Beyond our efforts to reduce 2025 operational scope 1 and 2 GHG emissions intensity by 20%, in 2022, we defined our ambition to support the Paris Agreement’s GHG emissions reduction trajectory and reach net zero for our scope 1 and 2 GHG emissions from our operated assets, by 2050. We have set a provisional roadmap for achieving a 50% reduction in emission intensity by 2030, against a 2018 baseline. We are working with energy providers and site partners to expand solar farms, improve our renewable energy mix and optimise our facilities. Capital investment in Infineum’s manufacturing facilities will continue, particularly for our ambitions beyond 2030.

Infineum is committed to helping its customers achieve their GHG emissions objectives. Infineum expects that its efforts could reduce scope 3 emissions by about 20% by 2030 while still meeting society’s demand for its products. To support this, scope 3 upstream and downstream emissions have been characterized using the GHG Protocol Scope 3 Standard. Infineum is working with its upstream suppliers to increase efficiency and improve energy mix. This is expected to result, for example, in the use of re-refined base oils in the manufacture of Infineum products and increased incorporation of renewable raw materials. Infineum is setting a scope 3 ambition to help drive the necessary innovation and investment in its industry towards increasing the supply of products with lower GHG emissions.

The extent of ultimate achievement of the above ambitions could vary depending on various factors, including Infineum’s ability to execute operational objectives, supportive changes in laws and regulations, and other market factors. See CAUTIONARY STATEMENT for more details.