Sustainability
as a strategy

We believe a transmission towards greener energy production, emission cuts and sustainable solutions in projects is not only sensible but essential to remain an attractive employer and a preferred supplier. Sustainability will increasingly become profitable.

Since 2014, we have been actively working on business development in offshore wind and established our first dedicated offshore wind environment in 2016. Our ambition is for more than fifty per cent of our turnover to be in renewable energy production, electrification & energy optimisation, green industrial projects and sustainable construction and infrastructure projects.

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Reporting

Sustainability Report Head Energy 2023
Åpenhetsloven Transparency Act

Summary and key figures

Head Energy is an independent Scandinavian engineering and consulting house offering a wide range of products to the onshore and offshore industries. We work with renowned customers in energy, plant and infrastructure and industry.

We are employee-owned, customer-focused and growth-oriented.

Vision

One step ahead. Our energy brings you one step ahead.

Ambition

Head Energy will become a reliable Scandinavian engineering and consulting group.

Values

Responsible - Inclusive - Innovative - Honest

Mission

We solve demanding projects.

Mission

We solve demanding projects.

Market Drivers

Changing energy markets - Industrial digitalisation - Outdated infrastructure - Urbanisation and smart cities - Electrification

Our Business

Consulting — Engineering — Solutions

Our Market Segments

Plant - Energy - Industry

Professionals hired
900
Major damage
(from 1,190.065 hours produced in 2023)
! 0
Locations
! 15
Growth in renewable energy in 2022
22%
Country
(more than 20 nationalities)
! 6
Absence in 2023
(down from 3.2% in 2022)
3%
Womens
Men
Women in the group
28%
Womens
Men
Women in leadership positions
31%
Womens
Men
Women on the Board
38%

Carbon Footprint

Head Energy's Sustainability Commitment

Climate change has emerged as one of the most significant global challenges of our time. L'acumulación de gasos greenhousecas no atmosfera, primaramente carbondioxide (CO2), ha a varias en tempi meteorológicas, una molte de consequencias ambientales.

Acknowledging the urgency to curb emissions, organizationsworldwide are increasingly adopting carbon accounting as a vital tool to understand and manage their environmental impact. 2022 was Head Energy Group's base year for carbon accounting and 2023 represents our first opportunity tomeasure development.

Head Energy's Sustainability Commitment

Head Energy has long recognized its responsibility to reduce environmental foot-print and contribute to sustainable development. With a focus on providing comprehensive energy solutions, the company strives to deliver innovation while minimizing its impact on the planet. By embracing carbon accounting, Head Energy aims to gain a deeper understanding of its emissions profile, identify areas for improvement, and implement effective strategies to mitigate its impact on climate change.

Carbon Accounting Methodology

To accurately assess and quantify its carbon footprint, Head Energy employed a robust carbon accounting methodology aligned with internationally recognized standards. Het bedrijfde gegevens van verschappen, waarden zijn toepassingen, supply-chain, en workeratactiviteiten. Por calculatingemissivos associados con través de trabajo, commuting, andthe purchase of steel, Head Energy obtained a comprehensiveoverview of its carbon footprint for the base year 2023.

Business Travels: Navigating Emissions

Business travels constitute a significant component of Headenergy's carbon footprint. As a global company, travel is an essential aspect of its operations, facilitating collaborations, client interactions, and project management. However, it also represents a source of carbon emissions. This report provides an in-depth analysis of the carbon emissions associated with Head Energy's business travels, exploring both short-haul and long-haul flights, ground transportation, and accommodation.

Commuting: A Sustainable Workforce

Another key driver of Head Energy's carbon footprint isemployee commuting. With a diverse workforce dispersed across multiple locations, commuting emissions present both challenges and opportunities. På commutingpatternen, alternativ transportalternativ, och telecommutingpractices, denne rapport delved into Head Energy's efforts to reduce its carbon footprint related to employee commuting.

Steel Purchases: Building Responsibly

The purchase of steel materials is an integral part of Headenergy's operations, particularly in EPCIC onshore and offshore projects. Maar, het productie van steels is knownto contribute to substantial carbon emissions. This report investigates Head Energy's steel procurement practices, analysing the lifecycle emissions associated with the steel supply chain and exploring potential strategies to minimize its carbon impact.

