version shall prevail. The Spanish version of this document is available on the official website of the Company (www.gestamp.com).
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Gestamp Automoción, S.A. and its subsidiaries Auditor’s report Consolidated annual accounts as at 31 December 2025 Consolidated management report
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PricewaterhouseCoopers Auditores, S.L. Torre PwC, P.º de la Castellana 259 B, 28046 Madrid, España Tel.: +34 915 684 400 / +34 902 021 111 R. M. Madrid, hoja M-63.988, folio 75, tomo 9.267, libro 8.054, sección 3.ª Inscrita en el R.O.A.C. con el número S0242 - NIF: B-79031290 1 www.pwc.es This version of our report is a free translation of the original, which was prepared in Spanish. All possible care has been taken to ensure that the translation is an accurate representation of the original. However, in all matters of interpretation of information, views or opinions, the original language version of our report takes precedence over this translation. Independent auditor's report on the consolidated annual accounts To the shareholders of Gestamp Automoción, S.A.: Report on the consolidated annual accounts Opinion We have audited the consolidated annual accounts of Gestamp Automoción, S.A. (the Parent company) and its subsidiaries (the Group), which comprise the balance sheet as at 31 December 2025, and the profit or loss account, statement of comprehensive income, statement of changes in equity, cash flow statement and related notes, all consolidated, for the year then ended. In our opinion, the accompanying consolidated annual accounts present fairly, in all material respects, the equity and financial position of the Group as at 31 December 2025, as well as its financial performance and cash flows, all consolidated, for the year then ended, in accordance with International Financial Reporting Standards as adopted by the European Union (IFRS-EU) and other provisions of the financial reporting framework applicable in Spain. Basis for opinion We conducted our audit in accordance with legislation governing the audit practice in Spain. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the consolidated annual accounts section of our report. We are independent of the Group in accordance with the ethical requirements, including those relating to independence, that are relevant to our audit of the consolidated annual accounts in Spain, in accordance with legislation governing the audit practice. In this regard, we have not rendered services other than those relating to the audit of the accounts, and situations or circumstances have not arisen that, in accordance with the provisions of the aforementioned legislation, have affected our necessary independence such that it has been compromised. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key audit matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated annual accounts of the current period. These matters were addressed in the context of our audit of the consolidated annual accounts as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
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2 Gestamp Automoción, S.A. and its subsidiaries Key Audit Matters How our audit address the key audit matters Assessment of the recovery of the carrying amount of the Group's property, plant and equipment As detailed in note 11, the accompanying consolidated financial statements present property, plant and equipment amounting to 5.082.701 thousand euros as of December 31, 2025. At the end of the year, the Group's management assesses the recoverable value of property, plant and equipment and makes valuation adjustments whenever there is objective evidence that the carrying amount of property, plant and equipment is not recoverable. When the asset under analysis does not generate cash flows independent of other assets, the recoverable value of the cash-generating unit (CGU) in which the asset has been included is estimated. As detailed in notes 6.7 and 11 of the accompanying consolidated financial statements, the amount of the valuation adjustment is the difference between its carrying amount and the recoverable amount, understood as the greater of its fair value less costs to sell and the present value of the future cash flows generated by the CGU. The key assumptions considered for the determination of the present value of cash flows are detailed in note 11 of the accompanying financial statements. This area is key because it involves the existence of significant estimates on the key assumptions used in the calculations made by the Group's management for the assessment of the recovery of the carrying amount of the Group's property, plant and equipment, which, if different, may have a significant impact on the consolidated financial statements. We have gained an understanding of the processes linked to the evaluation of the carrying amount recovery of property, plant and equipment by the Group's management, including those related to the determination of the key assumptions considered in management's estimates. For the Group's cash-generating units (CGUs) with signs of impairment, we have assessed, with the collaboration of our valuation experts, the adequacy of the valuation models used, as well as the key assumptions and estimates used to determine the cash flows considered by the Group's management. We have also checked the mathematical accuracy of the calculations and models prepared by management and have compared the recoverable amount calculated by management with the net book value of property, plant and equipment. Finally, we have assessed whether the disclosures included in note 11 of the accompanying consolidated financial statements in relation to this issue are adequate with respect to those required by the applicable accounting regulations. As a result of our procedures, no essential observations have been revealed to be noted. Evaluation of the recovery of the value of consolidation goodwill As detailed in note 10, the accompanying consolidated financial statements present consolidation goodwill amounting to 142.504 thousand euros as of December 31, 2025. We have conducted an understanding of the processes related to the evaluation of the carrying amount recovery of consolidation goodwill by Group management, including those related to the determination of the key assumptions considered in management's estimates.
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3 Gestamp Automoción, S.A. and its subsidiaries At the end of the year, the Group's management assesses the recoverable value of the consolidation goodwill, and makes the valuation adjustments whenever there is objective evidence that the carrying amount of the consolidation goodwill is not recoverable. For recoverable value calculations, the Group uses cash flow projections based on financial budgets prepared by management that require relevant judgements and estimates. The key assumptions used by the Group's management and the sensitivity analyses carried out are summarised in note 10 of the accompanying consolidated financial statements. Deviations from the assumptions considered in management's estimates may lead to significant variations in the conclusions reached and, therefore, in the goodwill recoverability analysis. These facts make this area a key issue for our audit. For the Group's consolidation goodwill, we have evaluated, with the collaboration of our valuation experts, the adequacy of the valuation models used, as well as the key assumptions and estimates used to determine the cash flows considered by the Group's management in determining the recoverable value of such consolidation goodwill. We have also checked the mathematical accuracy of the calculations and models prepared by management and have compared the recoverable amount calculated by management with the net book value of the consolidation goodwill. Finally, we have assessed whether the disclosures included in note 10 of the accompanying consolidated financial statements in relation to this issue are adequate with respect to those required by the applicable accounting regulations. As a result of our procedures, no essential observations have been revealed to be noted. Assessing the recoverability of deferred tax assets from tax credits The consolidated balance sheet as of December 31, 2025 shows 612.045 thousand euros of deferred tax assets, of which 236.937 thousand euros correspond to tax credits, as indicated in note 24 of the accompanying consolidated financial statements. As indicated in note 7.1 to the accompanying consolidated financial statements, deferred tax assets are recognised to the extent that it is likely that there will be a tax benefit against which they can be used in view of the tax legislation in force and the latest approved strategic plans. Determining the amount of deferred tax assets that can be recorded requires management to make meaningful estimates of the reasonable time of recovery and the level of future tax benefits. The significant estimates and judgements made in the aforementioned projections of future tax bases, used to estimate the recoverable amount of deferred tax assets, are why we consider this matter a key issue in our audit. Our analysis on this issue has begun with an understanding of the methodology applied and the criteria used by the Group for estimating the recoverability of deferred tax assets. Based on the strategic plans, which are based on the plans and budgets approved by the Group's management, we have analysed whether the calculations and estimates made by the Group, as well as the conclusions reached, in relation to the amount that is considered likely to be recovered from deferred tax assets, are consistent with current tax regulations. the Group's expectations of future fiscal results, as well as estimates used in other areas, such as asset impairment tests. Finally, we have checked the breakdowns in the accompanying consolidated financial statements regarding the recoverability of these assets based on the regulatory framework for financial reporting applicable to the Group. As a result of our procedures, no essential observations have been revealed to be noted.
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4 Gestamp Automoción, S.A. and its subsidiaries Recognition of net turnover The Group's activity, as indicated in note 1 of the accompanying consolidated accounts, consists mainly of the development and manufacture of metal components for the automotive industry, by stamping, assembly, welding and joining of formats, as well as the construction of tools and machinery. As indicated in note 6.11 to the accompanying consolidated accounts, revenue is recognised as parts are produced, an asset is created that has no alternative use, and orders create rights and obligations that cause control of the parts to be transferred to the customer as they are created. In the case of tooling production, parts are transferred over time and the method of progress measurement is used to measure the degree of progress. We focus on the area of net turnover due to the relevance of this in the Group's consolidated financial statements. We have assessed the proper implementation of the net turnover recognition policy, as well as the design, implementation and operational effectiveness of the relevant controls supporting such revenue. In addition, we have requested confirmation for a selection of clients and we have checked, for a sample, the correct registration of the income for the year and the cut-off of operations. We have also analysed a sample of accounting entries, selected according to certain characteristics. The result of our procedures is consistent with the accounting record applied by the Group and the information included in the consolidated financial statements relating to this area. Other matters On 27 February 2025, other auditors issued their audit report on the consolidated annual accounts for the 2024 financial year in which a favorable opinion was expressed. Other information: Consolidated management report Other information comprises only the consolidated management report for the 2025 financial year, the formulation of which is the responsibility of the Parent company's directors and does not form an integral part of the consolidated annual accounts. Our audit opinion on the consolidated annual accounts does not cover the consolidated management report. Our responsibility regarding the consolidated management report, in accordance with legislation governing the audit practice, is to: a) Verify only that the consolidated statement of non-financial information, certain information included in the Annual Corporate Governance Report and the Annual Report on Directors' Remuneration, as referred to in the Auditing Act, have been provided in the manner required by applicable legislation and, if not, we are obliged to disclose that fact. b) Evaluate and report on the consistency between the rest of the information included in the consolidated management report and the consolidated annual accounts as a result of our knowledge of the Group obtained during the audit of the aforementioned financial statements, as well as to evaluate and report on whether the content and presentation of this part of the consolidated management report is in accordance with applicable regulations. If, based on the work we have performed, we conclude that material misstatements exist, we are required to report that fact.
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5 Gestamp Automoción, S.A. and its subsidiaries On the basis of the work performed, as described above, we have verified that the information mentioned in section a) above has been provided in the manner required by applicable legislation and that the rest of the information contained in the consolidated management report is consistent with that contained in the consolidated annual accounts for the 2025 financial year, and its content and presentation are in accordance with applicable regulations. Responsibility of the directors and the audit commission for the consolidated annual accounts The Parent company's directors are responsible for the preparation of the accompanying consolidated annual accounts, such that they fairly present the consolidated equity, financial position and financial performance of the Group, in accordance with IFRS-EU and other provisions of the financial reporting framework applicable to the Group in Spain, and for such internal control as the aforementioned directors determine is necessary to enable the preparation of consolidated annual accounts that are free from material misstatement, whether due to fraud or error. In preparing the consolidated annual accounts, the Parent company's directors are responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the aforementioned directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so. The Parent company's audit commission is responsible for overseeing the process of preparation and presentation of the consolidated annual accounts. Auditor’s responsibilities for the audit of the consolidated annual accounts Our objectives are to obtain reasonable assurance about whether the consolidated annual accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with legislation governing the audit practice in Spain will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual accounts. As part of an audit in accordance with legislation governing the audit practice in Spain, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the consolidated annual accounts, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Parent company's directors.
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6 Gestamp Automoción, S.A. and its subsidiaries • Conclude on the appropriateness of the Parent company's directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual accounts or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the consolidated annual accounts, including the disclosures, and whether the consolidated annual accounts represent the underlying transactions and events in a manner that achieves fair presentation. • Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the Group as a basis for forming an opinion on the consolidated annual accounts. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion. We communicate with the Parent company's audit commission regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide the Parent company's audit commission with a statement that we have complied with ethical requirements relating to independence and we communicate with the aforementioned those matters that may reasonably be considered to threaten our independence and, where applicable, the safeguards adopted to eliminate or reduce such threat. From the matters communicated with the Parent company’s audit commission, we determine those matters that were of most significance in the audit of the consolidated annual accounts of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter. Report on other legal and regulatory requirements European single electronic format We have examined the digital files of the European single electronic format (ESEF) of Gestamp Automoción, S.A. and its subsidiaries for the 2025 financial year that comprise an XHTML file which includes the consolidated annual accounts for the financial year and XBRL files with tagging performed by the entity, which will form part of the annual financial report. The directors of Gestamp Automoción, S.A. are responsible for presenting the annual financial report for the 2025 financial year in accordance with the formatting and markup requirements established in the Delegated Regulation (EU) 2019/815 of 17 December 2018 of the European Commission (hereinafter the ESEF Regulation). In this regard, the Annual Corporate Governance Report and the Annual Report on Directors' Remuneration have been incorporated by reference in the consolidated management report.
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7 Gestamp Automoción, S.A. and its subsidiaries Our responsibility is to examine the digital files prepared by the Parent company's directors, in accordance with legislation governing the audit practice in Spain. This legislation requires that we plan and execute our audit procedures in order to verify whether the content of the consolidated annual accounts included in the aforementioned digital files completely agrees with that of the consolidated annual accounts that we have audited, and whether the format and markup of these accounts and of the aforementioned files has been effected, in all material respects, in accordance with the requirements established in the ESEF Regulation. In our opinion, the digital files examined completely agree with the audited consolidated annual accounts, and these are presented and have been marked up, in all material respects, in accordance with the requirements established in the ESEF Regulation. Report to the audit commission of the Parent company The opinion expressed in this report is consistent with the content of our additional report to the audit commission of the Parent company dated 26 February 2026. Appointment period The General Ordinary Shareholders' Meeting held on 9 May 2024 appointed us as auditors of the Group for a period of 3 years, as from the year ended 31 December 2025. Services provided Services provided to the Group for services other than the audit of the accounts are disclosed in note 33.1 to the consolidated annual accounts. PricewaterhouseCoopers Auditores, S.L. (S0242) Original in Spanish signed by Álvaro Moral Atienza (21428) 26 February 2026
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GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES Consolidated Financial Statements and Consolidated Directors’ Report for the financial year ended 31 December 2025
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NOTE 1 2 2. a Breakdown of scope of consolidation 2. b Changes in the scope of consolidation 3 4 4. 1 True and fair view 4. 2 Comparison of information 4. 3 Basis of consolidation 4. 4 Going concern 4. 5 Argentina and Turkey hyperinflation adjustment 4. 6 Alternative management indicators 5 6 6. 1 Foreign currency transactions 6. 2 Property, plant and equipment 6. 3 Business combinations and consolidation goodwill 6. 4 Investment in associates 6. 5 Other intangible assets 6. 6 Financial assets 6. 7 Impairment losses on assets 6. 8 Assets and liabilities held for sale and discontinued operations 6. 9 Trade and other receivables 6. 10 Inventories 6. 11 Revenue recognition and assets from contracts with customers 6. 12 Government grants 6. 13 Financial liabilities (Suppliers, borrowings and others) 6. 14 Provisions and contingent liabilities 6. 15 Employee benefits 6. 16 Leases 6. 17 Derivative financial instruments 7 7. 1 Significant estimates 7. 2 Main accounting judgements 8 9 10 11 12 13 14 15 16 17 17. 1 Legal reserves of the Parent Company 17. 2 Distributable reserves of the Parent Company 17. 3 Availability of reserves at fully consolidated companies 17. 4 Approval of the Financial Statements and proposed distribution of profit 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 32. 1 Balances and transactions with Related Parties 32. 2 Board of Director´s Remuneration 32. 3 Senior Management's Remuneration 33 33. 1 Auditors´ fees 33. 2 Environmental matters and climate risk 34 34. 1 Financial risk factors 34. 2 Hedge accounting 34. 3 Valuation method (fair value estimate) 34. 4 Capital risk management 35 36 37 38 39 APPENDIX I APPENDIX II APPENDIX III CONTENTS Consolidated Statement of financial position Consolidated Statement of cash flow Consolidated Statement of changes in equity Consolidated Statement of comprehensive income Consolidated Statement of profit or loss Scope of consolidation Activity of Gestamp Automoción, S.A. and Subsidiaries Notes to the Consolidated Financial Statements Changes in accounting policies Summary of significant accounting policies Basis of presentation Business combinations Changes in significant accounting policies and estimates and restatement of errors Significant accounting estimates and criteria Intangible assets Segment reporting Financial assets Property, plant and equipment Trade and other receivables / Other current assets and liabilities / Cash and cash equivalents Assets from contracts with customers Inventories Translation differences Non-controlling interests Deferred income Borrowed funds Provision for employee compensations Provisions and contingent liabilities Capital, own shares and share premium Deferred taxes Trade and other payables Information on compliance with article 229 of the Spanish Companies Law Additional note for English translation Indirect investments Guarantors Assets and liabilities held for sale Information on payment deferrals to suppliers in trade operations Financial risk management Retained earnings Scope of consolidation Subsequent events Related Party transactions Commitments Other disclosures Financial income and financial expenses Earnings per share Corporate income tax Operating income Operating expenses
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6 Note December 31, 2025 December 31, 2024 10 575,590 575,829 Goodwill 142,504 142,644 Other intangible assets 433,086 433,185 11 5,082,701 5,173,203 Land and buildings 1,637,663 1,589,763 Plant and other PP&E 2,663,044 2,773,370 PP&E under construction and prepayments 781,994 810,070 12 83,835 92,453 Investments in associates accounted for using the equity method 13,306 17,291 Loans and receivables 9,874 5,153 Derivatives in effective hedges 41,321 54,882 Other non-current financial assets 19,334 15,127 24 612,045 579,452 6,354,171 6,420,937 36 5,077 43,660 13 542,562 584,562 Commodities and other consumables 485,900 537,828 By-products and scrap 1,088 710 Prepayments to suppliers 55,574 46,024 14 677,935 720,553 Work in progress 269,154 292,204 Finished products and by-products 168,207 175,863 Trade receivables, tooling 240,574 252,486 15 924,117 1,163,174 Trade receivables 661,172 893,333 Other receivables 19,662 26,525 Current income tax assets 38,545 43,113 Receivables from public authorities 204,738 200,203 15 190,588 168,289 12 239,679 227,670 Loans and receivables 8,263 6,773 Securities portfolio 203,540 186,607 Derivatives in effective hedges 3,583 1,727 Other current financial assets 24,293 32,563 15 1,106,542 1,157,120 3,686,500 4,065,028 10,040,671 10,485,965 (In thousands of euros) AT DECEMBER 31, 2025 AND DECEMBER 31, 2024 CONSOLIDATED STATEMENT OF FINANCIAL POSITION GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES ASSETS Non-current assets Intangible assets Property, plant and equipment Financial assets Inventories Assets from contracts with customers Deferred tax assets Total non-current assets Assets held for sale Current assets Other current assets Trade and other receivables Total assets Total current assets Cash and cash equivalents Financial assets
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7 Note December 31, 2025 December 31, 2024 16 287,757 287,757 16 (19,293) (20,192) 16 61,591 61,591 17 2,632,874 2,481,010 18 (728,507) (499,032) 17 (22,248) (27,488) 2,212,174 2,283,646 19 910,267 725,946 3,122,441 3,009,592 20 90,694 106,253 21 177,420 169,830 23 2,657,392 2,717,878 Interest-bearing loans and borrowings and debt issues 2,164,418 2,205,984 Derivative financial instruments 37,477 43,505 Other non-current financial liabilities 452,413 464,766 Other non-current liabilities 3,084 3,623 24 348,040 352,508 13,814 14,862 3,287,360 3,361,331 36 — 3,727 23 740,278 1,048,033 Interest-bearing loans and borrowings and debt issues 404,618 521,172 Derivative financial instruments 1,754 1,439 Other current financial liabilities 141,970 287,941 Other current liabilities 191,936 237,481 25 2,801,949 3,033,283 Trade accounts payable 2,406,350 2,640,853 Current tax liabilities 23,839 56,062 Other accounts payable 371,760 336,368 21 9,379 16,875 15 79,264 13,124 3,630,870 4,115,042 6,918,230 7,476,373 10,040,671 10,485,965 GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES EQUITY AND LIABILITIES (In thousands of euros) AT DECEMBER 31, 2025 AND DECEMBER 31, 2024 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Interim dividend Equity attributable to equity holders of the Parent Company Translation differences Non-current liabilities Deferred income Pasivos Equity Liabilities associated with assets held for sale Non trade liabilities Current liabilities Total non-current liabilities Deferred tax liabilities Other non-current liabilities Non-current provisions Non trade liabilities Retained earnings Treasury shares Share premium Capital and reserves attributable to equity holders of the Parent Company Issued capital Equity attributable to non-controlling interest Total equity Trade and other payables Current provisions Other current liabilities Total current liabilities Total liabilities Total equity and liabilities
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8 Note December 31, 2025 December 31, 2024 26 11,622,265 12,212,307 Revenue 11,348,605 12,000,976 Other operating income 301,840 188,583 Changes in inventories (28,180) 22,748 27 (11,075,843) (11,630,192) Raw materials and other consumables (7,035,141) (7,522,302) Personnel expenses (1,924,649) (1,955,362) Depreciation, amortisation, and impairment losses (760,914) (711,934) Other operating expenses (1,355,139) (1,440,594) 546,422 582,115 Financial income 28 36,558 25,630 Financial expenses 28 (231,658) (224,072) Exchange gains (losses) 28 (56,369) (29,885) Share of profit/(loss) from associates - equity method 12 3,614 2,825 Change in fair value of financial instruments 28 2,336 7,210Impairment and gain (loss) from disposal of financial instruments 28 (792) (2,071) Result of exposure to inflation 4.5 13,001 7,904 313,112 369,656 Income tax expense 29 (65,725) (85,008) 247,387 284,648 Profit (loss) attributable to non-controlling interest 19 (95,180) (96,158) 152,207 188,490 -Basic 30 0.27 0.33 From continuing operations 0.27 0.33 From discontinued operations — — -Diluted 30 0.27 0.33 From continuing operations 0.27 0.33 From discontinued operations — — GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE PERIOD ENDED DECEMBER 31, 2025 AND DECEMBER 31, 2024 OPERATING INCOME CONTINUING OPERATIONS (In thousands of euros) OPERATING EXPENSE OPERATING PROFIT/ (LOSS) PROFIT/ (LOSS) BEFORE TAXES FROM CONTINUING OPERATIONS Earnings per share (euros) PROFIT/ (LOSS) ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT COMPANY PROFIT/ (LOSS) FOR THE YEAR
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9 December 31, 2025 December 31, 2024 247,387 284,648 Other comprehensive income not to be reclassified to income in next years: Actuarial gains and losses 17 4,345 196 Other comprehensive income to be reclassified to income in next years: From cash flow hedges 23.b.1) (6,265) (25,004) Translation differences (249,901) 28,529 Attributable to Parent Company 18 (229,475) 39,244 Attributable to non-controlling interest 19 (20,426) (10,715) (4,434) 288,369 Attributable to: - Parent Company (79,195) 202,919 - Non-controlling interest 74,761 85,450 (4,434) 288,369 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED DECEMBER 31, 2025 AND DECEMBER 31, 2024 GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES (In thousands of euros) PROFIT/ (LOSS) FOR THE YEAR OTHER COMPREHENSIVE INCOME TOTAL COMPREHENSIVE INCOME NET OF TAXES
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6 AT JANUARY 1, 2025 287,757 (20,192) 61,591 2,481,010 (499,032) (27,488) 2,283,646 725,946 3,009,592 Profit/ (Loss) for the period — — — 152,207 — — 152,207 95,180 247,387 Fair value adjustments (Hedge) (Note 22.b.1)) — — — (6,265) — — (6,265) — (6,265) Variation in translation differences (Note 18) — — — — (229,475) — (229,475) (20,426) (249,901) Actuarial gains and losses — — — 4,338 — — 4,338 7 4,345 Total comprehensive income — — — 150,280 (229,475) — (79,195) 74,761 (4,434) Appropiation of 2024 profits — — — (27,488) — 27,488 — — — Dividends distributed by the Parent Company (Note 17.2) — — — (29,079) — (22,248) (51,327) — (51,327) Dividends distributed by subsidiaries (Note 19) — — — — — — — (73,854) (73,854) Treasury shares transactions (Note 16.b)) (Note 17.2) — 899 — 734 — — 1,633 — 1,633 Changes in the scope of consolidation — — — 59,170 — — 59,170 186,019 245,189 Variation in shareholding in companies with previous control (Note 2.b) — — — (9,568) — — (9,568) (2,004) (11,572) Compensation based on shares (Long-term incentive plan) (Note 25.b)) — — — 4,809 — — 4,809 — 4,809 Increase share capital of subsidiaries (Note 19) — — — — — — — 96 96 Long-term incentive plan — — — 3,308 — — 3,308 — 3,308 Other movements — — — (302) — — (302) (697) (999) AT DECEMBER 31, 2025 287,757 (19,293) 61,591 2,632,874 (728,507) (22,248) 2,212,174 910,267 3,122,441 Retained earnings (Nota 17) Share premium (Note 16) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED DECEMBER 31, 2025 (In thousands of euros) GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES Issued capital (Note 16) Treasury Shares (Note 16) Translation differences (Note 18) Interim Dividend (Note 17) Total capital and reserves Non-controlling interest (Note 19) Total Equity
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7 AT JANUARY 1, 2024 287,757 (11,934) 61,591 2,442,021 (538,276) (40,051) 2,201,108 660,260 2,861,368 Profit/ (Loss) for the period — — — 188,490 — — 188,490 96,158 284,648 Fair value adjustments (Hedge) (Note 23.b.1)) — — — (25,004) — — (25,004) — (25,004) Variation in translation differences (Note 18) — — — — 39,244 — 39,244 (10,715) 28,529 Actuarial gains and losses — — — 189 — — 189 7 196 Total comprehensive income — — — 163,675 39,244 — 202,919 85,450 288,369 Appropriation of 2023 profits — — — (40,051) — 40,051 — — — Dividends distributed by the Parent Company (Note 17.2) — — — (44,101) — (27,488) (71,589) — (71,589) Dividends distributed by subsidiaries — — — — — — — (44,395) (44,395) Treasury shares acquisitions (Note 16.b)) (Note 17.2) — (8,258) — (2,620) — — (10,878) — (10,878) Changes in the scope of consolidation — — — — — — — 1 1 Variation in shareholding in companies with previous control (Note 2.b) — — — (45,615) — — (45,615) 22,446 (23,169) Compensation based on shares (Long-term incentive plan) (Note 27.b)) — — — 7,880 — — 7,880 — 7,880 Increase share capital of subsidiaries (Note 19) — — — — — — — 1,590 1,590 Other movements — — — (179) — — (179) 594 415 AT DECEMBER 31, 2024 287,757 (20,192) 61,591 2,481,010 (499,032) (27,488) 2,283,646 725,946 3,009,592 GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES Total capital and reserves Interim Dividend (Note 17) Translation differences (Note 18) Total Equity Non-controlling interest (Note 19) Treasury Shares (Note 16) Issued capital (Note 16) Share premium (Note 16) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED DECEMBER 31, 2024 (In thousands of euros) Retained earnings (Nota 17)
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8 GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOW FOR THE PERIOD ENDED DECEMBER 31, 2025 AND DECEMBER 31, 2024 (In thousands of euros) Note December 31, 2025 December 31, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Profit/ (Loss) for the year before taxes 313,112 369,656 Adjustments to profit 994,224 924,393 Depreciation, amortisation and impairment of intangible assets and PP&E 10-11 760,914 711,934 Financial income 28 (36,558) (25,630) Financial expenses 28 231,658 224,072 Exchange rate differences 56,369 29,885 Share of profit/(loss) from associates - equity method 12 (3,614) (2,825) Change in fair value of financial instruments (2,336) (7,210) Impairment and gain (loss) from disposal of financial instruments 792 2,071 Result of exposure to inflation (13,001) (7,904) TOTAL EBITDA 1,307,336 1,294,049 Other adjustments to profit 14,561 (43,187) Change in provisions 21 559 (17,335) Grants released to income 20 (11,892) (8,266) Gain (loss) from disposal of intangible assets and PP&E 10,103 (6,595) Unrealized exchange rate differences 7,436 (19,060) Other income and expenses 8,355 8,069 Changes in working capital 136,944 126,357 (Increase)/Decrease in Inventories 13-14 74,424 (54,852) (Increase)/Decrease in Trade and other receivables 14-15 213,300 (100,421) (Increase)/Decrease in Other current assets 15 (14,875) (37,840) Increase/(Decrease) in Trade and other payables 25 (201,898) 310,865 Increase/(Decrease) in Other current liabilities 65,993 8,605 Other cash flows from operating activities (263,678) (305,314) Interest paid (214,860) (226,299) Interest received 36,557 25,630 Income tax received/(paid) (85,375) (104,645) Cash flows from operating activities 1,195,163 1,071,905 CASH FLOWS FROM INVESTING ACTIVITIES Payments on investments (1,019,922) (1,051,358) Group companies and associates (14,839) — Addition to consolidation scope 854 — Other intangible assets 10-23 (114,162) (110,485) Property, plant and equipment 11-23 (873,024) (845,382) Net change in financial assets (18,751) (95,491) Proceeds from divestments 73,849 13,939 Proceeds from sale of companies and group investments 2.b) — 7,227 Other intangible assets 10 760 — Property, plant and equipment 11 31,866 6,712 Assets held for sale 41,223 — Grants, donations and legacies received 20 (3,294) 19,546 Cash flows from investing activities (949,367) (1,017,873) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds and payments on equity instruments 196,720 (40,379) Payment to non-controlling interests from shareholding acquisition 2.b) - 19 (11,669) (23,169) Contribution of funds from non-controlling interests 19 245,556 1,590 Net change in non-controlling interests 19 (1,439) 598 Own shares 16 1,633 (10,878) Other movements in equity (37,361) (8,520) Proceeds and payments on financial liabilities 23 (331,081) 97,065 Issue 885,188 423,161 Bonds and other marketable securitites 500,000 — Interest-bearing loans and borrowings 279,419 343,591 Credit facilities, discounted bills, factoring and leasing 105,769 78,994 Other borrowings — 576 Repayment of (1,216,269) (326,096) Bonds and other marketable securitites (488,407) — Interest-bearing loans and borrowings (493,482) (196,363) Credit facilities, discounted bills, factoring and leasing (230,304) (126,958) Borrowings from related parties (1,902) (1,624) Other borrowings (2,174) (1,151) Payments on dividends and other equity instruments (111,209) (127,510) Dividends 17-19-23 (111,209) (127,510) Cash flows from financing activities (245,570) (70,824) Effect of changes in exchange rates (50,804) (2,921) NET INCREASE/ DECREASE OF CASH OR CASH EQUIVALENTS (50,578) (19,713)
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9 GESTAMP AUTOMOCIÓN, S.A. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AT 31 December 2025 Note 1. Activity of Gestamp Automoción, S.A. and Subsidiaries (hereinafter, the Group) The company GESTAMP AUTOMOCIÓN, S.A. (limited company), hereinafter the Parent, was incorporated on 22 December 1997. Its registered office is in Abadiano (Vizcaya, Spain), at the Lebario Industrial Estate. Its corporate purpose is to provide advisory and financing services and a link with the automobile industry for all its subsidiaries. Since 7 April 2017, the shares of the Parent Company have been listed in the Spanish Stock Exchanges of Madrid, Barcelona, Valencia and Bilbao. The Parent, in turn, forms part of a group headed by its majority shareholder, Acek Desarrollo y Gestión Industrial, S.L., and the companies forming such group perform significant commercial and financial transactions under the terms and conditions established among the parties on an arm’s length basis. Intra- Group and related -party transfer prices are duly documented in a transfer price dossier as stipulated by the prevailing legislation. The Group's subsidiaries centre their activities around the development and manufacture of metal components for the automotive industry via stamping, assembly, welding, tailor welded blanks, the construction of tools (moulds for the manufacture of parts) and machinery and the Group also has services companies and companies engaging in the research and development of new technologies. In addition, the companies of the Sideacero Subgroup centre their activity on the management of metal waste (iron and non-iron). Most of the Group’s activities are located in the Western Europe segment; the North America segment constitutes the second most significant geographic market, followed by the Eastern Europe segment in third place (Note 9). Group sales are concentrated across a limited number of customers due to the nature of the automotive industry. However, the Group supplies products globally to the top vehicle manufacturers by volume worldwide, and new customers are being added, in line with the Group's growth and diversification strategy. Note 2. Scope of Consolidation 2.a Breakdown of scope of consolidation Appendix I lists the companies forming the scope of consolidation, together with the consolidation method used, registered office, line of business, ownership interest (direct and indirect) and the auditors of such companies. Appendix II lists the companies that hold the indirect investments, corresponding to 31 December 2025 and 31 December 2024. No significant subsidiaries have been left out of the consolidation scope. The closing of the financial year for the companies included in the scope of consolidation is 31 December, with the exception of the following subsidiaries, whose financial years close on 31 March. However, an
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10 accounting close at 31 December was performed to include the financial statements of these companies in the Consolidated Financial Statements at 31 December 2025 and 31 December 2024: ✓ Gestamp Services India Private, Ltd. ✓ Gestamp Automotive India Private, Ltd. ✓ Gestamp Automotive Chennai Private Ltd. ✓ Gestamp Pune Automotive Private, Ltd. ✓ Gescrap India Private, Ltd. ✓ Edscha Aditya Automotive Systems Pvt, Ltd. The following German subsidiaries are included in these Consolidated Financial Statements using the full consolidation method and are exempt from the responsibility of auditing their financial statements and publishing their own consolidated accounts for 2025 in Germany, using the additional regulation of §264 (3) German Commercial Code: ➢ GMF Holding, GmbH (Bielefeld, Germany) ➢ Gestamp Umformtechnik, GmbH (Ludwigsfelde, Germany) ➢ Gestamp Wolfsburg, GmbH (Ludwigsfelde, Germany) ➢ Gestamp Griwe Westerburg, GmbH (Westerburg, Germany) (Griwe Subgroup) ➢ Gestamp Griwe Haynrode, GmbH (Haynrode, Germany) (Griwe Subgroup) ➢ Edscha Holding GmbH (Remscheid, Germany) ➢ Edscha Engineering GmbH (Remscheid, Germany) ➢ Edscha Kunststofftechnik GmbH (Remscheid, Germany) ➢ Edscha Automotive Hengersberg GmbH (Hengersberg, Germany) ➢ Edscha Automotive Hauzenberg GmbH (Hauzenberg, Germany) ➢ Edscha Mechatronics Solutions GmbH (Remscheid, Germany) ➢ Autotech Engineering Deutschland, GmbH (Bielefeld, Germany) ➢ Gescrap GmbH (Ichtershausen, Germany) There are no significant restrictions on the capability of accessing to or using the assets or settle the liabilities of the subsidiaries included in the consolidation scope. 2.b Changes in the scope of consolidation 2025 Business combination On 9 April 2025, the company Gescrap Recycling Siglo XXI, S.L. entered into a share purchase agreement for the acquisition of Industrias López Soriano, S.L., pursuant to which it acquired 100% of the share capital of that company for an amount of 3,000 thousand euros, plus a contingent consideration of up to 6,651 thousand euros, , as well as the cancellation of bank debt amounting to 11 million euros . Industrias López Soriano S.L. is, in turn, the parent company of several subsidiary companies (list of companies provided in Appendix I). This subgroup has been included in the consolidation scope by the full consolidation method (Note 3). Changes in ownership percentage ➢ On 28 January 2025, the partial divestment by COFIDES, S.A. S.M.E. was carried out in Gestamp Holding Rusia S.L. by which the controlling company acquired 5.618% of the share capital in said company.
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11 The purchase price of the shareholding amounted to 11,574 thousand euros. As this transaction involves a change in ownership interest while control is retained, the difference between the amount by which the non -controlling interest was adjusted (2,004 thousand euros (Note 19)) and the fair value of the consideration paid (11,574 thousand euros) has been recognised directly in equity (9,568 thousand euros (Note 17)). The translation differences previously allocated to non-controlling interests were assigned to the Group, for the percentage acquired, impacting the result of the transaction (which was recognised in reserves at fully consolidated companies) and decreasing the non -controlling interest by an additional 4,009 thousand euros. This amount is included in the line "Variation in translation differences" on the Consolidated Statement of Changes in Equity. ➢ Following the incorporation in May 2025 of the companies Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L. and Gestamp Real Estate Management 3, S.L., on 9 September 2025 a capital increase was formalised through the subscription and payment of new preferred shares in each of those companies, subscribed by Andromeda Principal Investments, S.L.U., a real -estate investment entity led by Banco Santander, S.A., acquiring a shareholding of less than 50% (24.92%, 43.89%, 37.41% and 36.19%, respectively). These entities had previously received, through the corresponding intra -group transactions, a portfolio of real-estate assets of the Group in Spain which, under lease agreements entered for this purpose, continue to be used in the operations of the subsidiaries that were previously their owners. The amount disbursed by the investor to acquire the minority interests totalled 245 million euros, through the acquisition of preferred shares granting the investor a discretionary preferred dividend distribution until a target return—equivalent to the return expected by an equity investor in the real estate market —agreed between the parties is achieved. The Group, in turn, retains a call option over these preferred interests, exercisable at any time, for an amount that would enable the investor to obtain such target return. With regard to the governance of the entities in which Andromeda Principal Investments, S.L.U. holds interests, the agreements entered into require its approval in the event of fundamental changes to their activity, amendments to the lease agreements with Group entities that continue to use the assets, and with respect to acquisitions, debt subscriptions and amendments to the business plan exceeding certain thresholds. The Group continues to control these entities insofar as such limits do not prevent it from unilaterally making the relevant decisions, together with the existence of the call option described in the preceding paragraph. The agreements also provide for the possibility of termination through the sale of the entities to third parties in the event of a breach by the Group, with the proceeds being allocated preferentially to Andromeda Principal Investments, S.L.U. should it not have achieved its target return with the amount initially attributable to its stake; however, the Group has no obligation to make any payment, even if the proceeds obtained from such sale were insufficient for the investor to reach that return. Given the discretionary nature of dividend payments and the existence of this termination mechanism, the contribution has also been classified for accounting purposes as an equity contribution, with the corresponding non -controlling interest recognized in the Group’s financial statements. See Note 19, which details both the balance sheet, and the income statement of the subsidiaries involved in this transaction.
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12 As of the transaction date, the Group recognized a liability of 4,295 thousand euros relating to the investor’s preferential right in the event of a third-party sale, and an asset of 8,177 thousand euros corresponding to the fair value of the call option, both accounted for as derivative instruments. These valuations were updated as of 31 December 2025, resulting in a liability of 2,808 thousand euros relating to the investor’s preferential right in the event of a third -party sale, and an asset of 8,903 thousand euros corresponding to the call option (Note 23.b)). This fair value update generated an impact of 2,212 thousand euros in the Group’s financial result (Note 28). The Group engaged an independent expert (Deloitte) to assess and value both instruments. Based on the aforementioned conditions, and in accordance with IAS 32, an amount of 186,864 thousand euros (Note 19) was recognized under Non -controlling Interests in the consolidated balance sheet, corresponding to the minority shareholder’s percentage interest over the carrying amount of the net assets of Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L. and Gestamp Real Estate Management 3, S.L.; and an amount of 62,478 thousand euros was recognized under Retained Earnings in the consolidated balance sheet for the difference between the cash received and the aforementioned amount of the recognized non -controlling interest, as the transaction constitutes an equity transaction involving a reduction in ownership interest without a loss of control. Inclusion in the scope of consolidation due to formation ➢ On 13 February 2025, Edscha Mecatrónica México, S.A. de C.V. was incorporated, 99.99% owned by the subsidiary Edscha Santander S.A., and the remaining 0.01% by the subsidiary Edscha Burgos, S.A. It has been added to the consolidation scope using the full consolidation method. ➢ On 22 July 2025, Gestamp Saltillo, S.A. de C.V. was incorporated, being 99.99% owned by Gestamp Cartera de México, S.A. de C.V. and 0.01% by Gestamp Puebla II, S.A. de C.V. It has been added to the consolidation scope using the full consolidation method. Exclusions from the consolidation scope and mergers ➢ On 1 January 2025, the merger of Gestamp Sorocaba Industria Autopeças Ltda. (absorbed company) into Gestamp Brasil Industria de Autopeças, S.A. (absorbing company) became effective. ➢ On 26 February 2025, the subsidiary Gestamp Auto Components Wuhan, Co. Ltd. was dissolved. ➢ On 21 July 2025, the liquidation and dissolution of Industrias Tamer, S.A. was completed. ➢ In the second quarter of 2025, the company Flycorp, S.L. was sold, the result of the transaction was immaterial and was recognised under the heading “Impairment and gain/(loss) on disposal of financial instruments” on the Consolidated Income Statement. ➢ On 30 July 2025, the merger of Recuperaciones Férricas Integrales, S.A. (absorbed company) into Recuperaciones Medioambientales Industriales, S.L. (absorbing company) was carried out. ➢ On 2 September 2025, the subsidiary Gescrap Rus, LLC was dissolved and extinguished. ➢ During December 2025, the merger by absorption of Gestamp New Energy Vehicle Components (Beijing) Co., Ltd. (absorbed company) into Gestamp Auto Components Beijing, Ltd (absorbing company) was carried out. ➢ On 29 September 2025, the merger of Gescrap Desarrollo, S.L. (absorbed company) into Gescrap, S.L. (absorbing company) became effective. ➢ On 12 December 2025, the liquidation of the subsidiary Gestión de Neumáticos de Aragón, S.A. was completed. ➢ In December 2025, the subsidiary Gestamp Tooling Services, AIE was dissolved and extinguished.
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13 2024 Changes in ownership percentage ➢ Under the December 2023 agreement formalised on 19 January 2024, Gescrap Desarrollo S.L. sold a stake for 25,000 Turkish lira in Gescrap Türkiye Metal Sanayi ve Ticaret Limited Şirketi to the minority shareholder Beyçelik Holding Anonim Şirketi, as a result of which the latter acquired 50% of the shares in that company. Subsequently, on 24 January 2024, following two capital increases completed by Gescrap Türkiye Metal Sanyi ve ticaret Limited Sirketi, the share capital rose to a total of 60,000 thousand Turkish lira. Since the transaction involved a change in the percentage of the ownership interest while retaining the control, the difference between the adjustment of the non -controlling interest and the fair value of the consideration paid was recognised directly in equity (1 thousand euros) (Note 19). ➢ On 1 December 2023, a purchase agreement was formalized whereby the Parent Company committed to acquiring 30% of the share capital of Gestamp North America, Inc., with the closing of the transaction being subject to obtaining authorization from the Mexican Federal Economic Competition Commission. During May 2024, following the approval of the operation by said Commission, the operation became effective, thus reaching 100% of the Group's participation. The purchase price of the interest acquired amounted to 23,169 thousand euros (25,000 thousand US dollars). Since the transaction involved a change in the ownership interest retaining the control, the difference between the adjustment of the non-controlling interest (-22,446 thousand euros) (Note 19) and the fair value of the consideration paid (23,169 thousand euros) was recognised directly in equity (-45,615 thousand euros) (Note 17). The translation differences previously allocated to non -controlling interests were assigned to the Group, for the percentage acquired, increasing the result of the operation (which was recognised in reserves at fully consolidated companies) and decreasing the non -controlling interest by an additional 23,929 thousand euros. This amount is included in the line "Variation in translation differences" in the Consolidated Statement of Changes in Equity. Inclusion in the scope of consolidation due to formation ➢ Gescrap Slovenia d.o.o, an investee wholly owned by Gescrap Desarrollo S.L., was incorporated in the first six months of 2024. It has been included in the consolidation scope using the full consolidation method. ➢ On 8 April 2024, EPL Georgia LLC was incorporated and is wholly owned by Edscha Pha Ltd. It has been included in the consolidation scope using the full consolidation method. ➢ On 3 June 2024, Gestamp Leasing USA, LLC. was incorporated and is wholly owned by Edscha Michigan, Inc. It has been included in the consolidation scope using the full consolidation method.
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14 ➢ On 24 July 2024, Gestamp Tooling USA, Inc. was incorporated and is wholly owned by Gestamp Global Tooling S.L. It has been included in the consolidation scope using the full consolidation method. ➢ On 26 December 2024, the company Gescrap Recycling Siglo XXI, S.L. was established, with Sideacero S.L. holding an 80% stake and Gescrap S.L.U. holding 20%. It has been included in the consolidation scope using the full consolidation method. ➢ At the end of December 2024, Gescrap France purchased 50% of the capital of Centre Recuperation Libournais, incorporating this company into the scope of consolidation using the equity method. Exclusions from the consolidation scope ➢ On 18 June 2024, the subsidiary Gestamp Holding Hamilton, Inc. was dissolved. ➢ On 9 October 2024, the sale agreement for Gestamp Togliatti Llc and Edscha Togliatti LLc was signed, an operation that is considered final on 26 December with the collection of the sale price amounting to 762,500 thousand rubles (7,227 thousand euros). The result of this disposal was a loss of 2,071 thousand euros, which is included under the heading “Impairment and gain/(loss) on disposal of financial instruments”, as well as 7,692 thousand euros recognised under Exchange differences in the consolidated income statement after transferring to profit or loss the accumulated translation differences for the companies up to the date of exit from the scope. Note 3. Business Combinations 2025 Industrias López Soriano, S.L. On 09 April 2025, the company Gescrap Recycling Siglo XXI, S.L. signed a business purchase agreement, through which it acquired 100% of the share capital in Industrias López Soriano, S.L., for the amount of 3,000 thousand euros. This was recognised as an earn -out and other contingent payments of 6,651 thousand euros. Additionally, an intragroup loan was granted to facilitate the repayment of bank debt totalling EUR 11,839 thousand. As a result, goodwill on consolidation amounting to 246 thousand euros was achieved. Industrias López Soriano S.L. is, in turn, the parent company of several subsidiary companies whose main activity is waste management and recycling of steel products. The fair value of the assets and liabilities of Industrias López Soriano, S.L. and its subsidiaries at the acquisition date was as follows:
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15 Net turnover and profit attributable to the business combination from the acquisition date to 3 1 December 2025 amounted to 21,282 thousand euros and 631 thousand euros, respectively. If the business combination had taken place at the beginning of the financial year 2025, the Industrias López Soriano Group would have contributed approximately 32,681 thousand euros in net turnover and 201 thousand euros in EBITDA. The number of employees from this business unit added to the Group is approximately 188 people. There were no significant costs associated with this transaction. 2024 No business combinations took place during the period. Note 4. Basis of presentation 4.1. True and Fair View The Consolidated Financial Statements of the Group as at 31 December 2025 have been prepared in accordance with International Accounting Standard IAS 34 - Interim Financial Statements and International Financial Reporting Standards (IFRS) as adopted by the European Union, approved by the European Commission regulations in force at 31 December 2025. The Consolidated Financial Statements have been prepared based on the auxiliary accounting records as of 31 December 2025 and 31 December 2024, for each of the companies that make up the Group. Each company prepares its Financial Statements in accordance with the accounting principles and standards in force in the country in which it operates; the required adjustments and reclassifications were made in the consolidation process in order to harmonise the policies and methods used to adapt them to IFRS. Thousand of euros Intangible assets (Note 10) 115 Property, plant and equipment (Nota 11) 15,516 Non-current financial assets (Note 12.a)) 127 Assets hel for sale (note 32) 6,367 Inventories (Note 13) 1,718 Trade receivables 6,020 Other current assets 7,424 Cash and cash equivalents 854 38,141 Other non-current liabilities 587 Other current liabilities 854 Trade accounts payable 11,532 Provisions and others 3,772 Non-controlling interests (Note 19) 152 16,897 Net assets 21,244 Percentage of direct shareholding acquired 100 % Attributable net assets 21,244 Total consideration 14,839 Earn out and other contingent payments 6,651 Net effect of the business combination (Goodwill) (Note 10.a)) (246)
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16 The figures contained in these Consolidated Financial Statements are expressed in thousands of euros, unless otherwise indicated and, consequently, they may be rounded off. 4.2. Comparison of information As explained in Note 2.b and 3, Industrias López Soriano joined the Group in 2025. Finally, the following companies were incorporated during the year by way of incorporation: Edscha Mecatrónica México, S.A., Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L., Gestamp Real Estate Management 3, S.L. and Gestamp Saltillo, S.A. de C.V. and the following companies were dissolved: Gestamp Auto Components Wuhan Co., Ltd., Industrias Tamer, S.A., Gestamp Tooling Services, AIE, Gescrap Rus, LLC and Gestión de Neumáticos de Aragón, S.A. In addition, the company Flycorp, S.L. was sold. As explained in Note 2.b and 3, no business combinations took place in 2024. Finally, in 2024 the companies Gestamp Leasing USA, LLC, EPL Georgia LLC, Gestamp Tooling USA, Inc., Gescrap Slovenia d.o.o. and Gescrap Recycling Siglo XXI, S.L., were merged, and Gestamp Holding Hamilton, Inc. was dissolved. Additionally, at the end of the year, the companies Gestamp Togliatti Llc and Edscha Togliatti Llc were sold. 4.3. Basis of consolidation The Consolidated Financial Statements comprise the financial statements of the Parent Company and its subsidiaries at 31 December 2025. The Group controls a subsidiary if and only if the Group in turn: ➢ Power over the subsidiary (rights that give the ability to direct the relevant activities of the subsidiary) ➢ Exposure, or rights to variable returns from its involvement in the subsidiary and ➢ The ability to use its power over the subsidiary to affect the said variable returns. When the Group does not hold the majority of voting rights or similar rights of the subsidiary, the Group considers all relevant facts and circumstances to assess the existence of control. This includes: ➢ Contractual agreements with other investors holding voting rights of the subsidiary ➢ Rights arisen from other contractual agreements ➢ Potential voting rights of the Group ➢ Power over relevant activities of the subsidiary When facts and circumstances indicate changes in one or more elements determining control over a subsidiary, the Group reassesses the existence of control over such subsidiary (Note 7). Subsidiaries are fully consolidated from the acquisition date, when the Group obtains control, and continue to be consolidated until the date when such control ceases. If the Group loses or relinquishes control of a subsidiary, the Consolidated Financial Statements include that subsidiary’s results for the portion of the year during which the Group held control thereover. The financial statements of the subsidiaries have the same closing date as the Parent Company, except for the companies mentioned in Note 2.a. Said companies have an additional closing for the financial year for
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17 their inclusion in the Consolidated Financial Statements, being elaborated with the same accounting policies in a uniform and coherent procedure. The profit or loss of a subsidiary company is attributed to non -controlling interests, even if it involves recording a debit balance with them. Changes in shareholding percentage that do not mean loss of control are reflected as an equity transaction. When the Group loses control of a subsidiary: ➢ The Group derecognises the assets (including goodwill) and liabilities of the subsidiary. ➢ Derecognises the carrying amount of non-controlling interests. ➢ Derecognises translation differences taken to equity. ➢ Recognises the fair value of the consideration received for the transaction. ➢ Recognises the fair value of any retained investment. ➢ Recognises any excess or deficit in the Consolidated Income Statement. ➢ Reclassifies the shareholding of the Parent Company in the items previously registered in Other Comprehensive Income to profit or to retained earnings, as appropriate. Subsidiaries The full consolidation method is used for companies included in the consolidation scope, controlled by the Parent Company, in accordance with the definition included at the beginning of this section. Associates Investments in which the Group has significant influence, but not control have been consolidated under the equity method. Significant influence is the power to participate in the financial and operating policy decisions of the subsidiary but it does not imply control or joint control on those policies. Considerations to make in order to decide whether there is significant influence are similar to those made to decide whether there is control over a subsidiary. For the purposes of preparing these Consolidated Financial Statements, significant influence is deemed to exist in those companies in which the Group, directly or indirectly, holds over 20% of the investment, and in certain instances in which the Group’s holding is lower, but significant influence can be clearly demonstrated. Translation of financial statements of foreign companies The assets and liabilities and income statements of companies included in the Consolidated Financial Statements whose functional currency is different from the presentation currency, are translated to euros using the closing foreign exchange rates method as follows: ➢ All assets, rights, and liabilities of foreign operations are translated at the exchange rate prevailing at the closing date of the Consolidated Financial Statements. ➢ Income and expenses are translated using the average exchange rate, as long as that average is a reasonable approximation of the cumulative effect of the actual exchange rates prevailing at the transactions dates and except for hyperinflationary economies (Note 4.5). The differences between the net carrying amount of equity of the foreign companies converted using historical exchange rates, including the result net of taxes from the Income Statement, and the net carrying amount of equity resulting from the conversion of assets, liabilities, and equity using the exchange rate prevailing at the Consolidated Balance Sheet date, are recorded as "Translation differences" in the "Equity - Translation Differences" section of the Consolidated Balance Sheet (Note 18), with the corresponding negative or positive sign.
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18 Exchange gains and losses due to the impact of changes in the functional currency relative to the euro on foreign currency borrowings considered permanent are taken directly to equity under “Translation differences”, net of tax effect. Said reclassification at 31 December 2025 represents a decrease in translation differences amounting to 30.2 million euros (an increase of 38.1 million euros in translation differences at 31 December 2024). Permanent financing transactions are considered to be intragroup loans to subsidiaries whose repayment is not foreseen and are therefore treated as equity. The effect of the change in exchange rates when presenting the Consolidated Statement of Cash Flows using the indirect method has been calculated taking into account an average of the year for Cash and cash equivalents and the change in exchange rates has been applied at the end of each of the years. Transactions between companies included in the consolidation scope The following transactions and balances were eliminated upon consolidation: ➢ Reciprocal receivables/payables and expenses/income relating to intra-Group transactions. ➢ Income from the purchase and sale of property, plant and equipment and intangible assets as well as unrealised gains on inventories, if the amount is significant. ➢ Intra-Group dividends and the debit balance corresponding to interim dividends recognised at the company that paid them. Non-controlling interests The value of non -controlling interests in the equity and profit (loss) for the year of consolidated subsidiaries is recognised in Non -controlling interests in Equity in the Consolidated Balance Sheet and in Non-controlling interests in the Consolidated Income Statement and Consolidated Statement of Comprehensive Income, respectively. 4.4. Going concern The Directors of the Parent Company have prepared these Consolidated Financial Statements in line with the going concern principle, on the basis that there is no reason to doubt the Group's business continuity. The Group has sufficient financing in place to fund its operations. The outstanding balance at 31 December 2025 of the Gross Financial Debt obtained by the Group amounted to 3,163.4 million euros (3,479.9 million euros at 31 December 2024) (Note 4.6.), of which 83% matures at over 12 months (77% at 31 December 2024). At 31 December 2025, the Group has cash and cash equivalents totalling 2,470.7 million euros (31 December 2024: 2,088.1 million euros) to manage its working capital needs, broken down as follows:
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19 4.5. Argentina and Türkiye hyperinflation adjustment Since all the inflation indicators for Argentina and Türkiye point to cumulative inflation in three years exceeding 100%, and there are no qualitative matters to mitigate the situation, Argentina must be considered to be a hyperinflationary economy from 1 July 2018, as must Türkiye from 1 April 2022, so IAS 29 “Financial Reporting in Hyperinflationary Economies”, applies, requiring the Consolidated Financial Statements to be expressed in terms of the current measurement unit on the date of the year reported. This restatement of accounting values was carried out as follows: ➢ Separation and identification of all balance sheet items between monetary and non-monetary. The monetary items are cash and the balances receivable or payable in Argentine pesos and Turkish lira, including the assets from customer contracts. The non -monetary items are intangible assets, property, plant and equipment, tooling and other similar assets. The income statement and equity items are also deemed to be non -monetary items for the purposes of calculating hyperinflation. No significant items measured at current cost were identified. ➢ Non-monetary assets and liabilities: These assets were recognised at cost from their acquisition date. These items are restated from their acquisition date, multiplying the carrying amount at historical cost by the index obtained as a result of dividing the index at year -end by the index at the acquisition date. ➢ Income and expenses: These items were restated in line with the performance of the price index from the date on which they were recognised until the period-end date. ➢ The conversion to euros of the consolidated income statement of Argentine and Turkish companies in the Consolidated Financial Statements has been done at the closing exchange rate. ➢ Calculation and recognition of the deferred taxes arising from the change in accounting values with respect to tax values. The index used for the restatement of Argentine companies was a synthetic index. To restate the balances prior to 31 December 2016, the wholesale price index was used and, from 1 January 2017, the National Consumer Price Index was used. The index used for the restatement of Turkish companies was the New Consumer Price Index (2003=100) published by the Turkish Statistical Institute. The comparative figures in the Consolidated Financial Statements at 31 December 2018, with respect to the companies in Argentina were those of the previous year, that is, they are not adjusted by hyperinflation nor will they be adjusted for subsequent changes in the level of prices or exchange rates in
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20 subsequent years. This gave rise to differences between equity at the end of the 2017 and equity at the beginning of 2018 and, as an accounting policy option, these changes were presented in the Translation Differences heading. Also, the comparative figures in the Consolidated Financial Statements at 31 December 2022, with respect to the companies in Türkiye were those of the previous year, that is, they were not adjusted by hyperinflation nor will they be adjusted for subsequent changes in terms of prices or exchange rates in subsequent years. This gave rise to differences between equity at the end of the 2021 and equity at the beginning of 2022 and, as an accounting policy option, these changes were presented in the Translation Differences heading. The cumulative effect on the Consolidated Financial Statements as of 31 December 2025 of the inflation adjustment made in the manner described in the previous paragraphs has been as follows: Balance-sheet accounts with a positive sign relate to receivable balances and the negative sign to payable balances. Income statement accounts with a positive sign relate to expenses and the negative sign to income. (*) Includes the effects of hyperinflation adjustment on Gestamp Córdoba, S.A. and Gestamp Baires, S.A. Property, plant and equipment (Note 11) 50,002 124,207 174,209 63,915 113,336 177,251 Intangible assets (Note 10.b)) 15 4,259 4,274 29 4,168 4,197 Other current assets and liabilities — 8,096 8,096 — (5,131) (5,131) Deferred tax assets — — — — (3,151) (3,151) Deferred tax liabilities (17,506) — (17,506) (22,381) — (22,381) EFFECT NON-M ONETARY ASSETS AND LIABILITIES Asset increase/(Asset decrease) 32,511 136,562 169,073 41,563 109,222 150,785 Revenue 6,321 9,528 15,849 (15,964) (80,565) (96,529) Cost of materials used (3,402) 7,174 3,772 6,947 76,070 83,017 Personnel expenses (3,052) (11,744) (14,796) 5,227 (4,384) 843 Other operating expenses 451 (1,744) (1,293) 3,430 5,117 8,547 EFFECT ON EBITDA Loss/ (Profit) 318 3,214 3,532 (360) (3,762) (4,122) Depreciation and amortisation and impairment 5,034 15,306 20,340 5,906 14,760 20,666 Finance income 165 243 408 (696) (767) (1,463) Finance expenses (339) (1,240) (1,579) 1,474 654 2,128 Exchange gains (losses) (275) 131 (144) (500) 2,310 1,810 Income tax 1,248 8,627 9,875 5,094 (8,288) (3,194) Result of exposure to inflation 3,103 (16,104) (13,001) 6,638 (14,542) (7,904) EFFECT ON RESULTS FOR THE YEAR Loss/(Profit) 9,254 10,177 19,431 17,556 (9,635) 7,921 EFFECT ON RESERVES Decrease equity/(Increase equity) 54,462 (5,477) 48,985 36,906 4,158 41,064 P R IOR EF F EC T ON T R A N SLA T ION D IF F ER EN C ES D ecrease equity/ (Increase equity) (96,227) (141,262) (237,489) (96,025) (103,745) (199,770) Effect non-controlling interests due allocation of translation differences (577) (70,632) (71,209) (573) (51,873) (52,446) Effect non-controlling interests due allocation of income and expenses 49 5,089 5,138 100 (4,818) (4,718) Effect non-controlling interests due allocation of reserves 351 (2,738) (2,387) 248 2,080 2,328 EFFECT ON NON-CONTROLLING INTEREST Decrease equity/(Increase equity) (177) (68,281) (68,458) (225) (54,611) (54,836) T OT A L EF F EC T ON T R A N SLA T ION D IF F ER EN C ES D ecrease equity/ (Increase equity) (Note 18) (95,650) (70,630) (166,280) (95,452) (51,872) (147,324) T OT A L EF F EC T ON IN C OM E A N D EXP EN SES Lo ss/ (P ro fit) 9,205 5,088 14,293 17,456 (4,817) 12,639 EF F EC T ON R ESER VES D ecrease equity/ (Increase equity) 54,111 (2,739) 51,372 36,658 2,078 38,736 Turkey (**)Argentina (*) 31-12-2025 Total 31-12-2024 Turkey (**)Argentina (*) Total
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21 (**) Includes the effects of hyperinflation adjustment on Beyçelik Gestamp Otomotive Sanayi, A.S., Beyçelik Gestamp Teknoloji Kalip, A.S., Çelik Form Otomotiv, A.S. and Beyçelik Gestamp Sasi Otomotive, L.S. 4.6. Alternative management indicators Together with the indicators given in the IFRS, the Group uses a set of alternative management indicators, since it considers that they help in the decision -making process and economic -financial situation and are widely used by investors, financial analysts and other stakeholders. These indicators are not defined by IFRS and thus may not be directly comparable with other similar indicators used by other companies. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) EBITDA is an alternative management indicator because it provides useful information regarding the plants' ability to generate operating results (before financial expenses, taxes and amortisation), segments and the Group as a whole, and it is one of the indicators used by lenders to measure our financial capacity, on comparing it with debt. EBITDA represents the operating profit before depreciation, amortisation and impairment losses. It is calculated as the difference between two aggregates defined under IFRS, without performing any adjustments thereto. The calculation of EBITDA at 31 December 2025 and 31 December 2024 is as follows: Pro forma EBITDA as at 31 December 2025 and 31 December 2024, excluding the impact of IFRS 16, which has been applied since 1 January 2019, i.e. eliminating the effect of depreciation of right -of-use assets (Note 11) and reimbursing the rental expenses, would amount to 1,221,175 thousand euros and 1,195,661 thousand euros, respectively. The calculation of EBITDA at 31 December 2025 and 31 December 2024, based on the information contained in the Consolidated Statement of Cash Flows was as follows: 31-12-2025 31-12-2024 Operating profit 546,422 582,115 Amortisation, and impairment losses 760,914 711,934 EBITDA 1,307,336 1,294,049 Thousands of euros 31-12-2025 31-12-2024 313,112 369,656 994,224 924,393 Amortisation and impairment of intangible assets and PP&E 760,914 711,934 Financial income (36,558) (25,630) Financial costs 231,658 224,072 Exchange gain (losses) 56,369 29,885 Share of profit/(loss) from associates - equity method (3,614) (2,825) Change in fair value of financial instruments (2,336) (7,210) Impairment and gain (loss) from disposal of financial instruments 792 2,071 Inflation exposure result (13,001) (7,904) TOTAL EBITDA 1,307,336 1,294,049 Thousands of euros Adjustments to profit Profit for the year before taxes
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22 The EBITDA / Revenue ratio, an indicator used to assess business profitability obtained by dividing EBITDA by net turnover, amounted to 11.5% as at 31 December 2025 (10.8% as at 31 December 2024). EBIT (Earnings Before Interest and Taxes) EBIT is the Operating Profit. The EBIT/Revenue ratio, the indicator to evaluate business profitability obtained by dividing EBIT by the net turnover, reached 4.8% at 31 December 2025 (4.9% at 31 December 2024). CAPEX The Group uses the CAPEX as an alternative management indicator, since it provides significant information on the investment decisions performed by the Group, and it is also related with the financing of operations. CAPEX is calculated by adding the additions to other intangible assets and to property, plant and equipment. The calculation of CAPEX at 31 December 2025 and 31 December 2024 is as follows (Note 10.b and Note 11): Net Financial Debt Net Financial Debt provides useful information with regard to the level of debt held by the Group related with compliance with financial obligations (“covenants”), and the changes therein relate to cash generation before lending transactions more directly than the changes in gross debt. The calculation of the Net Financial Debt at 31 December 2025 and 31 December 2024 is as follows (Note 23): 31-12-2025 31-12-2024 Additions to Other intangible assets 117,385 126,447 Additions to Property, plant and equipment 782,911 825,564 900,296 952,011 Thousands of euros 31-12-2025 31-12-2024 Interest-bearing loans and borrowings and debt issues 2,569,036 2,727,156 Payables on leases 463,220 461,215 Borrowings from related parties 15,766 17,934 Other borrowings 115,397 273,558 Gross Financial Debt (Note 23 and Note 4.4) 3,163,419 3,479,863 Current financial assets (236,096) (225,943) Cash and cash equivalents (1,106,542) (1,157,120) Subtotal (1,342,638) (1,383,063) Net financial debt 1,820,781 2,096,800 Thousands of euros
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23 The EBITDA/Revenue ratio, an indicator to evaluate business profitability, obtained by dividing the EBITDA by the net amount of turnover, amounts to 1 1.5% as of 31 December 202 5 (10.8% as of 31 December 2024). EBIT (Earnings Before Interest and Taxes) EBIT is the Operating Profit. The EBIT/Revenue ratio, an indicator to evaluate business profitability, obtained by dividing the EBIT by the net amount of turnover, amounts to 4.8% as of 31 December 2025 (4.9% as of 31 December 2024). CAPEX The Group uses the CAPEX as an alternative management indicator, since it provides significant information on the investment decisions performed by the Group, and it is also related with the financing of operations. CAPEX is calculated by adding the additions to other intangible assets and to property, plant and equipment. The calculation of the CAPEX at 31 December 2025 and 31 December 2024 is as follows (Notes 10.b) and 11): Net Financial Debt Net Financial Debt provides useful information with regard to the level of debt held by the Group related with compliance with financial obligations (“covenants”), and the changes therein relate to cash generation before lending transactions more directly than the changes in gross debt. The calculation of the Net Financial Debt at 31 December 202 5 and 31 December 2024 is as follows (Note 23): 31-12-2025 31-12-2024 Additions to Other intangible assets 117,385 126,447 Additions to Property, plant and equipment 782,911 825,564 900,296 952,011 Thousands of euros 31-12-2025 31-12-2024 Interest-bearing loans and borrowings and debt issues 2,569,036 2,727,156 Payables on leases 463,220 461,215 Borrowings from related parties 15,766 17,934 Other borrowings 115,397 273,558 Gross Financial Debt (Note 23 and Note 4.4) 3,163,419 3,479,863 Current financial assets (236,096) (225,943) Cash and cash equivalents (1,106,542) (1,157,120) Subtotal (1,342,638) (1,383,063) Net financial debt 1,820,781 2,096,800 Thousands of euros
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24 Pro forma net financial debt as at 31 December 2025 and 31 December 2024, excluding the impact of the application of IFRS 16, i.e. excluding right-of-use liabilities, would amount to 1,392,427 thousand euros and 1,682,854 thousand euros, respectively. Free cash flow Free cash flow is an alternative management indicator, as it provides useful information about the Group’s ability to generate cash. This is defined as the variation in net debt, excluding that arising from acquisitions or disposals of shareholdings, adjusted for cash contributed or received in acquisitions or disposals of shareholdings (including non-controlling interests), dividend payments, and the impact of foreign exchange differences, hyperinflation and translation. The calculation of Free cash flow at 31 December 2025 and 31 December 2024 is as follows: (*) Since 1 January 2025, the impact of exchange differences, hyperinflation and translation has been excluded from the calculation of Free Cash Flow, and therefore this impact has been considered in the comparative figures as of 31 December 2024. Leverage Ratio The Group uses leverage, or the leverage ratio, as an indicator to monitor solvency. It is calculated as net financial debt divided by EBITDA accumulated over the last 12 months, amounting to 1.4 as at 31 December 2025 (1.6 as at 31 December 2024). Return on capital employed (ROCE) The Group uses ROCE as an indicator of the efficiency with which capital is used to generate profits. ROCE is calculated as EBIT (adjusted for market conditions) divided by capital employed, minus growth CAPEX in the last 1.5 years. 31-12-2025 31-12-2024 276,019 (38,841) Net financial debt prior year (2,096,800) (2,057,959) Net financial debt current year (1,820,781) (2,096,800) (14,839) 7,227 854 — (11,669) (23,169) 245,556 1,590 (111,209) (127,510) 167,326 103,021 (82,517) (44,134) 249,843 147,155Free Cash Flow Foreing exchange impacts (*) Free Cash Flow before foreing exchange impacts Capital contribution from non-controlling shareholders Dividends paid Incorporation of cash and cash equivalents business combinations Payment to non-controlling interests for purchase of shares Purchase of companies and group shareholdings excluding: Change in net financial debt Thousands of euros
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25 Capital employed is determined as total assets minus current liabilities, adjusted for balance sheet items that do not affect EBIT and for non -recurring events. The most significant adjustment relates to the amount received from the investor Andromeda Principal Investments S.L.U., as described in Note 2.b). The main asset items subject to adjustment include financial investments, balances with public authorities, deferred tax assets and cash. With respect to current liabilities, the principal adjustments correspond to financial debt and balances with public authorities. Growth CAPEX comprises expenditure dedicated to new investments (including both greenfield initiatives and new projects), intangible assets, and new right-of-use a ssets arising from lease agreements. The calculation of ROCE at 31 December 2025 and 31 December 2024 is as follows: Note 5. Changes in accounting policies a) Standards and interpretations approved by the European Union and applied for the first time during the period IAS 21 (Amendment) “Lack of Convertibility” This amendment specifies the requirements to assist entities in determining whether a currency is exchangeable into another currency and the spot exchange rate to be used when it is not. The Group was not affected by the implementation of this amendment. b) Standards and interpretations issued by the IASB, but not applicable in this period, or they have not been approved by the EU Standard, interpretation or amendment IASB application date (*) Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) 1 January 2026 Renewable electricity contracts (Amendments to IFRS 9 and IFRS 7) 1 January 2026 IFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 Annual Improvements to IFRS Accounting Standards, Volume 11. 1 January 2026 (*) Pending adoption by the European Union at the date of these financial statements 31-12-2025 31-12-2024 Total adjusted Assets 7,332,906 7,958,271 Total adjusted Current Liabilities (2,951,866) (3,161,989) Capital employed 4,381,040 4,796,282 CAPEX growth last 18 months (734,944) (802,655) Capital employed - CAPEX last 18 months 3,646,096 3,993,627 Adjusted EBIT 575,783 600,115 ROCE 15.8 % 15.0 % Miles de euros
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26 The Group is currently analysing the impact that the adoption of these new pronouncements will have on its consolidated financial statements at the date of initial application. In particular, IFRS 18 will replace IAS 1 Presentation of Financial Statements and introduces, among other aspects, new requirements for presentation within the statement of profit or loss, including new totals and subtotals. IFRS 18 and all amendments derived from it are effective for periods beginning on or after 1 January 2027, with retrospective application required. The Group is currently working to identify the impacts that these new criteria will have on the primary financial statements and on the notes to the financial statements. Our preliminary analysis suggests that the adoption of IFRS 18 will mainly affect the presentation of items in the income statement, without resulting in changes to their recognition or measurement. Note 6. Summary of significant accounting policies As stated in Note 4.1, the Group has applied the accounting policies in accordance with IFRS and adopted by the European Commission for application in the European Union (EU -IFRS). In this regard, only the policies considered significant in view of the nature of the Group's activities are detailed below, as are the policies adopted in preparing these Consolidated Financial Statements in the event that there is an option permitted by IFRS or, where applicable, due to the specific nature of the sector in which it operates. 6.1. Foreign currency transactions Functional and presentation currency Line items included in the financial statements of each entity are valued using the functional currency of the primary economic environment in which it operates. The Consolidated Financial Statements are presented in thousands of euros, and the Euro is the Group's presentation currency and the functional currency of the Parent Company. Transactions in foreign currency other than the functional currency of each company Transactions in foreign currencies different to the functional currency of each company are translated to the Group's functional currency at the exchange rate prevailing at the date of the transaction. Exchange gains and losses arising on the settlement of these transactions or on translating foreign currency denominated monetary assets and liabilities at closing rates are recognised in the Consolidated Income Statement. 6.2. Property, plant and equipment Property, plant and equipment is carried at either acquisition, transition cost to IFRS (1 January 2007), or production cost, including all the costs and expenses directly related with assets acquired until ready for use, less accumulated depreciation and any impairment losses. Land is not depreciated and is presented net of any impairment charges. At the date of transition to EU -IFRS (1 January 2007), all property, plant and equipment was measured at fair value at that date on the basis of a report by an independent expert, which led to a revaluation of the Group's assets (Note 11). The carrying value of Property plant, and equipment acquired by means of a business combination is measured at its fair value, determined by an independent expert at the moment of its incorporation into the Group (Note 6.3). Specific spare parts: certain major parts of some items of Property, plant and equipment may require replacement at irregular intervals. The cost of these parts is capitalised when the part is replaced and
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27 depreciated over their estimated useful lives. The net carrying amount of replaced parts is retired with a charge to income when the replacement occurs. An item of property, plant and equipment is retired upon disposal or when no future economic benefits are expected from its use or disposal. 6.3. Business combinations and consolidation goodwill Business Combinations Business combinations are accounted for using the acquisition method. The acquisition cost is the sum of the total consideration transferred, measured at fair value at the acquisition date, and the amount of non- controlling interest of the acquired company, if any. For each business combination, the Group measures the non -controlling interest in the acquiree either at fair value or at the proportionate share of the acquiree’s identifiable net assets. The related acquisition costs are recognised when incurred under Other Operating Expenses. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of the implicit derivatives of the main contracts of the acquired company. Consolidation goodwill Goodwill acquired in a business combination is initially measured, at the time of acquisition, at cost, that is, the excess of the total consideration paid for the business combination over the Parent Company’s interest in the net fair value of the identifiable assets, liabilities, and contingent liabilities of the acquired business. Goodwill arising on acquisitions of businesses whose functional currency is not the euro is updated at the closing rate, and the difference between the opening and closing balance in euros is recognised in translation differences. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment annually or more frequently if events or changes in circumstances indicate that the carrying amount may be impaired. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s Cash -Generating Units or Groups of Cash -generating Units (Note 6.7) expected to benefit from the business combination’s synergies, irrespective of any other Group assets or liabilities assigned to those units or groups of units. Impairment is determined by assessing the recoverable amount of the Cash -Generating Unit or groups of Cash-Generating Units to which the goodwill relates. If the recoverable amount of the cash-generating unit or group of cash -generating units is less than the carrying amount, the Group recognises an impairment loss (Note 6.7). 6.4. Interests in associates The Group has equity interests in associates, which are companies over which the Group has significant influence.
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28 The Group records its interest in associates using the equity method. 6.5. Other intangible assets Research and development costs Research costs are expensed as incurred. Development expenditure is capitalised when the Group can demonstrate: ➢ The technical feasibility of completing the intangible asset so that it will be available for use or sale. ➢ Its intention to complete and its ability to use or sell the resulting asset. ➢ Its ability to use or sell the intangible asset. ➢ The economic and commercial profitability of the project is reasonably ensured. ➢ The availability of adequate technical and financial resources to complete and to use or sell the resulting asset. ➢ Its ability to measure reliably the expenditure during development. Capitalised development expenses are amortised on a straight -line basis, over the period in which it is expected to obtain income or profits from the aforementioned project, which does not exceed 6 years. Concessions, patents, licences, trademarks, et al. These intangible assets are initially measured at acquisition cost. They are assessed as having a finite useful life and are accordingly carried at cost net of accumulated amortization. Amortisation is calculated using the straight-line method, based on the estimated useful life, in all instances less than 5 years; except the GESTAMP brand which is considered an asset of indefinite useful life. Software Software acquired from third parties, recognised as assets, is amortised over its estimated useful life, which does not exceed 5 years. 6.6. Financial assets Following the IFRS 9’s criteria, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Debt financial asset instruments are subsequently measured at fair value through profit or loss (FVPL), amortised cost, or fair value through other comprehensive income (FVOCI). The classification is based on two criteria: the Group’s business model for managing the assets; and whether the instruments’ contractual cash flows represent ‘solely payments of principal and interest’ on the principal amount outstanding (the "SPPI criterion"). The new classification and measurement of the IFRS 9 is as follows: • Instruments at amortised cost for financial assets that are held within a business model with the objective to hold the financial assets in order to collect contractual cash flows that meet the SPPI criterion. • Instruments at FVOCI, with gains or losses recycled to profit or loss on derecognition.
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29 The Group's financial instruments included in non -current financial assets, trade and other receivables, other current assets and current financial assets are recognised at amortised cost, taking into account the business model and the evaluation of the SPPI. 6.7. Impairment losses on assets Impairment of non-financial assets The Group assesses at each reporting date whether there is any indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount as either the group of assets’ or cash-generating unit’s fair value less costs to sell, or its value in use, whichever is higher. The indicators of impairment are analysed at two levels. Firstly, with respect to the Group's CGUs and, secondly, with respect to the corporate development expense intangible assets (R&D projects). It is considered that a CGU has signs of impairment if it is observed that its level of profitability is significantly below the average return of the segment and of the Group for an on -going period. Other qualitative factors that may affect the CGU are also considered. In the case of the R&D Projects, a significant variation in actual income with regard to expected income in the business plans estimated at the start of the project represent a sign of impairment. A cash-generating unit (CGU) is the smallest identifiable group of assets that generates cash flows that are largely independent of the cash inflows from other assets. The smallest identifiable group of assets designated are the operating plants or the individual companies. However, there are specific cases in which the CGU does not correspond directly to the plants for various reasons, because the trading company groups together several plants that are close to each other or managed as a unit, or because at a country level there is significant operational integration (Mexico, USA and Germany). When the carrying amount of a group of assets or CGU exceeds its recoverable amount, an impairment loss is recognised and its carrying amount is decreased to its recoverable amount. Impairment losses with respect to CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the cash -generating units and, then, to proportionally reduce the carrying amount of the assets of the CGU unless, based on a review of the individual assets, it is considered that their fair value less costs to sell is higher than their carrying amount. When assessing value in use, estimated future cash -flows are discounted at present value by using a pre - tax discount rate that reflects current market valuations of money and risks of the asset. For calculating the fair value of the asset less costs to sell, recent transactions are considered and if they cannot be identified, a proper valuation method is used. These calculations are based on several considerations, market prices and other available indicators of the fair value. The calculation of impairment is based on detailed budgets and previsions individually prepared for each CGU to which the asset is allocated. These budgets are, to a significant extent, drawn up on the basis of external sources from consultants on vehicle production and sales. The forecasts cover a five -year period and after that it applies a long-term growth rate using for estimating future cash-flows. For all assets except goodwill, an assessment is made every year to see if there is evidence that the impairment registered in previous years has been reduced or has disappeared. In such case, the Group estimates the recoverable value of the asset or the CGU. The following assets present specific characteristics when assessing their impairment:
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30 Consolidation goodwill Consolidation goodwill is tested for impairment at year -end and when circumstances indicate that the carrying amount may be impaired. The impairment test for the goodwill assesses the recoverable value of each CGU allocated to it. If the recoverable value of the CGU is lower than its carrying amount, an impairment loss is registered. Goodwill impairment losses cannot be reversed in future periods. 6.8. Assets and liabilities held for sale and discontinued operations Assets and liabilities included in a disposal group whose recovery is expected through sale and not through continued use are included in this category. These assets are valued at lower cost between carrying amount and fair value less costs for sale. Discontinued operations are reflected in the Consolidated Income Statement separately from the revenue and expenses from continued operations. They are reflected in a line as profit after taxes from discontinued operations. 6.9. Trade and other receivables Accounts receivable from customers are measured in the accompanying Consolidated Balance Sheet at their nominal value. Discounted bills pending maturity at year -end are included in the accompanying Consolidated Balance Sheet under “Trade receivables,” with a balancing entry in “Interest -bearing loans and borrowings”. The balances transferred to banks as Non -Recourse Factoring reduce these trade receivables, since all risks related to them, including bad and past-due debt risks, have been transferred to the bank (Note 15.a)). 6.10. Inventories Inventories are valued at the lower of acquisition or production cost and net realisable value. Cost includes all expenses derived from the acquisition and transformation of inventories, including any other expenses incurred to bring them to their present condition and location. Inventories have been valued using the average weighted cost method. When inventories are deemed impaired, their initially recognised value is written down to net realisable value (selling price less estimated costs of completion and sale). 6.11. Revenue recognition and assets from contracts with customers Revenue recognition and assets from contracts with customers The Company earns its revenue primarily from the sale of welded and stamped parts, as well as the construction of tools. These goods and services are delivered to customers over time and not necessarily together. The policy of recognising the Group's income is determined by the five -stage model proposed by IFRS 15 Revenue from Contracts with Customers.
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31 Identification of the contract with the customer The Group’s contracts are normally supply agreements for an unspecified number of orders and thus the term of each contract depends on the orders received. The contracts are identified with the orders received from the customer, since this is when rights and obligations are created between both parties to produce the parts or build the tools. Identification of the performance obligations Given that control of manufactured tools is transferred to the customer, the tools are considered contract’s goods and services. Manufacturing of the tools as well as the parts necessary to ensure their correct operation is a single performance obligation. Once the tools are manufactured, each part requested by a customer corresponds to a separate performance obligation and thus, for practical purposes, they are not considered a series, given the short duration of the orders and the little time needed to produce the parts. Taking into account the just in time production model with customers, at year -end, there were no significant performance obligations pending execution in relation to parts. Determination of the price of the transaction and its allocation to the performance obligations The price agreed in the orders represents the independent sales price of the goods and services being transferred in the contracts. The Group negotiates concessions or incentives that are discounted from expected future revenue despite the fact that the number of parts ordered with each contract is not known. Some orders have variable consideration for the reviews of prices under negotiation, which are estimated based on the expected probability method and, where appropriate, they would be limited to the amount that is highly unlikely to be reversed in the future. On certain occasions, advance payments of future discounts are applicable to the agreement, which are normally paid at the beginning of the project to the customer. This payment complies with the definition of the asset, to the extent that the associated contracts (resource criteria controlled by the company) are going to generate profit (probability criteria). Once the manufacture of the tools has been completed and the parts manufacturing phase has commenced, it is highly unlikely that the customer will cancel the project and choose another supplier, because it would mean a significant delay in its production and therefore it is probable that profit will be generated. Furthermore, it is highly probable that the payment will be recovered through sales of future parts and it is probable that economic benefits will be generated. This payment is normally associated with the parts supply agreement to the customer, which will determine the time criteria to transfer the asset to results for the advance payment. The accounting treatment afforded is to recognise this asset for the payment made early and to transfer it to results as reduced income when the goods and services expected in the agreement are delivered, that it, for the number of parts supplied to the customer. Given that the agreement term with the customer normally exceeds one year and the payment is made at the beginning of the project, the amount paid reflects the current net value of the asset to be recognised, hence, in subsequent periods, the corresponding finance income must accrue.
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32 Recognition of income As the parts are made, goods are created that have no alternative use and the related orders generate rights and obligations wherein control of the parts is transferred to the customer. Since the control of tools and parts is transferred over time, progress is measured using the work -in- progress evaluation. The method that best represents the progress of the Group’s activities is costs incurred as a percentage of total estimated costs. If the results of a contract cannot be reliably estimated, revenue is recognised only to the extent that the expenses incurred are recoverable. Based on historical experience and the Group’s current estimates, except in extraordinary circumstances, no losses will be generated upon final settlement of the manufacturing contracts for tools under construction. Exceptionally, should it be deemed likely that costs will not be recovered, an onerous contract provision would be recognised. Other aspects of the income recognition policy There are no incremental direct costs for obtaining contracts. Performance obligations representing a guarantee do not exist either. A residual part of income corresponds to access licences (royalties). They are recognised in line with the accrual principle. Assets from contracts with customers Customer advances corresponding to tooling construction contracts reflect billing milestones and not necessarily the work -in-progress evaluation of the tooling construction. Assets from contracts with customers includes the balancing entry for income recognised according to the work -in-progress evaluation method for which the customer was not invoiced, deducting the customer advances received. These Assets from contracts with customers are presented at contract level with a customer. This heading also includes finished and semi-finished goods, as these are manufactured in accordance with customers’ contractual specifications. These goods are recognised as contract assets to the extent that they represent rights to consideration arising from performance obligations already satisfied for which a margin is recognised, even if physical delivery is still pending Revenue recognition from scrap sales The companies of the sub -group headed by Sideacero, S.L. are engaged in the treatment, processing, marketing and distribution of ferrous and non -ferrous scrap, ferroalloys, stainless steel, industrial demolitions and dismantling, plastic recycling, oils and tyres, and batteries and acids. Revenue from scrap sales by these companies is recognised when control of the products has been transferred, that is, when the products have been delivered to the customer and there are no outstanding obligations that could affect their acceptance. Interest, royalties and dividends Interest revenue is recognised as interest accrues taking into account the effective return of the asset (using the effective interest method, i.e., the rate that makes discounted future cash receipts through the expected life of the financial instrument equal to the initial carrying amount of the asset). Dividends received from associates, integrated by the equity method, are recognised as a reduction in the carrying amount of the investment.
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33 6.12. Official grants Government grants are recognised at fair value where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. Grants related to assets are recognised as Deferred Income in the Consolidated Balance Sheet at the amount granted. The grant will be recognised in the Consolidated Income Statement as the subsidised asset is amortised. The nature and characteristics of the grants received are described in Note 20. 6.13. Financial liabilities (trade and other payables and borrowings) Financial liabilities are initially recognised at fair value, net of transaction costs, except financial liabilities at fair value through consolidated profit and loss. After initial recognition, interest -bearing loans and borrowings are subsequently measured at amortised cost, measured as the difference between their cost and redemption value, using the effective interest rate method. Liabilities maturing in less than 12 months from the Consolidated Balance Sheet date are classified as current, while those with longer maturity periods are classified as non-current. A financial liability is retired when the obligation under the liability is discharged or cancelled or expires. The Group carries out financial transactions in which the payment to the supplier is deferred due to the transfer of the management of the payment to a financial institution. In these cases, the Group derecognises the liability to the supplier in order to recognise a financial liability ("other short -term borrowings"). Therefore, suppliers do not include items subject to financing transactions with third parties. 6.14. Provisions and contingent liabilities Provisions are recognised when the Group has a current obligation (legal or constructive) arising as a result of a past event and it is probable that the Group will have to dispose of resources as required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each Consolidated Balance Sheet closing date and are adjusted to reflect the current best estimate of the liability. Contingent liabilities are potential obligations that arise from past events whose existence will be confirmed only by the occurrence or non -occurrence of one or more uncertain future events not within the control of the Group, as well as present obligations arising from past events, the amount of which cannot be reliably estimated or whose settlement may not require an outflow of resources. These contingent liabilities are only subject to disclosure and are not accounted for. 6.15. Employee benefits The Group has assumed pension commitments for some companies located in Germany and France. The Group classifies its pension commitments depending on their nature in defined contribution plans and defined benefit plans. Defined contribution plans are post -employment benefit plans under which the company pays fixed contributions into a separate entity (insurance company or pension plan), and will have no legal or constructive obligation to pay further contributions if the separate company does not
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34 carry out its assumed commitments. Defined benefit plans are post-employments benefit plans other than defined contribution plans. Defined contribution plans The Group carries out predetermined contributions into a separate entity (insurance company or pension plan), and will have no legal or implicit obligation to pay further contributions if the separate company does not have enough assets to attend employee benefits related to their services rendered in current and previous years. The contributions made to defined contribution plans are recognised in profit and loss according to the accrual principle. The amount recognised in the Consolidated Income Statement amounts to 4,123 thousand euros as at 31 December 2025 (Note 27.b) (4,175 thousand euros as at 31 December 2024). This figure corresponds to contributions made in the United Kingdom. Defined benefit plans For defined benefit plans, the cost of providing these benefits is determined separately for each plan using the projected unit credit method. The actuarial gains and losses are recognised in OCI (Other Comprehensive Income) when incurred. In subsequent years, these actuarial gains and losses are registered as equity, and are not reclassified to profit and loss. The amounts to be recognised in profit and loss are: ➢ Current service cost. ➢ Any past service cost and gains or losses upon payment. ➢ Net interest on the net defined benefit liability (asset), which is determined by applying the discount rate to the net defined benefit liability (asset). The past service costs will be recognised as expenses at the earlier of the following dates (i) in the period when the plan is amended or curtailment occurs (ii) when the Group recognises related restructuring costs or benefits of termination. The defined benefit liability (asset) is the deficit or surplus, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. The asset ceiling is the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan. The rate used to discount post -employment benefit obligations shall be determined by reference to market yields at the end of the reporting period on high quality corporate bonds. The deficit or surplus is the total net sum of the following: 1. The present value of the defined benefit obligation. 2. Less the fair value of plan assets with which obligations are directly cancelled. Plan assets comprise assets held by a long -term employee benefit fund, and qualifying insurance policies. These assets are not available to the reporting entity´s own creditors and cannot be returned to the reporting entity. Fair value is based on market price and in case of stock market values, it corresponds to published prices. There are defined benefit schemes in Germany and France.
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35 Indemnities Indemnities to pay to employees dismissed through no fault of their own are calculated based on years of service. Any expenses incurred for indemnities are charged to the Consolidated Income Statement as soon as they are known. Compensation based on shares in Gestamp Automoción, SA. (Long-term incentive plan) In accordance with the Group's long -term value creation strategy, the Board of Directors of the Parent Company approved in May 2023 a long -term incentive plan (the "Plan") structured as overlapping 3 -year cycles, through the annual launch of three -year plans. The Plan is based on the delivery of shares to certain employees and executives, with amounts accruing each year for this concept, which will be settled at the end of the third year. The following incentive plans were in force on 31 December 2025: • 2023-2025 incentive plan. • 2024-2026 incentive plan. • 2025-2027 incentive plan. The Subgroup recognises a staff cost on a straight-line basis in the income statement over the term of the Plan, as well as the corresponding increase in equity, considering the fair value of the vested shares at the time of granting of the Plan. The quantification of the total incentive depends on the degree of attainment of the objectives that have been set. The fair value of the incentives indexed to the share price at the time of granting has been estimated considering the share price at 31 May 2023, 2 January 2024 and 2 January 2025 (4.1 euros per share, 3.56 euros per share and 2.47 euros per share, respectively). 6.16. Leases In accordance with IFRS 16, the Group records lease transactions as follows: Rights of use The Group recognises rights of use at the commencement of the lease, i.e. the date on which the underlying asset is available for use. The rights of use are measured at cost, less accumulated amortisation and impairment losses, and they are adjusted due to any changes in the measurement of the associated lease liabilities. The initial cost of the rights of use includes the amount of the lease liabilities recognised, the initial direct costs and the lease payments made prior to the start of the lease. The incentives received are discounted at the initial cost. Unless the Group is reasonably certain of obtaining the ownership of the leased asset at the end of the lease period, the rights of use are amortised on a straight -line basis at the lower of the estimated useful life and the lease term. Rights of use are subject to the impairment analysis. Lease liabilities At the start of the lease, the Group recognises lease liabilities for the current value of the lease payments made during the lease period. Lease payments include fixed payments (including fixed payments in essence), less lease incentives, variable payments that depend on an index or a rate and the amounts expected to be paid to guarantee the residual value. Lease payments also include the exercise price of a purchase option if the Group has reasonable certainty that it will exercise such option and pay penalties to terminate the lease, if the lease term reflects the exercise by the Group of the option to terminate the
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36 lease. Variable lease payments that do not depend on an index or rate are recognised as expenses in the period in which the event or condition occurs triggering the payment. When the present value of lease payments is calculated, the Group uses the incremental interest rate at the start of the lease if the implicit interest rate in the lease cannot be determined easily. After the commencement date, the amount of the lease liabilities is increased to reflect cumulative interest and it is reduced as a result of the lease payments made. Furthermore, the lease liability will be measured again in the event of a modification, a change in the lease term, a change in lease payments fixed in essence or a change in the assessment to purchase the underlying asset. The liability is also increased in the event of a change in future lease payments arising from a change in the index or rate used to determine these payments. Short-term leases and leases of low value assets The Group applies the exemption from recognising the short -term lease to its machinery and equipment leases that have a lease term of 12 month or less from the commencement date and that do not have a purchase option. It also applies the exemption from recognising low value assets to assets considered to have a low value. Lease payments in short -term leases and leases of low value assets are recognised as expenses on a straight-line basis during the lease period. Criteria applied when determining the lease term for contracts with a renewal option The Group determines the lease period as the non -cancellable term of a lease, to which optional periods are added to extend the lease, if it is reasonably certain that such option will be exercised. It also includes the periods covered by the option to terminate the lease, if it is reasonably certain that such option will not be exercised. The Group has the option, under some of its agreements, to lease assets for additional terms to the non - cancellable period. The Group is assessing whether it is reasonably certain that the option to renew will be exercised. That is, it considers all the pertinent factors that create an economic incentive to renew. After the commencement date, the Group re -assesses the lease term if there is a significant event or change in circumstances under its control affecting its ability to exercise or not exercise the renewal option. The Group includes the renewal period as part of the lease term for offices, factories and warehouses due to the importance of these assets for its operations. 6.17. Derivative financial instruments The Parent Company has arranged cash flow (interest rate) hedging transactions through entities that operate in over-the-counter (OTC) markets. These instruments are used to hedge exposure to fluctuations in floating interest rates on a portion of the bank loans granted to the company and on a portion of expected future borrowings. In 2025, an active management process has been carried out relating to them. These financial derivatives hedging cash flow are initially recognised in the Consolidated Balance Sheet at acquisition cost and, subsequently, any impairment loss allowances required are recognised to reflect their market value from time to time. In addition, hedging of the risks related to variations in exchange rates arranged by the Group is treated in a similar fashion to the cash flow hedges. Any gains or losses arising from changes in the market value of derivative financial instruments in respect of the ineffective portion of an effective hedge are taken to the Consolidated Income Statement, while gains or losses on the effective portion are recognised in “Effective hedges” within “Retained earnings” with respect to cash flow hedges. The cumulative gain or loss recognised in equity is transferred to the
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37 heading of the Consolidated Income Statement when the hedged item affects consolidated profit or loss. The extension options are not recognised for accounting purposes as hedges; accordingly, the change in value is recognised directly in the Consolidated Financial Statements. With respect to the derivative financial instruments described in Note 2.b., they are initially recognized at fair value and any subsequent changes in such fair value are recognized in the income statement, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. Note 7. Significant accounting estimates and criteria 7.1. Significant estimates The preparation of the Consolidated Financial Statements under IFRS requires management to make estimates and assumptions that affect the Consolidated Balance Sheet and the Consolidated Income Statement for the year. The estimates that have a significant impact are as follows: Impairment of non-financial assets: calculation of recoverable value The Group performs an impairment test for CGUs that have assets with indefinite useful lives, mainly goodwill, or for which indications of impairment are identified in property, plant and equipment. The calculation of recoverable value is based on the discounting of cash flows. These flows are obtained from the most conservative budget and business plan for the next five years and they do not include uncommitted restructuring activities or the significant future investments that will increase the output of the asset. To calculate the value at perpetuity, a standardised period with all future hypotheses deemed reasonable and recurrent in the future is used. The calculation of recoverable amount is very sensitive to assumptions and variables that are subject to estimation and calculation: EBITDA to sales ratio, discount rate and the growth rate used in the extrapolation. The key assumptions used to calculate the recoverable amount of the Cash Generating Units, including their sensitivity analysis, are further detailed in Note 6.7, Note 10 and Note 11. Recognition of income: variable considerations As indicated in Note 6.11, some orders have variable consideration for price revisions under negotiation. To the extent that the transfer of control has already been made to the customer, but the review processes are not closed, the Group makes an estimate based on the expected probability method, to adjust the transaction price. This estimate uses the historical experience of past negotiations with each customer, as well as the forecast of reasonable scenarios. Tax: recoverability of deferred tax assets Deferred tax assets are recognised for negative tax bases and other unused tax incentives to the extent that it is probable that taxable profit will be available against which they can be utilised. The calculation of deferred tax assets to be recognised depends on significant estimates by Management regarding the reasonable recovery period and the future tax profits. The Group does not register deferred tax assets in the following cases: negative tax bases to be offset from subsidiaries keeping a loss history, which cannot be used to offset future tax profits from other group companies and when there are no taxable temporary differences in the company.
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38 Pension benefits The cost of the defined benefit plans and other post -employment benefits and the present value of the pension obligations are determined according to actuarial valuations. Actuarial valuations involve making various assumptions that may differ from actual future events: discount rate, future salary increases, mortality rates and future pension increases. Since the valuation is complex and for the long -term, the calculation of the obligation for defined benefit plans is very sensitive to changes in those assumptions. All assumptions are revised at every closing date. Amortisation: useful lives The Group's production activity requires significant investments in property, plant and equipment. The useful life of PP&E is determined according to the expected use of the asset as well as the past experience of use and duration of similar assets. The estimate of useful life is sensitive to future changes in view of the long economic life of the Group's assets. This estimate is made on the basis of the Group's historical experience, technical information and the expected use of its assets. Annual depreciation is calculated using the straight-line method based on the estimated useful lives of the various assets. The estimated useful lives of the various asset categories are: The estimated assets' useful lives are reviewed at each financial year end, and adjusted prospectively if revised expectations differ significantly from previous estimates. In the 2025 review of the useful lives of property, plant and equipment, the Group carried out an analysis of the current use of certain buildings and extended their useful lives based on a study by an independent third party. Had the change in the estimated useful lives not taken place, there would have been an impact on the Condensed Interim Consolidated Income Statement for the year 2025, amounting to 18.7 million euros as a greater depreciation expense. No significant residual values at the end of useful lives are expected. With respect to the useful life of intangible assets that do not have a definite useful life, including capitalised expenses implementation, it has been calculated that, based on internal analyses, their useful life does not exceed 6 years and that their recovery is linear in accordance with the consumption pattern represented by the production of the operating plants. 7.2. Main accounting judgements Also, as required by IFRS, accounting opinions have been made in applying these accounting principles. The accounting opinions formed with a significant impact are as follows: 2025 2024 Buildings 17 to 60 17 to 35 Plant and machinery 3 to 20 3 to 20 Other plant, tools and furniture 2 to 10 2 to 10 Other PP&E items 4 to 10 4 to 10 Estimated useful life (years)
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39 Determination of cash-generating units The calculation of the CGU requires the application of the opinion to identify the smallest group of assets that generates cash inflows. In general, the smallest group of assets that generates inflows on a stand - alone basis corresponds to the operating plants, which are usually an individual trading company. However, there are specific cases in which the CGU does not correspond directly to the plants, either because the trading company groups together several nearby plants that, owing to location synergies, are managed as a unit (UK, Brazil), or because at a country level there is significant operational integration (Mexico, USA, Germany and Gescrap). Assessment of gain of control in subsidiaries According to IFRS 10, currently in force, Group Management assesses the existence of control of significant companies with 50% shareholdings, such as Beyçelik Gestamp Otomotive Sanayi, A.S., Gestamp Automotive India Private Ltd, Edscha Pha, Ltd. and Edscha Aditya Automotive Systems Pvt Ltd. Regarding Beyçelik Gestamp Otomotive Sanayi, A.S., Edscha Pha, Ltd. and Edscha Aditya Automotive Systems Pvt Ltd, non-controlling interests are third parties external to the Gestamp Automoción Group and over whom the shareholders of the Parent Company have no control. Although in these companies the members of the board of directors are elected on the basis of the percentage of ownership, it is considered that control over the companies is exercised taking into account the following facts and circumstances regarding the relevant activities: 1. Car manufacturers require from their suppliers the capability to reach and maintain quality standards across a wide geographic presence in order to negotiate global supply. 2. Accordingly, the most important activities for a supplier in this sector are as follows: a. Continuous investment in technological research and development to satisfy customer requirements. b. Global negotiation for approval and homologation of every component comprising a product, as well as management of prices. c. All activities aimed to achieve excellent quality of components. The above activities are carried out directly by the Group since the shareholders owning the remaining shares do not have these capacities. 3. In this sense, these companies technologically depend on the Group. Research and Development activities are fully carried out by the Group and the technology is provided to the subsidiary according to the agreement signed with the shareholders. Accordingly, the aforementioned subsidiaries have right to use but no intellectual property. The design to apply the technology of hot stamping currently used by the subsidiary is exclusive property of the Group. 4. In order to prove this excellence, an OEM supplier needs to be accredited as a Tier 1 supplier (high quality supplier) by the car manufacturer. Subsidiaries would not have such accreditation if they did not belong to the Group. In the specific case of Gestamp Automotive India Private Ltd., in addition to the matters described above, the holder of the remaining 50% is a related party to the Group, as it is a company controlled by the shareholders of the Parent Company.
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40 In the case of the Sideacero Subgroup, the Group has the control since the remaining shareholding (66.67%) is divided equally between ACEK Desarrollo y Gestión Industrial, S.L. and another non -controlling shareholder outside the Group. In this respect, control is considered to be exercised, taking into account the following facts and circumstances relating to the relevant activities: ➢ Pursuant to the shareholders’ agreement in respect of Sideacero Group, the Board of Directors of the parent company of the Sideacero Sub -group is composed of six members, of whom two are appointed at the proposal of Gestamp, two at the proposal of ACEK, and two at the proposal of the other minority shareholder. ➢ Gestamp is Sideacero Group’s main supplier of metallic waste worldwide. This enables Gestamp to direct a significant part of the activities due to Sideacero Group ’s dependence on Gestamp’s supplies. Moreover, although ACEK controls Gestamp, it is the financial capacity generated through Gestamp’s own business that enables the investments required to operate Sideacero Group ’s business to be undertaken. As the sourcing of metallic waste has been identified as Sideacero Group’s most relevant activity and is highly dependent on Gestamp’s business, it is Gestamp that directs and manages this activity, based on its knowledge of supply forecasts. ➢ There are no conflicting interests between ACEK and Gestamp. The joint managing directors of ACEK have joint control over Gestamp, who hold the positions of President and Vice-President and are responsible for appointing the members of Sideacero Group’s Board of Directors. Given that Gestamp’s business is the main beneficiary of the integration of Sideacero Group’s activity into its operations, as well as the fact that it is its main supplier of metallic waste, there can be no conflicting interests within the ACEK Group that run counter to Gestamp’s own benefit. Accordingly, from ACEK’s perspective, decision-making in relation to Sideacero Group is driven by the defence of Gestamp’s interests in Sideacero Group ’s operations. In this regard, Acek and Gestamp Automoción formalized an agreement of interests that sets out the considerations described above and confirms that Gestamp effectively exercises operational control over Sideacero Group. ➢ The returns of the Sideacero Subgroup are determined and influenced by Gestamp’s power over the relevant activities. Gestamp’s involvement in making those key decisions is what drives and shapes the returns generated by the Sideacero Subgroup. In addition, Gestamp has significant exposure due to the amount invested to acquire its 33.33% interest in the Sideacero Subgroup in 2022, and because that 33.33% entitles it to any positive returns that may arise. These returns are not fixed—neither by nature nor by contract —but are variable, depending on the performance of the Sideacero Subgroup, i.e., the success of its business operations. The 33.33% ownership interest is considered sufficiently substantive to give rise to such variable exposure. ➢ Gestamp uses its power to significantly influence those returns. Although other entities (such as the remaining shareholders of the Sideacero Group) may also benefit from Gestamp’s decision-making, Gestamp acts on its own behalf and in its own economic interest. This is particularly relevant given Gestamp’s exposure to the performance of the Sideacero Subgroup as part of a strategic supplier alliance to integrate scrap management into its circularity strategy. Through the integration of the Sideacero Subgroup, Gestamp leverages its decision -making authority to manage and enhance the availability of high -quality scrap for its production processes. Finally, Gestamp’s power with 33% of Sideacero Group’s voting rights, taking into account the absence of conflicting interests described above, is consistent with the basis for conclusions of IFRS 10, which states
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41 that it is not necessary to hold a majority of voting rights, nor to have a contractual relationship, for an investor to control an investee. For the remaining companies in which the Group has a shareholding of less than 50%, given that the Group does not holds a majority on the Board and that the circumstances identified above do not exist, it is concluded that there is no control and therefore these companies are consolidated using the Equity method. Own-use exception in energy contracts The Group has energy supply contracts in Spain, Portugal, Germany, India, Mexico and China for a term of between 15 and 25 years. In 2025, in addition to the above contracts, several rooftop energy supply contracts commenced in China for an approximate volume of 5 GWh and in India for an approximate volume of 8.3 GWh. Based on the expected energy demands for the coming years, the Group applies the own -use exception and the contract is accounted for as an executory contract. Note 8. Changes in significant accounting policies and estimates and restatement of errors Changes in accounting estimates The effect of a change in an accounting estimate is recognised prospectively in the same Consolidated Income Statement heading in which the associated income or expense was recognised under the former estimate. Changes in significant accounting policies and restatement of errors The effect of this type of changes in accounting policies and the correction of errors is recognised in those cases that are significant at Group level. The cumulative effect at the beginning of the year is adjusted in the Retained earnings heading and the effect of the year itself is recognised in the Consolidated Income Statement for the year. In these cases, the figures for the previous year are modified to make them comparative, unless the rule governing the new accounting policy expressly allows the comparative figures for the previous year not to be restated. Note 9. Segment reporting According to IFRS 8 "Operating segments", segment information below is based on internal reports regularly reviewed by the board of directors of the Group in order to allocate resources to each segment and assess their performance. The operating segments identified by the Group's Management Committee are based on a geographic perspective, except in the case of the companies of the Sideacero Subgroup, which are integrated into a single segment due to the nature of their activity; these segments and the countries they comprise are as follows: ✓ Western Europe o Spain o Germany o United Kingdom o France o Portugal o Sweden
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42 o Morocco ✓ Eastern Europe o Poland o Hungary o Czechia o Slovakia o Türkiye o Romania o Bulgaria o Russia ✓ Mercosur o Brazil o Argentina ✓ North America o USA o Mexico ✓ Asia o China o South Korea o India o Thailand o Japan o Taiwan ✓ Gescrap o All companies within the Sideacero Subgroup, regardless of the country in which they are located. Each segment includes the activity of Group companies located in countries belonging to the segment, except for those in the Sideacero Subgroup, which are included in the Gescrap segment. The Group’s Management Committee has managed the operating segments corresponding to continuing operations mainly on the basis of the evolution of the key financial metrics of each segment, such as net turnover, EBITDA, EBIT and investments in fixed assets. Debt, cash, finance income and expenses, income tax expense and the allocation of results to non-controlling interests are analysed jointly at Group level, as their management is essentially centralised. Inside certain segments, there are some countries meeting the definition of a significant segment; however, they are presented in the aggregate since the products and services generating ordinary income as well as productive processes are similar, additionally, they show similar long -term financial performance, and they belong to the same economic environment. Segment information for 2025 and 2024 is as follows:
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43 Recurring operating transactions between subsidiaries in different segments are not material. The "EBITDA" heading of each segment includes the billing of costs of the Group's corporate services. Said billing was carried out on the basis of: WESTERN EUROPE EASTERN EUROPE MERCOSUR NORTH AMERICA ASIA GESCRAP TOTAL NON-CURRENT ASSETS Goodwill 89,280 2,627 5,533 1,307 214 43,543 142,504 Other intangible assets 326,099 28,758 6,400 25,713 45,083 1,033 433,086 Property, plant and equipment 1,508,499 952,562 306,036 1,461,090 764,988 89,526 5,082,701 Non-current financial assets 67,401 55 535 4,360 10,841 643 83,835 Deferred tax assets 159,014 64,330 36,047 323,416 17,214 12,024 612,045 2,150,293 1,048,332 354,551 1,815,886 838,340 146,769 6,354,171 WORKING CAPITAL Inventories 85,676 86,165 40,962 169,715 97,688 62,356 542,562 Assets from contracts with customers 450,824 48,701 19,494 47,018 111,705 193 677,935 Trade and other receivables 110,269 113,792 47,144 81,968 452,540 118,404 924,117 Other current assets 50,632 45,140 2,016 53,971 37,685 1,144 190,588 697,401 293,798 109,616 352,672 699,618 182,097 2,335,202 Trade and other payables (1,177,940) (331,480) (187,346) (372,900) (681,644) (50,639) (2,801,949) Current provisions (1,925) (1,801) — (557) (533) (4,563) (9,379) Other current liabilities (26,080) (15,552) — (28,856) (8,006) (770) (79,264) Other current borrowed liabilities (114,690) (5,102) (7,708) (24,694) (32,804) (6,938) (191,936) (623,234) (60,137) (85,438) (74,335) (23,369) 119,187 (747,326) WESTERN EUROPE EASTERN EUROPE MERCOSUR NORTH AMERICA ASIA GESCRAP TOTAL Revenue 4,042,438 1,924,714 782,134 2,241,421 1,823,425 534,473 11,348,605 EBITDA 452,980 293,045 91,922 166,041 263,848 39,500 1,307,336 Amortization (321,494) (103,567) (29,598) (178,633) (116,401) (11,221) (760,914) ITEM ITEM Total non-current assets Total working capital Subtotal January - December 2025 Thousands of euros Thousands of euros 31-12-2025 WESTERN EUROPE EASTERN EUROPE MERCOSUR NORTH AMERICA ASIA GESCRAP TOTAL NON-CURRENT ASSETS Goodwill 88,078 3,263 5,588 1,307 396 44,012 142,644 Other intangible assets 325,887 31,721 5,061 22,940 46,264 1,312 433,185 Property, plant and equipment 1,505,896 883,560 314,380 1,546,340 847,933 75,094 5,173,203 Non-current financial assets 68,063 55 3,983 4,772 11,097 4,483 92,453 Deferred tax assets 136,456 75,782 20,131 324,075 19,838 3,170 579,452 2,124,380 994,381 349,143 1,899,434 925,528 128,071 6,420,937 WORKING CAPITAL Inventories 112,174 84,634 42,641 180,634 110,090 54,389 584,562 Assets from contracts with customers 427,871 35,814 19,809 108,953 127,567 539 720,553 Trade and other receivables 94,960 145,492 74,384 236,009 500,342 111,987 1,163,174 Other current assets 46,468 35,702 3,896 55,017 26,189 1,017 168,289 681,473 301,642 140,730 580,613 764,188 167,932 2,636,578 Trade and other payables (1,091,414) (350,021) (215,816) (585,964) (744,594) (45,474) (3,033,283) Current provisions (5,014) (3,089) — (922) (2,834) (5,016) (16,875) Other current liabilities (5,310) (812) — (6,645) (75) (282) (13,124) Other current borrowed liabilities (115,327) (5,116) (8,803) (61,621) (46,504) (110) (237,481) (535,592) (57,396) (83,889) (74,539) (29,819) 117,050 (664,185) WESTERN EUROPE EASTERN EUROPE MERCOSUR NORTH AMERICA ASIA GESCRAP TOTAL Revenue 4,219,279 1,902,024 927,637 2,401,876 1,976,398 573,762 12,000,976 EBITDA 480,464 253,862 87,628 143,943 276,512 51,640 1,294,049 Amortization (275,541) (83,360) (31,904) (186,932) (124,647) (9,550) (711,934) Thousands of euros January - December 2024 Thousands of euros 31-12-2024 ITEM Total non-current assets Total working capital Subtotal ITEM
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44 a) The criteria for distribution of management costs as per global agreements signed by Group companies. b) The agreements for rendering specific services signed by certain Group companies. The additions of Other intangible assets (Note 10.b) by segments are as follows: The additions of property, plant and equipment (Note 11) by segments are as follows: Additions to property, plant and equipment as at 31 December 2025 include additions for right-of-use assets amounting to 106,560 thousand euros (80,907 thousand euros as at 31 December 2024). The three most representative customers (including the companies of their respective groups) account for 43.9% of the total net turnover at 31 December 2025 (44.7% of turnover as at 31 December 2024), each accounting for more than 9.7% of turnover (more than 11% as at 31 December 2024). Segment 31-12-2025 31-12-2024 Western Europe 84,188 93,191 Eastern Europe 7,812 6,841 Mercosur 2,880 2,099 North America 11,123 7,079 Asia 11,345 16,444 Gescrap 37 793 Total 117,385 126,447 Thousands of euros Segment 31-12-2025 31-12-2024 Western Europe 240,254 262,050 Eastern Europe 160,204 139,815 Mercosur 35,040 30,642 North America 237,579 271,073 Asia 98,200 90,410 Gescrap 11,634 31,574 Total 782,911 825,564 Thousands of euros
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45 Note 10. Intangible assets a) Consolidation goodwill The movement in this heading assigned to each Group Segment in 2025 and 2024 is as follows: Changes in the consolidation scope at 31 December 2025 amounting to 246 thousand euros related to the changes generated in the acquisition of the Industrias López Soriano Group (Note 3). Balance at Changes in scope Translation Balance at Segment / CGU 31-12-2024 of consolidation differences 31-12-2025 Western Europe Gestamp Hard Tech, AB 33,382 — 1,957 35,339 Gestamp Metalbages S.A. 15,622 — — 15,622 Gestamp Aveiro, S.A. 7,395 — — 7,395 Gestamp Levante, S.A. 6,944 — — 6,944 Gestamp Griwe Westerburg 6,466 — — 6,466 Adral, Mat. Pta. Punto, S.L. 857 — — 857 Reparaciones Industriales Zaldibar, S.L. 444 — — 444 Gestión Global de Matricería Subgroup 17,490 — (756) 16,734 Eastern Europe Beyçelik Gestamp Otomotiv Sanayi, A.S. 1,957 — (537) 1,420 Gestamp Severstal Vsevolozhsk, LLC 65 — 16 81 Çelik Form Gestamp Otomotiv, A.S. 339 — (93) 246 Gestamp Beycelik Romania, S.R.L. 901 — (21) 880 Mercosur Gestamp Brasil Industria de Autopeças, S.A. 5,590 — (56) 5,534 Asia Gestamp Services India Private, Ltd. 11 — (1) 10 Edscha Aditya Automotive Systems Pvte Ltd. 1,168 — (180) 988 Gescrap Sideacero Subgroup 44,013 — (715) 43,298 Industrias Lopez Soriano Subgroup — 246 — 246 Total 142,644 246 (386) 142,504 Thousands of euros
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46 Translation differences at 31 December 2025 and 31 December 2024 correspond to the adjustments to the goodwill of companies whose functional currency is different from the euro, translated at the exchange rate prevailing on the reporting date, according to IAS 21 (Note 6.3). Impairment test of Goodwill The Group has implemented an annual procedure aimed at identifying potential impairments in the carrying amount of goodwill compared to its recoverable amount. This assessment is carried out for each of the CGUs or groups of CGUs to which goodwill has been allocated. A CGU is the smallest identifiable group of assets that generates cash flows that are largely independent of the cash inflows from other assets or groups of assets. The recoverable amount of CGUs is determined by taking the higher of the fair value less costs necessary to sell the CGU or by calculating the value in use, using cash flow projections for a period of five years and based on the future performance of the businesses. Cash flows beyond the five-year period have been extrapolated using a country-dependent growth rate as indicated in note 11. The discount rate before taxes applied to the cash flow projections of the CGUs is calculated based on the Weighted Average Cost of Capital (WACC), and is determined by the average weighted cost of equity and the cost of borrowed funds in line with the financial structure set for the Group. The pre -tax discount rates and growth rates applied to the CGUs with the most significant goodwill balances in 2025 and 2024 are as follows: Balance at Translation Balance at Segment / CGU 31-12-2023 differences 31-12-2024 Western Europe Gestamp Hard Tech, AB 34,344 (962) 33,382 Gestamp Metalbages S.A. 15,622 — 15,622 Gestamp Aveiro, S.A. 7,395 — 7,395 Gestamp Levante, S.A. 6,944 — 6,944 Gestamp Griwe Westerburg 6,466 — 6,466 Adral, Mat. Pta. Punto, S.L. 857 — 857 Reparaciones Industriales Zaldibar, S.L. 444 — 444 Gestión Global de Matricería Subgroup 17,407 83 17,490 Eastern Europe Beyçelik Gestamp Otomotiv Sanayi, A.S. 2,203 (246) 1,957 Gestamp Severstal Vsevolozhsk, LLC 75 (10) 65 Çelik Form Gestamp Otomotiv, A.S. 382 (43) 339 Gestamp Beycelik Romania, S.R.L. 901 — 901 Mercosur Gestamp Brasil Industria de Autopeças, S.A. 6,672 (1,082) 5,590 Asia Gestamp Services India Private, Ltd. 11 — 11 Edscha Aditya Automotive Systems Pvte Ltd. 1,133 35 1,168 Gescrap Sideacero Subgroup 44,322 (309) 44,013 Total 145,178 (2,534) 142,644 Thousands of euros
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47 It is concluded that the recoverable value is higher than the carrying amount for all the CGUs, so the Group can recover the value of goodwill recognised at 31 December 2025 and 31 December 2024. The economic projections made in previous years did not present significant differences with regard to the actual data or, if applicable, they would not have led to impairment. Sensitivity analysis of changes in key assumptions The Parent Company's Management performed a sensitivity analysis, especially in relation to the discount rate used and the residual growth rate, to ensure that possible changes in the estimate of those rates do not affect the recovery of the aforementioned values, where the value in use is the reference value. The following increases or decreases, expressed in percentage points, have been assumed: Based on the analysis performed, it is clear that at 31 December 2025, there is still a gap between the recoverable amount and the carrying amount of the main CGUs. b) Other intangible assets The breakdown and movements of the different categories of other intangible assets are: Key assumptions Variation Discount rate + 0.5 Perpetual growth rate - 0.5 EBITDA to sales ratio - 1.0
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48 The changes in the scope of consolidation at 31 December 2025 am ounting to 115 thousand euros corresponded to those generated by the acquisition of the Industrias López Soriano Group (Note 3). Additions to development expenses mainly correspond to development and design costs of portfolio projects, as well as the application of new technologies and the introduction of new materials related to the business. The inflation adjustment corresponds to the restatement of the value of non -current assets in Argentina and Türkiye, under IAS 29 (Note 4.5). The net value of “Other movements” mainly reflects reclassifications between Intangible and tangible assets. The changes in the scope of consolidation as of 31 December 2024 amounting to negative 113 thousand euros correspond to those generated by the sale of Gestamp Togliatti, Llc. and Edscha Togliatti, Llc. (Note 2.b)). Balance at Balance at 31-12-2024 Additions Disposals 31-12-2025 Cost Development costs 849,148 115 82,204 (4,849) (6,025) — (3,404) 917,189 Concessions 19,110 — — (26) (1,462) — 2,633 20,255 Patents, licences and trademarks 35,642 — 427 — 134 — — 36,203 Goodwill 706 — — — (109) — (199) 398 Transfer rights 7,640 — 76 — (726) — (2,633) 4,357 Software 325,257 — 22,852 (5,593) (5,898) 77 8,935 345,630 Prepayments 18,808 — 11,826 (68) (248) — (8,782) 21,536 Total cost 1,256,311 115 117,385 (10,536) (14,334) 77 (3,450) 1,345,568 Amortisation and impairment Development costs (582,288) — (77,361) 4,247 3,755 — 988 (650,659) Concessions (4,170) — (609) — 331 — (586) (5,034) Patents, licences and trademarks (1,515) — (104) — (533) — (1,093) (3,245) Transfer rights (1,448) — (138) — 105 — 595 (886) Software (231,178) — (28,901) 5,362 4,236 — 323 (250,158) Total Accumulated amortisation (820,599) — (107,113) 9,609 7,894 — 227 (909,982) Impairment of intangible assets (2,527) — — 25 2 — — (2,500) Net value 433,185 115 10,272 (902) (6,438) 77 (3,223) 433,086 Thousands of euros Changes in scope of consolidation Translation differences Hyperinflation adjustment Other movements Balance at Balance at 31-12-2023 Additions Disposals 31-12-2024 Cost Development costs 769,735 (212) 82,763 (885) (1,171) — (1,082) 849,148 Concessions 14,525 — 4,042 — 559 — (16) 19,110 Patents, licences and trademarks 36,156 — 146 (589) (71) — — 35,642 Goodwill 1,241 — — — 419 — (954) 706 Transfer rights 7,388 — — — 252 — — 7,640 Software 293,077 (391) 31,249 (721) (1,575) 1,238 2,380 325,257 Prepayments 28,895 — 8,247 (418) 51 — (17,967) 18,808 Total cost 1,151,017 (603) 126,447 (2,613) (1,536) 1,238 (17,639) 1,256,311 Amortisation and impairment Development costs (507,954) 96 (75,269) 249 595 — (5) (582,288) Concessions (3,698) — (320) — (152) — — (4,170) Goodwill — — — — — — — — Patents, licences and trademarks (1,904) — (84) 589 (122) — 6 (1,515) Transfer rights (1,273) — (133) — (42) — — (1,448) Software (208,758) 357 (27,358) 2,477 1,191 — 913 (231,178) Total Accumulated amortisation (723,587) 453 (103,164) 3,315 1,470 — 914 (820,599) Impairment of intangible assets (2,606) 37 — 43 (1) — — (2,527) Net value 424,824 (113) 23,283 745 (67) 1,238 (16,725) 433,185 Changes in scope of consolidation Thousands of euros Hyperinflation adjustment Translation differences Other movements
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49 Additions to development expenses mainly correspond to development and design costs of portfolio projects, as well as the application of new technologies and the introduction of new materials related to the business. The inflation adjustment corresponds to the restatement of the value of non -current assets in Argentina and Türkiye, under IAS 29 (Note 4.5). The net value of “Other movements” mainly reflects reclassifications between Intangible and tangible assets. The most significant investments by segment are shown in Note 9. Development Expenses that correspond to projects that did not meet the conditions to be capitalised were recorded on the Consolidated Income Statement under the heading Other operating expenses, amounting to 850 thousand euros and 2,091 thousand euros at 31 December 2025 and 31 December 2024, respectively. Impairment test on assets with indefinite useful lives Assets with indefinite useful life are tested annually to identify impairment. It is concluded that their recoverable value is far higher than their net carrying amount. Note 11. Property, plant and equipment The breakdown and changes in the items comprising Property, plant and equipment are as follows: The changes in the scope of consolidation at 31 December 2025 am ounting to 15,516 thousand euros corresponded to those generated by the acquisition of the Industrias López Soriano Group (Note 3). The cost value of the Additions to property, plant and equipment at 31 December 2025 relates mainly to investments being made in plants and production lines to increase the Group's production capacity, as well as replacements for the maintenance of activities. The inflation adjustment, which includes the amortisation of the year, corresponds to the restatement of the value of non-current assets in Argentina and Türkiye, under IAS 29 (Note 4.5). The net value of “Other movements” mainly reflects reclassifications between Intangible and tangible assets, as well as reclassifications of non-current assets held for sale during the period. Balance at Other Balance at 31-12-2024 Additions Disposals movements 31-12-2025 Cost Land and buildings 2,455,920 9,100 119,952 (43,266) (95,577) 7,521 93,536 2,547,186 Plant and other PP&E 7,902,548 6,415 186,978 (173,064) (270,259) 1,899 424,652 8,079,169 PP&E under construction and prepayments 810,070 1 475,981 (422) (47,426) (6,555) (449,655) 781,994 Total cost 11,168,538 15,516 782,911 (216,752) (413,262) 2,865 68,533 11,408,349 Amortisation and impairment Land and buildings (866,157) — (81,663) 34,410 26,518 383 (23,014) (909,523) Plant and other PP&E (5,129,178) — (547,636) 140,515 148,776 (6,290) (22,312) (5,416,125) Total Accumulated amortisation and impairment (5,995,335) — (629,299) 174,925 175,294 (5,907) (45,326) (6,325,648) Net value 5,173,203 15,516 153,612 (41,827) (237,968) (3,042) 23,207 5,082,701 Changes in scope of consolidation Translation differences Hyperinflation adjustment Thousands of euros
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50 In the 2025 financial year, an impairment loss on assets related to cancelled projects linked to electric vehicles was recognized, amounting to 52,150 thousand euros. Changes in the scope of consolidation at 31 December 2024 am ounting to negative 113 thousand euros corresponded to those generated by the sale of Gestamp Togliatti, Llc. and Edscha Togliatti, Llc. (Note 2.b)). The cost value of the Additions to property, plant and equipment at 31 December 2024 relate d mainly to investments being made in plants and production lines to increase the Group's production capacity, as well as replacements for the maintenance of activities. The inflation adjustment, which includes the amortisation of the year, corresponded to the restatement of the value of non-current assets in Argentina and Türkiye, under IAS 29 (Note 4.5). The net balance of the “Other movements” column mainly include d reclassifications between intangible and tangible assets, and assets held for sale, amounting to 43,660 thousand euros (Note 36). In the 2024 financial year, an impairment reversal of 7,000 thousand euros was recorded for the assets. Rights of use The movement in PP&E at 31 December 2025 relating to the effect of rights of use are as follows: The movement in PP&E at 31 December 2024 relating to the effect of rights of use are as follows: Balance at Other Balance at 31-12-2023 Additions Disposals movements 31-12-2024 Cost Land and buildings 2,309,124 (2,603) 92,257 (28,980) 3,302 16,271 66,549 2,455,920 Plant and other PP&E 7,455,631 (7,545) 192,589 (183,995) (19,822) 89,023 376,667 7,902,548 PP&E under construction and prepayments 706,539 (335) 540,718 (380) (10,756) (765) (424,951) 810,070 Total cost 10,471,294 (10,483) 825,564 (213,355) (27,276) 104,529 18,265 11,168,538 Amortisation and impairment Land and buildings (794,112) 3,056 (101,627) 28,348 (2,287) (3,859) 4,324 (866,157) Plant and other PP&E (4,801,744) 7,314 (485,541) 184,890 9,943 (38,259) (5,781) (5,129,178) Total Accumulated amortisation and impairment (5,595,856) 10,370 (587,168) 213,238 7,656 (42,118) (1,457) (5,995,335) Net value 4,875,438 (113) 238,396 (117) (19,620) 62,411 16,808 5,173,203 Changes in scope of consolidation Hyperinflation adjustment Translation differences Thousands of euros Balance at Balance at 31-12-2024 Additions Disposals Translation differences 31-12-2025 Cost Right of use Land and buildings 519,688 102,771 (27,236) (36,132) 559,091 Right of use Plant and other PP&E 193,079 3,789 (46,072) (19,822) 130,974 Total cost 712,767 106,560 (73,308) (55,954) 690,065 Amortisation and impairment losses Right of use Land and buildings (187,397) (47,714) 27,236 11,844 (196,031) Right of use Plant and other PP&E (75,879) (19,931) 38,940 4,837 (52,033) Total Amortisation and impairment (263,276) (67,645) 66,176 16,681 (248,064) Net value 449,491 38,915 (7,132) (39,273) 442,001 Thousands of euros
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51 The breakdown by segment of property, plant and equipment as of 31 December 2025 and 2024 is as follows: Balance at Balance at 31-12-2023 Additions Disposals Translation differences 31-12-2024 Cost Right of use Land and buildings 472,791 59,756 (27,539) 14,680 519,688 Right of use Plant and other PP&E 258,983 21,151 (91,011) 3,956 193,079 Total cost 731,774 80,907 (118,550) 18,636 712,767 Amortisation and impairment losses Right of use Land and buildings (160,400) (49,537) 27,539 (4,999) (187,397) Right of use Plant and other PP&E (138,862) (22,540) 91,074 (5,551) (75,879) Total Amortisation and impairment (299,262) (72,077) 118,613 (10,550) (263,276) Net value 432,512 8,830 63 8,086 449,491 Thousands of euros Net carrying amount Net carrying amount Segment / Country 2025 2024 Western Europe 1,508,498 1,505,895 Spain 696,829 643,869 Germany 386,328 466,445 France 118,777 119,747 Portugal 72,585 66,633 Sweden 7,443 8,478 United Kingdom 208,508 181,129 Morocco 18,028 19,594 Eastern Europe 952,564 883,561 Poland 221,564 208,357 Russia 20,729 16,839 Hungary 48,351 48,079 Czech Republic 141,673 91,229 Romania 108,397 98,266 Türkiye 260,347 263,381 Slovakia 104,106 109,392 Bulgaria 47,397 48,018 Mercosur 306,036 314,379 Argentina 61,938 80,317 Brazil 244,098 234,062 North America 1,461,090 1,546,340 USA 1,062,587 1,188,444 Mexico 398,503 357,896 Asia 764,987 847,934 China 552,877 629,221 India 130,588 137,319 South Korea 36,012 37,279 Japan 45,043 43,478 Taiwan 187 271 Thailand 280 366 Gescrap 89,526 75,094 Sideacero Subgroup 89,526 75,094 Total 5,082,701 5,173,203 Thousands of euros
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52 Impairment test of Property, plant and equipment Impairment tests calculate recoverable value and are carried out for those CGU’s whose signs of deterioration are found according to indicators mentioned in Note 6.7 or those to which goodwill is allocated. Certain of the Group's CGUs show signs of impairment as in the previous year, for which an impairment test has been carried out by calculating their recoverable value. The recoverable amount of CGUs is determined by taking the higher of the fair value less costs necessary to sell the CGU or by calculating the value in use, using cash flow projections for a period of five years and based on the future performance of the businesses. Cash flows beyond the five‑year period have been extrapolated using a growth rate based on the country’s long‑term inflation. The discount rate before taxes applied to the cash flow projections of the CGUs is calculated based on the Weighted Average Cost of Capital (WACC) and is determined by the average weighted cost of equity and the cost of borrowed funds in line with the financial structure set for the Group. The volume of assets on which the impairment test has been performed represents 37% of the Group’s total property, plant and equipment in fiscal year 2025 (46% in fiscal year 2024), covering both the impairment tests of the CGUs with goodwill described in note 10 and the CGUs with assets showing indicators of impairment. The pre-tax discount rates, perpetual growth rates, and operating EBITDA margin applied to the CGUs on which impairment tests have been performed for fiscal years 2025 and 2024 are as follows: The Group identifies which leases would need to be transferred in the event of a hypothetical sale of the CGU. In the event of necessary lease contracts, the right of use is part of the contrast value and the Group deducts the lease liability from both the contrast value of the CGU and its value in use. In general, CGUs with indications of impairment, with the exception of those that are lessees of land and buildings, did not have significant lease agreements and, as a practical solution, no lease liability has been taken into account in either the contrast value or the value in use.
