ESRS S1 Own workforce [S1] Own workforce

Impacts, risks, and opportunities [S1 SBM-3] Material impacts, risks, and opportunities and their interaction with strategy and business model

Impacts, risks, and opportunities

Within the scope of the materiality analysis, Fresenius has identified the following material impacts, risks and opportunities related to Own workforce:

Approach [S1-1] Policies related to own workforce

Group approach to human resources

In 2024, the new Group Human Resources function was established. This combines the Human Resources functions of Fresenius Corporate and the Operating Companies. Under the responsibility of the Chief Human Resources Officer (CHRO), the management team in the Group function takes on the global management of important human resources issues. The roll-out of the respective changes in governance structure has been conducted stepwise since 2025.

The new organization is based on what is known as the Employee Journey, i.e. comprehensive support of own workforce, encompassing own employees and temporary workers from the recruiting and selection process, through further development, to the point at which they leave the company. The employees should be provided with the best possible support in the various phases of their careers while also being promoting in their engagement and development. At the corporate level, global Centers of Excellence (CoE) have been formed to focus on key human resource topics such as Talent & Leadership or Total Rewards. HR (Human Resources) Business Partners work at the interface between the CoEs and the Operating Companies. They advise on HR matters and translate business strategy into HR needs at the global, national, and local level. Together, they strive to build an effective HR organization that focuses on innovation and collaboration.

Regulatory changes in the industry, but also increasing digitalization, cost pressure in healthcare, and the resulting need for greater process efficiency characterize the working environment. By setting up a global HR function, Fresenius wants to ensure that the future and identified impacts, risks, and opportunities under these circumstances are adequately addressed. An organizational transformation has been initiated, and the associated measures have been implemented from 2025. For example offers or approaches were developed during the reporting year that will be rolled out in the future. They are, among other things, derived from the results of the employee survey 2024, and the main HR metrics, as listed in this topical standard. Current HR-related market trends were also incorporated into the development of the organizational transformation. Fresenius has announced the ongoing changes on the Group intranet and will continue to provide updates through internal communications.

Within the Management Board, the Sustainability Board member is responsible for managing strategic Group-wide targets and projects in the area of human resources. The Chief Human Resources Officer (CHRO) of the Fresenius Group reports directly to this Member of the Management Board. The existing reporting and control processes shall ensure that adequate reporting lines are or will be established to identify, monitor, manage, and oversee impacts, risks, and opportunities. Until then, the operational implementation will take place within the Operating Companies or their divisions. The management concepts for the company’s own employees are the responsibility of the respective management functions and are anchored in the local organizations. Responsibility for personnel issues is regulated, for example, by a business allocation plan. In the Group Human Resources Leadership Team of Fresenius, the personnel managers and responsible Operating Company functions and the Group Human Resources function discuss personnel issues on a monthly basis and make decisions on Group-wide projects and initiatives. The Sustainability Board member is bi-weekly informed about this by the Group Human Resources function. The cooperation between the Management Board, the Supervisory Board, and the employee representative bodies, e.g., the European Works Council, is described in the Dialogue with own workforce and employee representatives section of this topical standard.

Policies related to working conditions Connection to material IROs 14, 15, 16, 17, 18

The commitment of the more than 178,000 employees worldwide forms the basis of Fresenius’ success. Their achievements, skills, and dedication help the Operating Companies to hold leading positions in their respective markets.

The employees in the Fresenius Group have supported the changes that have occurred in recent years, partly due to the pandemic, in the production facilities, logistics and distribution centers, and, last but not least, in the hospitals. Whether it is recruitment, employee retention and development, or working models, the changes are also increasing due to the further digitalization of work steps and processes. Many of the innovations have proven to be so efficient and useful that they will be retained permanently. These include, for example, the virtual or hybrid implementation of training courses, programs, and team meetings. Initial interviews with applicants as part of the recruitment process are sometimes conducted virtually. Through flexible working time models, targeted personnel development, and strategic succession planning, Fresenius aims to create an environment that attracts, promotes, and retains talent – and thus sustainably strengthens its competitiveness and employer appeal.