2023 — More Sustainable Growth

Head Energy Group delivered record revenues and solid growth in 2023. In absolute numbers, this contributed to 20,7% higher CO2 emissions compared to 2022. Noted that Head Energy has experienced a total growth in number of employees at over 26%, we have reduced CO2 emissions per employee in 2023.

Od, in 2023,.

In total, Head Energy Group has a 42.9% decrease in carbon emissions per employee from 2022 to 2023 (scope 1-2) and a 4.5% reduction in carbon emissions per employee from 2022 to 2023 (scope 1-3).

Purchased goods and services
41%
Business travel
27%
Employee commuting
17%
Fuel-and-Energy-Related Activities
6%
Wastes
4%
Anne Line S. Olsen
Chief Sustainability Officer
Head Energy Group

Words from the CSO

Sustainability - Our Ambitions.

A sustainable development is one that meets the needs of the present without compromising the ability of future generations to meet their own needs.

In 2023, Head Energy has taken significant steps in our internal sustainability efforts. This journey has been both challenging—requiring time and resources to master a complex field—but also incredibly inspiring.

We have introduced new reporting routines and systems across all departments and countries to comply with GRI standards. We have established quarterly sustainability meetings and positioned sustainability work within the group as a leadership responsibility, alongside finance and personnel management.

Our new sustainable business strategy will guide our future development and growth, as we recognize that sustainability equates to competitiveness. This means we will continue to adopt sustainable practices, implement efficient work processes, and create an inclusive and safe work environment for all employees.

Our success in sustainability depends entirely on the engagement, competence, and values of our employees. Perché, we will continue to share positive sustainability stories within our company—such as the second-hand markets for clothes, furniture, and tools in Stavanger and Bergen, and the leasing of electric bikes for our employees.

We are also proud of our social responsibility efforts, supporting activities for children and cultural events that foster inclusive and vibrant cities, as well as our international aid projects in Tanzania.

In 2024, we will continue to implement and build on the sustainable initiatives from 2023, focusing on continuous improvement and innovation in all departments. The people in our organization are the key to our success—together, we will develop more sustainable solutions.

Together, we are Head Energy's competitive edge.

UN Sustainability Goals

Head Energy Group acknowledges that due to our fossil-fuels background, we are part of the problem and must step up our efforts and heighten our ambitions in making meaningful climate and sustainability impact.

We also view sustainability as a great opportunity to make positive impact, to generate positive results, to build trust and strengthen our competitive advantage.

Our sustainability work aligns with the United Nations Sustainable Development Goals (SDGs), which integrate environmental, economic, and social development (ESG).

Based on our double materiality assessment, we have arrowed our main UN SDG down to four relevant sustainability goals to align with our own ESG goals:

By focusing on these goals, we aim to address key areas that contribute to a sustainable future. Head Energy is committed to actively working towards these goals, integrating them into our operations, and collaborating with stakeholders to make a positive difference. Through our sustainable strategy, Westrive to create value not only for our business but also for society and the environment.

Prioritization has been based on where Head Energy has the greatest potential to influence society towards a more sustainable direction. The selection is justified by the stakeholder and materiality assessment conducted prior to thesustainability report. This chapter summarizes the activities and results related to our material sustainability topics, specific measures, and goals for further work at Head Energy.

Our ESG Goals

Ambiente

1. Reducing Climate Impact

  1. Reduced carbon emissions by 55 percent within 2030— from a 2022 base year.
  2. Net-Zero by 2045
Sociale

2. Diversity & Equality

  1. Equal opportunities for all employees.
  2. Minimum ~40 percent gender balance on the Board of Directors from 2024
  3. Minimum 40 percent gender balance in management positions within 2030 (executive-, senior- and midlevelmanagement combined)

3. Employee Welfare & Safety+ value chain

  1. Zero major injures and serious incidents.
  2. Absence (sick leave) below 2.5% annually.
  3. Employee well-being score above 8.5 in heart rate monitoring (Winningtemp — scale 1-10)
  4. Employee well-being score above 5.0 in employee survey (Third-party survey — scale 1-6)
Governance

4. Governance & Organization

  1. General customer satisfaction score above 8.0 (annualsurvey — scale 1-10)

5. Ethical & Responsible Value Chain

  1. All suppliers shall adhere to our code of conduct

Extracting the findings from the stakeholder- and materiality analysis and aligning with the UN Sustainability Goals and the 1,5°Cambition, Head Energy Group has embraced the following sustainability goals:

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