Intercos * | (ESG Company Profile) | From ambition to measurable targets

Research evidence excerpt

Intercos * | (ESG Company Profile) | From ambition to measurable targets

ESG profile: Intercos

Italy | Personal care | MCap: EUR1.2bn

Release date: 16 July 2026

Filippo Piva In coordination with ESG Research Team

Equity Research Analyst Josep Pujal | +33 1 53 65 35 26

+39 02 80 62 80 09 Alina Moldovan | +33 1 70 98 85 84

fpiva@keplercheuvreux.com Anastassios Adamopoulos | +44 207 621 5187

ESG Highlights: From ambition to measurable targets

Governance: The company follows best practices in terms of board independence and the separation between the roles of

Chairman and CEO.

Management environmental stimulus: New 2026-28 LTI replaces EPS with EBITDA adjusted, retains relative TSR, and

tightens the CO2 target to SBTi-aligned absolute reduction.

Environment at the core of the business: The Beyond 2025 plan extends climate commitments to 2035 with SBTi

validation in progress; 85% renewable electricity already reached.

Litigation issue: Asbestos personal injury claims at US subsidiary Intercos America, partially dismissed; risk flagged as

medium-high internally.

ESG scoring 3.1/5

Governance factors Environmental and Social factors

ESG scoring synthesis

Topic Score (1/5) Weight Comments

Board 3.4 10.0 Experienced board, but the founder maintains a relative majority of voting power.

Remuneration 3.8 10.0 Balanced remuneration plan, low weight of ESG performance targets.

Shareholder's rights 3.0 10.0 Double-voting shares in place, no shareholder agreements.

Integrity/reporting 3.8 10.0 Consistent reporting, non-recurring items below 1% of sales.

Ethics/corruption 4.0 10.0 Commitment to most stringent international standards across all regions.

Subtotal Governance 3.6

Own footprint 2.8 20.0 Scope 1+2 intensity halved since 2021, SBTi target set.