Internal communication on material sustainability aspects as described in this topical standard takes place continuously on the Group intranet and through appropriate communication to departments, groups of people, or all employees by email or other suitable communication channels. Employees are provided with the most relevant guidelines and documents. Explanations of the management concept regarding balanced interests through employee representation can be found in section S1-2.

Group-wide guidelines and requirements

At Group level, the Code of Conduct, as described in topical standard G1 Business conduct, forms the basis for day-to-day activities. Additionaly, there is a large number of additional guidelines within the Group that specifically determine the working environment and the scope of activities of the employees. The established guidelines serve to counter the actual and potential impacts and risks in an orderly manner. Measures derived from management concepts are based on them. The respective content is the responsibility of the Operating Companies and specialist areas. Applicable collective bargaining agreements set further provisions regarding wage levels and other conditions in certain professional or tariff groups. Apprentices, student trainees, dual students and interns generally work on the basis of employment contracts, i.e. training and internship contracts.

The Group Policy on Social and Labor Standards describes the global social and labor law minimum standards. Employees and managers in all Operating Companies of the Fresenius Group are expected to comply with this policy without exception. Lower standards are not acceptable. Should national laws or practices restrict or contradict the standards set out in this policy, Fresenius will nevertheless apply the policy to the extent permitted by local laws. In addition, Fresenius requires third parties, such as contractors, consultants, suppliers, and intermediaries, as well as other business partners, to comply with this policy and to apply comparable social and labor standards for all employees in their own operations, including their supply chains. Further explanations can be found in topical standard G1 Business conduct, section Resilience and compliance in global supply chains.

Fresenius’ Group policy is based on internationally recognized human and labor rights, namely the Universal Declaration of Human Rights and two human rights instruments derived from it: the International Covenant on Civil and Political Rights (ICCPR) and the International Covenant on Economic, Social and Cultural Rights (ICESCR), as well as the Declaration on Fundamental Principles and Rights at Work of the International Labour Organization (ILO).

The participating functions Global HR, Labor Law, and the Human Rights Office consulted with other relevant departments to help design the content of the policy. Furthermore, the requirements of various stakeholder groups, e.g., employee representatives, were considered in the development of the policy.

Recruitment

In order to meet the future demand for qualified specialists, Fresenius uses a variety of different tools to recruit staff. The working environment and competitive surroundings are monitored closely to identify potential. Furthermore, the company uses digital personnel marketing, organizes own recruitment events, and presents itself at career fairs. In recent years, the range of personnel marketing activities has been significantly broadened. Fresenius also wants to be perceived as a reliable employer that values integrity.

Temporary workers, as defined under S1-7 Non-employees, are deployed in the Operating Companies to compensate for short-term staff shortages, particularly in the area of care, in medical services, or in the event of temporary fluctuations in capacity utilization in production. Temporary workers are also partially hired for temporary replacements such as parental leave or long-term illness, or for support in projects.

The search for employees focuses on the following fields of action: training of qualified personnel internally, advertising for skilled workers, and searching the international labor market. The diverse in-house training opportunities can prevent regional or local staff shortages. In part because the training situation in Germany has worsened, particularly in the care sector, Fresenius is focusing on training young talent and specialists, e.g., in 35 own training centers with 68 schools in the specialist healthcare professions. In the hospital segment, Fresenius also uses partnerships with universities and own training centers to bring graduates into contact with the company at an early stage and build up a relationship with them.

To find international employees, Fresenius Helios in Germany, for example, takes part in official recruitment campaigns. In addition, employees who have completed vocational training in the care sector abroad are supported, e.g., with applications or the search for language schools in Germany. In Spain, employees can be recruited from other countries. In case an Operating Company of Fresenius cooperates with an agency, it has to ensure that no human rights violation takes place due to non-compliant business practices before entering into a contract. This assessment can be part of a business partner due diligence.

In the reporting year, Fresenius continued to face strong competition for personnel in the healthcare markets. Particularly in the hospital sector, it became apparent that positioning as an attractive employer, good working conditions, and flexible working models are essential in order to be perceived as an interesting company. The staff shortages continued, but were minimized by the focus on in-house training and development of own employees, as already explained. Further human capital development programs should further support this progress.