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53 It is concluded that the recoverable value is higher than the carrying amount for all the CGUs, so the Group can recover the value of consolidated assets recognised at 31 December 2025. The economic projections made in previous years did not present significant differences with regard to the actual data or, if applicable, they would not have led to impairment. Sensitivity analysis of changes in key assumptions The Parent Company's Management performed a sensitivity analysis, especially in relation to the discount rate used and the residual growth rate, to ensure that possible changes in the estimate of those rates do not affect the recovery of the aforementioned values, where the value in use is the reference value. The following increases or decreases, expressed in percentage points, have been assumed: Based on the analysis performed, it is clear that at 31 December 2025, there is still a gap between the recoverable amount and the carrying amount of the main CGUs. Pledged property, plant and equipment to secure bank loans with in rem guarantees and others At 31 December 2025 and 31 December 2024, there were no items of property, plant, and equipment set aside to secure bank loans. On the other hand, any assets involved in Andromeda (Note 2.b)) cannot be disposed of without the prior authorization of the minority shareholder. Note 12. Financial assets Details, by class and maturity, of the Group's financial assets at 31 December 2025 and 31 December 2024, in thousands of euros, are as follows: Key assumptions Variation Discount rate + 0.5 Perpetual growth rate - 0.5 EBITDA to sales ratio - 1.0 31-12-2025 31-12-2024 31-12-2025 31-12-2024 31-12-2025 31-12-2024 31-12-2025 31-12-2024 31-12-2025 31-12-2024 Non-current financial assets 13,306 17,291 9,874 5,153 41,321 54,882 — — 19,334 15,127 Investments accounted for using the equity method 13,306 17,291 — — — — — — — — Held-to-maturity investments — — — — — — — — 443 444 Loans and receivables — — 9,874 5,153 — — — — 18,891 14,683 Derivative financial instruments (Note 23.b.1)) — — — — 41,321 54,882 — — — — Current financial assets — — 8,263 6,773 3,583 1,727 203,540 186,607 24,293 32,563 Held-to-maturity investments — — — — — — 203,540 186,607 — — Loans and receivables — — 8,263 6,773 — — — — 24,293 32,563 Derivative financial instruments — — — — 3,583 1,727 — — — — Total financial assets 13,306 17,291 18,137 11,926 44,904 56,609 203,540 186,607 43,627 47,690 Investments accounted for using the equity method Thousands of euros Derivative financial instrumentsLoans granted Current securities portfolio Other financial assets
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54 a) Non-current financial assets The movement in non-current financial assets at 31 December 2025 and 31 December 2024 is shown below: a.1) Investments accounted for using the equity method During the 2024 financial year, the subsidiary Gescrap Francia, S.A.R.L acquired 50% of Centre Recuperation Libournais for 4,200 thousand euros. Initially, this company was included in the consolidation perimeter using the equity method; however, during the 2025 financial year, this interest was sold, and a withdrawal was recorded under this line item in the balance sheet. During July 2025, the dissolution and liquidation of the equity -accounted investee Industrias Tamer, S.A. is formalised. The results for the 2025 and 2024 financial years, amounting to 3,614 thousand euros profit and 2,825 thousand euros profit, respectively, correspond to the application of the ownership percentage to the results obtained by each company. Additionally, at 31 December 2025, the ‘Share of profit/(loss) of associates accounted for using the equity method’ line item in the Consolidated Income Statement also includes the result of the liquidation of Industrias Tamer, S.A., which amounts to a loss of 8 thousand euros. Dividends amounting to 2,851 thousand euros as at 31 December 2025 (3,566 thousand euros as at 31 December 2024) correspond to dividends distributed by Gestamp Auto Components Sales (Tianjin) Co., Ltd., an equity-accounted investee, to the subsidiary Gestamp China Holding Co. Ltd. The summarised financial information on the Group's investment in the most significant associates in 2025 and 2024 is as follows: Investments accounted for using the equity method Loans granted Derivative financial instruments Other financial assets Balance at December 31, 2023 13,492 3,144 103,572 15,257 Changes in scope of consolidation 4,200 — — — Additions 67 1,959 — 1,768 Disposals — (104) — (1,590) Change in valuation of derivatives — — (46,963) — Transfers — 441 (1,727) (343) Dividends (3,566) — — — Other movements — 33 — 128 Profit for the year 2,825 — — — Translation differences 273 (320) — (93) Balance at December 31, 2024 17,291 5,153 54,882 15,127 Changes in scope of consolidation — 30 — 97 Additions 10 7,307 8,177 5,618 Disposals (4,551) (2,453) — (565) Change in valuation of derivatives — — (21,738) — Transfers — — — (326) Dividends (2,851) — — — Other movements — (26) — 370 Profit for the year 3,614 — — — Translation differences (207) (137) — (987) Balance at December 31, 2025 13,306 9,874 41,321 19,334 Thousands of euros
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55 Condensed Balance Sheet: Condensed income statement: Gestamp Auto Components Sales (Tianjin) Co., Ltd. Etem Gestamp Aluminium Extrusions, S.A. Changchun Xuyang Gestamp Auto Components Co. Ltd. Total non-current assets 58 78,395 3 Total current assets 135,944 15,216 40 Total non-current liabilities — (16,069) — Total current liabilities (126,467) (59,964) — Equity (9,737) (17,578) (61) Translation differences 202 — 18 Percentage of shareholding 49.% 49.% 49.% Carrying value of the investment 4,672 8,613 21 31-12-2025 Thousand of euros Gestamp Auto Components Sales (Tianjin) Co., Ltd. Etem Gestamp Aluminium Extrusions, S.A. Industrias Tamer, S.A. Changchun Xuyang Gestamp Auto Components Co. Ltd. Total non-current assets 43 81,833 — 3 Total current assets 149,097 18,480 838 106 Total non-current liabilities — (20,638) — — Total current liabilities (139,838) (63,104) (3) 1 Equity (9,090) (16,571) (835) (121) Translation differences (212) — — 11 Percentage of shareholding 49.% 49.% 43.% 49.% Carrying value of the investment 4,558 8,120 359 54 31-12-2024 Thousands of euros Gestamp Auto Components Sales (Tianjin) Co., Ltd. Etem Gestamp Aluminium Extrusions, S.A. Changchun Xuyang Gestamp Auto Components Co. Ltd. Operating income 485,381 9,723 — Operating expense (476,881) (6,374) (77) OPERATING PROFIT/LOSS 8,500 3,349 (77) Finance profit/loss 120 (2,492) — PROFIT/LOSS BEFORE TAX 8,620 857 (77) Income tax expense (2,155) — — Restatement of prior years’ profit/loss — 148 — PROFIT/LOSS FOR THE YEAR 6,465 1,005 (77) Percentage of shareholding 49.% 49.% 49.% Participation of the Group in profit/loss for the year 3,168 492 (38) 31-12-2025 Thousands of euros
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56 a.2) Loans granted The "Loans Granted" heading primarily includes: • The balance recorded by the subsidiary Gestamp North Europe Services, S.L., amounting to 8,020 thousand euros (1,554 thousand euros as at 31 December 2024), corresponds to the credit line granted by this company to a third party. This credit line accrues interest equivalent to Euribor plus a spread of 0.90%. • The balance maintained by Edscha do Brasil Ltda. with the Brazilian tax authorities amounted to 307 thousand euros as at 31 December 2025 (1,735 thousand euros and 265 thousand euros as at 31 December 2024, corresponding to Gestamp Sorocaba Industria de Autopeças Ltda. and Edscha do Brasil Ltda., respectively). Changes in the consolidation scope in 2025 amounting to 30 thousand euros corresponded to the changes generated in the business combination of the Industrias López Soriano Group (Note 3). a.3) Derivative financial instruments Derivative financial assets, amounting to 41,321 thousand euros as at 31 December 2025 (54,882 thousand euros as at 31 December 2024), are detailed in Note 23.b.1). a.4) Other current financial assets The amount recognised under "Other financial assets" at 31 December 2025 primarily includes guarantees and deposits made as security for leases, amounting to 18,869 thousand euros (14,682 thousand euros at 31 December 2024). Changes in the consolidation scope in 2025 amounting to 97 thousand euros corresponded to the changes generated in the business combination of the Industrias López Soriano Group (Note 3). b) Current financial assets The movement in Current financial assets at 31 December 2025 and 31 December 2024 is shown below: Gestamp Auto Components Sales (Tianjin) Co., Ltd. Etem Gestamp Aluminium Extrusions, S.A. Industrias Tamer, S.A. Changchun Xuyang Gestamp Auto Components Co. Ltd. Operating income 585,219 5,714 2,452 — Operating expense (576,437) (4,487) (1,075) (95) OPERATING PROFIT/LOSS 8,782 1,227 1,377 (95) Finance profit/loss 111 (2,850) (3) 1 Exchange gains (losses) 100 — — — Impairment and other results — — (944) — PROFIT/LOSS BEFORE TAX 8,993 (1,623) 430 (94) Income tax expense (2,256) — — — Restatement of prior years’ profit/loss — 368 — — PROFIT/LOSS FOR THE YEAR 6,737 (1,255) 430 (94) Percentage of shareholding 49.% 49.% 43.% 49.% Participation of the Group in profit/loss for the year 3,301 (615) 185 (46) 31-12-2024 Thousands of euros
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57 b.1) Loans granted Credits mainly relate to the loan granted in 2021 by the Parent Company to the equity-accounted investee Etem Gestamp Aluminium Extrusions, S.A. in the amount of 5,000 thousand euros (Note 32). This credit is due in October 2026 and accrues interest at rates between 1.5% and 5.6%. b.2) Current securities portfolio The amount recorded under Current securities portfolio at 31 December 2025 and 31 December 2024 relate to current deposits taken out by the following companies: The additions as at 31 December 2025 mainly correspond to short -term deposits contracted by Gestamp Auto Components (Kunshan) Co., Ltd., Beyçelik Gestamp Otomotiv Sanayi, A.S., Beyçelik Gestamp Sasi Otomotiv Sanayi, A.S., and Edscha do Brasil Ltda., amounting to 23,844 thousand euros. The most significant withdrawals as at 31 December 2025 mainly correspond to the maturity of short-term deposits contracted by Gestamp Brasil Industria de Autopeças, S.A. and Edscha do Brasil Ltda., amounting to 9,049 thousand euros. The additions as at 31 December 2024 mainly corresponded to short -term deposits contracted by the companies Gestamp Brasil Industrias de Autopeças, S.A., Edscha do Brasil, Ltda and Gestamp Pune Automotive Pvt amounting to 120,706 thousand euros. Loans granted Current securities portfolio Derivative financial instruments Other current financial assets Balance at December 31, 2023 6,765 88,018 — 54,875 Additions 1,989 122,483 — 2,246 Disposals (2,010) (10,367) — (36,986) Transfers — 16 1,727 12,725 Translation differences 29 (13,543) — (297) Balance at December 31, 2024 6,773 186,607 1,727 32,563 Additions 2,241 29,817 — 8,004 Disposals (276) (10,681) — (12,500) Change in valuation of derivatives — — 1,856 — Other movements (339) 36 — (90) Translation differences (136) (2,239) — (3,684) Balance at December 31, 2025 8,263 203,540 3,583 24,293 Thousands of euros 31-12-2025 31-12-2024 Gestamp Automoción, S.A. 6,494 7,590 Edscha do Brasil, Ltda 28,018 23,252 Gestamp Sorocaba Industria de Autopeças Ltda. — 4,480 Gestamp Brasil Industria de Autopeças, S.A 143,803 149,906 Beyçelik Gestamp Otomotiv Sanayi, A.S. 9,074 — Beyçelik Gestamp Sasi Otomotiv Sanayi, A.S. 5,587 — Others 10,564 1,379 Total 203,540 186,607 0.20% 10 - 100% CDI 10% - 101.25% CDI 0.20% Thousands of euros Average profitability -% 100% CDI
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58 The most significant disposals as at 31 December 2024 are mainly due to the maturity of short -term deposits contracted by the company Gestamp Sorocaba Industria de Autopeças, Ltda. amounting to 10,367 thousand euros. b.3) Derivative financial instruments Derivative financial assets amounting to 3,583 thousand euros as at 31 December 2025 (1,727 thousand euros as at 31 December 2024) are detailed in Note 23.b.1). b.4) Other current financial assets The balance under Other financial investments mainly comprises bank deposits of 22,971 thousand euros as at 31 December 2025 (30,487 thousand euros as at 31 December 2024), as well as security deposits amounting to 1,069 thousand euros (1,825 thousand euros as at 31 December 2024). Details of short-term bank deposits are as follows: The additions to bank deposits as at 31 December 2025 mainly correspond to the formalisation of bank deposits by Gestamp Automotive India Private Ltd., amounting to 4,405 thousand euros. The decrease in bank deposits as at 31 December 2025 mainly corresponds to the cancellation of deposits by Gestamp Baires, S.A., Gestamp Automotive Chennai Private Ltd., and Edscha Pha Ltd., amounting to 11,745 thousand euros. The reduction in bank deposits at 31 December 2024 was primarily due to the cancellation of the bank deposits by Gestamp Automotive India Private, Ltd, Gestamp Automotive Chennai Private Ltd, Gestamp Córdoba, S.A. and Edscha Pha, Ltd., amounting to 31,796 thousand euros. The transfers as at 31 December 2024, amounting to 12,725 thousand euros, mainly corresponded to the reclassification from the "Cash and cash equivalents” item of deposits held by the company Gescrap - Autometal Comercio de Sucatas, S/A, given that, after their renewal in 2023, their maturity has been modified to more than three months. Note 13. Inventories The breakdown of the Consolidated Financial Statement at 31 December 2025 and 31 December 2024 is as follows: 31-12-2025 31-12-2024 Gestamp Automotive India Private, Ltd 10,160 6,806 Edscha Pha, Ltd. — 6,535 Gescrap - Autometal Comercio de Sucatas, S/A 9,132 8,283 Gestamp Baires, S.A. — 1,767 Gestamp Automotive Chennai Private Ltd 1,260 7,095 Gestamp Pune Automotive Pvt. Ltd. 2,410 — Others 9 1 Total 22,971 30,487 Thousands of euros 101% CDI 3.61% 3.50% Average profitability — 3.50% 7.52% 2.01%
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59 (*) The variation in raw materials and other supplies is recognised under "Raw materials and other consumables" in the Consolidated Income Statement and is detailed below: The changes in the consolidation perimeter during 2025, amounting to 1,718 thousand euros, correspond to the acquisition of the Grupo Industrias López Soriano (Note 3). The Inventories were not encumbered on 31 December 2025 or 31 December 2024. Note 14. Assets from contracts with customers The detail of the Consolidated Balance Sheet at 31 December 2025 and 31 December 2024 is as follows: 31-12-2025 31-12-2024 Commercial inventories 75,772 73,203 Raw materials 180,948 206,666 Parts and assemblies 107,842 121,745 Spare parts 170,468 165,835 Packaging materials 3,202 3,681 Total cost of commodities and other consumables (*) 538,232 571,130 By-products, waste and recovered materials 1,088 710 Prepayments to suppliers 55,574 46,024 Total cost of inventories 594,894 617,864 Impairment of raw materials (*) (39,343) (20,662) Impairment of other supplies (*) (12,989) (12,640) Total impairment (52,332) (33,302) Total inventories 542,562 584,562 Thousands of euros Balance at Balance at 31-12-2024 31-12-2025 Raw materials and other supplies 571,130 — — (34,616) (34,616) 1,718 538,232 Impairment of raw materials and other supplies (33,302) (47,813) 28,783 — (19,030) — (52,332) Consumption (Note 27.a)) 537,828 (47,813) 28,783 (34,616) (53,646) 1,718 485,900 Changes in scope of consolidation TotalChanges in inventories Reversal of impairmentImpairment Change in inventories Thousands of euros 31-12-2025 31-12-2024 Work in progress 118,924 133,628 Semi-finished products 150,230 158,576 Finished products 168,207 175,863 Trade receivables, tooling 240,574 252,486 Total 677,935 720,553 Thousands of euros
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60 Trade receivables, tooling correspond to the income recognised pending invoicing. There are no prepayments exceeding the work -in-progress evaluation by customer. The amount of the construction certificates for tools in progress, which were recognised by reducing the balance of the Customer receivables, tools heading at 31 December 2025 amounted to 747 million euros. Likewise, this item amounted to 765 million euros at 31 December 2024. Note 15. Trade and other receivables/Other current assets and liabilities/Cash and cash equivalents a) Customer receivables – sales and service provision The detail of the Consolidated Balance Sheet at 31 December 2025 and 31 December 2024 is as follows: As indicated in Note 1, Group sales, as well as trade receivable balances, are concentrated across a limited number of customers due to the nature of the automotive industry. In general, trade receivable balances have high credit quality. The line item Impairment of trade receivables reflects changes in the provision for impairment, movements due to bad debts, and the effect of translation differences, amounting to 850 thousand euros as at 31 December 2025. The analysis of the age of financial assets linked to the sale of parts that are past due as of 31 December 2025 and 2024 is as follows: 31-12-2025 31-12-2024 Trade receivables 464,207 564,659 Trade bills receivables 15,036 34,931 Trade receivables, by work-in-progress machinery 45,048 53,528 Trade receivables, doubtful collection 3,644 2,331 Impairment of trade receivables (12,181) (11,331) Trade receivables, related parties (Note 32.1.) 145,418 249,215 Total 661,172 893,333 Thousands of euros 2025 2024 Less than 3 months 38,608 82,108 3 /6 months 8,122 14,791 6/ 9 months 3,139 5,346 9/ 12 months 2,056 7,978 More than 12 months 13,930 13,261 Total overdue debt pending collection 65,855 123,484 Impairment provision (12,181) (11,331) Total 53,674 112,153 Thousands of euros
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61 The amounts of these overdue financial assets that have not been provisioned correspond to customers for whom there is no history of default. The amount of assigned and outstanding credit rights by the Group in accordance with non -recourse factoring contracts formalised with financial entities in Spain, France, United States, Brazil, Portugal, Mexico, Poland, Hungary, Sweden, Czechia, Romania, Slovakia, Germany, the United Kingdom and Slovenia, and which have been derecognised from the Consolidated Balance Sheet, amounts to 740,526 thousand euros as of 31 December 2025 (790,879 thousand euros as of 31 December 2024). The expense recorded as at 31 December 2025 for the assignment of these credit rights under non - recourse factoring agreements amounted to 33,701 thousand euros (39,346 thousand euros as at 31 December 2024) (Note 28.b). b) Sundry receivables The detail of the Consolidated Balance Sheet at 31 December 2025 and 31 December 2024 is as follows: Receivables includes loans granted to Group employees for the purchase from Acek Desarrollo y Gestión Industrial, S.L. of shares in the Parent in 2016. These loans are secured by pledges over shares of the Parent Company, with maturity set at 31 December 2026, and the outstanding balance as at 31 December 2025 amounted to 2,199 thousand euros. The balance at 31 December 2024 was 6,123 thousand euros, which were transferred from the heading “Loans granted”. c) Current tax assets The balance under this line item in the Consolidated Balance Sheet amounted to 38,545 thousand euros as at 31 December 2025 (43,113 thousand euros as at 31 December 2024) and comprises receivables of the Parent Company and Group companies for corporate tax refunds. d) Public Administrations The detail of the Consolidated Balance Sheet at 31 December 2025 and 31 December 2024 is as follows: 31-12-2025 31-12-2024 Debtors 14,940 22,297 Debtors, related parties (Note 32.1.) 70 67 Remuneration prepayments 4,549 4,063 Short-term loans to staff 103 98 Total 19,662 26,525 Thousands of euros 31-12-2025 31-12-2024 Sundry receivables from tax authorities 196,548 189,613 VAT refund 129,356 131,043 Subsidies granted 8,489 3,699 Others 58,703 54,871 Income taxes from prior years 6,514 7,536 Receivables from Social Security 1,676 3,054 Total 204,738 200,203 Thousands of euros
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62 The “Others” heading mainly includes the following detail: ✓ Research and development credit of the subsidiary Gestamp North America, INC. amounting to 32,232 thousand euros at 31 December 2025 (36,552 thousand euros at 31 December 2024). ✓ Gestamp Brasil Industria de Autopeças, S.A. includes the following amounts to be highlighted: o Other taxes, IRPJ and CSLL to be recovered amounting to 12,562 thousand euros as of 31 December 2025 (7,270 thousand euros as of 31 December 2024). o In previous years, Gestamp Brasil Industrias de Autopeças, S.A. presented various claims demanding the right to exclude the State Tax on Goods and Services (ICMS) from the PIS contributions calculation base (Social Integration Programme) and from COFINS (Contribution for Social Security Financing). At 31 December 2025, as a result of final judgments, the subsidiary had recognised 7,742 thousand euros (6,207 thousand euros at 31 December 2024) in this regard, together with the related late -payment interest, under “Others” in relation to various items receivable from the tax authorities. e) Other current assets and liabilities The net amount of current assets and current liabilities items amounts to 111,324 thousand euros as at 31 December 2025 (155,165 thousand euros as at 31 December 2024). The breakdown was as follows: f) Cash and cash equivalents The detail of the Consolidated Balance Sheet at 31 December 2025 and 31 December 2024 is as follows: Cash equivalents correspond to deposits and surplus cash investments maturing in less than three months. The breakdown by currency and interest rate at 31 December 2025 and 31 December 2024 is as follows: Other current assets Other current liabilities Total Other current assets Other current liabilities Total Operating expenses 15,133 (63,895) (48,762) 26,329 (10,646) 15,683 Commercial agreements 151,187 (10,964) 140,223 123,914 — 123,914 Exchange rate derivative (Note 23.b.1)) 13 — 13 34 — 34 Others 24,255 (4,405) 19,850 18,012 (2,478) 15,534 Total 190,588 (79,264) 111,324 168,289 (13,124) 155,165 Thousands of euros 31-12-2025 31-12-2024 31-12-2025 31-12-2024 Cash 929,590 788,053 Cash equivalents 176,952 369,067 Total 1,106,542 1,157,120 Thousands of euros
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63 No restrictions existed regarding the use by the holders of the balances included in this heading in the accompanying Consolidated Balance Sheet. Note 16. Capital, own shares and share premium The information related to these headings at 31 December 2025 and 31 December 2024 was as follows: Company Thousands of euros Source currency Interest rate range Gestamp Brasil Industria de Autopeças, S.A. 12,421 Brazilian real 90%-92% CDI Gestamp Baires, S.A. 3,602 Argentine peso 15.00% Gestamp Auto Components (Kunshan) Co., Ltd 55,352 Renminbi Yuan 1.15% Gestamp Severstal Kaluga, Llc. 32,427 Russian ruble 9.00% - 13.75% Gestamp Automotive Chennai Private Ltd 267 Indian Rupee 5.05% Gestamp Auto Components (Shenyang), Co. Ltd. 34,260 Renminbi Yuan 1.15% - 1.85% Gestamp Auto Components (Dongguang), Co. Ltd. 16,215 Renminbi Yuan 1.14% - 1.35% Gestamp Auto components Beijing 13,533 Renminbi Yuan 0.75% - 0.85% Edscha Holding GmbH 1 Euro 0.50% Edscha Aditya Automotive 96 Indian Rupee 0.70% Gestamp Metal Forming (Wuhan), Ltd 6,340 Renminbi Yuan 1.15% - 1.35% Gestamp Autoc. Chongquing 2,438 Renminbi Yuan 1.14% - 1.35% Total 176,952 31-12-2025 Company Thousands of euros Source currency Interest rate range Gestamp Córdoba, S.A. 5 Brazilian real 2.59% Gestamp Brasil Industria de Autopeças, S.A. 36,527 Brazilian real 90,0% - 101,8% CDI Gestamp Baires, S.A. 3,305 Brazilian real 0.50% - 66.00% Gestamp Auto Components (Kunshan) Co., Ltd 101,237 Renminbi Yuan 0.90% - 1.55% Gestamp Severstal Vsevolozhsk LLC (Stadco LLC) 950 Russian ruble 18.54% - 18.81% Gestamp Severstal Kaluga, Llc. 22,089 Russian ruble 12.50% - 21.80% Gestamp Auto Components (Shenyang), Co. Ltd. 78,078 Renminbi Yuan 1.50% - 1.85% Gestamp Auto Components (Dongguang), Co. Ltd. 21,041 Renminbi Yuan 1.50% - 1.55% Gestamp China Holding 16,013 Renminbi Yuan 1.50% Gestamp Sorocaba Industria de Autopecas Ltda. 2,079 Brazilian real 90.00% CDI Gestamp Auto components Beijing 52,364 Renminbi Yuan 1.35% Edscha Holding GmbH 6,000 Euro 1.10% Gestamp Metal Forming (Wuhan), Ltd 25,938 Renminbi Yuan 1.50% - 1.55% Gestamp Autoc. Chongquing 3,441 Renminbi Yuan 1.50% - 1.55% Total 369,067 31-12-2024 ITEM 31-12-2025 31-12-2024 No. of shares 575,514,360 575,514,360 Par value 0.50 0.50 Issued capital (par value) 287,757 287,757 Own shares (19,293) (20,192) Share premium 61,591 61,591 Thousands of euros
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64 a) Capital The shareholder structure at 31 December 2025 and 31 December 2024 was as follows: Acek Desarrollo y Gestión Industrial, S.L. has an equity interest of 75% in the capital of Gestamp 2020, S.L.; thus, its total holding (direct and indirect) in the Parent Company was 62.50% at 31 December 2025 (62.18% at 31 December 2024). The 0.32% increase in Acek Desarrollo y Gestión Industrial, S.L.'s participation in the capital of the Parent Company occurred through the purchase of 1,850,976 shares in successive acquisitions during the 2025 financial year. There are no bylaw restrictions on the transfer of shares forming the Group's capital. b) Own shares On 27 July 2018, the Parent Company entered into a liquidity agreement with JB Capital Markets, S.V., S.A.U., adapted to Circular 1/2017, of 26 April, of the CNMV. The framework of this agreement will be the Spanish stock markets. This agreement stipulates the conditions under which the financial intermediary will operate for the account of the issuer, buying or selling own shares of the latter, with the sole objective of favouring the liquidity and regularity of their listing, for a duration of 12 months, which will be deemed to be tacitly extended for the same period unless indicated otherwise by the parties. The amount earmarked to the cash account associated with the agreement was 9,000 thousand euros. In May 2024, the Parent Company's Board of Directors agreed to set up a programme for the repurchase of treasury shares in order to provide the Parent Company with sufficient treasury shares to enable the delivery of Company shares to certain Group employees, beneficiaries of the 2024 -2026 long -term incentive programme (Note 6.15), with a maximum monetary amount of 12 million euros and a maximum number of 3,014,319 shares. As a result of the above, on 31 May 2024, the liquidity contract signed with JB Capital Markets, S.V., S.A.U. was temporarily suspended and resumed on 12 August 2024 after completion of the repurchase of the 3,014,319 shares established in the Repurchase Programme. Own shares at 31 December 2025 represented 1.13% of the Parent Company's share capital (1.23% at 31 December 2024) and totalled 6,508,845 shares (7,097,059 shares at 31 December 2024), at an average acquisition price of 2.964 euros per share (2.845 euros per share at 31 December 2024). Shareholders 31-12-2025 31-12-2024 Acek Desarrollo y Gestión Industrial, S.L. 24.923% 24.601% Gestamp 2020, S.L. 50.100% 50.100% Own shares 1.131% 1.233% Free Float 23.846% 24.065% 100.00% 100.00% % shareholding
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65 The movement in 2025 and 2024 was as follows: The sale price of treasury shares in the 2025 financial year, as detailed in the table above, amounted to 26,533 thousand euros (16,850 thousand euros as at 31 December 2024), generating a positive result of 734 thousand euros (negative result of 2,620 thousand euros as at 31 December 2024), which has been recorded under Distributable Reserves (Note 17.2). c) Issue premium At 31 December 2025 and 31 December 2024, the share Premium of the Parent Company amounted to 61,591 thousand euros. The amended Spanish Corporate Enterprises Act (Ley de Sociedades de Capital) expressly allows the use of share premium balance to increase share capital balance, corresponding to an unrestricted reserve. Number of own shares Thousands of euros Balance at December 31, 2023 3,169,656 11,934 Increases/Purchases 10,055,793 27,728 Decreases/Sales (6,128,390) (19,470) Balance at December 31, 2024 7,097,059 20,192 Increases/Purchases 8,513,507 24,900 Decreases/Sales (9,101,721) (25,799) Balance at December 31, 2025 6,508,845 19,293
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66 Note 17. Cumulative earnings The movements in “Retained earnings” for 2025 and 2024 are as follows: Legal reserve (Parent Company) Unrestricted reserves (Parent Company) Reserves at fully consolidated companies Reserves at associates Profit for the year Other equity instruments Effective hedges Total AT JANUARY 1, 2025 57,550 1,414,438 803,676 (482) 188,489 10,360 6,979 2,481,010 Profit/ (Loss) for the period — — — — 152,207 — — 152,207 Fair value adjustments (Hedge) (Note 23.b.1)) — — — — — — (6,265) (6,265) Actuarial gains and losses — — 4,338 — — — — 4,338 Appropiation of 2024 profits — 35,771 122,405 2,825 (188,489) — — (27,488.00) Dividends distributed by the Parent Company (Note 17.2) — (29,079) — — — — — (29,079) Dividends distributed by subsidiaries (Note 19) — 6,580 (6,580) — — — — — Dividends distributed by associates (Note 12) — — 2,851 (2,851) — — — — Treasury shares transactions (Note 16.b)) (Note 17.2) — 734 — — — — — 734 Changes in the scope of consolidation (Note 2.b and 19) — — 59,240 (70) — — — 59,170.00 Variation in shareholding in companies with previous control (Note 2.b) — — (9,568) — — — — (9,568) Dissolution of subsidiaries — (304) 304 — — — — — Compensation based on shares (Long-term incentive plan) (Note 27.b)) — — — — — 4,809 — 4,809 Valuation of derivative financial instruments "Andromeda" (Note 2.b) — 7,603 (4,295) — — — — 3,308 Other movements — — (302) — — — — (302) AT DECEMBER 31, 2025 57,550 1,435,743 972,069 (578) 152,207 15,169 714 2,632,874
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67 Legal reserve (Parent Company) Unrestricted reserves (Parent Company) Reserves at fully consolidated companies Reserves at associates Profit for the year Other equity instruments Effective hedges Total AT JANUARY 1, 2024 57,550 559,564 1,507,941 1,835 280,668 2,480 31,983 2,442,021 Profit/ (Loss) for the period — — — — 188,490 — — 188,490 Fair value adjustments (Hedge) (Note 23.b.1)) — — — — — — (25,004) (25,004) Actuarial gains and losses — — 189 — — — — 189 Appropriation of 2023 profits — (49,729) 289,098 1,249 (280,669) — — (40,051.00) Dividends distributed by the Parent Company (Note 17.2) — (44,101) — — — — — (44,101) Dividends distributed by subsidiaries — 951,324 (951,324) — — — — — Dividends distributed by associates (Note 12) — — 3,566 (3,566) — — — — Treasury shares acquisitions (Note 16.b)) (Note 17.2) — (2,620) — — — — — (2,620) Variation in shareholding in companies with previous control (Note 2.b) — — (45,615) — — — — (45,615) Compensation based on shares (Long-term incentive plan) (Note 27.b)) — — — — — 7,880 — 7,880 Other movements — — (179) — — — — (179) AT DECEMBER 31, 2024 57,550 1,414,438 803,676 (482) 188,489 10,360 6,979 2,481,010
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68 17.1. Legal reserves of the Parent Company The legal reserve of the Parent Company amounted to 57,551 thousand euros at 31 December 2025 and 31 December 2024. The Parent Company is obliged to transfer 10% of each year's profit to a reserve fund until it reaches at least 20% of share capital, equivalent to 57.6 million euros at 31 December 2025 and 31 December 2024. This reserve is not distributed to the shareholders and may only be used to cover the debt balance of the profit and loss account, if there are no other available reserves. At 31 December 2018, the Legal Reserve had already reached 20% of the Parent Company's Share Capital; accordingly, in that year, it was not necessary to allocate any amount of profits to increase said reserve. 17.2. Distributable reserves of the Parent Company The most significant movements as at 31 December 2025 and at 31 December 2024 relating to the Distributable Reserves, in addition to the distribution of the profit for the year 2024, are as follows: December 2025 ➢ Result (losses) from the purchase and sale of treasury shares amounting to 734 thousand euros (Note 16.b)). ➢ Distribution of dividends by the Parent in the amount of 56,567 thousand euros: ◦ Minutes of the General Shareholders' Meeting of 9 May 2025, in which: - The proposal for the application of the profit for the financial year 2024 is approved, consolidating the Interim Dividend of the results of said financial year approved at the meeting of the Board of Directors held on 18 December 2024, for a gross amount of 0.04835 euros gross per share, to each of the ordinary shares outstanding. This interim dividend amounted to 27,488 thousand euros and was pending payment at 31 December 2024 (Note 23.d) and was paid on 14 January 2025. - It was resolved to distribute, with a charge to unrestricted reserves, a final dividend of 0.0511 euros gross per share of the Parent entitled to receive it. This final dividend amounted to 29,079 thousand euros and was paid on 2 July 2025 (Note 23.d). ➢ Dividends distributed by subsidiaries. - Minutes of the Extraordinary and Universal General Meeting of Shareholders of Sideacero, S.L., approving the distribution to shareholders of a dividend charged to voluntary reserves for an amount of 10,000 thousand euros, of which the amount attributable to the Parent Company is 3,334 thousand euros (Note 19). - Minutes of the Extraordinary and Universal General Meeting of Shareholders of Gestamp Aragón, S.A., approving the distribution to shareholders of a dividend charged to voluntary reserves for an amount of 30,000 thousand euros, of which the amount attributable to the Parent Company is 1,503 thousand euros. - Minutes of the Extraordinary and Universal General Meeting of Shareholders of Gestamp Manufacturing Autochasis, S.L., approving the distribution to shareholders of
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69 a dividend charged to voluntary reserves for an amount of 30,000 thousand euros, of which the amount attributable to the Parent Company is 1,503 thousand euros. - Minutes of the Extraordinary and Universal General Meetings of Shareholders of Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L., and Gestamp Real Estate Management 3, S.L., approving the distribution to shareholders of an interim dividend from the financial year results of 1,277 thousand euros and the repayment of Share Premium amounting to 1,988 thousand euros, of which the amount attributable to the Parent Company is 240 thousand euros (Note 19). ➢ Valuation of “Andrómeda” derivative financial instruments. - As indicated in Note 2.b, following the entry of Andrómeda Principal Investments, S.L.U. into the capital of Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L., and Gestamp Real Estate Management 3, S.L., an agreement was signed with the minority shareholders recognising a drag - along right. This right is considered equivalent to a put option over the shares of the companies at a variable price and, if exercised, triggers the sale of 100% of the Partners’ shares to a third party, settled at market price, i.e. at the price offered by the buyer. The initial valuation of this right amounts to 4,295 thousand euros, recorded as a liability in the Group’s Consolidated Balance Sheet (Note 2.b). Similarly, under this agreement, a call option arises and is recognised as an asset in the balance sheet, under which, during the period in which the minority shareholders maintain their interest, Gestamp Automoción, S.A. has the right to acquire all of their interests. This option was initially measured at fair value at the transaction date at an amount of 7,603 thousand euros (Note 2.b). The initial valuation of these financial instruments resulted in a net increase in equity of 3,308 thousand euros. December 2024 ➢ Result (loss) of the purchase and sale of own shares for 1,555 thousand euros (Note 16.b). ➢ Distribution of dividends by the Parent in the amount of 84,153 thousand euros: ◦ Minutes of the General Shareholders' Meeting of 9 May 2024, in which: - The proposal for the application of the profit for the financial year 2023 is approved, consolidating the Interim Dividend of the results of said financial year approved at the meeting of the Board of Directors held on 18 December 2023, for a gross amount of 0.070 euros gross per share, to each of the ordinary shares outstanding. This interim dividend amounted to 40,051 thousand euros and was pending payment at 31 December 2023, and was paid on 10 January 2024. - It was resolved to distribute, with a charge to unrestricted reserves, a final dividend of 0.0773 euros gross per share of the Parent entitled to receive it. This final dividend amounted to 44,102 thousand euros and was paid on 03 July 2024.
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70 ➢ Dividends distributed by subsidiaries. - Minutes of the Extraordinary and Universal General Shareholders' Meeting of Sideacero, S.L., whereby it was resolved to approve the distribution to shareholders of a dividend charged to voluntary reserves in the amount of 12,000 thousand euros, of which the amount corresponding to the Parent Company totalled 3,966 thousand euros (Note 19). 17.3. Availability of reserves at fully consolidated companies Reserves held by companies consolidated under the full consolidation method are subject to a number of restrictions as to their availability depending on whether they are legal reserves, revaluation reserves or other special reserves. The restrictions regarding the reserves mentioned above are the following: a) Legal reserves at subsidiaries According to prevailing legislation in the countries where these companies are located, legal reserves must reach a certain percentage of share capital, so that each year a percentage of net profit is applied to offset losses or increase share capital. The amount of the legal reserve at 31 December 2025 and 31 December 2024 totalled 165,814 thousand euros and 151,564 thousand euros, respectively. b) Reserve for the first-time application of IFRS (1 January 2007) As a result of valuation of Property, plant and equipment at fair value, the land and buildings of certain subsidiaries were valued at their appraised values and an increase in reserves has been registered in the amount of the difference between the said assets´ fair values and the net carrying amounts registered by each company. The reserves deriving from these revaluations, net of tax, amounted to 104 million euros at 31 December 2025 and 106 million euros at 31 December 2024, respectively. These reserves are not distributable. c) Other reserves of subsidiaries In accordance with the current legislation of the countries in which the Group operates, the distributions of dividends are governed by law. Also, restrictions exist relating to revaluation reserves, development costs and other legal restrictions, which are not significant. 17.4. Approval of the Financial Statements and proposed distribution of profit The 2025 Individual Financial Statements of the Group companies will be proposed for approval by their respective General Shareholders' Meetings within the periods provided for by the prevailing legislation. The Parent Company's directors consider that, as a result of this process, no changes will occur that may significantly affect the Consolidated Financial Statements in 2025. The Group's Consolidated Financial Statements for 2025 were prepared by the Parent Company's Governing Board on 26 February 2026. The Board of Directors of the Parent Company estimates that they will be approved by the General Shareholders' Meeting of the Parent Company without modifications.
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71 The Board of Directors of the Parent Company will propose to the General Shareholders' Meeting the following allocation of the Company's result for the year ended 31 December 2025: Thousands of euros Distributable profit Balance of the Consolidated Income Statement (Profit) 64,489 Application Interim dividends 22,248 Voluntary reserves 42,241 At a meeting held on 16 December 2025, the Board of Directors of the Parent Company agreed to distribute an interim dividend on the results of the 2025 financial year in cash, for a gross amount of 0.0391 euros gross per share, to each of the ordinary shares in circulation. The amount of this interim dividend amounts to 22,248 thousand euros (the number of treasury shares existing on 13 January 2026 amounted to 6,502,845, which are not remunerated) and is pending payment as of 31 December 2025 (Note 23.d)), becoming effective on 14 January 2026. Limitations to the Distribution of Dividends The Parent Company is required to allocate 10% of the profits for the year to set up a legal reserve until this reserve represents at least 20% of the share capital. This reserve, to the extent that it does not exceed the limit of 20% of the share capital, is not distributable to shareholders (Note 17.1.). Once the provisions stipulated by law are covered, dividends may only be distributed with a charge to profit for the year or to unrestricted reserves, if the value of equity is not, or as a result of the distribution, does not become, less than the share capital. For these purposes, profits taken directly to equity may not be shared out, either directly or indirectly. If the losses from previous years prompt the Parent Company’s equity to drop below the share capital figure, profits must be allocated to offset these losses. In addition to these legal limitations, there are other contractual limitations detailed in Note 23.a.3). Note 18. Translation differences The detail of translation differences by country is as follows:
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72 Changes in translation differences at 31 December 2025 led to a negative net change of 229,475 thousand euros compared to 2024, mainly due to the following variations: • in Western Europe, due to the exposure of Spanish companies in foreign currency positions partially offset by the fluctuation of the Swedish krona; • in Eastern Europe, due to the fluctuation of the Turkish lira partially offset by the effect of the Russian rouble; • in North America, mainly due to the fluctuation of the US dollar, partially offset by the Mexican peso; • In Mercosur, fluctuations of the Argentine peso, partially offset by the Brazilian real, and • in Asia, mainly due to the fluctuation of the Chinese yuan, Indian rupees and, to a lesser extent, the Japanese yen and Korean won. Translation differences as at 31 December 2025 for Argentina and Türkiye reflect the effect of the inflation adjustment, amounting to 95,650 thousand euros and 70,630 thousand euros, respectively (95,452 thousand euros and 51,872 thousand euros as at 31 December 2024) (Note 4.5). Note 19. Non-controlling interests The movements in this heading, by company, as at 31 December 2025 and 31 December 2024, were as follows: Country 31-12-2025 31-12-2024 Difference Western Europe Germany 643 3,239 (2,596) Spain (54,324) (48,942) (5,382) United Kingdom (8,240) (6,263) (1,977) Sweden (54,012) (55,925) 1,913 Morocco 251 597 (346) Eastern Europe Hungary (6,024) (7,049) 1,025 Poland (16,516) (19,186) 2,670 Czech Republic 479 (2,034) 2,513 Romania (744) (645) (99) Russia (81,977) (87,078) 5,101 Türkiye (92,158) (86,688) (5,470) Bulgaria 4 3 1 Mercosur Argentina (92,353) (77,539) (14,814) Brazil (76,396) (75,200) (1,196) North America USA (129,568) 6,674 (136,242) Mexico (39,023) (48,237) 9,214 Asia China (38,454) 19,982 (58,436) South Korea (7,134) (4,014) (3,120) India (28,814) (10,071) (18,743) Japan (3,990) (1,076) (2,914) Thailand 41 98 (57) Taiwan (198) 322 (520) Total (728,507) (499,032) (229,475) Thousands of euros
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73 The most significant movements in Non-controlling Interests at 31 December 2025 related to: Changes in the consolidation scope: ➢ Following the incorporation in May 2025 of the companies Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L. and Gestamp Real Estate Management 3, S.L., on 9 September 2025 a capital increase was formalised through the subscription and payment of new preferred shares in each of those companies, subscribed by Andromeda Principal Investments, S.L.U., a real -estate investment entity led by Banco Santander, S.A., acquiring a shareholding of less than 50% (24.92%, 43.89%, 37.41% and 36.19%, respectively). The disbursement made by the investing entity for the acquisition of the aforementioned minority holdings amounted to a total of 245 million euros. See Note 2. b. Distribution of dividends by companies: ➢ Gestamp Brasil Industria Autopeças, S.A.. ➢ Gestamp Holding México S.L. ➢ Edscha Aapico Automotive Co. Ltd. ➢ Edscha Pha, Ltd. ➢ Beyçelik Gestamp Otomotive Sanayi, A.S., Beyçelik Gestamp Sasi Otomotiv Sanayi, A.S., Çelik Form Gestamp Otomotiv A.S., y Beyçelik Gestamp Teknoloji Kalip Sanayi, A.S. ➢ Jui Li Edscha Body System Co. Ltd. y Jui Li Edscha Hainan Industry Enterprise Co., Ltd. ➢ Gestamp Auto Components Beijing Co. Ltd. ➢ Gescrap S.L, Gescrap Desarrollo, S.L., Gescrap Autometal Comercio de Sucatas S.A., Recuperaciones Medioambientales Industriales, S.L., Gescrap Navarra, S.L., Gescrap Recycling S.XXI, S.L. Company 31-12-2024 Changes in scope of consolidation Capital increase Translation differences Dividends distribution Increase % participation in companies with prior control Other movements Profit /Loss 31-12-2025 Gestamp Holding Rusia, S.L./Todlem, S.L./ Gestamp Severstal Vsevolozhsk Llc./ Gestamp Severstal Kaluga, Llc. (1,221) — — 4,760 — (2,004) 159 1,002 2,696 Edscha Pha, Ltd./Edscha Pha Automotive Components (Kunshan) Co. Ltd. 27,916 — — (1,780) (3,672) — 15 3,642 26,121 Edscha Aapico Automotive Co. Ltd. 1,282 — — (65) (398) — (54) 408 1,173 Edscha Aditya Automotive Systems Private Ltd. 1,533 — — (242) — — — 109 1,400 Gestamp Brasil Industria Autopeças, S.A. 45,527 — — 1,325 (11,206) — 31 11,495 47,172 G. Holding Argentina, S.L. and Argentinian companies (4,693) — — (81) — — 53 (71) (4,792) G. Holding México, S.L. and Mexican companies 181,982 — — 2,075 584 — 426 (1,120) 183,947 Beyçelik Gestamp Otomotive Sanayi, A.S. / Çelik Form Gestamp Otomotive, A.S./ Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S./Gestamp Beycelik Romanía, S.R.L./Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. 130,381 — — (7,220) (7,462) — (210) 24,841 140,330 Gestamp Automotive India Private Ltd. 59,115 — — (10,187) — — (8) 5,870 54,790 Smart Industry Consulting and Technologies, S.L.U. (16) — 96 — — — 30 (161) (51) Jui Li Edscha Body S ystem Co. Ltd./Jui Li Edscha Hainan Industry Enterprise Co. Ltd/ Jui Li Edscha Holding Co. Ltd. 6,741 — — (595) (2,404) — (272) 2,681 6,151 Gestamp Etem Automotive Bulgaria, S.A. 7,085 — — 1 — — (4) 1,954 9,036 G. Auto Components (Tianjin) Co. Ltd./G. Auto Components Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. 111,272 — — (6,790) (31,986) — (376) 21,545 93,665 Sideacero and Gescrap and Reimasa companies 159,042 (845) — (1,627) (7,937) — (480) 17,895 166,048 Gestamp Real Estate Bizkaia, S.L./Gestamp Real Estate Assets 1, S.L./Gestamp Real Estate Investment 2, S.L./Gestamp Real Estate Management 3, S.L. — 186,864 — — (9,373) — — 5,090 182,581 Total 725,946 186,019 96 (20,426) (73,854) (2,004) (690) 95,180 910,267 Thousands of euros
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74 ➢ Gestamp Real Estate Bizkaia, S.L, Gestamp Real Estate Assets 1 S.L., Gestamp Real Estate Investment 2, S.L., and Gestamp Real Estate Management 3, S.L. Increased ownership in companies with prior control: ➢ Change in the percentage of ownership interest in Gestamp Holding Rusia S.L., and consequently in the companies in which it holds stakes, Todlem, S.L., Gestamp Severstal Vsevolozhsk Llc. and Gestamp Severstal Kaluga, Llc., amounting to -2,004 thousand euros (Note 2.b). The most significant movements in Non-controlling Interests at 31 December 2024 related to: Capital increases: ➢ The most significant capital increases are those carried out in the company Gescrap Türkiye metal Sanayi ve ticaret Limited Sirketi, amounting to 1,399 thousand euros. Distribution of dividends by companies: ➢ Edscha Aapico Automotive Co. Ltd. ➢ Edscha Pha, Ltd. ➢ Beyçelik Gestamp Otomotive Sanayi, A.S., Beyçelik Gestamp Sasi Otomotiv Sanayi, A.S., Çelik Form Gestamp Otomotiv A.S., y Beyçelik Gestamp Teknoloji Kalip Sanayi, A.S. ➢ Jui Li Edscha Body System Co. Ltd. y Jui Li Edscha Hainan Industry Enterprise Co., Ltd. ➢ Gestamp Auto Components Beijing Co. Ltd. ➢ Distribution of dividends by the companies Gescrap S.L, Gescrap Desarrollo, S.L., Gescrap France, S.A.R.L., Gescrap Autometal Comercio de Sucatas S.A., Gescrap Autometal México, S.A. de C.V., Ges Recycling Limited, Gescrap Autometal México Servicios, S.A. de C.V. and Gescrap Noroeste, S.L. Company 31-12-2023 Changes in scope of consolidation Capital increase Translation differences Dividends distribution Increase % participation in companies with prior control Other movements Profit /Loss 31-12-2024 Gestamp Holding Rusia, S.L./Todlem, S.L./ Gestamp Severstal Vsevolozhsk Llc./ Gestamp Severstal Kaluga, Llc. (378) — — (681) — — (5) (157) (1,221) Edscha Pha, Ltd./Edscha Pha Automotive Components (Kunshan) Co. Ltd. 27,427 — — (532) (3,613) — (347) 4,981 27,916 Edscha Aapico Automotive Co. Ltd. 1,225 — — 71 (465) — — 451 1,282 Edscha Aditya Automotive Systems Private Ltd. 1,525 — — 46 — — — (38) 1,533 Gestamp Brasil Industria Autopeças, S.A./Gestamp Sorocaba Industria de Autopecas Ltd. 46,004 — — (10,151) — — 1,263 8,411 45,527 G. Holding Argentina, S.L. and Argentinian companies (4,049) — 119 200 — — 24 (987) (4,693) G. Holding México, S.L. and Mexican companies 193,489 — — (16,909) — — (1,238) 6,640 181,982 G. North America, INC and North American companies 19,768 — — (23,929) — 22,446 722 (19,007) — Beyçelik Gestamp Otomotive Sanayi, A.S. / Çelik Form Gestamp Otomotive, A.S./ Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S./Gestamp Beycelik Romanía, S.R.L./Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. 77,893 — — 40,666 (12,418) — — 24,240 130,381 Gestamp Automotive India Private Ltd. 51,334 — — 1,602 — — 306 5,873 59,115 Smart Industry Consulting and Technologies, S.L.U. 96 — 72 — — — 18 (202) (16) Jui Li Edscha Body S ystem Co. Ltd./Jui Li Edscha Hainan Industry Enterprise Co. Ltd/ Jui Li Edscha Holding Co. Ltd. 5,349 — — (116) (1,667) — (122) 3,297 6,741 Gestamp Etem Automotive Bulgaria, S.A. 7,055 — — (8) — — 103 (65) 7,085 G. Auto Components (Tianjin) Co. Ltd./G. Auto Components Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. 84,936 — — 4,321 (12,968) — 43 34,940 111,272 Sideacero and Gescrap and Reimasa companies 148,855 — 1,399 (5,296) (13,264) 1 (434) 27,781 159,042 Total 660,260 — 1,590 (10,716) (44,395) 22,447 602 96,158 725,946 Thousands of euros
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75 Increased ownership in companies with prior control: ➢ Change in the percentage of participation of Gestamp North America INC and American companies amounting to 22,446 thousand euros (Note 2.b)). ➢ Changes in ownership percentage of Gescrap Türkiye Metal Sanayi ve ticaret Limited Sirketi amounting to 1 thousand euros (Note 2.b)). The most relevant minority interests described in this note have protective rights mainly related to significant decisions on divestment of fixed assets, corporate restructurings, provision of guarantees, and amendments to the bylaws. These protecting rights do not significantly restrict the Group capacity to access to or to use their assets as well as to liquidate their liabilities. The financial information of subsidiaries that have significant non -controlling interests is shown in the following table, which has been prepared as follows: • Based on the individual financial statements of each subgroup, except for Mexico and Brazil, where consolidated financial statements have been used. • These financial statements are presented adapted to the Group's criteria. • Intercompany eliminations made in the consolidation process of the Gestamp Automoción Group are not included. • The rest of the consolidation adjustments made in the consolidation process of the Gestamp Automoción Group are presented in an additional line. • For the Sideacero Subgroup, as it is considered a segment within the Group, the most relevant financial information is detailed in Note 9.
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76 Summarized income statement for 31 December 2025 and 31 December 2024: (*) The minority interests range between 24.92% and 43.89%; however, the economic rights amount to 60% (see Note 2.b). Item Mexico Subgroup Brazil Subgroup Beyçelik Gestamp Kalip, A.S Subgroup Todlem Subgroup G. Auto Comp. (Tianjin) Co. Ltd./G. Auto Comp. Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. Gestamp Automotive India Private Ltd. Total Operating income 609,716 668,132 889,200 13,907 604,989 105,791 2,891,735 Operating expense (568,956) (613,739) (795,302) (13,120) (525,015) (95,920) (2,612,052) Operating profit 40,760 54,393 93,898 787 79,974 9,871 279,683 Finance income/(cost) (5,387) (17,399) (17,683) 502 (223) 4,094 (36,096) Exchange gain (losses) 3,368 (2,895) (16,876) (709) 19 1,267 (15,826) Impairment and other 12,154 (435) — — — — 11,719 Profit before taxes 50,895 33,664 59,339 580 79,770 15,232 239,480 Income tax expense (20,476) (3,498) (39) — — — (24,013) Profit attributable to parent company 30,419 30,166 59,300 580 79,770 15,232 215,467 30.00% 30.00% 50.00% 29.23% 50.00% 49.00% Gain (Loss) attributable to non-controlling interest 9,126 9,050 29,650 170 39,087 7,616 94,699 Consolidation adjustments (2,486) (639) (5,410) (326) (4,147) (1,743) (14,751) Non-controlling interest profit 6,640 8,411 24,240 (156) 34,940 5,873 79,948 Other non-controlling interest of the subgroup — — — (1) — — (1) Onther non-significative non-controlling interest and Gescrap — — — — — — 16,211 Total profit (loss) attributable to non-controlling interests 6,640 8,411 24,240 (157) 34,940 5,873 96,158 2024
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77 Summarised balance sheet as of 31 December 2025 and 31 December 2024: Summary of cash flows for 31 December 2025 and 31 December 2024: Item Mexico Subgroup Brazil Subgroup Beyçelik Gestamp Kalip, A.S. Subgroup Todlem Subgroup G. Auto Comp. (Tianjin) Co. Ltd./G. Auto Comp. Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. Gestamp Automotive India Private Ltd. Gestamp R.E. Bizkaia, S.L./Gestamp R.E. Assets 1, S.L./Gestamp R.E. Investment 2, S.L/Gestamp R.E. management 3, S.L. Total Total non-current assets 334,500 265,746 376,023 42,509 156,479 42,804 376,259 1,594,320 Total current assets 369,510 241,673 331,691 49,706 240,170 92,761 20,290 1,345,801 Total non-current liabilities (32,454) (111,593) (58,871) (46,532) (361) (2,809) (4,720) (257,341) Total current liabilities (139,022) (192,997) (355,095) (36,905) (196,412) (10,252) (3,979) (934,662) Equity (435,010) (138,811) (345,634) (64,659) (213,165) (156,423) (387,850) (1,741,552) Translation differences (97,524) (64,018) 51,886 55,881 13,289 33,919 — (6,567) 30.00% 30.00% 50.00% 29.23% 49.00% 50.00% (*) Equity attributable to non-controlling interest (159,760) (60,849) (146,874) (2,566) (97,939) (61,252) (151,908) (681,148) Consolidation adjustments (24,187) 13,677 6,544 (130) 4,274 6,462 (30,673) (24,033) Non-controlling interest (183,947) (47,172) (140,330) (2,696) (93,665) (54,790) (182,581) (705,181) Other non-significant non-controlling interest and Gescrap — — — — — — — (205,086) Total non-controlling interests (910,267) 2025 Item Mexico Subgroup Brazil Subgroup Beyçelik Gestamp Kalip, A.S. Subgroup Todlem Subgroup G. Auto Comp. (Tianjin) Co. Ltd./G. Auto Comp. Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. Gestamp Automotive India Private Ltd. Total Total non-current assets 322,533 254,135 383,519 32,489 187,660 54,600 1,234,936 Total current assets 389,339 283,557 347,674 36,404 328,231 97,456 1,482,661 Total non-current liabilities (20,915) (127,164) (84,154) (43,560) (6,386) (3,139) (285,318) Total current liabilities (168,282) (213,571) (373,121) (33,028) (272,755) (22,237) (1,082,994) Equity (626,782) (268,870) (327,424) (55,846) (235,757) (139,946) (1,654,625) Translation differences 104,107 71,913 53,506 63,541 (993) 13,266 305,340 30.00% 30.00% 50.00% 29.23% 49.00% 50.00% Equity attributable to non-controlling interest (156,803) (59,087) (136,959) 2,249 (116,008) (63,340) (529,948) Consolidation adjustments (25,179) 13,560 6,578 (1,028) 4,736 4,225 2,892 Non-controlling interest (181,982) (45,527) (130,381) 1,221 (111,272) (59,115) (527,056) Other non-significant non-controlling interest and Gescrap — — — — — — (198,890) Total non-controlling interests (725,946) 2024 Item Mexico Subgroup Brazil Subgroup Beyçelik Gestamp Kalip, A.S Subgroup Todlem Subgroup G. Auto Comp. (Tianjin) Co. Ltd./G. Auto Comp. Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. Gestamp Automotive India Private Ltd. Gestamp R.E. Bizkaia, S.L./Gestamp R.E. Assets 1, S.L./Gestamp R.E. Investment 2, S.L/Gestamp R.E. management 3, S.L. Operating activities 34,661 59,064 143,103 5,763 74,895 16,291 17,190 Investing activities (53,123) (32,216) (52,963) (1,294) (32,363) (5,068) (249,476) Financing activities 15,808 (63,600) (75,766) 9,436 (119,526) (9,422) 249,508 Net increase (decrease) of cash or cash equivalents (2,654) (36,752) 14,374 13,905 (76,994) 1,801 17,222 2025 Item Mexico Subgroup Brazil Subgroup Beyçelik Gestamp Kalip, A.S Subgroup Todlem Subgroup G. Auto Comp. (Tianjin) Co. Ltd./G. Auto Comp. Beijing Co. Ltd./G. New Energy vehicle C. Beijing Co. Ltd. Gestamp Automotive India Private Ltd. Operating activities 30,084 92,706 56,203 1,416 134,365 10,923 Investing activities (44,215) (23,029) (75,431) (6,703) (56,355) (10,644) Financing activities (142,072) (30,426) 8,107 16,726 (65,600) 5,393 Net increase (decrease) of cash or cash equivalents (156,203) 39,251 (11,121) 11,439 12,410 5,672 2024
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78 Note 20. Deferred income Deferred income includes grants related to assets obtained by Group subsidiaries, pending release to the Consolidated Income Statement. Movements in this heading at 31 December 2025 and 31 December 2024 were as follows: During the 2023 financial year, grants were received, mainly coming from public aid for Electric and Connected Vehicles received by Spanish companies, of which 28,556 thousand euros was voluntarily returned during the 2024 financial year, in order to opt for new grants of a higher amount. The grants received in 2024, amounting to 48,178 thousand euros, mainly came from PERTE second edition of the electric vehicle category (PERTE 2 VE) and first edition for decarbonisation. Furthermore, during the 2025 financial year, grants amounting to 10,821 thousand euros were returned, mainly corresponding to grants awarded to Spanish companies during 2024 under the PERTE for Electric Vehicles, for projects that were not carried out. The Group companies are able to meet all the requirements demanded by administrative resolutions regarding the awarding of grants to qualify as non-reimbursable grants. Note 21. Provisions and contingent liabilities The breakdown by item, at 31 December 2025 and 31 December 2024, was as follows: Provisions The breakdown of this heading during 2025 and 2024 was as follows: Thousands of euros Balance at December 31, 2023 94,936 Grants received during the financial year 48,178 Grants returned during the financial year (28,556) Grants released to income in the year (Note 26.b)) (8,266) Translation differences 37 Other movements (76) Balance at December 31, 2024 106,253 Grants received during the financial year 7,575 Grants returned during the financial year (10,821) Grants released to income in the year (Note 26.b)) (11,892) Translation differences (373) Other movements (48) Balance at December 31, 2025 90,694 31-12-2025 31-12-2024 31-12-2025 31-12-2024 31-12-2025 31-12-2024 Provisions 176,017 168,427 9,379 16,875 185,396 185,302 Uncertain tax position liabilities 1,403 1,403 — — 1,403 1,403 177,420 169,830 9,379 16,875 186,799 186,705 Non-current Thousands of euros Current Total
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79 The movements in this heading in 2025 and 2024 were as follows: Provision for employee compensation According to the commitments undertaken, the Group has legal, contractual and implicit obligations to staff of certain subsidiaries whose amount or maturity is uncertain. The provision for long term defined benefit plans is quantified considering the possible affected assets according to the registration and valuation standards. Changes in the consolidation scope in 2025 amounting to 2,050 thousand euros correspond to the business combination of the Industrias López Soriano subgroup. The changes in the scope of consolidation in the 2024 financial year amounting to 5 thousand euros correspond to the sale of the subsidiary Gestamp Togliatti, Llc (Note 2.b). The increases in both 2025 and 2024 relate mainly to employee remuneration such as length -of-service bonuses and other long-service benefits. Decreases in 2025 and 2024 mainly related to use of long-term employee provisions tied to the long-term incentive plan. Provision for other responsibilities This line item primarily reflects provisions recognised by certain Group companies to cover specific risks arising from their day-to-day businesses and provisions for personnel restructuring. Changes in the consolidation scope in 2025 amounting to 700 thousand euros also correspond to the business combination of the Industrias López Soriano subgroup. 31-12-2025 31-12-2024 31-12-2025 31-12-2024 31-12-2025 31-12-2024 Provision for employee compensation 94,333 87,820 168 201 94,501 88,021 Provision for other responsibilities 81,684 80,607 9,211 16,674 90,895 97,281 176,017 168,427 9,379 16,875 185,396 185,302 Current Thousands of euros TotalNon-current Provision for employee compensation Provision for other responsibilities Total Balance at December 31, 2023 91,089 107,879 198,968 Changes in consolidation scope (5) — (5) Increases 4,566 11,290 15,856 Decreases (6,779) (19,018) (25,797) Translation differences (462) (3,211) (3,673) Other movements (388) 341 (47) Balance at December 31, 2024 88,021 97,281 185,302 Changes in consolidation scope 2,050 700 2,750 Increases 6,401 17,022 23,423 Decreases (5,324) (16,056) (21,380) Translation differences (91) (4,146) (4,237) Other movements 3,444 (3,906) (462) Balance at December 31, 2025 94,501 90,895 185,396
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80 The increases in 2025 and 2024 relate mainly to provisions for other trade and litigation. The decreases in 2024 and 2025 relate mainly to hedges of risks arising from the companies' own activities and to other litigation. At 31 December 2022, given the situation of our plants in Russia, which had no industrial activity since February 2022, and with the ongoing uncertainty regarding operations in that country, as well as the fact that we are awaiting a position to be taken by our main customers, whom we have to support on a global basis, a provision of 20.0 million euros was made to cover potential risks arising from this ongoing situation. The Group's directors consider that provisions registered in the Consolidated Balance Sheet duly cover the risks for litigations, arbitration and other contingencies, and no additional related liabilities are expected. Liabilities from uncertain tax positions The movements in this heading during 2025 and 2024 are as follows: The Group basically books the estimated amount of tax debts related to tax assessments commenced by the tax authorities and currently appealed against before the courts and others whose exact amount or payment date is uncertain. At 31 December 2025 and 31 December 2024, the Group has no other significant contingent liabilities in addition to those included above. Liabilities from uncertain tax positions Balance at December 31, 2023 1,403 Increases — Decreases — Translation differences — Other movements — Balance at December 31, 2024 1,403 Increases — Decreases — Translation differences — Other movements — Balance at December 31, 2025 1,403
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81 Note 22. Provision for employee compensation The detail of the amounts recognised as provisions for remuneration to employees was as follows: a) Employee remuneration The amount recognised as remuneration to employees includes the amounts provisioned by certain Group companies for long -service bonuses and other benefits for remaining at the company (anniversaries, retirement, medals, etc.). b) Defined benefit plans The Group has defined benefit pension plans. The main pension plans relate to various companies located in Germany and France. These plans include plans partially financed by an investment fund and plans not financed through the fund. The risks associated with the different defined benefit plans are those inherent to the pension plans that are not financed by an external fund without recourse to the employer. Furthermore, other risks associated with defined benefit plans common both to the plans partially financed and to the unfinanced plans, are of a demographic nature, such as the mortality and longevity of the employees included in the plan, and those of a financial nature, such as pension increase rates based on inflation. The balance recognised at 31 December 2025 and 31 December 2024, corresponding to those plans, broken down by country, was as follows: Item 2025 2024 2025 2024 2025 2024 Employee benefits a) 22,409 11,499 168 201 22,577 11,700 Post-employment benefits Defined benefit plans b) 71,924 76,321 — — 71,924 76,321 Total (Note 21) 94,333 87,820 168 201 94,501 88,021 TotalNon-current Current Item Germany France Total Present value of the defined benefit obligation 66,941 9,955 76,896 Fair value of plan assets and reimbursement rights (4,772) (200) (4,972) Defined benefit plan liability recognized in the balance sheet as of 31 December 2025 62,169 9,755 71,924 Thousand of euros Item Germany France Total Present value of the defined benefit obligation 70,840 10,344 81,184 Fair value of plan assets and reimbursement rights (4,511) (352) (4,863) Defined benefit plan liability recognized in the balance sheet as of 31 December 2024 66,329 9,992 76,321 Thousand of euros
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82 The changes in the current value of the defined benefit liabilities are as follows: The changes in the fair value of the assets used in the plan are as follows: (**) The amount recognised as actuarial gains and losses at 31 December 2025, included as a reduction in the Statement of Changes in Equity, amounted to 4,338 thousand euros (4,230 thousand euros corresponding to the change in value of the defined benefit liabilities and 108 thousand euros corresponding to the change in value of the assets used in the plan). (*) The amount recognised as actuarial gains and losses at 31 December 2024, included as an increase in the Statement of Changes in Equity, amounted to -189 thousand euros ( 56 thousand euros corresponding to the change in value of the defined benefit liabilities and 133 thousand euros corresponding to the change in value of the assets used in the plan). The breakdown of the expense recognised in the Consolidated Income Statement, relating to these plans, is as follows: Germany France Total Present value of the defined benefit obligation at December 31, 2023 71,471 10,445 81,916 Cost of services for the 2024 financial year 1,555 615 2,170 Gains and losses arising from settlements — (169) (169) Interest expenses or (income) 2,149 342 2,491 Pension cost recognised in profit or loss for the 2024 financial year 3,704 788 4,492 Benefits paid except for plan settlement (2,368) (405) (2,773) Actuarial losses (gains) due to changes in financial assumptions (120) — (120) Remeasurements of the net defined benefit liability (56) — (56) (*) Effect of disposals — (89) (89) Other effects (1,911) (395) (2,306) Present value of the defined benefit obligation at December 31, 2024 70,840 10,344 81,184 Cost of services for the 2025 financial year 1,511 630 2,141 Interest expenses or (income) 2,182 314 2,496 Pension cost recognised in profit or loss for the 2025 financial year 3,693 944 4,637 Benefits paid except for plan settlement (3,197) (182) (3,379) Actuarial losses (gains) due to changes in financial assumptions (4,225) — (4,225) Remeasurements of the net defined benefit liability (4,230) — (4,230) (**) Effect of disposals — (220) (220) Other effects (165) (931) (1,096) Present value of the defined benefit obligation at December 31, 2025 66,941 9,955 76,896 Thousand of euros Germany France Total Fair value of plan assets and reimbursement rights at December 31, 2023 4,242 547 4,789 Interest income or expense 136 18 154 Pension cost recognised in profit or loss for the 2024 financial year 136 18 154 Benefits paid except for plan settlement — (227) (227) Actuarial (losses) gains due to changes in financial assumptions 133 — 133 Remeasurement of the net defined benefit liability 133 — 133 (*) Other effects — 14 14 Fair value of plan assets and reimbursement rights at December 31, 2024 4,511 352 4,863 Interest income or expense 153 12 165 Pension cost recognised in profit or loss for the 2025 financial year 153 12 165 Benefits paid except for plan settlement — (167) (167) Actuarial (losses) gains due to changes in financial assumptions 108 — 108 Remeasurement of the net defined benefit liability 108 — 108 (**) Other effects — 3 3 Fair value of plan assets and reimbursement rights at December 31, 2025 4,772 200 4,972 Thousand of euros
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83 The main asset categories used in the plan and their fair value are as follows: The main assumptions used to determine the defined benefit obligation are as follows: The sensitivity analyses of the value of the obligation for defined benefits faced with changes in the main assumptions at 31 December 2025 and 31 December 2024 are as follows: Item 2025 2024 2025 2024 2025 2024 Current services cost 1,511 1,555 632 615 2,143 2,170 Gains and losses arising from settlements — — (169) (169) (169) (169) Net interest on the net defined benefit liability (asset) 2,028 2,013 339 324 2,367 2,337 Net expense for defined benefit plans recognised in profit or loss 3,539 3,568 802 770 4,341 4,338 TotalFrance Thousand of euros Germany Item 2025 2024 2025 2024 Investments quoted in active markets Mixed investment funds in Europe 4,772 4,511 200 352 4,772 4,511 200 352 Thousand of euros FranceGermany Item 2025 2024 2025 2024 Discount rate 3.9%-4% 3.3%-3.4% 3.9% 3.3% Expected rate of return on any plan assets 3.9% 3.3% 3.3% 3.3% Future salary increases rate 3.0% 3.0% 3.8% 3.8% Future pension increases rate 2.0% 2.0% -% -% Inflation rate 2.0% 2.0% 2.0% 2.0% Mortality table RT 2018 G Dr. Klaus Heubeck RT 2018 G Dr. Klaus Heubeck INSEE F 2016- 2018 INSEE F 2016- 2018 Employee turnover rate, disability and early retirement Aon Hewitt Standard tables, RT 2018 G Dr. Klaus Heubeck, 63 Aon Hewitt Standard tables, RT 2018 G Dr. Klaus Heubeck, 63 1.5% 1.9% Proportion of plan participants entitled to the benefit 100.0% 100.0% — — Percentage of taxes payable by the plan on contributions relating to service before the reporting date or on benefits resulting from that service — — — FranceGermany
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84 The future expected payments for contributions to the defined benefit pensions plans at 31 December 2025 and 31 December 2024 are as follows: Note 23. Borrowed funds The breakdown of the Group's Borrowings as at 31 December 2025 and 31 December 2024, classified by concepts, is as follows: Hypothesis Sensitivity Increase Decrease Increase Decrease Discount rate Increase 0.5% 3,106 497 Decrease 0.5% 3,454 537 Future pension increases rate Increase 0.5% 1,547 — Decrease 0.5% 1,402 — Future salary increases rate Increase 0.5% 14 536 Decrease 0.5% 13 501 Mortality rate Decrease 1 year 857 — France 2025 Germany Hypothesis Sensitivity Increase Decrease Increase Decrease Discount rate Increase 0.5% 3,540 543 Decrease 0.5% 3,940 589 Future pension increases rate Increase 0.5% 1,798 — Decrease 0.5% 1,636 — Future salary increases rate Increase 0.5% 17 584 Decrease 0.5% 15 544 Mortality rate Decrease 1 year 959 — Germany 2024 France Germany France Total Germany France Total Less than 1 year 3,642 54 3,696 3,209 50 3,259 2 to 5 years 19,747 1,958 21,705 19,518 1,131 20,649 More than 5 years 40,120 31,543 71,663 40,768 31,134 71,902 Total 63,509 33,555 97,064 63,495 32,315 95,810 20242025 Thousand of euros
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85 The changes in liabilities related to financing activities, as shown in a) and c) and in derivative financial instruments in b) of the table above, are detailed as follows: a) Interest-bearing loans, borrowing and debt issues a.1) Non-current Bank borrowings and long-term debt securities The breakdown, by segment and maturity date, of non -current bank borrowings and debt securities is as follows: Item a) Interest-bearing loans, borrowings and debt issues a.1) 2,164,418 2,205,984 a.2) 404,618 521,172 b) Derivative financial instruments b.1) 37,477 43,505 b.1) 1,754 1,439 c) Other financial liabilities 452,413 464,766 141,970 287,941 Leases liabilities c.1) 402,544 395,182 c.1) 60,676 66,033 Borrowings from related parties c.2) 13,048 14,780 c.2) 2,718 3,154 Other borrowings c.3) 36,821 54,804 c.3) 78,576 218,754 d) Other liabilities d) 3,084 3,623 d) 191,936 237,481 Total 2,657,392 2,717,878 740,278 1,048,033 Non current 31-12-2025 31-12-202531-12-2024 Thousands of euros Current 31-12-2024 2024 Cash flow Effect of exchange rate variation Interest Changes in fair value Others 2025 Interest-bearing loans, borrowings and debt issues 2,727,156 (202,488) 27,306 17,064 — (2) 2,569,036 Payables on leases 461,215 34,811 (31,641) — — (1,165) 463,220 Borrowings from related parties 17,934 (1,902) — (266) — — 15,766 Other borrowings 273,558 (161,502) — — — 3,341 115,397 Gross Financial Debt (Note 4.6) 3,479,863 (331,081) (4,335) 16,798 — 2,174 3,163,419 Derivative financial instruments 44,944 — — — (5,713) — 39,231 TOTAL 3,524,807 (331,081) (4,335) 16,798 (5,713) 2,174 3,202,650 Thousand of euros 2023 Cash flow Effect of exchange rate variation Interest Changes in fair value Others 2024 Interest-bearing loans, borrowings and debt issues 2,569,833 176,628 (1,948) — (17,357) 2,727,156 Payables on leases 447,925 12,356 934 — — 461,215 Borrowings from related parties 18,931 (1,624) — — 627 17,934 Other borrowings 347,761 (90,295) — — 16,092 273,558 Gross Financial Debt (Note 4.6) 3,384,450 97,065 (1,014) — — (638) 3,479,863 Derivative financial instruments 63,330 — — (18,386) — 44,944 TOTAL 3,447,780 97,065 (1,014) — (18,386) (638) 3,524,807 Thousand of euros
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86 At 31 December 2025, the Group has bilateral credit lines maturing in more than 12 months with a limit of 138,939 thousand euros, which are drawn down by 1,7 45 thousand euros and recognised under this heading (97,200 thousand euros at 31 December 2024, which were drawn down by 26,349 thousand euros). The interest rate on these policies at 31 December 2025 ranged between 2.64% and 2.73%, while at 31 December 2024 it ranged between 4.27% and 5.57%. The detail of the maturities relating to the balances at 31 December 2024 is as follows: The breakdown, by segment and maturity date, of non-current bank borrowings and debt securities based on contractual cash flows is as follows: 2024 Description 2027 2028 2029 2030 Beyond Total Total In Euro 968,330 634,473 14,335 505,687 12,507 2,135,332 2,161,719 Western Europe 956,089 623,373 9,069 500,482 2,344 2,091,357 2,117,434 Eastern Europe 12,241 11,100 5,266 5,205 10,163 43,975 44,285 In foreign currency 813 26,047 2,226 — — 29,086 44,265 Brazilian real Mercosur — — — — — — 439 US Dollar Mercosur — — — — — — 9,549 Turkish lira — Eastern Europe 24 1,599 — — — 1,623 6,863 Remimbi yuan Asia — — 1,207 — — 1,207 1,323 Indian rupees Asia 449 — — — — 449 — Japanese Yen Asia 340 24,448 1,019 — — 25,807 26,091 Total 969,143 660,520 16,561 505,687 12,507 2,164,418 2,205,984 Thousands of euros 31-12-2025 2026 2027 2028 2029 Beyond Total 560,376 972,944 627,091 36,195 9,378 2,205,984 Thousands of euros 2024
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87 The detail of the maturities relating to the balances, at nominal value, at 31 December 2024, is as follows: The guarantees granted are personal guarantees of the borrower and were granted by a group of subsidiary companies (Appendix III). At 31 December 2025 and 31 December 2024, there were no items of property, plant, and equipment set aside to secure bank loans. In addition, there are security interests that are detailed in the description of the individual transactions included in this Note. The annual nominal interest rate on interest-bearing loans at 31 December 2025 is as follows: Interest rate • Loans denominated in euros: 3.00% - 4.90% • Loans denominated in Brazilian reals 4.61% - 17.00% • Loans denominated in Turkish lira 23.80% - 55% • Loans denominated in Japanese yen 0.20% - 2.72% 2024 Descripción 2027 2028 2029 2030 Beyond Total Total In Euro 987,802 652,603 32,222 506,801 12,507 2,191,935 2,265,974 Western Europe 974,023 640,304 25,798 500,482 2,344 2,142,951 2,217,158 Eastern Europe 13,779 12,299 6,424 6,319 10,163 48,984 48,816 In foreign currency 1,378 26,081 2,226 — — 29,685 45,475 Brazilian real Mercosur — — — — — — 439 Mexican Peso Mercosur — — — — — — — US dollar Western Europe — — — — — — — Mercosur — — — — — — 9,549 Turkish lira Eastern Europe (22) 1,599 — — — 1,577 6,863 Remimbi yuan Asia 28 28 1,207 — — 1,263 1,329 Indian rupees Asia 449 — — — — 449 — Japanese Yen Asia 923 24,454 1,019 — — 26,396 27,295 Total 989,180 678,684 34,448 506,801 12,507 2,221,620 2,311,449 Thousands of euros 31-12-2025 2026 2027 2028 2029 Beyond Total 626,251 1,006,795 631,058 37,626 9,719 2,311,449 2024 Thousand of euros
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88 The annual nominal interest rate on interest-bearing loans at 31 December 2024 is as follows: Interest rate • Loans denominated in euros: 4.47% - 5.88% • Loans denominated in Brazilian reals 8.53% - 12.45% • Loans denominated in Turkish lira 23.80% - 41% • Loans denominated in Chinese yuan 3.10% • Loans denominated in Japanese yen 0.20% - 2.53% The existing guarantees for the financial operations included in this section are detailed in section a.3) of this same note, except for the 2013 Syndicated Loan which, due to its uniqueness, is discussed later in a separate section. Syndicated loan 2023 On 8 May 2023, the Parent company signed a syndicated loan with a group of banks in the amount of 1,700 million euros, divided into a Tranche A (loan) in the amount of 1,200 million euros, which was fully drawn down on 22 May 2023 and is therefore fully disbursed at 31 December 2025; and a revolving credit facility in the amount of 500 million euros, which is not drawn down at 31 December 2025. The funds received from the drawdown of Tranche A were fully used for the early repayment of the Syndicated Loan 2013 as well as for the early repayment of several bilateral financing transactions. Tranche A has a term of five years, with 50% of the nominal amount maturing on 8 May 2027 and the remainder in a final maturity on 8 May 2028. The revolving credit facility has a final maturity on 8 May 2028. The Parent company must accomplish certain financial obligations related to Consolidated Financial Statements over the life of the loan. These obligations are as follows: ➢ The “Net debt/EBITDA” shall be below or equal to 3.75 ➢ The “EBITDA / Financial expense” shall be above 3.00 The calculation of these financial ratios is to be carried out exclusively on the basis of the quarterly Consolidated Financial Statements for each financial year. Failure to comply with these ratios would be grounds for early repayment of the loan at the request of the banking syndicate. A period of 20 working days exists to remedy the breach of these financial obligations. At 31 December 2025, the ratios were within the above limits. Thus, the EBITDA/Financial Expenses ratio at 31 December 2025 is 6.64, while the Net Financial Debt/EBITDA ratio is 1.40. Ratios must be calculated in accordance with the accounting rules in force at any given time. The failure to comply with these ratios is not expected in the short term. In addition, there is a limitation on the distribution of dividends, which may not exceed 50% of the consolidated profit for the year. The outstanding amount of this syndicated loan at 31 December 2025 is registered as long-term for 1,192 million euros. Certain Group companies, which together represent a significant portion of total consolidated assets, revenue and consolidated EBITDA, act as joint guarantors of this loan. The detail of these companies is provided in Appendix III.
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89 Also, a pledge was arranged on the shares of the subsidiaries Gestamp Metalbages, S.A., Gestamp Bizkaia, S.A., Gestamp Vigo, S.A. Gestamp Palencia, S.A., Gestamp Servicios, S.A. and Gestamp Toledo, S.A. As indicated in Note 37, on 8 January 2026, the amendment of this loan was formalized. Bond issue of April 2018 In April 2018, the Group completed an issuance of senior bonds guaranteed through the Parent Company for a total aggregate amount of 400 million euros with an annual coupon of 3.25% and an IRR of 3.375%. These bonds had an initial maturity of 30 April 2026 and interest payable semi -annually (in the months of April and October). In October 2025, the outstanding bonds were redeemed early. The interest Expense accrued as a result of the aforementioned early redemption amounted to 765 thousand euros as of 31 December 2025. Schuldschein Bond Issue October 2019 On 11 November 2019, the Parent Company completed an issue of "Schuldschein" bonds amounting to 176 million euros and 10 million US dollars. During 2020 and 2021, 39 and 54 million euros, respectively, were repaid early. The breakdown at 31 December 2024 of the various outstanding tranches is as follows: In October 2025, all outstanding tranches were also redeemed early. The interest expense accrued from this early redemption amounted to 55 thousand euros as of 31 December 2025. Bond Issue 2025 In October 2025, the Group completed the issuance of senior secured bonds through the Parent Company, with a total aggregate amount of 500 million euros, an annual coupon of 4.375% and a yield to maturity of 4.839%, which cannot be redeemed within the first 2 years without incurring penalties. These bonds mature on 6 October 2030, with interest payable semi-annually in April and October. The amortised cost of the issued bond as of 31 December 2025 amounts to 493 million euros, recorded as a long-term liability. Certain Group companies, which together represent a significant portion of total consolidated assets, revenue and consolidated EBITDA, act as joint guarantors of the bond. The detail of these companies is provided in Appendix III. Also, a pledge exists on the shares of the subsidiaries Gestamp Metalbages, S.A., Gestamp Bizkaia, S.A., Gestamp Vigo, S.A., Gestamp Palencia, S.A., Gestamp Servicios, S.A. and Gestamp Toledo, S.A. 58,000,000.00 Euro Oct 28, 2019 Euribor 6M+240bps Semi-annual Apr 28, 2026 25,000,000.00 Euro Nov 11, 2019 Euribor 6M+240bps Semi-annual Apr 28, 2026 Nominal Currency Issue date MaturityInterest PeriodInterest Rate
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90 a.2) Current interest-bearing loans and borrowings The breakdown by currency and segment of current interest-bearing loans and borrowings is as follows:
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91 The breakdown by currency and segment of current interest-bearing loans and borrowings based on contractual cash flows is as follows:
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92 The credit facilities reported in the table above relate to short -term credit facilities only. At 31 December 2025, the Group holds bilateral credit lines maturing in more than 12 months with a limit of 138,939 thousand euros, of which 1,745 thousand euros is drawn down and recorded in long -term liabilities (Note 23.a.1)) (97,200 thousand euros at 31 December 2024, of which 26,349 thousand euros was drawn down). The Group has total contracted capacity i n non-recourse factoring and commercial paper discounting facilities of 1,233 million euros at 31 December 2025 (31 December 2024: 1,367 million euros). The interest rate of the credit facilities is primarily linked to the Euribor floating interest rate plus a spread ranging from 0.7% to 2.00% in both 2025 and 2024.
