Arctic: Appear - Growth delayed, not derailed

Research evidence excerpt

Arctic: Appear - Growth delayed, not derailed

ESG Profile – Appear Taxonomy Sustainalytics’ Disclosed ESG

eligible ESG risk rating* n.a. targets activities  

*0-100 where 0 is best

ESG snapshot and disclosure KEY ESG RISKS

• Appear is a Norwegian broadcast infrastructure company with a Key risks How Appear is positioned

pure asset-light, software/hardware model and no manufacturing

facilities, as this is outsourced to Hapro Electronics.  Direct GHG emissions limited to employee business travel and office electricity. Contract

Climate and carbon risk manufacturer Hapro holds ISO 14001 certification. Formal GHG reduction targets to be • The company publishes ESG disclosures within its annual report,

addressing environmental matters, working environment, equality developed.

and supply chain due diligence.

 Product design actively reduces customer energy consumption, with the X Platform’s high

• Appear is subject to the Norwegian Transparency Act and Transition risk channel density replaces multiple devices, reducing rack space, power draw and cooling at

conducts annual supply chain due diligence per OECH guidelines. customer sites.

 Audit committee and remuneration committee established. Full NUES Code compliance, with

Integrity and governance

EU taxonomy alignment whistleblowing and compliance frameworks in place.

• Appear’s activities fall within broadcast technology hardware and Supply chain  Transparency Act due diligence completed for 2025.

software, which have low direct exposure to EU taxonomy-eligible

activities.

• No taxonomy-aligned revenue is currently disclosed. SELECTED ESG METRICS AND TARGETS

• The company aligns with NUES Code (Norwegian Corporate

Governance Code), with full compliance, with no deviations

reported for 2025

Gaschem Orca NS Frayja