Employee development

Fresenius offers its employees the opportunity to develop professionally in a dynamic international environment. To this end, different policies and actions for personnel development in the countries and regions are applied – depending on their own customer and market structures. The Group constantly adapts its approaches to current trends and requirements and also takes into account the feedback from employees. In addition to Group-wide mandatory training courses on the respective Code of Conduct and on integrity, there are mandatory training courses on environmental management, occupational health and safety in the Operating Companies, and, where appropriate, quality management. Training on the Code of Conduct is mandatory for all employees, including part-time employees and encompasses also basic training on anti-corruption. Furthermore, employees receive training on ethical aspects in the workplace, such as social standards, human rights, and ethical business conduct.

As outlined in the topical standard G1 Business conduct, section Metrics, all employees in at-risk-funcition are trained on anti-corruption, anti-trust and ethical business standards as part of compliance trainings. If training for employees of business partners is required, this is subject to respective clauses and contractual agreed, as described in topical standard S4 Consumers and end-users, section Health and safety. Digitalization is also playing an increasingly important role in the daily work done by Fresenius’ employees. Therefore, Fresenius integrates digital skills in alignment with the digitalization grade of the respective function. Segment-specific talent management and individual further training offerings for employees and managers are the other personnel development measures. Since November 2025, LinkedIn Learning has been available to all employees at Fresenius – initially for units within Corporate, Fresenius Kabi, and Fresenius Helios in Spain. Starting in the second quarter of 2026, it will also be accessible to Fresenius Helios in Germany, and thus to all employees. This marks an important step to further roll out new products and processes across the Operating Companies.

All employees who are directly involved in production, as well as employees who work in a supporting role (e.g., technical maintenance, IT) receive mandatory training in job-related good manufacturing, control, and distribution practice and in occupational health and safety and environmental protection. Further information can be found in section S1-13 Training and skills development metrics.

Succession planning

The succession planning process was continued in 2025 throughout the Group. The focus was on 44 key positions up to 2 levels below the Management Board. For these positions, both successors who can take on the corresponding roles in a timely manner in an emergency and potential successor candidates were defined. Equal opportunity and non-discrimination are also taken into account in this process. In the reporting year 2025, there were no changes in the Management Board.

Leadership development

Fresenius SE & Co. KGaA promotes Group-wide exchange among executives and conducts cross-segment development programs.

• Since 2024, an annual Top Management Meeting has been held to discuss the priorities for the current fiscal year and the strategic transformation. These priorities are then communicated within the Operating Companies to the respective business units in order to reach as many employees as possible.

• The Fresenius TopEx Group (approximately 55 top executives) also meets regularly, both virtually and in person, to exchange views on current developments and to jointly shape transformation initiatives.

For the top management levels, Fresenius also offers two cross-segment development programs in cooperation with renowned business schools.

In addition, the Operating Companies offer their own development programs for their executives. Furthermore, management development programs are offered and implemented for experienced managers in specific professional groups and across professions.

Employee retention

Due to the development of the global HR function and further reorganization measures within the Group, the management approaches to employee retention focus on creating structures that support the long-term success of the company. After successful implementation of the planned measures within the framework of #FutureFresenius, further employee retention activities can be implemented as needed. In addition, Fresenius is working on positioning and strengthening its employer brand.

Fresenius aims to offer employees at Corporate and Operating Company level basic compensation that shall be in line with the market, transparent, and appropriate. Within the Operating Companies, there are internal guidelines for employees covered by collective agreements and non-tariff employees with regard to working hours, jobs, and benefits.

Compensation is usually based on local market standards and should be market-oriented, transparent, and appropriate. It is based on requirements set by law or, where applicable, specified by the salary structures negotiated with the respective trade unions. Fresenius compensates employees according to specific rates that meet or exceed local industry conditions, but at least match living wages. Any discrimination on the basis of gender or other criteria must be prevented. Benefits for full-time employees of the organization are also provided proportionally to part-time employees. In Germany, benefits can be based on joint agreements between the employer and works councils.

In addition to a base salary, collective agreements also include variable components. As an international healthcare Group, Fresenius creates various incentives for employees, depending on the country and location.