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93 a.3) Guarantees on financial transactions Financial Entity Contract Signature DateContracting Company European Investment Bank 200 mill Euros 28/5/2027 Maturity DateAmount Limitation on distribution of dividends Outstanding amount at the date of the accompanying Consolidated Financial Statements Guarantor companies Certain Group companies, which together represent a significant portion of total consolidated assets, revenue and Consolidated EBITDA, act as joint guarantors of this loan. The detail of these companies is provided in Appendix III The dividend to be distributed in each year cannot exceed 50% of the consolidated profit for the year 200 million Euros recorded as long-term (200 million Euros at December 31, 2024) Parent Company 18/5/2020 N/A Certain Group companies, which together represent a significant portion of total consolidated assets, revenue and Consolidated EBITDA, act as joint guarantors of this loan. The detail of these companies is provided in Appendix III 9/7/2027100 mill Euros(*) N/A 100 million Euros recorded as long-term (100 million Euros at December 31, 2024) N/A 6 million Euros recorded as long-term and 6 million Euros recorded as short- term (9 million Euros recorded as long- term and 6 million Euros recorded as short-term at December 31, 2024) 50 mill Euros 30/4/2027 (*) Amount payable in 8 quarterly instalments of the same amount, with the first instalment paid in July 2020. Additionally, on January 21, 2022 and April 21, 2022, two additional drawdowns of 12.5 million euros each were made. Gestamp Nitra, S.r.o. 26/10/2017Slovenská Sporiteľňa, a. s. Instituto de Crédito Oficial, Entidad Pública Empresarial 9/7/2020Parent Company
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94 The contracting companies listed in the table above undertake to fulfil certain financial obligations during the term of the financial transaction and in relation to the Group's consolidated financial statements. These obligations are as follows: ➢ "EBITDA/Financial Expense" equal to or above 4.00. ➢ “Net Financial Debt/EBITDA” equal to or below 3.50 The calculation of these financial ratios is to be carried out exclusively on the basis of the quarterly Consolidated Financial Statements for each financial year. Failure to comply with these ratios would be grounds for early repayment of the loan at the request of the banking syndicate. A period of 20 working days exists to remedy the breach of these financial obligations. Both at 31 December 2025 and at 31 December 2024, these ratios were within the limits mentioned above, so the EBITDA / Financial expense ratio at 31 December 2025 was 7.17 (7.02 at 31 December 2024), while the Net Financial Debt/EBITDA ratio at 31 December 2025 was 1.14 (1.42 at 31 December 2024). These financial ratios must be calculated excluding the impact of changes in accounting regulations after 31 December 2018. The failure to comply with these ratios is not expected in the short term. b) Derivative financial instruments b.1) Interest rate derivatives and exchange rate derivatives These Consolidated Balance Sheet asset and liability headings include the fair value of the interest rate and exchange rate hedges and derivatives held for trading arranged by the Group, which are as follows:
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95 Interest rate derivatives The interest rate financial swaps, arranged by the Group, in place at 31 December 2025 and 31 December 2024 are as follows: At 31 December 2025 and 31 December 2024, the Group had implemented a strategy to hedge interest rate risk on the notional value of the Group’s estimated bank debt for the period from 2026 to 2029, through these financial interest rate swaps with the following notional amounts in thousands of euros: The interest rate financial swaps, arranged by the Group, in place at 31 December 2025, are subject to the following terms: Contract Item Asset Liability Asset Liability 1 Cash flow — 1,439 2 Cash flow — 288 3 Cash flow 10,736 12,918 4 Cash flow 7,695 9,261 5 Cash flow 6,915 8,325 6 Cash flow 6,935 8,348 7 Cash flow — 1,439 8 Cash flow 1,423 2,953 9 Cash flow 1,137 1,678 10 Cash flow 9,862 11,940 11 Cash flow 9,861 11,940 12 Cash flow 8,256 9,996 13 Cash flow 4,130 4,998 14 Cash flow 984 4,065 15 Cash flow 1,066 4,344 16 Cash flow 947 3,821 17 Cash flow 478 1,926 35,756 34,669 54,735 44,944 Thousands of euros 31-12-202431-12-2025 Total cash flow hedges 2025 140,000 100,000 90,000 90,000 190,000 60,000 (129,000) 2026 140,000 100,000 90,000 90,000 190,000 60,000 (129,000) 2027 140,000 100,000 90,000 90,000 190,000 60,000 (129,000) 2028 140,000 100,000 90,000 90,000 190,000 60,000 (129,000) 2029 140,000 100,000 90,000 90,000 190,000 — (129,000) 2025 (129,000) (108,000) (54,000) 369,000 369,000 308,000 154,000 2026 (129,000) (108,000) (54,000) 369,000 369,000 308,000 154,000 2027 (129,000) (108,000) (54,000) — — — — 2028 (129,000) (108,000) (54,000) — — — — 2029 (129,000) (108,000) (54,000) — — — — Contract 17Contract 16 Contract 9Contract 8 Contract 15Contract 14Contract 13Contract 12 Contract 6Contract 5Contract 4Contract 3Year Year Contract 10 Contract 11
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96 The hedging arrangements, outlined above, are qualified as effective hedges under IFRS hedge accounting criteria. Accordingly, changes in the fair value of the financial swaps are recognised in Equity while the accrued interest is recognised in the Consolidated Income Statement. The years in which the settlements of hedges are expected to affect the Consolidated Income Statement are as follows: At 31 December 2025, the Group transferred from Equity to the Consolidated Income Statement income of 11,788 thousand euros as a result of settlements carried out in the year in respect of interest rate hedging transactions. At 31 December 2024, the income recognised for this same item amounted to 46,574 thousand euros. At 31 December 2025 and 31 December 2024, there were no derivatives held for trading. Contract 3 May 16, 2029 3-month Euribor -0.033% Contract 4 May 16, 2029 3-month Euribor -0.041% Contract 5 May 15, 2029 3-month Euribor -0.040% Contract 6 May 15, 2029 3-month Euribor -0.046% Contract 8 Apr 30, 2029 3-month Euribor 2.520% Contract 9 Jan 31, 2028 3-month Euribor 3.050% Contract 10 May 18, 2029 3-month Euribor -0.039% Contract 11 May 18, 2029 3-month Euribor -0.039% Contract 12 May 18, 2029 3-month Euribor -0.039% Contract 13 May 18, 2029 3-month Euribor -0.039% Contract 14 May 29, 2026 3-month Euribor 1.374% Contract 15 May 29, 2026 3-month Euribor 1.320% Contract 16 May 29, 2026 3-month Euribor 1.275% Contract 17 May 29, 2026 3-month Euribor 1.268% Contract Maturity date Floating rate (to be received) Fixed rate (to be paid) 2026 1,972 2027 (1,075) 2028 (21) 2029 211 Total 1,087 31-12-2025 Thousands of euros (Expenses)/Incomes 2025 9,831 2026 1,830 2027 (1,101) 2028 (608) 2029 (161) Total 9,791 31-12-2024 Thousands of euros (Expenses)/Incomes
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97 In 2025, all hedging operations were efficient, accordingly, there was no impact on the Consolidated Income Statement. Exchange rate derivatives Certain Group companies follow the practice of hedging the exchange rate of the currency in which certain loans are denominated with exchange rate derivative contracts. Details of the exchange rate derivatives contracted by the Group outstanding at 31 December 2025 and 31 December 2024, in thousands of euros, are as follows:
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98 Nominal value Initial fair Balance at Accumulated Previous balance Deferred Balance at Company Hedged item of the loan 31-12-2025 31-12-2024 value Accrual 31-12-2025 31-12-2025 FY 2025 31-12-2025 Tax 31-12-2025 Gestamp Brasil, S.A. Bank of America loan in 07-2018 8,743 884 11,984 535 (457) 78 1,705 (13,768) 15,473 286 — 286 (Thousand of USD) (in 48 months) Closing exchange rate EUR/BRL 6.4585 6.3943 5.6595 6.4585 6.4585 -33.5722 6.4585 7 6.4585 6.4585 Amount in Euros 137 1,874 95 (71) 13 (51) (2,132) 2,081 44 — 44 Gestamp Automoción, S.A. Intragroup loan 1,000,000 (12,041) — (1,578) (1,578) — (1,578) 379 (1,199)(Thousand of Yuanes) Closing exchange rate EUR/CNY 8.2021 — 8.2021 8.2021 — 8.2021 8.2021 8.2021 Amount in Euros (1,468) — (192) (192) — (192) 46 (146) Gestamp Automoción, S.A. Mexico EBITDA FY2026 159,588 (336) — 336 336 — 336 (85) 251 (Thousand of Pesos) Closing exchange rate EUR/USD 1.1736 — 1.1736 1.1736 — 1.1736 1.1736 1.1736 Amount in Euros (286) — 286 286 — 286 (72) 214 Gescrap, S.L. Working capital 108 — — — — — — — Amount in Euros 108 — — — — — — — Total in thousands of euros (1,509) 1,874 95 (71) 13 43 (2,038) 2,081 138 (26) 112 (*) Negative amounts are CREDIT and positive amounts are DEBIT Fair value Derivative financial asset/liability Other current assets/liabilities Exchange difference Retained earnings on hedging transactions Previous years
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99 The balance of hedging transactions at 31 December 2025 and 31 December 2024 included in the Accumulated gains item of the Consolidated Balance Sheet has the following breakdown: The change of financial instruments in retained earnings in 2025 and 2024 is as follows: Fair value derivatives with changes in results Following the incorporation in May 2025 of the companies Gestamp Real Estate Bizkaia, S.L., Gestamp Real Estate Assets 1, S.L., Gestamp Real Estate Investment 2, S.L. and Gestamp Real Estate Management 3, S.L., on 9 September 2025 a capital increase was formalised through the subscription and payment of new preferred shares in each of those companies, subscribed by Andromeda Principal Investments, S.L.U., a real-estate investment entity led by Banco Santander, (see Note 2.b). In addition to the acquisition, an agreement was entered into with the minority shareholders under which they are granted a drag -along right. This right grants Andromeda Principal Investments, S.L.U. (investor) a drag-along right over the shares of the companies on the part of the other shareholders of these companies, which may be exercised in the event of liquidation due to insolvency or material breach by the Group, allowing the investor to force a sale to a third party that the Group would have to accept. This right is considered equivalent to a put option over the shares of the companies at a variable price and, if exercised, triggers the sale of 100% of the Partners’ shares to a third party, settled at market price, i.e. at the price offered by the buyer. The initial valuation of this right amounts to 4,295 thousand euros, recorded as a liability in the Group’s Consolidated Balance Sheet (Note 23.b). Similarly, under this agreement, a call option arises and is recognised as an asset in the balance sheet, under which, during the period in which the minority shareholders maintain their interest, Gestamp Automoción, S.A. has the right to acquire all of their interests. This option was initially measured at fair value at the transaction date at an amount of 8,177 thousand euros. Description 31-12-2025 31-12-2024 Interest rate derivatives 826 7,441 Exchange rate derivatives (112) (462) Total 714 6,979 Thousands of euros Thousands of euros 31,983 Variation in fair value adjustment (25,004) 8,980 (33,984) Interest rate derivatives (37,414) Exchange rate derivatives 3,430 6,979 Variation in fair value adjustment (6,265) 1,979 (8,244) Interest rate derivatives (8,704) Exchange rate derivatives 460 714 Adjustment due to change value 31-12-2023 Adjustment due to change value 31-12-2024 Adjustment due to change value 31-12-2025 Variation in derivative financial instruments (liabilities) Variation in deferred tax from financial instruments Variation in derivative financial instruments (liabilities) Variation in deferred tax from financial instruments
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100 At the end of 2025, the fair value of these ‘drag-along’ and ‘call’ options was reassessed, providing a value of 8,903 thousand euros for the ‘call’ option and 2,808 thousand euros for the ‘drag-along’ option. This fair value update generated a positive impact on the Group’s financial result of 2,212 thousand euros (Note 28). c) Other Financial Liabilities c.1) Payables on leases The lease commitments recognised under this heading relate to the present value of the leases. Details by type of asset, both short and long-term, at 31 December 2025 and 31 December 2024, are as follows: As of 31 December 2025, the amount of lease liabilities, both long -term and short -term, includes debt with related parties for this concept of 5,978 thousand euros and 2,897 thousand euros, respectively ( 1 thousands euros and 1,320 thousand euros, respectively, as of 31 December 2024) (Note 32.1). The detail of the maturities of the balance of this account as at 31 December 2024, is as follows: Lease commitments based on contractual cash flows under lease contracts, by type of asset, both short and long-term, at 31 December 2025 and 31 December 2024, are as follows: Type of asset Short term Between one and five years More than five years Total 31-12-2025 Total 31-12-2024 Stores 6,358 22,733 20,768 49,859 49,845 Machinery 11,900 25,678 3,085 40,663 62,614 Offices 5,963 18,185 4,058 28,206 26,880 Plants 28,638 105,014 172,232 305,884 272,885 Tooling 2,090 — — 2,090 6,992 Lands 1,517 6,413 16,024 23,954 24,655 Others 4,210 8,354 — 12,564 17,344 Total 60,676 186,377 216,167 463,220 461,215 Thousands of euros Short term Between one and five years More than five years Total 66,033 206,747 188,435 461,215 Thousands of euros 31-12-2024 Type of asset Short term Between one and five years More than five years Total 31-12-2025 Total 31-12-2024 Stores 9,077 30,606 40,439 80,122 82,303 Machinery 12,164 25,742 3,085 40,991 63,711 Offices 7,379 21,420 6,983 35,782 34,032 Plants 46,292 164,729 227,901 438,922 365,332 Tooling 2,140 — — 2,140 7,295 Lands 2,515 10,060 21,301 33,876 34,683 Others 4,640 8,756 — 13,396 18,853 Total 84,207 261,313 299,709 645,229 606,209 Thousands of euros
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101 The detail of the maturities of the balance of this account, at nominal value as at 31 December 2024, is as follows: c.2) Borrowings from related parties This heading in the Consolidated Balance Sheet includes the following items with related parties: At 31 December 2025 and 31 December 2024, the payable recognised under long -term fixed assets suppliers with Acek, Desarrollo y Gestión Industrial, S.L. corresponds to the purchase of the GESTAMP brand. The breakdown of expected maturities for long-term borrowings with related parties is as follows: The detail of the maturities of the balance of this account as at 31 December 2024, is as follows: c.3) Other borrowings Other non-current borrowings The amounts included under this heading, broken down by item and maturity at 31 December 2025 and 31 December 2024, are as follows: Short term Between one and five years More than five years Total 87,198 268,922 250,089 606,209 Thousands of euros 31-12-2024 Description 31-12-2025 31-12-2024 31-12-2025 31-12-2024 Fixed assets suppliers (Nota 32.1.) 13,048 14,780 1,869 2,039 Interest (Nota 32.1.) — — 849 1,115 Total 13,048 14,780 2,718 3,154 Long term Short term Description 2027 2028 2029 2030 Beyond Total 31-12-2025 Total 31-12-2024 Fixed assets suppliers 1,845 1,966 2,094 2,232 4,911 13,048 14,780 Western Europe 1,845 1,966 2,094 2,232 4,911 13,048 14,780 Thousands of euros 2026 2027 2028 2029 Beyond Total 1,731 1,845 1,966 2,094 7,144 14,780 Thousands of euros 31-12-2024
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102 The detail of these amounts corresponds to companies included in the Western Europe segment. The detail of the maturities of the balance of this account as at 31 December 2024, is as follows: Other current borrowings At 31 December 2024 and 31 December 2025, this heading exclusively included new transactions arranged at short-term to defer amounts with third parties as part of the Group's policy of protecting its liquidity and financial capacity, which entail an additional financial cost. d) Other borrowings Other non-current liabilities The breakdown of the amounts included under this heading by maturity and segment at 31 December 2025 and 31 December 2024 is as follows: The detail of the maturities relating to the balances at 31 December 2024 is as follows: Description 2027 2028 2029 2030 Beyond Total 31-12-2025 Total 31-12-2024 Loans from Ministry of Science and Technology 6,248 5,914 6,029 5,982 12,648 36,821 54,804 Thousands of euros 2026 2027 2028 2029 Beyond Total 5,585 8,313 10,163 12,587 18,156 54,804 Thousands of euros Total 31-12-2024 Description 2027 2028 2029 2030 Beyond Total 31-12-2025 Total 31-12-2024 Deposits received 283 26 — 11 423 743 437 Western Europe 283 26 — 11 423 743 437 Fixed assets suppliers 550 — — — — 550 818 Western Europe 550 — — — — 550 818 Other payables 722 69 85 135 780 1,791 2,368 Western Europe 722 69 85 135 — 1,011 1,512 Asia — — — — 780 780 856 Total 1,555 95 85 146 1,203 3,084 3,623 Thousands of euros
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103 Other current liabilities The breakdown of the balance of this item in the Consolidated Balance Sheet, by concepts, is as follows: On 14 January 2025, the interim dividend pending payment as of 31 December 2024, amounting to 27,488 thousand euros, was paid (Note 17.2). The dividends item mainly includes dividends pending payment by Jui Li Edscha Body System Co. Ltd., for an amount of 2,115 thousand euros (1,086 thousand euros as of 31 December 2023), as well as the dividend pending payment by Gestamp Automoción, S.A. for 29,084 thousand euros (Note 17.2). On 14 January 2026, the interim dividend pending payment as of 31 December 2024, amounting to 22,248 thousand euros, was paid (Note 17.4). 2026 2027 2028 2029 Beyond Total 1,073 948 619 — 983 3,623 31-12-2024 Thousands of euros Item 31-12-2025 31-12-2024 Fixed assets suppliers 123,682 190,588 Dividends (Note 32.1.) 34,723 29,612 Interim dividends 22,248 27,488 Dividends 12,475 2,124 Short-term payables 30,654 15,389 Deposits and guarantees 2,362 1,799 Others 515 93 Total 191,936 237,481 Thousands of euros
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104 Note 24. Deferred taxes The movement of deferred tax assets and liabilities is as follows: Deferred tax assets Tax credits Provisions Amortization criteria Diff. Unrealized non-deductible exchange Financial operations Commercial transactions IFRS 16 Development costs Other deferred taxes Total At December 31, 2023 207,133 88,745 27,978 6,111 68,651 44,948 8,287 77,265 43,028 572,146 Changes in scope of consolidation — (453) — (318) — — — — (61) (832) Increases 17,323 17,361 2,038 9,007 30,042 11,748 23,047 35,687 14,314 160,567 Decreases (25,811) (23,670) (1,167) (8,628) (24,869) (9,813) (22,558) (1,727) (14,283) (132,526) Translation differences 6,439 (2,403) (2,131) (1,175) 2,951 (2,325) 185 4,819 (1,054) 5,306 Other movements 18,006 13,602 (970) (96) (6,738) (5,111) 935 (31,127) (13,710) (25,209) At December 31, 2024 223,090 93,182 25,748 4,901 70,037 39,447 9,896 84,917 28,234 579,452 Changes in scope of consolidation — 6,512.00 — — — — — — — 6,512 Increases 11,258 19,320 8,193 12,261 11,854 20,692 21,974 13,422 2,740 121,714 Decreases (11,541) (19,170) (9,019) (9,285) (6,640) (9,744) (20,476) (3,186) (7,344) (96,405) Translation differences (14,285) (4,148) 559 235 (7,614) (2,671) (1,002) (10,309) (900) (40,135) Other movements 28,415 15,633 1,770 (1) (3,217) (8,396) 597 7,323 (1,217) 40,907 At December 31, 2025 236,937 111,329 27,251 8,111 64,420 39,328 10,989 92,167 21,513 612,045 Thousands of euros
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105 Deferred tax assets mainly consist of the following items: Tax credits: This item contains tax rebates and deductions, as well as the tax effect of tax loss carryforwards when there is reasonable assurance of their applicability in the future. Variations arise mainly from the increase in tax credits generated in Spain and the application of credits in the United States. Provisions: This item reflects the tax impact of provisions recognised by the Group that are not deductible until the liabilities are paid, affecting mainly the United States, Türkiye, Mexico, Spain and Russia. Financial operations: Certain finance costs deemed non -deductible based on legal limitations and the impact of the Parent Company’s hedges are the main item here. The balance at 31 December 2025 and 2024 arises mainly in the United States and Mexico. Commercial transactions: This item mainly consists of the tax impact of non -deductible expenses related to invoices to be received, temporary differences generated in the treatment of tooling advances and their costs at year-end 2024 in Mexico, Poland and Türkiye. Development expenses: This item shows temporary differences that arise from the depreciation of R&D costs generated mainly in the United States. Deferred tax liabilities mainly consist of the following items: Capitalisation of expenses: For the most part, these amounts are related to R&D transactions, mainly in the United States and Europe. Deferred tax liabilities Tax deduction - goodwill individual companies Capitalization of expenses Allocation to fixed assets FCC Revaluation of land and buildings Amortisation of assets Other Total At December 31, 2023 18,618 74,143 11,429 41,903 180,437 61,053 387,583 Changes in scope of consolidation — — — — (5) (173) (178) Increases 1,248 3,624 — 149 11,146 13,041 29,208 Decreases — (1,837) (1,845) (1,256) (22,053) (1,877) (28,868) Translation differences — (330) — (148) 5,461 9,137 14,120 Other movements — — (67) 1,442 (35,440) (15,292) (49,357) At December 31, 2024 19,866 75,600 9,517 42,090 139,546 65,889 352,508 Changes in scope of consolidation — — — — 34 — 34 Increases 531 2,323 — 101 10,402 8,580 21,937 Decreases — (2,032) (1,518) (602) (13,862) (3,945) (21,959) Translation differences — 161 — (8) (12,627) (14,264) (26,738) Other movements — 4,770 (2,146) 2,187 6,321 11,126 22,258 At December 31, 2025 20,397 80,822 5,853 43,768 129,814 67,386 348,040 Thousands of euros
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106 Amortisation of assets The tax impact of differing accounting and tax criteria governing amortisation of assets, mainly in the United States and France, is shown here. Revaluation of land and buildings This item mainly contains the tax effects of application of IFRS 1 (First-time Adoption of International Financial Reporting Standards). Other This item mainly reflects the tax effects of applying IFRS 15 (Revenue Recognition) and IAS 29 (Hyperinflation). The net translation differences generated in the 2025 and 2024 financial years amounted to -13,397 and - 8,814 thousand euros, respectively, and mainly correspond to the application of different exchange rates in each year, as well as the tax effect of the inflation adjustment of Argentine and Turkish companies amounting to 10,639 thousand euros (Note 29.). Finally, the changes in deferred tax assets and liabilities due to perimeter changes arose from the exit of Gestamp Togliatti LLC and Edscha Togliatti LLC in 2024. Note 25. Trade and other payables a) Trade payables The breakdown of the balance of this item in the Consolidated Balance Sheet, by concepts, is as follows: Trade payables do not bear interest and generally have payment terms of 60 days, including those included in the Group's supplier financing agreements. The Group has a supplier financing agreement in place that is offered to some of its key suppliers in Spain. Participation in the agreement is at the discretion of suppliers. Suppliers participating in the supplier financing agreement will receive early payment of invoices sent to the Group by the financial institution. If suppliers choose to receive payment in advance, they must pay a fee to the financial institution, of which the Group is not a party. For the financial institution to make payment of invoices, it is necessary that the goods have been received or supplied and that the Group has approved the invoices. The financial institution processes payments to suppliers before the invoice due date and, in all cases, the Group settles the original invoice by paying the financial institution according to the original invoice due date described above. 31-12-2025 31-12-2024 Trade accounts payable 1,604,713 1,735,699 Trade bills payable 281,130 298,430 Suppliers from related parties (Note 32.1.) 520,507 606,724 Total 2,406,350 2,640,853 Thousands of euros
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107 In the case of reverse factoring arrangements with post -financing, the Group settles the original invoice with the financial institution on the due date plus the agreed number of financing days for said post - financing, generally 60 to 90 days. The Group does not offer any guarantee to the financial institution. The detail of the debt with suppliers subject to financing agreements is as follows: Thousands of euros 31-12-2025 31-12-2024 Debt included in Trade bills payable 98,506 12,743 Of which suppliers have financed at that date - 4,762 Debt included in Other current financial liabilities 78,576 150,970 Of which suppliers have financed at that date 18,013 24,817 b) Current tax liabilities The balance of this item on the Consolidated Balance Sheet amounts to 23,839 thousand euros at 31 December 2025 (56,062 thousand euros at 31 December 2024) and includes the debt of the Parent Company and Group companies for Corporate Income Tax. c) Other payables The breakdown of the balance of this item in the Consolidated Balance Sheet, by concepts, is as follows: Note 26. Operating income a) Net turnover The breakdown of revenue by category at 31 December 2025 and 31 December 2024 is as follows: 31-12-2025 31-12-2024 VAT payable 81,034 64,628 Tax withholdings payable 34,104 40,261 Other items payable to the tax authorities 33,388 15,682 Payable to social security 44,163 47,696 Other payables 17,317 12,998 Outstanding remuneration 161,754 155,103 Total 371,760 336,368 Thousands of euros
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108 The geographical breakdown of consolidated revenue was as follows: b) Other operating income The Other operating income item in the Consolidated Income Statement presents the following detail: 31-12-2025 31-12-2024 Parts, prototypes and components 9,959,705 10,596,413 Tools 478,012 436,597 Sale of by-products and packaging 829,929 913,995 Services rendered 80,959 53,971 Total 11,348,605 12,000,976 Thousands of euros 31-12-2025 31-12-2024 4,393,864 4,617,797 Spain 1,692,220 1,797,840 Germany 1,269,027 1,195,002 United Kingdom 477,785 577,715 France 537,397 608,583 Portugal 310,613 311,443 Sweden 42,926 44,300 Morocco 63,896 82,914 1,983,358 1,936,733 Turkey 616,816 658,977 Czech Republic 343,996 330,455 Russia 17,717 7,030 Poland 415,727 432,018 Hungary 115,253 78,437 Slovakia 202,113 209,339 Romania 230,834 177,252 Bulgaria 38,705 41,471 Lithuania 2,197 1,754 796,510 944,026 Brazil 677,000 757,636 Argentina 119,510 186,390 2,330,990 2,499,024 USA 1,685,107 1,775,178 Mexico 645,883 723,846 1,843,883 2,003,396 China 1,440,288 1,627,958 India 245,465 212,601 South Korea 106,811 111,390 Japan 40,761 41,455 Thailand 10,347 9,819 Taiwan 211 173 11,348,605 12,000,976 Western Europe Thousands of euros Eastern Europe North America Asia Mercosur
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109 The item Other Operating Income as of 31 December 2025 and 2024 mainly includes billings to third parties for transactions unrelated to the companies’ core activities, as well as operating grants received during the financial year. The item Other Results mainly includes gains from disposals of fixed assets, results from settlements of EBITDA currency hedge derivatives, and customer compensation for project cancellations. Note 27. Operating expenses a) Raw materials and other consumables The Consumption item in the Consolidated Income Statement presents the following detail: (*) The total of these line items amounts to a net consumption of raw materials of (39,646) thousand euros (Note 13). b) Personnel expenses The Personnel expenses item in the Consolidated Income Statement presents the following detail: 31-12-2025 31-12-2024 Other operating income 69,840 75,734 Deferred income transferred to profit or loss (Note 20) 11,892 8,266 Excess provision for environmental actions and other liabilities 5,871 948 Own work capitalized 96,874 94,785 Other gains/losses 117,363 8,850 Gains/(losses) from disposals of intangible assets and PP&E — 6,596 Remainder 117,363 2,254 Total 301,840 188,583 Thousands of euros 31-12-2025 31-12-2024 Purchases of goods and tools 817,539 800,944 Discounts on early payment purchases (103) (182) Returns for purchases and similar transactions (3,283) (7,128) Volume discounts (8,355) (17,410) Change in inventories (*) 34,616 (51,386) Purchases of raw materials 4,032,510 4,502,017 Purchases of other supplies 1,821,279 1,902,444 Work carried out by other companies 321,908 382,720 Losses due to impairment of goods, raw materials (*) 47,813 25,020 Reversal of impairment of goods, raw materials (*) (28,783) (14,737) Total 7,035,141 7,522,302 Thousands of euros 31-12-2025 31-12-2024 Salaries 1,471,491 1,494,704 Social security 320,408 320,590 Other welfare expenses 132,750 140,068 Total 1,924,649 1,955,362 Thousands of euros
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110 The “Other social expenses” item includes amounts corresponding to defined contribution pension plan contributions amounting to 4,123 thousand euros as at 31 December 2025 (Note 6.15.). (4,175 thousand euros as of 31 December 2024). As indicated in Note 6.15., in May 2023 a long-term incentive plan was approved, structured in overlapping 3-year cycles, which includes the delivery of share -based incentives to certain employees and executives, linked to their permanence in the Group until its completion, as well as the achievement of certain objectives related to the Group's value creation during that period. Personnel expense accrued as of 31 December 2025 under this concept amounted to 4,809 thousand euros (7,880 thousand euros as of 31 December 2024), recorded as an increase in equity, specifically under Other Equity Instruments (Note 17). The breakdown, by professional category, of the average number of employees in 2025 and 2024 is as follows: The breakdown of the number of employees at year-end, classified by categories, as of 31 December 2025 and 2024 is as follows: c) Other operating expenses The “Other operating expenses” item in the Consolidated Income Statement presents the following detail: Professional category 31-12-2025 31-12-2024 Production workers 22,273 22,849 Maintenance 5,264 5,426 Logistic 5,515 5,815 Engineering 2,822 2,896 Quality 3,498 3,676 Administration, finance and IT 4,267 4,459 Total 43,639 45,121 Professional category Males Females Total Males Females Total Production workers 16,804 4,823 21,627 17,506 4,999 22,505 Maintenance 5,010 110 5,120 5,211 111 5,322 Logistic 4,641 738 5,379 4,987 742 5,729 Engineering 2,407 344 2,751 2,514 361 2,875 Quality 2,673 725 3,398 2,851 761 3,612 Administration, finance and IT 2,308 1,883 4,191 2,445 1,996 4,441 Total 33,843 8,623 42,466 35,514 8,970 44,484 31-12-202431-12-2025 31-12-2025 31-12-2024 Operation and maintenance 813,462 858,634 Other external services 471,545 527,527 Taxes 55,186 51,450 Impairment of accounts receivable 1,286 2,401 Other gains/losses 13,660 582 Losses and impairment of intangible assets and PP&E 10,104 — Increase/ application of provision for Contingencies and Expenses 3,556 582 Total 1,355,139 1,440,594 Thousands of euros
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111 The Operation and maintenance item includes lease expenses for contracts with a duration of less than one year, which are not significant, as well as software lease contracts that can be assimilated to service provisions, amounting to 104,360 thousand euros as of 31 December 2025 (88,964 thousand euros as of 31 December 2024). Note 28. Financial income and financial expenses a) Financial income The Financial income item in the Consolidated Income Statement presents the following detail: b) Financial expenses The Financial expenses item in the Consolidated Income Statement presents the following detail: The heading Lease financial expenses includes the amounts corresponding to interest on lease liabilities with related parties, which amounted to 418 thousand euros at 31 December 2025 (198 thousand euros at 31 December 2024) (Note 32.1). c) Exchange gains (losses) Exchange differences in the Consolidated Income Statement reflects the impact of exchange rate fluctuations, mainly in Türkiye, Mexico and China. d) Change in fair value of financial instruments During 2025, this item includes the fair value update of the ‘call’ and ‘drag -along’ options amounting to 2,212 thousand euros (Note 2.b). During 2024, several capital increases were carried out for Gestamp Baires, S.A. (a company 100% owned by the Group) through the transfer of public debt securities issued by the Argentine national state to the 31-12-2025 31-12-2024 Income from equity investments, Associated Companies 5 5 Income from current loans to third parties 103 — Other finance income 36,224 25,346 Total Income from loans to related parties (Note 32.1.) 226 279 Ingresos de créditos a largo plazo empresas asociadas 7 — Income from loans to related parties 219 279 Total 36,558 25,630 Thousands of euros 31-12-2025 31-12-2024 Interest on bank borrowings 133,873 137,608 Interest on discounted bills of exchange at financial institutions 2,246 2,495 Interest on trade factoring operations with financial institutions (Note 15.a)) 33,701 39,346 Other financial expenses 18,961 1,988 Leases financial expenses 25,747 28,575 Financial expenses on update provisions 322 495 Interest from receivables, related parties (Note 32.1.) 16,808 13,565 Total 231,658 223,577 Thousands of euros
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112 company, which were subsequently sold by Gestamp Baires, S.A. and Gestamp Córdoba, S.A., resulting in a profit of 7,176 thousand euros. e) Impairment and gain (loss) from disposal of financial instruments The breakdown of Impairment and gain (loss) from disposal of financial instruments of the Consolidated Income Statement is as follows: As at 31 December 2025, the “Others” item primarily included the loss following from the dissolution of Gestamp Auto Components Wuhan, co. Ltd. (See Note 2.b). Note 29. Income tax expenses The Parent Company and its subsidiaries file their income tax returns separately except: ➢ On 1 January 2014, the Parent Company opted for the application of the special tax consolidation regime regulated by Foral Law 11/2013 of 5 December on Corporate Income Tax. As of 1 January 2024, the subsidiaries included in this tax group are Gestamp Bizkaia, S.A., Gestamp Tooling Erandio, S.L., Gestamp North Europe Services, S.L., Loire S.A.F.E., Gestamp Global Tooling, S.L., Adral, Matricería y Puesta a Punto, S.L., Gestamp Tool Hardening, S.L., Gestamp Try Out Services, S.L., Gestamp Technology Institute, S.L., Autotech Engineering, S.L., Reparaciones Industriales Zaldibar, S.L., Diede Die Development, S.L., and Smart Industry Consulting and Technologies, S.L.U., Global Laser Araba, S.L., Gestión Global de Matricería, S.L., IxCxT, S.A.U. and Ingeniería y Construcción de Matrices, S.A.U. And Gestamp Real Estate Bizkaia, S.L.. ➢ The subsidiaries Gestamp North America, Inc., Gestamp Alabama, Llc., Gestamp Mason, Llc., Gestamp Chattanooga, Llc., Gestamp Chattanooga II Llc., Gestamp South Carolina, Llc., Gestamp West Virginia, Llc., Gestamp Washtenaw Llc. Gestamp Saint Clair, Llc and Gestamp Stanton, Llc file a tax return according to fiscal transparency system. ➢ The subsidiaries Edscha Automotive Michigan, Inc., Edscha North America Technologies, Llc and Gestamp Leasing USA, Llc are taxed for corporation tax purposes under the tax transparency regime. ➢ The subsidiaries Gestamp Griwe Haynrode GmbH and Gestamp Griwe Westerburg GmbH file a tax return according to a profit and loss transfer agreement. ➢ The subsidiaries Edscha Holding, GmbH, Edscha Automotive Hengersberg, GmbH, Edscha Automotive Hauzenberg, GmbH, Edscha Engineering, GmbH, Edscha Kunststofftechnik GmbH, Edscha Hengersberg Real Estate, GmbH & Co. KG, Edscha Hauzenberg Real Estate, GmbH & Co. KG and Edscha Mechatronics Solutions, GmbH are taxed for corporation tax purposes under a profit and loss transfer agreement. ➢ The subsidiaries GMF Holding, GmbH, Gestamp Umformtechnik, GmbH and Gestamp Wolfsburg, GmbH file a tax return according to a profit and loss transfer agreement. 31-12-2025 31-12-2024 Other 792 (2,071) Total 792 (2,071) Thousands of euros
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113 ➢ The subsidiaries Gestamp Sweden, AB and Gestamp HardTech AB file a tax return according to a profit and loss transfer agreement. ➢ The subsidiaries Automotive Chassis Products UK Ltd., Gestamp Tallent Ltd., and Autotech Engineering R&D UK Ltd. file a tax return in accordance with a profit and loss transfer agreement. ➢ The subsidiaries Gestamp Noury, S.A.S. and SCI Tournan, S.A. file a tax return according to a profit and loss transfer agreement. ➢ The subsidiaries Ges Recycling USA Llc. (parent), Ges Recycling South Carolina, Llc., Ges Recycling West Virginia Llc., Ges Recycling Alabama Llc., Ges Recycling Michigan, Llc. and Ges Recycling Tennessee, Llc. file their income tax returns under the tax transparency regime. ➢ Subsidiaries Sideacero, S.L. (head company), Gescrap Recycling Siglo XXI, S.L., Recuperaciones Medioambientales Industriales, S.L., Gescrap Servicios Portuarios, S.L., Gescrap Trading, S.L., Transportes Basegar, S.A., Reimasa Recycling, S.L., and Gescrap, S.L. are taxed under the special fiscal consolidation regime regulated by Norma Foral 11/2013 of 5 December, on Corporate Income Tax. ➢ Subsidiaries Industrias López Soriano, S.L. (head company), Cortes y Aplanaciones, S.A., ILSACER 2000, S.L.U., ILSSA Servicios de Mantenimiento, S.L.U., Industrias López División Transportes, S.A.U., Industrias Servicios Administrativos, S.L., Reciclaje Aragonés de Aparatos Eléctricos y Electrónicos, S.L.U., Recieder, S.L., Valorización del Automóvil, S.L.U., and Valorización, C.T., S.L.U., are taxed under the special fiscal consolidation regime for Corporate Income Tax. The detail of corporation tax income or expense at 31 December 2025 and 31 December 2024, in thousands of euros, is as follows: The reconciliation between the deferred tax income for the 2025 financial year and the 2024 financial year, as well as the net change in Deferred Tax Assets and Liabilities, is as follows: 31-12-2025 31-12-2024 Current tax 97,079 107,609 Deferred tax (31,065) (23,730) Other adjustments to tax expense (289) 1,129 Total Expense / (Income) 65,725 85,008 Thousands of euros
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114 The income tax expense, in thousands of euros, was obtained based on the accounting profit before tax, as indicated below: The theoretical tax rate applied is 24% in both the 2025 and 2024 financial years. In the 2025 financial year, the total income tax expense amounts to 65.7 million euros (85.0 million euros in 2024), which represents an effective tax rate of 21 %, while in the 2024 financial year it was 23 %. The Permanent Differences for the 2025 and 2024 financial years mainly include other taxable income, other non-deductible expenses, inflation adjustments, as well as certain tax incentives at the taxable base level. The Difference due to different rates and changes in tax estimates for the 2025 and 2024 financial years includes the effect of the difference in tax rates compared to the theoretical rate applied, which mainly correspond to Poland, Mexico and Brazil; as well as the effect of the reversal of tax credits accrued in previous years. The amounts resulting from the conversion to euros of the pending tax loss carryforwards and pending tax incentives as of 31 December 2025 and 2024, applying the closing exchange rates at those dates for amounts in currencies other than the euro, are detailed as follows: 2025 2024 2025 2024 Balance (Note 24) 612,045 579,452 348,040 352,508 Change in the year 32,593 7,306 (4,468) (35,075) Net change (Decrease/Increase in net deferred asset) 37,061 42,381 Translation differences (Note 24) 13,344 8,814 Changes in scope of consolidation (Note 3) (6,478) 653 Tax effect of hedges recorded against Equity (Note 23.b.1)) (26) (8,762) Grants related to assets — — Effect on tax expense of inflation adjustment for Argentine companies — — Effect on tax expense of inflation adjustment for Turkish companies — — Other changes (12,836) (19,356) Decrease/Increase in net deferred asset against profit for the year 31,065 23,730 Income /expense for deferred tax current year — (23,730) Deferred tax assets Thousands of euros Deferred tax liabilities 2025 2024 Accounting profit (before taxes) 313,112 369,656 Theoretical tax rate 75,147 88,717 Permanent differences 281 (12,935) Deductions and tax loss carryforwards applied, previously not recognized (23,611) (19,681) Tax credits and tax loss carryforwards generated in the current year not recorded 35,081 36,205 Difference due to different tax rates and changes in tax estimation (20,884) (8,427) Other adjustments (289) 1,129 Tax expense (income) 65,725 85,008 Thousands of euros
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115 Those unused tax losses and tax incentives that the Group considers to be recoverable based on the projections for the generation of future tax profits and the temporary limits and limits for the offset of these tax losses and tax incentives were capitalised at 31 December 2025 and 31 December 2024. The analysis of the recoverability of tax credits has been carried out based on estimates of future results for each of the companies. This recoverability ultimately depends on the ability of each company to generate taxable profits throughout the period in which the deferred tax assets are deductible. Therefore, the recoverability analysis has been prepared based on the time period of validity of these tax credits with a maximum of 10 years and using the current conditions for applying these tax credits, especially the limits on the application of tax loss carryforwards , where applicable, these assumptions are consistent with those used in the impairment test projections described in Notes 10 and 11. The pending tax loss carryforwards and pending tax incentives as of 31 December 2025 and 2024, whose tax credit has been recorded as an asset, have the following detail by expiration date: Accounted tax credit Un-Accounted tax credit Total Accounted tax credit Un-Accounted tax credit Total Negative tax bases pending offsetting 660 1,166 1,826 640 1,062 1,702 Tax credit 168 294 462 164 268 432 Unused tax incentives 69 230 299 59 219 278 Tax credit 69 230 299 59 219 278 Total Tax credit registered (Note 24) 237 223 2025 Millions of euros 2024
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116 The pending tax loss carryforwards and pending tax incentives as of 31 December 2025 and 2024, whose tax credit has been recorded as an asset, have the following detail by expiration date: Millions of euros Range of maturity Negative tax bases Tax incentives 2025-2030 103 5 2031-2036 7 4 2035 onwards 125 52 Without limit 425 8 Total 660 69 Millions of euros Range of maturity Negative tax bases Tax incentives 2024-2029 120 2 2030-2035 10 1 2035 onwards 91 50 Without limit 419 6 Total 640 59 2025 2024 Millions of euros Range of maturity Negative tax bases Tax incentives 2025-2030 215 12 2031-2036 138 8 2035 onwards 72 200 Without limit 741 10 Total 1,166 230 Millions of euros Range of maturity Negative tax bases Tax incentives 2024-2029 147 15 2030-2035 168 5 2035 onwards 41 184 Without limit 706 15 Total 1,062 219 2024 2025
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117 Most of the Group's companies are open for review of all applicable taxes and for the whole period applicable in each jurisdiction. For 2025, the Parent Company and subsidiaries calculated the corporation tax expense in accordance with the prevailing regulations in each jurisdiction. Due to possible interpretations of tax regulations, there could be differences in these calculations, but they are not susceptible to objective quantification. However, in the opinion of the Directors of the Parent Company and its subsidiaries, as well as their tax advisors, any tax liability that might arise therefrom should not materially affect the Consolidated Financial Statements. On 18 January 2024, the Spanish Constitutional Court declared unconstitutional and null and void various provisions of Royal Decree -Law 3/2016 of 2 December, adopting tax measures aimed at consolidating public finances and other urgent social measures ("RD -Law 3/2016"). This resolved the question of unconstitutionality raised by the National Court, following the line set regarding Royal Decree-Law 2/2016. Royal Decree -Law 3/2016 introduced important modifications in the Corporate Income Tax (CIT) area, including the following that have been analysed by the Constitutional Court: (i) the introduction of limits on the offsetting of negative tax bases and the application of deductions to avoid international double taxation and, (ii) the reversal in fifths of the impairment losses on shareholdings that had been considered deductible for Corporation Tax purposes between 2002 and 2013. This ruling only affected companies that are subject to the tax regulations of the common territory and under no circumstances does it affect companies under Basque or Navarre regional tax regulations. It is also important to note that, in line with the criterion set by the Spanish Constitutional Court in previous rulings, this ruling does not have full retroactive effect. After analysing the ruling, the Group considered that it would not have a significant impact on its financial statements. However, through Act 7/2024, of 20 December, which establishes a Complementary Tax to guarantee a minimum global level of taxation for multinational groups and large national groups, a Tax on the interest margin and commissions of certain financial entities and a Tax on liquids for electronic cigarettes and other tobacco-related products, and modifies other tax regulations ("Act 7/2024"), the aforementioned measures have been reintroduced into the legal -tax system, in this case, with effect for tax periods beginning on or after 1 January 2024 and that have not concluded upon the entry into force of Act 7/2024. In application of Act 7/2024, the Group has already calculated the income tax settlements of Spanish companies that are taxed under common territory regulations corresponding to the 2024 fiscal year, considering the application of such measures. Pillar 2 Legislation to implement BEPS 2.0 Pillar 2 has been enacted in certain jurisdictions in which the Group operates, while in the remaining jurisdictions where the Group has a presence it is either at a different stage of processing or will not apply. In Spain, this top-up tax was incorporated into domestic law by means of Act 7/2024, of 20 December, which establishes a Top -up Tax to ensure a global minimum level of taxation for multinational groups and large domestic groups, a Tax on the net interest margin and fees of certain financial institutions, and a Tax on liquids for electronic cigarettes and other tobacco -related products, and which amends other tax regulations (‘Act 7/2024’).
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118 Generally, Pillar 2 legislation is usually applicable from fiscal years beginning on or after 1 January 2024, and ensures that large multinational groups are taxed at a minimum effective rate of 15 percent wherever they operate. The Group falls within the scope of this new regulation as it is part of the consolidated group whose ultimate parent company is Acek Desarrollo y Gestión Industrial, S.L. For the closing of the 2024 financial year, a preliminary impact assessment was carried out based on the most recent tax returns, the available Country -by-Country Report and the interim financial statements of the entities forming part of the consolidated Group. On that basis, considering the application of the Safe Harbour rules and in accordance with the provisions of the Fourth Transitional Provision of Act 7/2024, only three countries (China, Morocco and Poland) were identified as jurisdictions in which the Top -up Tax would accrue, with the estimated accrued amount being immaterial. Based on the final closing data for the 2024 financial year, the calculation has been updated and it has been confirmed that the Safe Harbour rules are ultimately applicable to the jurisdictions of China and Poland and, therefore, no Top -up Tax impact arises in those jurisdictions, whereas in other jurisdictions such as Morocco the Top -up Tax would accrue, although the resulting impact has been confirmed to be immaterial. For the 2025 financial year, an assessment analogous to that carried out for the previous year has been performed and, based on the resulting estimate, it may again be concluded that the impact on the Consolidated Financial Statements is immaterial. The main reason for this is that, in the majority of the jurisdictions in which the Group operates (in principle, with the exception of certain jurisdictions such as Morocco), the Safe Harbour rules would be met. The Group applies the exception to the recognition of deferred tax assets and liabilities derived from the implementation of Act 7/2024, as provided in IAS 12. Breakdown of Gestamp Group’s current tax expense The current tax expense recognised in the consolidated financial statements for the 2025 financial year, in relation to jurisdictions that do not meet one or more of the Transitional Safe Harbour tests, is estimated to be immaterial (approximately 0.2 million euros in 2025 and 0.8 million euros in 2024). Acek Desarrollo y Gestión Industrial, S.L., as the ultimate parent company of the Group and in its capacity as substitute taxpayer, will require the entities subject to the rules established by Act 7/2024 to assume the tax burden arising from the Top -up Tax accrued, as applicable in each case, and to settle the corresponding tax obligations. Note 30. Earnings per share Basic earnings per share are calculated by dividing the profit for the year attributable to ordinary equity holders of the Parent Company by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share are also calculated by adjusting the profit attributable to ordinary equity holders of the Parent Company and the weighted average number of ordinary shares outstanding by all the dilutive effects inherent to potential ordinary shares.
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119 The basic and diluted earnings per share for the financial years ended 31 December 2025 and 2024 are as follows: The calculation of the weighted average number of ordinary shares as of 31 December 2025 has discounted the average treasury shares during the 2025 financial year, which amounted to 6,504 thousand shares (5,238 thousand shares during the 2024 financial year). Note 31. Commitments The Group is lessee of buildings, warehouses, machinery and vehicles. The information relating to lease contracts as at 31 December 2025 and 31 December 2024 is included in the corresponding notes depending on their nature (Note 11. And Note 23.c.1)). The commitments acquired by the different Group companies related to the purchase of fixed assets and tooling as at 31 December 2025 amount to 519 million euros (733 million euros as at 31 December 2024) and it is foreseeable that their execution will take place during the period 2025 to 2028. The Group has no guarantees granted to third parties. The amount of guarantees received by the Group from financial institutions and provided to third parties at 31 December 2025 amounts to 223 million euros (226 million euros at 31 December 2024). Note 32. Related-party transactions 32.1. Balances and transactions with Related Parties At 31 December 2025 and 31 December 2024, related-party transactions are as follows: Receivable balance: positive / Payable balance: negative 31-12-2025 31-12-2024 Profit attributable to the shareholders of the Parent Company (Thousands of euros) 152,207 188,490 — — Weighted average number of ordinary shares outstanding (Thousands of shares) 569,010 570,276 Basic earnings per share from continuing operations (Euros per share) 0.27 0.33 Basic earnings per share from discontinued operations (Euros per share) — — Diluted earnings per share from continuing operations (Euros per share) 0.27 0.33 Loss from discontinued activities attributable to the shareholders of the Parent company (Thousands of euros) 31-12-2025 31-12-2024 Debit / credit balances (428,312) (401,868) Income Revenue (701,399) (834,342) Services rendered (13,409) (14,976) Financial income (226) (279) Expenses Purchasing 1,957,482 2,142,156 Services received 26,538 31,623 Financial costs 16,808 13,565 Financial expenses for leasing 418 198 Thousands of euros
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120 The related parties in the following tables are subsidiaries and associates of the Acek, Desarrollo y Gestión Industrial Group in which the Parent Company does not directly or indirectly own any ownership interests. The sales included in the attached tables of related-party transactions correspond, fundamentally, to sales of components, while the most significant purchases correspond to the supply of steel, both as at 31 December 2025 and 31 December 2024. There are no purchase commitments with related parties that are not related to the Group ’s own production activity. The breakdown of receivables from and payables to related parties at 31 December 2025 is as follows: Related-party receivables and payables at 31 December 2024 are as follows: Company Thousands of euros Company Thousands of euros Acek Desarrollo y Gestión Industrial, S.L. 584 Equity-method companies 675 Gestamp 2020 (4) Acek Solar subgroup 8 CIE Automotive group 24 Total Interest receivable 683 Equity-method companies 124,302 Acek Desarrollo y Gestión Industrial, S.L. (727) Gonvarri subgroup 20,498 CIE Automotive group (79) Other shareholders (1) Gonvarri subgroup (36) Others 15 Other shareholders (7) Total Trade receivables from related parties (Note 15.a)) 145,418 Total interest payable (Note 23.c.2)) (849) Equity-method companies 5,006 Acek Desarrollo y Gestión Industrial, S.L. (1,731) Total Current Loans (Note 12.b.1)) 5,006 Global Dominion Access group (131) Equity-method companies 32 Mitsui & Co., Ltd. (5) Acek Solar subgroup 108 Others (2) Total Non-current Loans 140 Total short-term asset suppliers (Note 23.c.2)) (1,869) Equity-method companies 352 Acek Desarrollo y Gestión Industrial, S.L. (13,048) Other shareholders (110) Total long-term asset suppliers (Note 23.c.2)) (13,048) Total Current account 242 Acek Desarrollo y Gestión Industrial, S.L. (1,116) Gonvarri subgroup (2,897) CIE Automotive group (1,938) Total Current leases (Note 23.c.1)) (2,897) GAM group (1,228) Gonvarri subgroup (5,978) Global Dominion Access group 149 Total Non-current leases (Note 23.c.1)) (5,978) Mitsui & Co., Ltd. (230) GAM group 1 Equity-method companies (123) Gonvarri subgroup 69 Gonvarri subgroup (514,068) Total Debtors, related parties ( Note 15.b)) 70 Inmobiliaria Acek subgroup (106) Acek Desarrollo y Gestión Industrial, S.L. (22,249) Other shareholders (91) Andromeda Principal Investments, S.L.U. (9,374) Others (1,756) Other shareholders (3,100) Total Suppliers, related parties (Note 25.a)) (520,507) Total Dividends payable (Note 23.d)) (34,723) Total debit/credit balances (428,312) 31-12-2025
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121 The breakdown of related-party transactions at 31 December 2025 was as follows: Company Thousands of euros Company Thousands of euros Acek Desarrollo y Gestión Industrial, S.L. 945 Equity-method companies 456 CIE Automotive group 218 Total Interest receivable 456 Telefónica group 124 Acek Desarrollo y Gestión Industrial, S.L. (807) Equity-method companies 134,999 CIE Automotive group (59) Gonvarri subgroup 112,873 Gonvarri subgroup (245) Kishoa subgroup 6 Other shareholders (4) Other shareholders 11 Total interest payable (Note 23.c.2)) (1,115) Others 39 Acek Desarrollo y Gestión Industrial, S.L. (1,625) Total Trade receivables from related parties (Note 15.a)) 249,215 Global Dominion Access group (408) Equity-method companies 5,006 Telefónica group (6) Total Current Loans (Note 12.b.1)) 5,006 Total short-term asset suppliers (Note 23.c.2)) (2,039) Equity-method companies 32 Acek Desarrollo y Gestión Industrial, S.L. (14,780) Total Non-current Loans 32 Total long-term asset suppliers (Note 23.c.2)) (14,780) Equity-method companies 352 Acek Desarrollo y Gestión Industrial, S.L. (2,178) Other shareholders (110) Gestamp 2020 (4) Total Current account 242 CIE Automotive group (2,551) Gonvarri subgroup (1,296) GAM group (1,500) Total Current leases (Note 23.c.1)) (1,296) Global Dominion Access group (224) Gonvarri subgroup (1,320) Telefónica group (598) Total Non-current leases (Note 23.c.1)) (1,320) Mitsui & Co., Ltd. (341) GAM group 1 Equity-method companies (2,250) Gonvarri subgroup 66 Gonvarri subgroup (595,331) Total Debtors, related parties ( Note 15.b)) 67 Inmobiliaria Acek subgroup (251) Acek Desarrollo y Gestión Industrial, S.L. (6,846) Kishoa subgroup (449) Free Float (6,701) Other shareholders (45) Gestamp 2020 (13,941) Others (1,002) Other shareholders (2,124) Total Suppliers, related parties (Note 25.a)) (606,724) Total Dividends payable (Note 23.d)) (29,612) Total debit/credit balances (401,868) 31-12-2024 Company Thousands of euros Company Thousands of euros CIE Automotive group 53,672 Acek Desarrollo y Gestión Industrial, S.L. 4,671 Mitsui & Co., Ltd. 5 GAM group 3,432 Equity-method companies 78,649 Global Dominion Access group 189 Gonvarri subgroup 1,825,156 Telefónica group 480 Total Purchases 1,957,482 Mitsui & Co., Ltd. 1,073 Acek Desarrollo y Gestión Industrial, S.L. 995 Equity-method companies 3,069 Gonvarri subgroup 15,810 Gonvarri subgroup 7,414 Other shareholders 3 Inmobiliaria Acek subgroup 1,107 Total Financial expenses (Note 28.b)) 16,808 Kishoa subgroup 1,330 Gonvarri subgroup 418 Other shareholders 463 Total Leases financial expenses (Note 28.b)) 418 Others 3,310 Equity-method companies (219) Total Services received 26,538 Acek Solar subgroup (7) CIE Automotive group (185) Total Financial income (Note 28.a)) (226) Equity-method companies (469,709) Acek Desarrollo y Gestión Industrial, S.L. (517) Gonvarri subgroup (231,505) CIE Automotive group (301) Total Sales (701,399) GAM group (4) Equity-method companies (1,219) Gonvarri subgroup (11,294) Inmobiliaria Acek subgroup (2) Kishoa subgroup (30) Other shareholders (15) Others (27) Total Services rendered (13,409) 31-12-2025
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122 The breakdown of related-party transactions at 31 December 2024 was as follows: 32.2. Board of Director´s Remuneration Gestamp Automoción, S.A. has received 330 thousand euros in the 2025 financial year and 330 thousand euros in the 2024 financial year, for all remuneration concepts as a member of the Board of Directors of certain subsidiary companies of the Group. The breakdown of the amount of total remuneration received by the members of the Board of Directors of the Parent Company is as follows: Company Thousands of euros Company Thousands of euros CIE Automotive group 63,113 Acek Desarrollo y Gestión Industrial, S.L. 8,665 Telefónica group 34 CIE Automotive group 359 Mitsui & Co., Ltd. 1 GAM group 1,058 Equity-method companies 60,877 Global Dominion Access group 9 Gonvarri subgroup 2,018,129 Telefónica group 2,763 Others 2 Mitsui & Co., Ltd. 354 Total Purchases 2,142,156 Equity-method companies 2,478 Acek Desarrollo y Gestión Industrial, S.L. 1,100 Gonvarri subgroup 10,290 Gonvarri subgroup 12,460 Inmobiliaria Acek subgroup 1,156 Other shareholders 5 Kishoa subgroup 105 Total Financial expenses (Note 28.b)) 13,565 Other shareholders 521 Gonvarri subgroup 198 Others 3,865 Total Leases financial expenses (Note 28.b)) 198 Total Services received 31,623 Equity-method companies (279) CIE Automotive group (206) Total Financial income (Note 28.a)) (279) Equity-method companies (579,655) Acek Desarrollo y Gestión Industrial, S.L. (811) Gonvarri subgroup (254,481) Gestamp 2020 (1) Total Sales (834,342) CIE Automotive group (649) GAM group (4) Equity-method companies (1,215) Gonvarri subgroup (12,185) Kishoa subgroup (8) Other shareholders (40) Others (63) Total Services rendered (14,976) 31-12-2024
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123 32.3. Senior Management's Remuneration The total remuneration accrued, for all concepts, in favour of the members of the Management Committee excluding the Executive Directors, amounted in the 2025 financial year to 5,891 thousand euros (in the 2024 financial year to 6,631 thousand euros), which are recorded under the ‘Personnel expenses’ heading of the attached Consolidated Income Statement. The amount corresponding to the 2025 and 2024 financial years includes life insurance premiums amounting to 32 thousand euros and 34 thousand euros, respectively. The amount of loans granted to members of the Management Committee as of 31 December 2024, excluding those who are members of the Board of Directors and are already included in Note 32.2., amounts to 1,718 thousand euros including principal plus outstanding interest, and were granted in the 2016 financial year for the purchase of shares of the Parent Company from ACEK Desarrollo y Gestión Industrial, S.L. (Note 12.a.2)). Note 33. Other disclosures 33.1. Auditors' fees The fees accrued during the 2025 and 2024 financial years by the auditors are as follows: Thousands of euros Non-Executive Directors 2025 Year Mr. Alberto Rodríguez Fraile 130.00 Mrs. Ana García Fau 115.00 Mr. César Cernuda 130.00 Mr. Pedro Sainz de Baranda 110.00 Mr. Javier Rodríguez Pellitero 125.00 Mrs. Concepción Rivero Bermejo 110.00 Mr. Juan María Riberas Mera 110.00 Mr. Gonzalo Urquijo Fernández de Araoz 38.81 Mr. Norimichi Hatayama 0.00 Mrs. Chisato Eiki 110.00 Mrs. Loreto Ordoñez 110.00 Mr. Makoto Takasugi 90.00 Mr. Francisco López Peña 0.00 TOTAL 1,178.81 Executive Directors Mr. Francisco José Riberas Mera 1,213.30 Mrs. Patricia Riberas López 378.21 TOTAL 1,591.51 (From January 1, 2025 to December 31, 2025)
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124 Services other than auditing of accounts relate mainly to collaboration in tax matters and due diligence in company acquisitions. 33.2. Environmental matters and climate risk The total investments in systems, equipment and facilities related to environmental protection and improvement amount to a gross value of 7,320 thousand euros at the end of the 2025 financial year, with accumulated depreciation of 4,223 thousand euros, while at the end of the 2024 financial year these investments amounted to 7,230 thousand euros and accumulated depreciation to 4,081 thousand euros. Environmental protection and improvement expenses incurred in 2025 amounted to 3,618 thousand euros, while in 2024, they amounted to 2,643 thousand euros. The attached Consolidated Balance Sheet does not include any provision for environmental risks, as the Directors of the Parent Company consider that there are no obligations to be settled in the future at the end of the financial year, arising from actions of the companies that make up the Group to prevent, reduce or repair damage to the environment, or that, if they exist, these would not be significant. Likewise, at the end of the financial year, no environmental subsidies have been received. In 2020, Gestamp announced emission reduction targets for 2030 validated by SBTi: reduction of 30% of scope 1 and 2 emissions and reduction of 22% of scope 3 emissions (base year 2018). Due to regulatory changes and customer requirements in 2022, Gestamp decided to increase the level of ambition regarding the reduction of scope 1 and 2 emissions in its ESG Plan 2023 -2025, setting as goals to reduce scope 1 and 2 emissions by 45%, and ensure that 62% of the electricity consumed comes from renewable sources. Gestamp Group's Climate Neutrality Objectives: • Will be neutral in scope 2 by 2030. • Will be neutral in scope 1 and scope 2 by 2045. • It will be neutral in scope 1, 2 and 3 by 2050 globally. During 2025, the Group has continued working on its strategy to combat Climate Change aligned with regulatory requirements such as the European climate neutrality objective for 2050 and the emission reduction objectives of its customers, among others. In addition, Gestamp has established different measures to ensure compliance with these commitments. This information is provided in the Sustainability Statement that makes up the Group's 2025 Management Report. On the other hand, the Group has climate ‑risk assessment studies for each of the geographic areas in which its production plants operate, and insurance coverage is taken out for potentially harmful climate‑related events. During the contracting and renewal process of these insurance policies, the protection measures implemented at the plants against such events are verified. Services provided by the auditor and related companies Services Provided by Other Audit Firms Total Services provided by the auditor and related companies Services Provided by Other Audit Firms Total Audit services 4,012 645 4,657 4,424 531 4,955 Other services related with the audit of the accounts 458 — 458 986 — 986 Other Services 281 — 281 1,498 — 1,498 Total fees 4,751 645 5,396 6,908 531 7,439 Thousands of euros 20242025
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125 The useful life of tangible fixed assets will not be affected by this commitment as early replacement is not anticipated, as they can generally be powered by electricity from renewable sources. In this sense, the Group is already increasing its commitment to purchase renewable energy. No new indications of impairment have been detected as a result of the commitment acquired, taking into account the Group's operational expectations. Reasonably possible changes in the commitment to reduce absolute emissions would not have a significant impact on the estimates of the value in use of the CGUs subject to the impairment test detailed in Notes 5. and 6. Inventories, both of raw materials and finished products, have very little turnover due to "just in time" production models, which limits their impairment due to foreseeable changes in the type of vehicle of end customers. In addition, the group's business lines, Body-in-White, Chassis and mechanisms, do not have to be adapted to the type of energy used by the vehicle. At the time these financial statements are being prepared, the Group does not have an implicit or contractual obligation that would give rise to an environmental provision. Note 34. Financial risk management The Group uses the review of business plans, the study of the relationship between exposure and the present value of the cash flows arising from an investment, and the accounting vision that allows the assessment of the state and development of the different risk situations for financial risk management. 34.1. Financial risk factors In compliance with prevailing legislation, below is a description of the main financial risks to which the Group is exposed: ➢ Market risk o Exchange rate risk o Interest rate fluctuation risk ➢ Liquidity risk ➢ Credit risk ➢ Commodity price risk Exchange rate risk The exchange rate risk mainly arises from: (i) the Group's international diversification, which leads it to invest and obtain income, results and cash flows in currencies other than the euro, (ii) payables in currencies other than those of the countries in which the companies are located that have taken the debt and (iii) accounts receivable or payable in foreign currency from the standpoint of the company recognising the transaction. The fluctuation in the exchange rate of the currency in which a given transaction is carried out against the accounting currency may have a negative or positive impact on profit or loss and equity. The Group operates in the following currencies: Euro US dollar Mexican peso Argentine peso Brazilian real Pound sterling Swedish crown Polish zloty Hungarian forint
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126 Turkish lira Indian rupee Korean won Chinese yuan Russian rouble Czech crown Japanese yen Thai Baht Romanian leu Taiwanese dollar Moroccan dirham Bulgarian lev To manage exchange rate risk, the Group uses (or evaluates the possibility of using) a series of financial instruments, basically (Note 23.b.1))): 1. Forward currency purchase/sale: These arrangements lock in the price at which an entity can buy or sell a currency on a set date; the timing can be adjusted to align the transactions with the hedged cash flows. 2. Cross Currency Swaps: arrangements between two parties to exchange cash flows in different currencies. In this type of arrangement, the parties agree to exchange capital and interest in different currencies during a certain period of time. The nominal amounts of both currencies are generally exchanged at the start of the contract and interest payments are subsequently made and received regularly based on those amounts and on a fixed or floating interest rate. At the end of the contract, the nominal amounts are exchanged again. These instruments are often used to manage the currency risk and to hedge funding received in a currency other than the functional currency. 3. Options: The objective is to seek to protect against the negative impact of any exchange rate exposure, or any price ranges, or to fix a maximum or minimum exchange rate (collar or tunnel) on the date of settlement, or structures with a minimum cost or even zero (by renouncing benefits in different scenarios in exchange for achieving protection in other scenarios). On the other hand, in part of the sales contracts in some countries, prices are partially adjusted according to the exchange rate, with different formulas, which offers some protection against devaluations. The Group maintains debt in foreign currencies to reduce the sensitivity of the Net Financial Debt/EBITDA ratio to exchange rate fluctuations, and to partially offset possible asset value losses due to exchange rate fluctuations, with savings in the value of liabilities. Below is the sensitivity of the result and equity to the variation of the exchange rates of the currencies in which the Group operates with respect to the euro, in thousands of euros. The sensitivity of the result to the variation of the exchange rates of the currencies corresponding to the 2025 and 2024 financial years is as follows:
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127 Currency 5% Variation -5% Variation Swedish crown (191) 191 US dollar (3,781) 3,781 Hungarian forint (232) 232 GB pound (1,179) 1,179 Mexican peso (101) 101 Brazilian real 1,990 (1,990) Chinese yuan 3,297 (3,297) Indian rupee 142 (142) Turkish lira 922 (922) Argentine peso (172) 172 Russian ruble 212 (212) Korean won (27) 27 Polish zloty 1,871 (1,871) Czech crown 228 (228) Japanese yen (187) 187 Thai baht 18 (18) Romanian leu 147 (147) Moroccan dirham 135 (135) Taiwanese dollar 5 (5) Bulgarian Lev 142 (142) EFFECT IN ABSOLUTE VALUES 3,239 (3,239) PROFIT ATTRIBUTABLE TO THE PARENT COMPANY 152,207 152,207 EFFECT IN RELATIVE VALUES 2.13% -2.13% 2025 EFFECT ON PROFIT OR LOSS Thoudand Euros
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128 The sensitivity of equity to the variation of exchange rates of currencies for the 2025 and 2024 financial years is as follows: Currency 5% Variation -5% Variation Swedish crown 2,414 (2,414) US dollar (6,142) 6,142 Hungarian forint (512) 512 GB pound 30 (30) Mexican peso (3) 3 Brazilian real 1,622 (1,622) Chinese yuan 3,301 (3,301) Indian rupee 96 (96) Turkish lira 1,997 (1,997) Argentine peso (1,137) 1,137 Russian ruble 430 (430) Korean won 109 (109) Polish zloty 1,695 (1,695) Czech crown (233) 233 Japanese yen (126) 126 Thai baht 23 (23) Romanian leu 195 (195) Moroccan dirham 304 (304) Taiwanese dollar (1) 1 Bulgarian Lev (44) 44 EFFECT IN ABSOLUTE VALUES 4,018 (4,018) PROFIT ATTRIBUTABLE TO THE PARENT COMPANY 188,490 188,490 EFFECT IN RELATIVE VALUES 2.13% -2.13% EFFECT ON PROFIT OR LOSS Thousand Euros 2024
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129 The foregoing amounts were calculated by increasing or decreasing by 5% the exchange rates applied to convert to euros both the income statements of the subsidiaries and their equity. 2025 Currency 5% Variation -5% Variation Swedish crown (49,861) 49,861 US dollar (31,514) 31,514 Hungarian forint (4,800) 4,800 GB pound 1,418 (1,418) Mexican peso 5,331 (5,331) Brazilian real 3,982 (3,982) Chinese yuan 33,052 (33,052) Indian rupee 1,863 (1,863) Turkish lira 9,497 (9,497) Argentine peso (5,322) 5,322 Russian ruble (5,211) 5,211 Korean won 3,150 (3,150) Polish zloty 13,281 (13,281) Czech crown (1,855) 1,855 Japanese yen (1,808) 1,808 Thai baht 88 (88) Romanian leu 1,094 (1,094) Moroccan dirham 650 (650) Taiwanese dollar (188) 188 Bulgarian Lev 796 (796) EFFECT IN ABSOLUTE VALUES (26,357) 26,357 EQUITY 3,122,441 3,122,441 IMPACT IN RELATIVE VALUES -0.84% 0.84% EFFECT ON EQUITY Thousand Euros 2024 Currency 5% Variation -5% Variation Swedish crown (49,765) 49,765 US dollar (20,844) 20,844 Hungarian forint (4,626) 4,626 GB pound 3,294 (3,294) Mexican peso 4,594 (4,594) Brazilian real 3,394 (3,394) Chinese yuan 34,333 (34,333) Indian rupee 3,428 (3,428) Turkish lira 8,586 (8,586) Argentine peso (4,400) 4,400 Russian ruble (6,290) 6,290 Korean won 3,642 (3,642) Polish zloty 11,308 (11,308) Czech crown (2,205) 2,205 Japanese yen (1,476) 1,476 Thai baht 102 (102) Romanian leu 830 (830) Moroccan dirham 533 (533) Taiwanese dollar (197) 197 Bulgarian Lev 581 (581) EFFECT IN ABSOLUTE VALUES (15,178) 15,178 EQUITY 3,009,592 3,009,592 IMPACT IN RELATIVE VALUES -0.50% 0.50% EFFECT ON EQUITY Thousand Euros
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130 Furthermore, in the 2025 financial year, Consolidated Equity has additionally decreased by -229.5 million euros due to changes in translation differences, mainly as a result of investments outside the Euro zone (in the 2024 financial year, consolidated equity was increased by 39.2 million euros). Interest rate fluctuation risk The Group’s borrowings mainly bear interest at floating rates, exposing it to risk from fluctuations in market interest rates, so that index fluctuations affect cash flows and how they are reflected in the Financial expenses. The Group mitigates this risk by using interest rate derivative financial instruments, mainly swaps, by which it converts the floating rate on a loan into a fixed rate. It may swap the rate on a portion of the loan or on the entire loan, and for its entire duration or a part thereof (Note 23.b.1)). The Group’s borrowings accrue a floating rate indexed to the Euribor, Dollar Libor and other foreign exchange interbank indexes. Conversely, the bonds issued by the Group October 2025 accrue a fixed interest rate. The Group’s financial debt accrues both a floating and a fixed rate as a consequence of seeking a balance in the financial expenses, adapting them to the economic cycle, the interest rate (short and long-term) and their foreseeable development and the financing alternatives (especially the terms, costs and depreciation). It is also influenced by the changes in debt, which leads to using the facilities and performing repayments dynamically, based on the agreement facilities. If during the 2025 financial year, the average reference interest rate of financial debt denominated in euros had varied by 50 Bps, keeping the rest of the variables constant, the financial result would have been modified by 11,140 thousand euros. If during the 2024 financial year, the average reference interest rate of financial debt denominated in euros had varied by 50 Bps, keeping the rest of the variables constant, the financial result would have been modified by 10,479 thousand euros. Liquidity risk Liquidity risk is evaluated as the risk that the Group will not be able to service its payment commitments as a result of adverse conditions in the debt and/or equity markets that prevent or hinder its capital raising efforts or cash liquidity needs exceeding those budgeted. The Group manages liquidity risk looking for cash availability to cover its cash needs and debt maturity for a period of 12 months, thereby avoiding the need to raise funds on disadvantageous terms to cover short - term needs. The available liquidity comprises cash and cash equivalents and undrawn credit lines, according to the Consolidated Balance Sheet, without adjusting them proportionally by the shareholdings, or by resources in subsidiaries subject to administrative authorisation. As at 31 December 2025, cash and cash equivalents amount to 1,106.5 million euros, current financial assets amount to 236.1 million euros, unused credit lines amount to 553.1 million euros, and the undrawn Revolving Credit Facility amounts to 500.0 million euros, so the total amount of cash and cash equivalents amounts to 2, 395.7 million euros (Note 4.4.) (2,088.1 million euros as at 31 December 2024). Also, financial debt maturing under 12 months amounted to 546.6 million euros. At 31 December 2025, cash flows from operating activities were positive in the amount of 1,195.2 million euros, which, compared to cash flows from investing activities (excluding the sale and purchase of companies), which were negative in the amount of 934.5 million euros, represents an excess of positive
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131 cash flows in the amount of 260.6 million euros (excess positive flows in the amount of 54.0 million euros at 31 December 2024). Liquidity risk management in the next 12 months is complemented with the management of the debt maturity profile, seeking an appropriate average maturity and refinancing in advance the short -term maturities, especially in the first three years. At 31 December 2025, the average life of the Group's net financial debt was 2.85 years (estimated considering the use of cash and long -term credit lines to repay shorter term debt) (3.40 years at 31 December 2024). Working capital can be defined as the permanent financial resources that finance the company's current activities, that is, the portion of current assets financed with long -term funds. At 31 December 2025, negative working capital amounts to 3 million euros (negative 160 million euros at 31 December 2024). This is the difference between the long-term financial debt (2,617 million euros) plus equity (3,122 million euros), less net fixed assets, excluding deferred tax assets (5,742 million euros). This amount exceeded the working capital related to the EBITDA, amounting to -555 million euros at 31 December 2025 (-427 million euros at 31 December 2024). Additionally, as indicated in Note 37, on 8 January 2026, the amendment of the syndicated loan was formalized, extending its maturity by two years, which improves the Group’s liquidity position. Credit risk Credit risk is concentrated primarily in the Group's accounts receivable, which have a high credit rating. Each business unit manages its credit risk according to policies, procedures and controls determined by the Group regarding credit risk management of customers. At each closing date, the Group companies assess the need for provisions or impairment for each individual major client. The Group has no guarantee on debts and has concluded that the risk concentration is low given that its customers belong to distinct jurisdictions and operate in highly independent markets. The credit risk with banks is managed by the treasury department of the Group according to Group policies. Investments of excess funds are only made with authorised counterparties and always within the credit limits assigned to such counterparties. The limits are established in order to minimise risk concentration, thereby mitigating financial losses in the event of a default by the counterparty. The maximum exposure of the Group to credit risk at 31 December 2025 and 31 December 2024 are the carrying amounts, as shown in Note 15, except for financial guarantees and derivative financial instruments. The net Credit Valuation Adjustment by counterparty (CVA + DVA) is the method used to value the credit risk of the counterparties and the Parent Company in calculating the fair value of derivative financial instruments. This adjustment reflects the possibility of bankruptcy or impairment of the credit quality of the counterparty and the Parent Company. The simplified formula corresponds to the expected exposure multiplied by the possibility of bankruptcy and by the expected loss in case of non -payment. For calculating such variables the Parent Company uses market references.
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132 Commodity price risk Steel, followed by aluminium, is the main commodity used in the business. In 2025, 63% of the steel and 86% of the aluminium had been purchased through "re -sale" programs with customers (61% of steel and 84% of aluminium in 2024), whereby the car manufacturer periodically negotiates with the steel maker the price of the steel and aluminium that the Group uses for the production of automotive components. The selling price of the end product to the customer is directly adjusted by any fluctuations in aluminium and steel prices. In the case of products that use aluminium and steel purchased outside the "re-sale" method, a part of the customers adjust the prices of Group products, taking as a base the fluctuations in steel prices that the customers agree with the iron and steel industry, others adjust the prices based on public indexes and with others, negotiations are held upon the initiative of the parties. Historically, the Group has negotiated its steel purchase agreements with the iron and steel manufacturers to ensure suitable conditions. 34.2. Hedge accounting For the purpose of hedge accounting, the Group classifies its hedges as: ➢ Fair value hedges when hedging the exposure to changes in the market value, due to a specific risk, of an asset or liability previously recognised in the Consolidated Balance Sheet, or of a firm commitment. ➢ Cash flow hedges when hedging exposure to fluctuations in cash flows that are either attributable to a particular risk associated with an asset or liability previously recognised in the Consolidated Balance Sheet, or to a highly probable forecast transaction. ➢ Hedges of a net investment in a foreign operation when hedging exposure to variability in exchange rates relative to a net investment in a foreign operation. Such derivative financial instruments are initially recognised in the Consolidated Balance Sheet at acquisition cost and are subsequently valued in each period at fair value. Changes in fair value are normally accounted for in keeping with specific hedge accounting criteria. The accounting for these instruments is carried out as follows: ➢ Fair value hedges: changes in the fair value of both the hedging instrument and the hedged item, in both instances attributable to the risk hedged, are recognised in the Consolidated Income Statement. ➢ Cash flow hedges: changes in the fair value of the hedging instrument attributable to the risk hedged, as long as the hedge is effective, are recognised in Retained earnings under Equity. The cumulative amount of Retained earnings are transferred to the Consolidated Income Statement when the hedged cash flows affect profit or loss. ➢ Hedges of a net investment in a foreign operation: its operating account is similar to the hedging of cash flows and the account used to include the changes in the value of the hedge instrument in the Consolidated Balance Sheet is the Translation differences account. The cumulative amount of the measurement in Translation differences is transferred to results, provided that the investment abroad that has generated such differences is disposed of.
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133 34.3. Valuation method (fair value estimate) The fair value of financial instruments is determined as follows: ➢ The fair value of financial instruments that are actively traded in organised financial markets is determined by reference to quoted market prices. ➢ Where there is no active market, fair value is determined using cash flow analysis discounted at market discount rates and based on market assumptions at the time of the estimate. In relation to options, fair value is determined using implied volatility in market participants' quoted prices. Non-current financial assets There is no difference between the fair value and carrying amount of non-current loans granted since they all accrue interest at floating rates. Equity investments in other companies are included in the Consolidated Balance Sheet at fair value when they can be valued reliably. Since it is usually not possible to measure the fair value of shareholdings in unlisted companies reliably, these investments are valued at acquisition cost or lower if there is evidence of impairment. Changes in fair value, net of the related tax effect, are recognised with a charge or credit, as appropriate, to “Retained earnings” within Equity until these investments are sold, at which time the cumulative amount recognised in Equity is allocated in full to the Consolidated Income Statement. If fair value is lower than acquisition cost, the difference is recognised directly in equity, unless the asset is determined to be impaired, in which case it is recognised in the Consolidated Income Statement. Trade receivables For receivables due in less than one year, the Group considers the carrying amount a reasonable approximation of fair value. Current financial assets There is no difference between the fair value and carrying amount of short-term loans granted since they all accrue interest at market rates. For other current financial assets, as their maturity is near the financial year end, the Group considers their carrying amounts a reasonable approximation of fair value. Bank borrowings For current and non -current bank borrowings there is no difference between fair value and carrying amount since all these bank borrowings bear interest at market rates. Trade and other payables The Group considers the carrying amount of the items recorded in this Consolidated Balance Sheet heading to be an adequate approximation of fair value. Fair values of financial instruments The fair values of current and non -current financial assets and liabilities do not differ significantly from their respective carrying amounts. The Group uses the following sequence of three levels, based on the relevance of the variables used, to measure the fair value of its financial instruments:
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134 • Level 1: Unadjusted quoted price for identical assets or liabilities in active markets. • Level 2: Variables which are observably different from the prices quoted in Level 1, either directly (price), or indirectly (derived from the price). • Level 3: Variables which are not based on observable market data (non-observable variables). The classification of financial assets recognised in the Consolidated Balance Sheet at fair value, in line with the methodology for calculating such fair value, was as follows: The classification of financial liabilities recorded in the Consolidated Financial Statements at their fair value, according to the calculation methodology of said fair value, is as follows: 34.4. Capital risk management The objective of the Group’s capital management is to protect its ability to continue as a going concern, upholding the commitment to remain solvent and seeking strong returns for shareholdings. The Group monitors its capital structure based on its leverage ratio. It defines leverage as net financial debt (the sum of financial borrowings, finance lease payables, borrowings from related parties and other financial liabilities less short -term financial assets and cash and cash equivalents) divided by total equity (consolidated equity plus grants yet to be recognized in the income statement). At 31 December 2025 this ratio is 0.6 (0.7 at 31 December 2024). The Net Financial Debt/EBITDA ratio (last 12 months) is mainly used to monitor solvency, which amounted to 1.4 at 31 December 2025 (1.6 at 31 December 2024). Gestamp Automoción, S.A. is rated by the rating agencies Standard & Poor's and Moody's at BB Outlook Stable and Ba2 Outlook Stable, respectively, included in the speculative grade region. Note 35. Information on payment deferrals to suppliers in commercial operations The Group's Spanish companies have adapted their internal process and payment period policy to Law 15/2010, hence, measures to fight against default in trade operations have been implemented. In this 2025 2024 2025 2024 2025 2024 Financial assets measured at fair value Hedging derivative financial instruments (Note 23.b.1)) — — 36,001 56,609 — — Financial derivative instruments held-for-trading (Note 23.b.1)) — — 8,903 — — — Total — — 44,904 56,609 — — Level 2 Thousands of euros Level 3Level 1 2025 2024 2025 2024 2025 2024 Hedging derivative financial instruments — — 36,423 44,944 — — Financial derivative instruments held-for-trading — — 2,808 — — — Total Derivative financial instruments (Note 23.b.1)) — — 39,231 44,944 — — Defined benefit remunerations (Note 22.b)) 71,924 76,321 — — — — Total 71,924 76,321 39,231 44,944 — — Level 1 Level 3 Thousands of euros Level 2
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135 regard, the contracting conditions for commercial suppliers corresponding to the industrial activity of manufacturing parts located in Spanish territory have included payment periods equal to or less than 60 days, both in the 2025 financial year and in the 2024 financial year, as established in the Second Transitional Provision of the aforementioned Law. In accordance with such Law, the following information corresponds to the Group companies that operate in Spain: 2025 FY Average payment period to suppliers 50 days Total payments made 3,954 million euros Total pending payments 668 million euros 2024 FY Average payment period to suppliers 43 days Total payments made 4,282 million euros Total pending payments 660 million euros The monetary volume paid in the 2025 financial year within the statutory term established in payment default regulations for companies based in Spain is 1, 124 million euros (1,083 million euros in 2024) corresponding to 86,592 invoices (63,360 invoices in 2024). For reasons of efficiency and in line with common business uses, the Group's Spanish companies basically have a supplier payment schedule, whereby payments are made on fixed days which, at the main companies, are twice a month. Generally in 2025 and 2024, the payments made by Spanish companies to suppliers, under agreements entered into following the entry into force of Ley 15/2010, did not exceed the statutory deferral limits. Payments to Spanish suppliers that during the 2025 and 2024 financial years have exceeded the established legal term have been, in quantitative terms, of little relevance and are derived from circumstances or incidents beyond the established payment policy, among which are, mainly, the closing of agreements with suppliers on the delivery of goods or provision of services or specific processing procedures. Note 36. Assets and liabilities held available for sale As at 31 December 2025, the assets and liabilities that have been classified as Assets and Liabilities held for sale are as follows: In 2024, management made a plan to sell some operational assets in the USA. During the 2025 financial year, the disposal of assets amounting to 43,660 thousand euros was completed, resulting in a gain of 214 thousand euros. 31-12-2025 31-12-2024 Assets Assets held for sale 5,077 43,660 Liabilities Liabilities associated with assets held for sale — 3,727 Thousand of euros
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136 Additionally, during the 2025 financial year, as a result of the business combination through which the Industrias López Soriano Group was acquired, assets held for sale amounting to 6,367 thousand euros were recognised (Note 3), part of which were subsequently disposed of. Note 37. Subsequent events On 8 January 2026, a novation of the syndicated loan was formalised for a total amount of 1, 200 and 500 million euros respectively, agreeing to extend its maturity from 2028 to 2031 and to amend the interest rate, with no changes made to the remaining guarantees and covenants. The syndicated loan provides for two repayments, one of 600 million in 2030 and another 600 million in 2031, whereas the revolving credit facility contemplates a single maturity, in 2031, in the event it is drawn. Other than as indicated above, there were no significant subsequent events after 31 December 2025. Note 38. Information on compliance with article 229 of the Spanish Companies Law In accordance with Articles 229 and 231 of the Spanish Companies Act (LSC), in order to enhance transparency of capital companies, the members of the Board of Directors of the Parent Company have reported that they have no situations of direct or indirect conflict with the interests of the Parent Company or its subsidiaries. Additionally, Mr Francisco José Riberas Mera and Mr Juan María Riberas Mera, members of the Board of Directors of the Parent Company, have reported that they are partners and directors of ACEK, DESARROLLO Y GESTIÓN INDUSTRIAL, S.L. and of the companies that form part of the Group of which it is the parent company. ACEK, DESARROLLO Industrial, S.L. is the parent company of an industrial group that engages in the activities listed below through the following sub-groups: • GRUPO GESTAMP AUTOMOCIÓN: engaging in the manufacturing and sale of metal parts and components for the automotive sector. • GONVARRI GROUP: engaged in the manufacture, processing and trading of metallic products, including renewable energy structures, such as wind power towers, infrastructures for photovoltaic parks and thermo-solar plant items. • ACEK ENERGÍAS RENOVABLES GROUP: engaged in the development, construction and operation of renewable energy generation plants, including solar power, wind power and biomass. • INMOBILIARIA ACEK GROUP: engaged in real estate activities. • SIDEACERO SUBGROUP: dedicated to the import, export, purchase, sale and intermediation of ferrous and non-ferrous products, steel materials, recovery materials and recoverable waste. Furthermore, ACEK, DESARROLLO Y GESTIÓN INDUSTRIAL, S.L. has maintained shareholdings in companies that could be considered to have the same, similar or complementary type of activity to the corporate purpose of the Parent Company or the Group companies, and these are as follows: ➢ Direct and indirect shareholding (through the subsidiary Risteel Corporation, B.V. and the associated company Inversiones, Estrategia y Conocimiento Global, CYP , S.L.) of 18.202% of CIE
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137 Automotive, S.A., a company of which Mr. Francisco José Riberas Mera and Mr. Juan María Riberas Mera are directors. CIE Automotive, S.A. is parent company of an industrial group that engages in design, manufacturing and sales activities of components and sub -sets for the global automotive market, among other activities.
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138 Appendix I Scope of Consolidation Gestamp Automoción, S.A. Vizcaya Spain Parent company Portfolio company Full PriceWaterhouseCoopers Gestamp Bizkaia, S.A. Vizcaya Spain 85.31% 14.69% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Vigo, S.A. Pontevedra Spain 99.99% 0.01% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Cerveira, Lda. Viana do Castelo Portugal 39.37% 60.63% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Toledo, S.A. Toledo Spain 99.99% 0.01% Tooling and parts manufacturing Full PriceWaterhouseCoopers Autotech Engineering S.L. Vizcaya Spain 10.00% 90.00% Research and development Full PriceWaterhouseCoopers SCI de Tournan SUR Tournan France 0.10% 99.90% Property Full N/A Gestamp Solblank Barcelona, S.A. Barcelona Spain 5.01% 94.99% Tailor-welded blanks Full PriceWaterhouseCoopers Gestamp Palencia, S.A. Palencia Spain 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Argentina, S.A. Buenos Aires Argentina 99.10% Portfolio company Full PriceWaterhouseCoopers Gestamp Córdoba, S.A. Córdoba Argentina 38.54% 60.69% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Linares, S.A. Jaén Spain 5.02% 94.98% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Servicios, S.A. Madrid Spain 100.00% Business promotion and support Full PriceWaterhouseCoopers Gestamp Tech, S.L. Palencia Spain 0.33% 99.67% No activity Full N/A Gestamp Brasil Industria de Autopeças, S.A. Parana Brazil 70.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Metalbages, S.A. Barcelona Spain 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Esmar, S.A. Barcelona Spain 0.01% 99.99% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Noury, S.A.S Tournan France 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Aveiro - Indústria de acessórios de Automóveis, S.A. Aveiro Portugal 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Griwe Westerburg GmbH Westerburg Germany 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Griwe Haynrode GmbH Haynrode Germany 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Aguascalientes, S.A.de C.V. Aguas Calientes Mexico 70.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Puebla, S.A. de C.V. Puebla Mexico 70.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Cartera de México, S.A. de C.V. Puebla Mexico 70.00% Portfolio company Full N/A Gestamp San Luis de Potosí II, S.A. de C.V. Aguas Calientes Mexico 70.00% Employment services Full Ernst & Young Gestamp Ingeniería Europa Sur, S.L. Barcelona Spain 100.00% Service provision Full PriceWaterhouseCoopers Todlem, S.L. Barcelona Spain 74.98% Portfolio company Full PriceWaterhouseCoopers Gestamp Navarra, S.A. Navarra Spain 71.37% 28.63% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Baires, S.A. Buenos Aires Argentina 77.04% 22.96% Dies, stamping and parts manufacturing Full PriceWaterhouseCoopers Ingeniería Global Metalbages, S.A. Barcelona Spain 100.00% Administration services Full N/A Gestamp Aragón, S.A. Zaragoza Spain 5.01% 94.99% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Abrera, S.A. Barcelona Spain 5.01% 94.99% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Levante, S.A. Valencia Spain 88.50% 11.50% Tooling and parts manufacturing Full PriceWaterhouseCoopers Automated Joining Solutions, S.L. Barcelona Spain 100.00% Tooling and parts manufacturing Full N/A Gestamp Polska SP. Z.O.O. Wielkopolska Poland 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Hungaria KFT Akai Hungary 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp North America, INC Michigan USA 71.62% 28.38% Administration services Full PriceWaterhouseCoopers Gestamp Sweden, AB Lulea Sweden 93.15% 6.85% Portfolio company Full PriceWaterhouseCoopers Gestamp HardTech, AB Lulea Sweden 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Mason, LLc. Michigan USA 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Alabama, LLc. Alabama USA 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Ronchamp, S.A.S Ronchamp France 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Manufacturing Autochasis, S.L. Barcelona Spain 5.01% 94.99% Tooling and parts manufacturing Full PriceWaterhouseCoopers Company CountryAddress December 31, 2025 % direct ownership % indirect ownership Integration methodActivity Auditors
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139 Gestamp Auto Components (Kunshan) Co., Ltd Kunshan China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Kartek Co., LTD Gyeongsangnam-Do South Korea 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Beyçelik Gestamp Otomotive Sanayi, A.S. Bursa Türkiye 50.00% Tooling and parts manufacturing Full Deloitte Gestamp Toluca, S.A. de C.V. Puebla Mexico 70.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Services India Private, Ltd. Mumbai India 100.00% Tooling and parts manufacturing Full S.B. Dave & Co. Gestamp Severstal Vsevolozhsk Llc San Petersbursgo Russia 74.98% Tooling and parts manufacturing Full PriceWaterhouseCoopers Adral, matriceria y pta. a punto, S.L. Vizcaya Spain 100.00% Mould manufacturing and tuning Full PriceWaterhouseCoopers Gestamp Severstal Kaluga, LLc Kaluga Russia 74.98% Tooling and parts manufacturing Full Ernst & Young Gestamp Automotive India Private Ltd. Pune India 50.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Pune Automotive, Private Ltd. Pune India 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Chattanooga, Llc Chattanooga USA 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Holding Rusia, S.L. Madrid Spain 47.66% 52.34% Portfolio company Full PriceWaterhouseCoopers Gestamp South Carolina, Llc South Carolina USA 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Holding China, AB Lulea Sweden 31.06% 68.94% Portfolio company Full PriceWaterhouseCoopers Gestamp Global Tooling, S.L. Vizcaya Spain 99.99% 0.01% Manufacturing of dies Full PriceWaterhouseCoopers Gestamp Tool Hardening, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full PriceWaterhouseCoopers Gestamp Vendas Novas Lda. Évora Portugal 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Automotive Chennai Private Ltd. Chennai India 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Palau, S.A. Barcelona Spain 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp North Europe Services, S.L. Vizcaya Spain 99.97% 0.03% Consultancy services Full PriceWaterhouseCoopers Loire Sociedad Anónima Franco Española Guipúzcoa Spain 100.00% Manufacture and sale of cutting machinery Full PriceWaterhouseCoopers Loire USA, Inc. Delaware USA 100.00% Manufacture and sale of cutting machinery Full N/A Gestamp Tooling Erandio, S.L. Guipúzcoa Spain 100.00% Portfolio company Full PriceWaterhouseCoopers Diede Die Developments, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full IZE Auditores Gestamp Louny, S.R.O. Praga Czech Republic 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Auto Components (Shenyang), Co. Ltd. Shenyang China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp West Virginia, Llc. Michigan USA 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. Kocaeli Türkiye 50.00% Tooling and parts manufacturing Full Deloitte Gestamp Auto Components (Dongguan), Co. Ltd. Dongguan China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Try Out Services, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full PriceWaterhouseCoopers Gestión Global de Matricería, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full PriceWaterhouseCoopers Ingeniería y Construcción de Matrices, S.A.U Vizcaya Spain 100.00% Manufacturing of dies Full IZE Auditores IxCxT, S.A. Vizcaya Spain 100.00% Manufacturing of dies Full IZE Auditores Gestamp Puebla II, S.A. de C.V. Puebla Mexico 70.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Autotech Engineering Deutschland GmbH Bielefeld Germany 100.00% Research and development Full PriceWaterhouseCoopers Autotech Engineering R&D Uk limited Durhan United Kingdom 100.00% Research and development Full PriceWaterhouseCoopers Gestamp Holding México, S.L. Madrid Spain 70.00% Portfolio company Full Ernst & Young Gestamp Finance Mercosur S.L Madrid Spain 40.81% 59.19% Portfolio company Full Ernst & Young Mursolar 21, S.L. Madrid Spain 100.00% Portfolio company Full PriceWaterhouseCoopers GGM Puebla, S.A. de C.V. Puebla Mexico 100.00% Tooling and parts manufacturing Full N/A GGM Puebla Servicios Laborales, S.A. de C.V. Puebla Mexico 100.00% Employment services Full N/A Gestool Tooling Manufacturing (Kunshan), Co., Ltd Kunshan China 100.00% Manufacturing of dies Full PriceWaterhouseCoopers Gestamp Technology Institute, S.L. Vizcaya Spain 99.97% 0.03% Education Full N/A Gestamp Tooling Engineering Deutschland, GmbH Braunschweig. Germany 100.00% Manufacturing of dies Full N/A Gestamp Chattanooga II, Llc Chattanooga USA 100.00% Tooling and parts manufacturing Full N/A AuditorsCompany CountryAddress December 31, 2025 % direct ownership % indirect ownership Integration methodActivity
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140 Autotech Engineering R&D USA, Inc. Delaware USA 100.00% IT, and research and development Full N/A Çelik Form Gestamp Otomotive, A.S. Bursa Türkiye 50.00% Tooling and parts manufacturing Full Deloitte Gestamp Washtenaw, LLc. Delaware USA 100.00% Tooling and parts manufacturing Full N/A Gestamp San Luis Potosí, S.A.P.I. de C.V. México DF Mexico 100.00% Employment services Full Rusell Bedford Gestamp Auto Components (Tianjin) Co., LTD. Tianjin China 51.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp 2017, S.L.U. Madrid Spain 100.00% Portfolio company Full N/A Autotech Engineering (Shangai), Co. Ltd. Shangai China 100.00% Research and development Full PriceWaterhouseCoopers Gestamp Hot Stamping Japan Co. Ltd. Tokio Japan 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Global Laser Araba, S.L. Álava Spain 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Beycelik Romania, S.R.L. Darmanesti Romania 50.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S. Bursa Türkiye 50.00% Manufacturing of dies Full Deloitte Gestamp Nitra, S.R.O. Bratislava Slovakia 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Almussafes Mantenimiento de Troqueles, S.L. Barcelona Spain 100.00% Die maintenance Full Ernst & Young Gestamp (China) Holding, Co. Ltd Shangai China 100.00% Portfolio company Full PriceWaterhouseCoopers Gestamp Autotech Japan K.K. Tokio Japan 100.00% Research and development Full PriceWaterhouseCoopers Tuyauto Gestamp Morocco, S.A. Kenitra Morocco 100.00% Tooling and parts manufacturing Full N/A Gestamp Auto Components (Beijing) Co., Ltd. Beijing China 51.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Mexicana Serv. Lab. II, S.A. de CV México DF Mexico 70.00% Employment services Full N/A Reparaciones Industriales Zaldibar, S.L. Vizcaya Spain 99.99% 0.01% Industrial equipment services Full N/A Autotech Engineering Spain, S.L. Madrid Spain 100.00% Research and development Full PriceWaterhouseCoopers Autotech Engineering France, S.A.S. Meudon la Forêt France 100.00% Research and development Full N/A Gestamp Auto Components Sales (Tianjin) Co., LTD. Tianjin China 49.00% Consulting and Post-sales services Equity method N/A Gestamp Etem Automotive Bulgaria, S.A. Sofía Bulgaria 51.00% Industrialization of post-extrusion activities Full N/A Etem Gestamp Aluminium Extrusions, S.A. Sofía Bulgaria 49.00% Tooling and parts manufacturing Equity method N/A Gestamp Proyectos Automoción 1, S.L. Madrid Spain 100.00% Tooling and parts manufacturing Full N/A Gestamp Proyectos Automoción 3, S.L. Madrid Spain 99.81% 0.19% Tooling and parts manufacturing Full N/A Gestamp Proyectos Automoción 2, S.L. Madrid Spain 99.98% 0.02% Tooling and parts manufacturing Full N/A Smart Industry Consulting and Technologies, S.L.U Vizcaya Spain 91.00% Research and development Full N/A Changchun Xuyang Gestamp Auto Components Co. Ltd. Chaoyang China 49.00% Consulting and Post-sales services Equity method N/A Gestamp Saint Clair, LLC. Michigan USA 100.00% Parts manufacture Full N/A Gestamp Stanton, LLC. Michigan USA 100.00% Parts manufacture Full N/A Edscha Mecatrónica México, S.A. de C.V. México D.F. Mexico 100.00% Tooling and parts manufacturing Full N/A Edscha Holding GmbH Remscheid Germany 100.00% Portfolio company Full N/A Edscha Automotive Hengersberg GmbH Hengersberg Germany 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Automotive Hauzenberg GmbH Hauzenberg Germany 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Engineering GmbH Remscheid Germany 100.00% Research and development Full JKG Treuhand Edscha Hengersberg Real Estate GmbH & Co. KG Hengersberg Germany 5.10% 94.90% Property Full N/A Edscha Hauzenberg Real Estate GmbH & Co. KG Hauzenberg Germany 5.10% 94.90% Property Full N/A Edscha Automotive Kamenice, S.R.O. Kamenice Czech Republic 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Hradec S.R.O. Hradec Czech Republic 100.00% Manufacturing of dies Full PriceWaterhouseCoopers Edscha Velky Meder S.R.O. Velky Meder Slovakia 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp 2008, S.L. Villalonquéjar (Burgos) Spain 100.00% Portfolio company Full PriceWaterhouseCoopers Edscha Burgos, S.A. Villalonquéjar (Burgos) Spain 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Santander, S.A. El Astillero (Cantabria) Spain 5.01% 94.99% Tooling and parts manufacturing Full PriceWaterhouseCoopers Company Address Country December 31, 2025 Activity Integration method % indirect ownership % direct ownership Auditors
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141 Edscha Briey, S.A.S. Briey Cedex France 100.00% Tooling and parts manufacturing Full N/A Edscha Engineering France, S.A.S. Les Ulis France 100.00% Research and development Full N/A Edscha do Brasil, Ltda. Sorocaba Brazil 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Japan Co., Ltd. Tokio Japan 100.00% Sales office Full N/A Jui li Edscha Body Systems Co. Ltd. Kaohsiung Taiwan 60.00% Tooling and parts manufacturing Full Deloitte Jui li Edscha Holding, Co. Ltd. Apia Samoa 60.00% Portfolio company Full N/A Jui Li Edscha Hainan Industry Enterprise Co., Ltd. Hainan China 60.00% Tooling and parts manufacturing Full Guangdong Chenganxin Certified Public Accountant Edscha Automotive Technology (Shangai), Co., Ltd. Shanghai China 100.00% Research and development Full Shangai Hu Gang Jin Mao C.P.A Co.Ltd. Shanghai Edscha Machinery Co. Ltd. Shanghai China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Anhui Edscha Automotive Parts, Co. Ltd. Anhui China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Automotive Michigan, Inc. Lapeer USA 100.00% Tooling and parts manufacturing Full N/A Edscha Automotive Components (Kunshan), Co., Ltd. Kunshan China 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Kunststofftechnik GmbH Remscheid Germany 100.00% Tooling and parts manufacturing Full JKG Treuhand Edscha Pha, Ltd. Seul South Korea 50.00% Parts manufacture, research and development Full Deloitte Edscha Aapico Automotive,Co. Ltd Pranakorn Sri Ayutthaya Thailand 51.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Automotive SLP, S.A.P.I. de C.V. México DF Mexico 100.00% No activity Full N/A Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. México DF Mexico 100.00% No activity Full N/A Edscha Automotive Components (Chongqing), Co. Ltd. Chongqing China 100.00% Tooling and parts manufacturing Full Anhui Cheng Qin Certified Public Accountants Edscha Pha Automotive Components (Kunshan) Co., Ltd. Kunshan China 50.00% Parts manufacture Full Suzhou Xingyuan Uniting Certified Public Accountants Edscha North America Technologies, Llc. Delaware USA 100.00% Holding/Divisional company Full N/A Edscha Automotive Components (Shanghai), Co., Ltd Shanghai China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Edscha Mechatronics Solutions, GmbH Remscheid Germany 100.00% Parts manufacture, research and development Full N/A Edscha Aditya Automotive Systems Private Limited Chakan India 50.00% Development and manufacture of parts Full N/A EPL Georgia, LLC Georgia USA 50.00% Tooling and parts manufacturing Full N/A GMF Holding GmbH Bielefeld Germany 100.00% Portfolio company Full PriceWaterhouseCoopers Gestamp Metal Forming (Wuhan), Ltd Wuhan China 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Umformtechnik GmbH Ludwigsfelde Germany 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Automotive Chassis Products, Plc. Newton Aycliffe, Durham United Kingdom 100.00% Portfolio company Full PriceWaterhouseCoopers Sofedit, S.A.S Le Theil sur Huisne France 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Prisma, S.A.S Usine de Messempré France 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Tallent , Ltd Newton Aycliffe, Durham United Kingdom 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Wroclaw Sp.z,o.o. Wroclaw Poland 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Auto components (Chongqing) Co., Ltd. Chongqing China 100.00% Tooling and parts manufacturing Full PriceWaterhouseCoopers Gestamp Wolfsburg, GmbH Ludwigsfelde Germany 100.00% Tooling and parts manufacturing Full N/A Gestamp Leasing USA, LLC Delaware USA 100.00% Services rendered and rents Full N/A Gestamp Tooling USA, INC West Virginia USA 100.00% Manufacturing of dies Full N/A Gestamp Servicios Portugal, Lda Oliveira de Azeméis Portugal 1.00% 99.00% Service provision Full N/A Gestamp Saltillo S.A. de C.V. México DF Mexico -% 100.00% Tooling and parts manufacturing Full N/A Gestamp Real Estate Bizkaia, S.L. Vizcaya Spain 3.15% 71.93% Property Full N/A Gestamp Real Estate Assets 1, S.L. Madrid Spain 6.87% 49.24% Property Full N/A Gestamp Real Estate Investment 2, S.L. Madrid Spain 62.59% Property Full N/A Gestamp Real Estate Management 3, S.L. Madrid Spain 63.81% Property Full N/A AuditorsCompany Address Country Integration methodActivity% indirect ownership December 31, 2025 % direct ownership
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142 The Sideacero Subgroup comprises the companies in the following table. Sideacero, S.L. Vizcaya Spain 33.34% Treatment, commercialization and distribution of scrap Full N/A Gescrap, S.L. Vizcaya Spain 33.34% Treatment, commercialization and distribution of scrap Full Grant Thornton, S.L.P. Gescrap Centro, S.L. Madrid Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Navarra, S.L. Navarra Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Trading, S.L. Vizcaya Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Polska Sp. Z.o.o. Wrzesnia Poland 33.34% Sale of scrap Full Grant Thornton Polska, P.S.A. Gescrap Servicios Portuarios, S.L. Vizcaya Spain 33.34% Transport Services Full Grant Thornton, S.L.P. Industrial Steel Recycling, L.L.C. Kaluga Russia 33.34% Services rendered Recovery sector Full Balance Audit, L.L.C. Gescrap GmbH Ichtershausen Germany 33.34% Sale of scrap Full Grant Thornton AG Wirtschaftsprüfungsgesellschaft Gescrap France, S.A.R.L. Melun France 33.34% Sale of scrap Full Becouze (Crowe Global) Lusoscrap, Lda Valenca Portugal 33.34% Sale of scrap Full Grant Thornton & Associados, SROC, Lda. Gescrap Czech, s.r.o. Louny Czech Republic 33.34% Sale of scrap Full Ing. Jan Harapes Gescrap Autometal Comercio De Sucatas, S.A Sao Paulo Brazil 23.34% Sale of scrap Full Ernst & Young Gescrap Autometal Mexico, S.A. de C.V. Puebla Mexico 23.34% Sale of scrap Full Baker Tilly México Ges Recycling Limited Durham United Kingdom 33.34% Sale of scrap Full Fruition Accountancy LLP Gescrap Hungary, KFT Budapest Hungary 33.34% Sale of scrap Full Focus Audit Kft. Ges Recycling USA, LLC Delaware USA 33.34% Portfolio company Full N/A Ges Trading Nar S.A. de C.V. Puebla Mexico 23.67% Process outsourcing Full Salles Sainz Grant Thornton S.C. Gescrap Noroeste, S.L. Pontevedra Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Transportes Basegar, S.A. Vizcaya Spain 25.01% Transport Services Full Grant Thornton, S.L.P. Gescrap Aragón, S.L. Zaragoza Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Ges Recycling South Carolina, LLC Carolina del Sur USA 33.34% Sale of scrap Full N/A Ges Recycling Alabama, LLC Alabama USA 33.34% Sale of scrap Full N/A Ges Recycling Tennessee, LLC Tennessee USA 33.34% Sale of scrap Full N/A Ges Recycling West Virginia, LLC Carolina del Sur USA 33.34% Sale of scrap Full N/A Gescrap Slovakia, s.r.o. Bratislava Slovakia 33.34% Sale of scrap Full N/A Soluciones de Gestión de Residuos Mexicana, S.A. de C.V. Puebla Mexico 23.37% Process outsourcing Full N/A Ges Recycling Michigan, LLC Michigan USA 33.34% Sale of scrap Full N/A Gescrap Romania, S.R.L. Judet Arges Romania 33.32% Sale of scrap Full N/A Gescrap India Private Limited Maharastra India 23.34% Sale of scrap Full Sreedhar Manikant and Associates Ges Recycling Polska Sp. Z.o.o Wrzesnia Poland 33.34% Sale of scrap Full N/A Gescrap LT, UAB Vilna Lithuania 33.34% Sale of scrap Full N/A Gescrap Morocco, S.R.L. Casablanca Morocco 33.34% Sale of scrap Full N/A Samper-Refeinsa Galicia, S.L. Pontevedra Spain 33.34% Purchase/Sale of scrap Full Grant Thornton, S.L.P. Gescrap Turkey Metal Sanayi ve Ticaret Limited Sirketi Estambul Türkiye 16.67% Purchase/Sale of scrap Full N/A Gescrap Slovenia d.o.o. Ljubljana Slovenia 33.34% Purchase/Sale of scrap Full N/A Gescrap Bulgaria, EOOD Sofia Bulgaria 33.34% Purchase/Sale of scrap Full N/A Gescrap Recycling S XXI Sestao Spain 33.34% Purchase/Sale of scrap Full N/A Recuperaciones Medioambientales Industriales, S.L. Vizcaya Spain 33.34% Treatment, commercialization and distribution of scrap Full Grant Thornton, S.L.P. Gescrap Catalunya, S.L. Barcelona Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Refeinsa Navarra, S.L. Navarra Spain 33.34% Sale of scrap Full N/A Refeinsa Centro, S.L. Madrid Spain 33.34% Sale of scrap Full N/A Company CountryAddress December 31, 2025 % direct ownership % indirect ownership Integration methodActivity Auditors
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143 Reimasa Recycling, S.L. Vizcaya Spain 33.34% Sale of scrap Full Grant Thornton, S.L.P. Recuperaciones Férricas Asturianas, S.L. Asturias Spain 16.67% Sale of scrap Full Grant Thornton, S.L.P. Car Recycling, S.L. Vizcaya Spain 16.67% Sale of scrap Equity method N/A Beta Steel, S.L. Toledo Spain 23.34% Purchase/Sale of scrap Equity method N/A DJC Recyclage Le Haillen France 16.67% Purchase/Sale of scrap Equity method N/A Cortes y Aplanaciones, S.A. Zaragoza Spain 33.34% Steel products cutting Full N/A Ilsacer 2000, S.L.U. Zaragoza Spain 33.34% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Ilssa Servicios De Mantenimiento, S.L.U. Zaragoza Spain 33.34% Machinery repair Full Controlplan Auditores S.L.P Industrias Lopez Division Transportes, S.A.U. Zaragoza Spain 33.34% Transport Services Full Controlplan Auditores S.L.P Industrias Lopez Servicios Administrativos, S.L. Zaragoza Spain 33.34% Service provision Full Controlplan Auditores S.L.P Industrias Lopez Soriano, S.L. Zaragoza Spain 33.34% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Reciclaje Aragones De Aparatos Electricos Y Electronicos, S.L.U. Zaragoza Spain 33.34% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Recieder, S.L. Zaragoza Spain 33.01% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Valorizacion Del Automovil Bcl, S.L.U. Zaragoza Spain 16.67% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Valorizacion Del Automovil CT, S.L.U. Zaragoza Spain 33.34% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Valorizacion Del Automovil, S.L.U. Zaragoza Spain 33.34% Treatment, commercialization and distribution of scrap Full Controlplan Auditores S.L.P Auditors December 31, 2025 % direct ownership % indirect ownership Activity Integration methodCountryAddressCompany
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144 Company Address Country Activity Auditors Gestamp Automoción, S.A. Vizcaya Spain Parent company Portfolio company Full Ernst & Young Gestamp Bizkaia, S.A. Vizcaya Spain 85.31% 14.69% Tooling and parts manufacturing Full Ernst & Young Gestamp Vigo, S.A. Pontevedra Spain 99.99% 0.01% Tooling and parts manufacturing Full Ernst & Young Gestamp Cerveira, Lda. Viana do Castelo Portugal 39.37% 60.63% Tooling and parts manufacturing Full Ernst & Young Gestamp Toledo, S.A. Toledo Spain 99.99% 0.01% Tooling and parts manufacturing Full Ernst & Young Autotech Engineering S.L. Vizcaya Spain 10.00% 90.00% Research and development Full Ernst & Young SCI de Tournan SUR Tournan France 0.10% 99.90% Property Full N/A Gestamp Solblank Barcelona, S.A. Barcelona Spain 5.01% 94.99% Tailor-welded blanks Full Ernst & Young Gestamp Palencia, S.A. Palencia Spain 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Argentina, S.A. Buenos Aires Argentina 99.10% Portfolio company Full Ernst & Young Gestamp Córdoba, S.A. Córdoba Argentina 38.53% 60.70% Tooling and parts manufacturing Full Ernst & Young Gestamp Linares, S.A. Jaén Spain 5.02% 94.98% Tooling and parts manufacturing Full Ernst & Young Gestamp Servicios, S.A. Madrid Spain 100.00% Business promotion and support Full Ernst & Young Gestamp Tech, S.L. Palencia Spain 0.33% 99.67% No activity Full N/A Gestamp Brasil Industria de Autopeças, S.A. Parana Brazil 70.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Metalbages, S.A. Barcelona Spain 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Esmar, S.A. Barcelona Spain 0.10% 99.90% Tooling and parts manufacturing Full Ernst & Young Gestamp Noury, S.A.S Tournan France 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Aveiro - Indústria de acessórios de Automóveis, S.A. Aveiro Portugal 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Griwe Westerburg GmbH Westerburg Germany 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Griwe Haynrode GmbH Haynrode Germany 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Aguascalientes, S.A.de C.V. Aguas Calientes Mexico 70.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Puebla, S.A. de C.V. Puebla Mexico 70.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Cartera de México, S.A. de C.V. Puebla Mexico 70.00% Portfolio company Full N/A Gestamp Mexicana de Serv. Laborales, S.A. de C.V. Aguas Calientes Mexico 70.00% Employment services Full Ernst & Young Gestamp Ingeniería Europa Sur, S.L. Barcelona Spain 100.00% Service provision Full Ernst & Young Todlem, S.L. Barcelona Spain 70.77% Portfolio company Full Ernst & Young Gestamp Navarra, S.A. Navarra Spain 71.37% 28.63% Tooling and parts manufacturing Full Ernst & Young Gestamp Baires, S.A. Buenos Aires Argentina 77.04% 22.50% Dies, stamping and parts manufacturing Full Ernst & Young Ingeniería Global Metalbages, S.A. Barcelona Spain 100.00% Administration services Full N/A Gestamp Aragón, S.A. Zaragoza Spain 5.01% 94.99% Tooling and parts manufacturing Full Ernst & Young Gestamp Abrera, S.A. Barcelona Spain 5.01% 94.99% Tooling and parts manufacturing Full Ernst & Young Gestamp Levante, S.A. Valencia Spain 88.50% 11.50% Tooling and parts manufacturing Full Ernst & Young Automated Joining Solutions, S.L. Barcelona Spain 100.00% Tooling and parts manufacturing Full N/A Gestamp Polska SP. Z.O.O. Wielkopolska Poland 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Hungaria KFT Akai Hungary 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp North America, INC Michigan USA 71.62% 28.38% Administration services Full Ernst & Young Gestamp Sweden, AB Lulea Sweden 93.15% 6.85% Portfolio company Full Ernst & Young Gestamp HardTech, AB Lulea Sweden 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Mason, LLc. Michigan USA 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Alabama, LLc. Alabama USA 100.00% Tooling and parts manufacturing Full Ernst & Young December 31, 2024 % direct ownership % indirect ownership Integration method
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145 Company Address Country Activity Auditors Gestamp Ronchamp, S.A.S Ronchamp France 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Manufacturing Autochasis, S.L. Barcelona Spain 5.01% 94.99% Tooling and parts manufacturing Full Ernst & Young Industrias Tamer, S.A. Barcelona Spain 43.00% Tooling and parts manufacturing Equity method Ernst & Young Gestamp Tooling Services, AIE Vizcaya Spain 100.00% Mould engineering and design Full Ernst & Young Gestamp Auto Components (Kunshan) Co., Ltd Kunshan China 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Kartek Co., LTD Gyeongsangnam-Do South Korea 100.00% Tooling and parts manufacturing Full Ernst & Young Beyçelik Gestamp Otomotive Sanayi, A.S. Bursa Turkey 50.00% Tooling and parts manufacturing Full Deloitte Gestamp Toluca, S.A. de C.V. Puebla Mexico 70.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Services India Private, Ltd. Mumbai India 100.00% Tooling and parts manufacturing Full S.B. Dave & Co. Gestamp Severstal Vsevolozhsk Llc San Petersbursgo Russia 70.77% Tooling and parts manufacturing Full Ernst & Young Adral, matriceria y pta. a punto, S.L. Vizcaya Spain 100.00% Mould manufacturing and tuning Full Ernst & Young Gestamp Severstal Kaluga, LLc Kaluga Russia 70.77% Tooling and parts manufacturing Full Ernst & Young Gestamp Automotive India Private Ltd. Pune India 50.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Pune Automotive, Private Ltd. Pune India 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Chattanooga, Llc Chattanooga USA 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Holding Rusia, S.L. Madrid Spain 42.04% 52.34% Portfolio company Full Ernst & Young Gestamp South Carolina, Llc South Carolina USA 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Holding China, AB Lulea Sweden 31.06% 68.94% Portfolio company Full Ernst & Young Gestamp Global Tooling, S.L. Vizcaya Spain 99.99% 0.01% Manufacturing of dies Full Ernst & Young Gestamp Tool Hardening, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full Ernst & Young Gestamp Vendas Novas Lda. Évora Portugal 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Automotive Chennai Private Ltd. Chennai India 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Palau, S.A. Barcelona Spain 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp North Europe Services, S.L. Vizcaya Spain 99.97% 0.03% Consultancy services Full Ernst & Young Loire Sociedad Anónima Franco Española Guipúzcoa Spain 100.00% Manufacture and sale of cutting machinery Full Ernst & Young Loire USA, Inc. Delaware USA 100.00% Manufacture and sale of cutting machinery Full N/A Gestamp Tooling Erandio, S.L. Guipúzcoa Spain 100.00% Portfolio company Full Ernst & Young Diede Die Developments, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full IZE Auditores Gestamp Louny, S.R.O. Praga Czech Republic 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Auto Components (Shenyang), Co. Ltd. Shenyang China 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp West Virginia, Llc. Michigan USA 100.00% Tooling and parts manufacturing Full Ernst & Young Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. Kocaeli Turkey 50.00% Tooling and parts manufacturing Full Deloitte Gestamp Auto Components (Dongguan), Co. Ltd. Dongguan China 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Try Out Services, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full Ernst & Young Gestión Global de Matricería, S.L. Vizcaya Spain 100.00% Manufacturing of dies Full Ernst & Young Ingeniería y Construcción de Matrices, S.A.U Vizcaya Spain 100.00% Manufacturing of dies Full IZE Auditores IxCxT, S.A. Vizcaya Spain 100.00% Manufacturing of dies Full IZE Auditores Gestamp Puebla II, S.A. de C.V. Puebla Mexico 70.00% Tooling and parts manufacturing Full Ernst & Young Integration method December 31, 2024 % direct ownership % indirect ownership
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146 Company Address Country Activity Auditors Autotech Engineering Deutschland GmbH Bielefeld Germany 100.00% Research and development Full Ernst & Young Autotech Engineering R&D Uk limited Durhan United Kingdom 100.00% Research and development Full Ernst & Young Gestamp Holding México, S.L. Madrid Spain 70.00% Portfolio company Full Ernst & Young Gestamp Finance Mercosur S.L Madrid Spain 40.81% 59.19% Portfolio company Full Ernst & Young Mursolar 21, S.L. Madrid Spain 100.00% Portfolio company Full Ernst & Young GGM Puebla, S.A. de C.V. Puebla Mexico 100.00% Tooling and parts manufacturing Full N/A GGM Puebla Servicios Laborales, S.A. de C.V. Puebla Mexico 100.00% Employment services Full N/A Gestool Tooling Manufacturing (Kunshan), Co., Ltd Kunshan China 100.00% Manufacturing of dies Full Ernst & Young Gestamp Technology Institute, S.L. Vizcaya Spain 99.97% 0.03% Education Full N/A Gestamp Tooling Engineering Deutschland, GmbH Braunschweig. Germany 100.00% Manufacturing of dies Full N/A Gestamp Chattanooga II, Llc Chattanooga USA 100.00% Tooling and parts manufacturing Full N/A Autotech Engineering R&D USA, Inc. Delaware USA 100.00% IT, and research and development Full N/A Gestamp Auto Components Wuhan, co. Ltd. Wuhan China 100.00% Tooling and parts manufacturing Full N/A Çelik Form Gestamp Otomotive, A.S. Bursa Turkey 50.00% Tooling and parts manufacturing Full Deloitte Gestamp Washtenaw, LLc. Delaware USA 100.00% Tooling and parts manufacturing Full N/A Gestamp San Luis Potosí, S.A.P.I. de C.V. México DF Mexico 100.00% Employment services Full Rusell Bedford Gestamp Auto Components (Tianjin) Co., LTD. Tianjin China 51.00% Tooling and parts manufacturing Full Ernst & Young Gestamp 2017, S.L.U. Madrid Spain 100.00% Portfolio company Full N/A Autotech Engineering (Shangai), Co. Ltd. Shangai China 100.00% Research and development Full Ernst & Young Gestamp Hot Stamping Japan Co. Ltd. Tokio Japan 100.00% Tooling and parts manufacturing Full Ernst & Young Global Laser Araba, S.L. Álava Spain 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Beycelik Romania, S.R.L. Darmanesti Romania 50.00% Tooling and parts manufacturing Full Ernst & Young Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S. Bursa Turkey 50.00% Manufacturing of dies Full Deloitte Gestamp Nitra, S.R.O. Bratislava Slovakia 100.00% Tooling and parts manufacturing Full Ernst & Young Almussafes Mantenimiento de Troqueles, S.L. Barcelona Spain 100.00% Die maintenance Full Ernst & Young Gestamp (China) Holding, Co. Ltd Shangai China 100.00% Portfolio company Full Ernst & Young Gestamp Autotech Japan K.K. Tokio Japan 100.00% Research and development Full Ernst & Young Gestamp Sorocaba Industria de Autopeças Ltda. Sorocaba Brazil 70.00% Tooling and parts manufacturing Full Ernst & Young Tuyauto Gestamp Morocco, S.A. Kenitra Morocco 100.00% Tooling and parts manufacturing Full N/A Gestamp Auto Components (Beijing) Co., Ltd. Beijing China 51.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Mexicana Serv. Lab. II, S.A. de CV México DF Mexico 70.00% Employment services Full N/A Reparaciones Industriales Zaldibar, S.L. Vizcaya Spain 99.99% 0.01% Industrial equipment services Full N/A Autotech Engineering Spain, S.L. Madrid Spain 100.00% Research and development Full Ernst & Young Autotech Engineering France, S.A.S. Meudon la Forêt France 100.00% Research and development Full N/A Gestamp Auto Components Sales (Tianjin) Co., LTD. Tianjin China 49.00% Consulting and Post-sales services Equity method N/A Gestamp Etem Automotive Bulgaria, S.A. Sofía Bulgaria 51.00% Industrialization of post-extrusion activities Full N/A Etem Gestamp Aluminium Extrusions, S.A. Sofía Bulgaria 49.00% Tooling and parts manufacturing Equity method N/A Gestamp New Energy Vehicle Components (Beijing) Co., LTD. Beijing China 51.00% Tooling and parts manufacturing Full N/A Gestamp Proyectos Automoción 1, S.L. Madrid Spain 100.00% Tooling and parts manufacturing Full N/A Gestamp Proyectos Automoción 3, S.L. Madrid Spain 99.81% 0.19% Tooling and parts manufacturing Full N/A Gestamp Proyectos Automoción 2, S.L. Madrid Spain 99.98% 0.02% Tooling and parts manufacturing Full N/A Smart Industry Consulting and Technologies, S.L.U Vizcaya Spain 91.00% Research and development Full N/A Changchun Xuyang Gestamp Auto Components Co. Ltd. Chaoyang China 49.00% Consulting and Post-sales services Equity method N/A Gestamp Saint Clair, LLC. Michigan USA 100.00% Parts manufacture Full N/A Gestamp Stanton, LLC. Michigan USA 100.00% Parts manufacture Full N/A Edscha Holding GmbH Remscheid Germany 100.00% Portfolio company Full N/A Edscha Automotive Hengersberg GmbH Hengersberg Germany 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Automotive Hauzenberg GmbH Hauzenberg Germany 100.00% Tooling and parts manufacturing Full Ernst & Young December 31, 2024 % indirect ownership % direct ownership Integration method
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147 Company Address Country Activity Auditors Edscha Engineering GmbH Remscheid Germany 100.00% Research and development Full JKG Treuhand Edscha Hengersberg Real Estate GmbH & Co. KG Hengersberg Germany 5.10% 94.90% Property Full N/A Edscha Hauzenberg Real Estate GmbH & Co. KG Hauzenberg Germany 5.10% 94.90% Property Full N/A Edscha Automotive Kamenice, S.R.O. Kamenice Czech Republic 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Hradec S.R.O. Hradec Czech Republic 100.00% Manufacturing of dies Full Ernst & Young Edscha Velky Meder S.R.O. Velky Meder Slovakia 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp 2008, S.L. Villalonquéjar (Burgos) Spain 100.00% Portfolio company Full Ernst & Young Edscha Burgos, S.A. Villalonquéjar (Burgos) Spain 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Santander, S.A. El Astillero (Cantabria) Spain 5.01% 94.99% Tooling and parts manufacturing Full Ernst & Young Edscha Briey, S.A.S. Briey Cedex France 100.00% Tooling and parts manufacturing Full N/A Edscha Engineering France, S.A.S. Les Ulis France 100.00% Research and development Full N/A Edscha do Brasil, Ltda. Sorocaba Brazil 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Japan Co., Ltd. Tokio Japan 100.00% Sales office Full N/A Jui li Edscha Body Systems Co. Ltd. Kaohsiung Taiwan 60.00% Tooling and parts manufacturing Full Deloitte Jui li Edscha Holding, Co. Ltd. Apia Samoa 60.00% Portfolio company Full N/A Jui Li Edscha Hainan Industry Enterprise Co., Ltd. Hainan China 60.00% Tooling and parts manufacturing Full Guangdong Chenganxin Certified Public Accountant Edscha Automotive Technology (Shangai), Co., Ltd. Shanghai China 100.00% Research and development Full Shangai Hu Gang Jin Mao C.P.A Co.Ltd. Shanghai Edscha Machinery Co. Ltd. Shanghai China 100.00% Tooling and parts manufacturing Full Ernst & Young Anhui Edscha Automotive Parts, Co. Ltd. Anhui China 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Automotive Michigan, Inc. Lapeer USA 100.00% Tooling and parts manufacturing Full N/A Edscha Automotive Components (Kunshan), Co., Ltd. Kunshan China 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Kunststofftechnik GmbH Remscheid Germany 100.00% Tooling and parts manufacturing Full JKG Treuhand Edscha Pha, Ltd. Seul South Korea 50.00% Parts manufacture, research and development Full Deloitte Edscha Aapico Automotive,Co. Ltd Pranakorn Sri Ayutthaya Thailand 51.00% Tooling and parts manufacturing Full Ernst & Young Edscha Automotive SLP, S.A.P.I. de C.V. México DF Mexico 100.00% No activity Full N/A Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. México DF Mexico 100.00% No activity Full N/A Edscha Automotive Components (Chongqing), Co. Ltd. Chongqing China 100.00% Tooling and parts manufacturing Full Anhui Cheng Qin Certified Public Accountants Edscha Pha Automotive Components (Kunshan) Co., Ltd. Kunshan China 50.00% Parts manufacture Full Suzhou Xingyuan Uniting Certified Public Accountants Edscha North America Technologies, Llc. Delaware USA 100.00% Holding/Divisional company Full N/A Edscha Automotive Components (Shanghai), Co., Ltd Shanghai China 100.00% Tooling and parts manufacturing Full Ernst & Young Edscha Mechatronics Solutions, GmbH Remscheid Germany 100.00% Parts manufacture, research and development Full N/A Edscha Aditya Automotive Systems Private Limited Chakan India 50.00% Development and manufacture of parts Full N/A EPL Georgia, LLC Georgia USA 50.00% Tooling and parts manufacturing Full N/A GMF Holding GmbH Bielefeld Germany 100.00% Portfolio company Full Ernst & Young Gestamp Metal Forming (Wuhan), Ltd Wuhan China 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Umformtechnik GmbH Ludwigsfelde Germany 100.00% Tooling and parts manufacturing Full Ernst & Young Automotive Chassis Products, Plc. Newton Aycliffe, Durham United Kingdom 100.00% Portfolio company Full Ernst & Young Sofedit, S.A.S Le Theil sur Huisne France 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Prisma, S.A.S Usine de Messempré France 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Tallent , Ltd Newton Aycliffe, Durham United Kingdom 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Wroclaw Sp.z,o.o. Wroclaw Poland 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Auto components (Chongqing) Co., Ltd. Chongqing China 100.00% Tooling and parts manufacturing Full Ernst & Young Gestamp Wolfsburg, GmbH Ludwigsfelde Germany 100.00% Tooling and parts manufacturing Full N/A Gestamp Leasing USA, LLC Delaware USA 100.00% Services rendered and rents Full N/A Gestamp Tooling USA, INC West Virginia USA 100.00% Manufacturing of dies Full N/A Gestamp Servicios Portugal, Lda Oliveira de Azeméis Portugal 1.00% 99.00% Service provision Full N/A Integration method December 31, 2024 % direct ownership % indirect ownership
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148 The Sideacero Subgroup comprises the companies in the following table. Company Address Country Activity Auditors Sideacero, S.L. Vizcaya Spain 33,34% Treatment, commercialization and distribution of scrap Full N/A Gescrap, S.L. Vizcaya Spain 33,34% Treatment, commercialization and distribution of scrap Full Grant Thornton, S.L.P. Gescrap Centro, S.L. Madrid Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Navarra, S.L. Navarra Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Trading, S.L. Vizcaya Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Polska Sp. Z.o.o. Wrzesnia Poland 33,34% Sale of scrap Full Grant Thornton Polska, P.S.A. Gescrap Servicios Portuarios, S.L. Vizcaya Spain 33,34% Transport Services Full Grant Thornton, S.L.P. Gescrap Desarrollo, S.L. Vizcaya Spain 33,34% Portfolio company Full N/A Industrial Steel Recycling, L.L.C. Kaluga Russia 33,34% Services rendered Recovery sector Full Balance Audit, L.L.C. Gescrap GmbH Ichtershausen Germany 33,34% Sale of scrap Full Grant Thornton AG Wirtschaftsprüfungsgesellschaft Gescrap France, S.A.R.L. Melun France 33,34% Sale of scrap Full Becouze (Crowe Global) Lusoscrap, Lda Valenca Portugal 33,34% Sale of scrap Full Grant Thornton & Associados, SROC, Lda. Gescrap Czech, s.r.o. Louny Czech Republic 33,34% Sale of scrap Full Ing. Jan Harapes Gescrap Autometal Comercio De Sucatas, S.A Sao Paulo Brazil 23,34% Sale of scrap Full Ernst & Young Gescrap Autometal Mexico, S.A. de C.V. Puebla Mexico 23,34% Sale of scrap Full Baker Tilly México Ges Recycling Limited Durham United Kingdom 33,34% Sale of scrap Full Fruition Accountancy LLP Gescrap Hungary, KFT Budapest Hungary 33,34% Sale of scrap Full Focus Audit Kft. Ges Recycling USA, LLC Delaware USA 33,34% Portfolio company Full N/A Ges Trading Nar S.A. de C.V. Puebla Mexico 23,67% Process outsourcing Full Salles Sainz Grant Thornton S.C. Gescrap Noroeste, S.L. Pontevedra Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Transportes Basegar, S.A. Vizcaya Spain 25,01% Transport Services Full Grant Thornton, S.L.P. Gescrap Aragón, S.L. Zaragoza Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Rus, LLC Kaluga Russia 33,31% Sale of scrap Full Balance Audit, L.L.C. Ges Recycling South Carolina, LLC Carolina del Sur USA 33,34% Sale of scrap Full N/A Ges Recycling Alabama, LLC Alabama USA 33,34% Sale of scrap Full N/A Ges Recycling Tennessee, LLC Tennessee USA 33,34% Sale of scrap Full N/A Ges Recycling West Virginia, LLC Carolina del Sur USA 33,34% Sale of scrap Full N/A Gescrap Slovakia, s.r.o. Bratislava Slovakia 33,34% Sale of scrap Full N/A Soluciones de Gestión de Residuos Mexicana, S.A. de C.V. Puebla Mexico 23,37% Process outsourcing Full N/A Ges Recycling Michigan, LLC Michigan USA 33,34% Sale of scrap Full N/A Gescrap Romania, S.R.L. Judet Arges Romania 33,32% Sale of scrap Full N/A Gescrap India Private Limited Maharastra India 23,34% Sale of scrap Full Sreedhar Manikant and Associates Ges Recycling Polska Sp. Z.o.o Wrzesnia Poland 33,34% Sale of scrap Full N/A Gescrap LT, UAB Vilna Lithuania 33,34% Sale of scrap Full N/A Gescrap Morocco, S.R.L. Casablanca Morocco 33,34% Sale of scrap Full N/A Samper-Refeinsa Galicia, S.L. Pontevedra Spain 33,34% Purchase/Sale of scrap Full Grant Thornton, S.L.P. Gescrap Turkey Metal Sanayi ve Ticaret Limited Sirketi Estambul Turkey 16,67% Purchase/Sale of scrap Full N/A Gescrap Slovenia d.o.o. Ljubljana Slovenia 33,34% Purchase/Sale of scrap Full N/A Gescrap Bulgaria, EOOD Sofia Bulgaria 33,34% Purchase/Sale of scrap Full N/A Gescrap Recycling S XXI Sestao Spain 33,34% Purchase/Sale of scrap Full N/A Recuperaciones Medioambientales Industriales, S.L. Vizcaya Spain 33,34% Treatment, commercialization and distribution of scrap Full Grant Thornton, S.L.P. Recuperaciones Férricas Integrales, S.A. Vizcaya Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Gescrap Catalunya, S.L. Barcelona Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Refeinsa Navarra, S.L. Navarra Spain 33,34% Sale of scrap Full N/A December 31, 2024 % direct ownership % indirect ownership Integration method
