Introduction Sustainability Report

Dear Shareholders,

I am honored to present the 2024 Sustainability Report. It underscores our commitment to creating healthier, more comfortable indoor environments while significantly reducing energy consumption. Sustainability remains a strategic priority at Belimo, deeply embedded in our mission and reflected in innovative products that enhance the energy efficiency of buildings worldwide.

Enhancing indoor air quality is central to our business, whether equipping new buildings with our innovative field devices or deploying them in RetroFIT+ projects. We closely monitor the positive impact of our products and are constantly seeking to improve the health and comfort of building occupants. This engagement is supported by our culture of credibility, founded on trust, integrity, expertise, and responsibility, which serves as the foundation of our value creation model.

Our sustainability goals propel us towards the decarbonization of our entire value chain– including purchased material, transportation, manufacturing and waste in own operations, and use-phase of our products. Recognizing the urgent need to minimize our environmental impact, Belimo joined the Science Based Targets initiative (SBTi) in 2024 and set ambitious climate targets in alignment with the latest climate science. Belimo will submit its near-term and net-zero emissions reduction targets for Scope 1, 2, and 3 to the SBTi for official validation and approval.

As of 2028, Belimo will most likely have to comply with the European Union’s Corporate Sustainability Reporting Directive (CSRD) and thus the European Sustainability Standards (ESRS) due to its subsidiaries in the EMEA market region. To ensure compliance early on, we undertook our first double materiality assessment, engaging key stakeholders – including the financial community, academia, associations, suppliers, and customers. This assessment has been instrumental in identifying the sustainability topics that are most relevant to our business and our stakeholders. They specifically emphasized our actions on climate change, our efforts to improve energy efficiency, our strategies for attracting, developing, and retaining talent, as well as our management of product quality, safety, and compliance.

Moreover, we have integrated climate-related risks and opportunities into our annual enterprise risk management (ERM) process, reporting in accordance with the new IFRS S1 and S2 standards – aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Our ongoing sustainability efforts contribute to the United Nations Sustainable Development Goals (SDGs), and we are proud to uphold the principles of the UN Global Compact. To ensure that our reporting aligns with global best practices, this report follows the Global Reporting Initiative (GRI) standards, and we are actively preparing our processes for future alignment with ESRS requirements by expanding our reporting scope and set of sustainability indicators.

These initiatives and activities are all part of our broader sustainability strategy which includes a comprehensive climate strategy with long-term plans for decarbonizing our business, aligning with internationally recognized standards and best practices, and future sustainability reporting requirements under the ESRS. Belimo is dedicated to making a positive impact on environment, society, and governance by focusing on the topics most relevant to our stakeholders. Consequently, Belimo will submit this report to a vote of its shareholders at the 2025 Annual General Meeting.

We thank all of our valued stakeholders for their continued support as we strive to achieve our sustainability targets.

Sincerely,