Fresenius offers, in addition to base salary, various supplementary benefit components, for example employee benefit programs, profit-sharing bonuses, pension plans, compensatory time accounts, and tariff-based future payments. Not all elements are implemented equally within the Fresenius. However, they may be accompanied by local benefits depending on the market and employee requirements and regulatory provisions. When developing performance components, the focus is on ensuring that performance reflects the value of a position, as well as market trends for the respective career level and local requirements. A non-discriminatory compensation structure must be ensured.

Participants of the employee participation program SHARE can purchase a discounted block of ordinary shares in Fresenius SE & Co. KGaA every year. The program also includes the distribution of an amount linked to the achievement of four specified targets. The new FlexBenefits budget was already used during the reporting year. Employees can choose between various benefits in the areas of health, mobility, or family and are thus supported with sustainable and customized benefits. Both offers are equally available to employees of the participating companies in the Corporate / Other segment, including Fresenius Digital Technology GmbH, as well as all German companies at Fresenius Kabi. Employees from the in 2025 newly founded Fresenius Health Services GmbH are excluded.

Flexible working models

The feasibility of flexible or mobile working models depends to a large extent on both operational requirements and local conditions. A high proportion of shift work, frequent overtime, or inflexible working hours can lead to physical and mental exhaustion among employees in the healthcare sector. These psychological strains may contribute to increased absenteeism or reduced job satisfaction, leading to a negative impact on employee turnover. Over time, such working time conditions can undermine workforce stability, impair the quality of care or innovation, and negatively affect the organization’s resilience. In recent years, part-time and flextime models, job sharing, and flexible mobile working models, among other things, have been further made available for employees in administrative areas in particular.

Increasing digitalization of collaboration and work processes is also supporting the implementation of more flexible working models for certain functional groups. In order to acquire the necessary digital skills, employees receive training tailored to their needs. For more information on the digitalization of Fresenius’ products and services, please refer to the company-specific standard S-Digital transformation chapter.

The Fresenius Group also supports employees during career changes. Intra-Group transfers, including across national borders, are made possible by the internal publication of vacancies in the Operating Companies. This is intended to retain employees within the Group, highlight new opportunities, and support their continued development. This is partly complemented by transition programs for people entering retirement, e.g., long-term accounts or phased retirement arrangements. The respective programs and measures are based on local requirements. There are individual agreements with employees or collective measures.

Further policies related to working conditions: occupational health and safety Connection to material IRO 18

As a healthcare Group, Fresenius not only bears responsibility for the well-being of patients, but also for the health and safety of the employees. The Fresenius Code of Conduct stipulates that the company takes the necessary measures to protect its employees and prevent work-related accidents and illnesses. Further, the Human Rights Statement references the importance of occupational health and safety. Creating a safe and healthy working environment is a priority. When it comes to health protection, prevention is Fresenius’ basic principle: Therefore the company provides the employees with comprehensive programs to promote their health and prevent work-related illnesses. The return of employees after an illness is regulated, for example, by the company integration management system.

Fresenius has introduced numerous management systems and measures throughout the Group and adapted them to the specific business models of the Operating Companies. They focus on occupational health and safety in the production area as well as occupational health management for employees in healthcare facilities or in administration. All locations are also subject to the respective local regulations and laws. Compliance with these regulations is ensured at local level. In addition to statutory provisions, internal guidelines and directives such as management manuals and standard operating procedures also play a significant role in occupational health and safety. In addition to the Group-wide Fresenius Code of Conduct, the Operating Companies have their own guidelines that regulate occupational health and safety, e.g., the Clinical Code of Conduct for the rehabilitation and nursing units and medical personnel in the healthcare services market segment.

The internal requirements are supplemented by corresponding internationally recognized standards for management systems such as ISO 45001 at some locations as well as other certifications in accordance with ISO or national standards. The overarching aim of the ISO 45001 management system is to continuously improve occupational health and safety management, align it with internationally recognized methods, and ensure the effectiveness of existing procedures and systems. To drive this forward, Fresenius is consistently expanding the number of entities certified to this standard. The Group has the ambition to create a uniform occupational health and safety management system in all Operating Companies in order to optimize occupational health and safety in a standardized manner.