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149 Company Address Country Activity Auditors Refeinsa Centro, S.L. Madrid Spain 33,34% Sale of scrap Full N/A Reimasa Recycling, S.L. Vizcaya Spain 33,34% Sale of scrap Full Grant Thornton, S.L.P. Flycorp, S.L. Vizcaya Spain 33,34% No activity Full N/A Recuperaciones Férricas Asturianas, S.L. Asturias Spain 16,67% Sale of scrap Full Grant Thornton, S.L.P. Car Recycling, S.L. Vizcaya Spain 16,67% Sale of scrap Equity method N/A Beta Steel, S.L. Toledo Spain 23,34% Purchase/Sale of scrap Equity method N/A DJC Recyclage Le Haillen France 16,67% Purchase/Sale of scrap Equity method N/A Centre Recuperation Libournais Libournais France 16,67% Purchase/Sale of scrap Equity method N/A December 31, 2024 % direct ownership % indirect ownership Integration method
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150 Appendix II Indirect investments at 31 December 2025 Company Company holding the indirect interest % Interest Gestamp Vigo, S.A. Gestamp Servicios, S.A. 0.01% Gestamp Toledo, S.A. Gestamp Servicios, S.A. 0.01% Gestamp Brasil Industria de Autopeças, S.A. Gestamp Servicios, S.A. 41.76% Gestamp Ingeniería Europa Sur, S.L. Gestamp Servicios, S.A. 0.04% Gestamp Esmar, S.A. Gestamp Servicios, S.A. 99.90% Gestamp Bizkaia, S.A. Gestamp Servicios, S.A. 14.69% Gestamp Kartek Co., LTD Gestamp Servicios, S.A. 100.00% Gestamp Services India Private, Ltd. Gestamp Servicios, S.A. 1.01% Beyçelik Gestamp Otomotive Sanayi, A.S. Gestamp Servicios, S.A. 50.00% Gestamp Holding México, S.L. Gestamp Servicios, S.A. 69.85% Gestamp Holding Rusia, S.L. Gestamp Servicios, S.A. 7.66% Gestamp Proyectos Automoción 2, S.L. Gestamp Servicios, S.A. 0.02% Gestamp Proyectos Automoción 3, S.L. Gestamp Servicios, S.A. 0.19% Gestamp North America, INC Gestamp Servicios, S.A. 11.29% Gestamp Sweden, AB Gestamp Servicios, S.A. 5.48% Gestamp Servicios Portugal, Lda Gestamp Servicios, S.A. 99.00% Gestamp Cerveira, Lda. Gestamp Vigo, S.A. 60.63% Gestamp Noury, S.A.S Gestamp Vigo, S.A. 100.00% Gestamp Real Estate investment 2, S.L. Gestamp Vigo, S.A. 3.76% Gestamp Louny, S.R.O. Gestamp Cerveira, Lda. 97.99% Gestamp Aveiro - Indústria De Acessórios De Automóveis, S.A. Gestamp Cerveira, Lda. 45.66% Gestamp Pune Automotive, Private Ltd. Gestamp Cerveira, Lda. 100.00% Autotech Engineering S.L. Gestamp Bizkaia, S.A. 90.00% Gestamp Sweden, AB Gestamp Bizkaia, S.A. 1.00% Gestamp North Europe Services, S.L. Gestamp Bizkaia, S.A. 0.03% Autotech Engineering Deutschland GmbH Gestamp Bizkaia, S.A. 55.00% Autotech Engineering R&D Uk limited Gestamp Bizkaia, S.A. 55.00% Gestamp Technology Institute, S.L. Gestamp Bizkaia, S.A. 0.03% Gestamp Global Tooling, S.L. Gestamp Bizkaia, S.A. 0.01% Autotech Engineering R&D USA, Inc. Gestamp Bizkaia, S.A. 55.00% Autotech Engineering (Shangai), Co. Ltd. Gestamp Bizkaia, S.A. 55.00% Gestamp Autotech Japan K.K. Gestamp Bizkaia, S.A. 55.00% Autotech Engineering Spain, S.L. Gestamp Bizkaia, S.A. 0.01% Autotech Engineering France, S.A.S. Gestamp Bizkaia, S.A. 55.00% Reparaciones Industriales Zaldibar, S.L. Gestamp Bizkaia, S.A. 0.01% Gestamp Real Estate Bizkaia, S.L Gestamp Bizkaia, S.A. 48.11% Gestamp Levante, S.A. Gestamp Linares, S.A. 11.50% Gestamp Real Estate Management 3, S.L. Gestamp Linares, S.A. 16.40% Gestamp Hardtech, AB Gestamp Sweden, AB 100.00% Gestamp Holding China, AB Gestamp HardTech, AB 68.94% SCI De Tournan Sur Gestamp Noury, S.A.S 99.90% Gestamp Linares, S.A. Gestamp Toledo, S.A. 94.98% Gestamp Real Estate Investment 2, S.L Gestamp Toledo, S.A. 43.49% Gestamp Finance Mercosur, S.L. Gestamp Toledo, S.A. 43.53% Gestamp Aveiro - Indústria De Acessórios De Automóveis, S.A. Gestamp Palencia, S.A. 54.34% Gestamp Tech, S.L. Gestamp Palencia, S.A. 99.67% Gestamp Finance Mercosur, S.L. Gestamp Palencia, S.A. 15.66% Gestamp Holding México, S.L. Gestamp Palencia, S.A. 0.15% Tuyauto Gestamp Morocco, S.A. Gestamp Palencia, S.A. 100.00% Gestamp North America, INC Gestamp Palencia, S.A. 11.29% Gestamp Ronchamp, S.A.S Gestamp Palencia, S.A. 100.00% Gestamp Real Estate Assets 1, S.L. Gestamp Palencia, S.A. 15.19% Gestamp Auto Components (Beijing) Co., Ltd. Gestamp Auto Components (Tianjin) Co., LTD. 100.00% Gestamp Córdoba, S.A. Gestamp Argentina, S.A. 4.86% Mursolar 21, S.L. Gestamp Aragón, S.A. 16.92% Gestamp Real Estate Assets 1, S.L. Gestamp Aragón, S.A. 5.80% Gestamp North America, INC Gestamp Aveiro - Indústria De Acessórios De Automóveis, S.A. 5.80% Gestamp Navarra, S.A. Gestamp Metalbages, S.A. 28.63% Ingeniería Global Metalbages, S.A. Gestamp Metalbages, S.A. 100.00% Gestamp Aragón, S.A. Gestamp Metalbages, S.A. 94.99% Gestamp Abrera, S.A. Gestamp Metalbages, S.A. 94.99% Automated Joining Solutions, S.L. Gestamp Metalbages, S.A. 100.00% Gestamp Polska SP. Z.O.O. Gestamp Metalbages, S.A. 100.00% Gestamp Ingeniería Europa Sur, S.L. Gestamp Metalbages, S.A. 99.96% Gestamp Manufacturing Autochasis, S.L. Gestamp Metalbages, S.A. 94.99% Gestamp Griwe Westerburg GmbH Gestamp Metalbages, S.A. 100.00% Edscha Holding Gmbh Gestamp Metalbages, S.A. 67.00% Gestamp Palau, S.A. Gestamp Metalbages, S.A. 60.00% Gmf Holding GmbH Gestamp Metalbages, S.A. 100.00% Gestamp Real Estate Assets1, S.L. Gestamp Metalbages, S.A. 5.820% Gestamp Services India Private, Ltd. Gestamp Levante, S.A. 98.990% Gestamp Holding Rusia, S.L. Gestamp Levante, S.A. 7.810% Gestamp Real Estate Assets 1, S.L. Gestamp Levante, S.A. 11.130% Mursolar 21, S.L. Gestamp Navarra, S.A. 63.54% Gestamp Real Estate Assets 1, S.L. Gestamp Navarra, S.A. 11.29% 31/12/2025
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151 Company Company holding the indirect interest % Interest Gestamp Severstal Vsevolozhsk Llc Todlem, S.L. 100.00% Gestamp Severstal Kaluga, Llc Todlem, S.L. 100.00% Gestamp Aguascalientes, S.A.De C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Puebla, S.A. De C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp San Luis de Potosí II, S.A. De C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Toluca, S.A. de C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Puebla II, S.A. de C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp San Luis Potosí, S.A.P.I. de C.V. Gestamp Cartera de México, S.A. de C.V. 0.005% Gestamp Mexicana Serv. Lab. II, S.A. de CV Gestamp Cartera de México, S.A. de C.V. 99.99% Gestamp Saltillo, S.A. de C.V. Gestamp Cartera de México, S.A. de C.V. 99.99% Gestamp Saltillo, S.A. de C.V. Gestamp Puebla II, S.A. de C.V. 0.01% Gestamp Córdoba, S.A. Gestamp Brasil Industria de Autopeças, S.A. 1.94% Gestamp Baires, S.A. Gestamp Brasil Industria de Autopeças, S.A. 1.54% Gestamp Holding Rusia, S.L. Gestamp Abrera, S.A. 5.64% Gestamp Solblank Barcelona, S.A. Gestamp Abrera, S.A. 94.99% Gestamp Real Estate Management 3, S.L. Gestamp Abrera, S.A. 19.53% Gestamp Etem Automotive Bulgaria, S.A. Gestamp North Europe Services, S.L. 51.00% Etem Gestamp Aluminium Extrusions, S.A. Gestamp North Europe Services, S.L. 49.00% Gestamp Holding Rusia, S.L. Gestamp Polska SP. Z.O.O. 24.56% Edscha Holding Gmbh Gestamp Polska SP. Z.O.O. 33.00% Gestamp Automotive India Private Ltd. Gestamp Polska SP. Z.O.O. 50.00% Gestamp Automotive Chennai Private Ltd. Gestamp Solblank Barcelona, S.A. 100.00% Gestamp Holding Rusia, S.L. Gestamp Solblank Barcelona, S.A. 6.67% Gestamp Real Estate Investment 2, S.L. Gestamp Solblank Barcelona, S.A. 8.99% Gestamp Chattanooga, Llc Gestamp North America, INC 100.00% Gestamp Mason, Llc. Gestamp North America, INC 100.00% Gestamp Alabama, Llc. Gestamp North America, INC 100.00% Gestamp West Virginia, Llc. Gestamp North America, INC 100.00% Gestamp South Carolina, Llc Gestamp North America, INC 100.00% Gestamp Washtenaw, LLC. Gestamp North America, INC 100.00% Gestamp San Luis Potosí, S.A.P.I. De C.V. Gestamp North America, INC 99.99% Gestamp Chattanooga II, Llc Gestamp North America, INC 100.00% Gestamp Saint Clair, LLC. Gestamp North America, INC 100.00% Gestamp Stanton, LLC. Gestamp North America, INC 100.00% Todlem, S.L. Gestamp Holding Rusia, S.L. 74.98% Gestamp Auto Components (Kunshan) Co., Ltd Gestamp Holding China, AB 100.00% Gestamp Real Estate Management 3, S.L. Gestamp Esmar, S.A. 5.00% Mursolar 21, S.L. Gestamp Griwe Westerburg GmbH 19.54% Gestamp Griwe Haynrode GmbH Gestamp Griwe Westerburg GmbH 100.00% Gestamp Louny, S.R.O. Gestamp Griwe Westerburg GmbH 2.01% Gestamp Palau, S.A. Gestamp Manufacturing Autochasis, S.L. 40.00% Almussafes Mantenimiento De Troqueles, S.L. Gestamp Palau, S.A. 100.00% Gestamp Try Out Services, S.L. Gestamp Global Tooling, S.L. 100.00% Adral, Matriceria Y Pta. A Punto, S.L. Gestamp Global Tooling, S.L. 100.00% Gestamp Tool Hardening, S.L. Gestamp Global Tooling, S.L. 100.00% Gestamp Tooling USA, INC Gestamp Global Tooling, S.L. 100.00% Gestamp Tooling Engineering Deutschland, Gmbh Gestamp Global Tooling, S.L. 100.00% Gestamp Real Estate Bizkaia, S.L. Gestamp Global Tooling, S.L. 10.20% Gestamp Argentina, S.A. Gestamp Finance Mercosur, S.L. 97.00% Gestamp Córdoba, S.A. Gestamp Finance Mercosur, S.L. 23.51% Gestamp Baires, S.A. Gestamp Finance Mercosur, S.L. 21.42% Gestamp Córdoba, S.A. Gestamp Baires, S.A. 31.15% Autotech Engineering Deutschland GmbH Autotech Engineering S.L. 45.00% Autotech Engineering (Shangai), Co. Ltd. Autotech Engineering S.L. 45.00% Gestamp Autotech Japan K.K. Autotech Engineering S.L. 45.00% Autotech Engineering Spain, S.L. Autotech Engineering S.L. 99.99% Autotech Engineering France, S.A.S. Autotech Engineering S.L. 45.00% Autotech Engineering R&D Uk limited Autotech Engineering S.L. 45.00% Autotech Engineering R&D USA, Inc. Autotech Engineering S.L. 45.00% Gestamp Tooling Erandio, S.L. Gestamp Tool Hardening, S.L. 20.00% Gestamp Cartera De México, S.A. De C.V. Gestamp Holding México, S.L. 100.00% Gestamp Brasil Industria de Autopeças, S.A. Gestamp Holding México, S.L. 40.33% Gestamp Argentina, S.A. Gestamp Holding México, S.L. 3.00% Gestamp Hot Stamping Japan Co. Ltd. Gestamp Kartek Co., LTD 65.91% Gestamp San Luis Potosí, S.A.P.I. de C.V. Gestamp Puebla, S.A. De C.V. 0.01% Gestamp Mexicana Serv. Lab. II, S.A. de CV Gestamp Puebla, S.A. De C.V. 0.01% Loire USA, Inc. Loire Sociedad Anónima Franco Española 100.00% Gestamp Tooling Erandio, S.L. Loire Sociedad Anónima Franco Española 80.00% Gestamp Real Estate Bizkaia, S.L. Loire Sociedad Anónima Franco Española 6.34% Gestamp Auto Components (Tianjin) Co., Ltd. Gestamp (China) Holding, Co. Ltd 51.00% Gestamp Metal Forming (Wuhan), Ltd Gestamp (China) Holding, Co. Ltd 100.00% Gestamp Auto Components (Chongqing) Co., Ltd. Gestamp (China) Holding, Co. Ltd 100.00% Changchun Xuyang Gestamp Auto Components Co. Ltd. Gestamp (China) Holding, Co. Ltd 49.00% Gestamp Auto Components Sales (Tianjin) Co., Ltd. Gestamp (China) Holding, Co. Ltd 49.00% Ingeniería Y Construcción De Matrices, S.A.U Gestión Global de Matricería, S.L. 100.00% IxCxT, S.A. Gestión Global de Matricería, S.L. 100.00% GGM Puebla, S.A. de C.V. Gestión Global de Matricería, S.L. 99.99% GGM Puebla Servicios Laborales, S.A. De C.V. Gestión Global de Matricería, S.L. 99.99% Gestool Tooling Manufacturing (Kunshan), Co., Ltd Gestión Global de Matricería, S.L. 100.00% GGM Puebla, S.A. de C.V. IxCxT, S.A. 0.01% GGM Puebla Servicios Laborales, S.A. De C.V. IxCxT, S.A. 0.01%
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152 Company Company holding the indirect interest % Interest Gestamp Real Estate Investment 2, S.L. Autotech Engineering Spain, S.L. 5.06% Gestamp Real Estate Bizkaia, S.L. Ingenieria y Construcción de Matrices, S.A. 2.83% Gestamp Real Estate Bizkaia, S.L. Adral Matricería y puesta a punto, S.L. 4.43% Gestamp Auto Components (Shenyang), Co. Ltd. Mursolar 21, S.L. 100.00% Gestamp Auto Components (Dongguan), Co. Ltd. Mursolar 21, S.L. 100.00% Çelik Form Gestamp Otomotive, A.S. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Gestamp Beycelik Romania, S.R.L. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Edscha Automotive Hengersberg GmbH Edscha Holding GmbH 100.00% Edscha Automotive Hauzenberg GmbH Edscha Holding GmbH 100.00% Edscha Engineering GmbH Edscha Holding GmbH 100.00% Edscha Automotive Technology (Shangai), Co., Ltd. Edscha Holding GmbH 100.00% Gestamp 2008, S.L. Edscha Holding GmbH 100.00% Anhui Edscha Automotive parts, Co. Ltd. Edscha Holding GmbH 100.00% Edscha Hradec S.R.O. Edscha Holding GmbH 100.00% Edscha Japan Co., Ltd. Edscha Holding GmbH 100.00% Edscha Burgos, S.A. Edscha Holding GmbH 0.01% Edscha Velky Meder S.R.O. Edscha Holding GmbH 100.00% Edscha Automotive Kamenice, S.R.O. Edscha Holding GmbH 100.00% Edscha Engineering France, S.A.S. Edscha Holding GmbH 100.00% Edscha Hengersberg Real Estate Gmbh & Co. Kg Edscha Holding GmbH 94.90% Edscha Hauzenberg Real Estate Gmbh & Co. Kg Edscha Holding GmbH 94.90% Shanghai Edscha Machinery Co. Ltd. Edscha Holding GmbH 55.00% Edscha Automotive Michigan, Inc. Edscha Holding GmbH 100.00% Edscha Automotive Components (Kunshan), Co., Ltd. Edscha Holding GmbH 100.00% Edscha Kunststofftechnik GmbH Edscha Holding GmbH 100.00% Edscha Pha, Ltd. Edscha Holding GmbH 50.00% Edscha Automotive SLP, S.A.P.I. de C.V. Edscha Holding GmbH 99.99% Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. Edscha Holding GmbH 99.99% Edscha Automotive Components (Chongqing), Co. Ltd. Edscha Holding GmbH 100.00% Jui li Edscha Body Systems Co. Ltd. Edscha Holding GmbH 60.00% Edscha Aapico Automotive,Co. Ltd Edscha Holding GmbH 50.99% Edscha Mechatronics Solutions, Gmbh Edscha Holding GmbH 100.00% Edscha Aditya Automotive Systems Private Limited Edscha Holding GmbH 50.00% Edscha Pha Automotive Components (Kunshan) Co., Ltd. Edscha Pha, Ltd. 100.00% EPL Georgia, LLC Edscha Pha, Ltd. 100.00% Edscha North America Technologies, Llc. Edscha Automotive Michigan, Inc. 100.00% Gestamp Leasing USA, LLC Edscha Automotive Michigan, Inc. 100.00% Edscha Automotive Components (Shanghai), Co., Ltd Shanghai Edscha Machinery Co. Ltd. 100.00% Jui li Edscha Holding, Co. Ltd. Jui li Edscha Body Systems Co. Ltd. 100.00% Jui Li Edscha Hainan Industry Enterprise Co., Ltd. Jui li Edscha Holding, Co. Ltd. 100.00% Edscha do Brasil, Ltda. Edscha Engineering GmbH 74.06% Edscha Automotive SLP, S.A.P.I. de C.V. Edscha Engineering GmbH 0.01% Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. Edscha Engineering GmbH 0.01% Edscha Aapico Automotive,Co. Ltd Edscha Engineering GmbH 0.01% Edscha Santander, S.A. Gestamp 2008, S.L. 94.99% Edscha Burgos, S.A. Gestamp 2008, S.L. 99.99% Shanghai Edscha Machinery Co. Ltd. Anhui Edscha Automotive Parts, Co. Ltd. 45.00% Edscha Briey, S.A.S. Edscha Santander, S.A. 100.00% Edscha do Brasil, Ltda. Edscha Santander, S.A. 25.94% Edscha Mecatrónica Mexico, S.A. de C.V. Edscha Santander, S.A. 99.99% Gestamp Real Estate Management 3, S.L. Edscha Santander, S.A. 13.88% Gestamp Real Estate Investment 2, S.L. Edscha Burgos, S.A. 10.28% Edscha Mecatrónica Mexico, S.A. de C.V. Edscha Burgos, S.A. 0.01% Gestamp Umformtechnik GmbH GMF Holding GmbH 100.00% Automotive Chassis Products, Plc. GMF Holding GmbH 100.00% Sofedit, S.A.S GMF Holding GmbH 100.00% Gestamp (China) Holding, Co. Ltd GMF Holding GmbH 100.00% Gestamp Prisma, S.A.S GMF Holding GmbH 100.00% Gestamp Wolfsburg, Gmbh GMF Holding GmbH 100.00% Gestamp Tallent , Ltd Automotive Chassis Products, Plc. 100.00% Gestamp Wroclaw Sp.Z,O.O. Sofedit, S.A.S 100.00% Gestamp Hot Stamping Japan Co. Ltd. Gestamp Tallent , Ltd 34.09% Gestamp Sweden, AB Gestamp Tallent , Ltd 0.37%
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153 Company Company holding the indirect interest % Interest Gescrap, S.L. Sideacero, S.L. 100.00% Gescrap Recycling S XXI Sideacero, S.L. 100.00% Gescrap Polska Sp. Z.O.O. Gescrap, S.L. 100.00% Industrial Steel Recycling, L.L.C. Gescrap, S.L. 0.25% Gescrap Czech, s.r.o. Gescrap, S.L. 30.00% Gescrap Romania, S.R.L. Gescrap, S.L. 99.93% Refeinsa Navarra, S.L. Gescrap, S.L. 100.00% Refeinsa Centro, S.L. Gescrap, S.L. 100.00% Car Recycling, S.L. Gescrap, S.L. 50.00% Ges Recycling Polska Sp. Z.O.O Gescrap, S.L. 100.00% Industrial Steel Recycling, L.L.C. Gescrap, S.L. 99.75% Gescrap GmbH Gescrap, S.L. 100.00% Gescrap France, S.A.R.L. Gescrap, S.L. 100.00% Gescrap Czech, s.r.o. Gescrap, S.L. 70.00% Gescrap Autometal Comercio De Sucatas, S.A Gescrap, S.L. 70.00% Gescrap Autometal Mexico, S.A. de C.V. Gescrap, S.L. 70.00% Ges Recycling Limited Gescrap, S.L. 100.00% Gescrap Hungary, KFT Gescrap, S.L. 100.00% Ges Recycling USA, LLC Gescrap, S.L. 100.00% Ges Trading Nar S.A. de C.V. Gescrap, S.L. 70.99% Gescrap Bulgaria, EOOD Gescrap, S.L. 100.00% Gescrap Slovakia, s.r.o. Gescrap, S.L. 100.00% Soluciones De Gestión De Residuos Mexicana, S.A. De C.V. Gescrap, S.L. 0.30% Gescrap India Private Limited Gescrap, S.L. 70.00% Gescrap LT, UAB Gescrap, S.L. 100.00% Gescrap Morocco, S.R.L. Gescrap, S.L. 100.00% Gescrap Turkey Metal Sanayi ve Ticaret Limited Sirketi Gescrap, S.L. 50.00% Beta Steel, S.L. Gescrap, S.L. 70.00% Gescrap Slovenia d.o.o. Gescrap, S.L. 100.00% DJC Recyclage Gescrap, S.L. 50.00% Soluciones De Gestión De Residuos Mexicana, S.A. De C.V. Gescrap Autometal Mexico, S.A. de C.V. 99.70% Ges Recycling South Carolina, LLC Ges Recycling USA, LLC 100.00% Ges Recycling Alabama, LLC Ges Recycling USA, LLC 100.00% Ges Recycling Tennessee, Llc Ges Recycling USA, LLC 100.00% Ges Recycling West Virginia, LLC Ges Recycling USA, LLC 100.00% Ges Recycling Michigan, Llc Ges Recycling USA, LLC 100.00% Gescrap Centro, S.L. Gescrap Recycling S XXI 100.00% Gescrap Navarra, S.L. Gescrap Recycling S XXI 100.00% Gescrap Trading, S.L. Gescrap Recycling S XXI 100.00% Gescrap Servicios Portuarios, S.L. Gescrap Recycling S XXI 100.00% Lusoscrap, Lda Gescrap Recycling S XXI 100.00% Gescrap Noroeste, S.L. Gescrap Recycling S XXI 100.00% Transportes Basegar, S.A. Gescrap Recycling S XXI 75.00% Gescrap Aragón, S.L. Gescrap Recycling S XXI 100.00% Samper-Refeinsa Galicia, S.L. Gescrap Recycling S XXI 100.00% Gescrap Catalunya, S.L. Gescrap Recycling S XXI 100.00% Reimasa Recycling, S.L. Gescrap Recycling S XXI 100.00% Recuperaciones Férricas Asturianas, S.L. Gescrap Recycling S XXI 50.00% Recuperaciones Medioambientales Industriales, S.L. Gescrap Recycling S XXI 100.00% Industrias López Soriano S.L. Gescrap Recycling S XXI 100.00% Industrias López Servicios Administrativos, S.L. Cortes y Aplanaciones S.A. 5.00% Cortes y Aplanaciones S.A. Industrias López Soriano, S.L. 100.00% ILSACER 2000 S.L.U. Industrias López Soriano, S.L. 100.00% ILSSA Servicios de Mantenimiento S.L.U. Industrias López Soriano, S.L. 100.00% Industrias López División de transportes S.A.U. Industrias López Soriano, S.L. 100.00% Industrias López Servicios Administrativos, S.L. Industrias López Soriano, S.L. 95.00% Reciclaje Aragones de Aparatos Eléctricos y Electrónicos, S.L.U. Industrias López Soriano, S.L. 100.00% Recieder, S.L. Industrias López Soriano, S.L. 99.00% Valorización del Automóvil BCL, S.LU. Industrias López Soriano, S.L. 50.00% Valorización del Automóvil CT, S.L.U. Industrias López Soriano, S.L. 100.00% Valorización del Automóvil, S.L.U. Industrias López Soriano, S.L. 100.00%
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154 Indirect investments at 31 December 2024 Company Company holding the indirect interest % Interest Gestamp Vigo, S.A. Gestamp Servicios, S.A. 0.01% Gestamp Toledo, S.A. Gestamp Servicios, S.A. 0.01% Gestamp Brasil Industria de Autopeças, S.A. Gestamp Servicios, S.A. 41.76% Gestamp Ingeniería Europa Sur, S.L. Gestamp Servicios, S.A. 0.04% Gestamp Esmar, S.A. Gestamp Servicios, S.A. 99.90% Gestamp Bizkaia, S.A. Gestamp Servicios, S.A. 14.69% Gestamp Kartek Co., LTD Gestamp Servicios, S.A. 100.00% Gestamp Services India Private, Ltd. Gestamp Servicios, S.A. 1.01% Beyçelik Gestamp Otomotive Sanayi, A.S. Gestamp Servicios, S.A. 50.00% Gestamp Holding México, S.L. Gestamp Servicios, S.A. 69.85% Gestamp Holding Rusia, S.L. Gestamp Servicios, S.A. 7.66% Gestamp Proyectos Automoción 2, S.L. Gestamp Servicios, S.A. 0.02% Gestamp Proyectos Automoción 3, S.L. Gestamp Servicios, S.A. 0.19% Gestamp North America, INC Gestamp Servicios, S.A. 11.29% Gestamp Sweden, AB Gestamp Servicios, S.A. 5.48% Gestamp Servicios Portugal, Lda Gestamp Servicios, S.A. 99.00% Gestamp Cerveira, Lda. Gestamp Vigo, S.A. 60.63% Gestamp Noury, S.A.S Gestamp Vigo, S.A. 100.00% Gestamp Louny, S.R.O. Gestamp Cerveira, Lda. 52.72% Gestamp Aveiro - Indústria De Acessórios De Automóveis, S.A. Gestamp Cerveira, Lda. 45.66% Gestamp Pune Automotive, Private Ltd. Gestamp Cerveira, Lda. 100.00% Autotech Engineering S.L. Gestamp Bizkaia, S.A. 90.00% Gestamp Sweden, AB Gestamp Bizkaia, S.A. 1.00% Gestamp North Europe Services, S.L. Gestamp Bizkaia, S.A. 0.03% Autotech Engineering Deutschland GmbH Gestamp Bizkaia, S.A. 55.00% Autotech Engineering R&D Uk limited Gestamp Bizkaia, S.A. 55.00% Gestamp Technology Institute, S.L. Gestamp Bizkaia, S.A. 0.03% Gestamp Global Tooling, S.L. Gestamp Bizkaia, S.A. 0.01% Autotech Engineering R&D USA, Inc. Gestamp Bizkaia, S.A. 55.00% Autotech Engineering (Shangai), Co. Ltd. Gestamp Bizkaia, S.A. 55.00% Gestamp Autotech Japan K.K. Gestamp Bizkaia, S.A. 55.00% Autotech Engineering Spain, S.L. Gestamp Bizkaia, S.A. 0.01% Autotech Engineering France, S.A.S. Gestamp Bizkaia, S.A. 55.00% Reparaciones Industriales Zaldibar, S.L. Gestamp Bizkaia, S.A. 0.01% Gestamp Tooling Services, AIE Gestamp Bizkaia, S.A. 40.00% Gestamp Levante, S.A. Gestamp Linares, S.A. 11.50% Gestamp Hardtech, AB Gestamp Sweden, AB 100.00% Gestamp Holding China, AB Gestamp HardTech, AB 68.94% SCI De Tournan Sur Gestamp Noury, S.A.S 99.90% Gestamp Linares, S.A. Gestamp Toledo, S.A. 94.98% Gestamp Finance Mercosur, S.L. Gestamp Toledo, S.A. 43.53% Gestamp Aveiro - Indústria De Acessórios De Automóveis, S.A. Gestamp Palencia, S.A. 54.34% Gestamp Tech, S.L. Gestamp Palencia, S.A. 99.67% Gestamp Finance Mercosur, S.L. Gestamp Palencia, S.A. 15.66% Gestamp Holding México, S.L. Gestamp Palencia, S.A. 0.15% Tuyauto Gestamp Morocco, S.A. Gestamp Palencia, S.A. 100.00% Gestamp North America, INC Gestamp Palencia, S.A. 11.29% Gestamp Ronchamp, S.A.S Gestamp Palencia, S.A. 100.00% Gestamp Auto Components (Beijing) Co., Ltd. Gestamp Auto Components (Tianjin) Co., LTD. 100.00% Gestamp New Energy Vehicle Components (Beijing) Co., LTD. Gestamp Auto Components (Tianjin) Co., LTD. 100.00% Gestamp Córdoba, S.A. Gestamp Argentina, S.A. 4.86% Mursolar 21, S.L. Gestamp Aragón, S.A. 16.92% Gestamp North America, INC Gestamp Aveiro - Indústria De Acessórios De Automóveis, S.A. 5.80% Gestamp Navarra, S.A. Gestamp Metalbages, S.A. 28.63% Ingeniería Global Metalbages, S.A. Gestamp Metalbages, S.A. 100.00% Gestamp Aragón, S.A. Gestamp Metalbages, S.A. 94.99% Gestamp Abrera, S.A. Gestamp Metalbages, S.A. 94.99% Automated Joining Solutions, S.L. Gestamp Metalbages, S.A. 100.00% Gestamp Polska SP. Z.O.O. Gestamp Metalbages, S.A. 100.00% Gestamp Ingeniería Europa Sur, S.L. Gestamp Metalbages, S.A. 99.96% Gestamp Manufacturing Autochasis, S.L. Gestamp Metalbages, S.A. 94.99% Gestamp Griwe Westerburg GmbH Gestamp Metalbages, S.A. 100.00% Edscha Holding Gmbh Gestamp Metalbages, S.A. 67.00% Gestamp Palau, S.A. Gestamp Metalbages, S.A. 60.00% Gmf Holding GmbH Gestamp Metalbages, S.A. 100.00% Gestamp Services India Private, Ltd. Gestamp Levante, S.A. 98.990% Gestamp Holding Rusia, S.L. Gestamp Levante, S.A. 7.810% Mursolar 21, S.L. Gestamp Navarra, S.A. 63.54% Gestamp Severstal Vsevolozhsk Llc Todlem, S.L. 100.00% Gestamp Severstal Kaluga, Llc Todlem, S.L. 100.00% Gestamp Aguascalientes, S.A.De C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Puebla, S.A. De C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Mexicana De Serv. Laborales, S.A. De C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Toluca, S.A. de C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp Puebla II, S.A. de C.V. Gestamp Cartera de México, S.A. de C.V. 100.00% Gestamp San Luis Potosí, S.A.P.I. de C.V. Gestamp Cartera de México, S.A. de C.V. 0.005% Gestamp Mexicana Serv. Lab. II, S.A. de CV Gestamp Cartera de México, S.A. de C.V. 99.99% 31/12/2024
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155 Company Company holding the indirect interest % Interest Gestamp Córdoba, S.A. Gestamp Brasil Industria de Autopeças, S.A. 1.94% Gestamp Sorocaba Industria de Autopeças Ltda. Gestamp Brasil Industria de Autopeças, S.A. 100.00% Gestamp Baires, S.A. Gestamp Brasil Industria de Autopeças, S.A. 1.54% Gestamp Holding Rusia, S.L. Gestamp Abrera, S.A. 5.64% Gestamp Solblank Barcelona, S.A. Gestamp Abrera, S.A. 94.99% Gestamp Etem Automotive Bulgaria, S.A. Gestamp North Europe Services, S.L. 51.00% Etem Gestamp Aluminium Extrusions, S.A. Gestamp North Europe Services, S.L. 49.00% Gestamp Holding Rusia, S.L. Gestamp Polska SP. Z.O.O. 24.56% Edscha Holding Gmbh Gestamp Polska SP. Z.O.O. 33.00% Gestamp Automotive India Private Ltd. Gestamp Polska SP. Z.O.O. 50.00% Gestamp Automotive Chennai Private Ltd. Gestamp Solblank Barcelona, S.A. 100.00% Gestamp Holding Rusia, S.L. Gestamp Solblank Barcelona, S.A. 6.67% Gestamp Chattanooga, Llc Gestamp North America, INC 100.00% Gestamp Mason, Llc. Gestamp North America, INC 100.00% Gestamp Alabama, Llc. Gestamp North America, INC 100.00% Gestamp West Virginia, Llc. Gestamp North America, INC 100.00% Gestamp South Carolina, Llc Gestamp North America, INC 100.00% Gestamp Washtenaw, LLC. Gestamp North America, INC 100.00% Gestamp San Luis Potosí, S.A.P.I. De C.V. Gestamp North America, INC 99.99% Gestamp Chattanooga II, Llc Gestamp North America, INC 100.00% Gestamp Saint Clair, LLC. Gestamp North America, INC 100.00% Gestamp Stanton, LLC. Gestamp North America, INC 100.00% Todlem, S.L. Gestamp Holding Rusia, S.L. 74.98% Gestamp Auto Components (Kunshan) Co., Ltd Gestamp Holding China, AB 100.00% Industrias Tamer, S.A. Gestamp Esmar, S.A. 43.00% Mursolar 21, S.L. Gestamp Griwe Westerburg GmbH 19.54% Gestamp Griwe Haynrode GmbH Gestamp Griwe Westerburg GmbH 100.00% Gestamp Louny, S.R.O. Gestamp Griwe Westerburg GmbH 47.28% Gestamp Palau, S.A. Gestamp Manufacturing Autochasis, S.L. 40.00% Almussafes Mantenimiento De Troqueles, S.L. Gestamp Palau, S.A. 100.00% Gestamp Try Out Services, S.L. Gestamp Global Tooling, S.L. 100.00% Gestamp Tooling Services, AIE Gestamp Global Tooling, S.L. 60.00% Adral, Matriceria Y Pta. A Punto, S.L. Gestamp Global Tooling, S.L. 100.00% Gestamp Tool Hardening, S.L. Gestamp Global Tooling, S.L. 100.00% Gestamp Tooling USA, INC Gestamp Global Tooling, S.L. 100.00% Gestamp Tooling Engineering Deutschland, Gmbh Gestamp Global Tooling, S.L. 100.00% Gestamp Argentina, S.A. Gestamp Finance Mercosur, S.L. 97.00% Gestamp Córdoba, S.A. Gestamp Finance Mercosur, S.L. 23.51% Gestamp Baires, S.A. Gestamp Finance Mercosur, S.L. 21.42% Gestamp Córdoba, S.A. Gestamp Baires, S.A. 31.15% Autotech Engineering Deutschland GmbH Autotech Engineering S.L. 45.00% Autotech Engineering (Shangai), Co. Ltd. Autotech Engineering S.L. 45.00% Gestamp Autotech Japan K.K. Autotech Engineering S.L. 45.00% Autotech Engineering Spain, S.L. Autotech Engineering S.L. 99.99% Autotech Engineering France, S.A.S. Autotech Engineering S.L. 45.00% Autotech Engineering R&D Uk limited Autotech Engineering S.L. 45.00% Autotech Engineering R&D USA, Inc. Autotech Engineering S.L. 45.00% Gestamp Tooling Erandio, S.L. Gestamp Tool Hardening, S.L. 20.00% Gestamp Cartera De México, S.A. De C.V. Gestamp Holding México, S.L. 100.00% Gestamp Brasil Industria de Autopeças, S.A. Gestamp Holding México, S.L. 40.33% Gestamp Argentina, S.A. Gestamp Holding México, S.L. 3.00% Gestamp Hot Stamping Japan Co. Ltd. Gestamp Kartek Co., LTD 65.91% Gestamp San Luis Potosí, S.A.P.I. de C.V. Gestamp Puebla, S.A. De C.V. 0.01% Gestamp Mexicana Serv. Lab. II, S.A. de CV Gestamp Puebla, S.A. De C.V. 0.01% Loire USA, Inc. Loire Sociedad Anónima Franco Española 100.00% Gestamp Tooling Erandio, S.L. Loire Sociedad Anónima Franco Española 80.00% Gestamp Auto Components (Tianjin) Co., Ltd. Gestamp (China) Holding, Co. Ltd 51.00% Gestamp Metal Forming (Wuhan), Ltd Gestamp (China) Holding, Co. Ltd 100.00% Gestamp Auto Components (Chongqing) Co., Ltd. Gestamp (China) Holding, Co. Ltd 100.00% Changchun Xuyang Gestamp Auto Components Co. Ltd. Gestamp (China) Holding, Co. Ltd 49.00% Gestamp Autocomponents Sales (Tianjin) Co., Ltd. Gestamp (China) Holding, Co. Ltd 49.00% Ingeniería Y Construcción De Matrices, S.A.U Gestión Global de Matricería, S.L. 100.00% IxCxT, S.A. Gestión Global de Matricería, S.L. 100.00% GGM Puebla, S.A. de C.V. Gestión Global de Matricería, S.L. 99.99% GGM Puebla Servicios Laborales, S.A. De C.V. Gestión Global de Matricería, S.L. 99.99% Gestool Tooling Manufacturing (Kunshan), Co., Ltd Gestión Global de Matricería, S.L. 100.00% GGM Puebla, S.A. de C.V. IxCxT, S.A. 0.01% GGM Puebla Servicios Laborales, S.A. De C.V. IxCxT, S.A. 0.01% Gestamp Auto Components (Shenyang), Co. Ltd. Mursolar 21, S.L. 100.00% Gestamp Auto Components (Dongguan), Co. Ltd. Mursolar 21, S.L. 100.00% Çelik Form Gestamp Otomotive, A.S. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Gestamp Beycelik Romania, S.R.L. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Beyçelik Gestamp Teknoloji ve Kalip Sanayi, A.S. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00% Beyçelik Gestamp Sasi Otomotive Sanayi, A.S. Beyçelik Gestamp Otomotive Sanayi, A.S. 100.00%
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156 Company Company holding the indirect interest % Interest Edscha Automotive Hengersberg GmbH Edscha Holding GmbH 100.00% Edscha Automotive Hauzenberg GmbH Edscha Holding GmbH 100.00% Edscha Engineering GmbH Edscha Holding GmbH 100.00% Edscha Automotive Technology (Shangai), Co., Ltd. Edscha Holding GmbH 100.00% Gestamp 2008, S.L. Edscha Holding GmbH 100.00% Anhui Edscha Automotive parts, Co. Ltd. Edscha Holding GmbH 100.00% Edscha Hradec S.R.O. Edscha Holding GmbH 100.00% Edscha Japan Co., Ltd. Edscha Holding GmbH 100.00% Edscha Burgos, S.A. Edscha Holding GmbH 0.01% Edscha Velky Meder S.R.O. Edscha Holding GmbH 100.00% Edscha Automotive Kamenice, S.R.O. Edscha Holding GmbH 100.00% Edscha Engineering France, S.A.S. Edscha Holding GmbH 100.00% Edscha Hengersberg Real Estate Gmbh & Co. Kg Edscha Holding GmbH 94.90% Edscha Hauzenberg Real Estate Gmbh & Co. Kg Edscha Holding GmbH 94.90% Shanghai Edscha Machinery Co. Ltd. Edscha Holding GmbH 55.00% Edscha Automotive Michigan, Inc. Edscha Holding GmbH 100.00% Edscha Togliatti, Llc. Edscha Holding GmbH 100.00% Edscha Automotive Components (Kunshan), Co., Ltd. Edscha Holding GmbH 100.00% Edscha Kunststofftechnik GmbH Edscha Holding GmbH 100.00% Edscha Pha, Ltd. Edscha Holding GmbH 50.00% Edscha Automotive SLP, S.A.P.I. de C.V. Edscha Holding GmbH 99.99% Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. Edscha Holding GmbH 99.99% Edscha Automotive Components (Chongqing), Co. Ltd. Edscha Holding GmbH 100.00% Jui li Edscha Body Systems Co. Ltd. Edscha Holding GmbH 60.00% Edscha Aapico Automotive,Co. Ltd Edscha Holding GmbH 50.99% Edscha Mechatronics Solutions, Gmbh Edscha Holding GmbH 100.00% Edscha Aditya Automotive Systems Private Limited Edscha Holding GmbH 50.00% Edscha Pha Automotive Components (Kunshan) Co., Ltd. Edscha Pha, Ltd. 100.00% Edscha North America Technologies, Llc. Edscha Automotive Michigan, Inc. 100.00% Edscha Automotive Components (Shanghai), Co., Ltd Shanghai Edscha Machinery Co. Ltd. 100.00% Jui li Edscha Holding, Co. Ltd. Jui li Edscha Body Systems Co. Ltd. 100.00% Jui Li Edscha Hainan Industry Enterprise Co., Ltd. Jui li Edscha Holding, Co. Ltd. 100.00% Edscha do Brasil, Ltda. Edscha Engineering GmbH 74.06% Edscha Automotive SLP, S.A.P.I. de C.V. Edscha Engineering GmbH 0.01% Edscha Automotive SLP Servicios Laborales, S.A.P.I. de C.V. Edscha Engineering GmbH 0.01% Edscha Aapico Automotive,Co. Ltd Edscha Engineering GmbH 0.01% Edscha Santander, S.A. Gestamp 2008, S.L. 94.99% Edscha Burgos, S.A. Gestamp 2008, S.L. 99.99% Shanghai Edscha Machinery Co. Ltd. Anhui Edscha Automotive Parts, Co. Ltd. 45.00% Edscha Briey, S.A.S. Edscha Santander, S.A. 100.00% Edscha do Brasil, Ltda. Edscha Santander, S.A. 25.94% Gestamp Umformtechnik GmbH GMF Holding GmbH 100.00% Automotive Chassis Products, Plc. GMF Holding GmbH 100.00% Sofedit, S.A.S GMF Holding GmbH 100.00% Gestamp (China) Holding, Co. Ltd GMF Holding GmbH 100.00% Gestamp Prisma, S.A.S GMF Holding GmbH 100.00% Gestamp Wolfsburg, Gmbh GMF Holding GmbH 100.00% Gestamp Tallent , Ltd Automotive Chassis Products, Plc. 100.00% Gestamp Wroclaw Sp.Z,O.O. Sofedit, S.A.S 100.00% Gestamp Hot Stamping Japan Co. Ltd. Gestamp Tallent , Ltd 34.090% Gestamp Sweden, AB Gestamp Tallent , Ltd 0.372%
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157 Company Company holding the indirect interest % Interest Gescrap, S.L. Sideacero, S.L. 100.00% Gescrap Recycling S XXI Sideacero, S.L. 80.00% Gescrap Polska Sp. Z.O.O. Gescrap, S.L. 100.00% Gescrap Desarrollo, S.L. Gescrap, S.L. 100.00% Industrial Steel Recycling, L.L.C. Gescrap, S.L. 0.25% Gescrap Czech, s.r.o. Gescrap, S.L. 30.00% Gescrap Romania, S.R.L. Gescrap, S.L. 99.93% Gescrap Recycling S XXI Gescrap, S.L. 20.00% Ges Recycling Polska Sp. Z.O.O Gescrap Desarrollo, S.L. 100.00% Industrial Steel Recycling, L.L.C. Gescrap Desarrollo, S.L. 99.75% Gescrap GmbH Gescrap Desarrollo, S.L. 100.00% Gescrap France, S.A.R.L. Gescrap Desarrollo, S.L. 100.00% Gescrap Czech, s.r.o. Gescrap Desarrollo, S.L. 70.00% Gescrap Autometal Comercio De Sucatas, S.A Gescrap Desarrollo, S.L. 70.00% Gescrap Autometal Mexico, S.A. de C.V. Gescrap Desarrollo, S.L. 70.00% Ges Recycling Limited Gescrap Desarrollo, S.L. 100.00% Gescrap Hungary, KFT Gescrap Desarrollo, S.L. 100.00% Ges Recycling USA, LLC Gescrap Desarrollo, S.L. 100.00% Ges Trading Nar S.A. de C.V. Gescrap Desarrollo, S.L. 70.99% Gescrap Bulgaria, EOOD Gescrap Desarrollo, S.L. 100.00% Gescrap Slovakia, s.r.o. Gescrap Desarrollo, S.L. 100.00% Soluciones De Gestión De Residuos Mexicana, S.A. De C.V. Gescrap Desarrollo, S.L. 0.30% Gescrap India Private Limited Gescrap Desarrollo, S.L. 70.00% Gescrap LT, UAB Gescrap Desarrollo, S.L. 100.00% Gescrap Morocco, S.R.L. Gescrap Desarrollo, S.L. 100.00% Gescrap Turkey Metal Sanayi ve Ticaret Limited Sirketi Gescrap Desarrollo, S.L. 50.00% Beta Steel, S.L. Gescrap Desarrollo, S.L. 70.00% Gescrap Slovenia d.o.o. Gescrap Desarrollo, S.L. 100.00% DJC Recyclage Gescrap Desarrollo, S.L. 50.00% Centre Recuperation Libournais Gescrap France, S.A.R.L. 50.00% Gescrap Rus, LLC Industrial Steel Recycling, L.L.C. 99.90% Soluciones De Gestión De Residuos Mexicana, S.A. De C.V. Gescrap Autometal Mexico, S.A. de C.V. 99.70% Ges Recycling South Carolina, LLC Ges Recycling USA, LLC 100.00% Ges Recycling Alabama, LLC Ges Recycling USA, LLC 100.00% Ges Recycling Tennessee, Llc Ges Recycling USA, LLC 100.00% Ges Recycling West Virginia, LLC Ges Recycling USA, LLC 100.00% Ges Recycling Michigan, Llc Ges Recycling USA, LLC 100.00% Recuperaciones Férricas Integrales, S.A. Recuperaciones Medioambientales Industriales, S.L. 100.00% Flycorp, S.L. Recuperaciones Medioambientales Industriales, S.L. 3.22% Gescrap Centro, S.L. Recuperaciones Medioambientales Industriales, S.L. 100.00% Gescrap Navarra, S.L. Recuperaciones Medioambientales Industriales, S.L. 100.00% Gescrap Trading, S.L. Recuperaciones Medioambientales Industriales, S.L. 100.00% Gescrap Servicios Portuarios, S.L. Recuperaciones Medioambientales Industriales, S.L. 100.00% Lusoscrap, Lda Recuperaciones Medioambientales Industriales, S.L. 100.00% Gescrap Noroeste, S.L. Recuperaciones Medioambientales Industriales, S.L. 100.00% Transportes Basegar, S.A. Recuperaciones Medioambientales Industriales, S.L. 75.00% Gescrap Aragón, S.L. Recuperaciones Medioambientales Industriales, S.L. 100.00% Samper-Refeinsa Galicia, S.L. Recuperaciones Medioambientales Industriales, S.L. 50.00% Gescrap Catalunya, S.L. Recuperaciones Férricas Integrales, S.A. 100.00% Samper-Refeinsa Galicia, S.L. Recuperaciones Férricas Integrales, S.A. 49.99% Refeinsa Navarra, S.L. Recuperaciones Férricas Integrales, S.A. 100.00% Refeinsa Centro, S.L. Recuperaciones Férricas Integrales, S.A. 100.00% Reimasa Recycling, S.L. Recuperaciones Férricas Integrales, S.A. 100.00% Flycorp, S.L. Recuperaciones Férricas Integrales, S.A. 96.78% Recuperaciones Férricas Asturianas, S.L. Recuperaciones Férricas Integrales, S.A. 50.00% Car Recycling, S.L. Recuperaciones Férricas Integrales, S.A. 50.00%
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158 Appendix III Guarantors for 2023 Syndicated Loan Edscha Automotive Hengarsberg, GmbH Edscha Holding, GmbH Gestamp Griwe Haynrode, GmbH Gestamp Griwe Westerburg, GmbH Edscha Automotive Hauzenberg, GmbH Gestamp Umformtechnik, GmbH Edscha Hengersberg Real Estate, GmbH Edscha Hauzenberg Real Estate, GmbH Edscha Engineering, GmbH GMF Holding, GmbH Gestamp Servicios, S.A. Gestamp Navarra, S.A. Gestamp Bizkaia, S.A. Gestamp Metalbages, S.A. Gestamp Esmar, S.A. Gestamp Palencia, S.A. Gestamp Abrera, S.A. Gestamp Solblank Barcelona, S.A. Loire S.A. Franco Española Gestamp Aragón, S.A. Gestamp Linares, S.A. Gestamp Vigo, S.A. Ingeniería Global Metalbages, S.A. Gestamp Global Tooling, S.L. Gestamp Noury, S.A.S. Gestamp Ronchamp, S.A.S. Sofedit S.A.S. SCI de Tournan en Brie Edscha Engineering France, S.A.S. Gestamp Prisma, S.A.S. Gestamp Hungaria, KFT Gestamp Polska Sp. Z.o.o. Gestamp Wroclaw Sp. Z.o.o. Gestamp Aveiro, S.A. Gestamp Cerveira, Lda. Gestamp Vendas Novas Unipessoal, Lda. Edscha Automotive Kamenice, S.r.o. Edscha Hradec, S.r.o. Gestamp Louny, S.r.o. Gestamp Tallent Limited Edscha Velky Meder, S.r.o. Gestamp Nitra, S.r.o. Gestamp HardTech AB Gestamp Sweden AB Edscha Burgos, S.A. Edscha Santander, S.A. Gestamp Levante, S.A. Gestamp Toledo, S.A. Gestamp Automoción, S.A. Also, a pledge was arranged on the shares of the subsidiaries Gestamp Metalbages, S.A., Gestamp Bizkaia, S.A., Gestamp Vigo, S.A. Gestamp Palencia, S.A., Gestamp Servicios, S.A. and Gestamp Toledo, S.A.
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159 Companies acting as Guarantors of the Bond Issuance of October 2025 Gestamp Navarra, S.A. Gestamp Palencia, S.A. Gestamp Bizkaia, S.A. Gestamp Servicios, S.A. Gestamp Toledo, S.A. Gestamp Vigo, S.A. Gestamp Linares, S.A. Gestamp Levante, S.A. Gestamp Esmar, S.A. Loire S.A. Franco Española Gestamp Global Tooling, S.L. Gestamp Abrera, S.A. Gestamp Solblank Barcelona, S.A. Gestamp Aragón, S.A. Edscha Santander, S.A. Gestamp Metalbages, S.A. Edscha Burgos, S.A. Ingeniería Global MB, S.A. Edscha Automotive Hengersberg GmbH Gestamp Griwe Westerburg GmbH Edscha Holding GmbH Gestamp Griwe Haynrode GmbH Edscha Automotive Hauzenberg GmbH Gestamp Umformtechnik GmbH Edscha Hengersberg Real Estate, GmbH Gestamp Aveiro, S.A. Edscha Hauzenberg Real Estate, GmbH Gestamp Noury, S.A.S. Edscha Engineering GmbH Gestamp Ronchamp, S.A.S. Edscha Engineering France, S.A.S. S.C.I. de Tournan en Brie Edscha Automotive Kamenice, S.r.o. Sofedit, S.A.S. Edscha Hradec, S.r.o. Gestamp Prisma, S.A.S. Edscha Velky Meder S.r.o. GMF Holding GmbH Gestamp Louny S.r.o. Gestamp Cerveira, Lda. Gestamp Tallent, Ltd Gestamp Vendas Novas Unipessoal, Lda. Gestamp Nitra, S.r.o. Gestamp Hungaria, KFT. Gestamp HardTech, AB Gestamp Polska, Sp. Z.o.o. Gestamp Sweden, AB Gestamp Wroclaw, Sp. Z.o.o. Also, a pledge was arranged on the shares of the subsidiaries Gestamp Metalbages, S.A., Gestamp Bizkaia, S.A., Gestamp Vigo, S.A. Gestamp Palencia, S.A., Gestamp Servicios, S.A. and Gestamp Toledo, S.A.
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160 Guarantors for May 2020 European Investment Bank Loan Edscha Automotive Hengersberg, GmbH Gestamp Palencia, S.A. Edscha Holding, GmbH Gestamp Esmar, S.A. Subgrupo Griwe Gestamp Abrera, S.A. Edscha Automotive Hauzenberg, GmbH Gestamp Solblank Barcelona, S.A. Gestamp Umformtechnik, GmbH Loire S.A. Franco Española Edscha Hauzenberg Real Estate, GmbH Gestamp Aragón, S.A. Edscha Hengersberg Real Estate, GmbH Gestamp Linares, S.A. Edscha Engineering, GmbH Gestamp Vigo, S.A. Gestamp Servicios, S.A. Gestamp Automoción, S.A. Gestamp Navarra, S.A. Ingeniería Global MB, S.A. Gestamp Bizkaia, S.A. Gestamp Ronchamp, S.A.S. Gestamp Metalbages, S.A. Gestamp Noury, S.A.S. Edscha Briey, S.A.S. Gestamp Hungaria, KFT Sofedit, S.A.S. Gestamp Polska, Sp. Z.o.o. SCI de Tournan en Brie Gestamp Wroclaw, Sp. Z.o.o. Edscha Engineering France, S.A.S. Gestamp Cerveira, Ltda. Gestamp Prisma, S.A.S. Gestamp Vendas Novas Unipessoal, Lda. Gestamp Aveiro, S.A. Edscha Automotive Kamenice, S.R.O. Edscha Hradec, S.r.o. Gestamp Tallent Limited Gestamp Louny, S.r.o. Edscha Velky Meder, S.r.o. Gestamp HardTech, AB Gestamp Sweden, AB Edscha Santander, S.A. Gestamp Levante, S.A. Edscha Burgos, S.A. Gestamp Global Tooling, S.L. GMF Holding, GmbH Gestamp Toledo, S.A.
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161 Guarantor Companies for the Loan from the Official Credit Institute, Corporate State -owned Entity, July 2022 Edscha Automotive Hengersberg, GmbH Sofedit, S.A.S. Edscha Holding, GmbH SCI de Tournan en Brie Subgrupo Griwe Edscha Engineering France, S.A.S. Edscha Automotive Hauzenberg, GmbH Gestamp Prisma, S.A.S. Gestamp Umformtechnik, GmbH Gestamp Hungaria, KFT Edscha Hauzenberg Real Estate, GmbH Gestamp Polska, Sp. Z.o.o. Edscha Hengersberg Real Estate, GmbH Gestamp Wroclaw, Sp. Z.o.o. Edscha Engineering, GmbH Gestamp Aveiro, S.A. Gestamp Servicios, S.A. Gestamp Cerveira, Ltda. Gestamp Navarra, S.A. Gestamp Vendas Novas Unipessoal, Lda. Gestamp Bizkaia, S.A. Edscha Automotive Kamenice, S.R.O. Gestamp Metalbages, S.A. Edscha Hradec, S.r.o. Gestamp Esmar, S.A. Gestamp Louny, S.r.o. Gestamp Palencia, S.A. Gestamp Tallent Limited Gestamp Abrera, S.A. Edscha Velky Meder, S.r.o. Gestamp Solblank Barcelona, S.A. Gestamp HardTech, AB Loire S.A. Franco Española Gestamp Sweden, AB Gestamp Aragón, S.A. GMF Holding, GmbH Gestamp Linares, S.A. Edscha Santander, S.A. Gestamp Vigo, S.A. Edscha Burgos, S.A. Gestamp Automoción, S.A. Gestamp Global Tooling, S.L. Ingeniería Global MB, S.A. Gestamp Toledo, S.A. Gestamp Ronchamp, S.A.S. Gestamp Levante, S.A. Gestamp Noury, S.A.S. Edscha Briey, S.A.S.
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Gestamp Management Report 2025 January - December 2025 1
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TABLE OF CONTENTS 1. Letter from the Chairman ............................................................................................................. 4 2. About Gestamp ............................................................................................................................. 6 1. Background of Gestamp ............................................................................................................ 6 2. Gestamp around the World ...................................................................................................... 7 3. Organisational Structure ........................................................................................................... 8 4. Business strategy ....................................................................................................................... 9 5. Technologies and Products ....................................................................................................... 10 6. Established business track record ............................................................................................. 15 7. Milestones 2025 ........................................................................................................................ 16 3. Operational Excellence ................................................................................................................. 17 1. Gestamp's Transformation plan ................................................................................................ 17 2. Quality ....................................................................................................................................... 18 3. Industry 4.0 Model .................................................................................................................... 23 4. Innovation and Key R&D Factors .............................................................................................. 27 5. Intellectual property, data protection, cybersecurity and artificial intelligence ...................... 45 4. Economic Strategy ......................................................................................................................... 51 1. Context and business results .................................................................................................... 51 2. Debt and Liquidity ..................................................................................................................... 59 3. Foreseeable Evolution of the Group ......................................................................................... 60 4. Tax Strategy ............................................................................................................................... 61 5. The Company in the Capital Markets ........................................................................................ 63 6. Dividend Policy .......................................................................................................................... 66 7. Other relevant information ....................................................................................................... 66 5. Risk Management .......................................................................................................................... 68 6. Annual Corporate Governance Report ......................................................................................... 74 7. Annual Report on Directors' Remuneration ................................................................................ 74 8. Consolidated statement of non-financial information and sustainability information ............ 75 1. General Information .................................................................................................................. 76 I. General Information (ESRS 2) ................................................................................................ 76 2. Environmental information ....................................................................................................... 136 Disclosure of information under Article 8 of Regulation (EU) 2020/852: Taxonomy of the European Union ....................................................................................................................... 136 I. Climate change (E1) ............................................................................................................... 156 II. Pollution (E2) ........................................................................................................................ 187 III. Water and marine resources (E3) ....................................................................................... 193 IV. Biodiversity and ecosystems (E4) ........................................................................................ 201 V. Resources used and circular economy (E5) ......................................................................... 209 3. Social Information ..................................................................................................................... 231 I. Own workforce (S1) ............................................................................................................... 231 II. Value chain workers (S2) ...................................................................................................... 283 III. Affected Communities (S3) ................................................................................................. 296 IV. Consumers and end users (S4) ............................................................................................ 315 4. Governance Information ........................................................................................................... 323 I. Business conduct (G1) ........................................................................................................... 323 Annexes ......................................................................................................................................... 345 Additional information ............................................................................................................. 346 Material impacts, risks and opportunities identified during the year ..................................... 364 Policies and other rules ............................................................................................................ 370 2
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Table of Contents as per Law 11/2018 ..................................................................................... 371 Table of contents pursuant to Commission Delegated Regulation (EU) 2023/2772, of 31 July 2023, supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards (CSRD) ................................................................................................................................................. 383 List of data points included in cross-cutting standards and thematic standards derived from other EU legislation ......................................................................................................... 388 Task Force on Climate-Related Financial Disclosures (TCFD) Table of Contents ..................... 396 Group Companies ..................................................................................................................... 397 Independent verification report ............................................................................................... 401 3
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1. LETTER FROM THE CHAIRMAN Dear shareholders, Another year has come to an end and I would like to share with you all a brief but meaningful reflection on what 2025 has meant for our company. It has been a year marked by extraordinary challenges and great ambitions, in a particularly complex context for our sector, conditioned both by regulatory uncertainty and a challenging geopolitical environment. Throughout 2025, we have continued to operate in a highly unstable global environment, with geopolitical tensions affecting supply chains and market predictability. At the same time, we have seen how new European guidelines introduce greater flexibility on the path to decarbonisation, broadening the range of technological solutions and allowing progress not only through electric vehicles, but also through the use of lower-impact materials and industrial processes, such as low-emission steels. In this context, Gestamp has once again demonstrated its resilience, its capacity for innovation and its leading role in the industrial and technological transformation towards more sustainable and efficient mobility, maintaining the best standards wherever we operate. In 2025, we took a decisive step towards strengthening our financial solidity through active and efficient debt management. At the same time, the company has maintained stable business growth in a challenging environment. In 2025, the Group's revenue reached €11,348.6 million, representing a variation of -5.4% compared to the previous year, while EBITDA stood at €1,307.3 million, with a variation of 1%. These results reflect the resilience of our model and the strength of a strategy based on geographical diversification, operational excellence and an innovative and differentiated product portfolio that continues to deliver value in all markets. Emerging stronger in an environment of uncertainty in volumes and adverse exchange rate effects would not be possible without operational excellence. This year, we have reinforced our operational excellence in an uncertain environment. This performance is supported by strict cost discipline, responsible expenditure management and the continuous optimisation of our industrial processes, which allows us to protect margins and maintain our competitiveness. During the year, we made progress on various initiatives aimed at improving the productivity and efficiency of our plants, consolidating more agile and robust operating models. We also continued to drive forward the Phoenix Project, which is progressing as planned and whose performance indicates that it will achieve the targets set for 2026, thereby strengthening our ability to improve the Group's profitability in the region. Innovation remains a strategic focus, strengthening our positioning with both traditional manufacturers and new players. Our focus on lightweighting and advanced structural solutions allows us to support customers in the development of more efficient and safer vehicles. This model, based on co-development, has driven several projects linked to different platforms, supported by our global R&D network and new training capabilities, such as the training centre inaugurated in Puebla. At Gestamp, we firmly believe that our people are the architects of our success. That is why, in 2025, we have continued to promote training and development programmes that strengthen the capabilities of our teams and prepare them to lead industrial transformation from within the production environment itself. We remain committed to continuous upskilling, technical training and professional growth, consolidating a talent model that allows us to move forward with confidence in a rapidly evolving sector. 4
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In terms of ESG, we successfully completed the implementation of our 2023–2025 ESG Plan, reflected in a notable improvement in the main indicators associated with our eight strategic pillars. This is further proof that sustainability continues to be a central element of our business model and a driver of long-term competitiveness. The circular economy has continued to gain prominence thanks to the strategic role of Gescrap, which allows us to strengthen our contribution to the decarbonisation of steel and promote responsible practices in the reuse, recycling and recovery of waste. We are also making progress in reducing emissions, achieving a 45% reduction in tCO₂ by 2025 compared to 2018, supported by the growing use of low-emission steel through agreements with strategic partners. With an eye to the future, we have defined our 2026–2030 ESG Plan, which sets out a clear roadmap for continuing to drive our environmental, social and governance commitments and consolidate our leadership in sustainability. As a sign of our commitment to people and communities, the Gestamp Foundation is consolidating its role as a driver of social impact. Guided by a long-term vision, the Foundation has realised this commitment through initiatives that strengthen people and communities, generating opportunities through training, mobility and sustainability. This collective effort has been made possible thanks to the dedication of 1,230 volunteers, the collaboration of 25 organisations and the involvement of 27 Gestamp centres, which made it possible to carry out 14 projects reaching more than 780,900 people. This joint effort demonstrates that significant impact comes from cooperation and generosity, and that social commitment is an essential feature of our identity as a company. We continue to advance the digital transformation of our operations through the adoption of artificial intelligence and automation, enabling us to be more efficient, flexible and sustainable, reducing the use of raw materials and strengthening safety in our plants. At the same time, we are strengthening our cybersecurity, improving our ability to prevent and respond to threats, ensuring operational continuity and trust in an increasingly demanding digital environment. The sector will continue to evolve in a demanding environment, but Gestamp faces the future with confidence, supported by a solid model, differential technologies and a culture that promotes teamwork. We have the collective strength of everyone who makes up this company to continue moving forward and create the mobility of the future. With this vision, we look forward to the coming years, ready to seize new opportunities and build an increasingly strong and sustainable project. Sincerely, Francisco J. Riberas Mera Executive Chairman of Gestamp and Chairman of the Gestamp Foundation 5
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2. ABOUT GESTAMP 1. Background of Gestamp Gestamp is a multinational company specialising in the design, development and manufacture of highly engineered metal components for the automotive industry. Since its creation in 1997, Gestamp has evolved from a local metal stamping supplier into a multinational technology company and a strategic supplier to its customers. With a presence in the main automotive manufacturing hubs, the customer has always been the focus of the business, accompanying them into new markets and offering innovative solutions to face the many different challenges of the automotive sector. Gestamp is a leading partner in the automotive components sector that seeks to be the trusted partner of its clients to meet their needs, based on a strategy of globalisation, technological development, financial strength and operational excellence. Thanks to its experience and legacy, the company has evolved and adapted to industry changes to maintain its leadership. Gestamp is a major group within the automotive industry, committed to ensuring safety and trust, always striving for safer, cleaner transport. Technology and innovation, talent, operational excellence, and sustainability are the key levers to remain competitive and lead a strategic sector for the global economy and society. The multinational’s main objective has always been to offer the best technological solutions to its customers, wherever they are, to contribute to making mobility increasingly safer and more sustainable – better for the environment. With a presence in 24 countries, Gestamp contributes to the mobility of the present and future generations thanks to its capacity for innovation in technology and products. Its structural body, chassis, and mechanism components respond to and anticipate the needs of this new era of mobility, marked by vehicle electrification. Gestamp is made up of more than 42,000 people of different nationalities, forming a large, diverse, multicultural team. As a family business, Gestamp was intended to be a long-term project from the very beginning. This intention has remained strong over the years, through the fostering of long-lasting relationships based on trust. After a 28-year journey, Gestamp looks to the future with ambition, remaining faithful to its essence and committed to improving day by day and staying at the forefront of the industry. 6
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2. Gestamp Around the World 7
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3. Organisational Structure Gestamp’s organisational model is built on functions that focus on business, product, process and strategic project development, while our geographic divisions are focused on the launch of industrial projects and the efficient management of production capacity. 8
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4. Business Strategy Gestamp's strategy is based on three key aspects: being an innovative, competitive and sustainable company. • It aims to strengthen its position as an innovative supplier and move forward together with its customers, by offering them innovative solutions to build more sustainable transport. • Gestamp prioritises competitiveness based on operational excellence and the extensive use of the latest technology in the area of Industry 4.0 and digitalisation. • The company is making progress in terms of sustainability in line with the current demands of society. With its sights set on the long term and its goal of remaining the global strategic partner for automotive manufacturers in BIW, Chassis and Mechanisms, Gestamp is underpinned by a culture of continuous improvement, in order to adapt its organisational and industrial structures, maintain its financial strength, and to be prepared for the future and any changes in the market. Vision and Principles To be the automotive supplier most renowned for its ability to adapt business to creating value for the customer, while maintaining sustainable economic and social development Corporate Principles: 1 The customer as the focus of the business 2 Operational excellence as standard practice 3 Innovation as the path to progress 4 Sustainability as a key to long-term stability 5 People as makers of success Phoenix Plan in NAFTA One of the company's main sources of leverage is the ongoing execution of the Phoenix Plan in NAFTA, in line with its aim of raising profitability in this market to the same level as in other regions where the company operates. 9
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5. Technologies and Products Throughout 2025, Gestamp has reaffirmed its position as a leader in developing advanced solutions to address the evolving challenges of technology and mobility in the automotive sector. The company's unwavering commitment to quality, efficiency, and performance is reflected in the creation of increasingly safe and sustainable products, designed to meet the rigorous demands of its customers and the next generation of vehicles. Technological leadership Gestamp is a world leader in technology, offering a wide range of solutions that meet the sector's most urgent needs while ensuring an optimal balance between safety, performance, weight, and cost. The company's evolution from a cold stamping specialist to a multi-technology company is evident in the continuous integration of new technologies into manufacturing processes and the expansion of traditional techniques. This transformation has allowed Gestamp to stay at the forefront of innovation, constantly adding value to its stakeholders. A particular area of leadership is hot stamping, a technology that enables the production of safer and lighter components, thereby reducing total vehicle weight, energy consumption, and CO₂ emissions. Gestamp’s technology portfolio includes, among others: • Multistep • Hot stamping • Cold stamping • High-strength steel stamping • Rollforming • Hydroforming • Welding and assembly • Laser welded blanks • Laser welding This broad technological base allows Gestamp to respond quickly and effectively to the changing needs of the automotive sector, ensuring its customers benefit from the latest advances in materials science, manufacturing processes, and product design. Product Portfolio Gestamp designs, validates, industrialises, and manufactures a wide range of automotive components. A large proportion of these products are structural elements designed to absorb maximum kinetic energy through controlled deformation in the event of a collision, thereby improving occupant safety. The company also develops components with greater rigidity to minimise torsion under stress, improving vehicle dynamics and general performance. Comfort and durability are equally prioritised 10
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throughout the product development process, reflecting Gestamp’s commitment to offering comprehensive value. The products developed by Gestamp can be divided into three broad groups: • Bodywork • Chassis • Mechanisms Bodywork Bodywork products (Body-in-White or BIW) refer to the phase of car manufacturing where the vehicle's sheet metal components are welded together, forming the car's main structure before painting and the assembly of moving parts, trim, or the powertrain. BIW products are fundamental to vehicle architecture, as they create the structural core that supports the entire weight of the vehicle and provides a safety cell for its occupants. These components are meticulously designed to optimise safety in the event of a collision, ensuring that, should an accident occur, energy is absorbed and dissipated in a controlled manner to minimise the risk of injury. Beyond safety, BIW elements play a crucial role in improving aerodynamics, which directly impacts fuel efficiency and vehicle stability at high speeds. They also contribute to optimal weight distribution, which is essential for balanced handling and driving dynamics. Structural integrity is another key aspect, as a robust BIW ensures the vehicle remains rigid under stress, reducing unwanted flex and vibrations. Furthermore, the design and finish of BIW components influence the vehicle's aesthetics, laying the foundations for its exterior appearance. A significant technological advance in this area is the application of hot stamping. This process allows for the creation of lighter and stronger bodywork components, enabling manufacturers like Gestamp to produce vehicles that not only meet but exceed increasingly strict global safety standards, whilst reducing the total weight of the vehicle. This weight reduction translates into lower energy consumption and a reduction in CO₂ emissions, in line with the industry's drive towards sustainability. Gestamp continues to set new benchmarks in the design and manufacture of Body-in- White (BIW) thanks to the use of advanced materials and innovative technologies, ensuring its products remain at the forefront of automotive engineering. 11
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Chasis The chassis constitutes the backbone of the vehicle, encompassing the lower bodywork structure and a series of fundamental systems, frames, and components. This includes elements such as axles, links, and control arms, all essential for the vehicle's operation. The chassis is responsible for supporting the mechanical systems and the vehicle bodywork, providing a stable platform that underpins all aspects of vehicle dynamics. A well-designed chassis is fundamental to achieving superior performance and safety. It significantly influences how the vehicle responds to driver actions, manages noise and vibrations, and withstands impacts from the road surface or collisions. The integration of advanced engineering and materials into chassis design ensures modern vehicles offer a refined driving experience, with greater comfort, precise handling, and robust protection for occupants. Gestamp’s experience in this area ensures its chassis products not only contribute to the vehicle's structural integrity but also enhance the overall driving experience, meeting the demanding expectations of both manufacturers and end-users. 12
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Mechanisms The mechanisms category covers a wide range of mechanical and electromechanical components that are fundamental to vehicle functionality, safety, and comfort. This includes traditional parts such as hinges for doors, bonnets, and tailgates, as well as door checks, pedal systems, and handbrakes. Additionally, Gestamp develops powered systems that allow for the electric or remote opening and closing of vehicle doors and tailgates, reflecting the growing trend towards automation and convenience in modern vehicles. These mechanisms are not merely functional; they are designed to provide a seamless user experience, ensuring that every interaction with the vehicle – whether opening a door or applying the handbrake – is smooth, reliable, and safe. Their design takes into account factors such as durability, ease of use, and integration with other vehicle systems. By prioritising both safety and comfort, Gestamp’s approach to mechanisms exemplifies a holistic approach to vehicle design, where every component, however small, contributes to the general quality and appeal of the finished product. Dies, Presses and Other Products and Services Gestamp has developed highly advanced technological dies that are fundamental for the classification and production of complex automotive parts. These dies are not only designed and manufactured internally but also incorporate state-of-the-art engineering to enable innovative solutions, especially in hot stamping. Leveraging the most advanced technology, Gestamp’s dies allow for the creation of components with complex geometries and exacting specifications, ensuring both precision and efficiency in the manufacturing process. Their technological sophistication is the cornerstone for offering advanced hot stamping solutions that meet the changing needs of the automotive industry. Similarly, presses patented by Gestamp are a key element in the hot stamping process and are also fundamental for other types of stamping operations. These presses are equipped with high-end technology, allowing for precise control, adaptability, and reliability throughout the entire production cycle. Their advanced features ensure optimal performance, whether used for hot stamping or traditional cold stamping 13
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techniques. The integration of these high-tech presses into Gestamp’s manufacturing ecosystem ensures not only superior product quality but also greater flexibility and cost-effectiveness. This technological leadership in both dies and presses reinforces Gestamp’s position as a trusted partner for innovative and efficient stamping solutions. Flex Manufacturing Gestamp’s Technology and Innovation Office has pioneered the concept of "flexible manufacturing", taking digitalised production to unprecedented levels and accelerating the transformation of Gestamp’s facilities into true smart factories. This innovative approach seamlessly integrates virtual and physical environments, ensuring maximum operational efficiency and adaptability. The principles of flexible manufacturing guide the design and organisation of flexible, state-of-the-art industrial spaces that maximise the potential of all systems and equipment, without ever compromising quality or safety. A decisive advantage of this model is its ability to manufacture a wide variety of products using shared production resources. This allows for rapid adaptation to fluctuating production volumes and the integration of advanced technologies – an essential capability in the dynamic and competitive environment of today’s market. It is worth noting that Gestamp has already moved beyond the experimental phase: the company is currently mass-producing parts using flexible manufacturing principles, demonstrating the efficacy and maturity of the model in real industrial environments. To further drive innovation and operational excellence, Gestamp has created a dedicated pilot plant within its innovation ecosystem. This facility, situated at the forefront of industrial advancement, is not only a testbed for refining flexible manufacturing processes but also a catalyst for continuous improvement. Here, new methods and technologies are tested and optimised before being implemented on a large scale, ensuring that every improvement brings tangible benefits in terms of efficiency, quality, and sustainability. Flex Manufacturing principles are realised through modular and generic systems, interconnected by autonomous mobile robots (AMRs) and coordinated by advanced software linking products, processes, and personnel. The widespread application of Internet of Things (IoT) technologies allows for rapid changes with minimal downtime and reconfiguration, resulting in optimised production and greater traceability throughout the entire process. The pilot plant represents a fundamental milestone in the implementation of flexible manufacturing and marks a new era in Gestamp’s technological and product leadership. By combining mass production with continuous process improvement, Gestamp continues to set new standards for industrial excellence and innovation. 14
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6 Established business track record Over its long history, Gestamp has become a global supplier with expertise in technology, standing out for its proximity to its customers, continuous innovation and strong internationalisation strategy. The company bases its strategy on leadership, globalisation, technological development, financial strength and operational excellence: 15
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7 2025 Milestones Date Milestone January 18/1/2025 Bharat Mobility Global Expo (New Delhi - India) 27/1/2025 Presentation of CEO of Talent award to Francisco J. Riberas - Executive Chairman - Accenture and elEconomista. February 11/02/2025 Opening of GTI Mexico. 18/2/2025 First company to receive AENOR certification for its innovation management system. 27/2/2025 Presentation of annual financial results corresponding to 2024. April 23/4/2025 Auto Shanghai 2025 fair hosts Gestamp's latest innovations. May 8/5/2025 JGeneral Shareholders' Meeting. 21/05/2025 Gestamp presents its developments for safer mobility at AEE 2025 Yokohama. September 23/09/2025 Gestamp successfully prices its issue of €500m in senior secured notes. October 2/10/2025 Gestamp and Hydnum Steel sign an agreement to use clean steel produced with green hydrogen. November 13/11/2025 H.M. King Felipe VI visits a Gestamp factory in Beijing. 17/11/2025 The FaCyL cluster recognises Francisco J. Riberas with its honorary award at the 3rd Automotive and Mobility Awards of Castile and León. December 18/12/2025 Celebration of LM2025. Throughout the year the company celebrates a decade of commitment to sustainability. 16
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3. OPERATIONAL EXCELLENCE At Gestamp, the pursuit of operational excellence is not just a strategic objective, but a core value that permeates every aspect of the company's culture and operations. Competitiveness, based on the pillars of quality, efficiency, and effectiveness, remains one of Gestamp's most important guiding principles. In a sector as demanding and dynamic as automotive manufacturing, where technological advancements and market expectations are constantly evolving, maintaining a competitive edge requires more than simply keeping pace; it demands a proactive and relentless drive for improvement at every level of the organization. 1. Gestamp Transformation plan A culture of continuous transformation is part of Gestamp’s strategy to successfully overcome challenges posed by the industry. In January 2024, the PHOENIX transformation plan was launched, a strategic initiative focused on improving results in the NAFTA region. Its implementation involves industrial improvement in four plants located in the United States, focusing on optimising processes, reducing costs, and implementing a culture of Operational Excellence. The execution of said plan has relied on the experience of Group experts, selected based on technological and product knowledge. Likewise, it has been driven by the implementation of digitalisation, through the deployment of Industry 4.0 tools. Additionally, the PHOENIX Plan has focused on proactive management of commercial claims, aimed at protecting margins and minimising the effects of volume reductions, inflation, or project delays, among others. The Plan also contemplates significant savings in Purchasing, supported by an ambitious budget review, a review of technical specifications, and a constant search for synergies and improvements in contracts with suppliers. Finally, the plan incorporates a Human Resources transformation plan, oriented towards fostering talent development, attracting top talent, and consolidating the structure in the region. Internal transformation is key in the current context. Culture, organisation, and ESG are key levers to achieve said change. Culture: • New transparent, uniform approaches to working across all geographical areas and departments. • An ecosystem of collaboration and coordination between departments and operational levels. • Formalised management processes (e.g. commitment to results, monitoring, accountability). • Clear communication mechanisms. • Promoting global talent by identifying and empowering the leaders of tomorrow. 17
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Organisation: • Strengthened leadership with shared objectives. • New roles and responsibilities in relation to the governance model for transformation projects. • A higher level of integration and communication between divisions and functions. ESG (environmental, social and governance): • Ensuring the alignment of the transformation with ESG. 2. Quality In the automotive industry, each part that makes up the final product is important in ensuring the correct functioning of the manufacturer's assembly line, the quality of the vehicle and even, for some products, the safety of users. For those reasons, the industry is a pioneer in the application of quality systems throughout the value chain. Gestamp’s customers demand flawless products in the required quantity and by the agreed deadline to ensure both the quality of the final product and its proper functioning. Quality Systems All of Gestamp’s production plants have developed and maintain a quality management system that boasts the international certifications required by Gestamp’s customers, primarily ISO 9001 and IATF 16949. The management systems of each and every one of the plants are based on Gestamp’s baseline quality management system, known as GQS (Gestamp Quality System), which ensures a standardised level of quality across all of them. This management system aids Gestamp’s continuous improvement by focusing on the customer and promoting prevention over detection, resulting in fewer defects and less waste in the supply chain, in a safe and sustainable manner. Nevertheless, sometimes customer incidents may arise, in which case built-in response mechanisms are activated and measures are taken to tackle the causes of these incidents so that they do not recur. These mechanisms are standard in the automotive sector, such as problem-solving methods like 8D, including root cause investigation methods like 5W, 5M or Ishikawa, or methods for warranty management, including NTF (No Trouble Found), to name a few. These methodologies are a standard in the sector, accepted and required by all customers. These management systems are ever-evolving, capable of adapting to industry changes and seeking continuous improvement. During 2025, a remarkable advancement was made in the digitalisation of quality-related information, with the purpose of reinforcing the quality area as an intelligence hub. This includes the use of Artificial Intelligence tools to analyse data, as occurs with customer standards, and the implementation of control towers to establish a preventive model. 18
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Furthermore, a specialised corrosion committee has been formed to identify and share changes in customer requirements regarding corrosion standards, guaranteeing compliance with them. Customer-Oriented Quality At Gestamp, we are committed to building strong and lasting relationships based on trust with our customers. To this end, we encourage continuous dialogue, which helps us improve and meet their needs: - Annual meetings Annual meetings are held at the highest level with customers in order to review short-term results and forecasts; longer-term prospects, trends and opportunities are also discussed at these meetings. Moreover, the development of common strategies, new technologies and any needs raised by the customer are considered. - Day-to-day relations Direct contact is maintained with the customer regarding day-to-day activities, in both the industrialisation phase and the mass production phase. During the industrialisation phase of new products, constant contact is maintained with customers, with particularly close monitoring of those projects that are considered strategic in order to ensure an appropriate response. Our production plants maintain daily contact with the facilities of our customers. This contact is more operational in nature, seeking to provide a flexible response to the requirements and needs of the customer, and resolve any issues that may arise on a day-to-day basis. - Customer audits The customer, in turn, visits the plants from time to time to carry out audits and contribute towards continuous improvement, together with periodic assessments which allow Gestamp to determine its level of quality in comparison with the customer’s other suppliers, and to take measures in areas where there may be room for improvement. Each customer decides on the frequency of these audits, which is usually yearly, but can be adapted according to the circumstances. Gestamp always works with the customer by arranging these visits, providing the information required to ensure the audit is conducted properly. Monitoring and Internal Control Monitoring the quality performance of parts delivered to customers is undertaken through internal audits on products, processes and systems, as well as through the use of indicators at all levels of the organisation (plants, regions, divisions and corporations). 19
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Incidents occurring during the year were resolved between the automobile manufacturers and the Group, being managed favourably within optimal timeframes and avoiding risk to the end user during 2025. Treatment of critical characteristics of parts Gestamp has a specific directive for handling critical components, understood as those that, according to the VDA (Verband der Automobilindustrie), contain a safety or regulatory feature, i.e. that could pose an immediate risk to the life and physical integrity of the occupants or a breach of current legislation. Some examples include the vehicle’s steering, suspension or impact resistance in the event of a collision. This directive also outlines the specific requirements for maintaining records associated with this type of component, which are key to taking potential action should any adverse events occur. Furthermore, there are other company-wide directives that form part of Gestamp’s quality management system, specifying minimum requirements so that design and manufacturing processes can manage factors that may affect critical features in the most effective way possible. Project Quality In order to properly manage risk from the project phase, the corporate project quality area leads a global initiative related to risk prioritization based on the so-called FMEA cycle (Failure Mode and Effects Analysis), one of the most powerful standards in the sector. To this end, an ambitious program has been developed to improve its use, both from a methodological perspective and from the development of an IT tool, which allows for improved analysis and detection of potential failures in the design of the product or the production process, as well as their causes, and subsequently the implementation in the control phases in serial production of the defined actions. The tool has been used in the day-to-day running of projects, with multiple connections to other quality areas such as process quality, and there are already real cases where clients have audited projects developed under the new tool, with no relevant gaps detected. The project management line for the chassis product has been strengthened, and even more so the newest line of battery boxes related to the electric vehicle. Process Quality The Process Quality department provides an organisation-wide set of standards and methods linked to the most critical technologies and production processes within the Group, focusing in particular on special processes (those in which the part has to be destroyed to ensure that the product is up to standard, such as parts involving arc welding). 20
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Its aim is to align all of Gestamp’s production activity with the customer's quality requirements and international standards in order to maximise the quality and efficiency of said activity. Thus, Gestamp ensures compliance with the customer’s requirements throughout every process, from the early phases of production to delivery of the final product. During 2025, work began with the goal of future quality from a preventive point of view – what we call Quality 4.0. To this end, work is underway on extracting value from 4.0 tools in Gestamp's different technologies, such as in the case of control towers using 4.0 signals to work in a preventive manner. Work also continues on the traceability project launched in 2024, which consists of being able to link product and process characteristics for chassis products and battery boxes. At the beginning of 2025, support was also provided to plants included in the Phoenix project to improve quality results. Furthermore, part of the certification process for the main technologies previously indicated for the plants has been resumed. In 2026, evaluation of the production plants’ implementation of the standards set are expected to resume. Global control equipment project 21
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The project had established several lines of action, such as: assessing the inventory of equipment available in production plants around the world, reviewing and identifying the suppliers of this technology and their limits and, finally, drafting complete guides for each equipment family. Finally, a database is also available to manage all the equipment and thus optimise analysis, from the technical point of view of the plants’ needs, where the feedback from the plants is being implemented. Throughout 2025, in addition to continuing the exploitation of the global control equipment project (see evolution in previous Annual Reports), we are continue to carry out tests with various equipment that use deep learning and artificial intelligence, with the aim of maximising the added value of existing solutions. 22
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3. Industry 4.0 Model For years, Gestamp has been working on an Industry 4.0 model with the aim of creating more efficient and flexible production plants with more consistent and reliable processes, using data analysis and intelligent processes to ensure that the right information reaches the right people at the right time. During this time, over 275 IoT projects have been set in motion, covering Gestamp’s main production processes such as hot stamping, cold stamping, chassis manufacturing and spot welding. Furthermore, more than 200 simulation and virtualisation projects for processes and logistical flows have been executed, ranging from complex production lines to complete factories. On the other hand, through specialised applications in industrial operations management, projects for monitoring and improving them have been executed, all connected to the manufacturing means themselves. Gestamp has been able to develop these projects thanks to the work of multidisciplinary teams made up of experts in industrial and technological operations, digital developers and new professional profiles specialising in data management. This has ensured greater knowledge in the areas of digital technology, IoT, big data and virtualisation, as well as in other fields such as artificial intelligence, collaborative robots, resource orchestration, computing, etc. The majority of these technologies are being used in projects currently under way. Thanks to the experience we have gained over the years, the Digital and Smart Factory is now a reality at Gestamp. A Digital Factory where everything is connected – products, machines, systems and people – sharing information in real time in a transparent way and ensuring that the factories can operate efficiently at all times. Gestamp is currently in the process of evolving and structuring all the technologies that are moving towards the concept of smart manufacturing. Above all, this means ensuring integration and standardisation among them, so that they come together in a seamlessly governed environment. This will allow us to design and deploy a longer- term strategy. Meanwhile, in 2022 and 2023 greater impetus was given to all aspects related to change management, the creation of digital culture and the strengthening of teams and structures designed specifically to implement the strategic digitalisation plan. This involves a major effort in terms of training and transforming professional profiles that specialise in digital systems, defining positions and duties allocated across the various regions and plants, and fostering a robust community within Gestamp that upholds its strategy and governance on a global level. In 2024, the use of digital tools in factories became increasingly normalised. While there was a varying level of uptake across the factories, the scale of uptake was much higher than in previous years. The level of adoption and transition towards digital factories has increased substantially. 23
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In 2025, efforts have been directed towards the impact on plant profitability, through the optimisation and prioritisation of efforts aimed at improving efficiency and ensuring the stabilisation of unstable processes through digitalisation, early detection, and digital assistance to factory professionals. In addition, by combining experience in digitalisation and advanced engineering, Gestamp has developed a new concept of flexible assembly, allowing for the production of different products on the same line. This marks another step towards digital industrialisation, evolving from product-specific and linked systems to generic and individual systems where movements are carried out by AGVs (guided vehicles) instead of static robots. Having started in 2024 with the conception and deployment of a federated environment in the development and implementation of digital solutions in operations, in 2025 this system has begun to bear very clear fruit, such as the co- development of GeSmart Fusion, where corporate teams and teams from the Asia Division have joined forces to provide a combined solution for top-level digitalisation in the factory. 24
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Progress has also been made in the integration of digitalisation and 4.0 areas with operations areas, such that the barrier between them has been blurring towards a concept of digital operations in which both fields merge into a single concept. Supplementing all of the above, the application of artificial intelligence developments has intensified greatly throughout 2025, both in development and deployment. Continuity has been given to rules (Real Time Analytics), advanced studies, and, with great force, to the development of models specialised in industrial aspects, customised and retrained with Gestamp specifications. All this within the framework of governed and standardised development that has been consolidated over the last three years, both from the point of view of data and of specialised models and algorithms, on an MLOps platform ensuring their ownership and efficiency. 25
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2026 will focus on further integrating digital tools into the plants’ daily processes, covering different management levels, such that they move from being occasional support to key tools in daily operation. The injection of data, pre-treated and segmented by user, as well as analytics and, in some cases, direct assistance to the worker by means of smart assistants specialised by domain, will be the objective. All this allows Gestamp to deal with the uncertainties that the automotive industry is facing and to be more adaptable to change. Gestamp is actively working on a model of a connected, smart, virtualised, safe and scalable factory that can be flexibly, swiftly and efficiently adapted to the constantly changing needs of the industry. 26
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4. Innovation and Key R&D Factors Gestamp's long-term vision is firmly anchored in its commitment to supporting customers as they face the increasingly complex challenges of the automotive sector. The company's approach is distinguished by its dedication to collaborative innovation, working closely with customers to jointly develop advanced solutions that integrate perfectly into the design and engineering of the vehicles of the future. This collaborative model not only anticipates market trends but also ensures Gestamp remains at the forefront of technological progress. Innovation The strategic role of innovation At Gestamp, innovation is not just an aspiration, but a fundamental strategic pillar that permeates every aspect of the organisation. The company considers research and development to be a fundamental engine of progress, allowing it to anticipate emerging technological trends and offer products that set new standards in efficiency, weight optimisation, cost-effectiveness, quality, comfort, safety, and sustainability. By fostering a culture of innovation, Gestamp constantly generates distinctive value for its customers and the market in general. Gestamp's innovation ecosystem is structured around a robust portfolio of interconnected projects, each designed to generate proprietary solutions that differentiate the company within the sector. This framework allows Gestamp to develop and industrialise technologies and products that reinforce its leadership position and respond proactively to the changing needs of the automotive landscape. Global R&D network and collaborative development With a network of 13 R&D centres strategically located around the world, Gestamp recognises that sustained innovation is essential to securing a competitive advantage and achieving a unique market position. The company's R&D teams work closely with customers, participating from the early concept phase through to series production. This collaborative process, which can span several years, allows Gestamp to address immediate needs while simultaneously co- creating the concepts, technologies, and solutions that will define the vehicles of the future. In 2025, Gestamp significantly expanded its portfolio of forward-looking projects, undertaking more than 500 co-development initiatives covering bodywork, chassis, and mechanisms. These efforts are supported by significant investments in R&D infrastructure and talent, which have reinforced the company's reputation as a trusted strategic partner to major automakers. 27
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By year-end, Gestamp's workforce dedicated to innovation exceeded 1,700 professionals, distributed across its R&D centres and production facilities worldwide. The company's multidisciplinary approach ensures that specialised knowledge in research, stamping, metrology, welding, and quality engineering is integrated throughout the entire development lifecycle, fostering seamless collaboration between product and process teams from the initial conception phase. PILLARS OF R&D EXCELLENCE Safety as a fundamental principle At Gestamp, the pursuit of safety is not just a guiding value, but a fundamental commitment that permeates every aspect of our research, development, and industrial operations. In an automotive context characterised by increasingly stringent global regulations and evolving mobility paradigms, the company has positioned itself at the forefront of innovation, proactively anticipating and exceeding requirements established by international standards and legislative frameworks. Our approach to safety is holistic and future-oriented. We allocate significant resources to the continuous development of advanced solutions that improve protection for both vehicle occupants and vulnerable road users, such as pedestrians and cyclists. This commitment is reflected in our pioneering work in the field of hot stamping, a field in which Gestamp is internationally recognised as a leader. This technology allows for the manufacture of components with an exceptional strength-to-weight ratio, enabling the creation of lighter and, at the same time, considerably more robust structural elements. These innovations are essential to meet and even exceed the latest impact safety and pedestrian protection requirements demanded by regulatory bodies in major markets. Our engineering teams collaborate closely with car manufacturers to ensure that every new product is conceived under the highest safety standards. Through the use of high- strength steels, advanced simulation tools, and rigorous testing protocols, we design components that maximise energy absorption and maintain structural integrity during a collision. This not only elevates passive safety in both chassis and bodywork applications but also supports our customers in complying with the latest international regulations and ratings, such as Euro NCAP, NHTSA, and other reference bodies. 28
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In addition to occupant protection, Gestamp is deeply committed to the development of innovative passive safety systems that respond to the growing regulatory focus on pedestrian protection. Our mechanisms division, for example, has developed advanced bonnet hinge systems and energy-absorbing structures specifically designed to reduce the risk of injury to pedestrians in the event of an impact. These solutions are conceived to respond dynamically to collision scenarios, providing an additional layer of protection aligned with the most recent legislative trends. Likewise, our commitment to safety goes beyond regulatory compliance. We actively participate in sector forums and continuously monitor regulatory trends to anticipate future demands, ensuring our R&D roadmap is always aligned with the evolution of global safety policies. By integrating state-of-the-art materials, innovative joining techniques, and digital engineering methodologies, Gestamp not only meets established standards but frequently sets new benchmarks in safety within the automotive sector. Ultimately, safety is part of Gestamp's DNA. Through constant innovation, strategic investment in advanced technologies, and a proactive attitude towards regulatory change, we offer solutions that protect lives, support our customers' compliance efforts, and contribute to the common goal of safer mobility for all. Structural lightening and reduction of emissions One of the central pillars of Gestamp's research and development strategy is the constant pursuit of vehicle weight reduction, a discipline that has become increasingly important in the context of modern mobility. Through the systematic reduction of the mass of automotive components—especially those that make up the chassis and bodywork, which account for a significant proportion of the vehicle's total weight— Gestamp directly contributes to improving fuel efficiency and achieving a notable reduction in CO₂ emissions. This commitment to lightweight design is particularly important in the era of transport electrification. The incorporation of high-capacity batteries, essential for electric vehicles, inherently increases their mass. Through the development of advanced materials and multi-material solutions, Gestamp enables manufacturers to offset this additional weight, thereby maximising the range of electric vehicles, a key factor in their adoption and consumer satisfaction. Lighter vehicles require less energy to operate, which translates into longer distances per charge and a more sustainable use of resources. To ensure that these innovations generate tangible environmental benefits, Gestamp applies rigorous methodologies for the Life Cycle Analysis (LCA) from the early stages of product design. This comprehensive approach assesses the environmental impact of each component throughout its entire life cycle, from the extraction of raw materials to final recycling. By prioritising the reduction of material use and the optimisation of component weight, Gestamp significantly reduces the carbon footprint associated with both the manufacturing process and the operational phase of the vehicle. Gestamp also maintains a firm commitment to sustainability throughout its value chain. The company works closely with its suppliers to ensure that the sourcing, 29
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processing and transport of materials meet the highest environmental standards. Through the adoption of renewable energy, applying the principles of the circular economy and the continuous improvement of its logistics and production processes, Gestamp aims to achieve near-zero emissions not only in its own operations, but also in its broader supply network. This holistic vision means that every innovation in structural lightening is designed to not only meet, but to exceed, the most demanding industry and regulatory sustainability requirements. By integrating advanced materials, pioneering manufacturing techniques and robust environmental management systems, Gestamp ensures that its solutions contribute to a cleaner, more efficient and responsible automotive industry. The result is a product portfolio that enables manufacturers to offer vehicles with greater range, lower emissions and a reduced environmental footprint, benefiting customers, communities and the planet as a whole. Improving comfort and user experience At Gestamp, the pursuit of excellence goes beyond safety and sustainability, encompassing the comprehensive improvement of comfort and the driving experience for end users. In today's automotive landscape, the user experience has become a decisive factor in vehicle choice and brand loyalty. Well aware of this, at Gestamp we have made it a strategic priority to anticipate and respond to the changing expectations of drivers and passengers. The company's commitment to the user experience is reflected in the development of a wide range of components and systems that are meticulously designed to offer superior comfort, greater convenience and intuitive interaction with the vehicle. Through its subsidiary Edscha, specialized in mechanisms and mechatronics, Gestamp has promoted advanced solutions such as electric and assisted door opening systems, active front trunks (active frunks) and sliding doors equipped with smart sensors. These innovations not only facilitate vehicle access and operation, but also incorporate sophisticated safety features that prevent accidental collisions with obstacles, thus improving the comfort and protection of all occupants. Beyond the mechanisms, Gestamp's experience and technical knowledge in the design and engineering of body-in-white (BIW) and chassis components play a key role in the quality of the vehicle's interior environment. Through the use of advanced materials and precision engineering, the company develops structures that minimise noise, vibration and harshness (NVH), providing a quieter and more refined compartment for occupants. The integration of lightweight, high-strength materials not only contributes to dynamic performance and safety, but also enables the optimal functioning of comfort-oriented elements such as electric tailgates, assisted steps and acoustic reduction technologies. The growing market demand for greater comfort and an enhanced driving experience is evident in the expansion of these advanced systems across all vehicle segments. Gestamp has been at the forefront of this development, supplying premium solutions for high-end vehicles and SUVs, and is in a privileged position to promote the 30
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widespread adoption of these features as they become standard in conventional models. Furthermore, the company's multidisciplinary approach—combining the expertise of its R&D centres, Edscha's innovation and advanced design of body and chassis components—ensures that each product is designed with the end user in mind. This collaborative spirit enables Gestamp to offer solutions that not only meet but exceed expectations in terms of comfort, usability and driving pleasure. In short, Gestamp's approach to innovation and R&D is characterised by a collaborative, long-term and user-centred philosophy. By investing in advanced technologies, fostering strategic alliances and maintaining a constant commitment to the user experience, the company continues to set new benchmarks for excellence in the global automotive industry. Gestamp Electric Vehicle Concept Electrification is an unstoppable trend in the automotive industry, driven by factors such as rapid urban population growth, the urgent need to improve air quality and the global commitment to decarbonisation. In this dynamic context, Gestamp's strategy is to provide constant support to its customers by developing cutting-edge innovations that facilitate their transition to electrified mobility. The company's vision is not limited to a single technology or type of vehicle, but encompasses the entire spectrum of electrification: from hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) to battery electric vehicles (BEVs) and extended-range electric vehicles (EREVs). In the specific case of PHEVs, Gestamp develops solutions tailored to the particular requirements of this type of propulsion, such as the optimal integration of batteries and electric motors, while preserving safety, interior space and a low overall vehicle weight. The design and manufacture of new chassis and body components for PHEVs focuses on achieving lightweight and robust structures capable of meeting the demands of both electric driving and traditional combustion. Gestamp also pays special attention to battery protection and efficient energy management in the event of an impact, thus contributing to the overall safety and performance of the vehicle. From the Technology and Innovation Office, multidisciplinary teams work on the development of a comprehensive portfolio of solutions that respond to the specific needs of each electrification pathway. In the case of BEVs, Gestamp is at the forefront of the development of new battery box concepts and chassis components designed specifically for electric architectures. These solutions are designed to meet and exceed conventional requirements for durability, rigidity and strength, while optimising the challenges specific to electric vehicles, such as reducing noise transmission, maximising energy absorption in collisions and adapting to the low centre of gravity and increased mass derived from battery systems. A fundamental principle guiding Gestamp's innovation is the strategic use of materials: "the right material in the right place". By leveraging advanced high-strength steels, lightweight alloys and multi-material architectures, the company is able to reduce the 31
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overall weight of the vehicle without compromising safety or performance. This weight reduction strategy is particularly critical in electric vehicles, plug-in hybrids (PHEVs) and extended-range electric vehicles (EREVs), where every kilogram saved translates directly into greater range and improved energy efficiency. In PHEVs and EREVs, where optimising the range is essential, Gestamp's solutions enable manufacturers to offer vehicles with excellent operational performance and superior comfort. Gestamp's engineering teams also recognise that BEVs and PHEVs behave differently in the event of a collision, mainly due to their greater weight and the low centre of gravity of the battery system. The additional mass derived from the batteries increases the potential energy during an impact, requiring innovative approaches to managing impacts and protecting occupants. In response, Gestamp has developed a wide range of body and chassis components specifically designed to improve the safety of BEVs, PHEVs and EREVs, ensuring the protection of both passengers and battery packs in all circumstances. Gestamp's commitment to innovation extends beyond pure electrification. The company has collaborated on a wide variety of mobility projects, including long- distance vehicles, compact urban cars, urban public transport solutions and last-mile delivery vehicles. This versatility demonstrates Gestamp's ability to adapt its technologies to the specific needs of each application, driving the sector's evolution towards a more sustainable, efficient and user-centred future. In short, Gestamp's electric vehicle concept represents a comprehensive and innovative approach that combines advanced engineering, materials science and a deep understanding of trends in electrification. By supporting all forms of electrified mobility — including conventional hybrids, plug-in hybrids (PHEVs), battery electric vehicles (BEVs) and extended-range electric vehicles (EREVs) — Gestamp enables its customers to meet the mobility challenges of the future, offering safer, lighter, more efficient vehicles that are aligned with the demands of a modern and sustainable society. 32
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Gestamp's main innovations GESTAMP LAB: Automotive Component Testing Laboratory Gestamp's commitment to technological leadership is embodied in G-Lab, the company's advanced virtual laboratory for testing automotive components. G-Lab is a key R&D initiative that leverages the latest digital prototyping tools to rigorously evaluate the performance of new components and body technologies across a wide range of vehicle architectures. As Gestamp's most prominent safety project, G-Lab is fundamentally focused on prevention, integrating safety considerations throughout the entire process of designing, developing and manufacturing vehicle components. The programme was conceived with the ambition of achieving the highest standards in virtual testing for all types of collisions and impact scenarios, covering multiple vehicle segments and propulsion configurations. One of G-Lab’s distinctive features is its ability to perform complete collision simulations using comprehensive digital vehicle models during the co-development process with customers. This collaborative approach allows Gestamp to anticipate and address safety challenges from the earliest stages of the product life cycle, ensuring that new solutions are thoroughly validated before physical prototypes are produced. By integrating virtual testing into the development flow, G-Lab accelerates the design, validation and approval phases, significantly reducing time to market while maintaining the highest levels of quality and safety. G-Lab's versatility is reflected in its set of virtual models, which include internal combustion engine (ICE), plug-in hybrid (PHEV), battery electric (BEV) and extended range electric (EREV) vehicles. This comprehensive coverage allows Gestamp to predict and evaluate the impact of new technologies, innovative designs and advanced materials on both body and chassis systems, considering critical factors such as weight, structural performance, energy absorption and cost efficiency. The inclusion of extended-range vehicles and various electrification strategies within the G-Lab testing framework is particularly relevant. As the automotive industry moves towards a wide range of electrified mobility solutions, Gestamp's ability to simulate and optimise components for BEVs, PHEVs, EREVs and conventional vehicles ensures that its innovations are effective and applicable to all market segments. This holistic approach favours the development of lightweight, high-performance solutions that improve safety, increase energy efficiency and contribute to the sustainability goals of Gestamp and its customers. In short, G-Lab positions Gestamp at the forefront of digital engineering and virtual validation in the automotive sector. By enabling rapid and reliable evaluation of new concepts in a virtual environment, Gestamp offers world-class body and chassis solutions tailored to the demands of new mobility and focused on safety, lightness and 33
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sustainability in all types of vehicles, including the latest generation of electrified and extended-range models. New materials: leading the future of automotive structures As part of its ongoing effort to develop safer and lighter products, Gestamp is at the forefront of research and implementation of new materials applied to the automotive sector. The company recognises that the structural materials landscape is undergoing a profound transformation and anticipates a significant transition in the coming years towards the adoption of advanced aluminium alloys, high-performance steels, composite materials and innovative multi-material hybrid structures. • High-strength and ultra-high-strength steel: Gestamp continues to invest in the development and application of advanced high-strength steels (AHSS) and ultra- high-strength steels (UHSS). These materials are essential for reinforcing critical areas of the vehicle, especially the passenger compartment, to provide superior protection in the event of a collision. The latest generations of AHSS and UHSS, designed specifically for hot stamping processes, offer exceptional strength-to-weight ratios and greater formability. This allows for the creation of complex geometries and highly integrated components that meet the most demanding safety standards, while contributing to the reduction of the vehicle's overall weight. • New generation aluminium alloys: aluminium plays an increasingly important role in the design of lightweight automotive structures. Gestamp applies the new aluminium alloys, especially those developed for high-performance applications in body and chassis systems. These advanced alloys are used in a wide variety of components, including exterior panels, door assemblies and, in particular, battery boxes for electric vehicles. Thanks to the unique properties of these alloys—such as their high energy absorption capacity, corrosion resistance, and excellent impact behaviour— Gestamp offers solutions that not only reduce vehicle mass but also improve occupant safety and structural integrity in the event of a collision. • Composite materials and multi-material hybrid structures: the drive to reduce the weight of electric and high-end vehicles has accelerated the adoption of composite materials, including carbon fibre-reinforced polymers and advanced thermoplastics. Gestamp collaborates with leading manufacturers to integrate these materials into structural and semi-structural components, achieving significant weight reductions and greater efficiency. 34
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The company's commitment to innovation is also reflected in its investment in new technologies and manufacturing processes that enable the seamless integration of multi-material hybrid structures. This approach—which embodies the philosophy of "the right material in the right place"—enables the optimal combination of steel, aluminium and composites, resulting in lighter, stronger and more sustainable parts. • Lightweight solutions for chassis applications: recognising the fundamental role of the chassis in vehicle dynamics and safety, Gestamp is also promoting the use of lightweight materials in chassis components. The company is analysing new alloys and materials designed specifically for subframes, suspension arms and other load-bearing elements. These innovations not only help reduce vehicle weight and improve manoeuvrability, but also support overall energy efficiency and emissions reduction goals. The strategic role of the Research Department One of Gestamp's distinguishing factors is the strategic role played by its Research Department in the materials innovation process. This department is responsible for the rigorous analysis and validation of all candidate materials, ensuring that each new alloy or composite material meets the highest standards of performance, durability and manufacturability. So-called material cards — comprehensive data sets describing the mechanical and physical properties of materials — are meticulously developed and validated for use in product and process simulations. This capability gives Gestamp a significant competitive advantage by enabling high-precision virtual prototyping, predictive impact simulations and process optimisation long before the physical parts are produced. By integrating materials science, advanced simulation and real-world testing, Gestamp ensures that each new material added to its portfolio delivers tangible benefits in terms of safety, weight reduction and sustainability. This holistic approach positions Gestamp as a leader in the development of next-generation automotive structures, ready to respond to the changing demands of the industry and society. 35
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TECHNOLOGICAL DEVELOPMENT Gestamp's R&D teams are at the forefront of technological advancement, continuously developing and refining new technologies to respond to the changing needs of customers and the automotive industry as a whole. Their mission is to improve the performance, safety and sustainability of vehicles, with a special focus on weight reduction and structural integrity optimisation across all product lines. • Advanced steel and innovative design A clear example of this commitment is the introduction of new generations of advanced cold-formed steel. These materials have significantly improved strength properties, enabling substantial reductions in vehicle weight without compromising safety or durability. Drawing on their extensive experience in forming processes and chassis product development, Gestamp engineers apply innovative design methodologies to create high-performance components that extend service life and minimise weight. This is achieved through the use of proprietary optimisation tools, which, combined with in- depth knowledge of advanced manufacturing processes, typically result in weight reductions of 10 to 15%. Furthermore, the implementation of new painting and coating processes has further improved corrosion protection, ensuring long-term reliability even under demanding conditions. • Hot stamping: multi-stage processes and material innovation In the field of hot stamping, Gestamp continues to push the boundaries of what is possible. The continuous development of Ges-Multistep technology has optimised hot stamping processes for a wide variety of steels, including state-of-the-art zinc-coated materials, which offer superior corrosion resistance. The company has also pioneered the development of new hot stamping methods capable of processing steels with up to 25% higher strength than previous generations. These ultra-high-strength materials undergo post-process laser treatments that give them the necessary ductility, ensuring optimal performance in the event of a collision and greater energy absorption capacity in real-world scenarios. Gestamp's research teams have developed and implemented three different partial cooling methods, which allow components with adjusted mechanical properties to be created within the same part. This approach enables precise control of hardness and energy absorption zones, resulting in superior impact performance and improved occupant protection. The ability to produce parts with "soft" zones — areas of differentiated hardness designed to absorb impact forces — represents a significant technological advance. These zones can be created during forming (using specialised tools and dies), after 36
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forming (using alternative heat sources such as lasers, induction or the Ges-Softbend process itself) or even before forming (in the heating furnace). This versatility positions Gestamp as the most advanced supplier in the hot stamping market, offering an unrivalled range of materials with different strength and coating characteristics. • Hot stamping and aluminium extrusion Recognising the growing importance of lightweight materials, Gestamp has expanded its hot stamping expertise beyond steel, incorporating aluminium into its processes. The automotive industry's drive to reduce vehicle weight—especially in large, high-end and electric models—has increased the use of aluminium in doors, chassis components and structural elements. However, the low formability and high elastic recovery of aluminium in conventional cold stamping processes have historically limited its application. Gestamp's R&D department has overcome these challenges by adapting hot stamping processes to aluminium, enabling the manufacture of parts with complex geometries, minimal elastic recovery and a significantly lower weight than their steel equivalents. Currently, both steel and aluminium can be processed on Gestamp's hot stamping lines, requiring only adjustments to the process parameters. This achievement is a clear demonstration of the company's leadership and technological flexibility, as it operates the largest number of hot stamping lines in the entire industry. Gestamp has also developed advanced aluminium extrusion processes for the manufacture of battery boxes and other critical components. These processes enable the production of highly ductile large-section profiles, making it possible to create ultra-lightweight structures that offer robust protection for electric vehicle batteries. • Advanced material joining: innovation and patents G e s t a m p ’ s c o n t i n u o u s i n n o v a t i o n i n m a t e r i a l - j o i n i n g t e c h n o l o g i e s c o n t r i b u t e s t o i t s developments in comfort, safety, and structural lightweighting. In 2025, Gestamp obtained several new patents related to advanced joining methods, aimed at solving the challenges posed by combining dissimilar materials, such as high- strength steels, aluminium alloys and composite materials. Among these patented solutions, the pioneering use of laser technology in critical components such as door rings stands out, positioning the company as a benchmark in this type of application. These solutions enable the creation of robust multi-material structures, optimising weight, durability and impact behaviour. Gestamp’s extensive experience in laser welding, self-piercing riveting and hybrid joining techniques ensures that each component meets the highest standards of structural integrity and long-term reliability, even in a context in which vehicle architectures are becoming increasingly complex and lightweight. 37
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• Hot stamping: process leadership and competitive advantage Gestamp's technological leadership is reinforced by its pioneering work in the field of hot stamping. In 2025, the company obtained several process patents that have made its hot stamping operations more efficient and competitive than ever. These innovations include advanced temperature control systems and the generation of zones with specific mechanical properties within the same part, enabling an unprecedented level of precision in strength and energy absorption. The ability to produce components with differentiated hardness and ductility in strategic areas not only improves impact performance, but also facilitates the integration of lightweight materials without compromising safety. Gestamp's patented hot stamping processes have established themselves as industry benchmarks, enabling the manufacture of both steel and aluminium components with exceptional formability and minimal elastic recovery. This technological flexibility allows manufacturers to meet the most demanding requirements of electric, hybrid and extended-range vehicles, while maintaining cost efficiency and production scalability. As a result, Gestamp remains the undisputed technological leader in hot stamping, offering its customers a comprehensive portfolio of materials, coatings and joining solutions that set new standards for the automotive industry. • Research Department: leadership in materials analysis and simulation One of Gestamp's main differentiating factors is the central role played by its Research Department in materials innovation. This department is responsible for the comprehensive analysis, testing and validation of all new materials, whether advanced steels, new-generation aluminium alloys or hybrid multi-material structures. Its functions include the development of material cards, detailed data sets that are essential for accurate product and process simulations. These cards contain the mechanical, thermal and physical properties of each material, enabling high-precision virtual prototyping, impact simulations and process optimisation. By integrating materials science with advanced simulation capabilities, Gestamp ensures that each new material and process delivers measurable benefits in terms of safety, weight reduction, manufacturability and sustainability. This comprehensive approach to technological development, combining advanced materials, innovative processes and rigorous research, positions Gestamp as a global leader in automotive engineering. Continuous investment in R&D, state-of-the-art manufacturing technologies and digital simulation enables the company to offer solutions that meet the highest standards of performance, efficiency and environmental responsibility, both for today's vehicles and those of the future. 38
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PRODUCT DEVELOPMENT At Gestamp, product innovation is driven by the strategic application of advanced technologies aimed at creating lighter and more efficient components that are adapted to the changing demands of the automotive industry. In 2025, the company has reinforced its commitment to sustainable mobility and high performance by investing in disruptive solutions in the areas of body-in-white, chassis and mechatronic systems. BODYWORK Extreme Size Parts and energy modules Gestamp commercialises its GES-GIGASTAMPING® and GES-ENUBOX® product lines, responding to the growing trend in the sector towards large parts. In 2025, the company has further increased the dimensions of these components, setting new records and receiving an excellent response from customers, who value the integration and simplification that these solutions bring to manufacturing processes. This advance has been made possible by Gestamp's patented solutions in both hot stamping and advanced material joining technologies. These innovations enable the production of bodywork components of unprecedented dimensions, significantly reducing the number of individual parts required. As a result, assembly processes are optimised, production complexity is reduced and the internal manufacturing costs of original equipment manufacturers (OEMs) are lowered. In addition, manufacturing vehicles with fewer components directly contributes to improving market competitiveness by generating fewer potential points of failure and greater efficiency on the production line, while maintaining the highest standards of safety and structural integrity. In the field of battery box innovation, Gestamp has developed solutions that combine lightness and corrosion resistance, two key requirements for vehicle electrification and durability. Thanks to the advanced use of materials such as aluminium and composites, together with specific coatings and patented joining techniques, Gestamp's new battery boxes offer optimised mass and superior protection against aggressive environments. As for GES-ENUBOX® energy modules, a compact, high-capacity module has been designed for electric vehicles, which can be manufactured in both steel and aluminium, maximising energy storage while minimising weight. For urban mobility, lightweight and compact solutions have been introduced that use not only aluminium but also composite materials, further improving efficiency and sustainability. 39
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CHASSIS Lightening, new alloys, advanced materials and electrification. Gestamp maintains its leadership in chassis systems thanks to a firm commitment to innovation in materials and manufacturing technologies, particularly notable for its pioneering use of carbon fibre reinforced composites and advanced aluminium alloys. Ongoing research and development activities have led to the incorporation of new- generation aluminium alloys, specifically designed to maximise mechanical strength and durability without increasing weight. Gestamp is also exploring the use of hybrid alloys that combine light metals and composite materials, resulting in structures that are more efficient and adaptable to the demands of electrified vehicles. In 2025, the company took a further step forward by integrating electric motors directly into vehicle subframes. These innovative solutions not only support the electric propulsion system, but also optimise weight distribution and reinforce safety in the event of a collision. The new subframes incorporate energy absorption zones made of multiphase aluminium and magnesium alloys, as well as high-strength polymers and carbon fibre composites. This combination of materials improves energy management during impacts and offers superior protection to occupants, while increasing the vehicle's dynamics and performance. Aluminium remains a central element in Gestamp's weight reduction strategy. The company has expanded its in-house capabilities for the design and manufacture of aluminium chassis components, increasing corrosion resistance and toughness and enabling weight reductions of up to 30% compared to equivalent steel structures, a key factor in the transition to zero-emission vehicles. Gestamp also applies specialised extrusion and welding techniques to these alloys, ensuring maximum efficiency in production and assembly processes. The drive towards advanced materials also extends to polymer matrix composites reinforced with natural fibres, which offer a sustainable alternative for certain chassis components. These solutions not only contribute to weight reduction, but also reduce the carbon footprint and improve recyclability at the end of the vehicle's life cycle. The combination of innovative materials with patented joining and forming processes positions Gestamp at the forefront of sustainable chassis development, with solutions suitable for both fully electric vehicles and hybrid platforms. In short, continuous investment in new alloys and advanced materials reinforces Gestamp's commitment to energy efficiency, sustainability and safety, consolidating its position as a technological leader in the automotive sector. 40
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EDSCHA: Mechanisms and mechatronics Edscha continues to raise the bar for innovation in the field of automotive mechanisms and mechatronics. Recognised for its commitment to technological excellence, the company has established itself as a benchmark in the development of solutions that precisely combine mechanical engineering and advanced electronic control systems, becoming a key player in the evolution of modern vehicles. In 2025, Edscha introduced the second generation of its renowned Power Door system, setting a new benchmark in vehicle access and egress safety. This new version incorporates a wide range of advanced sensors capable of detecting both static and moving obstacles in the immediate vicinity of the vehicle. The sensor array is designed to recognise pedestrians, cyclists, parked vehicles and other potential hazards, actively preventing collisions when doors are opening or closing. This proactive safety feature is particularly useful in urban environments, where space is limited and the risk of accidental contact is greater. At the heart of the Power Door system is a state-of-the-art electronic control unit (ECU) that manages all system operations with maximum efficiency and reliability. This ECU is supported by proprietary software developed by Edscha, which enables seamless communication with the vehicle's environmental monitoring systems. As a result, the system not only responds to direct physical obstacles, but can also integrate data from cameras, radars or ultrasonic sensors already present in the vehicle, offering a comprehensive safety and comfort solution. Its intuitive user interface allows drivers and passengers to operate the doors automatically or manually, with real-time information about the environment and nearby objects. Edscha has also made significant advances in functionality and safety for electric vehicles with its innovative Active Frunk system. Designed specifically for electric vehicle (EV) platforms, the Active Frunk transforms the traditional front compartment into a fully motorised, automatically accessible storage space. The system uses precision actuators and sensors to ensure smooth and reliable operation, allowing the compartment to be opened or closed with a single touch or via remote control. In addition, the Active Frunk incorporates active pedestrian protection features: if the system detects the presence of a person near the front of the vehicle, it stops operation and emits an alert, minimising the risk of injury. This dual functionality responds both to the growing demand for practical storage solutions in electric vehicles and to the need to improve pedestrian safety in urban environments. Expanding its expertise in automotive mechanisms, Edscha has developed a new generation of electric sliding door systems, suitable for both passenger vehicles and commercial fleets. This new product leverages the company's extensive experience in mechanical engineering, integrating advanced electronic controls that ensure precise and effortless door movement. The electric sliding door system is designed to optimise comfort and accessibility: the doors can be operated remotely or via touch panels, and advanced anti-pinch sensors immediately stop operation if an obstruction is detected. 41
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This not only improves passenger safety—especially for children or people with reduced mobility—but also enhances the user experience, making entry and egress from the vehicle smoother and more reliable. The system is also designed for high durability and low maintenance, capable of withstanding intensive use in demanding environments such as public transport and delivery vehicles. Through these cutting-edge innovations—the Power Door, Active Frunk and electric sliding door—Edscha demonstrates its commitment to the evolution of the automotive sector, combining advanced sensor technology, proprietary software and precision engineering to deliver solutions that improve safety, comfort and accessibility for drivers and passengers. As part of the Gestamp group, Edscha remains at the forefront of integrating mechatronics into modern mobility, setting new benchmarks for the global automotive industry. 42
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Participation in strategic events During 2025, Gestamp actively participated in various strategic events. These ranged from international trade fairs and technology events to meetings held at different customers’ facilities, as well as multiple internal events aimed at fostering knowledge transfer and strengthening Gestamp’s positioning as an innovative leader. The year 2025 showed that the best way to promote innovations, technologies and p r o d u c t s i s t h r o u g h i n - p e r s o n e v e n t s . O n l i n e f o r m a t s h a v e b e e n l e f t b e h i n d ; t h e y r e m a i n a c o m p l e m e n t a r y t o o l , b u t w h a t c u s t o m e r s d e m a n d i s f a c e - t o - f a c e i n t e r a c t i o n and the ability to see our products physically. During this period, Gestamp followed a strategic schedule that included key events, trade fairs, conferences and other activities across various regions and audiences around the world, as in previous years. Gestamp also participated in activities organized by customers and other stakeholders, such as universities, associations and business partners. Technology events and public trade fairs A central pillar for Gestamp is technology events and public trade fairs. These events provide deeper insight into innovative concepts and advancements, aimed at both a t e c h n i c a l a n d p r o f e s s i o n a l m o b i l i t y - s e c t o r a u d i e n c e , a s w e l l a s o t h e r r e l a t e d i n d u s t r i e s . In 2025, technical experts from Gestamp’s Technology & Innovation department had the opportunity to attend several major automotive conferences in key regions such as Europe—particularly Germany—China, Japan, India, the United States and Brazil. Throughout 2025, Gestamp had the opportunity to showcase parts developed jointly w i t h v a r i o u s c u s t o m e r s w i t h i n c o - d e v e l o p m e n t p r o j e c t s , p a r t i c i p a t i n g i n n o t a b l e technology events such as Aachen Engineering Days and EuroCarbody. At automotive and mobility fairs, Gestamp presented its latest innovations to the market and the public, reinforcing its position as a leading international automotive components supplier. The most prominent events in which Gestamp participated were Bharat Mobility in New Delhi (India) in January, Autoshow Shanghai in China in April and the Automotive Engineering Expo in Yokohama, where Gestamp took part for the second consecutive year. G e s t a m p p r e s e n t e d c u t t i n g - e d g e s o l u t i o n s a n d t e c h n o l o g i e s a c r o s s a l l a r e a s o f innovation (BIW, chassis and mechanisms), designed to meet the most demanding safety standards while reducing CO₂ emissions and maintaining cost efficiency. At all e v e n t s , G e s - G i g a s t a m p i n g w a s s h o w c a s e d , w i t h t h e a i m o f s u p p o r t i n g O E M s i n t h e i r transition towards a new era of mobility and their path toward electrification. 43
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Events with customers Throughout the year, Gestamp also participated in various events across the countries where it operates, strengthening its relationships with customers and consolidating its role as a trusted supplier. These meetings provided Gestamp’s Technology & Innovation professionals, as well as its commercial team, the opportunity to present and explain their innovations and products directly at customers’ facilities. Commercial and Technology & Innovation teams attended several technical events organized at the sites of Gestamp’s customers in countries such as Brazil, Argentina, India and the Czech Republic. These meetings facilitated future collaborations and technological advances within the automotive industry. Internal corporate events Digital Summit In 2025, Gestamp held its internal Digital Summit for the second consecutive year, a forum dedicated to presenting the latest developments in digital innovation, advances in Artificial Intelligence (AI), and the future of Industry 4.0. During the sessions, participants fostered an environment of knowledge transfer and highlighted the value of digitalization in further positioning Gestamp as an innovation leader. 2025 Events Timeline • January 2025: Bharat Mobility Global Expo in New Delhi (Public fair) • February 2025: GTI Opening Mexico (Corporate event) • March 2025: ◦ Tech Shows in Brazil (Customer event) ◦ Edscha Gestamp Tech Show in the Czech Republic (Customer event) • April 2025: AutoShow Shanghai in China (Public fair) • May 2025: ◦ General Shareholders’ Meeting (Corporate event) ◦ Great Design Steel in the USA (Technology event) ◦ Automotive Engineering Expo Yokohama in Japan (Public fair) • June de 2025: Edscha Engineering Days (Internal event) • September 2025: ◦ 9th SAE BRASIL CarBody Symposium (Technology event) ◦ Aachen Body Engineering Days in Germany (Technology event) • October 2025: EuroCarBody (Technology event) • November 2025: Doors & Closures in Car Body Engineering (Technology event) • December 2025: ◦ Edscha Gestamp Tech Show in Germany (Customer event) ◦ Operational Excellence Session 2025 (Internal corporate event) ◦ Leadership Meeting 2025 (Internal corporate event) 44
