Independent practitioner’s limited assurance report

We have been engaged by Management to perform assurance procedures to provide limited assurance on the Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 of CPH Group AG as for the period ended 31 December 2025.

The following Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 were prepared by Management of CPH Group AG:

The reporting process and the Greenhouse Gas (GHG) Scope 1–3 Indicators for 2025 in the Sustainability Report 2025 of CPH Group AG were developed by the management based on, among other things, the Greenhouse Gas Protocol, Corporate Standard, Revised Edition, and the associated Scope 3 Calculation Guidance as described in the section ‘Methodology used’ (hereinafter summarized as “suitable Criteria”).

The accuracy and completeness of the Greenhouse Gas (GHG) Scope 1–3 Indicators are subject to inherent limitations given their nature and methods for determining, calculating and estimating such data. In addition, the quantification of the GHG is subject to inherent uncertainty because of incomplete scientific knowledge used to determine factors and the values needed to combine e.g. emissions of different gases. Our assurance report will therefore have to be read in connection with the suitable Criteria.

Management is responsible for preparing and presenting the Sustainability Report 2025 in accordance with the suitable Criteria. This responsibility includes the design, implementation and maintenance of the internal control system related to the preparation and presentation of the Sustainability Report 2025 that are free from material misstatement, whether due to fraud or error. Furthermore, Management is responsible for the selection and application of the suitable Criteria and adequate record keeping.

We have complied with the independence and other ethical requirements of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour and relevant independence and ethical requirements as transposed in Switzerland by EXPERTsuisse.

PricewaterhouseCoopers AG applies International Standard on Quality Management 1, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Our responsibility is to perform a limited assurance engagement and to express a conclusion on the Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025. We conducted our engagement in accordance with the International Standard on Assurance Engagements 3410, Assurance Engagements on Greenhouse Gas Statements (‘ISAE 3410’), issued by the International Auditing and Assurance Standards Board. That standard requires that we plan and perform our procedures to obtain limited assurance whether anything has come to our attention that causes us to believe that the Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 were not prepared, in all material respects, in accordance with the suitable Criteria.

Based on risk and materiality considerations, we performed our procedures to obtain sufficient and appropriate assurance evidence. The procedures selected depend on the assurance practitioner’s judgement. A limited assurance engagement under ISAE 3410 is substantially less in scope than a reasonable assurance engagement in relation to both the risk assessment procedures, including an understanding of internal control, and the procedures performed in response to the assessed risks. Consequently, the nature, timing and extent of procedures for gathering sufficient appropriate evidence are deliberately limited relative to a reasonable assurance engagement and therefore less assurance is obtained with a limited assurance engagement than for a reasonable assurance engagement.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.

Based on the work we performed, nothing has come to our attention that causes us to believe that the Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 of CPH Group AG for the period ended 31 December 2025 are not prepared, in all material respects, in accordance with the suitable criteria.

The comparative Information to the Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 of CPH Group AG for the period ended 31 December 2025 was not subject to an assurance engagement. Our conclusion is not modified in respect of this matter.

This report is prepared for, and only for, Management of CPH Group AG, and solely for the purpose of reporting to them on Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 and no other purpose. We do not, in giving our conclusion, accept or assume responsibility (legal or otherwise) or accept liability for, or in connection with, any other purpose for which our report including the conclusion may be used, or to any other person to whom our report is shown or into whose hands it may come, and no other persons shall be entitled to rely on our conclusion.

We permit the disclosure of our report, in full only and in combination with the suitable criteria, to enable Management to demonstrate that they have discharged their governance responsibilities by commissioning an independent assurance report over the GHG Scope 1–3 Indicators 2025 in the Sustainability Report 2025, without assuming or accepting any responsibility or liability to any third parties on our part. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Management of CPH Group AG for our work or this report.

PricewaterhouseCoopers AG

Zürich, 9 February 2026

PricewaterhouseCoopers AG, Birchstrasse 160, 8050 Zürich,
Telephone: +41 58 792 44 00, www.pwc.ch

The maintenance and integrity of CPH Group AG’s website and its content are the responsibility of Management. The work we have performed as the independent assurance practitioner does not involve consideration of the maintenance and integrity of the CPH Group AG’s website. Accordingly, we accept no responsibility for any changes that may have occurred to the reported Greenhouse Gas (GHG) Scope 1–3 Indicators 2025 in the Sustainability Report 2025 or the suitable criteria since they were initially presented on the website.