The management systems as well as applicable occupational health and safety regulations and instructions for employees of the Fresenius Group also apply to individuals with temporary employment contracts. This ensures that people performing work on a company site or in buildings are sufficiently protected.

Organization

Occupational health and safety at the Fresenius Group is organized on a decentralized and country-specific basis. The Management Board members responsible for the Operating Companies are responsible for operational management. Responsibility and control for occupational health and safety lies with the respective management bodies, committees, or management functions of the Operating Companies and is anchored in the local organizations. They decide on the management approaches and regulate the responsibilities within the management, e.g. via a business allocation plan. The business allocation plan of the Management Board does not provide for a separate department for this purpose.

In the reporting year, Fresenius began establishing a central safety function, which will be embedded within the Group function Risk & Integrity. Initially, this function focuses on the centralized collection of data in the area of fire protection. In the future, occupational safety topics will also be integrated.

The occupational safety specialists provide advice and support on all matters relating to occupational health and safety. This includes, for example, determining the need for risk assessments as well as their preparation, implementation, and effectiveness monitoring. At a local level, Fresenius works closely with the relevant accident insurance institutions and authorities in the interests of the employees and the temporary workers Fresenius employs.

Monitoring process

ISO 45001-certified sites as well as all clinics, subsidiaries, and service companies of Fresenius Helios in Germany have an occupational health and safety committee. In addition, national requirements are to be applied, which may include the provision to establish health and safety committees. At their regular, e.g., quarterly, meetings, these committees discuss identified risks and possible measures and review the effectiveness of the defined measures.

At clinic locations in Germany and Spain, local employee representatives have introduced similar committees.

Within the Fresenius Group, applications are used that help to manage, evaluate, and control personnel data. The evaluations serve as information for various internal stakeholders, e.g., employee representatives. In this way, Fresenius creates transparency with regard to the most important key figures. Furthermore, the key figures enable joint decision-making in the Human Resources Leadership Team, the derivation of measures where necessary, and an exchange of best practice examples in order to further develop HR management in the Operating Companies. Fresenius also regularly records and reports data on occupational health and safety – such as absenteeism, occupational illnesses, or accidents at work – e.g., monthly or quarterly, in order to identify deviations. If deviations occur, specialists initiate a root cause analysis, evaluate the results, and implement corrective or preventative measures if necessary.

In addition, on-site coordination is primarily used to monitor the effectiveness of risk assessments and the effectiveness of local management approaches to occupational health and safety. In the healthcare services market segment, specialized occupational health and safety experts, occupational physicians, and hygiene specialists check whether the requirements, e.g., for occupational medicine, occupational health and safety and their management, are being met in accordance with official regulations. In doing so, they continuously coordinate cross-functionally and develop improvement processes.

The Management Board is informed about occupational health and safety as part of risk reporting, i.e. about risks or incidents that could have a significant impact on rights holders and the operating business, reputation, or value chain of the Group and its Operating Companies.

Risks and incidents are consolidated as part of the annual reporting at Group level. The Supervisory Board as a body is informed of the results at least once a year.

The commitment of some Operating Companies to occupational health and safety is supported, monitored, or certified by external partners or supervisory authorities.

The local managers review the approach to occupational health and safety to ensure its continued suitability, appropriateness, and effectiveness and to identify potential for improvement, e.g., on an annual basis. Regular, in some cases annual, internal audits support the verification of data and management approaches for both ISO 45001-certified and non-certified entities. In this way, Fresenius ensures compliance with internal guidelines and regulatory provisions. The management system of the production facilities is audited and certified annually by external audit and certification bodies, for example. If other external institutions conduct audits, these are coordinated with local management.

Risk assessments

An occupational health and safety (OHS) system includes processes for identifying hazards and deficiencies, assessing risks of potential incidents, and determining control, correction, or mitigation as well as prevention and improvement measures. These risk assessments are an important part of occupational health and safety management.

Physical as well as mental or psychosocial health and safety risks are identified, analyzed, and evaluated at workplace level and reduced to an acceptable level through targeted measures, or avoided, where possible. The assessments include hazards that arise from work-related activities in the immediate vicinity of the workplace, as well as those that exist outside of the workplace but that may still affect workplace health and safety for employees. Risk assessments include all employees who perform or have access to routine and non-routine activities at workplaces. All current and planned workplaces, workflows, (OHS) processes, and tasks and their design are assessed – as are human factors such as individual behavior. The design of workplace infrastructure, equipment, and materials, whether provided by Fresenius or by third parties, is also included.