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5. Intellectual property, data protection, cybersecurity and artificial intelligence Intellectual and industrial property Gestamp considers intellectual and industrial property rights, and the implementation of the related trade secrets and know-how, to be integral to the competitive advantage of our business. Therefore, Gestamp focuses its efforts and invests resources in submitting, registering, maintaining, monitoring and defending our intellectual and industrial property rights. These intellectual and industrial property rights cover both the technologies, processes and products encompassed in Gestamp's core business, as well as those technologies aimed at optimising and increasing the flexibility and efficiency of processes and the quality of the products in the area of Industry 4.0. Many of the technologies and processes that we use stem from the knowledge, experience and skills of our scientific and technical personnel. In some cases, these technologies and processes are patented and protected through intellectual and industrial property rights, while others are protected through trade secrets. To protect our trade secrets, know-how, technologies and processes, we formalise confidentiality agreements with employees, clients, suppliers, competitors, contractors, consultants, advisors and collaborators that prevent confidential information from being disclosed to third parties. Gestamp protects its pre-existing intellectual and industrial property rights and does not transfer them to any collaboration partners, clients, suppliers, competitors or third parties. Where development agreements are formalised, we assert ownership over intellectual and industrial property rights that may arise in relation to those agreements and which are connected to or based on company know-how, trade secrets, technology and processes. As of 31 December 2025, Gestamp has more than 1,400 patents, utility models and corresponding applications. Anti-Counterfeiting Measures The use of original/authentic parts is a pre-requisite for the proper functioning and maintenance of vehicles throughout their service life. Beyond the law’s prohibition of using counterfeit parts, Gestamp is aware of how a counterfeit component can compromise the integrity of a vehicle in terms of safety and performance. Gestamp has identified two stages in its manufacturing process in which there is a potential risk of counterfeit parts making their way into the value chain. Although there is a low likelihood of this happening, the company has established measures to reduce the risk to a minimum: 45
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• Acquisition of counterfeit parts in the purchasing process: as a first-class supplier, most of the goods acquired by the company are materials; nevertheless, where a final product is acquired, suppliers must guarantee that there is no risk of selling counterfeit products to Gestamp. • Withdrawal of defective parts: the company takes care to ensure that non- compliant products that are not undergoing checks or repairs – and therefore must be discarded – are rendered unusable prior to disposal, to prevent their potential return to the supply chain as a counterfeit part. Gestamp has built and maintains quality management systems that have the international certifications required by customers, above all the IATF 16949 standard. These management systems aid Gestamp’s continuous improvement by focusing on the customer and promoting safe, sustainable prevention through detection, resulting in fewer defects and less waste in the supply chain. The aim is to bring the whole of the company’s manufacturing activity in line with the quality expectations of customers and with international standards, to ensure the maximum quality and efficiency of manufacturing processes, and to comply with customers’ specifications throughout these processes until the delivery of the final product. Personal data protection Gestamp is committed to the protection of personal data. Therefore, within the Group we are constantly adapting and boosting our resources to comply with the personal data protection legislation in force in the regions where Gestamp operates and/or carries out personal data processing activities. In this regard, Gestamp has a Data Protection Policy aligned with the General Data Protection Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016 (GDPR), which sets out guarantees and principles, as well as the main obligations and rights in terms of personal data protection at Gestamp Group companies. This Data Protection Policy is the core of Gestamp Group’s commitment to the protection of the fundamental rights and freedoms of natural persons and, in particular, their right to personal data protection. Gestamp continually strives to implement any and all mechanisms that are required in order to ensure that personal data remain secure and to prevent tampering, loss, or unauthorised processing or access, even in regions that are beyond the scope of application of this GDPR, by adapting the Data Protection Policy to local laws. As such, Gestamp Group standards are applied across all regions in which we operate, are present and/or conduct personal data processing activities. Since these standards are based on the GDPR, in several regions they are stricter than national regulations. 46
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Moreover, the Group has conducted a risk assessment of the corporate applications that process personal data, to evaluate the security measures implemented, and it has developed a procedure for the execution of privacy impact assessments (PIA) that determines the level of risk entailed whenever data are processed with a view to establishing the most appropriate control measures to limit this risk. Furthermore, the training of our employees is crucial to the success of any new project. Therefore, to ensure compliance with and implementation of the GDPR, the Group has offered face-to-face training sessions for certain corporate services employees who regularly work with personal data, thus providing them with theoretical and practical information about how to apply the GDPR. In addition, there is an online data protection training course available to employees free of charge and accessible at any time. Cybersecurity Gestamp’s cybersecurity governance programme is built on the need to protect company data and safeguard the supply chain and business continuity processes. The mission of cybersecurity at Gestamp is to protect the group's reputation and to be a trusted partner for our customers, ensuring governance and secure practices across the entire group. Strategy One of the main challenges that Gestamp faces today relates to cybersecurity, which is why the company has a Strategic Cybersecurity Plan built on risk management, with periodic updates, based on international standards and best practices. This plan includes projects and initiatives that allow adaptation to new requirements. Gestamp strives to maintain its competitiveness by having a well-defined and informed strategy, with clear objectives that enhance surveillance, protection and resilience. It has 24/7 incident response support and monitoring services, with qualified staff overseeing the execution of the tasks and various initiatives, who are supported by specialist technical teams, tools and processes for both physical and logical security implemented in all its plants worldwide. Management Model and Certifications The policies and strategy for cybersecurity at the company are set out by the IT department in cooperation with the company’s business units, aligning the programme with business objectives. Gestamp has established: • Joint efforts with major suppliers and relevant companies experienced in cybersecurity, who support Gestamp in the development and implementation of strategy with solutions adapted to the company’s needs, in order to ensure the level of protection needed to address growing cyber threats and devise an effective response to potential cybersecurity incidents. • A cybersecurity framework under constant development, designed according to the best practices, standards and regulations in this area, which serves to optimise 47
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security capabilities, especially in terms of protecting assets, infrastructure and industrial systems. • Awareness-raising and training in cybersecurity, through regular campaigns with relevant topics on the subject, applicable to all the company’s employees, thus strengthening the internal culture of cybersecurity. • A programme of initiatives for optimising processes and implementing technology and security solutions, for IT and OT environments that will help to boost e-skills within the company. • Constant progress in terms of resilience, incorporating regular response simulation exercises for incidents of cybersecurity, audits and threat exposure tests on the most critical business processes. Gestamp holds IATF 16949 certifications for its operational model and business continuity processes, and is continuing to expand the coverage of TISAX / VDA (Verband der Automobilindustrie) ISA certifications across all factories, ensuring compliance with cybersecurity best practices. Gestamp maintains a rigorous approach to third-party risk management, applying specific cybersecurity controls in the supply chain. This includes the requirement for recognised certifications such as ISO 27001, assessments and surveillance mechanisms that ensure compliance and protection against emerging threats. These measures contribute to critical suppliers operating under standards that reinforce resilience and trust throughout the entire ecosystem. Actions during this period Cybersecurity, as a key strategic pillar, requires constant investment and a culture of continuous improvement that supports our business strategy and ensures sustainable growth in line with our corporate objectives. The following are the most notable aspects: • Adaptation of policies and processes within the organisation, aligned with new regulations and technologies. • Promoting good cybersecurity governance to facilitate management and decision- making. • Advancing with corresponding security certifications to ensure compliance with best practices and cybersecurity requirements. • Promotion of cybersecurity culture, and execution of training plans on the subject for employees within the company. • Advancing protection capabilities for the infrastructures that support the business, ensuring their resilience and operational continuity as part of the company's global strategy. • Gestamp reinforces its detection and response capabilities through advanced protocols that ensure the effective containment and mitigation of emerging threats. • The company has evolved its approach to third-party risk management, adapting it to regulatory requirements and the increasing complexity of the threat landscape. • Introduction of new tools and technologies to accompany the business strategy. 48
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Artificial Intelligence Since the approval of the General Artificial Intelligence Policy by the Board of Directors in December 2024, Gestamp has fully integrated its principles into internal processes, guaranteeing the development, contracting, implementation and ethical, secure and responsible use of AI in all business areas. The Policy is aligned with Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on Artificial Intelligence (AI Act) and applies to all Group companies, including in territories outside the scope of the AI Act, without prejudice to the particularities arising from local regulations applicable in each territory, which will be taken into consideration in each case. Gestamp thus applies the same standard in all territories where it operates, a standard which, being based on the AI Act, is in many territories higher than that required by national regulations. Additionally, Gestamp has a series of policies and procedures that develop in greater detail the guarantees, principles and supervision and control mechanisms contained in the Policy. As set out in the Policy and the aforementioned development documentation, Gestamp is committed to implementing fair, inclusive, unbiased and non- discriminatory AI systems and algorithms, ensuring respect for people's rights at all times and avoiding any harmful or deceptive use of AI. Likewise, Gestamp will ensure that the data used in AI systems comes from reliable sources, is contextually relevant and accurate, in line with the data quality and governance criteria defined by the Group. Gestamp also implements appropriate security measures to protect AI systems and training data against cyberattacks and unauthorised access, thus protecting the integrity and privacy of information. In line with the principle of proportionality and optimisation, AI systems will be implemented to improve and enhance process efficiency, prioritising those AI systems that are aligned with Gestamp's strategic objectives at any given time. Gestamp also ensures the robustness of its AI systems, minimising the risk of failures and maximising their performance, ensuring that these systems are flexible and adaptable to changes in the business environment. Furthermore, Gestamp will continuously update and improve its AI systems, incorporating technological innovations to maintain their efficiency and security. Moreover, through the Policy, Gestamp emphasises the people-centred approach to AI, promoting training and awareness-raising activities on the risks and possibilities of AI and fostering talent development in technical and management skills to ensure ethical, safe and responsible use of AI. Gestamp has created an Artificial Intelligence Committee to act as the Artificial Intelligence oversight and control body responsible for proposing the lines along which to develop Gestamp’s Artificial Intelligence strategy, establishing the required mechanisms for supervising and controlling application of and compliance with legal regulations as well as Gestamp's internal rules governing AI, and to supervise 49
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compliance with such mechanisms and promoting, drafting and reviewing internal regulations governing AI. Likewise, Gestamp has other supervision and control mechanisms for AI, such as the implementation of a single demand management tool through which all requests for access, development or procurement of AI tools in the Group must be made, as well as an AI project management procedure that defines the tasks and roles involved in the different phases of AI projects. Similarly, Gestamp applies a preventive strategy for evaluating and managing risks associated with AI, implementing controls to mitigate these risks and defining and implementing appropriate measures and protocols for monitoring, evaluating, reviewing and providing technical support for AI, to quickly identify and address any anomalies or unexpected behaviour in AI systems, ensuring they operate safely, efficiently and in compliance with current regulations. 50
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4. ECONOMIC STRATEGY 1. Context and business results 1.1 Macroeconomic Context and Sector Evolution According to the January 2026 update of the World Economic Outlook (WEO), the International Monetary Fund (IMF) estimates that global economic growth reached 3.3 percent year-on-year in 2025. GDP growth was in line with expectations at the beginning of 2025, demonstrating remarkable resilience despite US-led trade disruptions and a highly uncertain environment stemming from geopolitical conflicts. Growth unfolded as anticipated, supported primarily by the strength of the US and China, while global manufacturing activity remained more subdued. Throughout 2025, the gradual improvement in financial conditions, stronger-than-expected fiscal stimulus, and the private sector's ability to mitigate the effects of trade tensions helped sustain economic activity. Looking ahead, the risks to the outlook are now considered more balanced, although significant uncertainties remain stemming from the concentration of technology investment, the potential readjustment of valuations in the artificial intelligence sector, and the cumulative effects of trade restrictions. As a result, the IMF projects that global GDP growth in 2026 will remain stable at around +3.3%, supported by strong technological investment—particularly in artificial intelligence—improved economic policy frameworks in emerging markets, and the private sector's resilience, although it warns that a correction in technology markets could have significant effects on global activity. In the automotive sector, 2025 has been a year marked by a lack of visibility in production volume projections. Initially, following the announcement of reciprocal tariffs by the United States on what became known as "Liberation Day" on April 2nd, S&P Global Mobility revised its production volume estimate for the year in its April update to 87.9 million vehicles, representing a decrease of 1.6 million vehicles, or 1.8%, compared to the 89.5 million vehicles estimated at the beginning of the year. However, following the evolution of negotiations between the various countries involved and the possibility of a smaller impact than initially expected, subsequent updates throughout the year, including those of January and February 2026, have been upward, ultimately estimating 93.0 million vehicles. This recovers the April reduction and even projects an additional 3.6 million vehicles, or 4.0%, for the year compared to the February estimate at the beginning of the year. Most of this recovery from April to the end of the year was driven by growth in China. During 2025, within Gestamp's scope, the automotive sector has undergone the same upward revisions throughout the year, resulting in a 4.1% year-on-year increase in production volumes (according to S&P as of February 2026). This increase is explained by Asia and Mercosur, which have performed positively during the period, with year- on-year growth of 7.4% and 3.3%, respectively. Conversely, the regions that have experienced a decline in volumes are Western Europe (-1.9% year-on-year), NAFTA (-0.9% year-on-year), and Eastern Europe (-0.9% year-on-year). According to S&P Global Mobility data as of February 2026, global light vehicle production volumes within Gestamp's scope are expected to decline by 0.4% in 2026 51
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compared to 2025, reaching 85.1 million units. By region, S&P Global Mobility expects production volumes to grow in 2026 in Mercosur (+5.3%) and Eastern Europe (+0.7%), while declines are expected in Western Europe (-2.2%), North America (NAFTA) (-1.9%), and Asia (-0.1%). Furthermore, since the beginning of 2025, S&P Global Mobility has revised its electric vehicle (EV) penetration estimates downward. As of January 2026, S&P Global Mobility expects 22.7 million EVs to be produced in 2025, representing a market penetration of 24.4%, compared to the 23.5 million units, with a penetration of 26.4%, projected for 2025 in January 2025. The growth of the electric vehicle market continues to slow, albeit at a slightly more prolonged pace. However, the fundamentals of the automotive industry in the medium term remain focused on the electrification trend, as the world continues its shift towards sustainable mobility. China, Europe, and North America remain the main drivers of this EV trend, with EV penetration rates expected to reach 77%, 54%, and 19%, respectively, by 2030. Gestamp continues to work closely with its customers on this EV transition through its focus on Technology and Innovation and its unique value proposition. 52
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1.2 Market growth FY 2025 VS. FY 2024 (1) Gestamp's organic growth at constant exchange rates is used for comparison with production volumes. Production volume growth is based on markets where Gestamp has production facilities (IHS data as of February 2025). Western Europe includes Morocco, in line with reporting. (2) Market performance and Gestamp weighted with geographical mix for FY 2024 (at constant exchange rates and excluding raw materials) (3) North America corresponds to NAFTA / South America corresponds to Mercosur 53
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1.3 Summary of Financial Data The 2025 fiscal year was characterized by a lack of visibility in projected automotive production volumes, with revisions throughout the year initially pointing to stagnation and even slight declines. These forecasts were revised downwards after Liberation Day in April and subsequently revised upwards progressively as trade negotiations advanced and it was confirmed that the tariff impact would be less than anticipated. However, most of this recovery since April was driven primarily by growth in China, which was the fastest-growing market. Against this backdrop, Gestamp's revenue decreased by 5.4% in 2025 to €11,348.6 million, representing a 1.5% decrease at constant exchange rates. Considering organic growth (excluding Gescrap) at constant exchange rates, this growth implies a market underperformance of -5.2 percentage points (compared to market production volume growth within Gestamp's production scope – IHS data as of February 2026) or -1.7 percentage points on a weighted basis. In terms of profitability, EBITDA in 2025 reached €1,307.3 million, including the contribution from Gescrap, representing a 1.0% increase compared to 2024. The EBITDA margin for the automotive business (excluding the impact of Gescrap and the extraordinary costs of the Phoenix plan) stood at 11.9% in 2025. Net profit for the period reached €152.2 million, compared to €188.5 million in 2024. In the 2025 financial year, Gestamp's capex decreased by 51.7 million euros (including IFRS 16), i.e., -5.4% to reach 900.3 million euros compared to 952.0 million euros in 2024. Total capital expenditure (capex) primarily includes investments in growth, recurring expenses, and intangible assets. Growth investments are mainly allocated to plant expansions and new products/technologies for customers. Recurring expenses are largely dedicated to replacing existing programs and ensuring the proper maintenance of production equipment. Finally, investments in intangible assets include, among other things, the capitalization of a portion of R&D expenditures. Gestamp's net financial debt at the end of 2025 reached 1,820.8 million euros, implying a leverage ratio of 1.39x (Net financial debt / EBITDA). 54
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The following details the main metrics in 2025 compared to 2024: Millions of Euros 2024 2025 % Variation Sales 12.001,0 11.348,6 -5,4 % EBITDA 1.294,0 1.307,3 1,0 % EBIT 582,1 546,4 -6,1 % Profit before taxes 369,7 313,1 -15,3 % Attributable result 188,5 152,2 -19,2 % Net worth 3.009,6 3.122,4 3,7 % Net financial debt 2.096,8 1.820,8 -13,2 % Investments in fixed assets 952,0 900,3 -5,4 % In 2025, given the extremely challenging outlook resulting from: a) declining production volumes in Europe and sharp production revisions in China; b) the uncertainty and lack of visibility associated with the slowdown in electric vehicle penetration within a sector-wide transformation that has led many automakers to revise their electric vehicle transition strategy; c) exceptionally negative currency fluctuations, as well as a global environment marked by geopolitical tensions, new tariff measures, and regulatory changes that add an additional level of uncertainty, Gestamp made a slight adjustment to its 2025 forecast in November to reflect lower growth and, conversely, improved profitability in the automotive business and lower operating leverage than expected at the beginning of the year. Given the context, Gestamp has met these new market-driven targets: i) revenues for the Auto business below market growth, ii) a slight improvement in profitability compared to year-end 2024 (11.0% EBITDA margin reported). In the Gescrap business, the year-end figures are lower than those for 2024 due to the sustained price declines throughout the year, particularly affecting Europe. i) Free cash generation in line with 2024 (€134m excluding the impact of Phoenix) and ii) an improved leverage ratio for year-end 2024 (1.6x Net Debt to EBITDA, also adjusted for the impact of Phoenix) thanks to organic cash generation and driven by the partial sale of real estate assets in Spain announced in the H1 2025 results. Achieving these targets further consolidates the company's financial and market position in a challenging market environment. 55
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1.3.1 Revenue by Product The turnover decreased in the period to 11,348.6 million euros, of which Bodywork (Body-in-White) and Chassis represented 9,229.9 million euros, Mechanisms represented 1,106.2 million euros, Tooling and Others represented 478.0 million euros and, finally, the Gescrap activity represented 534.5 million euros in 2025. 56
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1.3.2 Revenue and EBITDA by Geographic Segment Western Europe Revenue in 2025 decreased by 176.9 million euros, or -4.2% (-4.1% at constant exchange rates), to 4,042.4 million euros from 4,219.3 million in 2024. EBITDA in 2025 experienced a decrease of 27.4 million euros, or -5.7%, to 453.1 million euros from 480.5 million euros in 2024. The EBITDA margin in the region has decreased to 11.2% in 2025 from 11.4% in 2024. Eastern Europe During 2025, revenue increased by €22.7 million, or 1.2% (+9.0% at constant exchange rates), to €1,924.7 million, compared to €1,902.0 million the previous year. The region experienced exchange rate headwinds, primarily in Turkey, which negatively impacted our results. EBITDA during 2025 increased by 39.1 million, or +15.4%, to 293.0 million euros from 253.9 million euros in 2024. The EBITDA margin in the region has increased to 15.2% in 2025 from 13.3% in 2024. 57 Turnover – Millions of Euros 2024 2025 % Variation Western Europe 4.219,3 4.042,4 -4,2 % Eastern Europe 1.902,0 1.924,7 1,2 % North America (NAFTA) 2.401,9 2.241,4 -6,7 % South America (Mercosur) 927,6 782,1 -15,7 % Asia 1.976,4 1.823,5 -7,7 % Gescrap 573,8 534,5 -6,8 % Total 12.001,0 11.348,6 -5,4 % EBITDA – Millions of Euros 2024 2025 % Variation Western Europe 480,5 453,1 -5,7 % Eastern Europe 253,9 293,0 15,4 % North America (NAFTA) 143,9 166,0 15,4 % South America (Mercosur) 87,6 91,9 4,9 % Asia 276,5 263,8 -4,6 % Gescrap 51,6 39,5 -23,4 % Total 1.294,0 1.307,3 1,0 %
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North America (NAFTA) During 2025, revenues decreased by 160.5 million euros, or -6.7% (-1.3% at constant exchange rates), to 2,241.4 million euros from 2,401.9 million in 2024. EBITDA in 2025 increased by €22.1 million, or 15.4%, to €166.0 million from €143.9 million in 2024. The EBITDA margin excluding extraordinary costs from the Phoenix plan reached 8.1% in the year compared to 7.0% in 2024. South America (Mercosur) Revenue in 2025 decreased by €145.5 million, or -15.7% (-4.3% at constant exchange rates), to €782.1 million from €927.6 million in 2024. Exchange rate effects in Argentina and Brazil have negatively impacted our results. During 2025, EBITDA increased by 4.3 million euros, or 4.9%, to 91.9 million euros from 87.6 million euros in 2024. The EBITDA margin in 2025 reached 11.8%. Asia Revenue in 2025 decreased by 152.9 million euros, or -7.7% (-3.1% at constant exchange rates), to 1,823.5 million euros, compared to 1,976.4 million euros in 2024. EBITDA for 2025 decreased by €12.7 million, or -4.6%, to €263.8 million from €276.5 million in 2024. The EBITDA margin in 2025 reached 14.5%. Gescrap By 2025, Gescrap's revenue decreased by 39.3 million euros, or -6.8%, to 534.5 million euros, compared to 573.8 million euros in 2024. EBITDA during 2025 decreased by 12.1 million euros, or 23.4%, to 39.5 million euros from 51.6 million in 2024. The EBITDA margin in 2025 reached 7.4%. 58
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2. Debt and Liquidity As of December 31, 2025, net financial debt amounted to 1,820.8 million euros, resulting in a leverage ratio (Net financial debt / EBITDA) of 1.39x. Millions of Euros 2024 2025 Non-current financial debts 2.670,8 2.616,7 Debts with credit institutions and debt securities 2.206,0 2.164,4 Financial leases 395,2 402,5 Debts with related parties 14,8 13,0 Other external resources 54,8 36,8 Current financial debts 809,2 546,6 Debts with credit institutions 521,2 404,6 Financial leases 66,0 60,7 Debts with related parties 3,2 2,7 Other external resources 218,8 78,6 Gross debt 3.480,0 3.163,3 Net Financial Debt 2.096,8 1.820,8 EBITDA 1.294,0 1.307,3 Leverage ratio (Net Financial Debt / EBITDA) 1.62x 1.39x Leverage ratio (excluding IFRS 16) 1.30x 1.07x Non-current debt consists mainly of €493 million of senior secured bonds issued in 2025 and maturing in 2030, €1,192 million of a senior secured loan signed on May 8, 2023, €200 million of debt with the European Investment Bank, €100 million of debt with the Official Credit Institute (ICO) and €632 million of aggregate principal in other bilateral financings. Millions of Euros 2024 2025 Cash and other liquid assets 1.157,1 1.106,5 Current financial investments 227,7 236,1 Revolving credit facilities 500,0 500,0 Credit line limits not available in the short term 132,4 415,9 Credit line limits not available long-term 70,9 137,2 Total 2.088,1 2.395,7 The main source of liquidity is operating cash flow. Net cash flow from operating activities amounted to €1,195.2 million in 2025. In addition, Gestamp has a €500.0 million Revolving Credit Facility maturing in 2028, which was undrawn as of December 31, 2025, as well as €138.9 million in credit lines with maturities of more than 12 months, of which €1.7 million was drawn as of December 31, 2025, and €445.9 million in credit lines with maturities of less than 12 months, of which €30.0 million had been drawn as of December 31, 2025. These credit lines are generally renewable annually, are unsecured, and have standard terms and conditions. 59
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3. Foreseeable Evolution of the Group After a 2025 marked by a lack of visibility in projected automotive production volumes amid geopolitical instability and trade tensions, 2026 is shaping up to be another year of transition for the automotive sector. Macroeconomic uncertainty is expected to persist, driven by a global environment of moderate and still uneven growth, with disinflation processes progressing but not yet complete, and monetary policies beginning to ease gradually, albeit at divergent paces between the United States, the Eurozone, and other developed economies. Added to this is a complex geopolitical scenario: renewed trade tensions between major powers, the uncertain evolution of the conflict between Ukraine and Russia, the fragility of the ceasefire in the Middle East, and an increase in protectionist measures in strategic sectors. In this context, 2026 begins with interest rates still historically high, although with expectations of gradual reductions throughout the year, which could partially ease financial conditions but maintain a significant level of volatility for the industry. More specifically for the automotive market, 2026 is expected to be characterized by: i) a slight drop in car production volumes, ii) an increasing penetration of electric vehicles, but at a slower pace and with growth below what was expected in previous years, and iii) a slight rise in steel prices, which keeps them still above the normalized levels seen in the past. According to S&P Global Mobility data as of February 2026, global light vehicle production volumes are expected to decline slightly by 0.4% in 2026 compared to 2025, reaching 85.1 million units in the countries within Gestamp's production perimeter. By region, S&P Global Mobility expects production volumes to grow in 2026 in Mercosur (+5.3%) and Eastern Europe (+0.7%), while declines are expected in Western Europe (-2.2%), NAFTA (-1.9%), and Asia (-0.1%). Regarding Gestamp's operations, the Group's main objective for 2026 will be to continue preserving its profitability and financial profile: i) by implementing cost reduction initiatives and efficiency improvements, ii) by maintaining our financial profile and defending our balance sheet structure, and iii) by continuing to focus on the restructuring plan for the NAFTA region. In this context, the Group is determined to further strengthen its financial and strategic position. By 2026, Gestamp expects a reported EBITDA margin (excluding extraordinary costs from the Phoenix Plan) above the 11.7% achieved in 2025, thus also projecting an improvement in the EBITDA margin of the Auto business, which stood at 11.9%, and an improvement for the Gescrap business, which reached a 7.4% EBITDA margin in 2025 (both targets also exclude extraordinary costs from the Phoenix Plan). Our evolution towards a less capital-intensive model leads us to target an operating cash flow conversion of around 35% by the end of 2026. Gestamp remains focused on ensuring a balance between profitability and investment for growth, through a less capital- intensive business profile. 60
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4. Tax Strategy The Gestamp Group bases its tax strategy on current national and international tax regulations, recognizing the importance and necessity of its contribution to the public finances of the various territories in which it operates. This tax strategy is considered a particularly important area, as it must be perfectly aligned with the core principles of its business strategy, while also forming an essential part of the Group's sustainability policy. The Gestamp Group's tax policy revolves around four fundamental pillars: • Maximum responsibility in decision-making and in carrying out actions in tax matters. • Fair contribution through the payment of all taxes due wherever business activity takes place. Gestamp's objective is never to relocate activities or results to specific jurisdictions for purely tax-related reasons. • Total transparency in all the information that Gestamp provides to shareholders, the market and the various stakeholders with whom it interacts, and this information is also accessible, clear and truthful. • Absolute cooperation with the various public administrations of the countries where Gestamp has an industrial presence and always in accordance with solid values of professionalism, collaboration, good faith, mutual trust and mutual respect. In accordance with these principles, at Gestamp tax matters are managed in an orderly and professional manner to ensure at all times the full compliance with our fundamental pillars, as well as the due and timely fulfillment of all tax obligations together with the effective management of all possible risks of a tax nature. To this end, Gestamp, on the one hand, has at the corporate, divisional and local levels an appropriate, expert, integrated organization with sufficient technical competence which allows it to manage and ensure the proper fulfillment of its tax obligations and policies and, on the other hand, supported by strong technological development, the procedures, systems and internal controls that are most effective are applied to ensure that the tax function is carried out properly. The competent and responsible bodies of Gestamp in the tax field are the Board of Directors, the Audit Committee, the Risk Committees, the Corporate Tax Department and the Internal Audit and Risk Management Department. Specifically, the Corporate Tax Department is responsible for preserving and developing all of Gestamp's tax principles and values and for ensuring their compliance, defining and establishing the necessary control mechanisms for this purpose. The Corporate Tax Department also provides information on tax risks and their management to the Internal Audit and Risk Management Department. This 61
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department, in turn, continuously monitors and tracks these tax risks, incorporates them into the Group's Integrated Risk Management System, and is responsible for reporting them to the Audit Committee. Country-specific information on corporate income tax payments, profit before tax, and subsidies IS Payments Profit before taxes Capital Grant Operating Subsidy 2024 2025 2024 2025 2024 2025 2024 2025 WESTERN EUROPE Spain -25,8 -1,2 466,3 569,7 4,1 3,5 9,5 10,9 Germany -4,3 -9,9 -22,3 41,1 0,1 0,0 0,6 1,1 United Kingdom -0,1 -0,1 -5,1 -18,5 0,0 0,0 0,2 0,2 France -3,3 -1,7 14,2 9,3 0,2 0,2 1,2 0,3 Portugal -7,5 -4,0 28,1 23,3 1,5 0,3 0,0 0,0 Sweden -3,6 -15,6 60,7 -4,1 0,0 0,0 0,0 0,0 Morocco -0,8 -1,1 7,6 2,6 0,1 0,3 0,0 0,0 EASTERN EUROPE Turkey -0,5 -0,7 51,5 65,2 0,0 0,0 0,0 0,0 Russia -0,1 -0,7 1,5 7,2 0,0 0,0 0,0 0,0 Czech Republic -0,8 -1,4 -7,2 6,2 0,0 0,0 0,0 0,0 Poland 0,9 -1,4 41,2 39,6 0,6 0,6 0,0 0,0 Hungary -0,3 -0,1 -7,5 -1,8 0,0 0,0 0,0 0,0 Slovakia -3,7 -2,0 11,9 15,9 0,5 0,5 0,0 0,0 Romania -2,1 -1,8 11,2 8,5 0,0 0,0 0,0 0,0 Bulgaria 0,0 -0,3 0,1 4,4 0,0 0,0 0,0 0,0 Lithuania 0,0 0,0 0,0 0,2 0,0 0,0 0,0 0,0 SOUTH AMERICA Brazil -11,4 -9,0 49,7 63,5 0,0 0,0 0,0 0,0 Argentina 0,0 0,1 -7,1 -3,9 0,0 0,0 0,2 0,3 NORTH AMERICA USA -3,4 -2,3 -121,8 -56,6 0,0 0,0 4,4 6,4 Mexico -9,8 -9,2 24,0 -4,1 0,1 0,0 0,0 0,0 ASIA China -23,0 -17,8 135,5 95,2 1,1 1,7 5,8 10,1 India -1,7 -3,9 13,4 15,4 0,0 0,0 0,0 2,4 South Korea -2,6 -1,0 7,0 4,1 0,0 0,0 0,0 0,0 Japan -0,2 -0,2 -2,3 -2,3 0,0 0,0 0,0 0,0 Thailand -0,2 -0,2 1,0 1,0 0,0 0,0 0,0 0,0 Taiwan -0,2 -0,5 3,5 4,1 0,0 0,0 0,0 0,0 Samoa 0,0 0,0 0,0 0,0 0,0 0,0 0,0 0,0 62
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5. The Company in the Capital Markets 5.1 Stock Market Evolution On April 7, 2017, Gestamp debuted as a publicly traded company on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges and was integrated into the Spanish Stock Exchange Interconnection System (SIBE) under the ticker symbol “GEST”. The final offering consisted of 156,588,438 shares (an initial offering of 155,388,877 shares plus the execution of 1,199,561 shares corresponding to the Greenshoe option of 23,308,331 shares). The initial offering price was set at €5.60 per share, implying an initial market capitalization of €3.222 billion. Since December 2017, Gestamp's shares have been included in the IBEX Medium Cap index. As of December 31, 2025, 75.023% of the share capital was controlled (directly and indirectly) by Acek Desarrollo y Gestión Industrial S.L. (the Riberas family's industrial holding company), with 62.498% owned by Acek and 12.525% by Mitsui. In addition, as of December 31, 2025, Gestamp held treasury shares representing 1.122% of the share capital. Gestamp's total free float was 23.855% as of December 31, 2025 (including shares owned by the Board of Directors and treasury shares traded by JB Capital Markets under the liquidity agreement). 3.002% of the share capital, considered as part of the free float, belongs to the Bilbao Bizkaia Kutxa Banking Foundation (BBK) as notified to the National Securities Market Commission (CNMV) on December 13, 2024. The following shows the evolution of Gestamp's share price since January 1, 2025: Source: Bloomberg as of December 31, 2025 As of December 31, 2025, Gestamp shares had accumulated a positive return of +22.7% since December 31, 2024, bringing its market capitalization to €1.751 billion at 63 Daily evolution of Gestamp share price vs. Ibex 35 and vs. STOXX Autos & Parts
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year-end. The total trading volume during 2025 was 126.3 million shares, or €366.1 million. The shares reached their yearly high on August 22, 2025 (€3.53) and their low on January 10, 2025 (€2.35). During 2025, the average share price was €2.96. Below is the most relevant information on Gestamp's performance in the stock market in 2025 and 2024: 2024 2025 Total number of shares 575,514,360 575,514,360 Share price at year-end 2,48 € 3,04 € Year-end market capitalization (in thousands) 1.427,00 € 1.751,00 € Maximum Price 3,56 € 3,53 € Date of Maximum Price 02/01/2024 22/08/2025 Minimum Price 2,37 € 2,35 € Date of Minimum Price 03/12/2024 10/01/2025 Average price 2,80 € 2,96 € Total volume (in shares) 156,807,731 126,271,844 Average daily trading volume (in shares) 610.147 493,249 Total volume (in millions) 432.50 366.10 Average trading volume (in thousands) 1,682.87 1,429.99 Data as of December 31, 2025. Source: Bloomberg and BME (Spanish Stock Exchanges and Markets) 5.2 Operations with Own Shares On July 27, 2018, the Parent Company entered into a liquidity agreement with JB Capital Markets, S.V., S.A.U., adapted to the provisions of Circular 1/2017, of April 26, of the CNMV (Spanish National Securities Market Commission). The framework for this agreement will be the Spanish Stock Exchanges. This contract establishes the conditions under which the financial intermediary will operate on behalf of the issuer, buying or selling the latter's own shares, with the sole objective of promoting liquidity and regularity of its price, and will have a duration of 12 months, being understood to be tacitly extended for the same period, unless otherwise indicated by the parties. The amount allocated to the cash account associated with the contract was 9,000 thousand euros. In May 2024, the Board of Directors of the Parent Company agreed to establish a new Share Buyback Program with the purpose of providing the Parent Company with sufficient treasury stock to allow the delivery of shares of the Company to certain employees of the Group, beneficiaries of the 2024-2026 Long Term Incentive Program (Note 6.15), with a maximum monetary amount allocated of 12 million euros and a maximum number of shares of 3,014,319. 64
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As a result of the above, on May 31, 2024, the liquidity contract signed with JB Capital Markets, S.V., S.A.U. was temporarily suspended, and it was resumed on August 12, 2024, after the repurchase of the 3,014,319 shares established in the Repurchase Program was completed. The treasury shares as of December 31, 2025 represent 1.13% of the share capital of the Parent Company (1.23% as of December 31, 2024) and total 6,508,845 shares (7,097,059 as of December 31, 2024), at an average acquisition price of 2.964 euros per share (2.845 euros per share as of December 31, 2024). The movement during the 2025 and 2024 fiscal years has been as follows: Number of treasury shares Thousands of Euros Balance as of December 31, 2023 3.169.656 11.934 Increases/Purchases 10.055.793 27.728 Decreases/Sales (6.128.390) (19.470) Balance as of December 31, 2024 7.097.059 20.192 Increases/Purchases 8.513.507 24.900 Decreases/Sales (9.101.721) (25.799) Balance as of December 31, 2025 6.508.845 19.293 The sale price in the 2025 financial year of the treasury shares detailed in the table above amounted to 26,533 thousand euros (16,850 thousand euros as of December 31, 2024), generating a positive result of 734 thousand euros (negative result of 2,620 thousand euros as of December 31, 2024), which has been recorded under the heading of Distributable Reserves. 5.3 Bonds and Credit Rating On October 6, 2025, the Group issued a bond, through its parent company (Gestamp Automoción S.A.), for a total amount of €500 million at an annual interest rate of 4.375%. This issuance was used to repay part of Gestamp's existing short-term debt. The bond matures on October 15, 2030. As of December 31, 2025, Gestamp Automoción's corporate credit rating was "BB / Stable Outlook" by Standard & Poor's and "Ba2 / Stable Outlook" by Moody's. Corporate Rating Current Rating Perspective Last Revision Standard & Poor’s BB Stable 13/6/2025 Moody’s Ba2 Stable 20/3/2025 Bond Rating Current Rating Perspective Last Revision Standard & Poor’s BB Stable 22/9/2025 Moody’s Ba2 Stable 26/9/2025 65
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6. Dividend Policy In 2018, Gestamp's Board of Directors approved the new dividend policy. Gestamp will continue to distribute annually a total dividend equivalent to approximately 30% of the consolidated net profit for each financial year, distributed in two installments, with part of the payment made in advance as an interim dividend: I. An initial payment, through the distribution of an interim dividend, which will be approved by agreement of the Board of Directors in December of each year and will be paid between January and February of the following year. II. A second payment, through the distribution of an ordinary dividend, which will be approved by agreement of the Ordinary General Meeting of Shareholders at the time of the approval of the annual accounts and will be paid between the months of June and July of each year. In December 2025, the Board of Directors approved the distribution of an interim dividend in January 2026 against the 2025 financial results. The payment took place on January 10, 2026, for a gross amount of 0.0391 euros per share. 7. Other Relevant Information Average Payment Period to Suppliers The Spanish companies of the Group have adapted their internal processes and payment terms policy to the provisions of Law 15/2010, which establishes measures to combat late payments in commercial transactions. In this regard, the terms of contracts with commercial suppliers for the industrial activity of manufacturing parts located in Spain have included payment periods of 60 days or less, both in fiscal year 2025 and fiscal year 2024, as established in the Second Transitional Provision of the aforementioned Law. In accordance with the provisions of the aforementioned Law, the following information pertains to the Group companies operating in Spain: Exercise 2025 Average payment period to suppliers: 50 days Total payments made: 3.954 billion euros Total outstanding payments: 668 million euros Exercise 2024 Average payment period to suppliers: 43 days Total payments made: 4.282 billion euros Total outstanding payments: 660 million euros The monetary volume paid in the 2025 financial year in a period lower than the maximum established in the regulations on late payments, for companies based in 66
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Spain, is 1,124 thousand euros (1,083 thousand euros in 2024) corresponding to 86,592 invoices (63,360 invoices in 2024). For reasons of efficiency and in line with common business practices, the Spanish companies of the Group have established, basically, a payment schedule to suppliers under which payments are made on fixed days, which in the main companies is twice a month. In general terms, during fiscal years 2025 and 2024, payments made by Spanish companies to suppliers for contracts entered into after the entry into force of Law 15/2010 did not exceed the legal limits for payment deferral. Payments to Spanish suppliers that exceeded the established legal deadline during fiscal years 2025 and 2024 were, in quantitative terms, of little significance and resulted from circumstances or incidents unrelated to the established payment policy, primarily the finalization of agreements with suppliers for the delivery of goods or the provision of services, or specific processing procedures. Subsequent events On January 8, 2026, a novation of the syndicated loan and the revolving credit facility was formalized for a total amount of €1.2 billion and €500 million respectively, extending their final maturity from 2028 to 2031 and modifying the interest rate. The remaining guarantees and covenants remained unchanged. The syndicated loan includes two repayments, one of €600 million in 2030 and another of €600 million in 2031, while the revolving credit facility has a single maturity date, if drawn, in 2031. Except as indicated in the preceding paragraph, there are no significant events subsequent to December 31, 2025. 67
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5. RISK MANAGEMENT The identification, assessment and management of risks has been part of Gestamp's culture and strategy since its inception and is becoming increasingly relevant in an increasingly changing geopolitical and economic context. Risk management, implemented in all businesses and levels of the organisation, contributes to reducing, in some cases substantially, the impact in the event of any adverse events materialising, and even transforming certain risks into opportunities and sources of competitive advantage. To guarantee adequate management of risks and opportunities, Gestamp has an Integrated Risk Management System described below. Integrated Risk Management System Gestamp possesses an Integrated Risk Management System (IRMS) 1 that ensures the systematic and homogeneous identification, assessment and management of risks of any nature that could affect the achievement of the Group's strategic objectives. This system, driven by the Board of Directors, contributes to value creation in a sustainable manner and to the protection of the Group's interests and its stakeholders. Gestamp has a Risk Management Policy approved by the Board of Directors and applicable to all companies comprising the Group, covering all risks associated with the Group's activities, processes, projects and business lines in all geographic areas where it operates. This policy sets out2: • The different categories of financial, operational, strategic, reputational and compliance risks. • The basic principles, guidelines, and general framework for action in this area. • The bodies responsible for the proper functioning of internal risk control and management systems, defining their roles and responsibilities. • The criteria applicable for setting acceptable risk levels. • In 2025, Gestamp evolved its internal tool for financial risk and control management towards a GRC solution that integrates all the Group's current risk control and management systems into a single platform: • Integrated Risk Management System, • Internal Financial Information Control System (IFIICS), • Internal Control over Sustainability Reporting System (ICSR), • Criminal Risk Prevention Model, • AI Risk Prevention System, • Fraud Prevention System, • IT / OT Control Management System. 68 1 Based on the COSO ERM and ISO 31000 framework standards, as well as the good practices mentioned in the Good Governance Code of Listed Companies and in the Technical Guide 3/2017 on Audit Committees of Public Interest Entities. 2 For more information about the Risk Management System, please see the Corporate Governance Report.
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This evolution reinforces governance, avoids duplication for risk and control owners, unifies methodologies and allows for more efficient, traceable and homogeneous management throughout the Group, also serving to obtain combined assurance. The annual risk management process involves: • The review and approval of risk valuation scales (inherent impact, inherent probability and velocity) and controls that mitigate them (strength against inherent impact and inherent probability). • Review of the owners of the different risks, ensuring that their responsibility for them and associated controls is fully communicated. • The updating and dissemination of the Corporate Risk Map at relevant levels of the organisation. • The monitoring of defined indicators for risk measurement. • The implementation and monitoring of global or specific action plans to keep risks within levels considered acceptable. This dynamic system is continuously updated, incorporating derivatives from business developments, regulatory changes, good governance recommendations and other factors, such as ESG-related risks, which have been reviewed and aligned with the ESG Plan 23-25, as detailed in subsequent sections. Main Risks Gestamp conducts its activities in multiple countries, markets and regulatory, political and socio-economic environments, implying exposure to strategic, operational, financial, reputational and compliance risks, which must be mitigated as effectively as possible. During 2025, the risks identified by the company are, in general terms, in line with the previous period, taking into account the evolution of the automotive market, innovation processes and new technologies, as well as the consequences derived from ongoing international conflicts, which have generated an impact for companies and countries globally. These factors have led to reinforcing internal measures and policies to mitigate the consequences derived, among others, from the slowdown in demand for electric vehicles in various markets, which also influences global demand. Likewise, actions have been intensified against risks associated with cybersecurity, development of new projects and products, price and exchange rate fluctuations, and security in the supply of raw materials and energy. 69
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Some of the main risks that have been identified by the company and the corresponding management measures are detailed below: RISKS MANAGEMENT MEASURES Operational risks Cybersecurity risk and leakage of critical information Gestamp has Implemented a Strategic Cybersecurity Plan in all plants and divisions, including the reinforcement of information access barriers, alert systems against intrusion attempts, phishing, malware, etc., as well as continuous awareness programmes for employees. Complementarily, the global cybersecurity policy defines standards, roles and procedures for the protection of digital assets, information classification by criticality level and the design of appropriate protection mechanisms, guaranteeing resilience against emerging threats. Volatility risks and supply management Most steel is purchased through resale agreements directly negotiated by car manufacturers. For other raw material supplies, Gestamp works with steel suppliers to negotiate purchase prices in line with the agreements signed by customers. A range of controls for managing the logistics chain and daily checks of stock levels are carried out alongside production forecasts. Gestamp has designed a long-term energy-purchasing strategy with PPAs (Power Purchase Agreements), with the aim of reducing the impact of price volatility. Difficulty attracting and retaining talent Gestamp has a people management model that identifies existing talent in the organisation on homogeneous and consistent bases. This model, together with training and development programmes, mobility plans and compensation programmes, drives talent development and growth. Furthermore, aligned with the Group's strategic priorities – growth and adoption of new technologies – it allows for planning talent needs in number and profile for critical environments. Inability to adapt to volume drops: inability to make production more flexible and optimise associated costs Gestamp drives Industry 4.0 and digitalisation projects aimed at production flexibilsation and cost absorption. The Smart Factory model integrates technologies such as IoT, Big Data and real-time connected systems, and together with its component assembly concept, allows for adjusting installed production capacity to the real volumes of different vehicles at all times and responding agilely to demand changes. High-sensitivity indicators are also available to detect deviations in adaptation. Measures in this area include: optimising the cost structure to balance fixed and variable costs; the above-mentioned Smart Factory model to introduce flexible production processes; and, wherever possible, establishing binding contractual clauses in the event of drops in volume. 70
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Profitability deviations in the industrialization and production phases of projects. Gestamp has developed the Gestamp Product Creation System (GPCS) to regulate and cover all processes involved in the study and quotation phase of our projects, serving as a repository for all documentation in the different stages of the process, including that related to risks. The system defines the milestones for each project, their review points and the people responsible for them. It has been circulated and introduced on a global scale within the Group. In addition, Gestamp has a global database that includes a record of incidents and lessons learnt, which can be consulted in the creation of each new business case. Lastly, for each launch and its corresponding business case, variance analysis is performed, in addition to monitoring by a specific corporate control department Incidents related to the quality of Gestamp's products Gestamp has a company-wide quality management system that supports all individual plant systems, which are certified by independent and internationally accredited organisations and also audited regularly by customers and the internal quality audit team. In addition, Gestamp has developed quality standards by taking the best practices from individual plants and introducing them to all plants, with a special focus on manufacturing processes, as well as various IT tools that support the effective roll-out of quality-related working methods specific to the automotive industry. Strategic risks Geopolitical and macroeconomic uncertainty Gestamp performs continuous monitoring of the geopolitical situation in all countries where it operates, aiming to assess and incorporate the impact of potential instability into Group forecasts and strategic and operational decisions, and designs specific mitigating measures. Likewise, associated factors and indicators are considered in the adjudication of new relevant projects in countries with significant risk, via ad hoc reports shared in decision-making committees, along with corresponding mitigating actions. Loss of market share or competition Gestamp has a GSPO (Gestamp Strategic Project Office) Validation Procedure, a corporate process ensuring evaluation and validation by senior management of strategic projects before approval, guaranteeing alignment with Group objectives, as well as competitiveness, quality and financial strength. This procedure allows prioritising initiatives that reinforce market position. Likewise, 5-year strategic plan reviews are performed at each plant (5YP), via a systematic update process considering customer needs, corporate objectives and market trends. These reviews allow identifying emerging risks, adjusting productive capacity, optimising investments and defining corrective actions. Lack of integration and achievement of ESG objectives in the company business model Gestamp has established an ESG 2025 strategic plan, integrated into the business strategy and approved by the Board of Directors. This plan, aligned with identified risks and stakeholder expectations, establishes governance bodies, ESG policies and multidisciplinary working groups at corporate and divisional levels. Its progress is supervised via periodic reviews and corrective actions to guarantee compliance. Lack of defined technology strategy Gestamp participates in co-developments with customers and promotes strategic initiatives in digitalisation and Industry 4.0. Likewise, it has a specific roadmap for technological innovation specific to electric vehicles and other advanced solutions. These activities, developed in the 13 R&D centres covering the entire value chain to design products oriented towards future mobility, are supervised and directed by the Technology and Innovation Office. 71
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Financial risks Risks associated with fluctuations in financial markets, such as exchange rates or interest rates Gestamp uses derivative financial instruments to hedge exposure to interest rate variations. Likewise, the company seeks a balanced combination of fixed and floating rates for debt. It performs periodic evaluations of exchange rate exposure by geography and takes hedging decisions when necessary. Monthly monitoring of impacts is performed, and contractual clauses with third parties are established for indexation against exchange rate variations. Compliance risks Non-compliance with applicable external regulations The Group maintains a robust regulatory control system, including: •Continuous monitoring of regulatory changes in all jurisdictions where it operates, ensuring timely adaptation to new legal requirements. •Operational whistleblowing channel, with systematic monitoring and periodic reporting to the Audit Committee, guaranteeing transparency and adequate management of potential non-compliances. •Criminal Risk Prevention Model, complemented by a specific Manual and a set of corporate policies, periodically reviewed and approved by the Board of Directors, ensuring compliance with criminal regulations and Group ethical standards. For more information about the 2025 risks, please see the Corporate Governance Report. ESG Risks Gestamp is aware that ESG risks are very tightly linked to the geographical location of its plants and the complexity of the value chain in the automotive industry. For this reason, the company intends to use the ESG Plan 23-25 and the upcoming ESG Plan 26-30 to help in mitigating these risks in two directions: towards the company and towards its stakeholders and environment. During 2025, the Risk Directorate and the ESG Directorate reviewed and updated the ESG risks present in Gestamp's Integrated Risk Management System with a dual objective: ensuring that the Risk Map is aligned with the company's ESG strategy and knowing the degree of contribution of the different areas of the ESG Plan to the mitigation of Group risks. Likewise, in 2025 there was a review of the double materiality analysis, the results of which have been aligned with the Corporate Risk Map. After collaboration with the ESG Directorate to guarantee alignment of the IRMS with the ESG Plan, the following conclusions have been obtained: Firstly, the most consolidated ESG Plan areas, those on which the company has been working longest, meet their objective of mitigating risks such as worker health and safety, risks related to supplied part quality, or compliance and accountability risks. 72
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Furthermore, the ESG Plan reinforces areas contributing to mitigating risks related to environmental, social and ethical supply chain management, alignment with customer ESG expectations, or talent attraction and retention. The plan not only contributes to mitigating risks but also to turning them into opportunities and competitive advantages, such as alignment with customers' climate change objectives or introducing the concept of circularity. 73
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6. ANNUAL CORPORATE GOVERNANCE REPORT The Annual Corporate Governance Report for the year ended 31 December 2025, which forms part of this Consolidated Management Report, is available in full on the website of the National Securities Market Commission (CNMV) ( www.cnmv.es)and on Gestamp's corporate website, ( www.gestamp.com). Likewise, the Annual Corporate Governance Report will be communicated as Other Relevant Information (OIR) on the aforementioned CNMV website. 7. ANNUAL REPORT ON DIRECTORS' REMUNERATION The Annual Report on Directors' Remuneration relating to the financial year ended 31 December 2025, and which forms part of this Consolidated Management Report, is available in full on the website of the National Securities Market Commission (CNMV) (www.cnmv.es) and on Gestamp’s corporate website, ( www.gestamp.com). Likewise, the Annual Report on Directors' Remuneration will be communicated as Other Relevant Information (OIR) on the aforementioned CNMV website. 74
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8. CONSOLIDATED STATEMENT OF NON-FINANCIAL INFORMATION AND SUSTAINABILITY INFORMATION 1. General Information ...................................................................................................................... 76 I. General Information (ESRS 2) ..................................................................................................... 76 2. Environmental information .......................................................................................................... 136 Disclosure of information under Article 8 of Regulation (EU) 2020/852: Taxonomy of the European Union ............................................................................................................................ 136 I. Climate change (E1) .................................................................................................................... 156 II. Pollution (E2) ............................................................................................................................. 187 III. Water and marine resources (E3) ............................................................................................ 193 IV. Biodiversity and ecosystems (E4) ............................................................................................ 201 V. Resources used and circular economy (E5) .............................................................................. 209 3. Social Information ......................................................................................................................... 231 I. Own workforce (S1) .................................................................................................................... 231 II. Value chain workers (S2) ........................................................................................................... 283 III. Affected Communities (S3) ...................................................................................................... 296 IV. Consumers and end users (S4) ................................................................................................. 315 4. Governance Information ............................................................................................................... 323 I. Business conduct (G1) ................................................................................................................ 323 Annexes ............................................................................................................................................. 345 Additional information .................................................................................................................. 346 Material Impacts, risks and opportunities identified during the year .......................................... 364 Policies and other rules ................................................................................................................. 370 Table of Contents as per Law 11/2018 ......................................................................................... 371 Table of contents pursuant to Commission Delegated Regulation (EU) 2023/2772, of 31 July 2023, supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards (CSRD) ....................................................................... 383 List of data points included in cross-cutting standards and in thematic standards derived from other EU legislation .............................................................................................................. 388 Task Force on Climate-Related Financial Disclosures (TCFD) Table of Contents .......................... 396 Group Companies .......................................................................................................................... 397 Independent verification report ................................................................................................... 401 75
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1. GENERAL INFORMATION I. General information (ESRS 2) BP – 1: General basis for the preparation of the sustainability statement. This Consolidated Non-Financial Information Statement and Sustainability Information (hereinafter Sustainability Statement and Sustainability Report) refers to the sustainability performance of the Gestamp Group (hereinafter the Group or Gestamp) including the Sideacero Group (hereinafter Gescrap) for the period from 1 January to 31 December 2025. The contents constitute the 2025 Sustainability Statement and consolidates data about all the activities and all the regions in which the Group is active. The scope of consolidation of this 2025 Sustainability Statement of the Gestamp Group is the same as that of the Consolidated Financial Statements. 3 In the event that any indicator reports the information associated with 100% of the perimeter through estimates, this is specified in a footnote or table. In the same way, it is indicated at the bottom of the table if the figure reported for the previous year has been recalculated. Gescrap represents 4.7% of the turnover with respect to the consolidation perimeter of the financial statements and has been integrated into the double materiality analysis, the climate risk analysis and the taxonomy. In the same way, after the progress made throughout the year in the integration of quantitative information, primary data have been included in the rest of the sustainability information. For the preparation of this report, the company has different corporate information collection systems, and a specific non-financial information reporting platform that allows it, automatically, to collect the necessary information to comply with the requirements demanded by Commission Delegated Regulation (EU) 2023/2772 and Law 11/2018, of 28 December, on non-financial information and diversity. Under these systems, information is subject to internal control procedures, data are verified, potential errors can be corrected, information is structured and consolidated, and a historical data record is maintained. This platform specifically for reporting financial information, among other elements, has been vital for compiling the information on Gescrap and the companies which have not yet implemented the group’s systems, making it possible to guarantee the inclusion of information from the whole perimeter. Gestamp's Sustainability Statement not only covers the group's own activities, but also upstream and downstream operations at every other stage of its value chain. This value chain is made up of three segments: • Upstream operations: As the supply chains of the automotive sector become more complex, so robust internal systems and procedures are needed to correctly manage suppliers of raw materials (steel, aluminium, etc.), services or other products, without which the company would not be able to undertake its 76 3Gestamp holds stakes in various companies considered using the equity method, these being part of the Group's value chain and being excluded from the sustainability indicator report with the exception of the Group's carbon footprint.
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activities. This segment extends from direct suppliers (tier-1) and, as far as possible, to lower levels (tier-n), from the knowledge of our main suppliers’ activity, acknowledging that this information is usually confidential. • Own Operations: The Group seeks to be the trusted partner of its customers (OEMs), meeting their needs and keeping them at the heart of the business, accompanying them in new markets and offering them innovative solutions to face the many different challenges of the automotive sector. OEMs are responsible for assembling parts purchased from their suppliers. In some cases, these customers also act as part producers. The result of this process is the manufacture of vehicles that are subsequently marketed for use by the consumer or end user, who uses them until the end of their useful life. • Downstream: The Group aims to be a trusted partner to its OEM customers, meeting their needs and placing them at the heart of the business, supporting them in new markets, and offering innovative solutions to address the many and varied challenges of the automotive sector. OEMs are responsible for assembling parts purchased from their suppliers. In some cases, these customers also act as parts manufacturers. The result of this process is the production of vehicles that are subsequently sold to the end consumer or user, who uses them until the end of their useful life.4 This report presents information on the management of the activity in each of the phases of its value chain. The company has not opted to omit from the Sustainability Report any information about intellectual property, know-how or the results of innovative projects. Likewise, the company has chosen not to exempt information relating to impending developments or matters in the course of negotiation, pursuant to the provisions of Article 19a(3) and Article 29a(3) of Directive 2013/34/EU.5 77 4Original Equipment Manufacturer. 5The only exemption is that relating to reductions through decarbonization leverage, which is classified as confidential and sensitive and will be assessed for reporting in future exercises as long as this situation changes.
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BP – 2: Disclosures in relation to specific circumstances Time horizons The double materiality assessment uses the time horizons defined in section 6.4 of ESRS 1: short term refers to the financial statement reporting period; medium term refers to a period of up to five years from the end of the short-term period; and long term refers to a period of more than 5 years from the end of the short-term period. In the case of climate risk analysis (physical and transitional), different time horizons have been used: • Short term: the time between the reporting period and 2030. • Medium term: from 2031 to 2050. • Long term: from 2050 to 2100. This, beyond climate actions and targets, responds to the temporal nature of the expected physical and transition climate impacts according to the selected climate scenarios from the IPCC (Intergovernmental Panel on Climate Change) and the IEA (International Energy Agency). It is the company's view that the medium- and long- term time horizons should be close enough for scenarios to be plausible, but distant enough for significant and potentially business-impacting changes to take place between the scenarios and the present. These time horizons have also been selected by the company in view of investment horizons and the useful life of assets. Sources of estimation and outcome uncertainty Rigorous steps have been taken to gather and present both quantitative and qualitative information in the Sustainability Statement. Yet should any considerable degree of uncertainty exist in relation to any quantitative parameter and/or monetary amount, an appropriate explanation will be provided alongside the value in question for the sake of clarity. Should any considerable degree of uncertainty exist, the corresponding explanation will include the assumptions, approximations and judgements on which the measurement is based. 78
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Standard Indicator Estimate used E1 E1-6 Details regarding the hypotheses, criteria and methodologies for the estimated calculation of the group's carbon footprint are included in the following section: "E1-4" E3 E3-2 Water consumption in cubic meters has been obtained from primary data sources. In those companies in which it has not been possible to access the breakdown of consumption data by source, the same proportionality has been applied as in the rest of the Group. E5 E5-5 The production of hazardous and non-hazardous waste has been obtained from primary data sources. In those companies in which it has not been possible to access the data broken down by type of hazardous waste and type of non-hazardous waste, the same proportionality has been applied as in the rest of the Group. S1 S1-14 For those companies in which the breakdown of hours worked has not reached the maximum degree of reporting (gender and own and subcontracted personnel), a direct proportionality has been made based on the total hours worked known following the representativeness of these groups in the Group. S1 S1-16 The details of the hypotheses, criteria and methodologies used to calculate the gap and the Group's average remuneration are included in: "S1–16" Changes in the preparation or presentation of sustainability information As this is the second year in which the Gestamp Group has reported information under Commission Delegated Regulation (EU) 2023/2772, of 31 July 2023, supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards, the advances achieved in the systems for data collection and management have enabled greater integration of the sustainability information. Each of the tables in this Sustainability Statement specifies the changes with regard to the previous year, so that improvements in the scope, data sources and reporting criteria can be clearly identified. In accordance with the commitment acquired in the previous year, in which the Group undertook to explain any change in the presentation or preparation of the sustainability information - including the reasons for the change, replacement of parameters and, where possible, the disclosure of revised comparative figures - this year the possibility of recalculating the figures for social and environmental indicators was assessed in view of the expanded perimeter. Even so, it was decided that the recalculation of social indicators could distort the representative quality of the data, so the scope of the information is specified for each of the tables included in the report for the years 2024 and 2025. As regards the other indicators, each table includes a footnote explaining any variation in the data from the previous year. 79
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Information about errors from previous periods Since this is the second year in which the Gestamp Group has reported information under Commission Delegated Regulation (EU) 2023/2772, of 31 July 2023, supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards, materiality errors from previous periods are identified in the following indicators. Standard Indicator Description E1 E1-6 • Carbon footprint: Scope 3 Category 15 S1 S1-7 • Non-salaried workers S1 S-16 • Gender pay gap • Ratio of the total annual remuneration of the person with the highest salary to the average total annual remuneration of all employees (excluding the highest paid person) In the indicators added in the table above, the data for the 2024 financial year have been recalculated to adapt it to the methodology required by the ESRS, as well as to guarantee comparability with the figures presented in the current financial year. If this is the case in future reports, the Group undertakes to provide a detailed description of the same, indicating the nature of the errors and the correction of each previous period included in the sustainability statement to the extent possible. In the event that correction of the error is not possible, the Panel undertakes to disclose the circumstances that led to the existence of such condition. Information derived from other legislation or generally accepted pronouncements on sustainability reporting Investments must be directed to sustainable projects and initiatives with a view to making the economy, the business community and wider society more resistant to the current and future effects of climate change and environmental emergencies. A common language is therefore required in addition to a clear definition of what is meant by "sustainable". In response to this challenge, the European Commission has published a classification system known as European Union Taxonomy (Regulation (EU) 2020/852). This Sustainability Statement discloses additional information about EU Taxonomy with a view to guaranteeing compliance with the EU's climate and energy targets for 2030 and, in turn, reaching the EU's net-zero target by 2050. As in the previous year, given the uncertainty that exists in Spain regarding the transposition of the European Corporate Sustainability Reporting Directive (CSRD) and the requirement for the company to consolidate its disclosures in Acek's Consolidated Statement, the requirements of Spanish Law 11/2018 have also been fulfilled, including the Table of Contents in the Appendices to the Gestamp Group's Sustainability Statement.6 80 6Majority shareholder of Gestamp Automoción.
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In addition, no Disclosure Requirement or Data Point have been included by reference outside of this Statement of Sustainability. Incorporation by reference This Sustainability Statement does not include information by reference that responds to the requirements of the European Sustainability Reporting Standards (ESRS). The specifications for each disclosure requirement in the case of including information by reference to the Financial Statements would be found in the Annex entitled " Table of contents according to Commission Delegated Regulation (EU) 2023 of 31 July 2023 supplementing Directive 2013/34/EU of the European Parliament and of the Council with regard to Sustainability Reporting Standards". Transitional provision related to the value chain With regard to the value chain, Gestamp includes quantitative information on Scope 3 of the carbon footprint. In the case of estimates using indirect sources, such as average sectoral data or other surrogate variables, the parameters used shall be indicated, the basis for their preparation shall be described, the degree of accuracy and the actions envisaged to improve accuracy in the future. Use of phase-in provisions pursuant to Appendix C of ESRS 1 Below are the sections on which Gestamp has made use of the transitional provisions in accordance with Appendix C of ESRS 1:7 ESRS Associated disclosure Full name of the disclosure requirement ESRS 2 SBM-1 Section 40, letter c): list of additional significant sectors of the ESRS. ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business mode Information related to section 48e) “Anticipated financial effects” ESRS E1 E1-9 Anticipated financial effects from material physical and transition risks and potential climate-related opportunities. ESRS E2 E2-6 Anticipated financial effects from pollution-related impacts, risks and opportunities. ESRS E3 E3-5 Anticipated financial effects from water and marine resources- related impacts, risks and opportunities. ESRS E4 E4-6 Anticipated financial effects from biodiversity and ecosystem-related impacts, risks and opportunities. ESRS E5 E5-6 Anticipated financial effects from resource use and circular economy-related impacts, risks and opportunities. ESRS S1 S1-11 Social protection. ESRS S1 S1-15 Work-life balance. 81 7Regarding the transitional provisions, Gestamp, in this report, takes advantage of the relief introduced by the “Quick Fix” Delegated Act. On July 11, 2025, the European Commission adopted the “Quick Fix” Delegated Act to support companies classified as “Wave 1” under the transitional provisions, which extend to the 2025 and 2026 tax years.
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Independent verification report This "Consolidated non-financial information statement and sustainability information" has been verified in accordance with applicable regulations, and the Independent Verification Report carried out by a third party, which includes the conclusions of said review, is included in the annexes. 82
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GOV-1: The role of the administrative, management and supervisory bodies Board of Directors and its Committees BOARD OF DIRECTORS Gestamp's Board of Directors is responsible for effectively assuming the Group's duties of supervision, management, monitoring and representation attributed by Law and its Articles of Association, and, as its core mission, for developing and precisely organising the implementation of the Group's strategy, and monitoring and enforcing the management’s compliance with those objectives, while respecting the purpose and interests of Gestamp. In 2025, the Board of Directors met on 10 occasions. All meetings were chaired by the President and the attendance ratio was 99.17%, as due to unavoidable personal commitments, Ms. Concepción Rivero Bermejo was unable to attend one meeting. However, she issued her corresponding delegation and voting instructions in favour of the Chairman of the Appointments and Remuneration Committee, Mr. Alberto Rodríguez Fraile Díaz. COMPOSITION The Board of Directors is composed of 12 members, of which 2 are executive, 3 are proprietary, and 7 are independent directors. In view of the board's composition, the seven independent directors represent 58% of the total number of board members. There is no workforce representation on the Board of Directors. Mr. Francisco José Riberas Mera and Ms. Patricia Riberas López are the only executive members of the Board of Directors, with all remaining 10 members being non- executive directors. Gestamp's Board of Directors consists of 5 female members and 7 male members. Consequently, female directors represent 42% of the total number of board members. Member Post Category Mr. Francisco José Riberas Mera Executive Chair Executive Ms. Patricia Riberas López Board Member Executive Mr. Juan María Riberas Mera Vice President Proprietary Director (non- executive) Mrs. Chisato Eiki Board Member Proprietary Director (non- executive) Mr. Makoto Takasugi Board Member Proprietary Director (non- executive) Mr. César Cernuda Rego Board Member Independent (non-executive) Ms. Ana García Fau Board Member Independent (non-executive) Mr. Alberto Rodríguez-Fraile Díaz Board Member Independent (non-executive) Mr. Javier Rodríguez Pellitero Board Member Independent (non-executive) Mr. Pedro Sainz de Baranda Riva Board Member Independent (non-executive) Ms. Concepción Rivero Bermejo Board Member Independent (non-executive) Ms. Loreto Ordóñez Solís Board Member Independent (non-executive) 83
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Mr. David Vázquez Pascual Secretary Non-director Mrs. Elena Torregrosa Blanchart Vice-secretary Non-director FUNCTIONS In addition to those established by law, the functions and responsibilities of the Group's Board of Directors are set out under Article 8 of Gestamp's Regulations of the Board of Directors. On this basis, the Board of Directors is the highest governing body whose responsibilities include: • Approving and monitoring the Group's standard policies and strategies. Such policies include: ◦ the strategic or business plan, as well as management objectives and annual budgets; ◦ defining the Company and its group’s structure; ◦ sustainability policies based on the proposals of the Sustainability Committee; ◦ the policy concerning the control and management of financial and non- financial risks, and the acceptable risk level, based on the proposals of the Audit Committee; ◦ the Code of Conduct and other related standard policies and the Compliance Model (including the Criminal Risk Prevention Model). ◦ the policy concerning the remuneration of senior managers; and the policy concerning the remuneration of directors, based on the proposals of the Nomination and Compensation Committee submitted to the General Meeting for consideration. • Preparing and submitting information, including non-financial information, to Gestamp's General Meeting of Shareholders for approval, provided it has been validated by the Audit Committee. • Regularly monitoring internal reporting and control systems, including the Compliance Model, in conjunction with the Audit Committee. • Making sure that its Committees are functioning effectively, and monitoring the performance of the Group's managers assigned to sit on those committees. KNOWLEDGE, SKILLS AND EXPERIENCE For the purposes of defining the knowledge, expertise and experience that, as a whole, are deemed most appropriate for the Board of Directors and to verify the suitability of a candidate for a vacancy on the Board, the Nomination and Compensation Committee approves a competency matrix for the Board of Directors. The current Board of Directors' competency matrix is as follows: 84
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Francisco Riberas Mera Patricia Riberas López Makoto Takasugi Alberto Rodríguez Fraile Loreto Ordoñez Solís Pedro Sainz de Baranda Ana García Fau Juan María Riberas Mera Javier Rodríguez Pellitero César Cernuda Rego Chisato Eiki Marieta del Rivero Bermejo CATEGORY* E E P I I I I P I I P I PROFESSIONAL EXPERIENCE C. Appointments and Remuneration Audit Committee ESG Commission 1 Experience in governing bodies, management committees or the management of other listed or relevant companies. X X X X X X X X X X X X 2 Experience in strategy formulation and implementation. X X X X X X X X X X X X 3 Experience in expanding companies or consolidation processes. X X X X X X X X X X X 4 Experience in international environments. Europe X X X X X X X X X X X North America X X X X X X X X Asia X X X X X X X X Mercosur X X X X X X X X X 5 Experience in companies carrying out digital transformation or in high-technology sectors. X X X X X X X 6 Experience in the consumer discretionary goods sector. X X X X X X X X X 7 Experience in the automotive industry. X X X 8 Experience in the steel industry. X X X X 9 Experience in cybersecurity X COMPETENCIES, SKILLS AND KNOWLEDGE 10 Legal X 11 Accounting and finance X X X X X X X 85
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12 Committee X X 13 Risk management X X X X X X 14 ESG (Environmental, Social and Governance) X X X X X X DIVERSITY 15 Gender Women (41.67%) X X X X X Male (58.33%) X X X X X X X 16 Age Under 55 X X X X X Between 55 and 65 X X X X X X X Over 65 DURATION 0-4 years X X 5 - 11 years X X X X X X X X 12 or more X X *E: Executive, P: Proprietary, I: Independent 86
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This matrix is updated on a regular basis in line with any potential vacancies that may arise on the Board of Directors and the new challenges and opportunities faced by the Group in the short, medium and long term. According to the competency matrix applicable to the Board of Directors, the following six directors boast a range of skills and experience in various matters of sustainability: Ms. Chisato Eiki, Ms. Loreto Ordóñez Solis, Ms. Marieta del Rivero Bermejo, Mr. Gonzalo Urquijo Fernández de Araoz, Mr. Javier Rodríguez Pellitero, Mr. César Cernuda Rego and Ms. Ana García Fau. Similarly, according to the competency matrix applicable to the Board of Directors, the following five directors boast a range of skills and experience in risk management: Mr. Francisco José Riberas Mera, Ms. Patricia Riberas López, Mr. Alberto Rodríguez Fraile Díaz, Mr. Pedro Sainz de Baranda, Ms. Loreto Ordóñez Solis, and Ms. Ana García Fau. Finally, the matrix identifies Director César Cernuda Rego as having experience in cybersecurity. Likewise, the skills matrix identifies those members who have or have had experience in any international geographic area in which the Gestamp Group is present (Europe, North America, Asia and Mercosur), identifying 11 of the 12 members: Mr. Francisco José Riberas Mera, Ms. Patricia Riberas López, Mr. Juan María Riberas Mera, Ms. Chisato Eiki, Mr. Makoto Takasugi, Mr. Alberto Rodríguez Fraile Díaz, Mr. Pedro Sainz de Baranda, Ms. Ana García Fau, Ms. Loreto Ordóñez Solis, Ms. Marieta del Rivero Bermejo, Mr. César Cernuda. On the other hand, the Appointments and Remuneration Committee approves an annual Training Programme for the board members. The Training Programme for the board members for 2023 included three sessions dealing with (i) the impact of ESG issues on the companies’ general strategy, (ii) circularity and (iii) regulatory compliance, human rights, the environment and supply chain management. The programme for 2024 included a session dealing with the application of community law on environmental taxonomy to suppliers in the wider automotion sector and Gestamp in particular, as well as the impact of the evaluation criteria for ESG rating agencies for family businesses, and Gestamp in particular. In 2025, the programme included, among others, a session on criminal risks for legal persons that focussed on the new aspects introduced in the Spanish Penal Code and the risk of corruption. In view of the foregoing, the Nomination and Compensation Committee makes sure that the Board of Directors has access to sufficient knowledge, expertise and experience to identify, define and monitor the company's material impacts, risks and opportunities. 87
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SUSTAINABILITY COMMITTEE The purpose of the Sustainability Committee is to assist the Board of Directors with a number of tasks, including the tasks of proposing, supervising, reviewing and ensuring compliance with the Group's sustainability policies regarding environmental, social and corporate governance matters. In 2025, the Sustainability Committee met on 7 occasions. All the meetings were presided over by the Chairman, and the attendance rate was 95.83%. In this regard, Ms. Concepción Rivero Bermejo could not attend one meeting, nonetheless issuing the corresponding delegation and voting instructions in favour to the Chairman of the Sustainability Committee, Mr. César Cernuda Rego. COMPOSITION A total of 3 members sit on the Sustainability Committee. While they are all non- executive directors, 1 is a proprietary director and 2 are independent directors. This composition means that the three independent directors represent 67% of the total number of Sustainability Committee members. Member Post Category Mr. César Cernuda Rego President Independent (non-executive) Mrs. Chisato Eiki Board Member Proprietary Director (non- executive) Mrs. Marieta del Rivero Bermejo Board Member Independent (non-executive) Mr. David Vázquez Pascual Secretary Non-director Mrs. Elena Torregrosa Blanchart Vice-secretary Non-director Mr. Carlos Franch Jiménez Deputy Secretary Non-director FUNCTIONS Under Article 42 of the Board of Directors Regulations, the Sustainability Committee carries out the following duties: • Proposing the Strategic ESG Plan to the Board of Directors and monitoring the degree to which its targets are being met at all times. • Periodically assessing and reviewing the corporate governance system and the Group's environmental* and social policies in order to ensure that they fulfil the mission of promoting social interest and take into account the legitimate interests of the remaining stakeholders, as appropriate. • Monitoring the Group’s environmental*, social and corporate governance practices to ensure that they are aligned with the established strategy and policy. • Overseeing and evaluating the diverse stakeholder relationship processes regarding environmental*, social and corporate governance matters, while ensuring that responsible communication practices are followed. * Climate change mitigation . 88
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AUDIT COMMITTEE The purpose of the Audit Committee is to assist the Board of Directors with a number of tasks including oversight of internal and external audit processes concerning risk management and control systems, reporting systems and internal control procedures. In 2025, the Audit Committee met on 13 occasions. All the meetings were presided over by the Chairman, and the attendance rate was 100%. COMPOSITION A total of 3 members sit on the Audit Committee. While they are all non-executive directors, 1 is a proprietary director and 2 are independent directors. This composition means that the number of independent directors represents 66.66% of the total number of Audit Committee members. Member Post Category Mr. Javier Rodríguez Pellitero President Independent (non- executive) Mr. Juan María Riberas Mera Board Member Proprietary Director (non- executive) Ms. Ana García Fau Board Member Independent (non- executive) Mr. David Vázquez Pascual Secretary Non-director Mrs. Elena Torregrosa Blanchart Vice-secretary Non-director FUNCTIONS Under Article 40 of the Group's Board of Directors Regulations and Article 7 of the Group's Comprehensive Risk Management System Policy (“ CRMS Policy”), the Audit Committee carries out the following duties: • Supervises and evaluates the process of preparing, the integrity and the presentation of financial and non-financial information, checking compliance with regulatory requirements and the correct application of accounting criteria. • Periodically reviews the internal control and risk management systems for financial and non-financial risks, including tax risks, and discuss with the auditor any significant weaknesses in the internal control system detected during the audit, all without undermining the auditor's independence. • In respect of risk control and management, acts in conjunction with the Internal Audit and Risk Management Department to submit the risk control and management policy (and any alterations to the same) to the Board of Directors for consideration. The proposed policy will identify and determine the types of financial and non-financial risks (particularly, though not exclusively, operational, technological, legal, social, environmental, political and reputational risks, including risks of corruption) to which the Group is exposed, so that the primary risks can be duly detected, managed and reported. In this regard, it: ◦ Ensures that the Internal Audit and Risk Management Department is functioning effectively. 89
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◦ Assesses whether the Group has the organisational structure, personnel, budget, policies and processes required to identify and control its primary risks. ◦ Is informed of the measures in place to mitigate the impact of identified risks, should they occur. ◦ Undertakes an annual reappraisal of the list of most significant risks, which will include the identification and understanding of emerging risks, as well as the assessment of the established level of risk. ◦ Proposes to the Board of Directors the level of risk regarded as acceptable by Gestamp, as well as any alteration to the same. • Oversees compliance with the Group's corporate governance rules and internal codes of conduct, ensuring that the corporate culture is aligned with its purpose and values. • With the support of the Ethics Committee, the Compliance Office and the Regulatory Compliance Unit, it supervises compliance with the Code of Conduct, the operation of the Group's reporting channel and the Criminal Risk Prevention Model. These units report periodically to the Commission within the scope of their powers. 90
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NOMINATION AND COMPENSATION COMMITTEE The Nomination and Compensation Committee assists the Board of Directors by monitoring and proposing the appointment and remuneration policies applicable to Gestamp's Board of Directors and the Group's senior management. In 2025, the Nomination and Compensation Committee met on 8 occasions. All the meetings were presided over by the Chairman, and the attendance rate was 100%. COMPOSITION The Nomination and Compensation Committee is composed of 3 members, all of them independent and therefore non-executive. Member Post Category Mr. Alberto Rodríguez-Fraile Díaz President Independent (non-executive) Mr. Pedro Sainz de Baranda Riva Board Member Independent (non-executive) Ms. Loreto Ordóñez Solís Board Member Independent (non-executive) Mr. David Vázquez Pascual Secretary Non-director FUNCTIONS Under applicable legislation and Gestamp's Board of Directors Regulations, the Nomination and Compensation Committee is not responsible for matters of Sustainability. However, pursuant to Article 41 of the Board of Directors Regulations, the Committee undertakes the following tasks: • Formulating the Board of Directors' Selection and Diversity Policy and making sure that the Board of Directors is diverse in its composition and has expertise and experience in a range of areas, including sustainability. • Formulating and submitting the Board of Directors' training plans to the Board of Directors for approval and making sure that they include sessions relating specifically to matters of sustainability. • Preparing the Remuneration Policy applicable to board members and senior managers; the policy will cover a number of aspects including annual performance- related pay tied to matters of sustainability. 91
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MANAGEMENT AND SUPPORT UNITS The remit of the committees or bodies described below covers a number of areas including the responsibility for controlling, managing and monitoring impacts, risks and opportunities (IRO) in the Gestamp Group. ESG COMMITTEE The Group's key managing directors sit on the ESG Committee which is chaired by the Board of Directors' Executive Chair and charged with the task of integrating and overseeing sustainability initiatives across the organisation. It is primarily responsible for: • Setting out the ESG Strategy: it develops and sets out the Group's sustainability strategy in line with business targets and corporate values. That includes setting clear environmental, social and governance goals. The resulting strategy is subsequently submitted to the Sustainability Committee which ultimately reviews and submits it to the Board of Directors for approval. • Monitoring and Launching ESG Initiatives : it coordinates the launch of ESG initiatives across all the Group's departments, and ensures that they meet their individual sustainability commitments. • Embedding sustainability into decision-making processes: it embeds aspects of ESG into strategic decisions and prioritises projects and practices that promote long-term sustainability. • ESG Risk Assessment and Management: it identifies and assesses ESG risks that may impact business activities. • Formulating ESG Policies and Procedures: the company's sustainability practices are regulated under policies that are presented to the Audit Committee and subsequently submitted to the Board of Directors for approval; steps are taken to ensure that departments follow appropriate procedures in rolling out these policies. • Measuring and monitoring ESG performance: it determines the metrics by which the success of ESG initiatives is measured, and regularly evaluates the company's performance in every area, while making sure that data are collected and reported uniformly. • Transparency and Communication : it transparently and regularly reports information about ESG to internal and external stakeholders. • Regulatory Compliance and Adherence to Standards: it guarantees compliance with sustainability regulations and standards, by adapting the company's policies to reflect any regulatory change or new market expectations. The ESG Committee, led by the Executive Chairman and with representation from the company's senior management, meets at least twice a year. 2 meetings were held in 2025. 92
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ESG DEPARTMENT The ESG Committee and Internal Audit and Risk Management Department carry out their respective tasks with the support of the ESG Department. They liaise with the ESG Department, which is headed by the Chief Sustainability Officer, to establish the level of ambition, determine the scope of the Strategic ESG Plan and devise measures to achieve the goals of the plan. The ESG Department also coordinates with all other production departments and plants involved in the company's activities in order to identify the Gestamp Group's material impacts, risks and opportunities. EXECUTIVE RISK COMMITTEE The Gestamp Group's Executive Risk Committee will support the Board of Directors and the Audit Committee in the performance of their functions related to the control and management of risk. As the decision-making body that –among other aspects– ensures the attainment of the Group’s objectives, it will have the following functions: • It will assess potential changes to the CRMS Policy and draft its proposal for the approval of the competent governing bodies. • It will approve the action plans and measures in response to the identified risks, ensuring that the risks remain aligned with the established level of risk, and reporting to the Audit Committee, through the Internal Audit and Risk Management Department. • It will review and approve the drafting and updating of the risk maps. • It will define the risk management strategy in accordance with the indications received from the Audit Committee. • It will be periodically informed of the relevant aspects of risk management and will approve the most critical decisions in relation thereto. • The representative designated by the Executive Risk Committee may attend the meetings scheduled by the Audit Committee, where the former will explain business trends and associated risks. The Executive Risk Committee shall meet at least once a year. This Committee will be formed by the Group’s Executive Chair and the Managing Director, if any, in addition to, as a maximum, four other members of the Management Committee designated by the Executive Chair. To carry out its functions, it will be assisted by the Internal Audit and Risk Management Department and by the Executive Risk Committee. 93
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INTERNAL AUDIT AND RISK MANAGEMENT FUNCTION The Internal Audit and Risk Management Department, under direct supervision of the Audit Committee, shall have the following responsibilities: • Ensure that risk control and management systems are functioning correctly and, specifically, that major risks the Group is exposed to are correctly identified, managed and quantified. • Actively engaging in the formulation of risk strategy and key decisions regarding its management. • Ensure that risk control and management systems are mitigating risks effectively in accordance with this Comprehensive Risk Management System Policy. • Coordinate with the Operational Risk Committee the processes for the identification and assessment of risks through the preparation and updating of the risk maps, bearing in mind the potential threats to the attainment of the Group’s objectives. • Coordinate with risk officers from each division/business unit/corporate department the process to measure risks, as well as the necessary controls, actions plans and procedures to mitigate them. • Consolidate the information on risks and prepare risk reports for the Audit Committee and Risk Committees. • Support the Risk Committees in the performance of their functions. ETHICS COMMITTEE The Ethics Committee is a collegiate body with initiative and control powers. Its activity is supervised by the Audit Committee and consists mainly of: • Promoting a culture of ethics and compliance in the Group. • Supporting the Audit Committee in its duties related to the Compliance System and, in particular, to the Code of Conduct and Gestamp's Complaints Channel. • Promoting the dissemination and knowledge of the Code of Conduct and supervising its compliance. • Establishing and developing procedures and action protocols to ensure compliance with the Code of Conduct. • Ensuring compliance with the rules established in the Code of Conduct and the functioning of the prevention mechanisms established to avoid breaches. • Drawing up and proposing the implementation of specific measures for the prevention and detection of breaches of the Code of Conduct. • Proposing to the Audit Committee the reforms to the Code of Conduct that it deems necessary or desirable to ensure ethical behaviour within Gestamp. • Investigating any complaints submitted through the Internal Communications Channel and, in response, establishing the corresponding precautionary or disciplinary measures. • Regularly reporting to the Audit Committee on compliance with the Code of Conduct and effectiveness of Gestamp's Complaints Channel. 94
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• Establishing periodic training plans in relation to the Code of Conduct and its internal implementing regulations. COMPLIANCE OFFICE The Compliance Office reports to the Ethics Committee. Its tasks include: • Receiving, directing, investigating when appropriate, following up, properly reporting and documenting complaints made by employees or third parties concerning actions that could potentially constitute a breach of the Code of Conduct or internal rules and regulations, or any potentially unlawful practices, including reports of corruption and bribery. • Providing further information, answering questions, responding to queries and addressing proposals for improvement regarding the content of the Code of Conduct and any implementing regulations. • In any case, promoting the proper operation of training plans, document management, the complaints system and internal investigations in the different risk areas. REGULATORY COMPLIANCE UNIT The Regulatory Compliance Unit liaises with the Audit Committee chiefly to guarantee regulatory compliance and prevent criminal risks. Its tasks include: • Promoting a culture of prevention based on the principle of absolute rejection of the perpetration of illegal acts and situations of fraud, and on the application of the principles of ethics and responsible behaviour to the activity of all Gestamp professionals. • Ensuring the establishment of the primary policies, procedures, controls and internal regulations to be implemented within the Group relating to regulatory compliance. • Promoting the periodical review of the Criminal Risk Prevention Model and, in particular, revising the risks to which the Group is exposed and the controls assigned to mitigate them. • Monitoring the operation, effectiveness and compliance of the Criminal Risk Prevention Model. • Managing and coordinating the tasks of disseminating and providing training in relation to the Criminal Risk Prevention Protocol. • Regularly informing the Audit Committee of (i) the risk areas which may affect the Group, (ii) the results of the assessments and monitoring of the Criminal Risk Prevention Protocol, (iii) the measures implemented to control and mitigate criminal risks. • Working alongside the Compliance Office to investigate any reports filed via the authorised channels which may incur the criminal liability of the legal person. 95
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• Promoting a culture of third-party risk management, especially with regard to integrity risk, and compliance with the applicable regulations on international sanctions. • Developing and updating the procedure for third-party evaluation and issuing an opinion on third-party risk within the scope of the third-party due diligence policy. Of all these bodies, the Ethics Committee, the Compliance Office and the Regulatory Compliance Unit make up the Group's compliance department. The department supports the Board of Directors and, in particular, the Audit Committee, which is responsible for overseeing the Code of Conduct, the Complaints Channel and the Group's internal control programmes. IROS MANAGEMENT CONTROLS AND PROCEDURES The identification, assessment and management of risks have always been at the heart of Gestamp's business ethos and strategy. In view of the frequent geopolitical and economic shifts in recent times, these practices have taken on particular importance. Risk management procedures implemented across all levels and business units of the organisation helps to mitigate - significantly in some cases - the consequences and probability of occurrence of adverse events. Such procedures may also help to transform risks into opportunities and enable the group to gain a competitive edge. To ensure adequate management of risks and opportunities, Gestamp has an Integrated Risk Management System that systematically identifies, evaluates and manages financial and non-financial risks. This process, driven by the Board of Directors, aims to generate sustainable value and protect the interests of stakeholders. The annual risk management process includes reviewing and approving assessment scales, updating the Corporate Risk Map, and monitoring indicators and action plans to keep risks at acceptable levels. This dynamic system adapts to the evolution of businesses, regulations and good governance recommendations, including ESG risks aligned with the 23-25 ESG Plan. Moreover, Gestamp implements a number of policies, as described throughout this statement, with a view to avoiding, mitigating and minimising impacts and risks, on the one hand, and seizing opportunities, on the other. All of them are approved by the Board of Directors. In addition, twice a quarter (8 times a year), the Sustainability Committee reviews the Group's Strategic ESG Plan and other key aspects to ensure that the company has its finger on the pulse. Finally, Gestamp continues to work on the Sustainability Information Internal Control System (SCIIS), whose Governance Model was approved on July 28, 2025 (see GOV-5 for more information). 96
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GOALS RELATED TO THE IROS Alongside all of the Group's other corporate departments, the ESG Department is responsible for conducting the Double Materiality Assessment with a view to identifying the Group's impacts, risks and opportunities, and helping the ESG Committee and Sustainability Committee to draft the Strategic ESG Plan. Once the Strategic ESG Plan is drafted, it is submitted by the ESG Committee to the Sustainability Committee for consideration. The Sustainability Committee reviews the Strategic ESG Plan before submitting the final version to the Board of Directors for approval. Once it has been approved by the Board of Directors, the measures taken to achieve the targets set out in the plan are monitored by the ESG Committee, which is assisted in this task by the Sustainability Committee, whose chair presents the degree to which targets are being met at every board meeting. In 2025, all Sustainability Committees have reviewed the status of the objectives that make up the ESG Plan 23-25 and have set out their progress, as well as corrective actions or action plans to ensure their achievement. In addition, in all the Boards of Directors, the Executive Chairman, accompanied and supported by the members of the Sustainability Committee, presented the status of the ESG 23-25 Plan, as well as the company's main progress in sustainability and some relevant aspects that occurred during the quarter. Finally, on December 16, 2025, Gestamp's Board of Directors approved the new ESG Plan 26-30, following a proposal by the Sustainability Committee. 97
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GOV-2: Information provided to the company's administrative, management and supervisory bodies and sustainability issues addressed by them Information and discussion on sustainability issues Gestamp has a solid governance model that ensures the proper management of the most significant ESG Impacts, Risks and Opportunities:8 98 8Including climate change.
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REPORT TO THE BOARD OF DIRECTORS AND COMMITTEES The ESG Department, headed by the Chief Sustainability Officer, reports at least twice a year to the ESG Committee on sustainability issues. Similarly, the ESG Committee, through the ESG Department and its CEO, reports at each session of the Sustainability Committee (7 sessions in 2025) on all matters discussed in the ESG Committee and the sustainability activities carried out by the ESG Department and the business units. At these meetings, the ESG Department reports, among other things, on the materiality issues identified through the double materiality analysis, and on the results and effectiveness of the adopted policies, actions, parameters, and targets. All materiality issues identified through the double materiality analysis were shared during 2025. Furthermore, the appendix "Material impacts, Risks, and Opportunities identified during the reporting period" identifies the issues addressed by the various governing bodies. Furthermore, the ESG Department reports annually to the Audit Committee on the sustainability information included in the Gestamp Group's annual financial reports and, when circumstances require, on any relevant regulatory matters. Likewise, the Internal Audit and Risk Management function reports to the Audit Committee at least six times throughout each fiscal year on all relevant risk management aspects and the activities carried out by the Internal Audit and Risk Management function. In particular, it reports on the results of the annual risk assessment and the resulting risk map. Regarding compliance risks, the Compliance Office attends the Audit Committee twice a year to report on compliance with the Code of Conduct and the operation of the Whistleblowing Channel, and the Regulatory Compliance Unit attends at least three times to report on the activities carried out by the unit in matters of regulatory compliance and on the different activities carried out for the management of the Criminal Risk Prevention Model and the Third Party Due Diligence System. Finally, both the Chairman of the Sustainability Committee and the Chairman of the Audit Committee report at each Board of Directors meeting on the matters that have been discussed in both Committees. 99
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GOV-3: Integrating sustainability-related performance into incentive systems The performance evaluation of employees, based on the individual objectives set at the beginning of the year by each employee's manager, will impact a percentage of the annual variable compensation, which is made up of the following components and relative weights: • Financial objectives, with a relative weight of 50%. • Strategic objectives, with a relative weight of 25%, including ESG objectives of the 2026-2028 Strategic Plan, representing 12.5%.9 • Individual objectives, with a relative weight of 25%. On the other hand, the evaluation of goal achievement for determining the variable compensation amounts payable to Directors with executive functions is carried out by the Appointments and Remuneration Committee. Once the amount is determined, it is approved by the Board of Directors. Since both the annual variable remuneration and the multi-year variable remuneration are part of a variable remuneration system linked, among other things, to quantifiable economic and financial objectives included in the Consolidated Annual Accounts of the Group, their consolidation and payment are deferred until the external audit and their approval by the General Shareholders' Meeting. The Company's Management bodies do not have any variable elements in their remuneration structure, as specified in the Annual Remuneration Report to the Board. Remuneration of the Board The Group's Directors' Remuneration Policy, approved by the General Shareholders' Meeting at its meeting of May 8, 2025, defines the following principles that guide the remuneration of directors in their capacity as such: • Adequacy. It must be sufficient to compensate for the dedication, qualifications, and responsibility of the directors without compromising their independence in any way. • Competitiveness. It must be able to attract and retain talented board members and, at the same time, be in line with market criteria for companies with similar characteristics at the national or international level. To this end, the Appointments and Remuneration Committee will periodically conduct a comparative analysis of the remuneration systems of comparable companies. • Dedication. You must pay attention to the dedication and responsibility of each of the advisors. • Reasonableness. It must be able to reflect the reality of the Group and the sector in which it operates, as well as the economic situation at any given time. • Proportionality. This must be determined taking into account the Group's remuneration and employment conditions, as well as those of the sector and comparable companies. Furthermore, when reviewing the remuneration amounts 100 9These include the three climate-related goals. Each goal in the plan carries equal weight.
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of directors in their capacity as such, consideration will be given to the review applied generally to employees of the Gestamp Group and, in particular, to the Gestamp Group's management team. • Good governance and transparency. The Board of Directors will adopt the necessary measures to ensure good governance and transparency regarding the remuneration received by the Directors in order to guarantee the confidence of investors and shareholders. The remuneration of the Directors for the performance of their executive functions is further guided by the following principles set out in the Remuneration Policy: • Performance. Includes a variable component linked to the achievement of specific objectives, aligned with the strategic objectives and the creation of value for the Group, so that the interests of managers are aligned with those of the Group. • Equity. The remuneration of directors for the performance of executive functions is proportional to their level of responsibility and experience, always guaranteeing non-discrimination on the grounds of gender, age, origin, sexual orientation and identity, religion or race in line with the provisions of the Selection and Diversity Policy of the Board of Directors. The remuneration of Gestamp's directors is also published individually in the Directors' Remuneration Report and the Annual Corporate Governance Report. 101
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REMUNERATION OF DIRECTORS (thousands of euros) Name Fixed Rem. Attendanc e fees Rem. for committe e members hip Salaries Short- term variable compensa tion Long-term variable compensa tion Comp. payment Other items* Total 2025 Total 2024 Mr. Francisco José Riberas Mera - - - 788 426 - - - 1.214 1.078 Ms. Patricia Riberas López - - - 234 139 - - 5 378 0 Mr. Alberto Rodríguez-Fraile Díaz 90 - 40 - - - - - 130 130 Ms. Ana García Fau 90 - 25 - - - - - 115 130 Mr. César Cernuda Rego 90 - 40 - - - - - 130 130 Mr. Pedro Sainz De Baranda 90 - 20 - - - - - 110 110 Mr. Javier Rodríguez Pellitero 90 - 35 - - - - - 125 110 Ms. Concepción Del Rivero Bermejo 90 - 20 - - - - - 110 110 Mr. Gonzalo Urquijo Fernández De Araoz 32 - 7 - - - - - 39 110 Mr. Makoto Takasugi 90 - - - - - - - 90 68 Mr. Juan María Riberas Mera 90 - 20 - - - - - 110 110 Ms. Loreto Ordoñez 90 - 20 - - - - - 110 110 Mrs. Chisato Eiki 90 - 20 - - - - - 110 110 Total 932 0 247 1.022 565 0 0 5 2.771 2.306 *Other concepts include remuneration in kind: life insurance premiums and company car. It is hereby stated that Ms. Patricia Riberas López was appointed Executive Director of the Company, on May 8, 2025, and the amounts shown here are those accrued from that date. 102
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AVERAGE REMUNERATION OF DIRECTORS BY GENDER (thousands of euros) 2025 2024 Women 164,6 115,0 Men 243,4 204,8 The annual variable remuneration will reward the contribution to the achievement of specific and quantifiable objectives established by the Gestamp Group, which may include financial and strategic objectives, and different weighting levels may also be established between them. The economic and financial objectives will be linked to the performance of the Gestamp Group throughout each year in accordance with the metrics established in the budget for that year and may be based on, among others, EBITDA, Net Debt, the level of investments (CAPEX), Working Capital and Free Cash Flow. Strategic objectives may include goals linked to the development of certain policies of special relevance to the Gestamp Group such as, among others, sustainability from its social, environmental and good corporate governance (ESG) perspective, talent management, business efficiency and competitiveness, the development of integrated management systems or the development of new technologies. The following bodies are defined as competent in the remuneration of the Directors: REMUNERATION OF BOARD MEMBERS IN THEIR CAPACITY AS SUCH The maximum amount of annual remuneration for all directors in their capacity as such will be that determined for this purpose by the General Meeting through the approval of the corresponding Remuneration Policy, and will remain in force until the latter agrees to its modification, although the Board of Directors may reduce its amount in the years in which it deems it appropriate, as indicated in article 22 of the Articles of Association. The determination of the remuneration of each director in their capacity as such will be the responsibility of the Board of Directors, on the proposal of the Appointments and Remuneration Committee, which will take into account for this purpose the functions and responsibilities attributed to each director, their membership in committees of the Board and the other objective circumstances that it considers relevant. REMUNERATION OF DIRECTORS FOR PERFORMANCE OF EXECUTIVE FUNCTIONS As established in article 529 octodecies of the LSC, the remuneration of directors for the performance of executive functions will be adjusted to this Remuneration Policy and will be reflected in the contracts approved in accordance with the provisions of article 249 of the LSC. In the case of the Chief Executive Officer, the annual variable compensation for fiscal year 2025 includes financial parameters, representing 75% of the total annual variable compensation, and strategic objectives, representing 25%. The strategic objectives 103
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include ESG objectives and objectives related to the Capital Expenditure (CapEx) plan, both with equal weight (12.5% each). These parameters consist of: • On the one hand, compliance with the ESG Plan 23-25, which was approved by the Board of Directors on December 19, 2022, following a proposal from the Sustainability Committee. • On the other hand, improving the efficiency of the Group's Capital Expenditure or CAPEX, ensuring our growth and productive capacity through improved efficiency in the use of our available assets. Senior Management Senior Management is responsible for the strategic organization of the Group, through the dissemination, implementation and monitoring of the business strategy and guidelines. From an organizational point of view, Senior Management performs its functions in accordance with the different geographical markets and operating segments in which the Company operates. Members of Senior Management as of December 31, 2025: Name or company name Position(s) Mr. Manuel de la Flor Riberas Director General of Human Resources Mr. David Vázquez Pascual Director General of Legal, Tax and Corporate Governance Advisory Services Ms. Patricia Riberas López Director of the Office of Transformation and Organization Mr. Ignacio Mosquera Vázquez Corporate Finance Director Mr. Juan Miguel Barrenechea Izarzugaza Corporate Commercial Director Mr. Javier Ignacio Imaz Corporate Purchasing Director Mr. Fernando Macias Mendizabal Corporate Director of Operations and Director of the Southern Europe Division Mr. Cesar Pontvianne de la Maza Director of the Mechanisms Business Unit (Edscha) Mr. Juan Carlos Peña Fernández Director of Internal Control and Internal Audit At the request of the CNMV, Mr. Juan Carlos Peña Fernández is included in this list, in his capacity as Director of Internal Control and Internal Audit, despite not being a member of Senior Management. It is hereby stated that Ms. Patricia Riberas López ceased to be a member of senior management upon her appointment as Executive Director of the Company, effective May 8, 2025. Therefore, the aggregate remuneration of senior management during the reference period includes the remuneration of Ms. Patricia Riberas López as a senior executive, until May 7, 2025. The remuneration of the members of Senior Management amounts to 5,182 thousand Euros. 104
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AVERAGE REMUNERATION OF SENIOR MANAGEMENT BY GENDER (thousands of euros) 2025 2024 Women 575,8 563,3Men Other concepts include remuneration in kind: life insurance premiums and company car *Gender breakdown is not provided because there is only one woman in Senior Management. Patricia Riberas López does not contribute for the full year as a member of Senior Management; therefore, the remuneration included in the calculation has not been adjusted. The remuneration of Gestamp's Senior Management is also published in the Annual Corporate Governance Report. Specific considerations CLIMATE CHANGE The Gestamp Group takes into account climate-related considerations in the remuneration of members of the management, governing and supervisory bodies, as well as performance against GHG emissions reduction targets. Climate-Based Compensation As specified throughout this chapter, the variable compensation for employees and the Chief Executive Officer is linked to the ESG 23-25 Plan, which incorporates objectives related to climate change. For more information, see chapter E1-4. GOV-4: Due Diligence Statement The company presents below a correspondence chart that shows, in a clear and structured way, how the essential elements of the due diligence process are reflected in the different sections of the Sustainability Statement. 105
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Essential elements of Due Diligence Sections of the sustainability report Integrating due diligence into governance, strategy, and the business model The integration of due diligence into governance, strategy, and the business model is described in the report in "GOV-1: The role of the governing, management, and supervisory bodies," which outlines the functions of the Sustainability Committee, among other bodies; in "GOV-2: Information provided to the company's governing, management, and supervisory bodies and sustainability issues addressed by them," which represents the flow of information on sustainability-related issues; and "SBM-3: Significant impacts, risks, and opportunities and their interaction with the strategy and business model." Collaboration with affected stakeholders at all key stages of due diligence Collaboration with affected stakeholders at all key stages of due diligence is addressed within the report in "GOV-2: Information provided to the company's governing, management and supervisory bodies and sustainability issues addressed by them," which represents the flow of information with the company's internal stakeholders; "SBM-1: Strategy, business model and value chain," which explains stakeholder participation in setting the objectives of the ESG Plan; "SBM-2: Stakeholder interests and views," which explains the communication channels with stakeholders and their participation in the double materiality analysis; and "IRO-1: Description of the process for determining and assessing material impacts, risks and opportunities," which explains stakeholder participation in the double materiality analysis. Identification and evaluation of adverse impacts The identification and evaluation of adverse impacts are described and detailed in "SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model" and " IRO-1: Description of the process for determining and evaluating incidents, risks and opportunities of relative importance." Adoption of measures to address these adverse impacts The adoption of measures to address adverse impacts detected in the company's dual materiality analysis is included in each of the thematic ESRS following the "MDR-A: Actions and resources in relation to sustainability issues of relative importance" Monitoring the effectiveness of these efforts and communication The monitoring of the effectiveness of each of the objectives included in "SBM-1: Strategy, business model and value chain " where the objectives of the ESG Plan 23-25 and the new ESG Plan 26-30 are indicated, is broken down in each of the ESRS. GOV-5: Risk management and internal controls for sustainability disclosure Gestamp has an Integrated Risk Management System (SIGR) that ensures the systematic and homogeneous identification, evaluation and management of risks of any nature that could affect the achievement of the Group's strategic objectives. This system, driven by the Board of Directors and based on the Risk Management Policy, contributes to the creation of value in a sustainable way and to the protection of the interests of the Group and its stakeholders. Gestamp is aware that ESG risks are closely linked to the geographical location of its plants and the complexity of the automotive sector's value chain. For this reason, 106
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through its ESG Plan 23-25 and the upcoming ESG Plan 26-30, the company aims to mitigate these risks in two ways: towards the company itself and towards its stakeholders and the surrounding community. During 2025, the Risk Management and ESG Management teams reviewed and updated the ESG risks present in Gestamp's Integrated Risk Management System with a dual objective: to ensure that the Risk Map is aligned with the company's ESG strategy and to understand the degree of contribution of the different areas of the ESG Plan to the mitigation of the Group's risks. Furthermore, progress was made in aligning and incorporating the risks identified in the Group's double materiality analysis into the corporate Risk Map to ensure that the necessary controls for their management are applied. The methodology used for the double materiality analysis is described in Chapter IRO-1 and is aligned with the Group's risk assessment methodology. The various IROs identified in the double materiality analysis, along with the strategies and actions to mitigate them, are detailed throughout the report according to their subject matter. In addition, the corporate risk map encompasses operational, strategic, financial, and compliance risks, including ESG risks. See Chapter " GOV-1: The Role of Management, Governance, and Supervisory Bodies," which outlines the governance strategy and model for ensuring risk mitigation. The conclusions of the risk assessments and internal controls follow the following flow: At every Audit Committee meeting throughout the year where internal audit reports are presented, any exceptions or weaknesses detected in the controls or in the quality of sustainability information are reported. This aspect is included in all plant-specific audit programs. Action plans are then established for the correction of these exceptions as quickly as possible. At each Audit Committee meeting, reports on the review of risks and internal controls are presented, prepared by both the Internal Audit and Risk functions. Internal audit programs include reviews of controls and data associated with the sustainability report, verifying their accuracy and reporting any exceptions detected. Similarly, 107
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reports are provided on the integration of the risks and controls associated with the sustainability report into the Group's Integrated Risk Management System and the corporate GRC tool designed for this purpose. Finally, action plans are established for each incident, and their implementation and effectiveness are monitored. In addition, an updated Risk Map incorporating ESG-related risks is presented annually to both the Audit Committee and the Board of Directors for their validation and approval. This report is also communicated to key employees and managers responsible for risk management, including the necessary action plans to maintain risks within the acceptable threshold defined by the system, including ESG risks, and compliance monitoring by stakeholders is ensured. INTERNAL CONTROL SYSTEM FOR SUSTAINABILITY INFORMATION During 2025, the Group made progress in the design and implementation of the Internal Sustainability Information Control System (ISICS). The ISICS Governance Model and Policy were approved by the Audit and Sustainability Committees, as well as by the Board of Directors at its meeting on July 28. The system is overseen by the Internal Audit Department and includes the identification and evaluation of preventive and detective controls, and their respective risks to be mitigated, with the objective of ensuring the quality, relevance, reliability and transparency of the sustainability information disclosed internally and externally by the Group. The Internal Sustainability Information Control System (ISICS) has been developed in accordance with the principles established in the Integrated Internal Control Framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Its implementation within the Group is being carried out using a methodology based on materiality criteria related to environmental, social, and governance (ESG) parameters. This model has resulted in a prioritization scale for the Group's plants and various companies, and implementation has begun at the plants identified as most relevant. The scope of the ISICS is reviewed annually, in line with market practices and trends, to ensure its continued suitability to the Group's structure. As described in the preceding section, the results of the implementation of the Internal Sustainability Information Control System (ISICS) are presented to the Audit Committees, reporting any exceptions or weaknesses detected in the controls or in the quality of the sustainability information. Action Plans are established for the correction of these exceptions as quickly as possible. These Action Plans are also monitored periodically by the Audit Committee. 108
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SBM-1: Strategy, business model and value chain Regarding its own operations, Gestamp designs, develops and manufactures metal components for the automotive sector and Gescrap is dedicated to the comprehensive recovery of metal waste for industry. Gestamp bases its strategy on three key aspects: being an innovative, competitive and sustainable company. • Strengthening its position as an innovative provider, moving forward together with customers, offering them innovative solutions to build more sustainable mobility. • Betting on competitiveness based on excellence in its operations and on the extensive use of all the advances of recent years in the field of Industry 4.0 and digitalization. • Advancing in the field of Sustainability in all the ways that society demands. With a long-term perspective and the goal of continuing to be the strategic global partner for automotive manufacturers in bodywork, chassis and mechanisms, Gestamp relies on a culture of continuous improvement to adapt its organizational and industrial structures, maintain its financial strength and be prepared for the future and the changes demanded by the market. The group's activity falls under NACE Rev. 2 code 29.32, corresponding to the "Manufacture of other components, parts and accessories for motor vehicles". This code reflects the company's main economic activities related to the design, development and manufacture of innovative metal components for the automotive sector, including technological solutions that improve vehicle safety and efficiency.10 In this way, Gestamp stands out for designing, validating, industrializing, and producing a wide variety of automotive components. Many of these are structural elements of the vehicle that, in the event of a collision, deform appropriately, transforming the maximum amount of kinetic energy into deformation work. Similarly, it designs and manufactures other components to achieve the required rigidity, reducing torsional flex under stress. This improved rigidity also contributes to enhancing the vehicle's dynamic performance. In addition to the above, other highly relevant aspects to consider in product development are comfort and durability. 109 10Corresponding to the main customer group we serve.
