Editorial Dear Readers, 2023 was another exciting year in our sustainability journey: our path to net zero 2050. In 2022, we journey. With the global rollout of our Group Strategy committed to the Science Based Targets initiative, Lead 2030, sustainability has become 昀椀rmly anchored which engages companies worldwide to signi昀椀cantly across our business. We have expanded our reduce their total carbon footprint. In 2023, we sustainability ambitions beyond our own operations by diligently formulated a comprehensive set of measures making them part of our customer promise with the aim linked with targets throughout the organization, which of being our customers’ best partner for productivity, we will submit for validation in 2024 to the Science safety and sustainability. Here are some of the Based Targets initiative. In terms of societal impact, our ‘Engaged Beyond highlights of what we achieved in 2023 across our three Business’ corporate volunteering initiative saw more strategic sustainability pillars: environment, people Within our circularity program, deemed pivotal for than 11,000 team members contributing roughly and society. achieving our science-based targets, we expanded 72,000 volunteer hours for over 850 social and initiatives throughout the cycle. We systematically environmental projects. Alongside our team members’ In pursuit of our 昀椀rst concrete CO target, we reached integrated sustainability into product design and further eagerness to make an impact via our corporate 22 expanded tool reuse options to include batteries. volunteering program, the long-standing social carbon neutrality within our operations by the end of 2023, reducing 60% of our Scope 1 and 2 emissions We developed proprietary software that allows us to engagement of the Hilti Foundation demonstrates our compared to a baseline set in 2019. The remaining plug in batteries that have been collected and assess dedication to making a positive impact in the society 40% are offset through projects developed exclusively whether they meet the criteria for having a second we live and work in. for Hilti in collaboration with the Hilti Foundation and an life. These structural developments are represented in external partner. The projects have been successfully the improvements of our qualitative Circularity Score, In summary, Hilti’s sustainability journey is marked by implemented and the CO22 savings are being monitored which helps assess the details of circular economy the noteworthy achievements mentioned earlier and a and veri昀椀ed by external parties. All our projects implementation within our company. plethora of others that await your exploration within this undergo third-party veri昀椀cation which is conducted report. As I review the consolidated developments and in accordance with either the “Gold Standard” or the Our commitment to the well-being of our people data-driven progress of our sustainability program, I am “Verra Veri昀椀ed Carbon Standard” for offsetting projects. remains high. The rollout of our safety mindset extremely grateful to our Hilti colleagues, customers roadmap continued with workshops and communication and partners for their continued support on this journey While reaching CO22 neutrality within our operations measures. These actions supported the reduction of to make construction better. marks a signi昀椀cant milestone, we have already the lost time incident rate in our own operations by 9%, embarked on the next step of our CO reduction having already fallen by 17% in the previous year. Peter Rupp 22 Head of Corporate Sustainability