Corresponding risk assessments are carried out regularly – usually annually, but at least every three years – and in close consultation with the respective department heads and local experts responsible. In the production sector as well as in the hospital sector, employees are included in the risk assessment. Documentation is recorded in relevant safety and health protection documents. Key risk areas are identified, for example via accident reports or employee input, and undergo rigorous assessment. In addition, risk areas in clinics and in production are also examined preventively for potential hazards. The assessments are implemented by the Operating Companies in accordance with applicable legal requirements for risk assessments as well as the requirements for ISO 45001 certification and the implementation of necessary controls. In Spain, for example, sexual violence is part of the risk assessments as required by Spanish regulations.

In addition, processes are in place for dealing with particularly vulnerable employees. These include pregnant women, women who have recently given birth or are breastfeeding, employees with recognized impairments or disabilities, minors, and employees who are particularly susceptible (temporarily or permanently) to the risks associated with their work due to personal or socio-occupational characteristics or their physical constitution. The purpose is to take special preventive and protective measures through the health monitoring service tailored to their positions or activities – for example by adapting their workplace or transferring their activity to another one.

If a company uses biological agents, these substances are evaluated in accordance with applicable legal regulations. The corresponding internal risk assessment is recorded in a health and safety document. Preventive measures are established before the respective process is initiated. In addition, hazardous materials inventories are maintained in the clinical area. Laboratories that work with biological materials such as cell cultures are classified separately in accordance with the Infection Protection Act (Infektionsschutzgesetz) in conjunction with the Biological Agents Ordinance (Biostoffverordnung) and local regulations. The risk and safety levels are determined based on these criteria. This results in the required risk assessment for biosafety.

Training

The Fresenius Group conducts regular occupational health and safety training to prevent incidents in its fields of operation. To prevent work-related injuries and occupational accidents, all new employees in defined functional areas receive safety training at the beginning of their employment, and standard training at least annually thereafter. Further employees are also being trained. In particular, incident scenarios with potentially high risks are practiced. Fresenius Helios in Germany, for example, conducts quarterly drills on power failure scenarios, in different parts of the building each time.

In addition to the standardized approach to occupational health and safety, the Operating Companies conduct training for specific workplace risks. In the clinics, employee health and safety training courses cover, besides general topics, specific areas such as hand hygiene, safely handling work equipment / medical instruments, protection against infections, as well as emergency prevention and response. Training provided at production sites focuses on, among other topics, safely handling work equipment and chemicals, and emergency prevention and response.

At Fresenius Kabi, the global OHS function checks not only compliance with applicable standards during internal audits, but also, for example, the training matrix and whether relevant training has been carried out. Any relevant deviations will be included in the local and global Corrective and Preventive Action (CAPA) list, to ensure any potential gaps are closed systematically. All sessions are available on the global EHS (Environment, Health, and Safety) and OHS intranet page.

Workplace reintegration management

In the countries in which Fresenius operates, laws, health and safety regulations, and collective agreements differ with regard to workplace reintegration, e.g., after a long illness. In general, the longer a sick employee is unable to participate in the work process, the more difficult it will be to reintegrate them. It is therefore important that an employee can return to work after sickness as quickly as possible, if necessary in the form of an adapted job or in a different role.

Within the Group, various regulations are applicable, as the following examples show:

• At locations in Germany, the statutory company integration management system applies. In Germany, employees who were unable to work for more than six consecutive weeks or repeatedly for a total of more than six weeks within a year are entitled to a reintegration procedure. In close cooperation with the person concerned, HR department, local site management and relevant employee representatives to help overcoming an employee’s inability to work, support their return to the workplace, and prevent future incapacity through targeted measures. The aim is to make workplace reintegration flexible and as needs-oriented as possible, thereby ensuring that employees can return to work long-term while promoting employees’ health and performance. To offer a company reintegration program, affected individuals are contacted accordingly and receive written information about the procedure and its intended goals. In the response form, affected individuals can specify the people they would like to participate in the reintegration meeting. Potential further measures resulting from this initial conversation can also involve additional groups and individuals – as agreed upon with the person concerned.