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We can group the product families that Gestamp works with into three main groups: Furthermore, Gestamp is a technology leader and has a wide variety of technologies that allow it to offer customers innovative solutions that meet the requirements of the industry, achieving a balance between safety, performance, weight and cost. Specifically, Gestamp is a leader in hot stamping, a technology that allows the manufacture of safer and lighter components, which means a reduction in the overall weight of the vehicle, decreasing energy consumption and, therefore, reducing CO2 emissions. Some of the technologies mentioned are: • Multistep • Hot stamping • Cold stamping • Stamping of high-strength steels • Profiling • Hydroforming • Welding and assembly • Laser welding of formats • Soldier Formats Gescrap, integrated into the consolidation perimeter, is a multinational company specializing in metal recycling and the comprehensive management of non-hazardous industrial waste, and is a leader in high-quality scrap metal management. It offers services to a wide range of industrial sectors that generate metal waste (scrap) as part of their manufacturing processes for subsequent treatment and sale to steel mills. These sectors include OEMs, stampers, Tier 1 and Tier 2 suppliers, service centers, machining centers, manufacturers of packaging, pipes, and structures, as well as the wind energy, rail, and white goods sectors. Furthermore, Gescrap is consolidating its presence in post-consumer waste management, seeking to recover value from all materials to achieve its zero-waste goal. From its beginnings, Gescrap has stood out for offering a personalized service to the automotive sector, becoming one of the benchmarks in this field. In this way, Gescrap is integrated into Gestamp's production processes, which generate high-quality pre-consumer scrap metal from the raw materials used. This scrap is collected by Gescrap, which subjects it to physical treatment to facilitate its 110
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reintegration into the production cycle. Subsequently, it is sold to steel producers, who melt it down and transform it back into steel for reintroduction into the market. This process contributes to the manufacture of steel with lower emissions by incorporating a significant percentage of recycled content and avoiding emissions derived from the extraction and production of that raw material, thus promoting a more circular and sustainable production model. 111
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The workforce profile is very diverse and constitutes one of the main pillars of the Group's development: Distribution of employees in 2025 by major countries and by gender 5.146 4.089 3.842 3.078 3.094 2.404 2.874 1.437 1.270 880 809 1.205 907 507 594 1.181 909 960 932 340 1.002 446 196 294 542 484 87 284 411 58 Men Women Spain Brazil China USA Germany Mexico Türkiye United Kingdom France Czech Republic Portugal India Poland Romania Argentina For the complete picture of all geographies see S1. The most relevant countries have been selected in this graph. 112
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Distribution of employees in 2024 by main countries and by gender 4.988 4.177 4.196 3.107 3.450 3.072 2.389 1.596 1.300 883 923 741 1.050 540 750 1.151 1.022 863 914 381 463 1.022 227 298 600 295 447 69 429 73 Men Women Spain China Brazil USA Germany Türkiye Mexico United Kingdom France Czech Republic Poland Portugal India Romania Argentina For the complete picture of all geographies, see S1. The information has not been restated for previous years to preserve its reliability. The scope covers 100% of the perimeter in 2025 and 98% in 2024. 113
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In accordance with IFRS 8 – “Operating Segments”, the segment information presented below is based on internal reports that are periodically reviewed by the Group Management Committee with the objective of allocating resources to each segment and evaluating its performance. The operating segments identified by the Group's Management Committee are based on a geographical perspective, except in the case of the companies in the Sideacero Subgroup, which are integrated into a single segment given the type of their activity; these segments and the countries that comprise them are as follows: Western Europe • Spain • Germany • United Kingdom • France • Portugal • Sweden • Luxembourg • Morocco Eastern Europe • Poland • Hungary • Czech Republic • Slovakia • Turkey • Romania • Bulgaria • Russia Mercosur • Brazil • Argentina North America • United States of America • Mexico Asia • China • South Korea • India • Thailand • Japan • Taiwan Gescrap All companies integrated into the Sideacero Subgroup regardless of the country in which they are located. Each segment includes the activity of the Group's companies located in each of the countries that make up the segment, except for those that make up the Sideacero Subgroup, which are included in the segment called Gescrap. The Group's Management Committee has managed the operating segments corresponding to continuing activities based primarily on the evolution of the main financial magnitudes of each segment, such as Net Turnover, EBITDA, EBIT and investments in fixed assets, while financial income and expenses, as well as the expense for income tax and the allocation of results to minority shareholders are analyzed jointly at the Group level, since their management is basically carried out centrally. Within certain segments, it can be identified that certain countries meet the definition of a significant segment, although they are presented in an aggregated way since the 114
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group of products and services from which ordinary income is derived, as well as the production processes, are similar and additionally show a similar long-term financial performance and are within the same economic environment. The segmented information for fiscal years 2025 and 2024 is as follows: Net turnover 2025 (thousands of euros) Net turnover 2024 (thousands of euros) WESTERN EUROPE 4.042.438 4.219.279 EASTERN EUROPE 1.924.714 1.902.024 MERCOSUR 782.134 927.637 NORTH AMERICA 2.241.421 2.401.876 ASIA 1.823.425 1.976.398 GESCRACP 534.473 573.762 TOTAL 11.348.605 12.000.976 This information is included in note 9 of the Financial Statements. Therefore, the sum of auto business between Western Europe, Eastern Europe, Mercosur, North America and Asia corresponds to a total amount of 10,814,132 thousand euros. Additionally, no other significant sectors of the ESRS have been identified beyond the one mentioned above. This conclusion is based on the analysis of intercompany revenues, the activities carried out by the company, and their connection to the double materiality analysis. The assessment process has been consistent with the approach adopted in identifying and prioritizing issues, risks, and opportunities, ensuring that all relevant sectors have been considered in the materiality assessment. Consequently, there is no additional sectoral information of material relevance to disclose in the context of the ESRS. The Group does not carry out activities related to the fossil fuel sector (coal, oil and gas), the production of chemical products, controversial weapons, the cultivation and production of tobacco or prohibited products and services. ESG Plan 23-25 Following the ESG strategy that the company has been working on for years, during 2023 Gestamp published its ESG Plan 23-25, providing a greater level of detail on the company's strategic priorities in ESG matters for the coming years. The plan consists of 8 strategic areas on which quantitative objectives and initiatives have been established for 2025 that affect all business divisions in all their geographical areas. Each of the areas and objectives of the plan have been designed to minimize the negative impacts of the company in these areas, maximize the positive ones, reduce the probability of risks materializing, and capture any opportunities that may arise. The ESG Plan 23-25 objectives were based on a diagnostic assessment that systematically integrated information from various stakeholders. For example, this 115
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analysis included the decarbonization pathways developed by our suppliers and customers, which were used to define the ambition and pace of Gestamp's decarbonization goals. Incorporating these external perspectives ensured that the established objectives were consistent with the expectations of the stakeholders, aligned with industry trends, and aligned with the transformation required across the entire value chain. The details corresponding to each of these targets are included in the thematic standards of the Report. On the other hand, the quality of parts delivered to clients is monitored by way of internal audits of products, processes and systems, and the use of indicators at all levels of the organisation (plants, regions, divisions and corporations). The incidents that occurred during the year were resolved between the automobile manufacturers and the Group, and they were managed in a favourable manner within optimal time frames established by both parties. This ensured that end users did not face any inconvenience whatsoever and no vehicle in the possession of an end user was recalled for a revision for any reason relating to the products supplied by the Group in 2025. The manner in which said incidents were handled was the key element in resolving them. As such, there was no need to resort to the insurance guarantees that the Group has taken out. Gestamp continuously endeavours to develop lighter vehicles and prioritises weight reduction research. This is one of the most demanded requirements in the automotive industry due to the need to improve fuel efficiency and reduce CO2 emissions. Chassis and bodywork components are essential for achieving emissions targets, as they make up around 70% of total vehicle weight. Furthermore, as part of the electrification trend in the sector, the increased vehicle weight due to batteries has reinforced the importance of lightness. This increased weight has adverse effects, such as reduced electric vehicle range, and until the electricity grid is fully decarbonized, battery consumption will continue to play a significant role in vehicle CO2 emissions during operation. 116
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Therefore, Gestamp provides innovative solutions to deliver the best weight reduction results and meet the industry's most stringent requirements. Extensive experience in hot stamping technology and the development of multi-material solutions have led to several alternatives for achieving lighter vehicles. To account for the environmental impact of, for example, weight reduction, life cycle assessments (LCAs) of products are performed as a strategic element in the design phase. As explained in the Circular Economy chapter, the carbon footprint of the various processes carried out at Gestamp and the materials used in the production phase are some of the main variables analyzed in the study. For example, it has been found that lighter parts and the use of less raw material are two of the factors that most influence the reduction of the carbon footprint. This is due to the high impact of the extraction phase of the materials used, in addition to the vehicle use phase explained earlier. On the other hand, Gestamp works to develop increasingly safer vehicles, focusing on identifying solutions that guarantee greater safety for both vehicle occupants and pedestrians. Gestamp is a pioneer in the manufacture of products using hot stamping, one of the most advanced technologies for improving performance and passenger safety in the event of a collision. Furthermore, high-strength steel products significantly improve a vehicle's ability to withstand impacts. The improved energy absorption of Gestamp's chassis and body components enhances the passive safety of vehicles. In turn, technologies such as hot stamping, where Gestamp is a market leader, allow us to meet the most stringent safety requirements and withstand vehicle-to-vehicle collision tests. Gestamp is developing new hot stamping products, such as extra-large parts, that will enhance safety performance, integrate more functions, and reduce assembly time for our customers. In addition, the mechanisms unit is developing and producing passive safety solutions and achieving good results in improving pedestrian safety thanks to hood hinges. Finally, the technology and innovation office develops key projects in the field of clean technologies and drives the company's decarbonization strategy. 117
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ESG Plan 26-30 Following the completion of the ESG Plan 23-25 on December 31 of this year, Gestamp reaffirms its leadership in sustainability and moves on to a new cycle with the ESG Plan 26-30. During 2025, work was done on defining this new plan, establishing the continuity of the 8 strategic areas of the previous plan, on which objectives and commitments have been defined that affect all business divisions in all their geographical areas. Each target or commitment of the new plan has been carefully structured to mitigate the negative impacts of our activity, enhance the positive effects, decrease the likelihood of relevant risks materializing, and proactively take advantage of the opportunities defined in the double materiality analysis. For the definition of the Plan, an initial diagnosis was carried out with the purpose of identifying the main evaluating the progress achieved since the previous plan, identifying existing gaps and key areas requiring attention, as well as performing a comprehensive analysis of the current needs and expectations of all stakeholders, including employees, customers, suppliers, regulatory bodies, financial community, civil society and opinion formers. The design phase of the new ESG Plan has focused on ensuring strategic continuity and establishing a solid structure for its implementation, maintaining the same pillars as the previous Plan to guarantee coherence. Furthermore, this phase has established that the governance of the new ESG Plan remains identical to that of the previous plan, ensuring consistency in decision-making, the allocation of responsibilities, and the monitoring of each target.11 Finally, a structured continuous monitoring system has been implemented including mechanisms for periodic tracking of performance against established objectives. Throughout the entire plan, quarterly communication will be maintained with each of the working groups to evaluate the degree of progress and detect deviations, and corrective action plans will be defined and implemented if necessary. 118 11The GOV-2 disclosure requirement reflects the governance structure of information related to sustainability.
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Value chain The automotive sector is characterized by increasingly complex supply chains that require robust internal systems and procedures to manage suppliers, subcontractors, and partners comprehensively and responsibly. Through responsible supply chain management, Gestamp contributes to achieving business objectives and customer focus by extending ESG standards to its suppliers of goods and services. As described in BP-1, the value chain has been structured into three distinct segments: upstream (Upstream: suppliers, mainly of raw materials); own operations (Own operations: design, development and manufacture of components for the automotive sector, as well as scrap management carried out by Gescrap) and downstream (Downstream: activities carried out by OEMs and end customers). The manufacture of Gestamp components requires the use of raw materials (steel, non-ferrous metals) and other auxiliary materials (wire, welding gases, oils, etc.). Process efficiency, quality, and product and tooling design are fundamental to optimizing and reducing raw material consumption. Therefore, Gestamp conducts quarterly audits of these processes through various Group management systems controlled by plants, divisions, and the corporate office. These audits consider diverse perspectives beyond the environmental, including Finance, Purchasing, Quality, and the Technical Office, with the ultimate goal of achieving Operational Excellence. A key player in the development of its business is Gescrap, whose activity is metal recycling and comprehensive waste management for industry, and which is a leader in Europe in the management of high-quality scrap metal. In this way, Gestamp seeks to develop the circularity of its business model, promoting the use of its scrap metal as a secondary raw material in the production of low-emission steel, reducing the extraction of raw materials for steel and aluminum production, and promoting the optimization of waste management. Gestamp's products are sold to the final car manufacturer, who assembles and sells the vehicles to the end user, or to intermediate suppliers (Tier 1) who will assemble the parts for the car manufacturer. 119
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SBM-2: Interests and opinions of stakeholders Gestamp seeks to create long-term value among its stakeholders by paying special attention to its interaction with society and the environment, seeking to generate links and prioritizing the development of direct channels of dialogue and communication to foster a collaborative space where the transmission of concerns is possible. Stakeholder groups Communication Channels12 Employees Corporate intranet, internal newsletters, internal surveys, suggestion boxes, whistleblowing channel, performance evaluation tool, direct contact with HR at work centers, social media. Clients1 Customer platforms, regular meetings and audits, co-designs, customer events and industry events, daily operational contact at each production plant Suppliers Digital platform for suppliers, contractual specifications, special collaborations, recurring meetings, direct local contact. Regulatory Bodies Events of national, international and sectoral associations. Financial community Conferences, Roadshows, Site Visits, meetings, ad-hoc calls, Capital Markets Day, questionnaires and participation in ESG ratings, Quarterly Financial Results Reports and Conference Calls Civil society and opinion makers Press releases and social media, participation in forums, talks and industry events, social action and volunteering 1 Through customers, Gestamp obtains insights from end users. In the context of the IRO assessment of the double materiality analysis, Gestamp involved its main stakeholders (own workforce, workers across the value chain, etc.). To this end, it used various methods such as surveys, market research, trend reports, ratings analysis, and analysts. The results obtained from the various stakeholder engagement methods were integrated into the double materiality analysis to ensure that the findings accurately 120 12In addition to these specific channels, Gestamp has its corporate website: www.gestamp.com
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reflected both stakeholder expectations and the actual and potential impacts on the company. To achieve this, each stakeholder group was assigned a specific percentage within the final weighting of the impact and financial materiality scales, based on their level of influence, knowledge, and relationship with our activities. These weightings were applied consistently throughout the assessment processes, resulting in a final materiality scale that is balanced, transparent, and aligned with the most relevant priorities for the organization and key stakeholders. For more information on the double materiality methodology, see Disclosure Requirement IRO-1. Following consultations and considering market changes in electric vehicle production forecasts, no issues have been identified that would necessitate an urgent modification of the company's sustainability strategy. Nevertheless, Gestamp conducts an annual review of its double materiality analysis to ensure its strategy remains aligned with the most up-to-date findings. The 2025 review included adjustments to the wording of several Individual Report Items (IROs), as well as the removal and addition of others. These changes reflect the updated sustainability strategy resulting from the completion of the 2023–2025 Plan and have been incorporated into the process of defining the new 2026–2030 ESG Plan, which has allowed for a refinement and consolidation of the material issues structure. However, no previously identified issue has ceased to be material. This ESG strategy, which is integrated into the company's business strategy, establishes targets and commitments that seek to protect the rights of the Group's employees, workers in the value chain, and communities.13 Chapters GOV-1 and GOV-2 detail the processes for informing management bodies about sustainability issues, including the double materiality analysis which takes into account the opinions and interests of stakeholders. Throughout the Sustainability Report, more detailed and specific information is provided on communication channels and the results obtained. SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model In 2023, Gestamp conducted a double materiality analysis focused solely on the company's core business. The 2024 double materiality analysis incorporated information on the Group's value chain, both upstream and downstream, updating the analysis and yielding broader results. In 2025, the double materiality analysis was comprehensively reviewed to verify its consistency and reasonableness. The results showed no significant changes compared to the previous year. This review involved the removal of two positive impacts which, after further analysis, were identified as being linked to measures to mitigate negative impacts and therefore did not represent positive contributions. The impact related to the publication of the Code of Conduct was also removed, given that it was published in 2025. 121 13There have been no significant changes to Gestamp's strategy or business model during the year. Therefore, this does not affect future planned steps.
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Additionally, fourteen IROs were re-expressed to improve their conceptual clarity, and the association of three IROs to subtopics was modified. Therefore, following the review of the analysis, a total of 75 IROs were identified, broken down into 23 impacts, 32 risks, and 20 opportunities. This update has not resulted in any changes to the reporting of disclosure requirements, as there has been no modification to the materiality of the topics or subtopics analyzed. The appendix "Important Impacts, Risks, and Opportunities Identified During the Year " details the significant impacts, risks, and opportunities identified and assessed in 2025. This section describes how these impacts affect people or the environment. The "Value Chain" column indicates the segment of the value chain in which the incident occurs (business relationships) or is due to the company's core business. All impacts are related to the development of the company's strategy and business model, except for those specific to the "Social Action" entity. Furthermore, the reasonably foreseeable time horizons of potential impacts are included (current impacts are considered to be ongoing), as well as the foreseeable short-, medium-, and long-term financial effects. The results of the double materiality analysis, along with new sustainability directive requirements such as the Corporate Sustainability Due Diligence Directive (CSDDD), are being evaluated and taken into consideration to develop processes for managing impacts, risks, and opportunities throughout the Group's entire value chain. In this regard, the double materiality analysis has been the tool that has allowed for a qualitative assessment of the company's resilience to the potential materialization of negative impacts and/or risks, as well as fostering the necessary mechanisms for developing positive impacts and/or opportunities. 122
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The specific actions to mitigate risks and achieve opportunities, aligned with the double materiality analysis and developed during 2025, are described in the different thematic chapters of the State of Sustainability: • E1: Climate Change • E2: Pollution • E3: Water and marine resources • E4: Biodiversity and ecosystems • E5: Resource use and circular economy • S1: Own Workforce • S2: Value chain workers • S3: Affected Communities • S4: Consumers and end users • G1: Business Conduct The results of these actions, aligned with the sustainability strategy, are considerable. As a result, the perception of the various ESG ratings has continued to improve. 1. Lower score, lower risk, better outcome. 2 This assessment refers to the climate change questionnaire. Regarding the water questionnaire, Gestamp received an A-. Furthermore, these ratings allow us to understand the demands and needs of our stakeholders, specifically investors, and are a two-way communication method as detailed in SBM-2 and subsequent chapters. 123
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IRO-1: Description of the process to identify and assess material impacts, risks, and opportunities. Sustainability has been one of Gestamp's strategic pillars since its inception. At Gestamp, sustainability aims to create long-term value to strengthen its growth strategy and create a competitive advantage for all stakeholders by promoting environmental, social, and governance (ESG) criteria in all its operations, thus reinforcing its position as a leader in the sector. In 2024, Gestamp conducted a Double Materiality analysis, aligning its methodology with the Corporate Sustainability Reporting Directive (CSRD) and the EFRAG Standards for Reporting (ESRS). This analysis was reviewed in 2025 to ensure continued progress based on our identified issues, risks, and opportunities. The main objective of this analysis is to identify and evaluate the main positive and negative impacts of the company on the environment and society (impact materiality) and the risks and opportunities that may affect the company (financial materiality). For the double materiality analysis, Gestamp takes into consideration the time horizons defined in ESRS 1 (short term: current to 1 year; medium term: 1 to 5 years; long term: more than 5 years) except for climate risks, which uses the following time horizons: • Short term: current situation to 2030 • Medium term: 2031 to 2050 • Long term: 2051 to 2100 In this way, different financial effects are obtained for risks and opportunities derived from the analysis of the company's resilience to the events identified in the short (ST), medium (MT) and long (LT) term. The methodology used by the Group for the determination and evaluation of impacts, risks and opportunities of relative importance related to: climate change, pollution, water and marine resources, biodiversity and ecosystems, resource use and circular economy, own workforce, workers in the value chain, affected groups, end users and customers and business conduct is described below. Thanks to an analysis of different sources of information, the Impacts, Risks and Opportunities (IROs) of the Group have been identified and assessed qualitatively and quantitatively throughout its entire value chain. The Double Materiality analysis follows a methodology that identifies the impacts the company has on the environment and society in the course of its business activities (inside-out perspective) and the main risks and opportunities this interaction may pose for the company (outside-in perspective). In this way, Gestamp can identify the key areas where it should focus its efforts and on which to develop its strategy and management model. The double materiality analysis process is conducted at the Group level, taking into account all the company's geographic locations and all links in the Group's value chain, 124
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integrating its core business and its upstream and downstream commercial relationships (value chain). Furthermore, analyses are performed on locations with significant activities to identify the relevance of impacts where deemed necessary. This process has been carried out in collaboration with an expert sustainability service provider, which contributes, among other things, objectivity to the exercise. The analysis was carried out in 3 phases: • Phase 1 - Context analysis and understanding of Gestamp's value chain. • Phase 2 - Preliminary identification of impacts, risks and opportunities. • Phase 3 - Evaluation and weighting of material IROs. The Group is aware of the high degree of subjectivity that this analysis may entail, so the decision was made to carry it out with an independent sustainability service provider who has brought to the analysis the objectivity that it requires. Phase 1 - Context analysis and understanding of Gestamp's value chain To identify and gain an understanding of the Group's own operations and its value chain, a context analysis has been carried out, considering both internal and external sources: Internal sources: • Previous materiality analysis. • Previous Gestamp Annual Reports. • Group corporate risk map. • Climate Change Risk and Opportunity Analysis. • Workshops with relevant areas and agents of the value chain. • Other information identified as relevant by sites and topics (Appendix A, AR 16 of ESRS 1), if available. External sources: • Trend reports. • Sustainability influencer reports. • Public information about competitors and customers. • Customer (OEM) requirements regarding sustainability. • Standards/recommendations: SASB, GRI, TCFD, WEF, EFRAG, etc. • ESG Analysts: MSCI, S&P, Sustainalytics, Ecovadis, FTSE, etc. • Regulations and recommendations from regulatory bodies: European Green Taxonomy, CNMV, etc. 125
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Phase 2 - Preliminary identification of impacts, risks and opportunities Based on the sustainability themes, sub-themes, and sub-sub-themes described in AR 16 of Appendix A of ESRS 1, and having understood both the context and the entirety of the Group's value chain, a preliminary analysis has been conducted of all the impacts, risks, and opportunities to which the company could be exposed due to its activity, type of business, value chain, and the various stakeholders involved. Furthermore, this in-depth understanding has served to identify material issues for the company that are not currently covered by regulations, such as Social Action. After identifying all the IROs to which the company may be exposed, meetings and workshops are held with the company's departments that interact with the various stakeholders of the group's value chain. This initial filtering step reduces the scope of the IRO assessment and prioritisation process. Phase 3 - Assessment and prioritization of impacts, risks and opportunities For the evaluation of the IROs, the Group's main stakeholders participated, being consulted to determine the relevance of the topics, subtopics, and sub-subtopics. In addition, Gestamp's main departments evaluated each IRO individually to obtain a more accurate picture for prioritization. This process provided their perspective on the management of the various sustainability topics and validated the different IROs identified for each topic. This assessment was carried out in the short, medium, and long term, according to the ESRS 1 definitions: less than 1 year, 1 to 5 years, and more than 5 years, respectively. However, it was considered that, for a proper assessment of climate risks and to be able to use the market reference scenarios, these scenarios should be extended further (short term: present to 2030; medium term: 2031 to 2050; and long term: 2051 to 2100). Therefore, the assessment of IROs has always followed the guidelines established by the various applicable ESRS standards. Furthermore, in the case of risk and opportunity assessment, this methodology has been aligned with that used by the risk department, enabling the integration of the results into the corporate risk map. These assessments integrate the scale, scope, probability, and irremediability. Each variable is analyzed separately, achieving a quantification of them: • Scale: Scale is obtained by aggregating information from surveys sent to various stakeholder groups, competitor analysis, customer (OEM) information, and ESG analysts, among other sources. The scale refers to the potential financial impact of the risk or opportunity. • Scope: Scope is classified into 3 categories: Global, Medium, and Limited. It is evaluated by identifying how extensive the impact can be in terms of geographic area and communities affected. • Probability: Probability is determined thanks to an independent analysis of the company's maturity in the various ESG themes, the sector and market expectations in the short, medium and long term. 126
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• Irremediability: Irremediability is defined as the capacity of an action to remedy a negative incident based on the planned time horizons and the effort required by the company. The methodology of the corporate risk department was followed, which requires first defining whether the risk or opportunity is strategic, compliance-related, operational, or reputational. Once categorized, an economic evaluation is performed based on internal parameters defined for this purpose. The Company has intrinsically considered dependencies primarily in the identification phase, as can be seen in the definition of the reported risks and opportunities. The scale and probability of risks and opportunities are assessed based on the three time horizons defined by EFRAG in its ESRS 1. This allows the company to obtain, if it so chooses, an assessment of the potential economic impact these risks and opportunities could have on the company. This scale is defined as the potential effect that this risk or opportunity would have on EBITDA should it materialize. The probability is obtained through independent analysis of the Company's maturity in the various ESG themes, the sector, and market expectations in the short, medium, and long term. Impacts are evaluated differently depending on whether they are positive or negative and real or potential: • Current positive incidence = Scale + Scope. • Potential positive impact = (Scale + Scope) x Probability.14 • Current negative incidence = Scale + Scope + Irremediability. • Potential negative impact = (Scale + Scope + Irremediability) x Probability. The Group assesses its risks and opportunities as follows for each time horizon: • Risk relevance = (Scale + Economic valuation) x Probability. • Relevance opportunity = (Scale + Economic valuation) x Probability. Once the results of the assessment were obtained, the thresholds that determine the limit from which an incident, risk or opportunity (IRO) is considered material have been defined through a comprehensive analysis and independently for financial and impact materiality. In the case of impact materiality, the thresholds were established based on the assessment, aggregation, and average of all identified impacts (quantitative valuation). On the other hand, for financial materiality, these thresholds were determined considering all assessed risks and opportunities. Similarly, to incorporate the qualitative variable into the threshold stipulation, an analysis is conducted of those IROs with lower scores that, despite this, should be considered material given their relevance to the company, thus establishing a 127 14In the case of a potential impact on human rights, the potential is suppressed, so that it resembles an actual impact, thus giving precedence to severity over probability.
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minimum threshold. Following this process, and after obtaining a value, a weighting factor is applied, reducing the resulting value to the aforementioned minimum. Once an incident, risk, or opportunity (IRO) reaches the established threshold, whether from an impact materiality or financial materiality perspective, it is classified as material. Consequently, the issue, sub-issue, or sub-sub-issue related to that IRO is also considered material. Finally, the result of this analysis is compared with the corporate risk map to ensure that both results are aligned. This approach ensures that the identification and assessment of materiality is carried out rigorously and in alignment with the criteria defined in Section 3.2 of ESRS 1. Based on the results obtained, the company evaluates potential actions to be taken. The ESG Department, supported by the Group's main departments, prioritizes those risks and opportunities with the greatest potential financial impact and the highest probability of occurring. In this way, it determines the necessary controls and management actions to mitigate the negative effects of the risks and capitalize on the opportunities that may arise. In this way they are shared with the ESG Committee where they are discussed, refined and approved, and subsequently monitored by the Sustainability Commission. For more details on the process of control, decision-making, determination, evaluation and management of IROS, see chapters " GOV-1" and " GOV-2" of this Sustainability Statement. See the reference tables in the annexes: "List of data points included in cross-cutting and thematic standards derived from other EU legislation" and "Content index according to Commission Delegated Regulation (EU) 2023/2772 of 31 July 2023 supplementing Directive 2013/34/EU of the European Parliament and of the Council with regard to Sustainability Reporting Standards (CSRD)." 128
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Specific considerations CLIMATE CHANGE Gestamp has determined, assessed and described the climate-related impacts, risks and opportunities in its double materiality analysis process. Committed to climate neutrality, the organization has developed a detailed decarbonization roadmap, with interim targets for Scopes 1 and 2 in 2025 and 2030. The level of achievement for Scope 1 and 2 tCO2 emission reductions in 2025 was 48%. Regarding Scope 3, the company is aware of the challenge of establishing emission reduction initiatives for emissions outside its direct control. Nevertheless, the company continues to strengthen its measures focused on reducing these emissions in 2025, as described in section E1-4. On the other hand, Gestamp has been monitoring its carbon footprint quarterly since 2006, assessing GHG emissions in scopes 1, 2, and 3, with scope 3 encompassing the largest concentration of emissions (96.4%). For more information, see chapter " E1" and the appendix " Important Impacts, Risks, and Opportunities Identified During the Year." CLIMATE-RELATED PHYSICAL AND TRANSITIONAL RISKS Climate scenario analysis, including those from the IPCC and IEA, is used to inform the identification and assessment of physical and transition risks, as well as short-, medium-, and long-term opportunities. The most advanced regional climate models from the IPCC have been used, based on specific geospatial coordinates. The NZE scenario represents one possible path toward net-zero emissions, highlighting multiple uncertainties that could affect the different pathways. In 2023, the company conducted a climate risk analysis that considered the IPCC's SSP2-4.5 climate scenario for climate-related risks and the Net Zero scenario for climate transition risks and climate opportunities. This analysis was strengthened in 2024 with the use of an IPCC stressed scenario (SSP5-8.5) in response to new CSRD requirements. Determination and Evaluation of Physical Risks As previously mentioned, Gestamp updated its physical climate risk analysis in 2024, taking into account high-emission scenarios (IPCC SSP5-8.5). The company identified climate hazards according to Appendix A of Delegated Regulation 2021/2139 of the European Taxonomy and assessed how its assets and activities are exposed to and sensitive to these hazards. The assessment covers the short term (until 2030), medium term (until 2050), and long term (until 2100), considering the expected probability, magnitude, and duration of hazards, as well as the specific geospatial coordinates of the company's locations and supply chains. This method assesses how business assets and activities may be exposed to and sensitive to climate hazards, based on high-emission scenarios. This assessment uses geospatial coordinates specific to the company's locations. 129
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Determination and Evaluation of Transition Risks In 2024, Gestamp assessed the climate transition risks and opportunities toward a low- carbon economy, using the IEA's "Net Zero Emissions by 2050" scenario to determine how its activities are exposed to these risks and opportunities. Climate transition events are considered, taking into account scenarios consistent with limiting global warming to 1.5°C with zero or limited exceedance. This assessment analyzes the sensitivity of business assets and activities to transition events identified by the TCFD, considering probability, magnitude, duration, adaptive capacity, and climate vulnerability. This assessment is based on the analysis of climate scenarios consistent with the Paris Agreement. Key forces and factors include: • The pressure to replace high-emission technologies with clean technologies. • Global economic growth projections. • Strict climate legislation. • Changes in consumer preferences towards sustainable products and services. • Stigmatization of the sector due to its environmental impacts. The scenarios used allow for broad coverage of potential risks and plausible uncertainties for the company. The company has not identified any assets or business activities that are incompatible with a transition to a climate-neutral economy or that would require significant efforts to be compatible with it. The company will assess how the IPCC and IEA climate scenarios are compatible with the underlying climate assumptions used in the financial statements. This will ensure consistency between strategic planning based on climate scenario analyses and the reported financial information. Additionally, the financial statements (Note 33.2) refer to Gestamp's decarbonization targets and information related to climate change. 130
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E2 POLLUTION, E3 WATER AND MARINE RESOURCES AND E5 RESOURCE USE AND CIRCULAR ECONOMY Gestamp has conducted a comprehensive analysis of its business activities across its entire value chain and all its significant locations as part of its double materiality process. This analysis has been fundamental in identifying and assessing both the direct and indirect environmental impacts of its operations, as well as the associated risks and opportunities. The scope of this analysis includes Gescrap's operations due to their high relevance to Gestamp Group's circular economy strategy as a company specializing in metal recycling. The double materiality process has not only focused on the internal aspects of its activities but has also incorporated the views and concerns of key stakeholders. Consultations and dialogues have been conducted with a wide range of stakeholders, including employees, customers, suppliers, local communities, and non-governmental organizations. These interactions have allowed us to better understand their expectations and concerns regarding pollution and other environmental issues. Furthermore, this approach reinforces Gestamp's commitment to sustainability, ensuring that its strategy and actions not only comply with regulatory standards but also meet societal expectations. Additionally, Gestamp has conducted a water stress analysis of its plants, particularly those using the hydroforming process, even with water recirculation. This information has been cross-referenced with the water consumption data from its own operations, and the activities of the Group's business partners have been analyzed to determine the impacts, risks, and opportunities identified in section "E3. Water and Marine Resources." Gestamp does not use raw materials derived from marine resources. 131
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E4. BIODIVERSITY AND ECOSYSTEMS In 2024, the Group conducted a double materiality analysis aligned with the EFRAG recommendations included in the “Materiality Assessment Implementation Guide.” This process encompassed the identification of impacts, dependencies, risks, and opportunities related to biodiversity. To identify impacts, the main drivers and pressures associated with biodiversity loss were considered (land-use change, overexploitation, pollution, invasive alien species, among others), while for risks, physical, transitional, and systemic risks were taken into account. Subsequently, as part of the analysis, key stakeholder groups were identified and selected, and surveys were conducted with them focusing on issues related to the identified impacts, risks, and opportunities. The results indicated that, due to the nature of Gestamp's direct operations, no material impacts on biodiversity and ecosystem services were generated, nor were any material dependencies, risks, or opportunities identified. These conclusions were verified through specific biodiversity analyses that took into account the location of the Group's production centers. Gestamp's sites are located in urban and industrial areas, some of which are close to biodiversity hotspots. The geolocation analysis consisted of assessing the proximity of the facilities to protected areas, based on the protected area catalogs of the Natura 2000 Network, IUCN, Emerald Network, and USA Wetlands. This study revealed that 39% of the Group's plants are located in areas close to (<3 km) or adjacent to protected areas. As part of our commitment to sustainability, a comprehensive study on the location of our plants in relation to protected natural areas was carried out last year. This year, we have expanded this analysis to include an assessment of dependencies and impacts on biodiversity, establishing an impact scale and identifying those facilities with the greatest potential influence. The results show that, while there are differences between plants, the overall impact on biodiversity is low, thanks to both the location of our facilities and the characteristics of our industrial activity. For more information see chapter SBM-3. 132
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The double materiality analysis did not focus solely on direct operations but also considered the rest of the value chain. A significant upstream material impact was identified, particularly in the raw materials extraction industry. These activities contribute to the degradation of local ecosystems and represent one of the main pressures for biodiversity loss. To date, no evidence has been found that these activities directly affect local communities due to the impact on biodiversity in our supply chain. However, as a demonstration of our compliance with new European directives such as the Corporate Sustainability Due Diligence Directive (CSDDD), appropriate monitoring and increased controls will be implemented in this area. IRO-2: Disclosure requirements set out in the ESRS covered by the company's sustainability status. The disclosure requirements met in preparing the sustainability statement, as a result of the materiality assessment, are listed in the Table of Contents according to Commission Delegated Regulation (EU) 2023/2772 of 31 July 2023, supplementing Directive 2013/34/EU of the European Parliament and of the Council with regard to reporting standards. This table of contents includes the page numbers or sections where the relevant information is found in the sustainability statement. In addition, the annexes include the Table of Contents of Law 11/2018, which indicates all the requirements that are met in the aforementioned regulation. Following its double materiality analysis, the methodology of which is described in chapter "IRO-1," the company has determined that climate change is a relatively important issue and therefore reports information on various ESRS E1 disclosure requirements. The remaining standards have also been identified as material and are reported according to the segment of the value chain in which the IROs were detected. 133
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Theme Chapter CV segment Environment E1: Climate Change - Upstream - Own operations - Downstream E2: Pollution - Upstream - Downstream E3: Water and marine resources - Upstream E4: Biodiversity and ecosystems - Upstream E5: Resource use and circular economy - Upstream - Own operations - Downstream Social S1: Own Workforce - Upstream - Own activity S2: Value chain workers Upstream S3: Affected Communities - Upstream - Own activity S4: Consumers and end users - Own operations - Downstream Government G1: Business Conduct - Upstream - Own operations - Downstream MDR-P: Policies adopted to manage sustainability issues of relative importance The specific policies adopted to manage the sustainability issues of relative importance are described in the different thematic chapters of the State of Sustainability: • E1: Climate Change • E2: Pollution • E3: Water and marine resources • E4: Biodiversity and ecosystems • E5: Resource use and circular economy • S1: Own staff • S2: Value chain workers • S3: Affected Communities • S4: Consumers and end users • G1: Business Conduct The descriptive details of each of these policies specify their scope of application. 134
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MDR-A: Actions and resources in relation to sustainability issues of relative importance The key actions through which the Group manages each sustainability issue of relative importance to prevent, mitigate and remedy actual and potential impacts, and to address risks are described in the different thematic chapters of the Sustainability Report, including a detailed description of each one: • E1: Climate Change • E2: Pollution • E3: Water and marine resources • E4: Biodiversity and ecosystems • E5: Resource use and circular economy • S1: Own Workforce • S2: Value chain workers • S3: Affected Communities • S4: Consumers and end users • G1: Business Conduct MDR-T: Monitoring the effectiveness of policies and actions through goals With the aim of evaluating the effectiveness of the measures established to manage material impacts, risks, and opportunities, the Group concludes the ESG 23-25 Plan on December 31 and reaffirms its leadership with the presentation of the new ESG 26-30 Plan. The description of both plans and the goal-setting process is detailed in the document in section SBM-1, including the role of stakeholders in setting these goals. Additionally, each chapter of the Sustainability Report details the progress made toward each of these goals, their connection to company policies, the value chain segments and scope affected, the baseline values, and the target implementation period, including any intermediate milestones. Specifically, E1-1 includes the relevant specifications regarding the decarbonization plan. 135
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2. ENVIRONMENTAL INFORMATION Disclosure of information under Article 8 of Regulation (EU) 2020/852: Taxonomy of the European Union Context In order to be able to fulfil the climate and energy objectives proposed by the European Union for 2030, and in turn, to achieve the Neutrality objective of the European Green Deal by 2050, it is essential that investments are directed towards sustainable projects and activities. Thus, the economy, companies and society in general will become more resilient to the current and future consequences for the climate and the environment. A common language is therefore required in addition to a clear definition of what sustainable is. To this end, and in order to address this challenge, the European Commission published a classification system called EU Taxonomy (Regulation (EU) 2020/852), the aim of which is the decarbonisation of the economy by defining what it considers to be environmentally sustainable economic activities. This regulation is based on 6 environmental objectives: • Climate change mitigation • Transition to a circular economy • Adaptation to climate change • Pollution Prevention and Control • Sustainable use and protection of water and marine resources • Protection and restoration of biodiversity and ecosystems Regulatory developments Three delegated acts have been published supplementing Regulation (EU) 2020/852: • On 4 June 2021 the Climate Change Mitigation and Adaptation to Climate Change objectives were published in Delegated Regulation 2021/2139. This delegated act on climate taxonomy establishes the technical screening criteria for determining whether an economic activity qualifies as contributing substantially to climate change mitigation or adaptation and for determining whether this causes no significant harm to any of the other environmental objectives. • On 6 July 2021 Delegated Regulation 2021/2178 was published, which in article 8 in particular specifies the content and presentation of information to be disclosed by companies subject to the NFRD (Non-Financial Reporting Directive). • Lastly, on 9 March 2022 Delegated Regulation (EU) 2022/1214 was published which amends the previous Delegated Regulations and includes, subject to strict conditions, relevant nuclear and gas related activities in the list of economic activities covered by EU taxonomy. 136
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• On 27 June 2023, the following were published: o Delegated Regulation (EU) 2023/2486, which supplements Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing technical screening criteria for determining under which conditions an economic activity is considered to contribute substantially to the remaining taxonomy objectives and for determining whether that economic activity causes no significant harm to any of the other environmental objectives, and amending Delegated Regulation (EU) 2021/2178. o Delegated Regulation (EU) 2023/2485, which amends Delegated Regulation (EU) 2021/2139 by establishing additional technical screening criteria for determining the conditions under which an economic activity is considered to contribute substantially to climate change mitigation or adaptation, and for determining whether that economic activity causes no significant harm to any of the other environmental objectives. According to Article 8 of the Regulation, in 2023 companies must report: • Eligibility and alignment according to Delegated Regulation 2021/2139 for Climate Change Mitigation and Adaptation to Climate Change objectives. • Eligibility of new activities included in the Environmental Delegated Regulation and the amendment to the Climate Delegated Regulation. The regulation establishes a series of economic activities (eligible activities). For an activity to be considered aligned, it must substantially contribute to one of the environmental objectives, not cause significant harm to any of the remaining environmental objectives and comply with minimum social safeguards. Additionally, the most relevant information regarding compliance with the regulation, accounting policy, and qualitative information that allows contextualising the results obtained and facilitating the understanding of the KPIs must be included. In accordance with regulatory developments and with the aim of reducing administrative overheads by maintaining the integrity of the regulatory framework, the European Commission has issued amendments, published in the Official Journal of the EU in January 2026, for a substantial simplification of the Taxonomy reporting tables that companies must start to apply in 2025, with the option of postponement to 2026. A materiality threshold of 10% has been included to enable simplified reporting of activities with less weight in revenue , CapEx or OpEx, making it possible to omit the Opex table when it is not important. These changes seek to maintain the solidity of the regulatory framework and reduce the administrative burden on companies at the same time. Gestamp has decided to adopt this simplification for 2025. 137
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REPORTING SCOPE The scope of the analysis has included all of Gestamp Group's operational plants included in the perimeter of this non-financial information report (see chapter "General basis for the preparation of the sustainability statement"). Assessment of the compliance of Gestamp Gestamp, in an exercise of transparency and in compliance with new regulatory requirements, carried out an evaluation of the eligibility of its activity based on the criteria defined in the "European green taxonomy" during 2021. In this initial exercise, Gestamp positioned itself as eligible according to what is defined in activity 3.3. Manufacture of low-carbon technologies for transport, as it is an essential part of the manufacture of vehicles indicated in the technical selection criteria of said activity. However, automotive components are not explicitly mentioned in this description. Due to the uncertainty surrounding the application of the regulatory framework and after having carried out the exercise internally, on 2 February 2022 the European Commission published a Q&A where it specified that the activity of companies supplying automotive components was ineligible according to activity 3.3. Manufacture of low-carbon-technology vehicles for transport as described in the Taxonomy. Thus, Gestamp finally concluded that it did not have any activities associated with those deemed eligible from the point of view of the Regulation. In 2022 Gestamp again carried out the exercise of eligibility of its activities while considering the following factors: • The FAQ of the EU in December 2022 which, in general terms, states that for activities 3.1-3.6 the components may be taken into account if they are covered by the screening criteria. • Component manufacturers are one of the main elements in the transition to sustainable mobility, as 70% of a vehicle’s value, 90% of production costs and 58% of the investments in sustainable mobility come from suppliers of automotive components, according to CLEPA data. • The public positioning as regards the Taxonomy of other companies in the industry and industry associations such as CLEPA (European Association of Automotive Suppliers) with its #FairTaxonomy movement. • The recognition that would be brought about by the eligibility of Gestamp activities regarding investors. Finally, during 2023, the European Commission published in the Official Journal of the European Union the Commission Delegated Regulation (EU) 2023/2485 of 27 June 2023, which amends Delegated Regulation (EU) 2021/2139 by establishing additional technical screening criteria for determining the conditions under which an economic activity is considered to contribute substantially to climate change mitigation or adaptation, and for determining whether that economic activity causes no significant harm to any of the other environmental objectives. Gestamp has carried out an analysis of the activities included in this modification. 138
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Additionally, Gestamp considers that the taxonomic analysis exercise should be constant, so it has continued to review its activity and the different updates of the regulations, Q&As, and reporting of companies with similar activities. This means that in 2024, new activities were identified linked to the Group’s decarbonisation strategy, especially those related to energy efficiency. Gescrap was also incorporated into the taxonomy analysis, which made it possible to obtain a more complete and representative view of the Group’s overall activities. This year, the analysis not only dealt with the activities to mitigate and adapt to climate change, but also those associated with the other environmental goals, such as the circular economy. The work to identify possible activities in greater depth continues. This process has evaluated the inclusion of activities 7.2 Renovation of existing buildings and 7.6 Acquisition and ownership of buildings, estimating that together they represent around 6-7% of the Group’s total CapEx. ELIGIBLE ACTIVITIES Finally, after the eligibility analysis was carried out, it has been determined that the activities that fit the description established by the Taxonomy correspond mainly to the objective of climate change mitigation. Nevertheless, some of them can also be framed within the goal of circular economy, as in the case of Gescrap, although the description is more closely aligned with the mitigation criteria. The Gestamp activities that satisfy these requirements are: 3.4 Manufacture of batteries, cells and accumulators, 3.18 Manufacture of automotive and mobility components, 5.5 Collection and transport of non-hazardous waste in fractions segregated at source. Likewise, the analysis of the activities reported in the previous year (7.3, 7.5, 8.2) has been maintained and two new ones have been incorporated into the study (7.2 and 7.5) despite not being reported in the end, as mentioned in the following sections; 7.2. Renovation of existing buildings, 7.3. Installation, maintenance and repair of energy efficiency equipment, 7.5. Installation, maintenance and repair of instruments and devices for measuring, regulating and controlling energy performance of buildings, 7.6. Acquisition and ownership of buildings, 8.2. Data-driven solutions for GHG emissions reductions. 3.4 Manufacturing of batteries, cells and accumulators This activity includes in its description the manufacture of rechargeable batteries, cells and accumulators for transport, stationary and off-grid energy storage and other industrial applications. It also incorporates the manufacture of corresponding components (active materials for batteries, cells and accumulators, battery cells, casings and electronic components). In this sense, Gestamp fits this last description thanks to the battery box manufacturing activity, which is carried out in the Group due to the company's commitment to electrification. 139
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3.18 Manufacturing of automotive and mobility components Described by the regulation as the manufacture, repair, maintenance, renovation, conversion and modernisation of mobility components for zero-emission personal mobility devices and of type-approved automotive and mobility components, systems, separate technical units, parts and spare parts, designed and manufactured for exclusive use in vehicles and buses that meet the criteria set out in this section and that are essential to provide and improve the environmental performance of the vehicle. Taking this description into consideration, Gestamp includes in this activity the amount of Door Rings manufactured through hot stamping, which reduces the weight of the part and the final vehicle (improving the efficiency of the vehicle in terms of energy consumption). 5.5 Collection and transport of non-hazardous waste in source segregated fractions This activity corresponds by definition to the separate collection and transport of non- hazardous waste in individual or mixed fractions with a view to preparing it for reuse or recycling. In this sense, through the incorporation of Gescrap into the Gestamp group, all the activity corresponding to waste management carried out by Gescrap in its facilities is included. 7.3 Installation, maintenance and repair of energy efficiency equipment This activity corresponds to individual renovation measures consisting of the installation, maintenance or repair of energy-efficient equipment. From this perspective, Gestamp has identified energy efficiency measures related to the installation of new, more energy-efficient lighting, such as LEDs. Additionally, this activity has included the installation of measures that allow for lower energy consumption in the conditioning of the plants. 7.5 Installation, maintenance and repair of instruments and devices to measure, regulate and control the energy efficiency of buildings The activity is related to the installation, maintenance and repair of instruments and devices to measure, regulate and control the energy efficiency of buildings. The measures identified by Gestamp in this regard are mainly the automation of lighting control systems. 8.2 Data-driven solutions to reduce greenhouse gas emissions This activity refers to the development or use of technological solutions to collect, transmit and store data, as well as to analyse and use it, with the main objective of reducing greenhouse gas (GHG) emissions. These solutions can include decentralised technologies, the Internet of Things (IoT), 5G and artificial intelligence. Through its energy efficiency department, Gestamp is implementing consumption meters in its plants that collect and analyse data using a system called CO2Tem. 140
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New activities analyzed in 2025 7.2. Renovation of existing buildings This activity refers to renovation projects for existing buildings. In this sense, Gestamp will include all investments and costs associated with the renovation, refurbishment and rehabilitation of properties, including structural works as well as the expansion of production plants and the installation of new machinery in the building and other functional adjustments necessary for operations. 7.6. Acquisition and ownership of buildings This activity covers the acquisition and ownership of buildings destined for the company’s use or for lease, including both new and existing assets. In this sense, Gestamp will include all investment and costs related to the purchase and construction of plants, whether as greenfield or brownfield developments, and the ownership and extension of buildings, including the property assets acquired through processes of expansion or integration. An analysis of the list of projects and assets that could be included in these activities revealed that it would be very complicated, and ultimately impossible, to obtain the associated CapEx figures with the traceability that is required. Work will continue in the coming years to improve their identification and integration in the Taxonomy report. Evaluation of compliance with technical screening criteria For this exercise, a new study has been conducted on the activities of the Group under the definition of the Taxonomy and the financial figures of net revenue, CapEx and OpEx have subsequently been calculated for these activities. To this end, the technical screening criteria provided for in Delegated Regulation 2021/2139 of 4 July 2021, supplementing Regulation (EU) 2020/852, have been considered for the mitigation and adaptation environmental objectives and Delegated Regulation 2023/2485 of 27 June 2023, have been considered. Also, because the activities related to energy efficiency measures (7.3, 7.5 and 8.2) r e p r e s e n t a v e r y s m a l l p a r t o f t h e C a p E x ( € 1 . 1 4 M , w h i c h i s 0 . 1 3 % o f t h e t o t a l C a p E x ) and as we are applying the new simplified regulations, it was decided not to include them in this year’s report. Even so, work on their analysis will continue for inclusion in future reports. 141
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TECHNICAL SCREENING CRITERIA: SUBSTANTIAL CONTRIBUTION TO CLIMATE CHANGE MITIGATION 3.4. Manufacture of batteries, cells and accumulators Eligible according to the definition of the activity contemplated in the Climate RD. In 2022, electric vehicles allowed a net reduction of around 80 Mt of GHG emissions. As the fleet of electric vehicles continues to grow, the reduction in emissions will be even more significant, playing a key role in achieving the objectives set in the Paris Agreement. Therefore, fundamental parts for the proper functioning of this type of vehicle such as batteries and, consequently, battery boxes, are essential. Following this rationale and based on the comparison of the analysis of CO2eq/Km and total CO2eq emissions throughout the life cycle of a conventional vehicle versus an electric one, we consider that battery boxes are essential for the substantial reduction of emissions in transport as the main component of electric vehicles. 3.18. Manufacture of automotive and mobility components Eligible according to the definition of the activity contemplated in the Climate RD. This activity includes the manufacture and modernisation of essential components to improve the environmental behaviour of vehicles with zero direct CO₂ emissions. In this context, Gestamp manufactures hot-stamped door rings using a process that reduces vehicle weight and is specifically intended for electric models. The door rings for vehicles that do not produce zero emissions are eligible, but not aligned, so they are excluded from the DNSH analysis. The Door Ring is an essential part of the vehicle as it constitutes a fundamental part of the bodywork. Reducing the weight of this part through hot stamping makes the final vehicle lighter compared to parts that do not follow this production system. This is because this technology reduces the number of parts used and reduces its thickness, allowing the manufacture of safer and lighter metal components, which results in a lightening of the total weight of the vehicle, decreasing energy consumption and, therefore, reducing CO2 emissions (improving the vehicle's environmental performance). As shown in the life cycle analysis of the Door Ring, emissions associated with the stages of raw material purchase, manufacturing and vehicle use are reduced thanks to this technology. We therefore consider that making parts lighter is a key factor in improving a vehicle’s environmental performance, as demonstrated in this report. 5.5. Collection and transport of non-hazardous waste in source segregated fractions Eligible according to the definition of the activity contemplated in the Climate RD. The technical description of this activity includes all non-hazardous waste collected and transported separately that is segregated at source and destined for preparation for reuse or recycling operations. In this sense, the activity of Gescrap, which is part of the Gestamp group, is based on the management of waste, mainly scrap generated in Gestamp plants and other companies, which is why it would fit with the technical selection criteria set out in the Annex. Eligibility analysis Analysis of the adequacy of Gestamp's activities to the technical criteria for substantial contribution DO NO SIGNIFICANT HARM (DNSH) CRITERIA The application of the Delegated Regulation (EU) 2026/73 has radically simplified the DNSH requirements associated with chemicals by limiting the evaluation only to substances classified in alignment with or included in the SVHC list, eliminating the obligation to analyse self-classified substances. This reduction of the technical scope has enabled Gestamp to demonstrate its compliance with less documentation and 142
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eliminate elements previously considered critical, resulting in an expansion of its number of activities adapted to or in alignment with the taxonomy. In this sense, the activity 3.4 Manufacture of batteries has been subjected to a detailed analysis of the DNSH requirements for each of the environmental targets: • Adaptation to climate change An Analysis of Climate Change Risks and Opportunities has been carried out in accordance with Appendix A of the Regulation, considering the physical risks identified for the plant engaged in the activity (point II of the same appendix). This analysis evaluates the possible climate impacts and associated resilience measures. For more information see the chapter Climate Change (E1). • Sustainable use and protection of water and marine resources; An analysis of the potential impact on water quality and availability has been carried out through a review of the technical specifications of the Battery Boxes to confirm the absence of materials/components with significant water risk. The main plant’s Environmental Impact Assessment and Zero Waste Certificate (90% recovery) demonstrate appropriate management of waste and consumption. • Transition to a circular economy In line with the corporate strategy of circularity, the AENOR certificate guarantees: • The use and exploitation of secondary raw materials. • The design of Battery Boxes for endurance, recycling and dismantling, confirmed in their technical specifications and expert assessment (almost zero plastic). • Waste management that prioritises recycling, as shown in the Zero Waste Certificate. For more information, see chapter Use of resources and circular economy (E5). • Pollution Prevention and Control The technical analysis and product files confirm that the Battery Boxes do not contain substances that are banned or listed in Appendix C of the Regulation. In this sense, the new Delegated Regulation simplifies the requirements associated with substances of concern in this block, eliminating the obligation to analyse self-classified substances under CLP and limiting the evaluation of substances classified as aligned or listed as SVHC. The conformity of adhesives and sealants has been confirmed by SDS and experts have confirmed the absence of mercury and other significant contaminants. • Protection and restoration of biodiversity and ecosystems. An analysis of the production plants’ sites indicates that, although some are located near protected natural areas, the nature of their processes and the absence of significant emissions and runoff make the risk of effects on biodiversity very low. For more information, see chapter Biodiversity and ecosystems (E4). 143
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Similarly, in line with previous years, the activity 3.18. Manufacture of automotive and mobility components, has been the subject of detailed analysis of the requirements regarding the DNSH of each objective. As explained in the previous section, the parts intended for vehicles that are not directly zero emissions have been excluded from the analysis as they do not meet the technical criteria for inclusion: - Adaptation to climate change A Climate Change Risk and Opportunity analysis has been carried out in accordance with the criteria defined in Appendix A of the Regulation and taking as a starting point those risks listed in point II of the same appendix in which the plant that carries out the aligned activity is located. For more information see the chapter Climate Change (E1). - Sustainable use and protection of water and marine resources; An environmental impact assessment has been carried out on the plant's operations, identifying and addressing the risks of environmental degradation related to water quality preservation and water stress prevention. - Transition to a circular economy According to the strategy set by the ESG department for circularity, Certified by AENOR, we ensure: I. The reuse and utilisation of secondary raw materials and reused components of manufactured products; II. The design for high durability, recyclability, easy disassembly and adaptability of the manufactured products; III. Waste management that prioritises recycling over disposal in the manufacturing process; For more information, see chapter Use of resources and circular economy (E5). - Pollution Prevention and Control An analysis of the specific activity determined as eligible has allowed us to determine that no polluting substances listed in Appendix C of the Regulation are used. The adjusted DNSH criteria applied in the Delegated Regulation (EU) 2026/73 simplifies this process by limiting the chemical analysis to substances with aligned classification or identified as SVHC, preventing unnecessary evaluations and enabling compliance verification for processes with multiple materials. - Protection and restoration of biodiversity and ecosystems The activity does not affect biodiversity or ecosystems and is not located in or near biodiversity-sensitive areas. For more information, see chapter Biodiversity and ecosystems (E4). 144
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Finally, regarding activity 5.5. Collection and transport of non-hazardous waste in fractions segregated at source, the same analysis has been carried out: - Adaptation to climate change The Climate Change Risk and Opportunity analysis includes Gescrap in the scope of analysis. This analysis has been carried out in accordance with the criteria defined in Appendix A of the Regulation and taking as a starting point those risks listed in point II of the same appendix in which the Gescrap plants that carry out the aligned activity are located. For more information see the chapter Climate Change (E1). - Transition to a circular economy It has been demonstrated by waste management authorisations and visual evidence that the waste fractions collected separately are not mixed in the storage facilities with other waste or materials with different properties, thus allowing the reuse of this secondary material and its introduction in the manufacture of new materials. 145
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COMPLIANCE WITH MINIMUM SOCIAL SAFEGUARDS Gestamp is aligned with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights, including the principles and rights established in the eight fundamental conventions referred to in the International Labour Organization Declaration on Fundamental Principles and Rights at Work and the International Bill of Human Rights. In this respect, the company has a series of internal policies and procedures which ensure that no negative social impact is made on stakeholders such as the Human Rights Policy, the Human Rights Due Diligence Process, the Health and Safety Policy, the Anti-fraud and Corruption Policy or ESG requirements for suppliers, inter alia. Throughout this report, information is provided on this matter. Main Aspects Chapters Compliance Summary Human Rights •GOV-4 Due Diligence Statement •S1 Own personnel •S2 Value chain workers •S3 Affected Communities •G1 Business Conduct Gestamp has policies that establish a series of basic principles of action applicable to both its direct and indirect activities regarding human rights in the countries where it operates. These policies are described in the referenced chapters and are the Human Rights Policy, the Conflict Minerals Policy, and the Code of Conduct. Additionally, Gestamp has a due diligence mechanism aimed at preventing, mitigating, and remedying any possible negative impact on human rights. Furthermore, Gestamp provides mandatory training on its Code of Conduct for all employees and makes its whistleblowing channel available to all its stakeholders. Anti- corruption and Bribery •G1 Business Conduct Gestamp has an Anti-corruption Policy whose purpose is to project and establish the general parameters of action to be followed by directors, managers, employees contractually linked to the Group's companies and third parties that relate to the Group, in order to send a strong message of opposition to corruption and fraud in all its manifestations and unequivocally convey its willingness to avoid such conduct within the organisation. This Policy develops the internal regulations concerning corruption and fraud already established in the Code of Conduct. 146
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Tax •Fiscal Strategy As defined in the Group's fiscal strategy (which is public), the security of its customers, suppliers, employees and shareholders is one of Gestamp's fundamental objectives and, therefore, its tax strategy is solidly built on the basis of commitment to the national and international tax regulations in force at any given time. At the same time, Gestamp is aware of the importance and necessity of making a positive contribution to the public finances of the different territories in which we operate and of the significance of our social contribution, and therefore has a clear and precise idea of its contributory social responsibility. In addition, Gestamp provides information annually on its tax contribution by country. Fair competition •G1 Business Conduct Gestamp, in its Code of Conduct, establishes provisions regarding competition such as: •Avoiding any measure aimed at an unlawful limitation of competition that contravenes legal provisions. In particular, employees must not engage in the following: secret agreements on price or terms of sale with competitors, secret agreements on waiving competition, the submission of sham bids, or client sharing or other market segmentation criteria. •Consulting with the legal department, in case of queries or doubts about whether it is engaging in unfair competition with any measure. 147
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RESULTS OF THE ELIGIBILITY AND ALIGNMENT EXERCISE The results of the indicators for the eligibility and alignment exercise have been as follows: 148 Taxonomic turnover ratio (%) 5,1 % 5,1 %3,6 % 2,6 %4,7 % 4,7 % 86,6 % 87,6 % CCM 3.4. Manufacturing of batteries CCM 3.18. Manufacturing of automotive and mobility components CCM 5.5. Collection and transport of non-hazardous waste in fractions segr... Ineligible/aligned turnover Eligibility (%) Alignment (%)— % 20,0 % 40,0 % 60,0 % 80,0 % 100,0 %
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METHODOLOGY FOR CALCULATING KPIs Gestamp has avoided the double-counting of activities during the analysis process as only one activity is deemed eligible, since the production of one piece may have been covered by several activities. As regards the calculation process, the accounting data were taken from corporate financial systems, and the reporting of these was also confirmed with plant teams. Said calculations do not include intercompany transactions, therefore no double-counting has occurred in this respect either. • Turnover: represents the amount of the net turnover derived from products or services covered by the Taxonomy. The turnover KPI offers a static view of the contribution of the company to the environmental objectives. The % is calculated as follows: o Numerator: net revenue which is associated with the economic activities carried out by the company that are taxonomically eligible. 149 Proportion of taxonomic CapEx (%) 17,6 % 17,6 % 5,4 % 5,1 % 1,3 % 1,3 % 75,7 % 76,0 % CCM 3.4. Manufacturing of batteries CCM 3.18. Manufacturing of automotive and mobility components CCM 5.5. Collection and transport of non-hazardous waste in fractions segr... Ineligible/aligned turnover Eligibility (%) Alignment (%)— % 20,0 % 40,0 % 60,0 % 80,0 % 100,0 %
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o Denominator: Considers the total volume of the net revenue of the company as stipulated in note 26 of the Consolidated Annual Accounts. • Capex: represents investments in fixed assets of an activity covered by the Taxonomy. CapEx offers a dynamic and prospective view of the plans of companies to transform their business activities. The% is calculated as follows: o Numerator: association of the CaPex allocated to the screened taxonomic activity o Denominator: includes the additions of tangible and intangible assets during the financial year before depreciations, amortisations and possible new valuations, including those resulting from increases and impairment of value, for the financial year of the company, excluding any changes in fair value. Any additions to the tangible and intangible assets which result from business combinations shall also be included. • OpEx: represents the proportion of operating expenses associated with activities covered by the Taxonomy. o Numerator: direct costs considered by the Regulation which are associated with activities under the EU taxonomy o Denominator: non-capitalised direct costs which are related to research and development, building renovation measures, short-term leasing, maintenance and repairs, as well as other direct expenses related to the daily maintenance of property, plant and equipment by the company or a third party to whom activities are subcontracted and which are necessary in order to guarantee the continuous and efficient operation of the aforementioned assets. In the case of the Opex calculation, because the costs directly included in the Regulation (€415.1 M) are not significant in comparison with the annual operating costs (€10,300.9 M), representing only 4.03% and considered non-material, they are not included in the report, in accordance with the guidelines of the European Commission. Gestamp recognises the importance of building a business that is increasingly in line with the European Green Taxonomy. In this regard, and in comparison with the figures reported last year, there has been an increase, albeit more moderate than in the previous year, of 1.6 p.p. in eligible sales and 5.2 p.p. in sales aligned with the Taxonomy, thanks to the simplification of the technical alignment requirements. Also, although an effort was made to identify the CapEx figures allocated to energy efficiency projects within Gestamp in line with the company’s commitment in this area, as mentioned previously, the decision was made to not include them on this occasion as they represent a very small percentage of the total. Gestamp will continue working on this analysis to provide eligibility and alignment figures that better reflect the reality of its business. 150
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151 Comparison 2024 vs. 2025 11,8 % 7,2 %13,4 % 12,4 %21,3 % 11,8 %24,3 % 24,0 % 2024- Turnover 2025 - Turnover 2024- CapEx 2025- CapEx Eligibility (%) Alignment (%)
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Proportion of turnover, CapEx and OpEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities – disclosure covering year (2025) (summary KPIs): ICR (Turnover) - Financial Year 2025 Breakdown of activities that fit the taxonomy by environmental objectives ICR Total (M€) Proportion of eligible activities according to the taxonomy Activities that fit the taxonomy Proportion of activities that fit the taxonomy Climate change mitigation Climate change adaptation Water Circular economy Pollution Biodiversity Proportion of enabling activities Proportion of transitional activities Not assessed activities considered non- material Taxonomy aligned activities in previous financial year (2024) Proportion of Taxonomy aligned activities in previous financial year (2024) Turnover 11.348,6 13,4 % 1.408,22 12,4 % 12,4 % 0% 0% 0% 0% 0% 12,4 % 0% — % 7,2 % 61 % CapEx 900,3 24,3 % 216,00 24,0 % 24,0 % 0% 0% 0% 0% 0% 24,0 % 0% 0,1 % 11,8 % 55 % OpEx N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 152
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Proportion of turnover from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities – disclosure covering year (2025) (activity breakdown): ICR (Turnover) - Financial Year 2025 2025 Environmental objective of the activities that conform to the taxonomy Economic activities Codes Taxonomy eligible KPI (Proportion of Taxonomy eligible Turnover) (%) Taxonomy aligned KPI (monetary value of Turnover) (M€) Taxonomy aligned KPI (proportion of Taxonomy aligned Turnover) (%) Climate change mitigation Climate change adaptation Water Circular economy Pollution Biodiversity Enabling activity Transitio nal activity Proportion of Taxonomy aligned in Taxonomy eligible Manufacturing of batteries CCM 3.4 5,1 % 582,37 5,1 % 5,1 % 0% 0% 0% 0% 0% E 100,0 % Manufacturing of automotive and mobility components CCM 3.18 3,6 % 291,38 2,6 % 2,6 % 0% 0% 0% 0% 0% E 71,9 % Collection and transport of non- hazardous waste in source segregated fractions CCM 5.5 4,7 % 534,47 4,7 % 4,7 % 0% 0% 0% 0% 0% E 100,0 % Sum of adaptation by objective 12,4 % — % — % — % — % — % Total turnover 11.348,6 13,4 % 1.408,22 12,4 % 12,4 % — % 92,5 % 153
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Proportion of CapEx from products or services associated with Taxonomy-eligible or Taxonomy-aligned economic activities – disclosure covering year (2025) (activity breakdown): ICR (CapEx) - Financial Year 2025 2025 Environmental objective of the activities that conform to the taxonomy Economic activities Code Taxonomy eligible KPI (Proportion of Taxonomy eligible CapEx) (%) Taxonomy aligned KPI (monetary value of CapEx) (M€) Taxonomy aligned KPI (proportion of Taxonomy aligned CapEx) (%) Climate change mitigation Climate change adaptation Water Circular economy Pollution Biodiversity Enabling activity Transitio nal activity Proportio n of Taxonomy aligned in Taxonomy eligible Manufacture of batteries, cells and accumulators CCM 3.4 17,6 % 158,54 17,6 % 17,6 % 0% 0% 0% 0% 0% E 100,0 % Manufacture of automotive and mobility components CCM 3.18 5,4 % 45,83 5,1 % 5,1 % 0% 0% 0% 0% 0% E 94,8 % Collection and transport of non- hazardous waste in fractions segregated at source CCM 5.5 1,3 % 11,63 1,3 % 1,3 % 0% 0% 0% 0% 0% E 100,0 % Sum of adaptation by objective 24,0 % — % — % — % — % — % Total CapEx 900,3 24,3 % 216,00 24,0 % 24,0 % — % 98,8 % 154
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Activities related to nuclear energy and fossil gas Ro w Activities related to nuclear energy 1. The company conducts, finances, or is exposed to the research, development, demonstration, and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. No 2. The company conducts, finances, or is exposed to the safe construction and operation of new nuclear facilities to produce electricity or process heat, including for urban heating purposes or industrial processes such as hydrogen production, as well as their safety improvements, utilising the best available technologies. No 3. The company conducts, finances, or is exposed to the safe operation of existing nuclear facilities that produce electricity or process heat, including for urban heating purposes or industrial processes such as hydrogen production from nuclear energy, as well as their safety improvements. No Activities related to fossil fuel 4. The company conducts, finances, or is exposed to the construction or operation of electricity generation facilities that produce electricity from gaseous fossil fuels. No 5. The company conducts, finances, or is exposed to the construction, renovation, and operation of combined heat and power (CHP) facilities that use gaseous fossil fuels. No 6. The company conducts, finances, or is exposed to the construction, renovation, and operation of heat generation facilities that produce heat/ cooling from gaseous fossil fuels. No 155
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I. Climate change (E1) List of IRO materials associated with the Climate Change standard (E1) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to climate change: Climate change mitigation / Energy CC1 I n/a - Deterioration in air quality as a result of emissions from fossil fuel consumption (greenhouse gases, GHG). Actual • Upstream • Downstream • Own Op. • ESG Policy • Energy Policy • Environmental Policy • ESG requirements for suppliers Gestamp develops decarbonisation actions in three levers: • What in manufactures. • How it's manufactured. • With what raw material it manufactures. Yes Adaptation to Climate Change CC2 R Transition n/a Change in resource availability due to climate change, with an impact on supply and prices. This risk includes possible disruptions in the supply chain and an increase in operating costs resulting from extreme weather events and changes in environmental patterns, as well as risks associated with new regulations, changes in environmental policies and greater market demands for sustainability. n/a • Downstream • Own Op. • ESG policy. • Environmental Policy. • Part lightweighting. • Circular economy strategy. • Agreements with suppliers. Yes CC3 R Physical n/a Exposure to extreme weather events (cyclones, hurricanes, typhoons, tornadoes, etc.) that may affect the Group's normal operations. n/a • Upstream • Downstream • Own Op. • ESG policy. • Environmental Policy. • Assessment of exposure to climate risks. • Adaptation plan with actions at the central and local levels. • Controls associated with minimizing the probability of materialization and potential impact. - Impact, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value chain 156
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CC10 R Physical n/a Extreme rainfall and flooding that may affect the Group's normal operations. n/a • Upstream • Downstream • Own Op. • ESG policy. • Environmental Policy. • Assessment of exposure to climate risks. • Adaptation plan with actions at central and local level. • Controls associated with minimising the probability of occurrence and potential impact. - CC6 0 Transition n/a Boosting the industry’s reputation and differentiating it from its competitors through the incorporation of new, more eco-efficient and environmentally friendly products. n/a • Upstream • Downstream • Own Op. • ESG policy. • Environmental Policy. Development of new products that address major sustainability challenges has positioned Gestamp as a trusted and reference supplier. - Climate Change Mitigation CC8 0 Transition n/a Accessing new markets for electric vehicles and increasing demand for related services. n/a • Downstream • Own Op. • ESG policy. • Environmental Policy. (business-related aspect) Development of new business units to centralize efforts. - CC9 0 Transition n/a The lightweighting of parts results in lighter vehicles with lower emissions and represents an opportunity to reduce the raw materials used in the manufacture of parts. n/a • Downstream • ESG policy. • Environmental Policy. • R&D projects and research. • Hot stamping. • Multi-material solutions. - Energy / Adaptation to Climate Change CC5 R Physical n/a An increase in temperature could mean an increase in air conditioning costs for Gestamp, especially when providing a suitable environment for the health and safety of its employees. n/a Own Op. • ESG policy. • Energy Policy. • Environmental Policy. • Studies on the behavior of air inside the facilities. • Energy efficiency projects. Yes Energy CC4 R Transition n/a Increased costs due to the transition to low-emission technologies. n/a • Upstream • Own Op. • Energy Policy. • Environmental Policy. • Co-development with OEMs of technological and product solutions that reduce emissions. • Improvements in the energy performance of plants. Yes Impact, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value chain 157
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CC7 O Transition n/a Cost savings from greater use of renewable energy through self-supply, PPA contracts and more energy efficient plants. n/a Own Op. • ESG policy. • Energy Policy. • Environmental Policy. Renewable energy purchasing strategy. Yes Impact, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value chain I: Impact, R: Risk, O: Opportunity, +: Positive, -: Negative 1 In addition to these actions, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers (including climate change). Furthermore, it engages with suppliers if any aspect considered significant is identified. For more information, see section "G1 – 2: Supplier Relationship Management". 2 For more information on the specific objectives set, see chapter "E1 – 4: Goals related to climate change mitigation and adaptation." Climate change is a global challenge that requires significant economic and strategic efforts. At the same time, it offers great opportunities that require innovative solutions, investment and new commitments in the short, medium and long term. Gestamp stands up to the challenge of sustainability and decarbonisation of the industry, and recognises the importance of collaboration between all actors in the value chain. 158
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SBM-3: Impacts, risks and opportunities and their interaction with strategy and business model CLIMATE CHANGE The Gestamp Group has conducted an exhaustive assessment of identified climate risks and explains how they are managed, while detailing the resilience of its strategy and business model to the effects of climate change. The company classifies identified risks into two primary categories: physical risks and transition risks. Identified material risks are classified in "E1". Macroeconomic trends affecting Gestamp, considered in the context of the transition towards a low-carbon economy, will be affected by the sustainable preferences of consumers and climate regulations. The company believes that it needs to adapt its processes and to use sustainable materials, such as green steel, as it adapts to the reality of these changes. The climate risk analysis conducted by the company in 2023 took account of the IPCC's SSP2-4.5 climate scenario for climate-related risks and the net-zero scenario for climate-related transition risks and opportunities. In 2024, a climate stress analysis was carried out to evaluate the resilience of the Group's activity against climate change based on the IPCC (Intergovernmental Panel on Climate Change) SSP5-8.5 and IEA (International Energy Agency) NZE scenarios for its entire value chain. In this reporting period, it employed advanced regional climate models to assess the company's vulnerability to a range of climate risks. The time horizons used as part of the analysis are defined as short term up to 2030, medium term up to 2050 and long term up to 2100, since they are consistent with the selected climate scenarios of the IPCC and the IEA, and are deemed to be close enough for the scenarios to be plausible and simultaneously distant enough for significant changes to take place between the scenarios and the present time. The company also considers investment horizons and asset useful life when establishing these terms. As shown by these assessment exercises, the effects related to temperature and water are expected to rise in frequency and intensity and will impact both internal operations and upstream and downstream operations of the value chain. The financial effects and costs of implementing the adaptation plan will determine the degree to which the company is able to rise to these challenges (resilience). Gestamp is therefore striving to determine the potential financial effects of climate change and to estimate the costs of implementing its adaptation plan. On this basis, it is assessing the monetary amounts, the proportion of affected companies and, therefore, the provisions required to implement adaptation and mitigation measures. As part of its resilience analysis, no physical or transition risks are being excluded, to the extent that they have a material effect on its activities and value chain. Steps are being taken to cover all relevant aspects that may affect its strategy and decision- making processes, at every stage in its value chain. 159
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Finally, the company will evaluate its capacity to adjust its strategy and business model in order to guarantee short-, medium- and long-term resilience. That includes improving assets, adjusting the product and service offer and organising staff training initiatives. Gestamp is also considering maintaining access to financing at an affordable cost of capital. For more information see chapters 'E1-1’ and ‘E1-3’. E1 – 1: Transition plan to mitigate climate change Gestamp has emission reduction targets validated by the Science Based Targets I n i t i a t i v e ( S B T i ) i n 2 0 2 0 . T h e s e t a r g e t s , a l i g n e d w i t h a W e l l - b e l o w 2 ° C s c e n a r i o , i m p l y a 30% reduction in Scope 1 and 2 emissions and a 22% reduction in Scope 3 by 2030 (baseline year 2018). This reduction in scope 3 applies specifically to categories 1 (purchased goods and services) and 3 (energy-related activities), which account for the majority of the Group's emissions (84.5% of total emissions in 2018). In 2022, in response to regulatory developments, its customers’ objectives and its own c o m m i t m e n t t o d e c a r b o n i s a t i o n , G e s t a m p , a s p a r t o f t h e E S G 2 3 - 2 5 P l a n , d e c i d e d t o update its climate roadmap, setting carbon neutrality for 2050 and more ambitious interim targets, such as reducing Scope 1 and 2 emissions by 45% and achieving 62% renewable electricity by 2025, as well as Scope 2 neutrality by 2030 and Scope 1 neutrality by 2045. These targets were intended to update those previously validated by SBTi; however, the situation in the automotive sector in 2024–2025, marked by a slowdown in electrification, the revision of climate commitments by OEMs and suppliers, and the emergence of new options for validating net-zero targets, led to this update being reconsidered internally. Therefore, although they were analysed in depth, the 2023–2025 targets were ultimately not submitted to SBTi for validation. 160
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Throughout 2025, Gestamp continued to advance its climate change strategy, in line with regulatory requirements, including the European goal of achieving climate neutrality by 2050, and with its customers' emissions reduction targets. Alongside the development of the new ESG 26-30 Plan, the company reviewed and updated its Decarbonization Plan to ensure compliance with the established objectives. This process has allowed us to maintain and even raise the level of ambition, adjust the baseline year to 2024, and redefine strategies in areas with the greatest potential impact. Additionally, the plan's objectives have been aligned with global warming scenarios of 1.5°C, reinforcing the coherence of the climate strategy with international best practices. To define this strategy, the company: • It has multidisciplinary working groups led by the ESG Directorate, with participation from the Purchasing, Energy Efficiency, Commercial, and Operations departments. These groups focus primarily on identifying and monitoring scenarios for the electrification of processes using different technologies; the global renewable energy procurement strategy; and cross-referencing commercial project information to ensure the productive viability of the changes and the achievement of the objectives set by the client. • It analyzes the neutrality objectives and time horizons of car manufacturers and their GHG reduction requirements, also incorporating information from relevant external sources such as public peer information, ESG rating criteria, sector trends and international regulatory frameworks. • It monitors, for all production plants within its environmental scope, the most intensive sources of emissions, both by type of facility and by type of energy consumed. It also updates annually the inventory of fossil fuel-consuming equipment globally. • It promotes energy efficiency measures in production plants, for example, through the implementation of shutdown protocols. • Analyze the market in search of new alternatives that promote energy decarbonization, such as the use of biomethane. • Focus the renewable electricity purchasing strategy on the main emission points with a more polluting energy mix. • It studies, both technically and economically, the feasibility of establishing emission reduction measures for the 3 scopes over time. Alignment of the Decarbonisation Plan with 1.5°C Gestamp's Decarbonisation Plan, updated in 2025, has been designed in accordance with international best practices and its objectives aligned with scenarios limiting global warming to 1.5 °C. Its definition follows a clear methodological logic: • Complete emissions inventory: The company calculates its carbon footprint in accordance with the GHG Protocol, including Scopes 1, 2 and 3 and considering 161
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all relevant categories of the value chain, which provides a comprehensive and consistent basis for decision-making. In addition, under the new Decarbonisation Plan, climate targets have been redefined on an updated perimeter covering 100% of the Gestamp Group, remedying the limitations in the scope of the previous 2022–2025 plan and ensuring that future targets fully reflect the consolidated perimeter. • Scientific and methodological references: IPCC scenarios are used as a reference to determine the reduction levels required on a global scale. Likewise, in accordance with SBTi, corporate objectives are aligned with the 1.5 °C scenario, thereby remaining consistent and quantifiable. • Ambitious and measurable targets: Gestamp has set a 70% reduction in Scope 1 and 2 emissions by 2030 and a commitment to achieve net zero emissions by 2050 for Scopes 1, 2 and 3, exceeding the minimum requirements recommended by climate science. In addition, the plan update exercise takes 2024 as its baseline year, ensuring consistency and comparability in the measurement of progress. Although the targets have not yet been formally validated by external initiatives, the combination of a comprehensive inventory, the use of recognised scientific references and the application of reputable methodologies allows us to affirm that Gestamp's Decarbonisation Plan is aligned with a trajectory compatible with the 1.5 °C target. • Action plan and monitoring system: The plan includes specific measures in the areas of energy efficiency, increased use of renewable energies, optimisation of production processes and further decarbonisation of the supply chain. All of this is accompanied by annual monitoring and transparent reporting to ensure consistency between the objectives set and actual performance. Decarbonization Levers and Investments Gestamp's previously detailed decarbonisation strategy is based on three fundamental levers: • What we manufacture: Gestamp manufactures lighter automotive parts than its competitors, thereby reducing emissions from the end vehicle. Although Gestamp’s parts do not generate emissions directly, they do influence the vehicle’s overall emissions (see section E 1-3 for further details). Lightening these components is therefore essential to improving the vehicle’s efficiency and range. For more information on the methodology used to calculate the carbon footprint of Gestamp’s products, see section “E5”. Use of resources and circular economy ". It also has a business unit dedicated to electric vehicles, whose mission is to develop the best solutions for adapting its products to the new technical requirements of electric cars. • How we manufacture: Gestamp is transforming its production towards a more sustainable model thanks to the electrification of its industrial processes. This means it can focus on actions related to energy efficiency and the purchase and self-supply of renewable energy. A qualitative analysis has also been carried out of p o t e n t i a l l o c k e d - i n e m i s s i o n s a s s o c i a t e d w i t h a s s e t s a n d p r o c e s s e s u n s u i t a b l e f o r s h o r t - t e r m e l e c t r i f i c a t i o n . T h i s a n a l y s i s i n c l u d e s a r e v i e w o f n o n - r e p l a c e a b l e 162
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equipment, such as certain large forklifts or heavy industrial machinery, and i d e n t i f i e s l o w e r - i m p a c t a l t e r n a t i v e s , s u c h a s t h e u s e o f b i o m e t h a n e o r o t h e r renewable fuels where electrification is infeasible. This enables the anticipation of unavoidable future emissions that will result in residual emissions, and the prioritisation of investments aligned with the decarbonisation pathway. The following chart shows the levers and the contribution of each to the reduction of Scopes 1 and 2: • Raw materials we use to manufacture: With more than 73% of its emissions coming from raw materials (category 1 of Scope 3, steel and aluminum consumption), Gestamp understands that circularity is a key stepping stone towards decarbonising the automotive industry. Therefore, in 2022, Gescrap was incorporated into the Group and signs important low-emission steel agreements with steel makers on an annual basis. For more information see chapter "E5. Use of resources and circular economy". Gestamp has a CapEx investment plan aligned with its decarbonisation strategy, which includes the progressive replacement of combustion furnaces and boilers with electric equipment in production processes, as well as energy-efficiency measures and preparation for the use of new biofuels when they become technically and economically viable. 163
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Although the company has an initial overall estimate of the investment effort required to complete decarbonisation, the details of the plan are defined and reviewed annually, assessing viable scenarios and allocating the corresponding resources each year. Within this framework, investment in electrification in 2025 amounts to €726.2K, while an investment of €2.68 million is planned for 2026. Moreover, CapEx executed by the Energy Efficiency department amounted to €1.19 million in 2025. Regarding OpEx, this is primarily linked to the purchase of renewable energy through P P A s , g u a r a n t e e s o f o r i g i n a n d s e l f - c o n s u m p t i o n , w i t h n o s i n g l e q u a n t i f i e d g l o b a l p l a n , since deployment depends on regulatory and market availability in each country. For more information on the measures implemented and CapEx and OpEx allocated to the decarbonisation plan in 2025, see chapter “E1-3”. Furthermore, Gestamp has linked the refinancing of a significant part of its debt with banks to specific decarbonisation targets. In terms of sales, CapEx and OpEx figures aligned with the criteria set out in Commission Delegated Regulation (EU) 2021/2139. An upward trend is expected in line with electric vehicle production and energy efficiency measures in the coming years. The company plans to further align its activity progressively with the taxonomy provided in Delegated Regulation (EU) 2021/2139, in order to support the transition to a sustainable economy. CapEx amounts relating to coal, oil and gas are not applicable, as the company's activity is not linked to these industries. Gestamp is also excluded from EU-Paris aligned benchmarks. It does not engage in activities related to controversial weapons, tobacco cultivation or production. Nor does it act in non-compliance with UN Global Compact principles, or gain significant revenue from fossil fuel exploitation or GHG- intensive electricity generation. Incorporation and Alignment of the Transition Plan with the Overall Strategy The design of the transition plan includes specific actions to reduce the Group's emissions, aligned with the previously described decarbonisation objectives. This has been approved by the Sustainability Committee, and any updates will be approved in the same way. In addition, the plan is incorporated in alignment with the company's overall strategy and financial planning, and the progress of its implementation is evaluated and reported. There is also an approved CapEx plan for carrying out the company's decarbonisation strategy. 164
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E1 – 2: Policies related to climate change mitigation and adaptation Gestamp develops its decarbonisation commitment and strategy through three policies: the ESG Policy, approved on 27 February 2024; the Energy Policy, approved on 18 July 2024; and the Environmental Policy, approved on 24 February 2021: ESG Policy CC1, CC2, CC3, CC5, CC6, CC7, CC8 and CC9 The ESG Policy establishes the principles on which Gestamp builds its strategy and performance in environmental, social and governance matters ("ESG"). These principles are aligned with its business objectives, corporate culture and the United Nations 2030 Agenda. Additionally, taking into account the interests of key stakeholders in climate-related aspects, Gestamp has defined the ESG Policy, which includes a detailed description of how the company analyses and monitors material impacts, risks, and opportunities related to climate change mitigation and adaptation to climate change. 1. Climate Change Mitigation: The ESG policy addresses key principles for decarbonisation and the fight against climate change. The company contributes to mitigation by reducing its GHG emissions, promoting energy efficiency and using renewable energy. These actions support the aims of the European Green Deal and improved air quality. The company is also working to reduce the carbon footprint of cars during their useful life by making parts lighter. 2. Adaptation to Climate Change: In terms of adaptation, the ESG policy includes the review and approval of ESG risk rating scales, taking into account impact, likelihood of occurrence and risk velocity, as well as mitigating controls. Assets and activities exposed to impacts from climate risks are also analysed and assessed. 3. Energy Efficiency: The ESG policy promotes energy efficiency measures by identifying and implementing energy saving strategies at plant level. Among other measures, the company focuses on monitoring gas and electricity consumption to create an efficient performance model. 4. Renewable Energy Rollout: The company adopts the use of renewable energy through three main channels: signing long-term renewable energy supply agreements (PPAs), purchasing Renewable Energy Certificates (RECs), and the self- supply of energy. 5. Other Principles of Conduct: As well as the above, the company's ESG policy addresses efficiency in the use of natural resources, promoting the reduction of raw materials used, and ensuring the efficient use and correct treatment of water. A circular economy approach is followed, in order to produce automotive components with a high recycled material content by reintroducing scrap as a secondary raw material. The company is also committed to caring for and 165
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protecting natural capital, ecosystems and biodiversity, and to combating deforestation across the value chain. This policy applies in all the regions where Gestamp carries out its activity, and these commitments extend across its entire value chain. Implementing the commitments set out in this policy rests with ESG Management and ultimately with the Sustainability Committee. Gestamp provides its stakeholders with different communication channels depending on whether they are employees, customers, suppliers, regulatory bodies, the financial community or civil society. This policy is available to interested parties on the Group's corporate website. For more information see: ESG Policy Energy Policy CC1, CC4, CC5 and CC7 The international standard ISO 50001 requires Senior Management of companies to establish an energy policy appropriate to the organisation's objectives and to provide a framework for setting and reviewing energy objectives and targets. Therefore, considering the interests of key stakeholders, this policy is defined with the primary aim of establishing a solid framework for efficient energy management, improving energy performance, reducing energy consumption (and therefore costs), while strengthening competitiveness in the global market and minimising environmental impact. This Policy also sets out Gestamp's principles, aims and responsibilities in relation to energy use, providing a clear framework for the effective execution of an energy management system. This means that Gestamp is committed to: • Constantly improving our energy consumption by identifying and applying best practices, efficient equipment and effective technologies. • Reducing our energy consumption continuously by optimising processes and promoting a culture of responsible energy use. • Continuously explore new technologies and innovative solutions that reduce the company's environmental impact and improve energy efficiency. • Ensure the energy efficiency of all equipment and services purchased. • Comply with all laws, regulations and standards related to energy use and environmental protection in all Gestamp operations. • Encourage Gestamp employees to participate in identifying opportunities for energy improvement and promote awareness of the importance of energy efficiency at all levels of the organisation. 166
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This Policy applies to Gestamp Automoción S.A. and its subsidiaries (collectively "Gestamp" or the "Group"). Gestamp shall also ensure compliance with this Policy by its third-party suppliers, where applicable. Gestamp's Senior Management undertakes to provide the resources required for the effective implementation of this Policy and to regularly review its fulfilment. All employees have the responsibility to comply with the requirements of this Policy and to actively contribute to the continuous improvement of our energy performance. To this end, communication is essential through internal correspondence, meetings, training sessions, posters, printed material, and information published via the Gestamp intranet and website. For more information see: Energy Policy Environmental Policy CC1, CC2, CC3, CC4, CC5, CC6, CC7, CC8 and CC9 Pursuant to the Regulations of the Board of Directors of Gestamp Automoción, S.A., the Board is responsible for defining and promoting the overall policies and strategies of the Company and its group ("Gestamp Group"). Through the Environmental Policy, the Gestamp Group takes into account the interests of key stakeholders and acknowledges the influence of its industrial activity on the environment and on increasing environmental requirements. In this regard, Gestamp is firmly committed to conducting its activity while protecting, preserving and respecting the environment, as well as controlling and minimising the potential adverse environmental impact caused by its production processes. The policy aims related to climate change are: • To encourage environmental training for all employees and internal stakeholders in order to raise awareness of environmental issues affecting the Gestamp Group and promote their active participation in environmental protection. • To define a set of objectives and targets aimed at environmental improvement, reviewed regularly to ensure that they are in line with the stated policy and to further improve. • To comply with any environmental regulations applicable to the activities, products and services of the Gestamp Group and any commitments that the company undertakes voluntarily, including the fight against climate change and improved air quality. • To promote processes and procedures that have minimum environmental impact, and to prevent, control and minimise the environmental pollution risks that our activity may pose to the environment. It is essential for all Gestamp Group employees to be involved. There are communication channels in place at each of our facilities, as well as an anonymous corporate email address where any employee may send their questions, suggestions and best practices. Through the Environmental Management System in place, the company has formed technical teams that are actively involved in decision-making related to the environment, who handle the everyday management of these matters 167
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and help to report on changes and new developments. In addition, this Policy is also available to shareholders, employees and other stakeholders on the Company’s website and its content is referred to in the Gestamp Group's Sustainability Report. For more information see: Environmental Policy All the company's climate change measures are aligned with its climate neutrality targets for 2030, 2045 and 2050. In terms of strategic planning, many of these measures are transferred to earlier stages of the value chain through supplier approval and ESG requirements for suppliers. See chapter "G1-2". 168
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E1 – 3: Actions and resources in relation to climate change policies In pursuit of the 3 levers defined by Gestamp on the road to decarbonisation, the Group has embarked on several lines of action: What we manufacture • Products and services: Gestamp developed a strategy on products and services related to climate change that began even before the appearance of electric vehicles on the market. The company designs and manufactures lighter components that reduce the weight of the vehicles in which they are installed, thereby lowering energy consumption and, consequently, to greenhouse gas emissions during the use phase. It is significant that these reductions do not relate to emissions generated by Gestamp, as the parts do not emit per se, but to the added value they provide to car manufacturers, for whom the use phase represents the main source of emissions. To support the roll-out of electric vehicles, Gestamp created a new dedicated business unit in 2018, whose mission is to develop solutions tailored to the technical needs of electric platforms. • Investment in R&D: Customers are increasingly demanding lighter parts to reduce the finished vehicle's weight, increase its range, and lower emissions per kilometre. In this context, the objective of the R&D area is to develop innovative solutions that reduce component weight, thereby cutting energy consumption and, by extension, C O ₂ e m i s s i o n s d u r i n g v e h i c l e u s e . T h i s v i s i o n i n c o r p o r a t e s a g l o b a l l i f e - c y c l e perspective, which is key to supporting manufacturers’ decarbonisation targets. Gestamp also has 13 R&D centres that work on the approval of new materials (low- emission, recycled, etc.) and promote co-development throughout the value chain for the design of the product needed for the mobility of the future. The Technology and Innovation office plays a key role in Gestamp's business, developing key projects in the field of clean technologies and driving the company's decarbonisation strategy. How we manufacture Gestamp has drawn up a roadmap to reduce its Scope 1 and 2 emissions in line with the Paris Agreement and its customers’ requirements. In this context, the company is transforming its production towards a more sustainable model by electrifying its industrial processes (Scopes 1 and 2), enabling it to focus on emissions reduction through energy efficiency measures and the promotion of renewable energy procurement and s e l f - c o n s u m p t i o n . T h e E n e r g y E f f i c i e n c y d e p a r t m e n t h a s a c c e l e r a t e d t h e c o m p a n y ’ s decarbonisation strategy through specific energy efficiency actions in multiple operational areas. In 2025, 56 plants took part in the Energy Efficiency Programme, aimed at implementing i m p r o v e m e n t s i n e n e r g y - i n t e n s i v e p r o c e s s e s , c o n d u c t i n g p l a n t - l e v e l e n e r g y p e r f o r m a n c e assessments, sharing best practices from benchmark regions and fostering a culture of responsible energy use. 169
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To support these objectives, gas and electricity consumption is monitored in order to build performance models that identify and report potential deviations, thereby s t r e n g t h e n i n g d a t a - d r i v e n e n e r g y m a n a g e m e n t a c r o s s t h e G r o u p . The following initiatives demonstrate the company’s progress with energy efficiency and, consequently, on reducing energy consumption and avoiding CO₂ emissions, in line with the strategic pillars of the Corporate Energy Efficiency department. • Energy efficiency measures: Gestamp published its energy policy in 2024. This demonstrates the Group's alignment with the decarbonisation plan objectives and provides the necessary resources for the effective implementation of the energy efficiency programme. The most notable measures implemented during 2025 were as follows: 1. Compressed air: Improvements to compressed air systems continued to be a key factor in the energy efficiency programme. A total of 23 measures delivered energy savings of 3,876 MWh, avoiding 1,336 tonnes of CO₂e, of which 3,076 MWh resulted f r o m t h e a g g r e s s i v e r o l l - o u t o f t h e c o m p r e s s e d a i r l e a k c a m p a i g n . G e s t a m p L o u n y i n s t a l l e d a c a p a c i t i v e d e w - p o i n t c o n t r o l s y s t e m t h a t r e d u c e d compressed air consumption by 50%. These actions reinforce the company’s commitment to minimising energy losses and improving operational efficiency in production assets. 2. Gas usage: Specific initiatives were implemented at the beginning of the year to reduce natural gas consumption. A total of six measures were implemented, avoiding the consumption of 2,050 MWh and 415 tons of CO2e. Gestamp Japan implemented an automatic reduction of the dew point temperature during periods of absence, achieving annual savings of 138 MWh. These initiatives support the transition to lower-carbon thermal processes and more responsible energy use. 3. New technologies: The introduction of new, efficient technologies continued to play a major role in reducing the company’s environmental footprint. A total of 11 initiatives achieved energy savings of 1,379 MWh and avoided 463 tonnes of CO₂e. Key actions i n c l u d e d t h e g r a d u a l r e p l a c e m e n t o f c o n v e n t i o n a l l i g h t i n g w i t h h i g h - e f f i c i e n c y L E D systems, which significantly reduced electricity consumption while improving lighting quality and enhancing safety conditions across all facilities. Gestamp Puebla replaced old inefficient lamps with LEDs equipped with presence sensors and dimming controls, cutting electricity consumption by 455 MWh and 202 tonnes of CO₂e. 4. Unnecessary energy consumption: Measures aimed at eliminating avoidable energy use made the largest contribution to annual savings. A total of 77 initiatives resulted in 4,891 MWh in savings and 1,745 tonnes of CO₂e avoided. At Gestamp Vigo, the restructuring of production sequences on the paint line reduced weekend standby consumption while maintaining operational flexibility. This 170
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optimisation resulted in annual savings of 267 MWh from combined electricity and natural gas consumption. 5. Technological improvements: To modernise internal logistics at Gestamp Beijing, traditional electric forklifts were replaced with automated guided vehicles. This automation improved energy consumption, as the AGVs use less energy and optimise charging cycles compared with conventional electric forklifts. The project achieved annual electricity savings of 180 MWh and also contributed to a safer working environment. 6. Variable speed drives: Reusing existing assets by installing them with VSDs increased efficiency and extended equipment lifetime. Four projects were implemented on air compressors and cooling units, reducing annual electricity consumption by 2,085 MWh. G e s t a m p ’ s W e s t V i r g i n i a p l a n t i n s t a l l e d V S D s o n t h e l o w - p r e s s u r e c o m p r e s s o r network. This installation improved the compressors’ specific energy consumption (SEC) and generated annual energy savings of 1,446 MWh and 638 tonnes of CO₂e avoided. In total, 124 energy efficiency measures were implemented, with an approximate ROI of 1.7 years and a reduction of 14,601 MWh of energy consumption and 4,814 tons in CO₂e emissions. Additionally, the KPI program implemented across production assets is a key initiative for monitoring equipment energy performance in real time and triggering alerts in case of inefficiencies. By acting quickly on deviations, a significant improvement was achieved in reducing unnecessary energy consumption by almost 27,010 MWh. These savings are clear evidence of the effective application of the shutdown protocol standards launched three years ago in the area of Operational Excellence. In addition, training sessions were held to strengthen commitment and collaboration, raise awareness and emphasize the importance of responsible energy use. In 2024, an energy efficiency assessment program was launched across all divisions, which was successfully completed at 50 plants. The program continued throughout 2025, during which assessments were conducted at 41 plants, with 33 repeat assessments and 8 at newly incorporated plants. At the plants where the assessment was repeated, the 2025 results showed an average improvement of 14% in the assessment compared to 2024. Demonstrating continuous improvement from a group-wide perspective, 14% of the plants included in the project scope certified their energy management system according to ISO 50001. For the remaining plants included in the initiative, it is important to highlight that the energy efficiency assessment model is fully aligned with the requirements of the ISO 50001 guidelines. In 2025 the group allocated €1.1 million in CapEx to energy efficiency; see chapter "Disclosure of information pursuant to Article 8 of Regulation (EU) 2020/852: European Union Taxonomy" for further information. 171
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• A three-channel renewable energy supply strategy: 1. Signature of long-term renewable energy supply agreements (PPAs). In 2025, a solar PPA was signed to supply one of the plants in India, which will be operational in early 2026, and a virtual PPA was signed to cover consumption in several European countries, which will come into operation on 1 January 2026. 2. Purchase of Renewable Energy Certificates (RECs). By 2025, production plants in the United Kingdom, Poland, Slovakia, Sweden and Portugal have consumed green energy with guarantees of origin through their marketing company, and renewable energy certificates have been purchased for part of consumption in Germany, Hungary, France, the Czech Republic, China, India, and the USA. 3. Energy self-consumption. In 2025, 43 GWh of solar photovoltaic energy from self- consumption was consumed in plants located in China, India, Spain, Portugal and Japan, representing an increase of 48% compared to 2024. During this year, plants were commissioned in Japan and Portugal, and new solar self-consumption developments were awarded in China, the United Kingdom and Poland. 4. Electrification: During 2024–2025, Gestamp has been driving electrification in some o f i t s e n e r g y - i n t e n s i v e , g a s - b a s e d p r o c e s s e s . M o r e t h a n € 4 m i l l i o n i n C a p E x w a s i n v e s t e d ( € 7 2 6 . 2 K i n 2 0 2 5 ) t o e l e c t r i f y h o t - s t a m p i n g f u r n a c e s i n B i z k a i a a n d A v e i r o , fully eliminating 7,578 MWh of energy consumption and 2,722 tonnes of Scope 1 C O ₂ e e m i s s i o n s . T h e e l e c t r i f i c a t i o n o f c a t h o d i c e - c o a t i n g l i n e s i n M e t a l b a g e s a n d Vendas Novas has also been completed and is currently under review to confirm the expected reductions in natural gas consumption and emissions. At the group level, in 2025, energy savings of 49 GWh were achieved thanks to the 124 energy efficiency measures implemented, the successful tracking of the KPI programme and electrification projects. This saving has resulted in a total reduction of 14,138 tonnes of CO₂e, representing approximately a 4% reduction in Scope 2 emissions and a 5% reduction in Scope 1 emissions compared to the corresponding year. 172
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Raw materials we use to manufacture The company’s processes linked to the supply chain take into account 3 key lines of action: 1. Collaboration with customers to develop solutions that promote the reduction of CO2 emissions throughout the life of the vehicle. 2. Collaboration with suppliers to align with the Scope 3 reduction targets and achieve a supply chain with a lower climate footprint. In this context, it is important to note that most of Gestamp’s Scope 3 emissions come from the consumption of raw materials (Category 1), mainly steel and aluminium. The company’s ability to reduce its footprint depends largely on two factors: ( i ) t h e d e c i s i o n b y O E M s t o u s e l o w - e m i s s i o n m a t e r i a l s — a s t h e y a r e t h e o n e s who approve and, in many cases, negotiate directly with steel suppliers, placing Gestamp in a resale role — and (ii) the availability, on the part of suppliers, of materials with a lower carbon footprint. To secure future access to these materials, Gestamp has begun to enter into strategic agreements with steel suppliers. Some noteworthy examples in 2025: • ThyssenKrupp will supply Gestamp's plants with its CO 2-reduced bluemint steel. This agreement not only strengthens the Group's circular economy model, but also supports OEMs seeking carbon neutrality and NetZero-Car. • Opting for Salzgitter Flachstahl's SALCOS® steel will allow Gestamp to offer its customers CO2-reduced steel from 2026 3. The acquisition of Gescrap, which provides the automotive sector with high-quality scrap metal necessary for green steel production, is a key component of the acquisition. The aligned and eligible CapEx is presented in the chapter " Disclosure of information pursuant to Article 8 of Regulation (EU) 2020/852: European Union Taxonomy." Gescrap plays an essential role as a supplier of secondary raw materials, acting as a catalyst for closing the steel loop and contributing to the decarbonization of the value chain. Its ability to reintegrate recyclable materials into the production system is critical to ensuring a stable supply of low-emission steel. 4. Product carbon footprint calculation as a strategic tool: Gestamp uses the calculation of its products' carbon footprint as a key lever to evaluate the impact of these actions both at the production level and in its material selection. The results allow identifying areas with the greatest potential for improvement in emissions reduction, optimising decision-making from an initial design phase. Through this approach, the company strengthens its ability to offer solutions aligned with its customers' decarbonisation demands and global regulations. 173
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The timeframe set by the company for the above-listed actions is until the decarbonisation strategy is completed or until zero net emissions are achieved in the corresponding scope. For more information on the targets, see " E1-1". Furthermore, the actions do not refer to a specific region, but are group-wide, and apply to every region in which Gestamp carries out its activity. CapEx and OpEx figures are related to Note 4.6 and 27, respectively, of the financial statements. In addition, the automotive and components manufacturing sector faces numerous climate challenges arising from the Paris Agreement: at European level, the c l i m a t e - n e u t r a l i t y o b j e c t i v e f o r 2 0 5 0 s e t o u t i n t h e E u r o p e a n G r e e n D e a l ; t h e F i t f o r 5 5 package, which establishes a reduction of at least 55% by 2030; the revision of the CO₂ regulations for cars and vans, which replaces the 2035 ban with a −90% target from that year onwards, with offsets allowed for the remaining 10%; and the Nationally Determined Contributions (NDCs) of individual States. These regulatory frameworks highlight the need to carry out transition measures through a fair model, taking care not to leave anyone behind. In addition, climate change gives rise to an increase in temperatures and extreme weather phenomena, as well as loss of resources, which must be taken into account by companies in the industry in order to mitigate their impact. Gestamp considers climate change risk in the Corporate Risk Map and it carries out a specific analysis on Climate Change risks and opportunities affecting business in order to: • Anticipate and adapt to the climatic risks that affect business, as well as take advantage of the opportunities it may offer. • Measure the financial impacts of climate change according to different scenarios and possible futures in the short, medium and long term. The result has been integrated into the double materiality analysis and risk and opportunity management measures have been identified: 174
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Risks and Opportunities Cod e Type Description of the risk Time horizon Economic impact Risk management Risks CC3 Physical (Acute) Increased exposure to extreme weather events: cyclones, hurricanes, typhoons, tornadoes, etc. Short-term Light Gestamp has several contingency plans and central and local action plans in place to mitigate risks posed by natural disasters, including emergency and evacuation plans as well as insurance cover which includes natural catastrophes. Medium- term Light Long-term Light CC5 Physical (Chronic) An increase in temperature could mean an increase in air conditioning costs for Gestamp, especially when providing a suitable environment for the health and safety of its employees. Short-term Light Studies are being conducted on the behaviour of the indoor air of the facilities in order to allocate resources in the most efficient way possible. Medium- term Light Long-term Moderate CC2 Transition Changes in resource availability due to climate change leading to a decrease in supply and an increase in prices. Short-term Light Thanks to the lightening of parts, Gestamp has managed to reduce the use of raw materials used in their production. Likewise, it has opted for a circularity strategy where the reintroduction of scrap as a secondary raw material has become fundamental in the system. In this sense, it has established agreements with suppliers to enable the availability of materials with a high recycled content, and at the same time, more sustainable. Medium- term Moderate Long-term Moderate CC4 Transition Increased costs due to the transition to low-emission technologies. Short-term Moderate Gestamp's R&D department co-develops with customers new technological and product solutions that reduce emissions during the manufacturing and service life of the vehicle. In addition, the energy efficiency department looks for solutions that contribute to the best energy performance of the plants. Medium- term Moderate Long-term Light Opportunities CC6 Transition Boosting the industry’s reputation and differentiating it from its competitors through the incorporation of new, more eco-efficient and environmentally friendly products. Short-term Light The development of new products that address major sustainability challenges has positioned Gestamp as a trusted supplier and a benchmark for its customers. Medium- term Light Long-term Light CC7 Transition Cost savings from greater use of renewable energy through self-supply, PPA contracts and more energy efficient plants. Short-term Light In 2022, Gestamp approved its 2050 Neutrality strategy, establishing a decarbonisation plan for its production processes that includes the change of machinery and a strategy focused on the purchase of renewable energy. In addition, in 2020 it validated its SBTi emissions reduction targets and, in 2022, it published its ESG Plan. Medium- term Light Long-term Light 175
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CC8 Transition Accessing new markets for electric vehicles and increasing demand for related services Short-term Moderate Gestamp has set up a business unit exclusively devoted to electric vehicle batteries in order to centralise efforts and address any challenges and opportunities that arise. Medium- term High Long-term High CC9 Transition The lightweighting of parts results in lighter vehicles with lower emissions and represents an opportunity to reduce the raw materials used in the manufacture of parts. Short-term Moderate Gestamp, thanks to the progress of the R&D department, has become a leader in hot stamping technologies, which together with its experience in multi-material solutions, offers innovative alternatives that allow for the lightening of components. Medium- term Moderate Long-term Moderate As mentioned in section IRO-1, Gestamp identifies, assesses, and prioritizes physical and transition risks through a structured process based on the climate change risk and opportunity assessment methodology. Regarding physical risks, the company identifies acute and chronic climate hazards as defined in the European Taxonomy, including droughts, hydrological variability, extreme precipitation, floods, severe storms, strong winds, forest fires, extreme temperatures, and sea level rise. These hazards are compared with the location of the group's assets and activities, assessing their exposure and sensitivity based on geographical conditions and the characteristics of each facility. The short-, medium-, and long-term definitions are aligned with asset lifecycles, strategic planning, and the investment needs outlined in the adaptation plan. The exposure and sensitivity assessment considers the probability, magnitude, and duration of each hazard, relying on risk maps and climate projections developed under high-emission scenarios, primarily the IPCC SSP5-8.5 scenario, ensuring that physical risks are analyzed under conditions of greater climatic severity. Regarding transition risks and opportunities, Gestamp identifies transition events related to regulatory, technological, market, behavioral, and reputational changes. These events include the need to adopt low-emission technologies, variations in resource availability, increased energy and regulatory costs, the electrification of the automotive sector, and opportunities linked to circularity, energy efficiency, and new markets such as electric vehicles. Each event is assessed in the short, medium, and long term, with the long term defined as aligned with climate objectives exceeding 10 years and with public climate neutrality goals. Exposure to and sensitivity to these transition events are analyzed by considering their probability of occurrence, potential impact, and the duration of expected changes. This analysis incorporates financial, operational, reputational, compliance, and strategic variables, allowing for the identification of both risks, such as increased costs due to low-emission technologies or changes in demand, and opportunities, including attracting capital, competitive differentiation, circularity, and energy efficiency. The identification and assessment of these events are based on transition scenarios consistent with 1.5°C, primarily the scenarios of the International Energy Agency (NZE 2050 and SDS) used in the report. This allows for the evaluation of the alignment of the group's assets and activities with decarbonization pathways compatible with international commitments. Finally, Gestamp identifies those assets and activities that require significant efforts to align with the transition to a climate-neutral economy, especially energy- intensive processes or those dependent on materials whose supply may be disrupted by decarbonization pathways. These elements are addressed through adaptation measures outlined in the ESG strategy and energy efficiency plan, including process decarbonization, increased use of renewable energy, technological modernization, and the expansion of product solutions compatible with the EU Taxonomy criteria. 176
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E1 – 4: Targets related to climate change mitigation and adaptation As stated in section "E-1", Gestamp has ambitious decarbonisation targets aligned with the 2oC target. In this regard, the company addresses various aspects in its climate policies, supported by a detailed decarbonisation roadmap. The objectives that make up Gestamp's decarbonisation plan, aligned with a scenario below 2ºC, approved by SBTi and those included in Gestamp's ESG 23-25 15 Plan are: ESG Plan 23-25 Pillar Target/ Commitment Related policies 2025 Target 2025 Result 2024 Result Baseline year (BY) Road to neutrality Scope 2 emissions1 ESG Policy, Environmental Policy and Energy Policy The three policies establish commitments related to reducing emissions and increasing the use of renewable energy. n/a -53 % -51 % 2018 Scope 1 & 2 emissions3 -45% -48 % -42 % 2024 Renewable electricity4 62 % 69 % 50 % n/a Scope 35 emissions n/a 8 % 11% 2018 Scope 1, 2 & 3 emissions6 n/a 4 % 7.1% 2018 To find out how stakeholder perspectives have been taken into account in defining the objectives of the ESG Plan 23-25, see chapter "SBM-1: “Strategy, business model and value chain ”. The 2018 baseline year has been recalculated to include all new companies included in the consolidated scope. The objectives were defined taking into account the evolution of the group's emissions and consumption and their possible projections with respect to the baseline year. The emissions calculation methodology is described in section E1-6. In addition, the Gestamp Group will work to provide information on reduction targets in absolute terms. Under the new 2026–2030 plan, the decarbonisation targets have been aligned with a 1.5°C pathway and the full perimeter covered by this report has been included. 1 R e l a t i n g t o m a r k e t - b a s e d e m i s s i o n s . I t i s c a l c u l a t e d a s f o l l o w s : ( t C O2eq scope 2 year "n" - tCO2eq scope 2 baseline year) / tCO2eq scope 2 baseline year) x 100. 2 Net emissions. 3 As the ESG Plan target is more ambitious than the one set and approved by SBTi, only the 2025 Plan target is recorded. It is calculated as follows: [((tCO2eq scope 1 year "n" + tCO2eq scope 2 year "n") - (tCO2eq scope 1 baseline year + tCO2eq scope 2 baseline year)) / (tCO2eq scope 1 baseline year + tCO2eq scope 2 baseline year)] x 100. 4 Calculation method: (MWh consumed from renewable electricity / Total MWh consumed) x 100. 5 SBTi target. Calculation method: (tCO2eq scope 3 year "n" - tCO2eq scope 3 baseline year) / tCO2eq scope 3 baseline year) x 100. 6 Calculation method: [((tCO2eq scope 1 year "n" + tCO2eq scope 2 year "n" + tCO2eq scope 3 year "n") - (tCO2eq scope 1 baseline year + tCO2eq scope 2 baseline year + tCO2eq scope 3 baseline year)) / (tCO2eq scope 1 baseline year + tCO2eq scope 2 baseline year + tCO2eq scope 3 year "n")] x 100. 177 15The targets related to Gestamp’s strategy on circular economy are detailed in the chapter " E5 Resource use and circular economy".
