Page 13 - Demo

MATERIALITYValeura conducted a methodical exploration of its stakeholders%u2019 expectations and concerns in 2023, and revisited that assessment in 2024. The Company%u2019s goal was to identify the topics that are most material to its stakeholders as regards their relationship with Valeura, and therefore have bearing on the long-term interactions between the Company and its stakeholders. These topics are then elevated as priority items to ensure the Company is best focusing its efforts on the most critical matters to ensure the ongoing sustainability of its business.Valeura intends to review and refresh its material topics on an annual basis, to ensure relevance within the constantly changing business and stakeholder landscape.Materiality Assessment ProcessAssessment of ImpactValeura considers the potential impact of a potentially material topic by gathering and evaluating inputs from surveys and interviews with stakeholders, including through internal workshops. The assessment is also guided by data gathered from industry peers, observed global trends, and perspectives offered by recognised thought leaders.PrioritisationTopics are prioritised based on desktop review and stakeholder engagement, and are prioritised relative to one another. Valeura has categorised material topics into three levels, defined from higher priority to lower priority, as Critical Topics, Focus Topics, and Fundamental Topics, respectively.ReviewMaterial topics are reviewed and endorsed by Valeura%u2019s executive management to ensure they are incorporated into business strategies and allocated appropriate resources to drive sustainability initiatives across the business.IdentificationAssessment begins by examining the business context, consulting internal and external experts, and conducting a thorough review of industry peers, global sustainability trends, and insights from internationally recognised sustainability frameworks including Global Reporting Initiative (GRI) Standards and SASB Standards to identify and screen for sustainability topics that are the most relevant to its business and stakeholders.VALEURA ENERGY INC. 013