• In Spain, a medical examination of the employees concerned is carried out by the Risk Prevention Service after longer periods of sick leave, to reassess the returning employee’s fitness for the workplace, which supports a quick return-to-work process. Furthermore, subsequent tailored measures to protect an employee’s health and well-being, provided by each respective local occupational health management unit, support the reintegration.

• In Colombia, workplace reintegration after longer periods of sick leave is governed by legal requirements that mandate a structured process to support employees returning to work after incapacity or occupational illness. This process includes an assessment of the employee’s fitness for work and, where necessary, the development of tailored activities such as job readaptation or professional retraining. Continuous follow-up ensures that reintegration is effective and sustainable. These activities, implemented by local occupational health management units in coordination with employers and risk administrators, aim to protect employee health and well‑being and facilitate a smooth return‑to‑work process.

Patient safety

In addition to employee health and safety, patient and user safety at the facilities is also of great importance. For information on patient safety in the context of medical treatment, please refer to the topical standard S4 Consumers and end-users, Health and safety section. In the hospital sector, Fresenius has also implemented various measures to protect patients from hazardous situations outside of medical treatment. Such hazardous situations can be, for example, fires, power outages, or weather-related circumstances, such as ice on parking lots or hospital access ramps in winter. If such situations occur, appropriate emergency and fire protection plans are in place, for example to ensure the evacuation of patients. Hospital staff are prepared for such crisis situations through annual mandatory training. Business continuity plans for crisis situations complement existing safety measures.

Promoting health and well-being

Complementing comprehensive occupational health and safety measures, Fresenius has developed further voluntary country-specific offers that promote employee health, well-being, and healthy lifestyles. These offers are organized on a decentralized basis so that they can be tailored to the needs of employees as precisely as possible. On the one hand, these offers are aimed at promoting and maintaining physical health and include, for example, vaccination programs and preventive medical check-ups by Fresenius’ company doctors. On the other hand, there are contacts, hotlines, and information focusing on mental health issues. In Germany and Spain, Fresenius provides courses on nutrition and physical activity, as well as on emotional management. In addition, employees and their families receive external and anonymous psychological counseling if needed.

Policies related to equal treatment and opportunities for all Connection to material IROs 19, 20, 21, 22, 23

Fresenius promotes international and interdisciplinary cooperation as well as equal opportunity and inclusion throughout the Group within the applicable provisions of the relevant jurisdictions in which the company operates. The diversity of markets and locations is also reflected in the workforce. In Germany alone, Fresenius has approximately 160 nationalities among its employees. The company attaches great importance to equal opportunities for all employees in the workplace as well as in the application, selection, and development procedures. In order to integrate equal opportunities into all processes and workflows and to overcome barriers or unconscious bias, the Operating Companies develop concepts that are adapted to the requirements of their respective business models and regions. In doing so, Fresenius complies with the relevant laws of the respective regions and, above all, observes applicable anti-discrimination regulations. With this approach, Fresenius wants to provide a framework that enables its employees to integrate into a workplace that supports them in pursuing their individual professional ambitions.

Fresenius supports equal opportunities for all and consciously opposes discrimination of any kind. The reasons for discrimination are far-reaching. This has led the Group to include a clear statement in its guidelines that any form of discrimination is rejected. This includes all aspects required by the ESRS S1.24 (b), as outlined in standard ESRS 2 General disclosures. This applies equally to employees, business partners and their workforce, and patients.

Dealings with each other are characterized by mutual respect: open, fair, and appreciative. Fresenius does not tolerate insults, humiliation, or harassment. This applies to both internal and external discrimination in everyday working life. Managers have a special responsibility in this regard and serve as role models. These values and commitment to diversity are set out in the Fresenius Code of Conduct, which is binding for all employees. It forms the foundation of Fresenius’ cooperation and corporate culture.

The elimination of discrimination is both a component of Group-wide compliance programs and a key element of the Human Rights Program.