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Following the presentation of the targets and commitments included in the ESG Plan 23-25, those corresponding to the ESG Plan 26-30 are included below, which continue the goals of the previous plan and reinforce the roadmap towards climate neutrality. The following table lists these objectives, structured in the following columns: Pillar, Target/Commitment, Link to policies, 2030 (target end year) and baseline year. The following table sets out the targets and commitments of the 26–30 ESG Plan: ESG Plan 26-30 Pilla r Target/ Commitmen t Definition Related policies Baseline year (BY) 2030 Target Road to neutrality Target Scope 2 emissions1 ESG Policy, Environmental Policy and Energy Policy All three policies establish commitments related to reducing emissions and increasing the use of renewable energy. 2024 Net zero2 Target Reduction of Scope 1 and 2 emissions 2024 -70% Commitment Energy efficiency and resource optimisation - Promotion Commitment Low-carbon logistics and procurement - Reduction 1 Relative to Market-based emissions. It is calculated as follows: (tCO2eq scope 2 year "n" - tCO2eq scope 2 baseline year) / tCO2eq scope 2 baseline year) x 100. 2 Net emissions. These targets encompass the full perimeter of this report. T h e n e w p l a n a l s o m a i n t a i n s t h e l o n g - t e r m g o a l s o f S c o p e 1 a n d 2 n e u t r a l i t y i n 2 0 4 5 and Net Zero in 2050, with an interim 2030 target that defines the operational trajectory (S1+2). To contribute to the 2050 commitment, given that a large share of emissions comes from raw materials (Scope 3, Category 1), two Scope 3 levers are prioritised: • L o w - c a r b o n l o g i s t i c s : w h e r e v e r t e c h n i c a l l y a n d e c o n o m i c a l l y f e a s i b l e , a d o p t i o n of alternative transport modes and logistics solutions with better e m i s s i o n s - r e d u c t i o n p e r f o r m a n c e ( e . g . r o u t e a n d l o a d o p t i m i s a t i o n , m o d a l s h i f t and the use of renewable fuels). • L o w - c a r b o n m a t e r i a l s : a p r o g r e s s i v e i n c r e a s e i n t h e u s e o f l o w - f o o t p r i n t s t e e l and aluminium, giving priority — where quality and cost are equivalent — to recycled or sustainably sourced materials. These actions are embedded in the Group’s sustainability strategy to minimise environmental footprint along the value chain and provide a basis for setting interim S c o p e 3 t a r g e t s . T h e c o m p a n y h a s a l s o w o r k e d o n s e t t i n g i n t e r n a l r a w - m a t e r i a l t a r g e t s in 2025, enabling a realistic roadmap towards the Net Zero objective, although it has not been made public. The monitoring of the objectives established in the ESG Plan 26-30 is carried out on a quarterly basis and the results are reported to the Sustainability Committee, the Board of Directors and the ESG Committee. For more information on the method of 178
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calculating emissions, see section "E1-6" as the calculation of how far targets are met is carried out with the information provided there. In 2026, the scope of the energy efficiency initiative will be expanded from 56 to 70 plants, and further reductions in consumption will be achieved thanks to the measures implemented in 2025. In addition, new targets have been set for 2026 based on potential energy efficiency actions to be implemented at each plant, as shown in the table below: Total (MWh) Avoided emissions (tCO2e) 2026 Target 45,000 12,000 In 2026, Gestamp will continue to consolidate this initiative, reaching a high level of maturity at plants in Europe and China and implementing simultaneous improvements at plants in North and South America. To meet its decarbonisation commitments, particular attention will be paid to those plants where the implementation of energy efficiency measures has the greatest impact on reducing CO₂e emissions. Energy efficiency assessments will continue to be rolled out in 2026, with a special f o c u s o n t h e A s i a n a n d U S d i v i s i o n s , i n o r d e r t o i d e n t i f y n o n - s t a n d a r d b e s t p r a c t i c e s . A c t i o n p l a n s a d d r e s s i n g t h e s e n o n - s t a n d a r d p r a c t i c e s w i l l d i r e c t l y l e a d t o a s i g n i f i c a n t reduction in energy use and emissions for the Group. E1 – 5: Energy consumption and mix. All Gestamp production processes need a source of energy in order to function. Therefore, all the different sources of energy consumed at the company’s facilities are tracked: Electricity, natural gas, diesel and LPG. The distribution of overall energy consumption is divided into 64% electricity, 32% natural gas and 4% other fuels. Total energy consumption and sources used The company reports its energy consumption by fuel type in Megawatt-hours (MWh), including non-renewable sources such as natural gas, liquefied petroleum gas (LPG) and diesel. It also reports total energy consumption. 179
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Energy consumption and mix Energy consumption and mix 1 2025 2024 Fuel consumption from crude oil and petroleum products (MWh) 74.190 96.263,2 Fuel consumption from LPG (MWh) 70.993 90.815,9 Fuel consumption from diesel (MWh) 3.196 5.447,3 Natural gas consumption (MWh) 687.555 636.001,3 Electricity consumption from fossil fuels (MWh) 339.284 388.003,2 Total fossil energy consumption (MWh) 1.101.028,8 1.120.267,7 Amount of fossil fuels in energy consumption (%) 53 % 55 % Consumption from nuclear sources (MWh) 65.715,1 107.937,3 Share of energy consumption from nuclear sources (%) 3 % 5 % Electricity consumption purchased or acquired from renewable sources (MWh)1 848.133,1 798.239,2 Self-generated electricity consumption (MWh)2 44.894,6 27.218,1 Total renewable energy consumption (MWh) 893.027,7 825.457,3 Total renewable electricity consumption (MWh) 72 % 69 % Renewable sources in total consumption (%) 43 % 40 % Total energy consumption (MWh) 2.059.771,6 2.053.662,3 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. The residual mix has been used to identify the different sources from which electricity is supplied. Where this figure was not available, the following order of priority was applied (from highest to lowest): supplier residual mix, country residual mix, supplier mix, country mix. The database published by AIB, International Tracking Standard, was used as the source for country residual mixes. 1I n 2 0 2 5 , t h e G r o u p h a d n o d i r e c t c o n s u m p t i o n o f f u e l s f r o m c o a l a n d c o a l - d e r i v e d p r o d u c t s , n o r o f r e n e w a b l e f u e l s such as biomass, hydrogen or biogas. However, the latter is currently being studied in order to meet its d e c a r b o n i s a t i o n t a r g e t s ( E 1 - 6 ) . T h e p e r c e n t a g e c o r r e s p o n d i n g t o t h e p u r c h a s e o f r e n e w a b l e e l e c t r i c i t y w o u l d b e 5 3 % of total electricity consumption. 2 T h e s o u r c e o f s e l f - g e n e r a t e d e l e c t r i c i t y i s s o l a r p h o t o v o l t a i c e n e r g y . T h e s o u r c e o f s e l f - g e n e r a t e d e l e c t r i c i t y i s s o l a r p h o t o v o l t a i c e n e r g y . Energy Intensity The company’s activity falls under manufacturing section C (C29.32), as set out in Annex I, and under section E in the case of Gescrap (E38.32), of Regulation (EC) No 1893/2006 of the European Parliament and of the Council. In this regard, the Group discloses information on total energy consumption per net revenue: Energy intensity by income 2025 2024 2025-2024 (%) Total energy consumption (MWh) 2.059.771,6 2.053.662,3 — % Net income (€ million) 11.348,6 12.001,0 100 % Energy consumption by income (MWh/ €M) 181,5 171,1 6 % The information for 2024 has been restated to report 100% of the indicator’s perimeter so that it is comparable with the current reporting period In addition, the group is considering disaggregating the information on renewable energy into self-generated energy and purchased electricity to avoid double counting. 180
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E1 – 6: Gross scope 1, 2 and 3 GHG emissions and total GHG emissions IIn recent years, despite opening more production plants and introducing hot stamping, which is more intensive in terms of energy use, Gestamp has managed to reduce CO2 emissions (relatively speaking) by improving environmental management and optimising production processes. Gross Emissions16 2025 2024 2024-25 2018 2018-25 tCO2eq % tCO2eq % % tCO2eq % Scope 1 GHG emissions (tCO2eq) Scope 1 emissions 169.352 1,5 % 195.655 1,4 % -13 % 287.663 -41 % Natural gas 141.001 1,2 % 158.971 1,2 % -11 % 233.726 -40 % LPG 25.190 0,2 % 27.214 0,2 % -7 % 40.011 -37 % Diesel 857 — % 6.495 — % -87 % 9.549 -91 % Others 2.304 — % 2.976 — % -23 % 4.375 -47 % Scope 2 GHG emissions (tCO2eq) Location-based Scope 2 emissions 438.376 3,9 % 447.577 3,3 % -2 % - - Market-based Scope 2 emissions 246.221 2,2 % 255.706 1,9 % -4 % 523.386 -53 % Significant scope 3 GHG emissions (tCO2eq) Total indirect GHG emissions 10.925.677 96 % 13.051.512 96,7 % -16 % 10.122.361 8 % Category 1 - Acquisition of goods and services1 10.247.458 90 % 12.137.624 89,9 % -16 % 9.044.810 13 % Category 2 - Capital goods 242.676 2 % 425.839 3,2 % -43 % 474.618 -49 % Category 3 - Activities related to energy production 158.185 1 % 170.311 1,3 % -7 % 201.040 -21 % Category 4 - Upstream Transport and Distribution1 188.723 2 % 98.495 0,7 % 92 % 201.584 -6 % Category 5 - Waste generated during operation2 6.451 — % 31.380 0,2 % -79 % 37.699 -83 % Category 6 - Business trips 9.584 — % 22.758 0,2 % -58 % 34.441 -72 % Category 7 - Employees' home/work commutes 40.995 — % 35.774 0,3 % 15 % 46.441 -12 % Category 8 - Assets leased by the organization 30.224 — % 51.536 0,4 % -41 % 47.227 -36 % Category 9 - Downstream Transport and Distribution 0 — % 0 — % — % 0 — % 181 16EMPL-1
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Category 10 - Processing of sold products 0 — % 0 — % — % 0 — % Category 11 - Use of products sold by the organization 0 — % 0 — % — % 0 — % Category 12 - Waste derived from products sold 3 0 — % 0 — % — % 0 — % Category 13 - Assets leased to the organization 0 — % 0 — % — % 0 — % Category 14 - Franchises 0 — % 0 — % — % 0 — % Category 15 - Investments2 1.381 — % 77.796 0,6 % -98 % 34.501 -96 % Total GHG emissions (tCO2eq) Location-based 11.533.405 13.694.745 -16 % - — % Market-based 11.341.250 13.502.874 -16 % 10.933.410 4 % The information for the years 2018 and 2024 has been restated to report 100% of the indicator’s perimeter so that it is comparable with the current reporting period. Likewise, quantitative data on emissions milestones and target years are not attached as this is considered confidential information for the business strategy. For Scope 3 emissions, primary sources are used except for Categories 4, 7 and 8. 1 Emissions relating to raw materials (Cat. 1) have been recalculated due to an update of the emission factors. There is also an increase in Cat. 4 due to the integration of Gescrap into the perimeter. 2 The reduction in category 5 is due to the integration of Gescrap into the perimeter: emissions from scrap treatment are removed from this category as they are now included in Scope 1 and 2. Likewise, the inclusion of e q u i t y - a c c o u n t e d c o m p a n i e s i n t h e r e p o r t i n g p e r i m e t e r r e s u l t s i n a d e c r e a s e i n c a t e g o r y 1 5 ( i n v e s t m e n t s ) . 3 This category is no longer reported because it is not required in our case. Gross Scope 1 GHG emissions are reported in tCO2eq, broken down by type of combustion source (Natural Gas, LPG and Diesel). These emissions represent 1.5% of the organisation's overall emissions. It should be noted that the percentage of Scope 1 GHG emissions from regulated emissions trading schemes is not reported, as Gestamp is not subject to these schemes in any of the three scopes. Scope 2 GHG emissions represent 2.2% of overall emissions (market-based). Furthermore, Scope 3 emissions make up 96.4% of the entity's overall emissions (market-based). Specifically, the most significant category is category 1, which a c c o u n t s f o r 9 0 . 4 % ( o f t h e t o t a l m a r k e t - b a s e d ) . T h e r e f o r e , t h e p r e v i o u s a n d subsequent sections of this chapter allude to the relevance of the circular economy in the context of the decarbonisation strategy. The integration of Gescrap into the Group’s perimeter and emissions inventory has led to an increase in Scope 1 emissions (by 6%) and Scope 2 emissions (by 1%). However, this integration has also resulted in a reduction in Scope 3 emissions, both those associated with scrap management (by approximately 44% in this category) and those included in category 15 (investments). Furthermore, emissions have slightly increased in the remaining categories, accounting for less than 0.32% of Scope 3. 182
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Furthermore, Gescrap enables the recovery and reintroduction into steel manufacturing of the scrap generated by Gestamp, increasing the recycled content used by steel makers. This reduces the emissions associated with purchased raw materials, reported in Scope 3 Category 1, by lowering the need for steel produced from virgin raw materials. Although agreements have already been signed with v a r i o u s s t e e l m a k e r s f o r t h e s u p p l y o f l o w e r - c a r b o n s t e e l , t h e d i r e c t i m p a c t o n C a t e g o r y 1 w i l l b e r e f l e c t e d o n c e a c t u a l d e l i v e r i e s o f t h i s l o w - e m i s s i o n s t e e l b e g i n . 183
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GHG emissions intensity GHG intensity as a percentage of net income 2025 2024 2024-2025 (%) Total location-based emissions 11.533.405 13.694.746 -16 % Total market-based emissions 11.341.250 13.502.875 -16 % Total net income (€ million)1 11.349 12.001 -5 % Total location-based emissions / Total net income (tCO2eq/€M) 1.016 1.141 -11 % Total market-based emissions / Total net income (tCO2eq/€M) 999 1.125 -11 % The information for 2024 has been restated to report 100% of the indicator’s perimeter so that it is comparable with the current reporting period. A s s h o w n i n t h e t a b l e s , t h e r e h a s b e e n a s i g n i f i c a n t d e c r e a s e i n t h e e m i s s i o n s - i n t e n s i t y indicator as a result of the company’s decarbonisation strategy. In addition, the CO2e Emissions Index (defined as tCO2e Scope 1 and 2 / net revenue) is used as a tool to assess performance in relation to emissions from production processes. In 2025, this i n d e x w a s r e d u c e d b y 3 % t h a n k s t o t h e i m p l e m e n t a t i o n o f e n e r g y - e f f i c i e n c y m e a s u r e s a n d t h e p r o c u r e m e n t o f r e n e w a b l e - o r i g i n e n e r g y . GHG intensity as a percentage of net income 2025 2024 2024-2025 (%) Scope 1 and 2 emissions (tCO2eq/M€) 36,46 37,64 (3) % The information for 2024 has been restated to report 100% of the indicator’s perimeter so that it is comparable with the current reporting period. Calculation made on market-based emissions. Since 2006, the carbon footprint has been tracked quarterly at all production sites, using the procedures of the GHG Protocol and the IPCC. The emission factors used for fossil fuels are from DEFRA, while those for electricity are requested directly from the supplier of each plant; if such specific data is lacking, the country's electricity emission factor provided by the International Energy Agency (IEA) is used since they are the most representative of the market. For Scope 3, sources from DEFRA, CEDA and Sphera are combined for aluminium and steel consumption. The values used are the most recently published values. For Scope 3, categories 1 (purchased goods and services) and 12 (end-of-life treatment of sold products emissions) of the GHG Protocol account for the largest number of emissions in tCO2e. Emissions for each significant category are updated each year based on current activity data. The entire inventory is reviewed every three years or in response to significant events. Following the methodology in section 6.4 of the Scope 3 Accounting and Reporting Standard regarding intermediate product companies, the applicability of downstream Scope 3 categories depends on whether the products sold by the reporting company are final products or intermediate products. In certain cases, the eventual end use of the intermediate products sold may be unknown, in which case companies may 184
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disclose and justify the exclusion of downstream emissions from categories 9, 10 and 11 in the report. Likewise, there are no franchises within the organisation, so category 14 is not applicable. Similarly, we do not lease our facilities to third parties for their operation, which is the reason for excluding category 13. One of the channels in the renewable energy supply strategy involves the signing of long-term power purchase agreements (PPAs). Gestamp does not use carbon credits in the calculation of its emissions for 2025. In the calculation of CO2 emissions, biogenic emissions from combustion or biodegradation of biomass are not taken into account as they are not significant for the final emissions calculation. The company does not make significant use of biogenic fuels (such as solid biomass, biogas or biofuels with a relevant biogenic content) in its production processes or in the energy supply associated with its operations. Consequently, the potential volume of biogenic emissions is considered immaterial and d o e s n o t m a t e r i a l l y a f f e c t t h e g r e e n h o u s e - g a s e m i s s i o n s i n v e n t o r y , i n l i n e w i t h t h e materiality criteria set out in the GHG Protocol for corporate inventories. CH4 and N2O emissions are included, if available. E1 – 7: GHG removals and GHG mitigation projects financed through carbon credits Gestamp is strengthening its commitment to decarbonisation by reducing emissions in its operations and mitigating emissions across its value chain. The company plans to e x p a n d G H G r e m o v a l p r o j e c t s a c r o s s a l l l i f e - c y c l e s t a g e s a n d , i n f u t u r e , w i l l a l s o a s s e s s carbon storage initiatives. The new decarbonisation plan provides for the offsetting of up to 10% of residual emissions, in line with sector practices and Net Zero standards, under which carbon credits are applied only to emissions that cannot be reduced internally. A l t h o u g h o f f s e t t i n g i s p a r t o f t h e l o n g - t e r m s t r a t e g y , G e s t a m p h a s n o t y e t d e f i n e d a specific credit-procurement plan, which will be reviewed as it progresses towards climate neutrality. I n p a r a l l e l , t h e c o m p a n y i s d e v e l o p i n g a n d f i n a n c i n g c l i m a t e - m i t i g a t i o n p r o j e c t s , including the generation of Energy Saving Certificates (ESCs). To ensure rigour and traceability, it is working with an external consultancy and is implementing a blockchain system to register and verify these projects. Gestamp also assesses initiatives with a dual impact: carbon reduction and social b e n e f i t s i n l o c a l c o m m u n i t i e s . T h e s e i n c l u d e n a t u r e - b a s e d p r o j e c t s s u c h a s reforestation, which help restore ecosystems and generate local social value. 185
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E1-8: Internal carbon pricing system. The company does not currently apply internal carbon pricing systems. However, its possible implementation in the coming years is being evaluated, with the aim of strengthening the integration of climate risk into strategic decision-making. As part of this process, the company is studying the feasibility of introducing a shadow carbon price to quantify the economic impact and commitments related to risks, new investments, the net present value of projects and the cost-benefit ratio of various initiatives. Despite these advances, in 2025 the analysis is still in the exploratory phase and there is not yet sufficient information available to define a formal mechanism for internal carbon pricing or for its systematic incorporation into financial or operational processes. The company will continue to make progress in this area with the aim of establishing a solid framework for its future implementation. 186
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II. Pollution (E2) List of IRO materials associated with the Pollution standard (E2) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to pollution: Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain Air pollution CON1 I - Impact on the health of nearby communities and workers resulting from reduced air quality caused by NOx, SOx and VOC emissions. Potential • Upstream • Downstream • ESG Policy • Conflict Minerals Policy • ESG requirements for suppliers • Supplier approval that includes aspects related to pollution. • Training for suppliers with low scores in the homologation assessment. • ESG audits of suppliers. Yes Water pollution CON2 R - Financial sanctions and loss of reputation resulting from potential uncontrolled water discharge. n/a Upstream • ESG Policy • Conflict Minerals Policy • ESG requirements for suppliers • Supplier approval that includes aspects related to pollution. • Training for suppliers with low scores in the homologation assessment. • ESG audits of suppliers. Yes I: Impact, R: Risk, O: Opportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers (including pollution). Furthermore, it interacts with suppliers if any significant issues are identified. For more information, see section "G1 – 2: Supplier Relationship Management". On the other hand, although no significant IROs related to its own operations have been identified, the ESG and Environmental policies also address these aspects. 2 For more information on the specific objectives set, see chapter "E2 – 3: Pollution-related goals". These objectives are related to the supplier approval process, as this is where the incidence and risk are identified. The monitoring of water, air and soil pollution is key to any environmental management system. Gestamp uses a range of management systems to monitor the uncontrolled release of toxic pollutants, harmful emissions and industrial waste, thus avoiding significant degradation of natural environments and the impact on water, air and soil quality. 187
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E2 – 1: Policies related to pollution. As the value chain has been identified as a material issue in double materiality analysis, this disclosure requirement does not respond to Gestamp's own operations, rather it refers to Gestamp's management of its suppliers. The Group has two policies for upstream pollution management in its value chain, which help to manage material pollution-related impacts, risks and opportunities: ESG Policy CON1 and CON2 The ESG Policy establishes the principles on which Gestamp builds its strategy and performance in environmental, social and governance matters ("ESG"). These principles are aligned with its business objectives, corporate culture and the United Nations 2030 Agenda. Furthermore, taking into account the interests of key stakeholders in climate-related aspects, Gestamp commits to the proper management of natural resources (such as water, soil or air), aware of the importance of conserving them for the well-being of society not only in its own activity, but also in its commercial relationships. To meet this objective, Gestamp has established 5 principles linked to pollution: • Efficient use of natural resources: aware that natural resources (such as soil, forests, water, etc.) are limited and their conservation is fundamental for society, the company contributes to a more rational and efficient use of these resources in the design, procurement and production phases. • Focus on circular economy: working to create circular business models in the industry; focusing on the manufacture of automotive components with a high content of recycled material. • Biodiversity protection: although the direct environmental impact of the company’s operations is limited, Gestamp believes, due to the complexity of the supply chain in the automotive industry, that it is necessary to nurture and protect natural assets, ecosystems and biodiversity throughout the entire value chain. • Responsible product design, manufacturing and use : ensuring that all the automotive component development phases take into account reduced environmental impact. • Collaborative value chain: conveying the highest ESG standards and commitments to suppliers, to achieve a value chain aligned with sustainability principles. Working to create a collaborative ecosystem in the automotive industry, geared towards an industry that is more efficient in the use of resources and waste management, less polluting, more respectful of biodiversity, decarbonisation and the circular economy. This policy applies in all the regions where Gestamp carries out its activity, and these commitments extend across its entire value chain. Implementing the commitments set 188
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out in this policy rests with ESG Management and ultimately with the Sustainability Committee. This policy is available to interested parties on the Group's corporate website. For more information see: ESG Policy Conflict Minerals Policy CON1 and CON2 Gestamp's Conflict Minerals Policy has been established with the primary aim of ensuring that neither direct nor indirect contributions are made to the financing of armed conflicts or the violation of human rights, a matter widely required by Gestamp Group's key stakeholders. This policy requires companies to conduct strict due diligence in their supply chains, ensuring that the minerals used in their products do not come from conflict zones. In doing so, it promotes greater transparency and corporate accountability, in line with international ethical and legal principles. However, beyond its impact in the social and human rights sphere, the Conflict Minerals Policy in place also has significant implications for environmental protection. Mining activities in conflict zones are often carried out without adequate environmental management measures, resulting in severe degradation of the natural environment. By avoiding financing these operations, companies not only fulfil their social responsibilities, but also contribute to reducing environmental damage associated with illegal, unregulated mining. As a result, the adoption of this policy not only mitigates the risks of complicity in human rights abuses, but also plays a crucial role in environmental conservation. Discouraging irresponsible mining equates to reduced soil, water and air pollution, thus protecting local ecosystems and promoting more sustainable development. As such, the Conflict Minerals Policy stands as a comprehensive instrument that addresses both the social and environmental aspects of corporate sustainability. With this policy, Gestamp: Through this policy, Gestamp: • It is committed to avoiding the sourcing and use of minerals that could finance or benefit armed groups in the Democratic Republic of the Congo and neighbouring countries, in line with the objective of cutting off the financial flows that fuel conflicts. • It expects its suppliers to adopt equivalent measures, extend them throughout their s u p p l y c h a i n s a n d e n s u r e t h a t m a t e r i a l s a r e s o u r c e d o n l y f r o m c o n f l i c t - f r e e o r i g i n s . • It has implemented procedures for gathering information using the CMRT (Conflict Minerals Reporting Template) and EMRT templates, tools aligned with international standards that are used to trace the origin of minerals and ensure responsible sourcing. • It has set up an internal working group responsible for monitoring suppliers’ performance on conflict minerals, managing risks and ensuring ongoing compliance with the policy. 189
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• It declares that this policy, approved by the Board of Directors, applies to all companies within the Gestamp Automoción S.A. group, ensuring a consistent and c r o s s - c u t t i n g a p p r o a c h . This policy is available to interested parties on the Group's corporate website. For more information see: Conflict Minerals Policy It also has an ESG compliance procedure for suppliers, which sets out a number of environmental requirements such as management systems with a focus on prevention, and the promotion of initiatives to protect the environment, as well as complying with environmental legislation. ESG requirements for suppliers CON1 and CON2 All suppliers and subcontractors of the Gestamp Group must comply with this document, regardless of the country or territory in which these suppliers and employees perform their services, across a range of areas. It specifically refers to environmental protection by: • Reducing greenhouse gas emissions: suppliers must monitor greenhouse gas emissions from their activities and, where possible, devise a decarbonisation plan to reduce greenhouse gas emissions throughout their value chain, use renewable energy and make efficient use of energy and fuel. This has already been addressed in the ESRS E1 on climate change. • Air, water and soil quality: suppliers must prevent pollution of the air, water and soil through continuous monitoring and reducing the use of pollutants. In the event of environmental damage, suppliers undertake to use any means required to restore the situation to that prior to the event that caused the impact. • Responsible chemical management: suppliers must identify and minimise or eliminate the use of restricted substances in manufacturing processes and finished products to ensure regulatory compliance. For more information see: ESG requirements for suppliers However, these policies and documents do not include specific information on the pollutants or substances covered. For more information about Gestamp's management of its suppliers, see G1-2. 190
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E2 – 2: Actions and resources related to pollution. Since the impact and risk identified are related to the value chain, as indicated at the beginning of the chapter, the information responding to the E2 disclosure requirement included in this section does not relate to Gestamp's own operations, rather it focuses on how the company manages its relationship with its suppliers. For this reason, and due to events, that could potentially occur, Gestamp has corporate supply chain management systems, procedures and standards that apply to the entire Group, which cover aspects of pollution prevention. For more information see chapter ‘G1-2’. These systems address specific aspects related to suppliers and pollution, including environmental policies, environmental management systems (and whether these are ISO 14001 certified), the monitoring of air emissions, discharges and waste; whether the company has received disciplinary sanctions for environmental non- compliance and whether it has measures in place to prevent environmental non- compliance. However, Gestamp does not have or disclose the remediation actions or resources allocated related to air or water pollution events from its suppliers. E2 – 3: Pollution-related goals. Since the impact and risk identified are related to the value chain, as indicated at the beginning of the chapter, the information responding to the E2 disclosure requirement included in this section does not relate to Gestamp's own operations, rather it focuses on its suppliers. Gestamp does not have measurable, results-oriented targets for pollution. However, Gestamp has specific targets related to supplier management, included within our supply chain pillar, which ensure the monitoring of the effectiveness of its policies. 191
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Pilar Target/Commitment Related policies/ systems 2025 Goal 2025 Result 2024 Result RESPONSIBLE SUPPLY CHAIN Percentage of suppliers assessed in ESG1. Supplier approval system (G1-2) 70 % 77 % 70 % Percentage of suppliers that have obtained more than 50% in the ESG1 score. 70 % 72 % 68 % Number of training sessions provided to low-performing ESG2 suppliers. 4 4 3 Supplier audits that include ESG3 aspects. 100 % ~100% 66 % Inclusion of ESG specifications in contracts with suppliers. Made Made In development4 To find out how stakeholder perspectives have been taken into account in defining the objectives of the ESG Plan 2023-2025, see chapter "SBM-1:“Strategy, business model and value chain”. The scope of the objectives is Gestamp Group. The scope of the objectives is Gestamp Group. The definition of the objectives was carried out taking into account the evolution of the indicators and their possible projections based on planned work. 1 Information obtained from the supplier approval system. 2 Accounting for the purchasing area. 3 Quality audits in which ESG aspects have been reviewed. 4 Gestamp has worked during 2024 on the inclusion of new ESG specifications in its contracts with suppliers. The following table outlines the targets and commitments of the ESG 26-30 Plan: Pilar Target/Commitment Definition Related policies/systems 2030 RESPONSIBLE SUPPLY CHAIN Target Percentage of suppliers evaluated and published on GoSupply. ESG Policy, Purchasing Policy, ESG Requirements for Suppliers and GoSupply Platform The three policies establish commitments related to reducing emissions and increasing the use of renewable energy. (G1-2) 80 % Target ESG training sessions for suppliers with low scores and high turnover. Target number of training sessions per year. 4 Commitment Implementation of a Due Diligence process in the supply chain n/a 192
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III.Water and marine resources (E3) List of material IROs associated with the Water and Marine Resources standard (E3) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to water and marine resources: Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain Water ARM1 I - Intensive water consumption by upstream agents in the value chain reduces the availability of this resource for other essential uses and exacerbates scarcity in drought- affected areas. Actual Upstream • ESG Policy • Conflict Minerals Policy • ESG requirements for suppliers • Supplier approval that includes aspects related to water. • Training for suppliers with low scores in the homologation assessment. • ESG audits of suppliers. Yes I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers (including those related to water). Furthermore, it interacts with suppliers if any significant issues are identified. For more information, see section "G1 – 2: Supplier Relationship Management". 2 For more information on the specific objectives established, see chapter "E3 – 3: Goals related to water and marine resources". These objectives are related to the supplier approval process, as this is where the impact is identified. Furthermore, although no significant IROs related to our own operations have been identified, the ESG and Environmental policies also address these aspects. The sustainable management of water and marine resources is essential for the preservation of ecosystems and human well-being. Water is a limited natural resource for which Gestamp has implemented conservation and efficiency plans. Its use in production plants is primarily for sanitation, except in those plants where surface treatment processes are carried out, such as painting or galvanizing of parts, or hydroforming processes, or in the hot stamping process. Water recirculation processes are in place in all of these areas. 193
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E3 – 1: Policies related to water and marine resources. Because the identification of material IROs is through the value chain, the information included in this section, as in the " E2. Pollution" section, which responds to the E3 disclosure requirement, does not relate to Gestamp's own operations, but focuses on the management carried out by Gestamp on its suppliers. The Group has two policies relating to water management in its value chain, which support the management of material impacts, risks and opportunities, and the design of products and services to address water-related issues and the conservation of marine resources: ESG Policy ARM1 The ESG Policy establishes the principles on which Gestamp builds its strategy and performance in environmental, social and governance matters ("ESG"). These principles are aligned with its business objectives, corporate culture and the United Nations 2030 Agenda. Gestamp is committed to the proper management of natural resources (such as water) aware of the importance of their conservation for the well-being of society, not only in the course of its own activity, but also in its commercial relations. To meet this objective, Gestamp has established 4 principles associated with the management of water and marine resources: • Efficient use of natural resources: aware that natural resources (such as soil, forests, water, etc.) are limited and their conservation is fundamental for society, the company contributes to a more rational and efficient use of these resources in the design, procurement and production phases. • Biodiversity protection : although the direct environmental impact of the company’s operations is limited, Gestamp believes, due to the complexity of the supply chain in the automotive industry, that it is necessary to nurture and protect natural assets, ecosystems and biodiversity throughout the entire value chain. • Responsible product design, manufacturing and use : ensuring that all the automotive component development phases take into account reduced environmental impact. • Collaborative value chain: conveying the highest ESG standards and commitments to suppliers, to achieve a value chain aligned with sustainability principles. Working to create a collaborative ecosystem in the automotive industry, geared towards an industry that is more efficient in the use of resources and waste management, less polluting, more respectful of biodiversity, decarbonisation and the circular economy. This policy applies in all the regions where Gestamp carries out its activity, and these commitments extend across its entire value chain. Implementing the commitments set out in this policy rests with ESG Management and ultimately with the Sustainability Committee. For more information see: ESG Policy 194
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Conflict Minerals Policy ARM1 Gestamp’s Conflict Minerals Policy aims to ensure that the company does not directly or indirectly contribute to the financing of armed conflicts or to human rights violations. This policy is based on international principles of responsible sourcing and requires strict due diligence across the supply chain to ensure that the minerals used in i t s p r o d u c t s d o n o t o r i g i n a t e f r o m c o n f l i c t - a f f e c t e d o r h i g h - r i s k a r e a s . T h i s i s h o w Gestamp promotes transparency and corporate responsibility in line with international standards such as those set out by the SEC and the OECD. I n a d d i t i o n t o i t s s o c i a l a n d h u m a n - r i g h t s d i m e n s i o n , t h e p o l i c y h a s s i g n i f i c a n t environmental implications, as mining in conflict zones is often carried out without environmental controls, causing severe degradation of the surrounding area. By avoiding sourcing from such operations, companies not only meet their social responsibilities but also help reduce the environmental damage associated with illegal and unregulated mining. Consequently, this policy acts as a comprehensive instrument that protects both human rights and the environment. By discouraging irresponsible mining, it reduces soil, water and air pollution, protects ecosystems and supports a more sustainable model. Through this policy, Gestamp: • It is committed to avoiding the sourcing and use of minerals that could finance or benefit armed groups in the Democratic Republic of the Congo and neighbouring countries, in line with the objective of cutting off the financial flows that fuel conflicts. • It expects its suppliers to adopt equivalent measures, extend them throughout their supply chains and ensure that materials are sourced only from c o n f l i c t - f r e e o r i g i n s . • It has implemented procedures for gathering information using the CMRT (Conflict Minerals Reporting Template) and EMRT templates, tools aligned with international standards that are used to trace the origin of minerals and ensure responsible sourcing. • It has set up an internal working group responsible for monitoring suppliers’ performance on conflict minerals, managing risks and ensuring ongoing compliance with the policy. • It declares that this policy, approved by the Board of Directors, applies to all companies within the Gestamp Automoción S.A. group, ensuring a consistent a n d c r o s s - c u t t i n g a p p r o a c h . For more information see: Conflict Minerals Policy 195
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It also has an ESG compliance procedure for suppliers, which sets out a number of environmental requirements such as management systems with a focus on prevention, and the promotion of initiatives to protect the environment, as well as complying with environmental legislation. For more information see chapter ‘G1-2’. ESG requirements for suppliers ARM1 All suppliers and subcontractors of the Gestamp Group must comply with this document, regardless of the country or territory in which these suppliers and employees perform their services, across a range of areas. It specifically refers to environmental protection by: • Resource saving: responsible consumption of natural resources, including water consumption. • Air, water and soil quality: suppliers must prevent pollution of the air, water and soil through continuous monitoring and reducing the use of pollutants. In the event of environmental damage, suppliers undertake to use any means required to restore the situation to that prior to the event that caused the impact. • Responsible chemical management : suppliers must identify and minimise/ eliminate the use of restricted substances in manufacturing processes and finished products to ensure regulatory compliance. For more information see: ESG requirements for suppliers However, these policies and documents do not specifically mention areas at water risk. For more information about Gestamp's management of its suppliers, see G1-2. E3 – 2: Actions and resources related to water and marine resources Since the impact and opportunity identified are related to the value chain, as mentioned at the beginning of the chapter, the information responding to the E3 disclosure requirement detailed in this section does not relate to Gestamp's own operations, rather it focuses on the management of its suppliers. For this reason, Gestamp has corporate supply chain management systems, procedures and standards that apply to the entire Group, which include pollution prevention measures. For more detail, see chapter "G1-2". Within this framework, the supplier approval process is a key element in assessing the supply chain’s capacity in terms of water management. Aspects analysed include, among others, the existence of an environmental management system (including ISO 14001 certification), the monitoring of water consumption and discharges, as well as a n y s a n c t i o n s o r f i n e s f o r e n v i r o n m e n t a l n o n - c o m p l i a n c e a n d t h e p r e v e n t i v e m e a s u r e s a d o p t e d t o a v o i d s u c h n o n - c o m p l i a n c e . Moreover, although it falls outside the aspects identified as material in the double materiality analysis, Gestamp considers it important to contextualise its performance 196
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and management in relation to water. This will ensure that the results of the analysis are better understood. I n t h i s r e g a r d , i n 2 0 2 5 G e s t a m p b e g a n w o r k i n g w i t h W a t e r p l a n , a w a t e r - r i s k d e c i s i o n - s u p p o r t p l a t f o r m , t o s t r e n g t h e n t h e i d e n t i f i c a t i o n a n d a s s e s s m e n t o f w a t e r - r e l a t e d r i s k s b y c o m b i n i n g s a t e l l i t e a n d p u b l i c i n f o r m a t i o n w i t h c l i m a t e a n d hydrological models. For its own operations, a pilot was carried out at 10 plants located in countries with water stress, analysing external hazards (for example, scarcity a n d f l o o d i n g ) a n d f u t u r e r i s k p r o j e c t i o n s , i n o r d e r t o d e v e l o p a s i t e - b y - s i t e r i s k m a t r i x and map and guide the prioritisation of actions. At the same time, a pilot was conducted with suppliers to assess water risks that could affect business continuity: external risk analysis was completed for two suppliers and, for one of them, this information was combined with operational data provided by the supplier to identify vulnerabilities; improvement proposals were then made for that supplier. With this approach, Gestamp is making progress in identifying risks and d e f i n i n g w a t e r - m a n a g e m e n t a c t i o n s , c o m p l e m e n t i n g t h e a n a l y s i s w i t h c h a r a c t e r i s a t i o n of water consumption at production plants and its main uses. In general terms, water consumption at production plants is primarily for sanitary use. In a minority of plants where surface treatment processes take place, such as painting or galvanising parts, or hydroforming processes, there is an industrial use of water. Water consumption by source Water extraction by source (m3) 2025 2024 Public Network 1.740.320,55 1.873.921,46 Superficial — — Underground 214.303,84 224.399,27 Total 1.954.624,39 2.098.320,73 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. To monitor the evolution of water consumption, we use the Water Consumption Index, WCI, defined as cubic metres of water consumed/€100,000 of added value. This index experiences greater variation depending on the production processes to which the parts are subjected, being higher in cases where the process requires greater water consumption, such as surface treatments, hydroforming, etc., which is directly dependent on the projects being worked on with the client at any given time. Evolution of the Water Extraction Index 2025 2024 Public Network Water Extraction Index (m3 water extracted/ 1,000 euros of added value) 50 53 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. The painting of parts, which will eventually be placed on the outside of vehicles, involves certain quality requirements that make it essential to frequently change the baths on the cataphoresis lines. As such, there is a considerable increase in water 197
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consumption. Conversely, the baths can be reused in the treatment of structural parts, which entails a low water consumption and a reduction in the WCI. On the other hand, it is estimated that 10% of water consumption evaporates in production processes and other losses, so 90% of water consumption would be considered as discharge. Most of this discharge is carried out in a controlled way into the sewer system where adequate treatment is received through wastewater treatment plants. In addition, very strict controls are applied to ensure that the quality of the water discharge is sufficient to meet all legal requirements in accordance with the applicable regulatory laws depending on the country and to minimise any possible impact. Specifically, all plants with painting lines have physical-chemical treatment for wastewater. Water consumption in water stress areas (m3) Reference level 2025 2024 India Extremely high 56.678 48.820 Mexico High 125.339 148.571 Portugal High 39.606 32.661 Spain High 236.879 229.685 Morocco High 12.822 13.765 Turkey Extremely high 191.279 205.341 Bulgaria High 1.825 1.959 China High 374.402 450.545 Total 1.038.830 1.131.347 % of total extraction 53 % 54 % The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. Gestamp is implementing water monitoring systems to reduce its consumption and promote its recirculation and recycling in plants with water-intensive production processes and in regions with water stress: • In plants with processes such as hydroforming or painting of parts using, for example, closed-loop systems in which water is reused for long periods of time. • In geographies where the risk of water stress is high, through water recycling systems such as in the case of the Chennai plant, India, where they use water treated in the water treatment plant for gardening purposes. In addition, since 2015, the CDP questionnaire has been completed, which deals with water issues. This publicly discloses the company’s water footprint and provides information on the different aspects in managing this resource. 198
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E3 – 3: Goals related to water and marine resources. As water is a material aspect for the value chain, this disclosure requirement does not respond to Gestamp's own operations but focuses on its suppliers. Nevertheless, Gestamp established specific targets for managing its suppliers to ensure their policies are monitored and remain effective. For more information see chapter ‘E2-3’. Additionally, within the ESG 23-25 Plan, two voluntary goals are defined in relation to the use of water resources in Gestamp's own operations, which are considered appropriate to report, beyond the fact that the double materiality analysis indicates that the material IROs are found in the value chain: Pilar Target/Commitment Relat policies 2025 Target 2025 Result 2024 Result Baseline year (BY) ENVIRONMENTAL TARGETS Reduction in water consumption per sales (%)1 Environmental Policy To exercise responsible consumption of natural resources, chemical substances, raw materials and water, ensuring their sustainable management and the conservation of water quality and natural environments. 6 % 7 % 5 % 2022 Global monitoring of water extraction and reuse in our processes and facilities Done Done In develop ment n/a To learn how stakeholder perspectives were considered in defining the targets of the 2023-2025 ESG Plan, see chapter "SBM-1: Strategy, Business Model and Value Chain". The scope of the targets is the Gestamp Group. 1. This target was defined taking into account the evolution of water extraction and its possible projections with respect to the baseline year. Calculation method: [(water extraction/sales - water extraction baseline year/sales) / (water extraction baseline year/sales)] x 100. Within the framework of the new ESG 26-30 Plan, Gestamp has reviewed all aspects considered material, taking into account the segment of the value chain in which they are identified, in order to have measurable goals oriented towards results on water and marine resources. As a result of this analysis, the company has defined a set of environmental objectives and sub-objectives related to water, aimed at improving the identification, assessment and management of water impacts and risks both in its own operations and throughout the value chain, consistent with its corporate environmental and ESG policies. In this regard, and as part of the collaboration with Waterplan, work will progress on developing a complete water profile for prioritised plants, incorporating the validation of internal vulnerabilities and, building on the work carried out in 2025, a global matrix will be consolidated to enable comparison between sites and prioritisation of actions. The aim is to strengthen water security and risk management through a progressive approach that enables more consistent measurement, response and reporting. 199
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The following table outlines the targets and commitments of the ESG 26-30 Plan: Pilar Target/ Commitmen t Definition Related policies/ systems Baseline year (BY) 2030 ENVIRONMENTAL TARGETS Target Assessment of water-related impacts throughout the value chain: Objective structured in three pillars described below: Environmental Policy, ESG Policy, ESG Requirements for Suppliers The three policies establish commitments related to reducing emissions and increasing the use of renewable energy. (G1-2) _ _ Sub-target • Integration of specific questions about water into the ESG questionnaire for priority UNSPSC (%UNSPSC) N/A 80 % Sub-target • Conducting a water risk analysis of plants located in areas with water stress and high water consumption. 2026 100 % Sub-target • Include the water impact category in LCA and PCF studies. 2026 90 % 200
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IV. Biodiversity and ecosystems (E4) List of IRO materials associated with the Biodiversity and Ecosystems standard (E4) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to biodiversity: Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain Impacts on the status of species and on the extent and condition of ecosystems BEC1 I - Degradation of local ecosystems and depletion of natural resources due to the extraction of raw materials and poor waste management. Actual Upstream • ESG Policy • Conflict Minerals Policy • ESG requirements for suppliers • Supplier approval that includes aspects related to biodiversity. • Training for suppliers with low scores in the homologation assessment. • ESG audits of suppliers. Yes I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers (including biodiversity). Furthermore, it engages with suppliers if any significant issues are identified. For more information, see section "G1 – 2: Supplier Relationship Management". On the other hand, although no significant IROs related to its own operations have been identified, the ESG and Environmental policies also address these aspects. 2 For more information on the specific objectives set, see chapter "E4 – 4: Goals related to biodiversity and ecosystems". These objectives are related to the supplier approval process, as this is where the impact is identified. Biodiversity is fundamental to the balance of ecosystems and human well-being, providing essential ecosystem services such as climate regulation. However, the decline in biodiversity due to human activity and habitat loss poses a significant threat. 201
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SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model E4 BIODIVERSITY AND ECOSYSTEMS The sites, analyzed within the context of Gestamp's double materiality analysis, are located in urban and industrial areas, some of which are close to areas sensitive to biodiversity. In 2024, a geolocation analysis was conducted on the proximity of the facilities to protected areas, based on the protected area catalogs included in the Natura 2000 Network, IUCN, Emerald Network, and USA Wetlands. This study was reviewed in 2025, revealing that 39% of the Group's plants are located in areas near (<3 km) or adjacent to protected areas. The plants near (<3 km) protected areas according to the Natura 2000 Network are: Country Protected area of the Natura 2000 network near the Gestamp plants Germany Ohmgebirge Donau zwischen Straubing und Vilshofen Westerwälder Kuppenland Östlicher Teutoburger Wald Genshagener Busch Spain Riberas del Río Pisuerga y afluentes Montserrat-Roques Blanques-riu Llobregat Barbadungo Itsasadarra / Ría del Barbadun Río Urumea Rio Baia Delta del Llobregat L'Albufera Serra de Collserola Vegas, cuestas y páramos del sureste de Madrid Gándaras de Budiño France Plateau ardennais Vallée de l'Essonne et vallons voisins Hungary Móri - arok UK North Pennine Moors Portugal Rio Minho Sweden Gammelstadsviken Despite the proximity to protected natural areas and considering the nature of Gestamp's production processes, no significant impacts on biodiversity or on the state and extent of ecosystems, including land use, have been identified in the areas where the company operates. This conclusion was corroborated in 2025 through an impact and dependency analysis at all locations under our operational control, which assessed aspects such as water consumption and use, raw material consumption, waste generation, and carbon footprint. Although the study confirmed the low environmental impact of our activities, it allowed us to classify our plants according to different levels of criticality. This categorization will facilitate, in the future, more 202
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focused environmental management in those production centers where biodiversity may play a more significant role. E4 – 1: Transition plan and review of biodiversity and ecosystems in the strategy and business model. Gestamp strives to ensure the Group's long-term continuity and competitiveness by making its supply chain more resilient and becoming better prepared to face changes in the ecosystems that affect it. In this context, assessing the resilience of the strategy and business model to the risks associated with biodiversity is essential for strengthening the company's sustainability and ability to respond to any risks that may arise. Gestamp is therefore considering defining a transition plan to assess its ability to address biodiversity-related impacts, dependencies, risks and opportunities. Although no material biodiversity risks were identified in the double materiality analysis, Gestamp recognises the importance of specifically monitoring these aspects in its supply chain, as impacts have been identified which, although not material in 2025, could be material in future years. For more information see "SBM-3" and "IRO-1". For this reason, risk analysis linked to the supplier approval process is carried out, providing a preliminary overview of the Group's current exposure. This approach aids supply chain resilience analysis and supports the development of proactive measures to mitigate any potential risks identified. By identifying potential impacts and designing adaptation strategies, Gestamp seeks not only to ensure the continuity of its operations, but also to maintain its competitive position in a dynamic, ever-changing environment. E4 – 2: Policies related to biodiversity and ecosystems Gestamp's commitment to the protection of biodiversity and ecosystems in the value chain is part of its ESG policy, updated in 2024, the Group's Environmental Policy, effective from 2021, and its ESG Requirements for Suppliers. These Group policies aim to ensure the proper management of any impacts, risks and opportunities identified by the company. These policies set out the Group's commitments regarding the environment, climate change, pollution, biodiversity and ecosystems, as well as the efficient use of natural resources. As indicated in “SBM-3”, Gestamp does not carry out activities that may have a significant impact on biodiversity, and its plants are located in industrial areas. However, these policies set out commitments that are also applicable to sites near sensitive areas. Due to the nature of activities performed in the value chain, sustainable agriculture, land use, marine or ocean practices/policies are not included. Furthermore, due to the characteristics of the identified impact, there are significant interactions with the circular economy strategy developed in chapter " E5. Use of resources and circular economy". 203
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ESG Policy BEC1 The ESG Policy establishes the principles on which Gestamp builds its strategy and performance in environmental, social and governance matters ("ESG"). These principles are aligned with its business objectives, corporate culture and the United Nations 2030 Agenda. This policy is global in nature and applies to the entire Group, including all its business activities and relations with third parties in all the geographical areas in which it operates. This policy integrates various topics related to managing impacts, risks, and opportunities linked to biodiversity, as demanded by Gestamp Group’s key stakeholders, such as: • Compliance with the highest ESG standards. • Commitment to decarbonisation and the fight against climate change. • Efficient use of natural resources. • Biodiversity protection in the value chain. • Sustainability and digitalisation (traceability through the value chain). • Collaborative value chain. ESG Management and the Sustainability Committee are responsible for implementing the commitments set out in this policy. For more information see: ESG Policy Environmental Policy BEC1 Gestamp is firmly committed to protecting, conserving and respecting the environment as demanded by its main stakeholders, controlling and minimising the possible adverse impacts of its production processes. Its objectives related to material biodiversity impact are: • To promote environmental training for all employees and internal stakeholders in order to raise awareness of environmental issues affecting the Gestamp Group. • To define a set of objectives and targets aimed at environmental improvement. • To comply with any environmental regulations applicable to Gestamp Group activities, products and services and any commitments that the company undertakes voluntarily. • To carry out responsible consumption of natural resources, chemical substances and raw materials, ensuring sustainable management, water conservation and natural environment protection. • To disclose and make this policy available to all stakeholders. This policy has been tailored for Gestamp Group, and its implementation is overseen by the Environmental Management Department. For more information see: Environmental Policy 204
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ESG requirements for suppliers BEC1 The ESG Requirements must be complied with by all Gestamp Group suppliers and their employees, as well as subcontractors (collectively, the "suppliers") regardless of the country or territory in which these suppliers and employees perform their services. Gestamp involves its suppliers to ensure that, in compliance with the requirements, measures are adopted that help towards the protection of the environment, compliance with environmental legislation, and the maintenance of a preventive approach that minimises adverse effects on biodiversity and ecosystems. In this context, with regard to the only material issue identified on upstream impacts related to ecosystem degradation, the ESG Requirements for Suppliers oblige suppliers to protect ecosystems impacted by their operations, especially key biodiversity areas, and to avoid deforestation in accordance with international biodiversity regulations including the International Union for Conservation of Nature (IUCN) Resolutions and Recommendations on Biodiversity. For the time being, the Group does not include matters on species or ecosystem services, nor does it directly monitor biodiversity gains or losses in upstream ecosystems. This is due to the complexity and lack of data for maintaining or enhancing conditions for biodiversity. However, these requirements also include other impacts that contribute to biodiversity loss, such as pollution and climate change. In the social sphere, the ESG Requirements for Suppliers also set out standards that suppliers must meet as part of their contractual relationship with Gestamp. Early on in the value chain, where material impacts have been identified, suppliers must commit to respecting the rights of local communities, ensuring their access to resources that supply biodiversity and ecosystems, such as water and land. For more information see: ESG requirements for suppliers For more information about Gestamp's management of its suppliers, see G1-2. E4 – 3: Actions and resources related to biodiversity and ecosystems Gestamp, through actions aligned with circular economy principles, contributes to minimising the material impact on biodiversity linked to activities carried out upstream of its value chain. In particular, agreements have been established with suppliers for the purchase of green steel and it recycles almost 100% of its scrap metal, reducing the demand for raw materials used in steel and aluminium production (for more information, see chapter " E5. Use of resources and circular economy "). This initiative works to reduce the harm done to ecosystems caused by extraction activities. Furthermore, since the significant impact identified comes from the supply chain, Gestamp has a strict approval process, as detailed in section "G1-2". This process checks aspects related to biodiversity, such as: the existence of an environmental management system with ISO 14001 certification, whether biodiversity conservation measures are in place, whether the supplier has received any administrative sanctions for environmental non-compliance and, if so, whether it has established measures to 205
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prevent such fines. However, no compensation measures were implemented in 2025, as no direct impacts of Gestamp's own activity on biodiversity and ecosystems were identified that required compensation. As mentioned above, more detailed assessment of the impact of supply chain activities will be carried out, to show compliance with new European directives such as the Corporate Sustainability Due Diligence Directive (CSDDD). The Group is also committed to setting measures through which it can maintain sustainable production activity without compromising the natural environments surrounding its operations. Therefore, Gestamp ensures the implementation of necessary preventive and corrective measures to minimise and correct any potential impact on habitats and species, thus protecting biodiversity in the course of its activity. Within this management framework, Gestamp has established strict action and control mechanisms in 8 of the Group's plants located in Argentina, Brazil, China, Spain, France, Mexico and Portugal, where industrial surface treatment processes and water discharges into public watercourses occur. These facilities are subject to comprehensive internal audits to make sure environmental incident prevention plans are in place, thereby reducing the likelihood of adverse events and protecting local ecosystems. As part of its commitment to biodiversity, Gestamp actively and voluntarily participates in two relevant external initiatives: European Commission's EU Business@Biodiversity platform For many years, Gestamp has worked with pioneering companies to develop tools that help integrate biodiversity into different business models which are currently in place. The work focuses on three main areas: • Natural capital: helping integrate biodiversity into decisions of the company. • Innovation for Biodiversity and Business: developing tools for assessment and sharing and identifying opportunities and best practices. • Financial Institutions: forum for dialogue between financial institutions to integrate biodiversity and natural capital into trends in financial activities. Participation in Nature Business Ambition In 2022, Forética launched the business leadership initiative Nature Business Ambition in which Gestamp participates, in order to boost ambition, promote action and build alliances to help towards the recovery of nature and biodiversity as key factors in achieving a "nature positive" planet by 2030: 206
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ZERO EMISSIONS ACTION PARTNERSHIPS Boost ambition and enhance the commitment of companies involved. Promote action by identifying business cases, trends and major tools to move towards a “Nature positive” world. Build alliances with the main national and international stakeholders to become a leading player. E4 – 4: Targets related to biodiversity and ecosystems. Gestamp does not currently have measurable results-oriented targets on biodiversity and ecosystems related to its own activity, as the impacts identified as significant correspond to the Group's supply chain. The ESG Plan sets targets that seek to achieve a responsible supply chain, as detailed in the section "E2-3". Finally, Gestamp is considering moving forward in this area and setting targets aligned with the Kunming-Montreal Global Biodiversity Framework under the Convention on Biological Diversity (CBD), as well as other biodiversity-related strategic frameworks. Targets are being defined and assessed taking into account the updated ESG Plan, which will be based on the outcome of the double materiality analysis carried out to mitigate negative impacts identified and promote more sustainable management. As a demonstration of our performance in biodiversity, the following commitment is defined in the ESG Plan 26-30. Pilar Target/ Commitment Description Related policies Baseline year (BY) 2030 ENVIRONMENTAL TARGETS Commitment Conducting biodiversity assessments at production sites Environmental Policy, ESG Policy N/A >1 E4 – 5: Incidence parameters related to changes in biodiversity and ecosystems. Gestamp is focused on defining key voluntary metrics to assess the natural environment where its facilities are located, in order to monitor its potential impact on biodiversity. These metrics focus on two main factors: identifying the protected status of natural areas (both national and international) close to Gestamp sites and assessing the existence of endangered species surrounding these facilities. Although specific metrics for material impact upstream of the value chain and metrics including ecological thresholds are not currently in place, these efforts reflect Gestamp's commitment to biodiversity conservation and its alignment with frameworks and initiatives related to these issues. Twenty-one of the organization's plants are located in protected areas designated as Special Areas of Conservation (SACs) and Special Protection Areas for Birds (SPAs) within the Natura 2000 Network, among others. 207
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These parameters are identified and updated through geospatial analysis, using geographic information systems (GIS) and nature databases. A detailed biodiversity study has also been carried out by Gestamp, and data provided by the plants is gathered. The metrics are based on a combination of sources: primary data, secondary data and geospatial models built from GIS data. 208
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V. Resource use and circular economy (E5) List of material IROs associated with the Resource Use and Circular Economy standard (E5) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to resource use and the circular economy: Resource inputs, including resource utilization REC1 I + Reduction of raw material extraction and CO2 emissions in the supply chain as a result of increased recycling and reuse of steel. Current Upstream • ESG Policy • Environmental Policy • ESG requirements for suppliers It is committed to a circular economy based on: • Increase in recycled material • Efficient use of resources • Waste management • Reuse and adaptation of assets • Development of PCF for Gestamp parts and study of the results. Yes REC4 R n/a Uncertainty arising from the current volatility of green/low carbon steel prices. n/a • Upstream • ESG Policy • ESG requirements for suppliers Development of alliances that promote closing loop projects and more efficient production processes. Yes REC5 R n/a The difficulty of accessing secondary raw materials with sufficient quality guarantees is causing a slowdown in the progressive development of parts with a high content of "green" materials. n/a Upstream • ESG Policy • Environmental Policy • ESG requirements for suppliers • Development of production processes that promote the efficient use of resources and the reuse of productive assets. • Development of waste management processes that enhance the availability of secondary raw materials. • Adapting existing machinery to new products. Yes REC7 O n/a Differentiation from the competition through a low-emission steel/aluminum content that meets market needs. n/a • Upstream ESG Policy • Signing of low-emission steel agreements. • Ensuring the correct management of scrap metal to enhance the availability of secondary raw materials. - REC8 O n/a Gestamp can lead the development of a circular supply chain, where materials are recovered and reused at the end of their useful life. n/a Upstream • ESG Policy • ESG requirements for suppliers Development of activity in working groups such as Catena-X where collaborative work between OEMs and suppliers of Gestamp is promoted. Yes Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain 209
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Resource outputs related to products and services REC3 I + Improved product quality and lifespan as a result of more durable components, leading to a reduction in waste generation. Actual • Upstream • Own Op. • Downstream • ESG Policy • ESG requirements for suppliers Development of R&D projects of new technologies and designs in order to increase performance, reduce weight and increase product lifespan. - REC6 O n/a Improving the efficiency of production systems through digitization and automation (Industry 4.0). n/a Own Op. ESG policy. (business-related aspect) I develop more efficient and flexible production plants with more consistent and reliable processes through data analysis, adding intelligence to processes to deliver the right information to the right people at the right time. - Waste REC2 I - Environmental impact due to poor management of the final destination of generated waste (e.g., packaging materials, cardboard, plastic, pallets, among others). Potential Own Op. • ESG Policy • Environmental Policy Development of actions related to the management of all waste generated by the company and its certification by AENOR with the Zero Waste distinction. Yes Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers (including aspects related to the circular economy). Furthermore, it interacts with suppliers if any significant issues are identified. For more information, see section "G1 – 2: Supplier Relationship Management". 2 For more information on the specific objectives established, see chapter "E5 – 3: Goals related to resource use and the circular economy". These objectives are related to the supplier approval process, as this is where the impact is identified. The efficient use of resources and the implementation of circular economy principles are essential for sustainability and reducing environmental impact. Gestamp seeks to develop the circularity of its business model, enhancing the use of its scrap metal as a secondary raw material in the production of low-emission steel, reducing the extraction of raw materials for steel and aluminum production, and promoting the optimization of waste management. 210
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E5 – 1: Policies related to the use of resources and the circular economy. The circular economy is a strategic pillar for Gestamp, essential in its transition towards a more sustainable and resource-efficient industry. The company strives to minimise the extraction of raw materials, reduce CO2 emissions and promote reuse and recycling, especially with regard to its main raw material, steel. This commitment is reflected in a series of policies ranging from the design of more efficient and sustainable production processes and products to active collaboration with suppliers and customers, with the goal of building a value chain that is completely circular. ESG Policy REC1, REC2, REC3, REC4, REC5, REC6, REC7 and REC8 As a requirement of its stakeholders, Gestamp has developed an ESG Policy that establishes the principles on which Gestamp builds its strategy and performance in environmental, social and governance matters ("ESG"). These principles are aligned with its business objectives, corporate culture and the United Nations 2030 Agenda. Gestamp undertakes the commitment to manage natural resources rationally and efficiently, aware that they are finite and that it is important to preserve them for the well-being of society. It therefore actively promotes circular business models that prioritise reuse, recycling and sustainability in every stage of its activity. To meet this goal, Gestamp has established the following commitments: • The promotion of efficiency in the use of resources and processes with low- emission materials. • Use of steel and aluminium with high recycled material content facilitated by the reintroduction of scrap as secondary raw material. • The development of circular business models, prioritising recycled content in automotive components and the recovery of its own waste. This includes the appropriate management and recovery of Gestamp’s waste, extending this commitment to its entire value chain. The goal is to reduce the generation of waste at source and to encourage recycling, reuse and recovery wherever possible. • The creation of a collaborative value chain through ESG standards involving customers and suppliers, geared towards a more resource-efficient, less polluting industry aligned with the principles of decarbonisation and circular economy. • The promotion of proper waste management and recovery, which entails applying the waste hierarchy, giving priority to prevention over preparation for reuse, recycling and other forms of recovery, with disposal as a last resort. This policy is global in scope, encompassing all the geographical regions in which the group operates and extending these commitments to the entire Gestamp value chain; the Sustainability Department, supervised by the Sustainability Committee, is responsible for the application of the commitments set forth in this policy. This policy is available to interested parties on the Group's corporate website. 211
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For more information see: ESG Policy Environmental Policy REC1, REC2 and REC5. Through its Environmental Policy, Gestamp commits to the responsible consumption of natural resources, chemicals, raw materials, and water, ensuring their sustainable management while preserving water quality and natural environments (an aspect widely demanded by Gestamp’s stakeholders). In addition, it strives to reduce the waste generated in the development of its productive activity with the implementation and maintenance of a circular economy model. This policy is global in scope, encompassing all the geographical regions in which the group operates. The Sustainability Department is responsible for the application of the commitments set forth in this policy. This policy is available to interested parties on the Group's corporate website. For more information see: Environmental Policy To manage circularity in its value chain, Gestamp has established specific ESG requirements for its suppliers, geared towards reducing both CO2 emissions in its supply chain and dependence on the extraction of raw materials. These requirements include the obligation to consume natural resources such as water and raw materials responsibly, as well as to reduce waste generation at source by promoting recycling, reuse and recovery. Gestamp identifies price volatility and limited availability of green or low-emission steel as critical risks. To address these challenges, it implements measures such as: • General purchasing conditions, which establish fixed prices unless there is an agreement to the contrary, cost optimisation commitments on the part of suppliers and compensation mechanisms in the event of breaches. • Strategic partnerships with key suppliers, to ensure stability in the supply of low- emission steel. The company has signed strategic agreements with steel makers such as ArcelorMittal, Salzgitter Flachstahl, SSAB and Acciaieria Arvedi. These alliances drive a circular supply chain, promoting the recovery and reuse of materials at the end of their useful life, thus reinforcing its commitment to sustainability and innovation in the sector. For more information about Gestamp's management of its suppliers, see G1-2. E5 – 2: Actions and resources related to the use of resources and the circular economy. Gestamp seeks to develop the circularity of its business model, leveraging the use of its scrap as a secondary raw material in the production of low-emission steel, reducing the extraction of raw materials for steel and aluminium production and promoting the optimisation of waste management. 212
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Gestamp considers circularity to be one of the basic pillars of its sustainability strategy, identifying that the consumption of raw materials is one of the areas where it has the greatest environmental impact. Generating new materials with a high percentage of recycled content to mitigate this impact becomes especially relevant. This is why Gestamp places great value on its commitment to the circular economy and a model based on: INCREASED USE OF RECYCLED MATERIAL EFFICIENT USE OF RESOURCES WASTE MANAGEMENT REUSE AND ADAPTATION OF ASSETS Development of alliances that promote "closing the loop" projects. Developing production processes that promote the efficient use of resources (raw materials, water and energy) and the reuse of its production assets. Development of waste management processes that enhance the availability of secondary raw materials. Adaptation of existing machinery to new products. However, Gestamp faces significant challenges related to low-emission steel with a high content of recycled material. Its availability is directly related to decarbonisation strategies and the investments of the main suppliers, which entails additional costs. Approval is also required to ensure that they meet the strict technical and quality requirements demanded by customers. Similarly, there are obstacles in the procurement of aluminium and other composite materials, which although used to a lesser extent by the company, present the same difficulties in terms of availability, cost and approval requirements. 213
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Finally, Gestamp conceives the circular economy not only in terms of the use of production materials, but also as the reuse of its production assets. In this sense, the R&D department works on adapting existing machinery to new products, which contributes to the circularity of the entire process. Collaboration to promote the circular economy As part of its commitment to the circular economy and despite the challenges described, in recent years Gestamp has implemented a series of measures and initiatives: • Collaboration with other stakeholders through working groups and associations such as Catena-X, Sernauto and Forética, to prepare and define more circular strategies. • Meetings with strategic suppliers to position itself as a major player in order to ensure the availability of low-emission steel with a high content of recycled material. One example of this is the agreements signed with Hydnum, Voestalpine and Stegra. • Collaboration with customers to align with their expectations and requirements. • Approval and validation of new materials with a high content of recycled material, in a collaborative environment between steel mills, the customer and Gestamp. • Ecodesign course. Another initiative that reflects Gestamp’s strong commitment to ecodesign is the course delivered in 2025, which will continue to train key areas and profiles within the Group. This training raises awareness from the earliest stages of product development, integrating sustainability criteria from the outset. ENHANCING THE AVAILABILITY OF SECONDARY RAW MATERIALS: GESCRAP With the acquisition in 2022 of 33.3% of the Gescrap Group specialised in the recycling of metals, Gestamp took a further step forward to promote circularity in its business model. This integration allows for greater control over the management of metals, providing better traceability, and driving and enabling their use in the production of low-emission steel with a high content of recycled material. In this regard, and thanks to the integration of Gescrap, Gestamp seeks to enhance the availability of high-quality scrap in the automotive sector. For this reason, Gestamp has signed agreements with various steel mills to advance in this direction, including mass balance agreements like the one signed with Tata Steel in 2023. These agreements allow the scrap supplied by Gestamp to be accounted for as part of the recycled steel material in the final product. This increases the percentage of recycled material in the steel supplied to Gestamp without affecting the quality, strength, or formability of the product while reducing its carbon footprint. Further details on the integration of Gescrap and its impact on key performance indicators can be found in section E5-4. 214
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NEW MATERIALS WITH A HIGH CONTENT OF RECYCLED MATERIAL Gestamp began testing new, more sustainable materials in 2023 thanks to partnerships forged with steel suppliers. In this regard, steel with a high content of recycled material (>75%) and produced with renewable energy using an electric furnace (EAF) has been tested for the manufacture of a component of the chassis division. The initial tests have been successful, determining that this new material does not affect the correct performance of the part. As a result of the analysis of the product’s carbon footprint (cradle-to-gate), this material has been found to reduce the CO 2 equivalent emissions of the component by up to 63%. GESTAMP PCF TOOL Gestamp has developed an automated tool for calculating the carbon footprint of the parts it manufactures, initially focused on the Chassis and Body in White divisions, and which is also beginning to be incorporated into the EDSCHA division. Its scope is expected to be extended to Tooling in the near future. The main input of this tool is a comprehensive database called Life Cycle Inventory (LCI) adapted to Gestamp’s main production processes and to the raw materials most frequently used. During its development, a detailed analysis of all production processes was performed in conjunction with the energy efficiency team and its real-time consumption monitoring tool. There were also contributions from departments with high relevance within the company, such as the procurement department, which worked on obtaining information on suppliers and raw materials, or the engineering and sales departments, with knowledge of the technical details of the parts to be analysed. As in 2024, during 2025 the database that forms the fundamental structure of the tool and the methodology used in all calculations has once again been certified by Applus+. Thanks to this certification, the reliability and robustness of the tool has been reaffirmed for another year. A notable aspect of the 2025 certification process is the implementation of controls to verify the correct integration of all data received and subsequently incorporated into the tool. This ensures that the final information shared with customers and other internal areas is as accurate and robust as possible. Likewise, the carbon footprint calculation tool continues to evolve through constant updates, either to ensure that the database is always up to date or to provide relevant information to support decision-making by Gestamp's customers and internal departments. An example of this is the comparative coefficients for parts with similar structures included in 2025. Looking ahead to 2026, we plan to incorporate a new indicator designed to provide information on the water impacts associated with the production of our parts. 215
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ECO-DESIGN TRAINING: A FUNDAMENTAL PILLAR IN CIRCULARITY In 2025, Gestamp reinforced its commitment to the circular economy by launching a new eco-design course promoted by the ESG and innovation departments. This initiative seeks to raise employee awareness of good practices applicable in their daily work to move towards more sustainable and circular products. The training included a theoretical session that provided an overview of eco-design, its regulatory framework and strategies for integrating sustainable criteria from the initial stages of projects. In 2026, the aim is to continue with a second phase of face-to-face workshops based on practical cases from Gestamp. 216
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SUSTAINABLE USE OF RESOURCES: WATER AND STEEL Gestamp integrates efficiency measures in the use of key resources, such as water and steel, in order to promote circularity in its business model. WATER STEEL Gestamp manages water, a limited resource, with saving and efficiency plans that cover both sanitary and industrial uses in surface treatment, painting or hydroforming processes. These initiatives include the implementation of closed- loop systems and recycling, such as at the Chennai plant in India, which reuses treated water for gardening. Steel is the main technical material used by Gestamp, accounting for 96% of the raw materials consumed. Thanks to Gescrap, Gestamp optimises efficiency in the use of steel, its primary raw material, by integrating the scrap generated in its production processes as a secondary raw material. This model closes the material cycle by reintroducing recycled steel, reducing dependence on virgin resources, reducing the emissions associated with its production and aligning with the principles of the circular economy. WASTE MANAGEMENT: Gestamp manages all of its waste, including scrap metal, thanks to relationships with suppliers like Gescrap, as well as all other waste generated: SCRAP METAL MANAGEMENT: The scrap produced in Gestamp’s production centres is considered to be mostly of high quality, which is why specialised scrap treatment operators, such as Gescrap, are contracted. In this manner, it is reintroduced into the system and enhances the circular economy in the sector. MANAGEMENT OF OTHER WASTE: In 2025, the certification of the Circular Economy model obtained with AENOR in 2022 was continued with the certification body TUV RHEINLAND, in a project for the period 2024-2026, demonstrating Gestamp's position on this issue compared to: • Customer requests • Implementation of SDG 12 “responsible production and consumption” • Regulatory framework that will develop regulations in this regard (European Green Deal) The Zero Waste Regulation includes two types of certifications: • Zero waste. Recovery of more than 90% of waste.17 • Towards Zero Waste. Recovery of more than 60% of waste7. 217 17Not taking scrap metal into account.
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The verification of these two certifications, carried out at all plants within the certification area through a hybrid online and in-person process, has confirmed that the waste management systems of 58% of the Group's plants comply with the requirements for complete waste traceability. This tracking includes everything from waste generation to delivery to a waste management company for recovery, ensuring that no waste is sent to landfills and verifying compliance with the legal requirements associated with the waste management process. A total of 92% of the verified plants have obtained Zero Waste certification (more than 90% of the waste) and the remaining 8% meet the requirements Towards Zero Waste (more than 60%). The follow-up audits also highlighted the high level of collaboration and involvement of all participating staff in the process of implementing the scheme, the tidiness and cleanliness of the waste storage areas in all the plants audited, and the integration of some specific requirements of the Zero Waste Management System into the ISO 14001 Environmental Management Systems. ZERO WASTE 61 PLANTS 95% Scrap 100% Recycled and Recovered Material (Gescrap) 5% other waste >90% Recycled Material TOWARDS ZERO WASTE 5 PLANTS 95% Scrap 100% Recycled and Recovered Material (Gescrap) 5% other waste >60% Recycled Material The actions described above are global in nature and are expected to continue because the results achieved and described above meet the company’s expectations. Beyond these actions, no additional measures are expected to be developed, nor is there a specific time horizon for their development. However, if any new action is developed during the next financial year and is considered to be of significant importance, it will be reported appropriately in the next sustainability report. In addition, supplier management is integrated in chapter "G1-2". Gestamp does not have a specific CapEx or OpEx for these actions as it integrates them into its day-to-day business. Faced with the challenges of defining priorities in the circular economy, AENOR has developed a certification of the Circular Economy Strategy Management Model. This model provides organisations with a reference framework that helps determine the relevance of the aspects to be addressed and identify their contribution to international circular economy principles. In this regard, Gestamp has worked during 2025 on obtaining the AENOR Circular Economy certification, showcasing its firm commitment to innovative practices in this area. 218
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E5 – 3: Targets related to the use of resources and the circular economy. The significant difficulty of defining key performance indicators (KPIs) in the circular economy is widely recognized. A primary challenge is the need to develop mature standards due to the diversity of sectors and economic contexts. Furthermore, measuring the real impact of circular economy strategies requires reliable and detailed data, which is often unavailable or inconsistent. The lack of consensus on criteria for evaluating circularity and the need to integrate economic, environmental, and social perspectives further complicate this process. Therefore, Gestamp is part of the main working groups (such as Catena-X), develops traceability projects and has a specific pillar in its ESG Plan 2025 in which commitments and quantitative targets for circularity are established: These targets, which are related to the waste hierarchy, reinforce their commitment to a more efficient and sustainable model in the use of resources: 219
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Pilar Target/Commitment Linkage with policies 2025 Goal 2025 Result 2024 Result Baseline year (BY) CIRCULARITY2 Circularity agreements with suppliers1 ESG Policy and Environmental Policy The policies establish commitments on the development of the circular economy at Gestamp. New agreeme nts 3 3 n/a Partnerships with scrap metal managers Gescrap Hecho Hecho n/a Calculating the carbon footprint of product families 100 % 100 % 55 % n/a ENVIRONMENTAL TARGETS Circular Economy Certification3 80 % ≈80% Made n/a Reduction of hazardous waste (tons of contaminated water not recycled or recovered/added value) x100 35 % 36 % 28 % 2021 To learn how stakeholder perspectives were considered in defining the targets of the ESG Plan 23-25, see chapter "SBM-1: Strategy, Business Model and Value Chain". The scope of the targets is the Gestamp Group. 1. Circularity agreements with suppliers are published on the corporate website. 2 The progress is in line with expectations in the ESG Plan definition. Ecological thresholds have not been considered in the targets shown here. 3 Calculated as the percentage of sales covered by certified plants versus total sales. Through these targets: • Gestamp strengthens its agreements with suppliers to procure steel with recycled content, with low emissions and green steel, aligning with the principles of the waste hierarchy. This commitment is linked first and foremost to prevention, by encouraging the use of secondary materials and thus avoiding the extraction of virgin resources. It is also associated with recycling, promoting the inclusion of recycled materials and prioritising their reintroduction into the production cycle. • Gestamp has entered into strategic alliances with scrap suppliers to promote the recovery and reintegration of materials into the production cycle. This goal is associated with preparation for reuse, as it facilitates the recovery of materials that can be directly reused or subjected to recycling processes, thus promoting a more efficient and sustainable management of resources. • On the other hand, the analysis of the carbon footprint of product families allows us to identify opportunities for improvement in design, materials and production processes. This approach seeks to optimise the use of resources and minimise environmental impact, mainly by increasing the recycled content of products and the use of renewable energies. In addition, obtaining the AENOR Circular Economy certification supports the company’s practices at the key levels of the waste hierarchy: prevention, recycling and preparation for reuse. This recognition ensures that Gestamp’s processes and products are aligned with the principles of circularity, maximising the use of resources and minimising the waste generated. 220
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These goals are designed at the corporate level and aim to increase the circular material use rate, optimising the reuse of resources and the integration of secondary raw materials. Reinforcing agreements for the procurement of recycled and low- emission steel contributes to reducing the extraction of virgin resources, lowering dependence on extractive activities such as mining, which negatively affect ecosystems and lead to biodiversity loss. These initiatives also help to reduce the environmental footprint of products throughout their life cycle. At the same time, alliances with scrap suppliers ensure the recovery, sorting and recycling of materials at the end of their useful life, promoting design for recyclability. Additionally, Gestamp understands the circular economy not only in the use of materials, but also in the reuse of its productive assets. Analysing the carbon footprint of product families is a fundamental step in prioritising sustainable materials and processes, identifying opportunities to reduce the environmental impact and optimising product design. Finally, the AENOR Circular Economy certification validates the practices implemented, ensuring that they are aligned with principles such as recyclability, thus consolidating a comprehensive approach towards maximising the value of resources and minimising waste. These actions contribute directly to meeting the goal of zero waste and ensure that materials remain in the production cycle for as long as possible, significantly reducing the generation of non-usable waste and the use of primary raw materials. The following table outlines the targets and commitments of the ESG 26-30 Plan: Pilar Targets/ Commitment Description Linkage with policies Baseline year (BY) 2030 CIRCULARITY Commitment Emission reduction through the reuse of productive assets ESG Policy and Environmental Policy The policies establish commitments on the development of the circular economy at Gestamp. 2024 10 % Commitment Circularity projects and materials with high recycled content to ensure that 100% of scrap metal is recycled N/A 100 % Commitment Sustainability focused on the product and ecodesign N/A >1 ENVIRONMENTAL TARGETS Targets Zero waste to landfill in production plants N/A 75 % 221
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E5 - 4: Resource inputs. The manufacture of Gestamp parts requires the use of raw materials (steel, non- ferrous metals) and auxiliary materials (wire, welding gases, oils, etc.). Furthermore, the plants are constantly working on the characteristics of the procured materials, striving to gradually improve the way they are used, replacing toxic or hazardous oils and chemicals with other, less hazardous products, or products that have a lower impact on the environment or human health. Steel and aluminum are the most widely used raw materials in production processes, representing approximately 96% and 3% by weight of total materials consumed, respectively. Gestamp is working to reduce these consumption levels by identifying and implementing best practices. Currently, Gestamp uses 21% recycled content in the manufacture of components. Gestamp strengthens its access to secondary raw materials, as outlined in section "E5-2," through the acquisition of a 33% stake in the Gescrap Group in 2022. This development represents a decisive step towards circularity within its business model. The strategic alliance allows for optimised metal management, improved traceability, and increased incorporation of metals into the production of low-emission steel with a high recycled content. In this regard, by 2025, approximately 33% of the material consumed was returned to the production cycle as scrap. Of the 3 million tonnes of steel used, nearly 1 million tonnes were generated as scrap and reintroduced into the process, primarily through Gescrap. This internal return of materials directly contributes to circularity by ensuring a significant portion of resources remains within the production system, reducing reliance on virgin raw materials and lowering the associated environmental impact. This impact will accrue directly to Gestamp when it is possible to trace the scrap re-entering its own production cycle through closed loops or when the agreements signed with the steelworks come into effect. To a lesser extent, representing 1.5% of total consumables, products such as oil, paint and necessary chemicals are used in the plants as auxiliary materials for the development of productive activity. On the other hand, water is an essential resource upstream in the value chain, particularly in steel mill processes, where it is used for cooling and processing steel. Materials used for the manufacture of Gestamp products 2025 2024 Description Weight (Tons) % Weight (Tons) % Steel 2.942.510 95,7 % 3.026.318 95,7 % Aluminum 85.138 2,8 % 85.992 2,7 % Other materials supplied 45.472 1,5 % 51.160 1,6 % Welding wire 7.946 0,3 % 9.738 0,3 % Welding gases 23.995 0,8 % 27.681 0,9 % Oils 2.856 0,1 % 2.766 0,1 % 222
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Paintings 2.908 0,1 % 2.963 0,1 % Biological materials 0 — % 0 — % Others 7.767 0,3 % 8.012 0,3 % Total weight of materials 3.073.120 100,0 % 3.163.470 100,0 % This information covers the entire scope of this report. Regarding recycled or low-emission steel, Gestamp has future agreements in place, but a specific amount has not yet been identified. For the collection of environmental information, an internal tool is used through which the plant's environmental managers incorporate the information with its respective evidence. This is supervised and consolidated at the corporate level. E5 – 5: Resource outputs. Gestamp is actively working on the development of a circular business model, prioritising the use of its own scrap as a secondary raw material in the production of low-emission steel. This strategy reduces the extraction of raw materials such as steel and aluminium (Gestamp's main resource outlets), while optimising waste management and promoting more sustainable practices. The Industry 4.0 model plays a crucial role in this transition, integrating circularity principles into the production processes of Gestamp. Digitalisation and data analysis enable optimisation at every stage of the product life cycle, from waste reduction and efficient use of materials in processes such as hot stamping, to virtualisation of production lines, which facilitates accurate simulations to reduce energy consumption and the use of raw materials. Real-time connection between machines, systems, products and people improves traceability and fosters continuous improvement, promoting the reuse and recycling of materials. In addition, Gestamp increases the use of recycled materials through strategic alliances that promote closing the loop projects. In this regard, Gescrap is a key player, ensuring greater availability of high-quality scrap suitable for the automotive sector. Through advanced waste management processes, Gestamp not only optimises the use of secondary resources, but also reinforces its commitment to the circular economy in the automotive industry. In terms of durability, the components manufactured by Gestamp are designed to have a long lifespan, contributing to the long-term sustainability of the vehicle.18 Furthermore, the materials used in the manufacture of these components, mainly steel (96%) and aluminum (3%), are 100% recyclable, which reinforces the efficiency of the product life cycle and the integration of circular principles in its production. One of the measures governing the concept of sustainability is the 9Rs, based on a methodology with a comprehensive approach to improve sustainability in business processes. Each "R" represents a key principle that companies can apply to reduce their environmental impact and promote more sustainable practices. Below are the 223 18Gestamp works with its customers to develop the highest quality products. However, it is the OEM who sells the product to the end consumer, making it difficult to monitor the durability and repairability of their products. For more information, see the "Quality" chapter.
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concepts that make up this methodology and a brief description of what each of them means: Although the list includes nine concepts, their applicability and development are subject to particular circumstances of each company, it is not always possible to implement all of them. Concepts such as repair, reuse, restore, redefine and remanufacture are difficult to transfer to Gestamp parts due to the high quality and safety standards they must meet. Despite this, the Group has a wide range of products 19 available to its customers that are designed to follow three main principles of circularity: reduce, rethink and recycle. Reduce is the first concept that Gestamp follows to try to mitigate the impact of the components in its portfolio. To this end, Gestamp focuses its strategy on lightweighting, where it reduces the weight of components, optimising the use of raw materials in its production processes and, therefore, minimising the resources needed for their extraction upstream in the value chain. Among all the production processes used to reduce the weight of components, hot stamping is a key technology to achieve the objectives set by the Group. The second concept implemented in the Group's strategy is recycling, which aims to process scrap and other waste used in production and ensure they have the same quality as at the beginning of the cycle. Finally, there is the concept of rethinking. The Overlap Patch Door Ring perfectly exemplifies the concept of rethink. Using Overlap Patch technology, several pieces are welded together and then stamped in a single stroke on a hot stamping line. This way, 224 19It is not possible to list all the products that are designed under the principles of circularity since each of the products that are going to be produced are always designed taking into account some of the principles of circularity that are included in the previous sections.
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a completely finished piece is obtained with a significant reduction in the elements that make up the production system. Another practical example that encompasses more than one R is the Ges-Multipath platform, which jointly applies three of the key Rs: Redesign, Reduce and Reuse. Thanks to a modular redesign, the same part can be used in different vehicle models, requiring only minor adjustments in the final assembly. This allows the same part concept to be reused across multiple platforms and reduces additional processes, simplifying production and optimising the use of resources, which directly contributes to a more efficient and sustainable process Waste management Waste management is a key element in the sustainability strategy, geared towards minimising the generation of waste, optimising its recovery and guaranteeing its correct disposal, in line with the principles of the circular economy and the prevailing regulations. This approach reduces environmental impact and promotes a more efficient use of resources. Total amount of waste generated During 2025, a total of 69,047 tons of waste were generated, excluding scrap metal. Of this total, 34,521 tons were non-hazardous waste and 34,526 tons were hazardous waste. Of all non-hazardous waste, 97% is scrap metal. Scrap metal is 100% recyclable and re- enters the steel production process, thus contributing to closing the product life cycle in accordance with the circular economy model. 225
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Total Waste Generated 2025 2024 Type of waste Ton. Ton. Non-hazardous waste 34.521 32.380 Hazardous waste 34.526 30.745 Scrap 1.098.484 1.125.312 TOTAL 1.167.531 1.188.436 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. 204
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NON-HAZARDOUS WASTE20 Within the category of non-hazardous waste, the most frequently generated are wood, municipal solid waste, and paper/cardboard: Non-Hazardous Waste 2025 2024 Total Waste diverted from disposal Waste directed to disposal Total Waste diverted from disposal Waste directed to disposal Type of waste Ton. % Ton. Ton. Ton. % Ton. Ton. Wood 10.914 34 % 10.488 425 11.314 35 % 10.777 537 Municipal solid waste 7.132 22 % 2.651 4.481 7.288 23 % 1.535 5.753 Paper/cardboard 5.044 16 % 4.961 83 4.637 14 % 4.420 217 Non-hazardous sludge 3.747 12 % 3.413 334 2.784 9 % 2.448 336 Other non-hazardous materials 498 2 % 485 13 1.111 3 % 1.100 10 Other non-hazardous waste 572 2 % 348 224 520 2 % 343 177 Plastic containers 1.600 5 % 1.547 53 1.309 4 % 1.287 23 Non-hazardous oils 391 1 % 335 55 463 1 % 453 10 Process furnace waste 75 — % 18 57 68 — % 17 51 Inert waste 4.549 14 % 4.459 90 2.886 9 % 2.763 124 TOTAL 34.521 100 % 28.706 5.816 32.380 100 % 25.142 7.237 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. 227 20The variation in the categories of waste reported between years is due to the variation in the generation of the waste.
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PLASTICS During 2025, Gestamp collected 1,600 tons of plastic packaging, of which 97% was recycled and 3% was sent for energy recovery treatments. HAZARDOUS WASTE21 Within the category of hazardous waste, the most frequently generated are contaminated water, sludge, used oils and contaminated material (mainly rags and gloves stained with oil). Hazardous Waste 2025 2024 Total Waste diverted from disposal Waste directed to disposal Total Waste diverted from disposal Waste directed to disposal Type of waste Ton % Ton. Ton. Ton. % Ton. Ton. Contaminated water 26.227 76 % 23.324 2.904 22.621 74 % 19.597 3.025 Used oils 1.326 4 % 1.171 156 1.222 4 % 1.115 107 Sludge 2.996 9 % 275 2.722 2.842 9 % 284 2.558 Other waste 349 1 % 25 323 369 1 % 36 333 Contaminated material 851 2 % 636 216 868 3 % 605 263 Used oil filters 31 — % 15 15 39 — % 10 28 Shot blasting powder 282 1 % 204 77 405 1 % 218 187 Cutting fluid 333 1 % 208 124 391 1 % 339 53 Welding powder 174 1 % 27 147 140 — % 47 94 Contaminated containers 496 1 % 159 337 511 2 % 177 335 Chemicals 660 2 % 3 657 591 2 % 110 481 Rest 801 2 % 467 334 745 2 % 508 237 228 21Gestamp does not generate radioactive waste.
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Electrical and electronic equipment 59 — % 48 11 102 — % 89 12 Masticos 293 1 % 14 279 190 1 % 19 171 Welding filters 15 — % 4 11 14 — % 4 10 Toners 3 — % 3 0 3 — % 2 1 Solvents 394 1 % 372 21 392 1 % 367 25 Dangerous heavy metals 5 — % 0 5 14 — % 7 7 Healthcare waste 3 — % 0 3 4 — % 0 4 Fluorescent 4 — % 2 2 5 — % 4 1 Batteries 14 — % 14 0 7 — % 6 1 Aerosols 11 — % 9 2 13 — % 9 4 TOTAL 34.525 100 % 26.514 8.011 30.745 100 % 23.044 7.701 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. 229
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Waste recovery The disposal of a significant portion of the waste was avoided through recovery operations, the breakdown of which by type of operation and hazard is detailed below: Waste recovery 2025 2024 Valuation operation Hazardous waste (Tons) Non- hazardous waste (Ton) Hazardous waste (Tons) Non- hazardous waste (Ton) Preparation for reuse — — — — Recycling 23.696 25.846 21.275 22.586 Other valuation operations1 2.818 2.860 1.770 2.556 TOTAL 26.514 28.706 23.044 25.142 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. 1 Energy recovery Waste disposal The amount of waste disposed of was classified according to the type of treatment applied. Waste disposal 2025 2024 Valuation operation Hazardous waste (Tons) Non- hazardous waste (Ton) Hazardous waste (Tons) Non- hazardous waste (Ton) Incineration 0 0 0 0 Landfill 3.479 4.809 3.536 5.839 Other disposal operations 4.531 1.006 4.165 1.399 TOTAL 8.010 5.816 7.701 7.237 The information relating to the year 2024 has been restated to report 100% of the indicator's perimeter and to make it comparable with the current year. The percentage of non-recycled waste was calculated by considering the total waste generated and the waste recovered. For this period, this percentage reached 20%. An internal tool is used to collect environmental information, through which plant environmental managers input data along with supporting evidence. This information is then monitored and consolidated at the corporate level. 230
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3. SOCIAL INFORMATION I. Own Workforce (S1) List of material IROs associated with the ESRS S1 Own Workforce standard: Health and safety PPR5 R n/a Production reduction due to increased sick leave among Gestamp employees. n/a Own Op. Health and Safety Policy • Health and Safety Management System (GHSS) certified under ISO 45001 in 100% of the plants and known at all levels of the organization, which allows the integration of minimum mandatory compliance criteria regardless of the country, legislation and culture. • System of biennial and quarterly internal audits. • Continuous improvement development in the GHSS. Yes PPR7 O n/a Productivity improvement due to increased employee confidence by investing in innovative security systems to improve safety in manufacturing processes, employee training, and through communication channels. n/a Own Op. Health and Safety Policy Training and capacity building PPR2 I + Development of the technical skills of our employees through adapted and continuous training. Actual Own Op. Training and Development Policy • Performance appraisal process based on objectives and meritocracy. • Development of specialized training programs throughout the group. • A compensation approach focused on value creation, achieving the strategy and, in turn, attracting, retaining and motivating the best professionals, ensuring equal opportunities in all respects. • Social benefits that improve the quality of life of employees. • Implementation of flexibility and work-life balance measures. Yes PPR6 R n/a Operational difficulties and project continuity as a result of low talent retention and high employee turnover. n/a Own Op. • Training and Development Policy • Policy on Equality, Diversity and Inclusion • Selection Policy PPR10 O n/a Recruitment of specialized and qualified personnel as a result of new talent attraction plans that meet the company's new needs and ensure its future development. n/a Own Op. • Selection Policy • Fixed and Variable Compensation Policy Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain 231
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Freedom of association PPR3 I + Strengthening social dialogue through two- way communication channels, allowing for active employee participation and the identification and management of their concerns. Actual Own Op. Human Rights Policy • European Committee representing all countries integrated within its perimeter. • Communication channels. - PPR1 R n/a Disciplinary sanctions for non-compliance with workers' rights and working conditions. n/a Own Op. Human Rights Policy - Human rights in working conditions PPR4 I + As a result of the risk assessment carried out on the supplier approval platform, the adoption of more responsible and safe labor practices is promoted, contributing to improving the working conditions of workers in the supply chain. Actual Own Op. Human Rights Policy Gestamp has a due diligence process in place to ensure the proper implementation of its Human Rights Policy. This process allows for the establishment of mitigation measures should significant risks be identified. Yes PPR9 O n/a Improved reputation thanks to the perception that stakeholders have of the company's commitment to defending and respecting human rights. n/a Own Op. Upstream Human Rights Policy Gender equality and equal pay for work of equal value PPR8 O n/a Improved employee motivation as a result of equality, diversity and inclusion policies and plans, fostering an increase in their performance. n/a Own Op. • Policy on Equality, Diversity and Inclusion • Fixed and Variable Compensation Policy • Selection Policy • Implementation of an Equality Plan and development of policies for hiring women. • Adapting spaces for people with functional diversity and promoting their hiring. Yes Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 For more information on the specific objectives set, see chapter "S1–5: Goals related to the management of significant negative impacts, the promotion of positive impacts, and the management of significant risks and opportunities." These objectives are related to the supplier qualification process, as this is where the incident and the risk are identified. 232
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. SBM-2: Interests and opinions of stakeholders. Gestamp's ongoing expansion and internationalization have presented significant challenges in terms of corporate culture, organizational structure, and human resource management. The company has aligned its strategy and business model with the needs, expectations, and rights of its employees, recognizing them as a key stakeholder group. Therefore, the evolution of the organizational structure, workforce adjustments, process standardization, training in new technologies, talent development, and the promotion of corporate culture have all been carried out while ensuring respect for human rights, employee participation, and well-being. These elements have been essential to guaranteeing sustainable growth aligned with the interests of everyone at Gestamp. For more information see SBM-2. SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model. The double materiality analysis is conducted at the Group level, incorporating all geographies in which the company operates and all links in its value chain, including its own activities and its commercial relationships, both upstream and downstream. Additionally, specific studies are carried out in locations with significant activities to assess the importance of the impacts when deemed necessary (See IRO-1 for more information on the analysis methodology). Regarding employment types, Gestamp classifies its workforce into the following main categories: direct labor, indirect labor, and structural labor. It also employs both direct and external workers within these employment categories. All of these categories were considered in the double materiality analysis. Therefore, Gestamp employees most exposed to occupational hazards are those categorized as direct labor, as they perform their duties in close contact with heavy machinery. However, Gestamp has a health and safety system in place to prevent or minimize any significant impacts. In the case of impacts: • Positive aspects: Gestamp is committed to the well-being and development of its employees, recognizing the crucial role they play in the company's growth. Therefore, it offers training programs, health and safety initiatives, and promotes diversity, equality, and inclusion within the company. This approach has a clear positive impact, recognized not only by the company itself but also by its employees. 233
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• Negatives: In 2025 Gestamp has not identified any impact of relative importance on its own workforce. No significant impacts on staff have been identified as a result of the transition plans to reduce negative environmental impacts, nor have any operations been identified with a significant risk of forced or child labor. For more information see SBM-3. 234
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S1–1: Policies related to own personnel Social aspects play a key role in the development of the Gestamp Group’s activities. Specifically, employees are the cornerstone of the company. As such, every effort is made to provide them with the training and tools needed for their professional growth, focusing on upskilling and reskilling to develop their talent regardless of age, gender, race or nationality. The continuous growth and internationalisation of Gestamp has led to significant challenges in terms of culture, organisation and human resource management. The constant adaptation of the organisational structure to the growing needs of the Group, as well as workforce resizing, process standardisation, training in new technologies, talent management and the fostering of the corporate culture have all played a key role for Gestamp. Therefore, six key policies have been defined in relation to the Code of Conduct to respond to the challenges faced by the Group : 1 The Code of Conduct is described in the ESRS G1 Business Conduct. Human Rights Policy PPR3, PPR4 and PPR9 Gestamp is committed to respecting human rights recognized in international frameworks in all its activities and in all markets where it operates: • The United Nations International Bill of Human Rights, comprising the Universal Declaration of Human Rights; the International Covenant on Civil and Political Rights and the International Covenant on Economic, Social and Cultural Rights. • the International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work and its fundamental conventions, • the Organisation for Economic Co-operation and Development Guidelines for Multinational Enterprises, • the Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy, • the United Nations Guiding Principles on Business and Human Rights and • the United Nations Global Compact. 235
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Therefore, it has established certain basic principles of action applicable to both its direct and indirect activities and a due diligence mechanism aimed at preventing, mitigating and remedying any possible negative impact on human rights. This process also includes raising awareness across the value chain, encouraging employees, suppliers and other partners to know and respect the international principles on human rights. Prohibition of child labor Fair wages and benefits Protection of migrant workers' rights Product and service safety Eradication of forced labor, human trafficking and modern forms of slavery Respect for working hours Protection of local communities' rights Abstention from purchasing minerals from conflict zones Non-discrimination Respect for the right to union association and collective bargaining Environmental conservation Monitoring the use of public or private forces In addition, robust risk management mechanisms for human rights are defined, including accessible and confidential channels for submitting claims, inclusive consultation processes with stakeholders, and the implementation of appropriate corrective measures in the event of confirmed violations. This policy applies to all employees of the Gestamp Group, as well as subcontractors, suppliers, partners, and collaborators, and has been approved by the Group's Board of Directors. In countries where national laws may conflict with respect for human rights, precise risk control and mitigation measures shall be established without violating the laws in force, in order to guarantee a minimum standard in terms of human rights. The Sustainability Committee, together with the ESG Department, supervises the functioning of the policy and monitors implementation. This policy is available to interested parties on the Group's corporate website. For more information see: Human Rights Policy In line with the Code of Conduct, Gestamp’s Human Rights Policy establishes its own due diligence process to identify any real or potential risks of human rights violations that may arise in the course of Gestamp’s normal activities: 236
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Policy on Equality, Diversity and Inclusion PPR6 and PPR8 The purpose of this Equality, Diversity and Inclusion Policy is to achieve a positive environment that facilitates and encourages equal opportunities, non-discrimination, diversity and inclusion for all employees of the companies belonging to the Gestamp Group. Therefore, we advocate a people management model committed to professional excellence and quality of life. This is in line with the laws in force in each country, and following best international practices such as those set out in the Sustainable Development Goals (SDG) approved by the United Nations (UN) in this regard, specifically SDG 5 on Gender Equality and SDG 10 on Reduced Inequality. This Policy is applicable to all organisational areas, all members of the governing bodies and to the workforce who are contractually bound to the companies comprising the Gestamp Group, i.e. Gestamp Automoción, S.A. and the companies in which it has a controlling interest. Gestamp Group’s Equality, Diversity and Inclusion Committee is responsible for interpreting this Policy as regards any queries, requests for authorisation, information and the writing up of reports relating to the different sections of this Policy. Each Management Division shall actively foster the dissemination of the Policy, and shall be responsible for creating, implementing and ensuring compliance with Equality Plans to be applied in their scope of action. They must also ensure the long-lasting implementation of the Policy. It is also available to interested parties on Gestamp's corporate website. This Policy has been approved by the Company’s Board of Directors, following a proposal by the Sustainability Committee. For more information see: Equality, Diversity and Inclusion Policy 237
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Hiring Policy PPR6, PPR8 and PPR10 The purpose of the Hiring Policy approved by the Human Resources Department (the body ultimately responsible for the policy) is to standardise the key elements of all hiring processes at Gestamp Group in terms of phases, milestones and responsibilities to ensure that such hiring processes are effective and uniform, thus guaranteeing that each new hire is a perfect fit in the position and in the Organisation. Another aim sought in the development of this policy is to avoid discrimination of any kind based on gender, race, nationality or religion during hiring processes. In order to measure and track the quality of the hiring processes as regards both the level of implementation of this procedure and the effectiveness of the hiring processes, certain KPIs and metrics have been established and are displayed in a dashboard to enable monitoring. This policy applies to all new hires made at Gestamp for structural and indirect labour positions and has been developed in accordance with Gestamp's needs. This policy is confidential and is for the exclusive use of the Human Resources area. Training and Development Policy PPR2 and PPR6 The Training and Development Policy, a new version of which was approved in 2025 by the General Directorate of Human Resources (the body holding ultimate responsibility), lays the groundwork for any training system at Gestamp in terms of phases, milestones and responsibilities. This policy also aims to guarantee a sound, effective process overall for knowledge acquisition and transfer, thus responding to current and future needs of the business. The learning and development process is exhaustive and spans from identifying employees’ training and development needs to assessing the efficacy of the process. This policy ensures non-discrimination based on race, religion, sex, age, nationality, sexual orientation, gender identity, marital status or disability during learning and development processes. Each year, the Corporate Training and Development area sets a schedule for follow-up meetings with the local Training and Development areas to review and supervise compliance with the policy. This policy applies to all Gestamp employees (including structural staff, direct and indirect workforce) and external employees according to the labour legislation of each country. This policy, which is available to the training and development area, establishes the procedures for communicating training activities. In addition, specific training on the policy is made available to all Managers through Global Learning. 238
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Additionally, in 2025, the General Directorate of Human Resources approved the Master's Degree Policy as a strategy to strengthen the skills and knowledge of our people, boosting Gestamp's competitiveness. Fixed and Variable Compensation Policy PPR8 and PPR10 The Fixed and Variable Remuneration Policy, approved by the General Directorate of Human Resources (the body holding ultimate responsibility), establishes the structure, management model and governance system for short-term fixed and variable remuneration in all Gestamp Group companies. • Fixed pay: comprising the basic salary paid to employees for their skills, experience and responsibilities, bearing in mind the level and scope of their position, including wage supplements. • Variable pay: aimed at rewarding employees’ efforts, aligning our interests and motivating them. The evaluation contains individual goals set at the start of the year by the manager of each employee, affecting a percentage of the employee's annual variable remuneration, which consists of the following elements and relative weightings: ◦ Financial goals: 50%; ◦ Strategic goals: 25%, including ESG goals, and ◦ Personal goals: 25%. This document contains the main guidelines for managing employee remuneration, ultimately geared toward attracting, motivating and retaining the best professionals and ensuring that the pay structure is linked to Gestamp’s mission, vision, values and processes. The application of the principles established in this policy allows Gestamp to link remuneration to objective criteria to promote equity and ensure that no type of wage discrimination is committed. This policy is confidential and is for the exclusive use of the Human Resources area. It has been developed in accordance with the strategic needs of the Gestamp Group and is periodically reviewed to ensure its suitability regarding business performance and the labour environment. Health and Safety Policy PPR1, PPR5 and PPR7 The Gestamp Group is committed to offering its employees, and employees of third- party companies providing services in our facilities, a safe and healthy work environment. The Group’s Health and Safety Policy seeks to define the commitment and principles assumed by the Gestamp Group in terms of the health and safety of its employees. The Gestamp Group's principles regarding occupational health and safety, which all employees must follow, are as follows: 239
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• Health and safety issues must be integrated into daily tasks and decision- making both in the design phase of workplaces, each facility to be used, or each piece of equipment and during their operation. • Preventing occupational accidents and diseases is the essential aim of this Policy. This is achieved by preventing and minimising the risks posed to people. Therefore, we undertake continuous improvement and actions based on risk analysis. • Complying with the legislation of all countries in which the Gestamp Group operates. However, this policy goes beyond what is required by law in most cases. • Risks that are important due to their severity, that is, those that may lead to serious accidents, must be prevented or minimised using technical means. • By establishing suitable regulations and procedures, as well as training, we can control risks that we have not been able to prevent. • Under no circumstances should activity be placed before safety. This policy was approved by the Group’s Board of Directors and will be reviewed and updated on an ongoing basis. Any amendments must be approved by the Board. Finally, to ensure proper communication of the policy, there are channels in each of the facilities, as well as an anonymous corporate mailbox for anyone to submit questions, suggestions, and good practices. All correspondence received through these channels shall be analysed and a response shall be given as promptly as possible. Likewise, through the Gestamp Health and Safety System management system, the creation of safety teams is promoted to be an active part in decisions related to occupational health and safety. These teams act as a link between the company and workers and help in communicating changes and updates. In addition, this Policy is also available to shareholders, employees and other stakeholders on the Company’s website (www.gestamp.com) and its content is referred to in the Gestamp Group's Sustainability Report. For more information see: Health and Safety Policy Health and Safety Management System (GHSS) Gestamp has a health and safety system known as Gestamp Health and Safety System (GHSS), which was developed to support plants in their quest to continuously improve safety. This management system is based on a balanced scorecard with a global indicator, the Gestamp Health & Safety System Indicator (GHSI), which was developed in-house and makes it possible to evaluate the safety system of all the plants in a homogeneous and consistent fashion. GHSS is a robust system that seeks ongoing improvement and takes into account both risk analysis and the definition of standards and procedures, as well as training, in order to ensure the safety and health of workers. 240
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The GHSS is integrated at all levels of the organization and implemented in 100% of Gestamp's production plants, unlike in Gescrap's plants, which have their own management system. 241
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Gestamp Health and Safety Indicator (GHSI) The Gestamp Health & Safety Indicator (GHSI) is a tool that ensures the same standards are applied across all plants in the Group, regardless of their size, production process or country. Thus, it is possible to assess and compare the health and safety performance of each plant using shared criteria. It is composed of 81 factors divided into three main blocks: Traditional indicators, Working Conditions and Prevention Management. Each factor is weighted differently, depending on the importance or magnitude of the associated risk. In addition, different safety levels are defined in each one. The greater the risk, the higher the weight. The final score is a weighted average from 0 to 100, with 0 being the most favourable situation. In 2026, a new factor related to the maintenance of Autonomous Transport Systems (AGVs, ARMs) is expected to be incorporated. This tool, with effective reach in all Gestamp production plants, centralizes the collection of information and periodically monitors good performance in occupational safety and health, promoting improvements in the prevention system and ensuring that the path defined in this Policy is followed.22 Responsibility and functions at all levels 242 22It does not include Gescrap, as it has its own management system.
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Plants manage health and safety with the same level of knowledge and standards that they use in their core business. The model is supported by senior management. Each year a Leadership Meeting is held, where the overall targets for improvement are established based on the Indicator. In addition, the results are submitted to the Board of Directors on a quarterly basis, along with a progress report on the corporate plans and other important matters. From the corporate level, support and monitoring are provided to the production plants, focusing on some specific factors of the GHSI indicator: specific training, definition and modification of equipment and workplaces, abnormal operations and interventions on machines. Corporate and divisional teams work together with production plants, generating support documents to meet the proposed objectives and maintaining close monitoring through quarterly meetings to validate the implementation of the factors. Steps taken in 2025: • Meetings with Division Managers to identify difficulties, best practices and/or needs of the plants for their achievement. • Annual October meeting with the Corporate and Divisional team to discuss the current situation and the need to boost compliance with the Plan. 243
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S1–2: Processes for collaborating with own workers and workers' representatives on incident matters Gestamp remains in active dialogue with its employees through direct communication channels23: Communication channels Typology Periodicity Corporate intranet Information More than once a year Internal bulletins Information More than once a year Suggestion boxes Consultation Available all year round "Speak Up Line"1 reporting channel Inquiry / Information Available all year round Performance appraisal tool Stake Once a year Direct contact with HR Inquiry / Information Available all year round Social networks Information Several times a year Regular meetings Information Once or twice a year Surveys Stake Once a year Health and Safety Mailbox Inquiry / Information Available all year round 1 For more information see the following section and G1-1. This affords information on employees’ views about aspects like the company’s sustainability strategy or the main issues that the company’s activities should focus on. As an example, employee surveys were an essential factor taken into account in the development of the double materiality analysis. Employees’ perspectives are taken into account specifically depending on the type of analysis, and the person ultimately responsible is defined. In relation to the double materiality analysis, through its Auditing and Sustainability delegate committees, the Board of Directors ensures that the opinions of the company’s main stakeholders are taken into account, thus providing a suitable outcome. The Internal Communication Department is responsible for communication taking place in the corporate intranet, internal newsletters, suggestion boxes and the social media. The Human Resources Department is in charge of the performance appraisal tool and direct contact with HR. Surveys and regular meetings are the responsibility of the relevant department calling the meeting. In December 2025, the "Leadership Meeting" was held with key representatives from all the countries where Gestamp operates. The meeting presented the main figures for the year's closing and outlined the principal strategies for the coming year. 244 23Furthermore, Gestamp is committed to respecting human rights recognized in international frameworks in all its activities and in all markets where it operates. These frameworks are listed in Chapter S1-1.
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S1–3: Processes for addressing negative incidents and channels for employees to express their concerns Gestamp has implemented a whistleblowing hotline to handle potential breach of the Code of Conduct and other regulations. This channel ensures confidentiality and protects the rights of the whistleblowers and the accused. The reporting channels include: • Human Resources Delegates : Employees can file reports through the Delegates, who report to the Compliance Office. • Compliance Office Mailbox: A corporate email address managed directly by the Compliance Office. • SpeakUp Line: Open since December 2016 and managed by an external company, reports can be filed by telephone, online form or email in all the Group’s languages. This channel is available to employees and other individuals related to the Group, who are informed about how to use it in mandatory training sessions. Reports are investigated promptly, applying the principles of confidentiality, non-retaliation and protection of personal data. If a violation is confirmed, the competent internal bodies shall impose penalties. For more information see chapter ’G1’. Bearing in mind the channels, the reports specified in ‘S1-17 Incidents, complaints and severe impacts’: 10 COMMUNICATIONS received by the delegates 72 COMPLIANCE OFFICE via email 187 SPEAK UP LINE sent In 2024, the communications received were 15 through delegates, 47 through email, and 128 through Speak Up Line. As of December 31, 71% of the communications received had been closed. As a result of the investigations carried out in the case of the complaints, appropriate measures have been taken where deemed necessary, including: 10 DISMISSALS of employees 6 SUSPENSION employment and salary 13 CAUTIONS written In 2024, the measures taken were the dismissal of 8 employees, 6 suspensions of employment and salary, and 17 written warnings. The existence and operation of the Whistleblowing Channel are part of the mandatory training in the Code of Conduct. As indicated in chapter G1-1, this training is completed 245
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by 100% of the staff, ensuring that all employees have the necessary information to use the channel appropriately and confidentially. Similarly, the "Whistleblowing Channel" section of chapter G1-1 refers to internal procedures and policies regarding this channel. S1–4: Adoption of measures related to material incidents involving own personnel, approaches to mitigating material risks and taking advantage of material opportunities related to own personnel, and effectiveness of such actions To ensure proper management of material impacts, risks and opportunities, Gestamp divides its lines of action into three areas: Human Rights, Talent and Health and Safety. With these actions, its policies and thanks to the Code of Conduct as a guiding principle (see chapter G1 for more information), Gestamp seeks to generate positive impacts on its employees while avoiding causing or contributing to the generation of negative impacts. As a result of the double materiality analysis, Gestamp does not identify any material negative impacts related to its own personnel, therefore no remediation actions are required. Human Rights The Gestamp Group is aware of the industrial community’s responsibility in terms of human rights, not only through its direct activities but also through all its business relationships. In 2024, Gestamp strengthened its commitment to human rights by undertaking a comprehensive review of its due diligence procedure in line with the standards set in the Corporate Sustainability Due Diligence Directive (CSDDD). These efforts were aimed at identifying, preventing, mitigating and, where necessary, remedying negative impacts on human rights and the environment stemming from our operations and those of our value chain. The review conducted in 2024 represents the first step in an ongoing process that will extend into subsequent years. The target is to ensure that the procedure covers the entire company's value chain, including not only direct operations but also other key stakeholders such as suppliers, contractors, and other relevant parties in all the geographies where the Group operates. In 2025, the definition of the human rights due diligence procedure for the Group's value chain continued, aligned with the requirements of the Corporate Sustainability Reporting Directive (CSDDD). The timelines associated with the progress of this initiative are necessarily conditioned by the current context of regulatory instability resulting from the Directive's entry into force. The approach adopted follows international best practices and seeks to: 246
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Expanded scope: Including a more in-depth analysis of the risks posed at each stage of the supply chain, in line with the UN’s guiding principles on business and human rights and the OECD Guidelines for Multinational Enterprises. Priority risk assessment: Identifying critical points in the value chain where significant risks could arise related to child labour, forced labour, gender equality, fair labour conditions and access to health and safety. Stakeholder engagement: Strengthening the mechanisms of dialogue with local communities, workers, trade unions and civil society organisations, promoting an inclusive, transparent approach. Review of reporting mechanisms: Bolstering the tools for gathering information to enable the Group to interact with its stakeholders and to establish effective measures to mitigate and remedy any impacts identified. Gestamp is committed to ensuring compliance with the CSDDD, aligning its processes with the values of respect for human rights and environmental sustainability. Through this ongoing approach, we seek not only to meet regulatory requirements but also to lead by example in our sector, promoting a positive impact. The ESG Department, composed of a corporate-level team of five professionals led by the Chief Sustainability Officer, is in charge of managing this topic and its related actions. This team works in close collaboration with the Human Resources Departments at each production plant, generally consisting of one or two people, and with the Plant managers, who are ultimately responsible for the activities at each facility. The effectiveness of this procedure and, therefore, of compliance with the Human Rights policy is evaluated by means of the periodic results of this Due Diligence in which no significant impacts on the human rights of Gestamp's employees have been identified during the 2024 and 2025 financial years. Talent In order to achieve the established targets and commitments and manage impacts, risks and opportunities of relative importance, the General Directorate of Human Resources establishes organizational structures at the corporate, divisional, regional and production center levels through the following lines of action: • Equality, diversity and inclusion : a common company culture is encouraged that transparently guarantees and promotes equal opportunities, fostering diversity in each of the locations where operations are conducted. • Compensation and benefits based on a common management model for the entire Group, which considers the specific remuneration characteristics of the different geographical areas where it operates. This model recognises the assumption of responsibilities, rewards extraordinary performance, both individual and collective, and avoids any type of discrimination in decision-making in this area. 247
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• Labour relations: developed in accordance with labour legislation that applies to each geographical area and promoting ongoing and constructive dialogue with workers’ legal representatives. • Recruitment and hiring of highly qualified talent, in line with the company’s values, through partnership initiatives with universities or comprehensive hiring processes. This guarantees the formation of diverse and committed teams, which is essential to maintain leadership in the automotive industry. • Talent development and training. Talent development and training in the required skills for people to perform well in their jobs and develop new skills in critical areas for the business in the medium and long term, in addition to leadership skills to fill key positions in the future. All of this comes in addition to the planning and analysis of the main metrics that enable decision-making and identification of staffing needs and the most suitable profiles at any given time. Personnel expenses incurred by the group in 2025 amount to 1,924.6 million (1,955.4 million in 2024). For further information see note 27 of the Consolidated Annual Accounts. EQUALITY, DIVERSITY AND INCLUSION Gestamp promotes diversity, recognising it as a key competitive advantage for its business, while it gives priority to equity and inclusion in its people management model. Gestamp respects the rights of equality and non-discrimination on the grounds of gender, sexual orientation, social origin, ethnic origin, age, disability and religion, among others. This is provided for in the company’s Code of Conduct and the sixth principle of the UN Global Compact, which the Group has complied with since 2008. GENDER DIVERSITY Following the approval of the Global Equality, Diversity and Inclusion Policy and the implementation of the Equality Plan in Gestamp’s management companies in 2023, the Group has continued to advance in increasing the recruitment of women, among other levers stemming from this plan. This is reflected in the percentage of female recruits, which grew from 22% in 2018 to almost 27% in 2025. This shows a positive trend, thanks in large part to the measures included in the Equality Plans at Group level and the awareness of the Group's HR teams. At Gestamp, women account for 20% of the Group's total workforce. The automotive industry clearly has plenty of work to do to reach gender parity, due in part to the traditional masculinisation of the sector and the continued underrepresentation of women in STEM careers (science, technology, engineering and maths). It is not always easy to find women in the selection processes for certain common positions in the automotive sector, such as tool and die makers, welders, or maintenance technicians. Even so, in some workplaces, there is almost parity between men and women. No impacts resulting from the company's double materiality analysis were described. For more information on gender diversity in the Group see S1-6 248
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FUNCTIONAL DIVERSITY Gestamp Group companies directly hire people with disabilities to facilitate their entry to the job market, and they also outsource products and services to special employment centres. For adaptations or the construction of new facilities, Gestamp hires local engineers that prepare the projects in accordance with local regulations, complying with all accessibility requirements. Furthermore, in order to make information more accessible, the Gestamp website meets all Level A criteria established by the World Wide Web Consortium (W3C)’s Web Accessibility Initiative (WAI). To continue progressing, a project has been developed this past year throughout Spain that seeks to foster inclusion and functional diversity in the Group’s labour setting. In conjunction with Fundación Gestamp, alliances have been identified with diverse associations that promote job placement for functional diversity profiles. This support was crucial for connecting with organisations that share our vision of an inclusive work environment. There are also inclusive hiring procedures in place, adapting interviews and tests to ensure they are accessible for all the candidates. These adjustments include adapting formats and timing, as well as providing the support needed throughout the hiring process. In relation to this, internal awareness-raising campaigns aimed at the recruiting teams are being developed. These campaigns are intended to create awareness and educate about the importance of functional diversity in the workplace. This effort is monitored through the ESG 23-25 Plan, which tracks the percentage of employees with disabilities in the Gestamp workforce, reaching 2% in 2024 and 2025. The failure to achieve the 2025 target of 3% of employees with disabilities is explained by the heterogeneity of legal and accounting frameworks between countries, as well as the lack of standardized identification and monitoring systems. Additionally, in some regions, the target was not fully integrated at the operational level. For more information see S1-12 249
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RECRUITMENT AND HIRING TALENT ATTRACTION In 2025, Gestamp made progress in consolidating a global Talent Attraction and Selection model aimed at guaranteeing business sustainability and anticipating key capabilities for a more technological, digital and global industry. No negative impacts have been identified as a result of the double materiality analysis; therefore, no remediation actions or corrective measures are required. During the year, a structured plan for presence in universities and educational centres was deployed, which has allowed for the expansion of channels for approaching junior talent in different geographies. In this context, we would highlight the launch of the ninth edition of the Master's Degree in International Industrial Project Management, developed in collaboration with Comillas Onexed, in which 26 international university graduates are participating. The programme reinforces the commitment to global, diverse and multilingual talent capable of managing complex projects in international environments, with a special focus on the automotive sector. It is an initiative aimed at reinforcing our global talent pipeline for a key and cross-cutting position such as Project Manager. Participants, in addition to developing relevant knowledge in an initial theoretical phase on the Onexed campus, have the opportunity to immerse themselves in key projects to develop the fundamental skills for the role, collaborating with expert teams and supported by a mentor who catalyses their growth. Likewise, Gestamp has promoted a new edition of the ICEX VIVES programme, facilitating international internship opportunities for 23 young professionals who are integrated into real projects in different plants and functions of the company. With the aim of improving the quality and efficiency of selection processes, significant progress has been made in the Global Selection Roadmap, focused on: 1. Efficiency and data quality, through system updates, workflow automation, and a greater data-driven approach to decision-making. 2. Global standardization, implementing new interview protocols, assessment tools, specific tests and gamification solutions that reinforce objectivity and transparency. 3. Integration of the statements defined in Gestamp's success profile ensuring that corporate culture and expected behaviors guide all hiring and onboarding decisions. Presence in the university and technological ecosystem has intensified through university fairs, innovation challenges and academic competitions. Examples of these are initiatives developed by our corporate HR team such as the launch of a Gestamp Business Case with CUNEF, with the participation of more than 100 students, and the second edition of the INDESIA Hack, in which young talents collaborated in solving real business challenges in areas such as digitalisation and connected industry. Overall, the 2025 initiatives consolidate a more current, global and data-centric talent attraction and selection proposal, reinforcing the Group's long-term sustainability and 250
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ensuring the incorporation of strategic profiles to drive innovation, competitiveness and responsible growth at Gestamp. The future continuity of all these initiatives depends on the evolution of internal needs and the availability of external partnerships. Therefore, it is currently not possible to establish a defined timeline for their maintenance or replication. TALENT DEVELOPMENT AND TRAINING TALENT DEVELOPMENT The process of developing and retaining talent is essential for the Group to have the best professionals and ensure the success of its strategy. The scope and continuity of talent development initiatives largely depend on the organisation's growth pace and its expansion into new markets or geographies, making it impossible to set fixed timelines. In 2025, the efforts to strengthen the talent management programme on a uniform basis across all regions continued. Thus, the Group's talent is identified by a combination of two variables: employee performance and potential. In order to do this, an assessment process is carried out for a large section of the organisation, the results of which are reviewed on a yearly basis by the heads of each organisation and their Human Resources teams. No negative impacts have been identified as a result of the double materiality analysis; therefore, no remediation actions or corrective measures are required. Additionally, this year a mid-year review phase has been incorporated into the evaluation process, which allows managers to offer consistent feedback, oriented towards employee development and adapted to business circumstances, promoting continuous improvement and alignment with strategic objectives. In 2025, a general initiative was launched for all employees classified as structural workforce and indirect workforce with teams under their responsibility, achieving a rate of 94% for evaluated employees compared to those with an assigned evaluation process, compared to 95% in 2024. GROUP-WIDE TRAINING Once the Corporate Training and Development Policy and the new Master's Policy were deployed, we continued to carry out a series of initiatives to strengthen the learning culture, knowledge sharing and collaboration among employees, and the implementation of practices and tools that facilitate learning and continuous improvement. This allows for the regular monitoring of total training hours, the number of participants, and the ratio of training hours per employee, as well as its evolution over time. Each of these actions contributes to achieving the group's training target included in the ESG Plan and is aligned with the company's strategic objectives. For more information see the following sections. 251
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Inauguration of GTI Mexico In February 2025, Gestamp Technology Institute (GTI) inaugurated a new training centre in Mexico, strengthening its commitment to the development of our employees' talent and innovation in the automotive industry, as well as enhancing training across the Americas. Inspired by the success of GTI in Spain, this centre offers training programmes in technologies and leadership development aligned with current sector trends. Since 2015, the Gestamp Technology Institute (GTI) in Spain has been responsible for designing programmes for the development of the Group's technological, functional and leadership skills. Anticipating the needs of new automotive trends, GTI has constantly adapted its global learning programmes to the latest innovations in technologies and processes, with the dual objective of attracting talent and standardising internal training programmes, following a learning by doing methodology. One of the most notable initiatives since the opening of GTI Mexico is the training in New Hot Stamping Technologies, received by 73 employees. Throughout 2026, GTI Mexico and the Gestamp Technology Institute in Spain will continue to develop training programs, reinforcing the commitment to our employees and innovation. Global Programs Leadership and Management Development In 2025, we launched the first edition of Accelerators, a global program to boost development and prepare our people to lead Gestamp's future, which will conclude in 2026. This initiative focuses on four key areas: • Strategic thinking • Innovation • Leadership • Driving change This first edition involves 84 employees from 15 functional areas and 13 countries, bringing diversity and new perspectives that enrich the learning experience. Likewise, and with the aim of developing critical profiles for our operations, in 2025 we launched two parallel editions of the Plant Manager Development Programme at GTI Mexico and GTI Europe. This programme, designed by Gestamp, develops the leadership, management, financial and operational skills of future industrial directors. The delivery is carried out by both external providers and internal experts. 252
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Lastly, the 2025 Training Programme for members of the Board of Directors was aligned with the company's strategic objectives and structured around the Chinese automotive market and Artificial Intelligence. To this has been added e-learning content to which they have had access through the Gestamp Global Learning virtual campus on the subject of prevention of corruption, bribery and fraud. This information is included in GOV-1. ON-SITE TRAINING Employees are mainly trained in the workplace, which is a highly practical approach as it guarantees they develop knowledge of the Group’s industrial processes and allows them to constantly adapt to technological innovation and customer requirements in areas such as safety, weight reduction and sustainable transport. For more information, see S1-13. REMUNERATION AND BENEFITS Benefits Gestamp reaffirms its commitment to sustainability, efficiency and continuous improvement in the value proposition for its employees, contributing to the benefits offer for its workers reflecting corporate values, fostering a culture of inclusion and belonging, and promoting their comprehensive well-being. During 2025, the company has advanced in various strategic lines of action: • Global strategic alliance: The organisation formalised an agreement with a global partner to optimise benefits management, generating efficiencies that will translate into improvements for both employees and the company. This process has been accompanied by a comprehensive analysis to identify differences compared to the market, which allowed defining actions aimed at strengthening the offer and improving competitiveness, likewise guaranteeing equity. • Sustainable mobility: Gestamp remains committed to sustainable mobility, and continues to drive the transition towards more sustainable vehicles in the company's fleet globally, aligning the mobility strategy with the Group's environmental objectives. • Improvement of the benefits offer in key countries: As part of the global strategy to improve the employee value proposition, actions were initiated that guarantee equity and inclusion in all operations. Among the first advances of 2025, the following stand out: ◦ Spain: Implementation of a single provider to administer the flexible remuneration programme in all companies in Spain, incorporating services such as telemedicine, wellness applications, access to gyms, employee discounts, leasing of private cars or acquisition of 0 km vehicles, among others. ◦ United States: Launch of a flexible benefits plan to contribute to improving the financial well-being of employees. 253
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◦ India: Introduction of company cars for the management team, in order to improve the competitiveness of the value proposition, and with it the ability to attract and retain talent. These initiatives are mainly financed with the efficiencies derived from strategic alliances, reinforcing Gestamp's vision of offering programmes adapted to local conditions, ensuring a common minimum of benefits and promoting the physical, emotional and social well-being of employees and their families. The employee value proposition will continue to be a central axis in the benefits strategy during 2026, with the aim of enhancing the collaborator experience and contributing to the sustainability of the business. LABOR RELATIONS Flexibility and work-life balance measures Given the nature of the business, at Gestamp’s production plants, groups classified as Direct and Indirect Labour have to work in shifts. However, Gestamp promotes shift rotation with the aim of facilitating the adjustment of working hours to workers’ specific needs. For office-based workers in many regions, remote work measures have continued to be employed, in addition to other measures that promote flexibility and a good work- life balance, such as flexible working hours. 254
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Occupational Safety and Health Health and Safety management at Gestamp is integrated at all levels of the organisation, from day-to-day tasks to company decisions, so as to ensure safe working conditions and facilities. Gestamp's health and safety system (GHSS) allows for the integration of minimum mandatory standards at each plant regardless of country, legislation or culture. The GHSS is integrated at all levels of the organisation and implemented in 100% of Gestamp's production plants, although this is not the case in Gescrap's plants, which have their own management system. Once again, there have been no fatal accidents or deaths due to occupational illness at the Gestamp Group, considering both its own employees and employees in the value chain who work at Gestamp sites, which is a milestone for an industrial group. Taking into account the robustness of GHSS and the organisation’s commitment to Health and Safety, in 2022, a decision was made to certify the system under the international standard ISO 45001. In record time, most of the Group's plants have achieved ISO 45001 certification through the multi-site model (except for the 4 plants located in Russia, due to the war in Ukraine). CONTINUOUS IMPROVEMENT One of the keys to the success and smooth operation of GHSS is its commitment to continuous improvement in all aspects: • Internal audits and reviews. • Regular follow-up meetings with local and regional teams. • Development of digital resources to address the most critical topics: accident reports and videos, machine safety standards, technical safety reports, and specific management guides. • Internal communication: publication of a catalog of good practices, annual objectives and quarterly reports of the Indicator, news of interest and discussion forums. • Open communication channel with any Gestamp employee through a dedicated email inbox. • Active collaboration with corporate departments to raise awareness and improve the system. Participation in industry associations and forums. • Comparative analysis activities with other companies. 255
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INTERNAL AUDIT SYSTEM On-site plant audits every two years (2-5 days) Quarterly remote audits When a plant enters the system, a full audit is conducted on site at the plant. In addition to assessing the safety conditions and prevention management, this is used to provide safety-related training to direct managers. Once it is part of the system, these audits are repeated every two years in order to ensure that the indicator continues to reflect the actual safety situation at the plant. They also allow the Group to verify on-site the progress of the improvements made and approved remotely each quarter, to refresh safety standards and to get first-hand feedback. In 2025, 50 plants were audited and in 2026 the forecast is for 44 internal audits g r o u p - w i d e . These are audits of factors that the plant aims to improve; they are conducted remotely through the use of an internally developed IT application. The plants must report their improvements in the first 15 days of each quarter. The improvements are first validated by the Division-level prevention managers, who act as advisors, then move on to the audit phase. The criteria followed are exactly the same as for full audits and the same auditors review them. The difference is that only the improvements proposed by the plants, which have been validated by their advisors, are audited. To guarantee the use of uniform criteria, there is a guide linked to the indicator that outlines the criteria. In 2025, 974 factors were reviewed, and the estimate for 2026, maintaining the trend of the previous two years, is 900 factors. Meanwhile, in 2024, 1,026 factors were reviewed. SAFETY ALERTS Serious accidents and incidents with implications for prevention within the Group are used as an awareness-raising measure. The investigation carried out by the plant, together with a video or photographs of the event are shared via the prevention web community. This information is completely anonymous. The important thing is not where it happened, but that it happened at a Group work site, and we must prevent the situation from repeating itself in another. Since the launch of the initiative, 42 Safety Alerts have been published with great success. 256
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S1–5: Goals related to the management of significant negative incidents, the promotion of positive incidents, and the management of significant risks and opportunities Gestamp considers its workforce a key pillar of its ESG strategy, promoting a safe, inclusive, and motivating work environment. The company prioritizes the health and safety of its employees, fosters their professional development through continuous training, and is committed to diversity and equal opportunities. Furthermore, it maintains ethical and responsible labor relations, thereby strengthening the commitment and well-being of its team, which directly contributes to its competitiveness and long-term sustainability. Thus, three of the eight pillars of Gestamp's ESG 23-25 Plan are directly related to the workforce, incorporating specific targets and clear commitments at the Group level to guarantee their implementation and compliance. These pillars reflect the company's commitment to its employees. In defining this plan, multiple factors were taken into consideration to understand the perspectives of the various stakeholders and thus be able to define the main lines on which the Group should act, among them the following stand out: the result of the 2022 materiality analysis (and revised with the double materiality analyses of 2023 and 2024 and its 2025 review), public information from peers, employee surveys, customer requirements, etc. 257
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S1-5(1) Pilar Target/Commitment Linkage with policies 2025 Goal 2025 Result 2024 Result Baseline year (BY) ETHICS AND GOOD GOVERNANCE Implementation of a Human Rights Due Diligence program aligned with the highest standards. Human Rights Policy Encourage operations and suppliers to comply with international human rights standards. Done Done In develop ment n/a Percentage of women on the Board of Directors1. Policy on Equality, Diversity and Inclusion Promote gender equality and diversity at all levels of the organization. 40 % 42 % 33 % n/a ESG training for the Board of Directors. Training and Development Policy To ensure a robust and effective process of knowledge acquisition and transfer at a global level and thus respond to the needs of today's and tomorrow's business. 1 per year 1 1 n/a SAFETY, HEALTH AND WELL-BEING Percentage of plants audited with H&S criteria. Health and Safety Policy To provide employees, and employees of third-party companies providing services at Gestamp's facilities, with a safe and healthy working environment. 100 % 135 % 86 % n/a Health and Safety Index (HISM)2 <45 32 35 n/a Safety and Health Management Index (WC)3 <45 32 35 n/a Percentage reduction in the accident frequency ratio. -5% -8% 21,4 % 2021 TALENT Number of training programs in digitization and EV. Training and Development Policy To ensure a robust and effective process of knowledge acquisition and transfer at a global level and thus respond to the needs of today's and tomorrow's business. 6 10 5 n/a Development of programs for leaders. 1 1 1 n/a ESG training offers to Gestamp employees. 1 1 1 n/a Percentage of new female hires1. Policy on Equality, Diversity and Inclusion Promote gender equality and diversity at all levels of the organization. 27 % 27 % 27 % n/a Development of D&I Plan1. Done Done Done n/a Percentage of people with functional diversity1. 3 % 2 % 2 % n/a To learn how stakeholder perspectives were considered in defining the targets of the 2023-2025 ESG Plan, see chapter "SBM-1: Strategy, Business Model and Value Chain". The scope of the targets is the Gestamp Group. 1. Additionally, it is linked (albeit secondarily) to the Selection Policy, which prevents discrimination based on gender, race, nationality, or religion during the selection process. This indicator is calculated as the weighted average of new hires since the plan's inception. 2, 3 Weighted average of each index according to the hours worked per division. 4 Number of accidents resulting in sick leave due to occupational diseases/1,000,000 hours worked (own and subcontracted employees). The methodologies for gathering information on the targets shown above are fully aligned with the information shown in the current sustainability report. The following table outlines the targets and commitments of the ESG 26-30 Plan: 258
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Pilar Targets/ Commitme nt Description Linkage with policies Baseline year (BY) 2030 ETHICS AND GOOD GOVERNANCE Target Maintain a minimum of 40% women on the Board of Directors. Policy on Equality, Diversity and Inclusion Promote gender equality and diversity at all levels of the organization. N/A >=40% SAFETY, HEALTH AND WELLBEING Target Internal audits at GHSS Health and Safety Policy To provide employees, and employees of third-party companies providing services at Gestamp's facilities, with a safe and healthy working environment. 2026 100 % Target Health and Safety Management and Working Conditions in Health and Safety N/A <45 Target External audits N/A Increase TALENT Target 24 hours of annual training per employee in a minimum of 4 divisions Training and Development Policy To ensure a robust and effective process of knowledge acquisition and transfer at a global level and thus respond to the needs of today's and tomorrow's business. N/A >=24 Target Average female hiring rate of 27% between 2026 and 2030 Policy on Equality, Diversity and Inclusion Promote gender equality and diversity at all levels of the organization. N/A >=27% Commitmen t Launch of a Group-wide engagement survey Training and Development Policy To ensure a robust and effective process of knowledge acquisition and transfer at a global level and thus respond to the needs of today's and tomorrow's business. N/A 1 259
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S1–6: Characteristics of the company's employees The global workforce as of 31 December 2025 was 42,466 direct employees (a reduction of -3% compared to direct employees as of 31 December 2024). This means being at the same pre-covid staffing levels, year-end 2019, in which the company had accumulated an organic growth rate of 51.8% after the three major business acquisitions in 2010 and 2011. Workforce per gender and region1 (number of people) Men Women Number of salaried employees Country 2025 2024 2025 2024 2025 2024 Germany 3094 3.450 340 381 3.434 3.831 Argentina 594 750 58 73 652 823 Brazil 4089 4.196 909 863 4.998 5.059 Bulgaria 178 156 43 52 221 208 China 3842 4.177 960 1.022 4.802 5.199 South Korea 227 227 3 6 230 233 Slovakia 257 283 138 171 395 454 Slovenia 1 0 0 0 1 0 Spain 5146 4.988 1181 1.151 6.327 6.139 USA 3078 3.107 932 914 4.010 4.021 France 1270 1.300 294 298 1.564 1.598 Hungary 356 323 176 159 532 482 India 1205 1.050 87 69 1.292 1.119 Japan 118 106 20 20 138 126 Lithuania 1 0 0 0 1 0 Morocco 269 246 20 26 289 272 Mexico 2404 2.389 1002 1.022 3.406 3.411 Poland 907 923 284 295 1.191 1.218 Portugal 809 741 484 447 1.293 1.188 United Kingdom 1437 1.596 196 227 1.633 1.823 Czech Republic 880 883 542 600 1.422 1.483 Romania 507 540 411 429 918 969 Russia 74 174 30 100 104 274 Sweden 211 216 50 46 261 262 Thailand 2 4 14 10 16 14 Taiwan 13 13 3 3 16 16 Turkey 2874 3.072 446 463 3.320 3.535 Total 33.843 34.910 8.623 8.847 42.466 43.757 The information has not been restated for the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. The table includes the company's own template as of December 31, 2025. 1 This information can be found in Note 27 of Gestamp's Financial Statements. Furthermore, HR information collection systems only consider male and female genders. 260
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The most significant increases in workforce occur in Asian countries: Japan +10%, Thailand +14%, and India +15%. Argentina and Slovakia experience workforce reductions of 21% and 13%, respectively, to optimise their costs and improve their efficiency. 261
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Workforce per contract type, gender and country (number of people) 2025 Country Permanent Temporary1 Full-time Part-time H M H M H M H M Germany 2.888 302 206 38 3.040 275 54 65 Argentina 594 58 0 0 594 58 0 0 Brazil 4.062 901 27 8 4.088 908 1 1 Bulgaria 178 43 0 0 178 43 0 0 China 3.512 785 330 175 3.589 824 253 136 South Korea 225 3 2 0 225 3 2 0 Slovakia 234 107 23 31 256 138 1 0 Slovenia 1 0 0 0 1 0 0 0 Spain 4.921 1.119 225 62 4.994 1.125 152 56 USA 3.042 928 36 4 3.072 929 6 3 France 1.232 287 38 7 1.248 281 22 13 Hungary 356 176 0 0 356 176 0 0 India 1.049 57 156 30 1.205 87 0 0 Japan 116 20 2 0 113 19 5 1 Lithuania 1 0 0 0 1 0 0 0 Morocco 121 19 148 1 269 20 0 0 Mexico 2.189 862 215 140 2.401 1.002 3 0 Poland 713 228 194 56 904 279 3 5 Portugal 681 406 128 78 806 484 3 0 United Kingdom 1.390 188 47 8 1.432 192 5 4 Czech Republic 740 455 140 87 867 517 13 25 Romania 507 411 0 0 506 411 1 0 Russia 73 26 1 4 73 28 1 2 Sweden 207 41 4 9 206 48 5 2 Thailand 2 14 0 0 2 14 0 0 Taiwan 12 3 1 0 13 3 0 0 Turkey 2.874 446 0 0 2.874 446 0 0 Total 31.920 7.885 1.923 738 33.313 8.310 530 313 The scope of the information in 2025 represents 100% of the companies within the Group's financial consolidation perimeter. M: Men; F: Women. 1 The 2,661 fixed-term or temporary contracts include training contracts and internship contracts. 262
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2024 Country Permanent Temporary1 Full-time Part-time H M H M H M H M Germany 3.045 317 405 64 3.378 311 72 70 Argentina 742 68 8 5 749 71 1 2 Brazil 4.097 821 99 42 4.196 862 0 1 Bulgaria 156 52 0 0 156 52 0 0 China 3.630 791 547 231 3.715 829 462 193 South Korea 225 6 2 0 225 6 2 0 Slovakia 200 103 83 68 282 170 1 1 Spain 4.708 1.054 280 97 4.807 1.086 181 65 USA 3.069 905 38 9 3.099 909 8 5 France 1.265 289 35 9 1.279 282 21 16 Hungary 323 159 0 0 323 159 0 0 India 920 41 130 28 1.050 69 0 0 Japan 104 18 2 2 101 20 5 0 Morocco 128 13 118 13 246 26 0 0 Mexico 2.072 892 317 130 2.388 1.021 1 1 Poland 648 198 275 97 920 289 3 6 Portugal 624 370 117 77 738 447 3 0 United Kingdom 1.551 218 45 9 1.591 221 5 6 Czech Republic 699 463 184 137 874 579 9 21 Romania 540 429 0 0 540 429 0 0 Russia 171 95 3 5 173 98 1 2 Sweden 207 42 9 4 215 46 1 0 Thailand 4 10 0 0 2 5 2 5 Taiwan 12 3 1 0 13 3 0 0 Turkey 3.072 463 0 0 3.072 463 0 0 Total 32.212 7.820 2.698 1.027 34.132 8.453 778 394 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter. M: Men; F: Women. 1 The 3,725 fixed-term or temporary contracts include 511 training contracts and 68 internship contracts. All fixed-term contracts (6% of the total, excluding apprenticeship contracts) formalized within the group are for temporary production needs or to cover absences. The fixed duration of these contracts is clearly specified in the employment agreement between the employee and the company. Gestamp does not offer contracts for non-guaranteed hours. 263
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Employees who have left the company and voluntary turnover rate Voluntary withdrawals (NP)1 Turnover rate (%) Country 2025 2024 2025 2024 Germany 235 238 7,1 % 6,9 % Argentina 63 87 8,5 % 9,9 % Brazil 262 224 5,2 % 4,5 % Bulgaria 38 44 17,2 % 21,3 % China 450 609 10,3 % 13,6 % South Korea 47 34 20,5 % 17,0 % Slovakia 21 35 6,1 % 12,1 % Slovenia 0 0 — % — % Spain 131 230 2,2 % 4,0 % USA 806 925 19,9 % 22,6 % France 63 71 4,1 % 4,6 % Hungary 101 112 20,6 % 24,4 % India 162 94 15,7 % 9,8 % Japan 19 17 14,1 % 14,8 % Lithuania 0 0 — % — % Morocco 39 14 27,7 % 11,4 % Mexico 392 490 12,8 % 16,0 % Poland 42 32 4,6 % 3,9 % Portugal 41 39 4,0 % 4,0 % United Kingdom 178 134 10,6 % 7,4 % Czech Republic 167 153 13,5 % 13,6 % Romania 328 193 28,7 % 20,3 % Russia 11 8 11,3 % 3,4 % Sweden 23 18 9,2 % 7,4 % Thailand 2 0 12,5 % — % Taiwan 0 0 — % — % Turkey 358 745 10,4 % 20,2 % Total Gestamp 3.979 4.546 9,8 % 11,2 % The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 1 Permanent staff who have voluntarily left the company. NP: Number of people. The turnover rate is calculated as the percentage of voluntary departures relative to the average number of permanent staff in each country. The countries with the highest increase in voluntary turnover are Morocco (+16 percentage points) and Thailand (+13 percentage points) during 2025. Meanwhile, Turkey has reduced its turnover (-10 percentage points) compared to 2024 due to the implementation of measures aimed at decreasing turnover. Gestamp has a tool for gathering information per plant in which each Human Resources manager of each plant is responsible for the information. Thus, as noted previously, the information shown in the tables for “workforce per gender and region”, “workforce per contract type, gender and country” and “employees that left the company and turnover 264
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rate”, and other quantitative information where “number of people” is indicated at the end of the fiscal year. This information is linked to Note 27 of the Financial Statements. For more information see Annexes: Additional Information. 265
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S1–7: Characteristics of non-salaried workers in the company's own workforce Non-salaried workers (number of external people) Number of non-salaried workers1 Country 2025 2024 Germany 270 258 Argentina 2 37 Brazil 89 131 Bulgaria 9 11 China 1.418 1.479 South Korea 0 66 Slovakia 86 22 Slovenia 69 0 Spain 659 607 USA 467 652 France 586 649 Hungary 0 0 India 937 532 Japan 37 38 Lithuania 0 0 Morocco 27 49 Mexico 0 25 Poland 114 178 Portugal 312 312 United Kingdom 124 257 Czech Republic 176 197 Romania 0 14 Russia 3 25 Sweden 2 7 Thailand 24 25 Taiwan 0 0 Turkey 0 0 Total 5.411 5.571 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 1 The reported non-salaried workers are external employees hired through temporary employment agencies (job agencies), average of external contracts during the year. In December 2025, Gestamp will experience an average reduction of 3% in external contracts compared to the previous year's average. This is due to increased uncertainty in sector demand and reduced activity, resulting in the termination and reduction of externally contracted services. 266
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S1–8: Coverage of collective bargaining and social dialogue At Gestamp, labor relations are managed in accordance with the labor and union laws in force in each geographic area. All aspects of employee labor, employment, and contractual relations are negotiated with the union representatives at each production plant. In 2025, 64% of employees were covered by a collective bargaining agreement (68% in 2024). Most production plants have dedicated Occupational Health and Safety Committees. During 2025, 98% of plants had mechanisms in place for employee consultation and participation in occupational risk prevention (95% in 2024). In those geographical areas where it is required due to their history, culture or legal obligation, inter-center committees are available to complement the negotiation framework at the plant level. The company has a European Committee representing all the countries integrated within its perimeter, which includes a Working Group on Sustainability and another on Risk Prevention. Collective bargaining coverage 2025 2024 Coverage rate Salaried workers - EEA1 Salaried employees - Not EEA1 Salaried workers - EEA1 Salaried employees - Not EEA1 0-19% Hungary, Bulgaria, Lithuania United States, Czech Republic, Morocco, Russia, Taiwan, Thailand, South Korea Hungary United States, Czech Republic, Morocco, Russia, Taiwan, Thailand 20-39% India India 40-59% Portugal Mexico, China Portugal Mexico, China 60-79% Slovakia Argentina, Japan, Turkey United Kingdom, Slovakia, Romania South Korea 80-100% United Kingdom, Romania, Germany, Spain, France, Poland, Slovenia, Sweden Brazil Germany, Bulgaria, Spain, France, Poland Argentina, Brazil, Japan, Turkey 1 EEA: European Economic Area 267
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Collective Bargaining Coverage: Total Employees by Country and Year 2025 2024 Country Total Own Employees Total Employees covered by Agreement % Employees Covered Total Own Employees Total Employees covered by Agreement % Employees Covered Germany 3.434 3.296 96 % 3.831 3.742 98 % Argentina 652 496 76 % 823 740 90 % Brazil 4.998 4.962 99 % 5.059 5.059 100 % Bulgaria 221 0 — % 208 202 97 % China 4.802 2.163 45 % 5.199 2.095 40 % South Korea 230 2 1 % 233 185 79 % Slovakia 395 243 62 % 454 318 70 % Slovenia 1 1 100 % - - - Spain 6.327 5.403 85 % 6.139 5.957 97 % USA 4.010 74 2 % 4.021 105 3 % France 1.564 1.555 99 % 1.598 1.597 100 % Hungary 532 0 — % 482 0 — % India 1.292 283 22 % 1.119 351 31 % Japan 138 103 75 % 126 113 90 % Lithuania 1 0 — % - - - Morocco 289 0 — % 272 0 — % Mexico 3.406 1.657 49 % 3.411 1.734 51 % Poland 1.191 1.142 96 % 1.218 1.218 100 % Portugal 1.293 688 53 % 1.188 675 57 % United Kingdom 1.633 1.536 94 % 1.823 1.305 72 % Czech Republic 1.422 0 — % 1.483 0 — % Romania 918 911 99 % 969 676 70 % Russia 104 0 — % 274 0 — % Sweden 261 261 100 % 262 262 100 % Thailand 16 0 — % 14 0 — % Taiwan 16 0 — % 16 0 — % Turkey 3.320 2.462 74 % 3.535 3.450 98 % Total Gestamp 42.466 27.238 64 % 43.757 29.784 68 % The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. Gestamp places special emphasis on issues that are essential to the Group: respect for union and labour legislation, non-discrimination policies, compliance with the Code of Conduct, occupational health and safety, and training and development in key areas to ensure the correct implementation of the business strategy, which always follows the 268
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framework for fundamental rights at work set out in the International Labour Organization (ILO)’s agreements. Communication with employees and their representatives is fundamental for Gestamp as it allows open, trusting relationships to be built. The Group facilitates channels for two-way communication in order to provide employees with important information and gain a better understanding of their real concerns and worries. Each centre has its own formal channels for communication between the company and its employees. The most common channels are the local and corporate intranet, the internal newsletter, the satisfaction and organisational climate survey, the suggestion box and the information channels. Employees also have access to established communication channels at the Compliance Office through which they can report or submit queries regarding the Code of Conduct. The Group has a corporate intranet that provides information on the most significant matters relating to the organisation on a corporate, divisional, plant and individual level.. S1–9: Diversity parameters Regarding professional category: Professional category 2025 2024 Men Women Total Men Women Total # % # % # # % # % # Directors 369 85 % 67 15 % 436 312 87 % 47 13 % 359 Middle Management 1.246 1 299 0 1.545 1.034 80 % 258 20 % 1.292 Rest 32.228 1 8.257 0 40.485 28.902 80 % 7.282 20 % 36.184 Total 33.843 80 % 8.623 20 % 42.466 30.248 80 % 7.587 20 % 37.835 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. "Directors" is defined as: one and two levels below the administrative and supervisory bodies. In addition to the importance that Gestamp places on diversity in its workforce profiles, generational diversity is also seen to play a crucial role. This interaction between different generations is very enriching for Gestamp because it encourages innovation in problem solving, as each generation brings a different perspective. Thus, Gestamp’s inclusive nature is also shown in its inclusion of people of different age, as shown in the table below: 269
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Distribution of own employees by country, gender and age Total Men Women Country 2025 2024 2025 2024 2025 2024 Germany 3.434 3.831 3.094 3.450 340 381 Argentina 652 823 594 750 58 73 Brazil 4.998 5.059 4.089 4.196 909 863 Bulgaria 221 208 178 156 43 52 China 4.802 5.199 3.842 4.177 960 1.022 South Korea 230 233 227 227 3 6 Slovakia 395 454 257 283 138 171 Slovenia 1 0 1 0 0 0 Spain 6.327 6.139 5.146 4.988 1.181 1.151 USA 4.010 4.021 3.078 3.107 932 914 France 1.564 1.598 1.270 1.300 294 298 Hungary 532 482 356 323 176 159 India 1.292 1.119 1.205 1.050 87 69 Japan 138 126 118 106 20 20 Lithuania 1 0 1 0 0 0 Morocco 289 272 269 246 20 26 Mexico 3.406 3.411 2.404 2.389 1.002 1.022 Poland 1.191 1.218 907 923 284 295 Portugal 1.293 1.188 809 741 484 447 United Kingdom 1.633 1.823 1.437 1.596 196 227 Czech Republic 1.422 1.483 880 883 542 600 Romania 918 969 507 540 411 429 Russia 104 274 74 174 30 100 Sweden 261 262 211 216 50 46 Thailand 16 14 2 4 14 10 Taiwan 16 16 13 13 3 3 Turkey 3.320 3.535 2.874 3.072 446 463 TOTAL 42.466 43.757 33.843 34.910 8.623 8.847 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 270
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Country Total 2025 Total 2024 < 351 35-55 >55 2025 2024 2025 2024 2025 2024 Germany 3.434 3.831 748 939 1.747 1.919 939 973 Argentina 652 823 98 145 483 588 71 90 Brazil 4.998 5.059 2.031 2.311 2.819 2.621 148 127 Bulgaria 221 208 58 57 139 122 24 29 China 4.802 5.199 1.963 2.438 2.776 2.688 63 73 South Korea 230 233 95 77 127 147 8 9 Slovakia 395 454 119 169 251 258 25 27 Slovenia 1 0 0 0 1 0 0 0 Spain 6.327 6.139 940 1.083 4.208 4.064 1.179 992 USA 4.010 4.021 1.466 1.481 1.908 1.901 636 639 France 1.564 1.598 321 336 968 1.008 275 254 Hungary 532 482 165 131 291 274 76 77 India 1.292 1.119 870 777 415 339 7 3 Japan 138 126 28 31 96 83 14 12 Lithuania 1 0 1 0 0 0 0 0 Morocco 289 272 270 255 19 16 0 1 Mexico 3.406 3.411 1.837 1.959 1.487 1.384 82 68 Poland 1.191 1.218 486 545 654 634 51 39 Portugal 1.293 1.188 416 389 733 681 144 118 United Kingdom 1.633 1.823 421 484 726 809 486 530 Czech Republic 1.422 1.483 565 593 705 733 152 157 Romania 918 969 337 403 497 493 84 73 Russia 104 274 32 77 65 186 7 11 Sweden 261 262 87 83 118 125 56 54 Thailand 16 14 10 8 6 5 0 1 Taiwan 16 16 0 0 11 12 5 4 Turkey 3.320 3.535 1.742 2.074 1.543 1.441 35 20 TOTAL 42.466 43.757 15.106 16.845 22.793 22.531 4.567 4.381 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 271
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Consolidated employees by age range (<35, 35-55, >55) (Annual) 2025 2024 <36 36-55 >55 Total <35 35-55 >55 Total N % N % N % N N % N % N % N Total 15.106 36 % 22.793 54 % 4.567 11 % 42.466 16.845 38 % 22.531 52 % 4.381 10 % 43.757 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 1 Gestamp is adjusting the systems to be able to provide information in the following age groups: under 30 years, between 30 and 50 years and over 50 years. S1–10: Adequate wages Gestamp, in line with its equal opportunities principle enshrined in its Code of Conduct, promotes gender equality in access to employment, in professional promotion and in remuneration, guaranteeing equality for equal positions. The Group's remuneration policy is based on three pillars: level of responsibility, external competitiveness and professional trajectory, without distinction by gender, origin or any other personal condition, beyond merits demonstrated in performance. In 2025, Gestamp carried out a comprehensive analysis to verify that all Group employees receive remuneration higher than the legal minimum wage or the collective agreement minimum wage in each country. The results of this exercise, like those in 2024, confirm that in all the markets where we operate, the company guarantees fair remuneration, positioning itself above the applicable minimum references24 To verify that the minimum interprofessional salary is exceeded in each country, the individual remuneration of each employee has been compared with the current minimum wage obtained from macroeconomic data sources. S1-12: People with functional diversity As described in ‘S1–4: Taking action on material impacts on own workforce, approaches to mitigating material risks and pursuing material opportunities related to own workforce and effectiveness of those actions’, Gestamp is making significant efforts to promote the inclusion of individuals with functional diversity, a particularly relevant challenge in the automotive industry, given its high technical and operational requirements. The company not only directly hires people with disabilities, welcoming them into its teams, but also outsources products and services to special employment centres, thus fostering a more inclusive workplace setting. Gestamp also works with local engineers to ensure that its facilities meet accessibility requirements, ensuring adapted workspaces. These efforts not only reflect a commitment to social responsibility, but 272 24Following the defined methodology, scholarship recipients, expatriates, long-term leaves of absence, and partial retirements have been excluded from the analysis.
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also enhance the company’s innovation and competitiveness in a highly demanding sector. Number of employees with functional diversity (number of salaried workers) 2025 2024 Men Women Total1 Men Women Total1 # % # % # % # % Total 697 80 % 173 20 % 870 667 80 % 165 20 % 832 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 1 The total number of employees with functional diversity does not include employees with functional diversity subcontracted through special employment centers, as they are not own employees. S1-13: Parameters for training and skills development At Gestamp, performance evaluation and professional development are fundamental pillars for fostering a culture of excellence and continuous growth. Last year, 20% of employees participated in regular performance and professional development evaluations within the GTalent model. Broken down by gender, 18.5% of men and 25.6% of women in our workforce were included in these processes (for more information on performance evaluation, see section " S1-1: Policies related to our own workforce"). In 2024, 22% of employees participated in regular performance and professional development evaluations within the GTalent model, representing 20% of men and 27% of women in the workforce.25 These studies reflect our commitment to equal opportunities and the comprehensive development of all our employees. In addition to these initiatives, there is a solid training programme in place that aims to boost individual and collective skills, in line with the sustainability and innovation challenges faced by Gestamp as a company. At Gestamp, work has been done to shift the performance system towards a waterfall goal-setting meritocratic method that uses strategic priorities to link employee performance to the achievement of the Group's strategic objectives. As included in GOV-3, employees have a component within their variable remuneration associated with individual objectives, representing 25%. For this, the performance evaluation consists of: • Individual objectives set at the beginning of the year by the manager of each employee based on priorities defined by the Group. • Personal improvement objective. • Leadership competencies (Statements), which this year have been updated and simplified to facilitate their evaluation. To do this, direct questions about each competency have been incorporated, helping managers to reflect and give more consistent and objective feedback. 273 25This assessment includes structural labor and indirect labor with personnel under their supervision.
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At the end of the year, each manager evaluates the objectives and competencies, establishes a final performance rating and identifies the potential shown by the employee. Meetings are then held with the area managers to review and confirm the results of the appraisals and to draw up action plans where necessary. In 2025, Gestamp carried out a total of 1,094,649 hours of training. The number of participants in training activities was 414,180 and the average training per employee was 25.8 hours (25.9 men and 25.1 women). In 2024, a total of 1,142,192 hours of training were provided. The number of participants in training activities was 439,783 and the average training per employee was 25.6 hours (25.44 men and 26.82 women). 2025 2024 (A) Total number of training hours 1.094.649,0 1.142.192 (B) Average number of salaried workers 42.466 44.652 Average training hours per employee [(A)/(B)] 25,8 25,6 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. Employee training in our management companies. Employees are mainly trained in the workplace, which is a highly practical approach as it guarantees they develop knowledge of the Group’s industrial processes and allows them to constantly adapt to technological innovation and customer requirements in areas such as safety, weight reduction and sustainable transport. In addition to the training efforts made by the organisational units, as detailed below, the corporate training and development area has directly managed 131,252 hours of training through global programs aimed at developing leadership, management, and techniques related to the group's strategy. During the 2025 financial year, Gestamp’s plants continued to focus on staff training and development, delivering a total of 963,397 hours of training. A total of 303,600 employees took part in this training, with each employee completing an average of 22.47 hours of in-plant training. In 2024, Gestamp's plants also maintained their commitment to training, delivering 1,019,853 hours. The number of attendees was 330,719, with an average of 22.84 hours of training per employee at the plant. 274
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Training hours by workforce type and gender in 2025 (thousands of hours) 82,0 34,6 78,1 194,7302,2 298,0 168,4 768,7 384,2 332,7 246,5 963,4 Women Men Total MOD MOI MOE Total The scope of the information is 100% of the companies within the Group's financial consolidation perimeter. Training hours by workforce type and gender in 2024 (thousands of hours) 103,1 39,0 74,2 216,3295,6 320,4 187,5 803,6 398,7 359,4 261,7 1.019,9 Women Men Total MOD MOI MOE Total The scope of the information is 98% of the companies within the Group's financial consolidation perimeter. MOD: Direct Labor / MOI: Indirect Labor / MOE: Structural Labor 275
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Participants by type of workforce and gender in 2025 (thousands of participants) 31,6 9,5 21,2 62,3 99,5 89,3 52,3 241,1 131,1 98,7 73,5 303,4 Women Men Total MOD MOI MOE Total The scope of the information is 100% of the companies within the Group's financial consolidation perimeter. Participants by type of workforce and gender in 2024 (thousands of participants) 36,6 9,0 23,0 68,6 114,8 89,7 57,6 262,1 151,5 98,7 80,6 330,7 Women Men Total MOD MOI MOE Total The scope of the information is 98% of the companies within the Group's financial consolidation perimeter. MOD: Direct Labor / MOI: Indirect Labor / MOE: Structural Labor 276
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Training hours 2025 - Internal and External 35 % 65 % External Internal Training hours 2024 - Internal and External 30 % 70 % External Internal The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 98% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. S1–14: Health and safety parameters The GHSS is integrated at all levels of the organisation and implemented in 100% of Gestamp's production plants, although this is not the case in Gescrap's plants, which have their own management system. In 2025 we maintained the Frequency Rate at 9 but reduced the Severity Rate by 9%. Gestamp has continued to have no fatal accidents at its facilities since 2017 (including value chain workers working at Gestamp sites). 2025 2024 Frequency Index Group1 9 9 Own employees 9 9 Subcontracted employees 5 7 Severity Index Group2 0,17 0,18 Own employees 0,18 0,19 Subcontracted employees 0,1 0,12 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 92% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. 277
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2025 2024 Indicators H M Cluster H M Cluster Frequency Index2 10 7 9 11 2 9 Severity Index3 0,18 0,15 0,17 0,22 0,02 0,18 Total Accidents 4 709 137 846 799 36 835 Own Employees 662 122 784 712 32 744 Subcontracted Employees 47 15 62 87 4 91 Fatal Accidents5 0 0 0 0 0 0 Total Occupational Disease6 4 1 5 1 0 1 Own Employees 4 1 5 1 0 1 Subcontracted Employees 0 0 0 0 0 0 Number of days lost7 12,701 2,859 15,560 17 445 17.191 The information has not been restated in the 2024 financial year to preserve its reliability. The scope of the information in 2024 represents 92% of the companies within the Group's financial consolidation perimeter, and in 2025, 100%. As discussed in section BP-2 of ESRS 2, an estimation of the data is carried out for those companies in which the breakdown of hours worked has not reached the maximum level of reporting (gender and own and subcontracted staff), a direct proportionality has been made based on the total number of hours worked known following the representativeness of these groups in the Group. M: Male / F: Female 1 Accidents that can be recorded by the corporate health and safety team include accidents resulting in sick leave. 2. Frequency Index: Number of accidents resulting in sick leave and occupational illnesses per 1,000,000 hours worked (includes both direct and subcontracted employees). This indicator is also known as the rate of recordable workplace accidents. 3 Severity Index: Number of working days (Monday-Friday) lost due to accident or occupational disease/per 1,000 hours worked (includes own and subcontracted employees). 4 Accidents resulting in sick leave occurring to all workers performing tasks inherent to or necessary for the activity. This includes temporary employment agencies and outsourced services. It does not include commuting accidents. 5 The number of fatal accidents includes both own employees and subcontractors. 6 Occupational disease: that contracted as a result of exposure to risk factors inherent to the work activity and has been declared by a doctor. 7 Number of days lost due to injuries. S1–16: Parameters for remuneration (pay gap and total remuneration) The gender pay gap is the clearest indicator in terms of methodology when analysing the difference in salary between men and women. This gross pay gap is calculated by subtracting the average gross pay level per hour of salaried women from the average gross pay level per hour of salaried men, divided by the average gross pay level per hour of salaried men. The formula result is then multiplied by 100 to determine the percentage. The average hourly pay level takes into account the concepts of fixed salary plus variable remuneration raised to full-time and annualised. To reaffirm the quality of the data and review of eligible employees, all information has been validated with the local HR teams. The automated extraction of the entire database was possible thanks to efforts to improve data quality in recent years. These improvements include the interconnection between payroll systems and the definition of salary additions across the Group. 278
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Gross pay gap 13,99 % 15,73 % 2025 2024 For the calculation of the salary references indicated in this report, the active workforce as of December 31, 2025, was used as a basis, automatically extracted from the SAP HCM system, corresponding to 22 countries (Argentina, Germany, Brazil, China, South Korea, Slovakia, Spain, United States of America, France, Hungary, India, Italy, Japan, Morocco, Mexico, Poland, Portugal, Czech Republic, Russia, Sweden, Taiwan, and the United Kingdom). Additionally, in order to ensure the entire scope, the following countries have been included: Turkey based on an estimate of 2023 wage gap data (most current information) provided by the official organisation Turkstat; Romania and Bulgaria based on estimates of 2023 wage gap data provided by the European Union Statistics Office (Eurostat); and Thailand based on the International Labour Organization (ILO). Due to the use of the estimates indicated in the previous paragraph, each of the remuneration parameters included in this report refers to 100% of the companies included in the Annual Accounts. For the correct integration of the data, the estimates have been weighted by the number of employees at Gestamp in each geography. In this way, we cover the totality of Gestamp employees, excluding apprentices, interns, retirees, and expatriates due to the low comparability of their remuneration with the rest of the Group. To provide a more accurate calculation, the Group calculates the adjusted pay gap. The methodology used compares professionals in positions with the same level of contribution according to Gestamp's classification system (G3S) and located in the same country. The levels of remuneration are used to define the salary bands. This allows the policy to be linked to objective criteria and guarantees there is no discrimination of any kind. Adjusted pay gap 6,68 % 6,08 % 2025 2024 Average remuneration by professional category and by gender Average remuneration is the average compensation received by all members of the eligible collective, which takes into account all money received: fixed salary and annual variable pay, extrapolated to full-time hours. Furthermore, the amounts have been converted to euros using the average exchange rate for 2025. The analyses are carried out taking into account the workforce at the end of each financial year. Therefore, when including the exchange rate variable, differences in remuneration from one year 279
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to another may be due to macroeconomic variables not linked to Gestamp's remuneration policy. Just as in 2024, to calculate the average remuneration for 2025, we have chosen to calculate it by category. This allows us to obtain uniform collectives from a responsibility point of view, an aspect which is directly linked to our employees’ remuneration Average remuneration in euros by professional category and by gender 2025 2024 Men Women Total Men Women Total Executives 165.515 141.227 161.240 166.346 135.918 161.717 Middle management 74.715 70.015 73.788 74.047 69.634 73.159 Rest 26.740 23.113 26.006 26.080 22.085 25.274 Total 29.730 25.651 28.906 29.040 24.478 28.122 The data table "Average remuneration in euros by professional category and gender" includes the total theoretical annual remunerations. The coverage for the year 2024 is 92% of the workforce (excluding interns and apprentices), and in 2025, it represents 100% of the workforce (excluding apprentices, interns, retirees, and expatriates). In order to compare remunerations, the exchange rate at the end of the year has been applied. The differences between the salaries of men and women are due to the distribution by country and its differences in local markets, cost of living and exchange rates. The salary information for Turkey, Romania, Bulgaria, and Thailand is based on the distribution of employees by professional category and the references from the "2025/2026 Global 50 Remuneration Planning Report." Average remuneration by age The following shows the average remuneration by age in 2025. As in previous years, three large groupings have been established, aligned with the analysis carried out in the rest of the sections of this report Average salaries in euros by age range <35 36-55 >55 Total 2025 20.638 31.354 39.761 28.906 2024 19.934 30.466 41.238 28.122 The data table "Average Remuneration in Euros by Age Range" includes total annual theoretical remuneration. The scope for 2024 is 92% of the workforce (excluding interns and apprentices), and in 2025 it represents 100% of the workforce (excluding apprentices, interns, retirees, and expatriates). To allow for comparison of remuneration, the year-end exchange rate was applied. Differences between male and female remuneration are due to the distribution by country and the variations in local markets, cost of living, and exchange rates. Salary data for Turkey, Romania, Bulgaria, and Thailand are based on the distribution of employees by professional category and the references from the "2025/2026 Global 50 Remuneration Planning Report." Ratio between total annual remuneration of the highest-paid person and the average workforce Lastly, the ratio of the total annual compensation of the highest-paid individual to the median total annual compensation of all salaried employees is 48.7 in 2025 and 46.9 in 2024. In order to comply with the requirements established in the current regulations, the recalculation for 2024 is published, considering the median total compensation of the Group. 280
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S1–17: Incidents, complaints and serious incidents As indicated in section " G1-1: Corporate Culture and Corporate Culture and Business Conduct Policies," Gestamp has a channel called the "SpeakUp line" through which reports of potential breaches of the Code of Conduct can be submitted. This channel is available to employees and individuals associated with the Group in any way (employees, customers, suppliers, collaborators, partners, shareholders, investors, and local communities, among others).26 281 26In 2025, as in 2024, Gestamp did not detect any fines, penalties, or significant compensation for damages as a result of cases and claims regarding discrimination and harassment. Furthermore, no serious incidents related to the human rights of Gestamp's own workforce have been detected, and therefore no related incidents of relative materiality are identified, beyond those indicated in the "Speak Up line" communications table.
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As of December 31, 2025, these have been the communications through the "Speak Up line" according to type (comparative year included): Theme 2025 2024 Integrity in the workplace: Safety and Health * Having facilities and equipment in good condition and people who respect the rules and prioritize prevention. 28 19 Discrimination and fair treatment* Do not discriminate on the basis of race, religion, sex, age, nationality, sexual orientation, gender identity, marital status, or disability. 30 23 Harassment* Physical or verbal behavior of a sexual nature, which aims to or serves to undermine a person's dignity, particularly when it creates an intimidating, degrading, or hostile environment, is not permitted. 11 10 Respectful work environment* Right to be treated fairly and respectfully, in a work environment where trust and mutual respect prevail. 144 102 Equal opportunities* Promote equality in terms of access to employment and promotion of professionals, as well as respecting equal pay for equal work. 8 10 Freedom of association and thought* Recognition of the principles of freedom of association and freedom of thought for employees. 0 0 Forced or child labor* In all cases, avoid hiring staff against their will or under threat, including the use of violence or intimidation, and do not employ any person below the age at which compulsory schooling ceases. 0 0 Integrity in the supply chain: Limitations and incompatibilities Not to hold positions, perform functions or exercise representation in competing or supplier companies. 0 0 Conflict of interest Avoiding situations that could conflict between an employee's personal interests and Gestamp's interests 14 4 Bad practices with suppliers All interactions with suppliers must comply with the company's ethical standards. 14 10 Corruption Corruption and bribery are not tolerated. No Gestamp employee may negotiate with government officials or political parties to offer or give any bribe or gratuity that would influence decision-making for their own benefit or that of the Group. 0 0 Political activity1 Gestamp will not participate in any political activity nor make any type of financial donation of a political nature. 1 0 Integrity towards shareholders and business partners: Accuracy of information The honest, accurate, and objective collection and presentation of information, both financial and of any other kind, 2 5 Information Management** Gestamp's technical, operational, commercial and financial information is the property of the company, and is therefore considered confidential and must be safeguarded. 0 0 Privacy and confidentiality Gestamp is committed to respecting current legislation regarding the protection of personal data. 4 0 Control of privileged information Supporting the legitimacy and transparency of the stock markets, using information in a discreet and professional manner. 0 0 Asset protection Ensure that Gestamp's assets, including property, time, confidential information, intellectual and industrial property rights, business funds, and company personnel, are used properly. 5 4 Integrity in the environment: Environment* Commitment to adapt and use the best available techniques to protect the environment. 0 0 Commitment to the community* Commitment to the economic and social growth of communities, creating jobs and collaborating with local stakeholders. 8 2 TOTAL 269 189 *Issues directly or indirectly related to employee human rights. / **No case has been related to financial matters. 1 The complaint received is not related to participation in political activities. 282
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II. Value chain workers (S2) List of material IROs associated with the Value Chain Workers standard (S2) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to workers in the value chain: Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain Human rights in the supply chain TCV1 I + Guarantee of optimal working conditions, and, consequently, of the quality of life of the workers, as a result of the proper compliance with the requirements of the company's Human Rights Policy. Current • Upstream • Human Rights Policy • ESG Policy • Conflict minerals policy • code of Conduct • ESG requirements for suppliers • General terms and conditions for the purchase of goods and the contracting of services • Homologation process that includes specific aspects of human rights. • Due diligence process in which it is expanding its scope to the supply chain. Yes I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers (including a specific human rights questionnaire). Furthermore, it engages with suppliers if any significant issues are identified. For more information, see section "G1 – 2: Supplier Relationship Management". 2 For more information on the specific objectives set, see chapter "S2-5: Goals related to the management of significant negative impacts, the promotion of positive impacts, and the management of significant risks and opportunities." These objectives are related to the supplier qualification process, as this is where impacts and risks are identified. Gestamp is aware of the industrial sector's responsibility regarding human rights, not only through its direct activities but also through all its business relationships. Throughout 2025, Gestamp continued implementing due diligence in accordance with the recommendations of the United Nations, the ILO, and the OECD. 283
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SBM-2: Interests and opinions of stakeholders The company has various communication channels with its suppliers —including a digital platform for suppliers, contractual specifications, specific collaborations, regular meetings and direct local contact— that facilitate the early identification of issues, including those related to sustainability. The results obtained through the various stakeholder engagement mechanisms are incorporated into the double materiality analysis, ensuring that the conclusions rigorously reflect both the expectations of workers in the value chain and the real and potential impacts that the company may have on them. For more information see SBM-2. SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model. The double materiality analysis is conducted at the group level, incorporating all geographies in which the company operates and all links in its value chain, including its own activities and its upstream and downstream business relationships. Additionally, specific studies are carried out in locations with significant activities to assess the significance of the impacts when deemed necessary (See IRO-1 for more information on the analysis methodology). Regarding the workers in the value chain who may be affected by the positive impact identified from Gestamp's business relationships, no specific type or geographical location is established to which the impact is linked. This impact stems from Gestamp's management of its suppliers, aligned with its ESG Policy. • General conditions for the purchase of goods and the contracting of services: In section 8 "Supplier Obligations", 5 points are described that seek to ensure that the supplier commits to comply with different aspects related to the workers in the value chain. • Code of conduct: Ensures that all interactions with its suppliers must comply with the Group's ethical standards, seeking to ensure that they meet the same standards of integrity with which the Group works. • Sustainability in the supply chain: Gestamp has mandatory environmental, social, and ethical requirements for suppliers of goods and services throughout the entire supply chain, including subcontractors (regardless of the country in which they provide their services). These requirements cover human rights, labor standards, business ethics, environmental protection, and safety, among other issues. 284
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• Human rights policy: This is the Group's policy that sets out the main provisions on human rights and applies to all employees of the Gestamp Group, as well as subcontractors, suppliers, partners and collaborators, in compliance with the United Nations Guiding Principles on Business and Human Rights. • Conflict Minerals: Gestamp's suppliers must meet strict quality requirements and respect human rights, labor laws, and environmental and ethical standards in accordance with the principles of the UN Global Compact and Gestamp's Code of Conduct. However, fully aware of its corporate responsibility not to implicitly help finance armed conflicts and not to contribute to human rights violations, Gestamp has developed its Conflict Minerals Policy. For more information see SBM-3. 285
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S2 – 1: Policies related to workers in the value chain Gestamp is committed to respecting the human rights recognised in international reference frameworks across all its activities and in all the markets in which it operates. Therefore, it has established certain basic principles of action applicable to both its direct and indirect activities and a due diligence mechanism aimed at preventing, mitigating and remedying any possible negative impact on human rights. Gestamp has the following policies and rules set out in separate documents to manage any material impacts involving workers in the value chain and the related material risks and opportunities: Human Rights Policy TVC1 Gestamp implements its commitment to respecting the human rights recognised in international reference frameworks across all its activities and in all the markets in which it operates through its Human Rights Policy. Therefore, it has established certain basic principles of action applicable to both its direct and indirect activities and a due diligence mechanism aimed at preventing, mitigating and remedying any possible negative impact on human rights. The policy establishes certain principles of conduct, such as the eradication of forced labour, trafficking in persons and modern slavery and the prohibition of child labour, among other issues. This policy applies to all Gestamp Group employees, as well as subcontractors, suppliers, partners and associates, in compliance with the United Nations Guiding Principles on Business and Human Rights. In countries where national laws may conflict with respect for human rights, precise control and mitigation measures shall be established without violating the laws in force, in order to guarantee a minimum standard in terms of human rights. The Sustainability Committee, together with the ESG Department, supervises the functioning of the policy and monitors implementation. Section "S1-1" contains further information in addition to that described in this chapter, such as the standards and principles to be met or the procedure for measures aimed at offering or enabling the rectification of human rights impacts. Workers in the value chain also have communication channels available so that they can report potential violations. For more information see: Human Rights Policy. 286
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ESG Policy TVC1 This Policy is global in nature and applies to the entire Group, including all its business activities and relations with third parties in all the geographical areas in which it operates. Gestamp establishes a series of principles of action in the environmental, social and good governance dimensions, with the aim of mitigating its negative impacts and enhancing positive ones, aligning its business objectives with the company's culture and the United Nations 2030 Agenda. These principles act as guidelines for the development of its activities. Furthermore, Gestamp is well aware of the many challenges facing the mobility sector today. It is therefore committed not only to mitigating the risks to which its activity is exposed, but also to transforming them into opportunities that allow it to be more resilient and generate a competitive advantage. This policy combines a number of topics in a cross-cutting manner, including respect for and protection of human rights by implementing a due diligence process that ensures observance of the human rights recognised in international reference frameworks across all its direct activities and identifying risks along the supply chain. The Sustainability Committee is responsible for proposing, supervising, reviewing and ensuring compliance with sustainability policies regarding environmental, social and corporate governance matters. With the assistance of the Group’s ESG Department, the Sustainability Committee supervises that the company’s ESG practices are aligned with the strategy and policy in place. The Audit Committee, in turn, regularly supervises, assesses and reviews the efficacy of internal control and financial and non-financial risk management systems, so that the main risks are adequately identified, managed and reported, receiving support from the Internal Audit and Risk Management Department. This policy has been approved by the Gestamp Group's Board of Directors and is available to interested parties on the Group's corporate website. For more information see: ESG Policy Conflict Minerals Policy TVC1 In this policy, Gestamp acknowledges the importance of responsible sourcing and pledges to make every effort to meet international standards in this field. This policy applies to all companies in the Gestamp Group. In general, Gestamp's suppliers must meet strict quality requirements, respect human rights, comply with labour laws, and uphold environmental and ethical standards, in due accordance with the principles of the Global Compact and Gestamp's Code of Conduct. 287
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However, aware of its corporate responsibility to prevent the effective financing of armed conflict and to avert human rights violations, Gestamp has developed this Conflict Minerals Policy. Gestamp undertakes to implement measures aimed at disclosing and/or preventing the sourcing and use of minerals that could finance or benefit armed groups in the Democratic Republic of the Congo and neighbouring countries. Gestamp expects its suppliers to implement similar measures, to extend them to their supply chains and to work towards the conflict-free sourcing of products. This policy is carried out by Gestamp's Corporate Purchasing Department and is available to interested parties on the Group's corporate website. For more information see: Conflict Minerals Policy ESG requirements for suppliers TVC1 Compliance with the document is mandatory for all Gestamp Group suppliers and their employees and subcontractors (jointly referred to as “suppliers”) regardless of the country or territory in which said suppliers and employees provide their services, in terms of human rights, labour standards, business ethics, environmental protection and safety. Suppliers must ensure that neither they, their business partners nor their suppliers directly or indirectly violate any human rights in the course of their business activities. The application of the requirements corresponds to the Purchasing Management and has been developed according to the needs of the Gestamp Group. The ESG Requirements for suppliers are available to interested parties on the corporate website. For more information see: ESG requirements for suppliers Code of Conduct TVC1 The Code of Conduct, which sets out the Group’s vision, corporate principles and rules of conduct, has become the central pillar of its commitment to integrity and a point of reference for those who have doubts about what they are expected to do in a given situation. This Code of Conduct will be applicable to all organisational areas, all members of the governing bodies and to all employees who are contractually bound to the companies comprising the Gestamp Group (hereinafter, the Group or Gestamp), i.e., Gestamp Automoción, S.A. and the companies in which Gestamp holds a controlling interest. The Code of Conduct states that all interactions with our suppliers must meet our ethical standards. All our suppliers are expected to meet the same standards of integrity that Gestamp works with. An immoral or illegal act of a supplier could damage Gestamp's reputation as a company and lead to a loss of respect for our goodwill in the communities where we work. 288
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The Ethics Committee is the independent body that ensures the Code is implemented and complied with. Its main duties and composition are set out in the Ethics Committee Regulations. At Gestamp, there is a channel for open, confidential communication with the Committee and the relevant processes have been established to guarantee independence and strictness in the handling of communications. This policy was approved by the Board of Directors and was developed in accordance with the Gestamp Group's needs, seeking to ensure compliance with applicable regulations. The Code of Conduct is freely accessible on the Gestamp Group's corporate website in any of the 18 languages spoken in the Group. For more information see: Code of Conduct General terms and conditions for the purchase of goods and the contracting of services TVC1 These General Conditions are binding for all suppliers of goods and/or services to Gestamp or other contractors (all referred to hereinafter as a “Supplier”) and will be an integral part of any order, purchase order of goods or request for services. The Supplier undertakes to comply with, and to compel its employees and, if applicable, its contractors and assignees to comply with, their obligations under the contractual documentation, including but not limited to the following obligations: 1. Applicable legislation in the field of Tax, Employment, Social Security, Health and Safety in the Workplace and Environment and any other of a legal nature that may apply; 2. In the event of activities performed at Gestamp's installations, any polices concerning Health and Safety in the Workplace and the Environment adopted by the Gestamp Group; 3. The Gestamp Group Code of Conduct; 4. The Gestamp Group Principles of Corporate Social Responsibility of (available under the link: Gestamp - Responsible Supply Chain); 5. The Principles of the UN Global Compact, to which the Gestamp Group subscribed on 29 September 2008 (available via the link: www.unglobalcompact.org/); 6. Any other internal policies of the Gestamp Group or any principles to which it subscribes and of which the Supplier is duly informed over the Supplier Portal. The contracting conditions are internal and are shared with the supplier prior to the acquisition of the product or service. The Purchasing Director is the highest responsible for the implementation of these conditions. 289
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S2 – 2: Processes to collaborate with value chain workers on impacts. No negative impacts referring to workers in the value chain were described in the findings of the double materiality analysis. However, one positive impact related to human rights was described as a result of the company’s actions applicable to suppliers. For the purposes of guaranteeing optimal working conditions and, consequently, the quality of life of its workers, Gestamp has implemented diverse policies and requirements, detailed in disclosure requirement S2-1. These policies and requirements apply to all of Gestamp’s suppliers. Furthermore, the company has a robust supplier management system that makes it possible to guarantee optimal working conditions. Gestamp's Whistleblowing Channel is available to all individuals related in some way to the Group, including workers in the value chain, to communicate at any time possible breaches of the Code of Conduct and other internal regulations or legislation applicable to the Group (including any social or human rights aspect), as well as regarding suggestions, queries or doubts. Information about the whistleblowing hotline can be found in Disclosure Requirement G1-1. Supplier management Gestamp has implemented a system that analyses and identifies risk variables linked to suppliers aimed at managing it by means of monitored mitigation and contingency plans. The system can display a supplier’s risk profile in order to discern whether the supplier meets the minimum requirements for approval for working with Gestamp, in addition to notifying potential risks linked to the variables analysed. This information is included in the decision-making so that it is possible to react swiftly and efficiently in response to uncertainty and/or changes related to the circumstances of the suppliers involved in negotiation processes. Besides the basic compliance requirements, other factors, including ESG requirements, determine the supplier’s level of risk. All suppliers must accept the ESG Requirements for Suppliers mentioned in Requirement S2-1 in order to ensure that they meet Gestamp's standards in terms of ethics, human rights and environmental protection. Regardless of their classification, all suppliers must undergo an automatic ESG risk assessment based on international standards set by benchmark organisations, in line with their sector of activity and geographic scope. In addition to this automatic assessment, the platform contains a self-assessment questionnaire for certain suppliers, composed of questions about ethical, social and environmental issues that enables them to respond and upload proof, so as to assign a certain risk level to each supplier and classify them based on ESG risk. This questionnaire contains specific questions about diversity and inclusion, and about conflict minerals for those suppliers operating in regions or sectors in which these issues are most relevant. 290
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In turn, Gestamp has several digital platforms used for supplier relations: Ariba, GoSupply, and Fullstep QA. Staffing providers All workers whose workstations are located within a Gestamp establishment receive occupational risk prevention training, including workers from temporary employment agencies, for example. In addition, they will be provided with adequate personal protective equipment (PPE) to perform their work. The general conditions for hiring, which must be accepted before entering into any commercial relationship, establish that: The Supplier undertakes to comply with, and to compel its employees and, if applicable, its contractors and assignees to comply with, their obligations under the contractual documentation, including but not limited to the following: (i) Applicable legislation in the fields of tax, employment, social security, health and safety in the workplace and the environment and any other obligations required by law that may apply; (ii) In the event of activities performed at Gestamp’s installations, any polices concerning Health and Safety in the Workplace and the Environment adopted by the Gestamp Group; (iii) The Gestamp Group Code of Conduct; Furthermore, the Supplier undertakes not to request or encourage any employee to commit any illegal act or any which violates the provisions of the Code of Conduct. If the Supplier has any reasonable evidence that any act has been carried out in violation of the principles and rules of conduct established in the Code of Conduct, it will immediately inform Gestamp by post addressed to Gestamp, Compliance Department, calle Alfonso XII, 16, 28014, Madrid or by e-mail sent to corporatecompliance@gestamp.com; (iv) The Gestamp Group Principles of Corporate Social Responsibility, and (v) The Principles of the UN Global Compact, to which the Gestamp Group subscribed on 29 September 2008 (available via the link: www.unglobalcompact.org/). (vi) Any other internal policies of the Gestamp Group or any principles to which it subscribes and of which the Supplier is duly informed over the Supplier Portal. Gestamp also has a whistleblowing hotline, as described in the following section. 291
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S2 – 3: Processes for addressing negative incidents and channels for value chain workers to express their concerns In order to ensure that Gestamp can identify and remediate any negative impact, it boasts a whistleblowing hotline to respond to reports filed in relation to possible breaches of the Code of Conduct or other internal regulations or laws applicable to the Group. This channel is available to employees and people linked in any way to the Group (employees, clients, suppliers, associates, partners, shareholders and investors and local communities, among others)27 Disclosure Requirement G1-1 contains all the information about the whistleblowing hotline. In addition, the environmental, social and ethical requirements for suppliers of goods and services contain a section about the whistleblowing hotline, which specifies that suppliers must have an effective mechanism for complaints and claims, in line with the UN’s Guiding Principle 31, that enables its stakeholders to raise concerns related to business ethics, human rights or any other matter, ensuring that this can be done anonymously, confidentially and without retaliation. S2 – 4: Adoption of measures related to material impacts on workers in the value chain, approaches to managing material risks and taking advantage of material opportunities related to workers in the value chain and the effectiveness of such actions. As indicated in previous sections, no material risks or opportunities linked to value-chain workers have been identified. However, Gestamp has procedures in place that ensure proper management of this matter, such as due diligence regarding human rights and supplier management. Due Diligence The company has developed a due diligence process regarding human rights that enables it to identify human rights risks and to make an assessment of prevention and mitigation measures in order to: • Define the company’s public commitment in this area through the aforementioned policy. • Identify, evaluate and prioritise real or potential risks of violation of human rights with impact on people and/or society. • Prevent and mitigate any impact the company may have on its workers in the value chain regarding: ◦ Forced labour. ◦ Child labour and young workers. 292 27As noted, Gestamp makes the whistleblowing channel available and makes significant efforts to communicate it to its stakeholders. However, it is unclear how well workers across the value chain are aware of and trust this mechanism.
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◦ Non-discrimination. ◦ Freedom of association. ◦ Occupational health and safety. ◦ Community impact. ◦ Employment and working conditions (salary, work schedule and right to privacy). ◦ Corruption and bribery. ◦ Company products and marketing practices. ◦ Supply chain and partner management. • Establish measures to help remedy or compensate for potential human rights violations. • Periodically monitor the progress and efficacy of the measures implemented. • Transparently communicate the above points. Gestamp has analysed its inherent human rights risks based on probability, according to the geographical areas in which it operates and the severity based on the scale, scope and remediation of the different human rights risks related to its stakeholders. Management of suppliers As explained in Requirement G1-2, Gestamp assesses the ESG risks of all its suppliers. This assessment consists of an automated analysis based on international standards set by benchmark organisations, considering the sector of activity and the geographic scope. In addition, for certain suppliers identified as relevant in terms of their ESG risk, the assessment is complemented by a questionnaire addressing ethical, social and environmental aspects. In the supplier risk management tool, the social criteria considered in the assessment questionnaire include aspects relating to occupational risk prevention, the freedom of association, wages, child or forced labour, whether there is a due diligence system in place, whether the companies disclose any fines imposed, sanctions due to human rights violations, accidents and other matters. It also contains specific questions about diversity and inclusion, and about conflict minerals for those suppliers in regions or sectors in which these issues are most relevant. External disclosure of incidents relating to workers in the value chain is reported in the M a n a g e m e n t R e p o r t u n d e r c a s e s c o n c e r n i n g s u p p l y - c h a i n i n t e g r i t y . Gestamp does not have a specific CapEx or OpEx for these actions. The measures for mitigating these risks are the same as those taken for general risks; there is no specific risk 293
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to workers in the value chain. Furthermore, the application of these measures is considered continuous over time, without a defined time horizon. 294
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S2-5: Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities. Gestamp does not have measurable results-oriented targets for workers in the value chain. However, the Group is currently devising a new ESG Plan in which all aspects considered material will be reviewed, taking into account the segment of the value chain in which they are deemed material. On the other hand, Gestamp has established specific targets for managing its suppliers, thus ensuring that the effectiveness of their policies is tracked; these targets are disclosed in Requirement E2-3. Disclosure Requirement SBM-1 describes the process involved in developing the 23- 25 ESG Plan and its connection to the different stakeholders. 295
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III.Affected communities (S3) List of material IROs associated with the Affected Communities standard (S3) The following are the IROs identified through the double materiality analysis in relation to the affected communities: Impacts involving human rights defenders CAF1 I + Promotion and defense of local communities through participation in projects of different organizations/associations. Actual Own operations • ESG Policy • Human Rights Policy Gestamp has a supplier approval process that assesses the ESG risk of suppliers to inform procurement decisions. The results are evaluated, and specific actions are developed to improve performance. This procedure includes human rights aspects. Yes CAF4 R n/a Disciplinary sanctions for non-compliance with workers' rights and working conditions. n/a Own operations • ESG Policy • Human Rights Policy • Conflict Ministry Policy Land-related impacts CAF3 R n/a Upstream suppliers in the value chain can generate conflicts with local communities due to pollution, noise and other environmental impacts, causing supply disruptions and/or reputational damage to Gestamp. n/a Upstream • ESG Policy • Human Rights Policy • Conflict Ministry Policy • ESG requirements for suppliers Homologation process which includes aspects related to local communities (see description immediately above). Yes Social Action (specific to the entity) CAF2 I + Increase in beneficiaries of investment thanks to the development of social projects linked to the Gestamp Foundation. Actual Own operations Social Action Policy • In 2024, Gestamp founded the "Gestamp Foundation" with the aim of amplifying the social impact of its actions. • Development of social action around three key levers to increase its impact: Education and training; Mobility and transport; and Environment. Yes CAF5 O n/a Improved reputation, talent retention and motivation as a result of the increase in social action projects developed by the Gestamp Foundation. n/a Own operations Social Action Policy Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers. Furthermore, it interacts with suppliers if any aspect considered significant is identified. For more information, see section "G1 – 2: Supplier Relationship Management". 2 For more information on the specific objectives set see chapter "Goals related to Social Action" and "E2-3: Goals related to pollution" (goals related to suppliers and value chain are presented in this standard). 296
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SBM-2: Interests and opinions of stakeholders. The company has various communication channels with local communities —including participation in forums, talks and industry events, social action and volunteering— that facilitate the early identification of issues, including those related to sustainability. The results obtained through the various stakeholder engagement mechanisms are incorporated into the double materiality analysis, ensuring that the conclusions rigorously reflect both the expectations of workers in the value chain and the real and potential impacts that the company may have on them. SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model. For Gestamp, considering local communities is fundamental to promoting social, economic, and environmental progress in the regions where it operates. The company demonstrates this commitment through its ESG Strategy and its Gestamp Foundation, which supports projects focused on education, sustainability, and mobility. The impacts, risks, and opportunities related to the affected groups can be differentiated depending on the section of the value chain from which they originate, without identifying a differentiation between the typology of groups in relation to said IROs:28 • Gestamp's own activities: Social action is an essential part of its ESG strategy. Therefore, through the Gestamp Foundation and its various activities, Gestamp makes a significant contribution to generating a positive impact on society and the communities where it operates. Furthermore, due to its large number of employees, Gestamp is the economic engine of many of the areas where it conducts business. Therefore, it is essential to consider its employee engagement and management practices as a factor with potential impact on these communities. • Upstream of the value chain: Due to the large number of suppliers that Gestamp works with, risks are identified that could materialize if a supplier were to generate conflicts with the communities in which it carries out its activity. The double materiality analysis carried out by the Group for the 2024 financial year and revised in 2025, which is described in more detail in section IRO-1 of this Sustainability Report, identifies Social Action as a material issue. The impacts and opportunities associated with this issue relate to the Group's contribution to stakeholders through projects undertaken in conjunction with the Gestamp Foundation. For more information see SBM-3. 297 28As affected groups with specific characteristics (those who live in certain contexts or those who carry out particular activities).
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S3 – 1: Policies related to the affected groups The material impacts, risks and opportunities that Gestamp has identified in relation to communities are linked to its own activities and to the value chain. In this regard, the Group has 3 interacting policies that ensure proper management of these issues: 1 All of these policies were described in previous chapters and focus on managing potential impacts on communities Gestamp’s Conflict Minerals Policy acknowledges the importance of responsible sourcing and pledges to make every effort to meet international standards in this field. In general, Gestamp's suppliers must meet strict quality requirements, respect human rights, comply with labour laws, and uphold environmental and ethical standards, in due accordance with the principles of the Global Compact and Gestamp's Code of Conduct. However, aware of its corporate responsibility to prevent the effective financing of armed conflict and to avert human rights violations, Gestamp has developed and implemented this Policy. Gestamp undertakes to implement measures aimed at disclosing and/or preventing the sourcing and use of minerals that could finance or benefit armed groups in the Democratic Republic of the Congo and neighbouring countries. Gestamp expects its suppliers to implement similar measures, to extend them to their supply chains and to work towards the conflict-free sourcing of products. Thus, the policy establishes Gestamp’s commitment to ensuring that no materials or components of questionable origin are used, by: • Adopting and enforcing this Conflict Minerals Policy throughout all the Group’s companies. This includes the review and updating of the policy when necessary. • Extending this policy to its supply chain. 298
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• It has implemented a procedure for collecting information from suppliers using the CMRT (Conflict Minerals Reporting Template) and EMRT (Extended Minerals Reporting Template) templates provided by the Responsible Minerals Initiative (RMI). • Reporting on the management and results of implementation of this policy within the Group or across the supply chain regularly or whenever required to do so by a stakeholder. This policy applies to all the companies that belong to Gestamp Automoción S.A., and all employees involved in purchasing processes at Gestamp are responsible for understanding and applying this policy and any regulations or procedures developed subsequently. The monitoring and review of this Policy is the responsibility of Gestamp's Corporate Purchasing Department and Gestamp's ESG Department. The other policies that interact with the Conflict Minerals Policy (ESG Policy, Human Rights Policy and ESG Requirements for Suppliers) are essential to ensure respect for human rights, labor rights, and to prevent human trafficking and forced, compulsory, and child labour of employees and workers throughout the company’s entire value chain. Furthermore, the Human Rights Policy establishes a due diligence process (see S1-1 Policies related to own workforce ) in which Gestamp assesses potential human rights impacts or risks, making it possible to establish and track actions aimed at mitigating or remediating impacts on human rights. This policy is aligned with the highest international instruments described in chapter S1. Finally, the Social Action Policy defines what the Group understands by social action and the objectives it should pursue, establishes Gestamp’s priority areas for social action, and sets out the guiding principles for the Group’s social action (see Policies related to Social Action). The aim of the Policy is to integrate social contribution with business activity through medium- and long-term social projects in the communities where Gestamp operates, strengthening the relationship of trust with these societies and increasing the positive impact of its actions. 299
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S3 – 2: Processes for collaborating with affected groups regarding incidents Gestamp recognises the importance of integrating the perspectives of all its stakeholders as an essential element in decision-making. For this reason, it has two- way communication channels with the communities in which it operates: Communication channels Typology Periodicity Press releases Information Several times a year Social networks Inquiry / Information Several times a year Participation in forums Stake Several times a year "Speak Up Line"1 reporting channel Inquiry / Information Available all year round Talks Inquiry / Information Several times a year General Shareholders' Meeting Information Once a year Capital Markets Day Information Once every few years Industry events Inquiry / Information Several times a year 1. The Whistleblowing Channel is available to employees, customers, suppliers, collaborators, partners, shareholders, investors, and local communities, among others. For more information about the Whistleblowing Channel, see Chapter S1, Own Personnel. The Communication Department is responsible for communication taking place by means of press releases, social media, participation in forums and events. For their part, interventions in talks, industry events, the Annual General Meeting of Shareholders and Capital Markets Day are the responsibility of the management team responsible for each area of the company. In addition, in the double materiality analysis, conversations were held with diverse stakeholders and surveys were taken, seeking their engagement in this analysis, as a highly strategic event for the company. Thus, meetings were held with different associations and forums, aimed at understanding their views from the perspective of the communities in which Gestamp and its associates conduct business. During the definition of the ESG Plan 26-30, surveys were also sent out to employees in order to integrate their perspective into the plan. Similarly to 2024, no significant negative impacts on local communities were identified in the review of the first double materiality analysis carried out by the Group in 2025. However, in line with the new underlying methods for identifying risks and impacts in the value chain, such as the CSDDD, Gestamp will continue with this thorough analysis and will report on its outcomes on a yearly basis. 300
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S3 – 3: Processes for addressing negative incidents and channels for affected groups to express their concerns Gestamp has implemented a robust human rights due diligence process designed to identify, prevent and address possible impacts and risks related to its business activities. The main goal of this mechanism is to guarantee respect for and promotion of human rights across all areas of its operations, from the supply chain to labour relations and the communities in which it operates. As indicated in previous sections, this process is currently being updated to align it with the latest methods published, such as the Corporate Sustainability Due Diligence Directive. Gestamp’s due diligence process is divided into several stages. First, a thorough examination of possible human rights impacts and risks is conducted, bearing in mind the local circumstances, applicable regulations and unique features of this industrial sector. This stage includes an assessment of potential vulnerabilities in the supply chain, the working conditions of its employees and suppliers, and the impact of its activities on the communities in which it is present. One of the most important tools used in the identification and evaluation of impacts is the “Speak Up Line” whistleblowing hotline, available to local communities and other stakeholders every day of the year29. For more information on the whistleblowing hotline, see chapter G1. Once the risks have been identified, Gestamp implements specific measures to prevent and mitigate these impacts. These actions may include the implementation of stricter internal policies, human rights training for employees and business partners and establishing protocols to address any incidents detected. In addition, the company encourages ongoing dialogue with stakeholders including employees, suppliers, customers and local communities to ensure that the risks identified are managed in a transparent and effective manner. When negative impacts are detected, Gestamp is committed to ensuring that they are remedied in a timely and appropriate fashion. This may involve anything from implementing specific corrective measures to collaborating with specialised organisations to guarantee that a fair, sustainable solution is found. Through this comprehensive approach, Gestamp not only seeks to comply with international and local human rights regulations, but also to bolster its ethical commitment and responsibility as a global actor in the automotive industry. This process is a reflection of its intention to operate sustainably and respectfully, promoting a safe, dignified work environment for everyone involved in its operations. For further information, see chapter S1. 301 29As noted, Gestamp makes the whistleblowing channel available and makes significant efforts to communicate it to its stakeholders. However, it is unclear how well local communities are aware of and trust this mechanism.
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S3 – 4: Adoption of measures related to impacts of relative importance on the affected groups, approaches to managing risks of relative importance and taking advantage of opportunities of relative importance related to the affected groups and effectiveness of such actions As with workers in the value chain, the activities described in S2-4 can also be applied to affected communities, bearing in mind that only positive (no negative) impacts, risks and opportunities have been detected. Gestamp has targets aligned with the monitoring of the aforementioned assessment and approval described in section G1-2. S3 – 5: Goals related to the management of significant negative impacts, the promotion of positive impacts, and the management of significant risks and opportunities Gestamp shows a firm commitment to the communities in which it operates by striving to generate a positive impact that goes beyond its business activities. The company is committed to sustainable development, fostering local employment, supporting social projects and actively collaborating in educational, cultural and environmental initiatives. Furthermore, it seeks to strengthen the social structure through alliances with local organisations and institutions, contributing to personal well-being and progress. This approach reflects its long-term vision and sense of responsibility for creating shared value in the settings in which it operates, promoting a more equitable, sustainable future. Stemming from this commitment, the company’s sustainability strategy boasts a 2023-2025 ESG Plan that sets targets aimed at managing material impacts, risks and opportunities related to local communities. However, Gestamp does not have specific targets for managing the previously identified IROS (see section " List of material IROs associated with the Affected Communities standard (S3)"). 302
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S3 - Social Action (specific to Gestamp) The commitment to the local communities in which Gestamp operates has always been a key part of the Group’s social strategy, as a family business with a long-term approach. Responding to society’s needs and helping improve the quality of people’s lives is essential for growth as a company. Governance model for social action at Gestamp Group Gestamp has a solid ESG governance model that integrates and ensures the proper management of the Group's social action. For more information on this governance model, see the following sections: • GOV-2: Information provided to the company's administrative, management and supervisory bodies and sustainability issues addressed by them. • GOV-3: Integration of sustainability-related performance into incentive systems. • GOV-4: Due Diligence Statement. • GOV-5: Risk management and internal controls for sustainability disclosure. They detail in detail the management carried out by the company. Policies related to Social Action Gestamp's social action reflects its commitment to society and contributes to generating a positive impact on the communities and environments where it operates. Gestamp seeks to align its social contribution with its business activity through medium- and long-term social projects in the communities in which it operates, reinforcing trust between those communities and the company and enhancing its positive contributions. Gestamp’s Social Action Policy outlines the strategy for the group’s social initiatives: committed to local communities, aligned with local communities and sustainable over time. Social Action Policy CAF2 and CAF5 Social action is an essential pillar of Gestamp's ESG strategy. For the Gestamp Group, it is important to generate a positive impact in society and in the communities and settings in which it is present. Gestamp understands that it must be a key player in contributing to the sustainable development of the communities in the countries in which it operates, helping improve people’s quality of life, beyond the Group’s own business activity. Therefore, this Social Action Policy aims to (i) define the Group’s understanding of social action and the objectives to be sought, (ii) establish the priorities of the social action activities at Gestamp and (iii) describe the principles of conduct that must guide the Group’s social action. It is applicable to Gestamp Automoción, S.A. and to all the companies over which it exerts control. 303
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The aim of the Policy is to integrate social contribution with business activity through medium- and long-term social projects in the communities where Gestamp operates, strengthening the relationship of trust with these societies and increasing the positive impact of its actions. The priority areas have been defined tailored to Gestamp, seeking those themes in which the Group considers it can have a greater social impact: Priority areas: • Education and training: projects aimed at increasing the industrial and digital skills of all the communities, focusing in particular on groups that are under-represented in these skills, such as women, people with employability difficulties and/or those at risk of social exclusion. • Mobility and Transport: initiatives, volunteer work or donations related to prevention in road safety and efficient driving issues. Promoting mobility as a means of progress and improving the quality of life of vulnerable people. • Environment: protecting the environment where the Group is present, as well as measures that promote energy conservation and efficient energy use within the automotive industry. Principles of conduct: Six principles of conduct guide Gestamp’s social action: 304
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Collaboration: Gestamp works with institutions, non-governmental organisations, private companies, educational and other entities for the effective development of its social action. Relationships and collaborations with public or private institutions are aimed at combining efforts to support the community. Ethics and transparency: Gestamp takes an ethical and transparent approach to its collaborations with other bodies, so that these collaborations are not exploited for purposes contrary to the applicable legislation at any given time. The Group’s established procedures for third-party due diligence shall be applied. Long term: Gestamp’s social action initiatives and its relationship with communities, as well as its business activities, are intended to be permanent in the medium and long term. Adapting to local needs: For every project it undertakes, Gestamp is committed to initiatives that are flexibly adapted to the local needs and demands of the communities in which it operates. Employee engagement: social action initiatives provide an opportunity to channel concerns about solidarity and commitment, which is why Gestamp encourages volunteering among its employees. Leaving an impact: the ultimate goal of Gestamp’s social action is to create a positive impact on the local communities where it operates and to contribute towards improving people’s quality of life, beyond its own business activity. The Policy was approved by the Company’s Board of Directors following a proposal from the Sustainability Committee. The ESG Department and Fundación Gestamp are responsible for monitoring, while the Sustainability Committee oversees its development. It is also available to interested parties on Gestamp's corporate website. For more information see: Social Action Policy Measures related to Social Action Gestamp Foundation Throughout 2025, Fundación Gestamp has carried out its work with the conviction that people are the driving force behind all progress. Based on this premise, it focuses its work on promoting the well-being and personal and professional development of individuals and communities, generating opportunities through training, mobility and sustainability. 305
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Its main governing body is the board of trustees, made up of five members: Mr Francisco J. Riberas, president of the Foundation, Mr Jon Riberas, vice-president, Mr César Cernuda, Ms Marieta del Rivero and Ms Loreto Ordóñez, as members. With a long-term vision, the Gestamp Foundation understands movement as the force that transforms lives, makes communities grow and enables progress towards a more prosperous future. Throughout the year, the Foundation has fulfilled this commitment through initiatives that strengthen individuals and communities, developing its activity in two areas: on the one hand, the development of social action projects and initiatives in collaboration with other foundations and entities, and on the other, the Assistance Fund, aimed at supporting Group employees and their families. Projects In 2025, the Gestamp Foundation has reinforced its commitment to education and mobility through various initiatives that have impacted more than 780,000 people, contributing to the development of key skills for the future and the progress of the communities where the Gestamp Group operates. In the field of education, projects have focused on four main areas: digitalisation, through training initiatives in programming and robotics; the promotion of STEAM vocations; the promotion of vocational training (FP); and education in values, which promotes personal development and coexistence. Initiatives related to mobility in its broadest sense have also been carried out, understood as a tool for economic and social development. To carry out these projects, Fundación Gestamp has benefited from the valuable collaboration of 1,239 volunteers, with an average of 2.56 hours of volunteering per person. The participants have been a fundamental pillar for the development of the projects, dedicating their time and knowledge in order to broaden the impact and scope of the projects. In comparison with 2024, a year in which 9 projects were launched focused mainly on education and mobility, involving 577 volunteers, 1,727 volunteer hours, collaboration with 20 entities, and a total of 18,476 beneficiaries, 2025 marks a significant leap in both reach and participation, reflecting the growing consolidation and expansion of the social impact of the Foundation. With all this, the Gestamp Foundation consolidates its mission of promoting personal and professional progress through the creation of opportunities. Gestamp Assistance Fund With the spirit and values of a united family that cares for its own, the Gestamp Foundation seeks to be close to the more than 40,000 people who are part of the Gestamp Group and their families in the countries where the company operates. 306
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The Assistance Fund is structured into three main areas: Extraordinary Aid, Scholarship Programmes and Humanitarian Crisis Support. Extraordinary Assistance is intended to provide support for health and education for Group employees and their families in cases of particular hardship. In order to guarantee security and transparency in the aid application system, a computer platform has been developed in 2025 with clear and fair selection criteria based on the circumstances of the applicants. The Scholarship Programmes are designed to promote the acquisition of new knowledge and encourage the professional and personal development of participants. In this regard, in 2025 the Gestamp Foundation awarded two scholarships to study the Master's Degree in Industrial Project Management at the University of Comillas Onexed. Humanitarian crises are those in which the health, safety and/or well-being of people are threatened. Such crises can take the form of natural disasters such as: earthquakes, hurricanes, floods, droughts or volcanic eruptions, among others, which cause casualties or serious material losses. These events tend to occur suddenly and with great intensity, exceeding the immediate response capacity in the affected areas. For this reason, the Gestamp Foundation wants to be close to the group's employees when such events occur. Gestamp Foundation in figures In 2025, the Gestamp Foundation has recorded significant growth both in its activity and in the commitment of the people who make it possible. Throughout the year, 14 projects were developed in collaboration with 25 entities, reaching more than 780,000 people. The participation of volunteers in the projects continues to be a distinguishing feature of the Foundation's work. In 2025, Fundación Gestamp had 1,239 volunteers who dedicated a total of 3,178 hours, strengthening the scope and impact of each project. In this regard, the involvement of Gestamp's work centres is essential. During the year, the number of participating centres increased to 27, and all those who had previously collaborated did so again, thus consolidating a stable and committed network around the Foundation's purpose. In comparison with 2024, a year in which 9 projects were launched focused mainly on education and mobility, involving 577 volunteers, 1,727 volunteer hours, collaboration with 20 entities, and a total of 18,476 beneficiaries, 2025 marks a significant leap in both reach and participation, reflecting the growing consolidation and expansion of the social impact of the Foundation. 307
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Key social action figures With a view to more accurately measuring the impact and better analysing the social repercussions of the initiatives carried out by Gestamp, the number of beneficiaries of the social projects has been added to the reporting campaign. The initiatives carried out in 2025 have had an impact on a total of - direct beneficiaries. In 2025, a total of 268 social activities were identified, in which 6,099 employees participated voluntarily, with a total contribution of €2,321,722. Broken down by contribution type, most of the activities involved a monetary contribution (81%), followed by contributions in time (11%) through volunteering activities carried out by Gestamp employees. Contributions in kind amounted to 8% of the sums contributed. 308
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KEY SOCIAL CONTRIBUTION FIGURES (according to the B4SI model) KEY INDICATORS 2025 2024 Number of initiatives 268 308 Employees participating in volunteer activities 6.099 7.036 Collaborating Entities 166 140 Direct beneficiaries 822.024 38.282 KEY FIGURES BY TYPE OF CONTRIBUTION (according to the B4SI model) 2025 2024 TYPE OF CONTRIBUTION € % € % Money 1.884.928 € 81 % 1.872.774 € 79 % Time 261.632 € 11 % 299.905 € 13 % In kind 175.161 € 8 % 188.747 € 8 % Total 2.321.722 € 100 % 2.361.426 € 100 % KEY FIGURES BY AREA OF ACTION (according to the B4SI model) 2025 2024 Area of Action N. initiatives Total Monetary Contribution (%) N. initiatives Total Monetary Contribution (%) Art and culture 8 1.874,81 € — % 3 4.043,60 € — % Humanitarian aid 16 12.042,61 € 1 % 48 98.912,20 € 4 % Social welfare 76 355.951,00 € 15 % 49 394.353,47 € 17 % Economic development 15 786.603,66 € 34 % 18 177.760,02 € 8 % Education 78 998.060,43 € 43 % 86 1.350.904,20 € 57 % Environment 17 12.540,87 € 1 % 20 118.025,65 € 5 % Others 26 17.324,35 € 1 % 46 141.143,79 € 6 % Health 32 137.324,41 € 6 % 38 76.283,31 € 3 % Total 268 2.321.722,14 € 100 % 308 2.361.426,24 100 % 309
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KEY FIGURES BY SDG (according to the B4SI model) 2025 2024 BREAKDOWN BY SUSTAINABLE DEVELOPMENT GOALS N. initiatives Economic value (euros) (%) N. initiatives Economic value (euros) (%) SDG 1. End poverty 10 73.341,37 € 3,2 % 37 119.837,40 € 5,1 % SDG 2. Zero Hunger 8 4.211,53 € 0,2 % 16 29.706,97 € 1,3 % SDG 3. Good health and well-being 60 92.198,20 € 4,0 % 73 197.504,91 € 8,4 % SDG 4. Quality Education 96 984.971,20 € 42,4 % 79 1.260.887,89 € 53,4 % SDG 5. Gender Equality 8 9.042,00 € 0,4 % 4 3.786,25 € 0,2 % SDG 6. Clean Water and Sanitation 1 10,60 € — % 4 11.255,20 € 0,5 % SDG 7. Affordable and clean energy — — € — % 1 5.280,00 € 0,2 % SDG 8. Decent work and economic growth 16 888.755,77 € 38,3 % 28 428.742,35 € 18,2 % SDG 9. Industry, Innovation and Infrastructure — — € — % 9 5.803,08 € 0,2 % SDG 10. Reduced Inequalities 13 235.663,48 € 10,2 % 8 97.505,10 € 4,1 % SDG 11. Sustainable Cities and Communities 14 4.676,40 € 0,2 % 12 43.911,50 € 1,9 % SDG 12. Responsible Production and Consumption 7 7.286,50 € 0,3 % 2 92.247,47 € 3,9 % SDG 13. Climate Action 3 4.530,10 € 0,2 % 12 20.734,99 € 0,9 % SDG 14. Life Below Water 2 90,10 € — % 0 — € — % SDG 15. Life on Land 4 5.018,47 € 0,2 % 8 9.382,55 € 0,4 % SDG 16. Peace, Justice and Strong Institutions 7 95,40 € — % 5 7.833,30 € 0,3 % SDG 17. Revitalize the Global Partnership for Sustainable Development 19 11.831,02 € 0,5 % 10 27.007,29 € 1,1 % Total 2025 2.321.722,14 € 100 % 308 2.361.426,25 € 100 % 310
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Participation in associations and organizations Gestamp endeavours to promote the industry and local development from various angles. Putting this commitment into practice, the company is actively involved in a range of initiatives geared towards social, technological and economic issues, in the form of business clusters and associations. Establishing alliances and fostering understanding between different actors in society and the sector is fundamental to creating a sustainable business ecosystem. This is the view taken by Gestamp, which is very active in organisations and associations. Always with the aim of promoting socio-economic development, innovation, digitalisation, talent, and contributing to the dissemination of knowledge in the automotive sector. Francisco J. Riberas, Executive Chairman of Gestamp, continued as Chairman of the Spanish Association of Automotive Suppliers (SERNAUTO) until May 2025, a position he has held since 2021, with the aim of strengthening the competitiveness of component manufacturers and continuing to position the Spanish supplier industry both inside and outside Spain. The commitment to innovation has always been a constant in Gestamp and this is reflected through its participation in organisations such as the University Institute for Automotive Research and the COTEC Foundation. Gestamp carries out constant innovation that seeks to strengthen its position as a technological leader and guarantee the sustainability, efficiency and competitiveness of its production processes and products. Knowledge transfer is also a priority axis in its business model, where the group collaborates in various educational and dual vocational training programmes. Participation in technological associations helps in the process of knowledge transfer of a new technology, which is the usual mechanism by which the organisation adapts to the requirements of new projects. These new projects also end up fostering socio- economic development as a whole. Gestamp participates in associations that promote information exchange and the creation of standards that help with information transparency along the sector's value chain, including Catena X. Gestamp also holds the presidency of the Spain-China Business Advisory Council and the vice-presidency of the main automotive clusters, as well as actively participating in the boards of directors of various bilateral and trade chambers. The institutional relations area seeks to dialogue and strengthen ties with institutional audiences to give visibility to Gestamp's contribution to society, and also collaborates in the development of public policies and regulations as a corporate citizen with ethics, transparency, integrity and professionalism. Similarly, Gestamp is registered in the EU Transparency Register and abides by the rules and principles set out in Annex I of the Interinstitutional Agreement. 311
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Bilateral Chambers of Commerce • German Chamber of Commerce for Spain (AHK) • Brazilian Chamber of Commerce in Spain (CCBE) • Spain-China Council Foundation • China Europe Business Council • Spain-United States Council Foundation • French Chamber of Commerce in Spain • Spanish Chamber of Commerce in Japan • EU Chamber of Commerce in China • Spain-India Council Foundation • Spain-China Business Advisory Council • Morocco-Spain Economic Council (CEMAES) • Tangier Chamber of Commerce • Chattanooga Chamber of Commerce • Spanish Chamber of Commerce in Mexico Regional clusters of Spain • Basque Country Automotive Cluster (ACICAE) • Aragon Automotive Cluster (CAAR) • Cantabria Automotive Cluster (GIRA) • Navarra Automotive Cluster (ACAN) • Automotive Cluster of the Valencian Community (AVIA) • Cluster of Automotive Companies of Galicia (CEAGA) • Automotive Industry Cluster in Catalonia (CIAC) • Automotive Forum of Castile and León (FaCyl) Industrial associations • SERNAUTO (Spanish Association of Automotive Suppliers) • Spanish Association of Automotive Professionals (ASEPA) • University Institute for Automotive Research (INSIA) • MEMA (Original Equipment Suppliers) • Sindipeças (National Association of auto parts manufacturers) • Argentine Association of Component Manufacturers (AFAC) • AFIA (Association of Manufacturers for the Automotive Industry) • Mobinov • Metalworkers' Employers' Union • Foment de Treball • Logistop • Spanish Association for Quality (AEC) • AIC. Automotive Intelligence Center • Industry 4.0 Chair at the Pontifical University of Comillas 312
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• Indesia • Catena X • CAR (Center for Automotive Research) • CANACINTRA • Czech Automotive Industry Association Economic partnerships • Exporters and Investors Club • Institute of Family Business (IEF) • Spanish Confederation of Business Organizations (CEOE) • Spanish Chamber of Commerce (CCE) • COTEC Foundation for Innovation Professional associations • Spanish Association of Managers (AED) • Association for the Progress of Management (APD) • DIRCOM (Association of Communication Directors) • CPOnet. Social Network for Purchasing Professionals • Spanish Association of Purchasing, Contracting and Procurement Professionals (AERCE) • Tecnalia • Chinese Society of Automotive Engineers ESG Associations • Forética (association of companies and professionals in Corporate Social Responsibility) • Spanish Network of the United Nations Global Compact • Business for Social Impact Steering Committee • Spanish Business Council for Sustainable Development • CEO for Diversity (Promoted by the Adecco Foundation and the CEOE) • CSR Europe • LBG Spain • IESE Institute for Sustainable Leadership 313
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Targets related to Social Action As part of the ESG Strategic Plan, a specific Social Action pillar has been defined, in which targets were set with a 2025 time horizon, involving a commitment to support local communities in the regions where Gestamp is present: Globally, these targets reinforce its commitment to society and the communities: Pilar Target/Commitment Related policies 2025 Target 2025 Result 2024 Result Baseline year (BY) SOCIAL CONTRIBUTION Investment allocated to Social Action projects (M€). Social Action Policy To be a key player in contributing to the sustainable development of the communities in which it operates, aligning its social contribution with its activity. €1.3M 2,32 € 2,36 € n/a Percentage of social contribution allocated to strategic lines. 70 % 85 % 87,9 % n/a To learn how stakeholder perspectives were considered in defining the targets of the 2023-2025 ESG Plan, see chapter "SBM-1: Strategy, Business Model, and Value Chain." The scope of the targets is the Gestamp Group. The targets were defined taking into account the evolution of the indicators and their potential projections based on the planned work. The following table sets out the targets and commitments of the 2026–2030 ESG Plan: Pilar Target/ Commitment Description Related policies Baseline year (BY) 2030 SOCIAL CONTRIBUTIO Target Implementation of the volunteer policy in production plants Social Action Policy To be a key player in contributing to the sustainable development of the communities in which it operates, aligning its social contribution with its activity. 2026 90 % 314
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IV. Consumers and end users (S4) List of IRO materials associated with the consumer and end-user standard (S4) The following are the impacts, risks, and opportunities identified through the double materiality analysis in relation to consumers and end users: Impacts, Risks and Opportunities Management policies Management actions 1 Targets 2 Code Type Description A/P Value Chain Personal safety of consumers or end users CUF1 I + Increased passive safety of vehicles with Gestamp components. Potential • Downstream • Own Op. Quality policy • All production plants have certified their quality management system through ISO 9001 together with IATF 16949. • Gestamp has a Quality System that integrates and implements a lessons learned directive, as well as its own computer system to share knowledge within the organization, thus preventing potential incidents, and feeding the continuous improvement methodology. • It conducts periodic internal, customer, third-party organization, and supplier audits. - CUF2 I + Better adaptation to the needs of the end user (for example, through innovation, safety, electrification and technological development) to improve product quality. Actual • Downstream • Own Op. Quality policy - CUF3 R n/a Manufacturing defective parts that lead to a decrease in vehicle quality and safety, resulting in associated costs of identification, review, replacement, and reputational damage. n/a • Downstream • Own Op. Quality policy - CUF4 O n/a Product differentiation and increased competitiveness thanks to innovation and technological development applied to the safety of parts. n/a • Own Op. Quality policy - I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 As mentioned, Gestamp has a supplier approval process through which it assesses the ESG risk of potential suppliers. Furthermore, it interacts with suppliers if any aspect considered significant is identified. For more information, see section "G1 – 2: Supplier Relationship Management". 2 No objectives have been defined in this standard, as mentioned below, since Gestamp is not directly linked to end consumers. 315
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SBM-2: Interests and views of stakeholders The company has various communication channels with its suppliers — including a digital platform for suppliers, contractual specifications, specific collaborations, periodic meetings, and local direct contact — which facilitate the early identification of issues, including those related to sustainability. The results obtained through the different stakeholder engagement mechanisms are incorporated into the double materiality analysis, ensuring that the conclusions rigorously reflect both the expectations of the workforce in the value chain and the real and potential impacts that the company may generate on them. For more information, see SBM-2. SBM-3: Impacts, risks and opportunities of relative importance and their interaction with the strategy and business model. Consumers and end-users are a priority in Gestamp's sustainability and development strategy, implemented through its customers. The company aims to ensure that its products are high quality and contribute to safer, more efficient and sustainable mobility. Through technological innovation, reduced environmental impact and advanced design solutions for the automotive sector, Gestamp not only meets market demands, but it also helps its customers achieve the highest standards in terms of safety. Regarding the material IROs related to consumers or end users of the products developed by Gestamp, all are subject to the identified positive impacts (no negative ones have been detected), regardless of typology, as the manufactured parts are integrated into OEM vehicles that are sold indiscriminately to users. The identified impacts occur during the vehicle use phase. These also derive from the high investment that the Group makes in R&D and from being considered a benchmark in terms of safety and quality of its parts. As for identified risks and opportunities related to consumers and end-users, they give rise to potential impacts. However, in the case of risks, the impact on which they depend is not considered to be material in 2025. Given the type of business activities undertaken by the company in the automotive sector, particular risks or opportunities are generated by its activity, as in the case of those identified for consumers and end- users. For further information, see SBM-3. 316
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S4 – 1: Policies related to consumers and end users. Obviously, the Gestamp Group does not interact directly with end consumers; its activity is indirectly related to public through the sale of parts to its customers, who assemble and sell them to end users. Therefore, Gestamp's customers are at the heart of everything it does, channelling consumers’ needs through them. To achieve this goal, Gestamp has implemented a Quality Policy. Gescrap, for its part, also does not interact with consumers or end users due to its business model. Quality Policy CUF1, CUF2, CUF3 and CUF4 Gestamp strives to become the most renowned automotive supplier thanks to its customer-focused approach and the quality of its products throughout their life cycle, boasting a sustainable financial, environmental and social footprint. To remain at the forefront of innovation in the automotive industry, it makes every effort to research and develop products with an innovative design and trend-setting technologies. Gestamp’s goal is to facilitate vehicles that are safer and lighter, in order to reduce energy consumption and environmental impact. In addition to applying its "flawless product" strategy, it endeavours to become a benchmark of quality for its customers through continuous improvement in its products and in the efficiency of its processes and systems (quality management system), focusing on preventive quality based on risk management. As a good corporate citizen, Gestamp takes responsibility for its products and employees, the environment, information security and everyone affected by its actions by complying with applicable requirements in the Group. In line with Gestamp’s corporate strategy, the following values represent its commitment: • The customer as the focus of the business • Operational excellence as standard practice • Innovation as the path to progress • Sustainability to ensure long-term stability • People as makers of success. The Quality Department, under the leadership of the Quality General Manager, is in charge of approving, implementing and monitoring this policy through the management system. The policy has been developed in accordance with the needs of the Gestamp Group, complying with applicable regulations and standards and made available to stakeholders through Gestamp's corporate website. For more information see: Quality policy The company's Human Rights policy does not apply to Gestamp's customers due to the impossibility of managing them beyond the quality scope. However, all Gestamp plants 317
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hold quality certifications and have a quality management system in place to meet all our customers’ requirements, thus ensuring that the IROs related to consumers and end users are properly managed. S4 – 2: Processes to collaborate with consumers and end users regarding incidents. Although no material impacts have been identified and the Gestamp Group’s business is not linked directly to end consumers, but rather indirectly, through the sale of parts to its customers, which then assemble them and sell them to end users, Gestamp has partnerships with consumers through its customers. The customers set up communication channels with Gestamp, such as customer portals, to convey their needs and expectations, as well as those of consumers and end users. Thus, if a complaint is detected by a customer, Gestamp takes the necessary steps to resolve the situation. For Gestamp, it is crucial not only to solve impacts in the short term, but also to improve in the long term, to increase customer satisfaction and, consequently, boost their loyalty. To this end, Gestamp has implemented an external complaints management directive. When a complaint is received, the problem-solving team is created, the root cause is analysed and containment and corrective actions are defined, along with preventive actions to avoid recurrence and to spread the lessons learned to other possible similar cases (also known as mainstreaming actions). In addition, the effectiveness of these actions is assessed. External complaints, i.e. those detected by Gestamp’s customers, are received over their official communication channels (customer portals). Through these channels, and at regular meetings, we collaborate with our customers to solve these issues. All these impacts reflect on the costs related to quality, and Gestamp has a system for recording, classifying, analysing and tracking them based on international standards, using IT systems linked to operations, such as SAP, Captor and Ariba, and data analysis tools like those developed in PowerBi, which are available at all levels of the organisation. The Quality General Manager is responsible for ensuring that this interaction with OEMs is carried out appropriately and in accordance with the described procedure. Furthermore, no consumers or end users that would be impacted in the event of an incident have been defined. 318
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S4 – 3: Processes for repairing negative incidents and channels for consumers and end users to express their concerns. Gestamp is committed to building solid, long-lasting relationships based on trust with customers. To achieve this, continuous dialogue is encouraged, which serves to better identify and meet their needs. Therefore, annual meetings are held at the highest level and in day-to-day activities, in both the industrialisation phase and the mass production phase. As indicated in the previous section (" S4-2"), Gestamp has communication channels open with customers in order for them to convey both their own needs and expectations and those of their end consumers (customer portals). External complaints, i.e. those detected and conveyed by Gestamp's customers, are resolved in regular meetings or other types of collaboration with their customers to find solutions. When a complaint is received, the problem-solving team is created, the 8D methodology (standard in the industry) is used to analyse the root cause, and containment and corrective actions are defined, along with preventive actions to avoid recurrence and to spread the lessons learned to other possible similar cases (also known as mainstreaming actions). In this process, the effectiveness of these actions is also assessed. To manage this process, a corporate IT tool (CMT) has been developed internally at Gestamp, and there is also an expert system for eliminating the causes of the issues, in which these action plans are managed. If the incidents are detected during the course of an audit, action plans are defined in another quality management tool called AMT (Audit Management Tool). 319
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S4 – 4: Adoption of measures related to material impacts affecting consumers and end users, approaches to managing material risks and taking advantage of material opportunities related to consumers and end users, and the effectiveness of such actions. Within Gestamp’s quality management system, a lessons learned directive has been defined and implemented, and an internal IT system developed in which to share knowledge across the organisation, thus preventing potential impacts and feeding into the continuous improvement methodology. Furthermore, numerous audits are conducted internally, by customers, third-party organisations and of relevant suppliers. These audits are managed in a Gestamp IT tool that includes the corresponding action plans in the event that non-conformities or opportunities for improvement are detected, comprising one of the pillars of continuous improvement. Gestamp emphasises the audits conducted by customers, because not only are they a means of control but they also enable the Group to discern the customer's viewpoint and to work to improve it. Each client decides on the frequency of these audits, which is usually yearly, but can be adapted according to the circumstances. Gestamp always works with the customer by arranging these visits, providing the information required to ensure the audit is conducted properly. Each client decides on the frequency of these audits, which is usually yearly, but can be adapted according to the circumstances. Gestamp always works with the customer by arranging these visits, providing the information required to ensure the audit is conducted properly. In this way, all of Gestamp's production plants have developed and maintain a quality management system that has the international certifications required by its customers, mainly ISO 9001 along with IATF 16949. Thus, all of Gestamp’s production plants have developed and maintain a quality management system that boasts the international certifications required by Gestamp’s customers, primarily ISO 9001 and IATF 16949. The management systems of each and every plant are based on a system of minimums at Gestamp known as GQS (Gestamp Quality System), thus ensuring an acceptable degree of uniformity across all the plants and featuring a common section, while also allowing for local adaptations. This management system aids Gestamp’s continuous improvement by focusing on the customer and promoting prevention over detection, resulting in fewer defects and less waste in the supply chain, in a safe and sustainable manner. As part of this quality management system, aligned with the Gestamp Quality Policy, the company has developed and implemented the following: • Risk management actions (the Risk Management Directive , or reinforcing the implementation of the FMEA methodology in projects); 320
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• Actions aimed at managing impacts detected internally or by our customers, including the analysis, definition and implementation of corrective and preventive actions (Claim Management directive; In-house nonconforming product and process directive; Corrective and preventive actions directive), and, with regard to those incidents, recording and analysing costs linked to quality (Quality related cost directive); • A Lessons Learned directive and IT tool for the purpose of sharing knowledge within the organisation to prevent potential incidents or non-conformities and to promote continuous improvement. In accordance with the terms of Gestamp’s risk and opportunity management directive, which includes a SWOT analysis to define the minimum requirements and recommendations for risk management so as to achieve the expected results, risk management at Gestamp not only encompasses the process of identifying potential adverse events, assessing them based on likelihood and impact, assessing the definition and implementation of actions aimed at properly managing risk to mitigate it and evaluating the efficacy of said actions, but it also includes a contingency plan to be followed in the event of a contingency, defined in advance at each plant in order to ensure the continuity of supply to our customers. Moreover, with a view to properly managing risks starting in the project phase, Gestamp has implemented a risk-prioritisation methodology based on the so-called FMEA (Failure Mode and Effects Analysis) cycle, one of the industry’s most stringent risk management standards in the project phase. In addition, Gestamp has developed a proprietary IT tool to manage possible failure modes and their effects, including detection thereof in both product design and the production process, identifying possible causes and actions to reduce them, so that the ultimate risk is lower. As mentioned above, Gestamp is not directly linked to end consumers and therefore, no serious human rights cases or issues related to consumers or end users have been reported. No negative material impacts on consumers and end-users have been described as a result of the double materiality analysis. However, to ensure that material impacts, risks and opportunities are properly managed, Gestamp has taken the aforementioned steps. The actions defined are not subject to a time horizon after which Gestamp estimates they will cease to be valid. 321
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S4 – 5: Goals related to the management of relatively important negative impacts, the promotion of positive impacts and the management of relatively important risks and opportunities. Gestamp does not have specific targets related to users and consumers. However, for the purposes of managing material impacts, risks and opportunities, Gestamp tracks the quality performance of the parts delivered to customers through the use of indicators based on the quality of the parts, customer complaints and special situations that could arise at all levels of the organisation (plants, regions, divisions and corporate). These results-oriented quality indicators are established based on the goals set by our customers and Gestamp’s own goals, and they are monitored on a monthly basis, taking action whenever there is a deviation from the established thresholds. 322
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4. GOVERNANCE INFORMATION I. Business conduct (G1) List of material IROs associated with the ESRS G1 Business Conduct standard: Corporate Culture GOB1 I + Push for decision-making focused on promoting the sustainability of the company as a result of a clear definition of a sound ESG governance model (e.g. definition of sustainability committee and commission, roles and responsibilities). Actual Own Op. • ESG Policy • Board of Directors’ Selection and Diversity Policy • Corporate Governance Policy • Regulations of the Board of Directors. Gestamp has a solid ESG governance model that ensures regulatory compliance and achievement of ESG Plan objectives: • The Sustainability Committee and the Audit Committee oversee the company's ESG performance. • Gestamp has an ESG Committee composed of the company's main General Directors and the Executive Chairman in an operational capacity. • Gestamp has an ESG General Director who reports directly to the Executive Chairman. • ESG training is developed for the Board of Directors. - GOB3 R n/a Operational inefficiencies in management arising from a corporate governance structure or practices that are not aligned with the established principles and standards of good governance. n/a Own Op. - GOB5 R n/a Breach of local or international ESG regulations (such as the Corporate Sustainability Reporting Directive, Corporate Sustainability Due Diligence Directive, CBAM, environmental legislation, etc.). n/a • Upstream • Own Op. ESG Policy - GOB6 R n/a Failure to meet public ESG targets/ commitments or those linked to financing. n/a Own Op. ESG Policy - GOB12 O n/a Aligning the ESG strategy with the sustainability risks identified, in order to ensure that they are correctly managed. n/a Own Op. ESG Policy - GOB4 R n/a Risk management inefficiencies stemming from inadequate integration of traditional risks and ESG risks. n/a Own Op. ESG Policy • Gestamp's Risk Management and ESG Management are in constant interaction, updating the Group's risk matrix and including ESG risks. • The assessment of the double materiality analysis has been aligned with the group's risk methodology. Subsequently aligning the results. Yes Impacts, Risks and Opportunies Management Policies Management Actions1 TargetsCode Type Description A/P Value Chain 323
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GOB11 O n/a Ensuring a diverse mix of profiles and skills on the company’s Board of Directors that encourages better strategic decision-making. n/a Own Op. Board of Directors’ Selection and Diversity Policy Gestamp has a Nominations and Remuneration Committee that ensures the composition of Gestamp's governance is robust and has the necessary competencies. Yes2 Management of supplier relationships, including payment practices GOB2 I + Increase in and assurance of best Environmental, Social and Governance practices among the company’s suppliers. Actual Upstream • ESG Policy • ESG requirements for suppliers • Gestamp has a supplier approval process that includes ESG aspects. • The approval process is periodically updated based on: regulatory requirements, customer requests, policies, etc. • In this way, Gestamp provides specific training to suppliers to improve their sustainability performance. Yes2 GOB9 R n/a R i s k o f r e g u l a t o r y n o n - c o m p l i a n c e d u e t o t h e lack of reporting and traceability capabilities associated with small suppliers. n/a Upstream • ESG Policy • ESG requirements for suppliers Yes2 GOB8 R n/a Failure to align corporate policies applied to the supply chain with new regulations. n/a • Upstream • Op. Propias ESG Policy (updated in 2023) Yes2 Corruption and bribery GOB7 R n/a Economic sanctions, in addition to reputational damage, resulting from possible internal actions that promote anti- competitive, monopolistic, corrupt or fraudulent practices. n/a Op. Propias • Anti-Corruption and Anti- Fraud Policy • Compliance Policy • Third Party Due Diligence Policy • Gestamp has a series of preventive actions derived from its anti-corruption and fraud policies, such as Third-Party Due Diligence. • The Group has a whistleblowing hotline through which any interested party can raise their concerns. Yes GOB10 O n/a Reputational improvement due to the implementation of enhancements in the company's Code of Conduct. n/a • Upstream • Downstream Code of Conduct • Gestamp has a series of preventive actions derived from its anti-corruption and fraud policies, such as Third-Party Due Diligence. • The Group has a whistleblowing hotline through which any interested party can raise their concerns. - Impacts, Risks and Opportunies Management Policies Management Actions1 TargetsCode Type Description A/P Value Chain I: Impact, R: Risk, O: Oportunity, +: Positive, -: Negative 1 For more information on the supplier approval process used to assess ESG risk and interaction with suppliers, see section "G1 – 2: Management of relationships with suppliers". 2The description of these objectives can be found in other sections previously described. 324
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Targets linked to ESRS G1: Gestamp, within its ESG Plan 23-25, has targets aimed at managing the most relevant aspects related to the identified IROs: Pilar Target/ Commitment Related Policies 2025 Goal 2025 Result 2024 Result Baseline year (BY) ETHICS AND GOOD GOVERNANCE Percentage of countries in which the criminal risk prevention program has been implemented. Policy against Corruption and Fraud It develops in a more specific way the internal regulations relating to corruption, fraud and bribery already established in the Code of Conduct. 60 % 100,0 % 62,5 % n/a Percentage of countries in which the third-party due diligence policy has been implemented. Third-Party Due Diligence Policy It establishes the principles and actions that must be carried out to allow for the proper management of two specific counterparty risks: integrity risks, and those related to compliance with regulations on international sanctions. 60 % 100,0 % 62,5 % n/a ESG risk assessment and management ESG Policy It establishes a series of principles of action in the environmental, social and good governance dimensions, with the objective of mitigating its negative impacts and enhancing the positive ones; mitigating the risks to which it is exposed; and capturing the opportunities. Done Done Done n/a To find out how stakeholder perspectives have been taken into account in defining the targets of the ESG Plan 2023-2025, see chapter "SBM-1: Strategy, business model and value chain". The scope of the targets is Gestamp Group. The definition of the targets was carried out taking into account the evolution of the indicators and their possible projections based on planned work. The scope of the targets is Gestamp Group. The definition of the targets was carried out taking into account the evolution of the indicators and their possible projections based on planned work. The following table sets out the targets and commitments of the ESG Plan 26-30: Pillar Target/ Commitme nt Description Related Policies Baseline year (BY) 2030 ETHICS AND GOOD GOVERNANCE Target Maintain a minimum number of independent directors on the Board of Directors N/A 50 % Commitment Strengthen governance through updated policies aligned with best practices. Third-Party Due Diligence Policy It establishes the principles and actions that must be carried out to allow for the proper management of two specific counterparty risks: integrity risks, and those related to compliance with regulations on international sanctions. N/A Periodic review Commitment Establish comprehensive risk management through policies and procedures aligned with best practices. N/A Implementation 325
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G1 – 1: Corporate culture and corporate culture policies and business conduct Business conduct CODE OF CONDUCT Gestamp has had a Code of Conduct since 2011. This document is the common reference framework for the ethical and respectful behaviour of the members of the governing bodies and employees contractually linked with the Group companies or with any of the subsidiaries in which the parent company holds, directly or indirectly, the status of majority partner. It contains the Rules of Conduct based on the Corporate Principles and on the Ten Principles of the UN Global Compact relating to human rights, labour standards, environmental standards and the fight against corruption30. On 28 July 2025, the Board of Directors of Gestamp Automoción, S.A. approved the current version of the Code of Conduct in order to adapt and update its content to meet the requirements arising from the new listed company status of the Group's parent company. The Code of Conduct can be found on the Group's website and Intranet and is available to both employees and third parties (suppliers, clients, local communities, etc.) in any of the languages used by the Group. WHISTLEBLOWING HOTLINE31 In order to respond to communications regarding possible breaches of the Code of Conduct and other internal regulations or legislation applicable to the Group, as well as in relation to suggestions, queries or doubts, Gestamp has a whistleblowing hotline with the following communication channels, whereby the confidentiality of the process and the rights of the people who communicate in good faith and of the people reported is guaranteed: • Human Resources Managers (Delegates): There is the possibility of reporting through the Delegates, who report the submitted complaints to the Compliance Office. • Compliance Office Mailbox: Corporate email address managed directly by the Compliance Office. • SpeakUp Line: A complaints channel managed by an external company has been available since December 2016. Such communication may take place via telephone, web form or email. It is available at all times in all the languages of the Group. Communications are managed through the Compliance Office. This channel is available to employees and people linked in any way to the Group (employees, clients, suppliers, collaborators, partners, shareholders and investors and local communities, among others) and is known to all of them because information 326 30 The Group does not have any policies related to animal welfare because it has no interaction with this topic, which is not deemed material for Gestamp. 31The result of the number of communications received during the year by type is included in chapter "S1–17: Incidents, complaints and severe impacts".
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about the channel is provided in the mandatory training on the Code of Conduct given to all employees. The reports are analysed and investigated as quickly as possible, applying the principles of confidentiality, non-retaliation and protection of personal data to all those involved in the investigation process, with a focus on the whistleblower and accused party. If an infringement is proven, the corresponding sanction shall be imposed by the competent internal bodies. SYSTEM CHARACTERISTICS 1 INTERNAL INFORMATION SYSTEM The system has certain key features, such as: • Information can be reported either in writing, verbally, or both. • There is a policy or strategy that states the main principles relating to the IIS and whistleblower protection. • It guarantees that reports can be processed effectively within the organisation. 2 MANAGER OF THE INTERNAL INFORMATION SYSTEM The system has a clear responsibility structure: • It has a system manager. • It adequately documents the functions of the “System Manager” and how such party should interact with both whistleblowers and external organisations, in the event of any notification requirements. 3 INFORMATION MANAGEMENT PROCEDURE The information management procedure contains the necessary provisions to ensure that both the internal information system and the internal information channels in place: • Send the whistleblower an acknowledgement of receipt of the report. • Include clear and accessible information about external channels for reporting the competent authorities. In addition to the reporting system, there are certain internal procedures and policies in place that ensure compliance with Whistleblower Protection Law 2/2023, which incorporates Directive (EU) 2019/1937 into Spanish Law. • Corporate Internal Information System (IIS) Policy : Approved by the Ethics Committee, the Audit Committee and the Board of Directors. • IIS Management Procedure: Approved by Ethics Committee. Both documents are available on both the company website and the Group Intranet and can be accessed by both employees and third parties (suppliers, clients, local communities, etc.) as users of the channels. The main changes are: • Deadlines are established for receipt, acknowledgement of receipt and investigation. • The option of anonymous reporting is established in writing. 327
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The Group is committed to collaborating and cooperating with the authorities and judicial and administrative bodies in relation to the investigation of alleged criminal acts that may be committed within the Group. The rules applicable to the Whistleblowing Hotline regarding the procedure for receiving, processing, recording and resolving communications received through the Internal Information System are set out in the Internal Information System Policy. The guarantees of this procedure are described in this document: a) Anonymity. b) Hearing. c) Promptness. d) Confidentiality. e) Independence and impartiality of case handling. f) Legality. g) Presumption of inocence. h) Retaliation prohibited. Two general principles of the Internal Information System (IIS) channels are defined: a) Tone from the top: Commitment of the Board of Directors and senior management. The Board of Directors, as the body ultimately responsible for the IIS, is committed to provide the necessary resources to ensure the integration of the system in the Group, in all established processes and at all business levels. b) Transparency in terms of the publication of statistical data and the findings of reports received through the Channels in the reports that the Group discloses to the market. If a report is filed in relation to workers in the value chain, it will be received through the Whistleblowing Hotline and the contents of the report will be forwarded to the Supplier Risk area, which is in charge of these reports, taking the following steps: 1. Analysis of the accuracy of the contents of the report. 2. Once it has been verified that the report contents are accurate, an action plan shall be created in line with the severity of the reported events. 3. If it is confirmed that the report is not accurate, it will be rejected. 328
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GLOBAL COMPLIANCE SYSTEM Gestamp has created a global compliance system that establishes a protocol for the organisation, prevention, management and control of compliance risks which, in general terms, has the following elements: COMMITMENT OF THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT (tone from the top) The Board of Directors, as the body ultimately responsible for the Compliance System, assumes the commitment to provide the necessary resources to ensure the integration of such system in the Group, in all established processes and at all business levels. Likewise, it undertakes to assist management in compliance with the Compliance System, promoting its continuous improvement at all times. The management of the Group's subsidiaries must be the ones to establish an appropriate ethical business culture, carrying out specific actions that demonstrate the subsidiary's commitment to compliance and that exemplify the behaviour expected from its employees. THE COMPLIANCE ROLE As is detailed in GOV -1 of this report, Gestamp has defined a global structure for the Compliance Role based on the three-lines protocol and has established supporting roles in the areas of ethics and compliance at both corporate and subsidiary levels. The bodies that comprise the Compliance Role have been provided with independence, autonomy, and sufficient resources to carry out their duties. CODE OF CONDUCT The Group’s Code of Conduct is the mainstay of Gestamp's commitment to integrity, which includes the Corporate Principles and Standards of Conduct that must guide the actions of members of the Board of Directors, executives, and employees of the Group at all times. RISK ASSESMENT Gestamp carries out a risk assessment process to identify those risk events associated with the development of the Group's activities, including compliance risks. The inventory of compliance risks configures Gestamp's Compliance Risk Map. The Audit Committee, with the assistance of the Regulatory Compliance Unit, periodically reviews the Compliance Risk Map, updating it as necessary in the event of changes in Gestamp's structure or activities or changes in applicable regulations. INTERNAL POLICIES AND PROCEDURES Gestamp has a series of internal regulations related to the management of risks, impacts and opportunities related to corporate governance. In all cases, the Board of Directors reserves the exclusive power to approve the general policies of this regulatory body, regardless of whether, depending on the subject matter, different corporate areas are responsible for contributing to their dissemination and promoting 329