These concepts are supplemented by suitable controls, process documentation, training concepts, awareness-raising measures, and the use of whistleblower systems. In this way, Fresenius wants to ensure that discrimination, including harassment, is prevented, contained, or combated in its operational business if the company becomes aware of violations, risks, or impacts.

The Impact of insufficient violence prevention or lack of protection against harassment on safety and health is addressed under Further policies related to working conditions: Occupational health and safety.

A key component of reporting is communication on the intranet and social media. These communication formats provide the Management Board with the opportunity to draw specific attention to initiatives for equal treatment and opportunities for all and to strengthen employee awareness of these issues. It is particularly important to include affected employee groups in this communication and to show them that Fresenius takes their interests into account.

In addition, the Group also wants to address potential new employees with its initiatives.

Further information on training formats and development programs can be found in section S1-1 Policies related to own workforce. Details on the Employee Engagement Index can be found in the Metrics section in this topical standard.

Internal and external requirements

Fresenius’ Management Board signed the Diversity Charter. In doing so, the healthcare Group sent a visible signal of support for diversity and inclusion within its own company. The aim of the initiative is to promote the recognition, appreciation, and inclusion of diversity in the world of work in Germany.

At Group level, the requirements resulting from internal guidelines, e.g., the Code of Conduct, or external requirements, e.g. collective agreements, apply to the Operating Companies. Collective agreements and works agreements also stipulate that all employees covered by them are entitled to defined compensation components, including benefits. Due to varying local legislation, these internal guidelines are important frameworks for enabling a tolerant and respectful working environment. In this way, Fresenius wants to ensure that local laws are taken into account and that, as part of own business activities, it is guaranteed that people can work for the company or be supplied with the products without fear of discrimination. Impacts of gender-based pay differences on equality and equal treatment must be avoided.

In addition to internal guidelines, all locations are subject to the respective local regulations and laws – in Germany, for example, the General Equal Treatment Act, the Pay Transparency Act, and the Works Constitution Act. Compliance with these regulations is ensured at local level. The relevant departments are responsible for communicating the requirements through specific training and checking their application through process documentation. In the area of recruitment, for example, incidents of discrimination can be prevented if experts who have previously successfully completed training on recognizing unconscious biases are involved in the processes. Further information on this topic is provided in the Working environment section.

At some locations, Fresenius’ companies are required by national law to draw up equality plans to promote equal opportunities, create pay transparency between men and women, and guarantee non-discrimination in the workplace.

Organization

On the Management Board, the Sustainability Board member is responsible for managing strategic Group-wide projects for equal treatment and opportunities for all. The Management Board members responsible for the Operating Companies are responsible for operational management. The Management of the Operating Companies shape their management approaches and regulate responsibility for equal treatment and opportunities for all, e.g., through an organizational chart. In the Group function Group Human Resources, the Talent & Leadership department is responsible for equal treatment and opportunities. In the Group Human Rights Leadership Team, the HR managers and responsible functions of the Operating Companies coordinate on HR topics on a monthly basis, decide on Group-wide projects and initiatives, and also exchange ideas on anti-discrimination issues.

In order to address existing and potential challenges in connection with equal treatment and opportunities for all in a context-specific manner, responsibilities have also been defined at regional level. Expert functions are responsible for implementing approaches and country-specific regulations. Experts in the various departments develop training courses, communication materials, and programs in coordination with other Group functions.

Working environment

At Fresenius, the international and interdisciplinary work environment leads to intercultural teams coming together to drive improvements in patient care, optimize internal processes, and convince potential applicants of corporate culture. An international and intercultural composition of teams – especially in the corporate functions – can facilitate cooperation. In many central functions, for example, there are employees who are responsible for different regions and are expected to provide the best possible support across different segments internationally.

In order to sustainably promote tolerance and appreciation within these teams in the long-term, it is not only necessary to have a corresponding culture that is exemplified by the management bodies. Employees also receive training and further education on the topic of diversity.

Fresenius aims to increase employees’ awareness of equal treatment and opportunities for all, and value people. In this way, Fresenius creates a space for inclusion. To raise awareness of the issue of unconscious biases, the company offers online training on this topic for employees. This gives the employees the opportunity to learn how to question decisions and recognize unconscious thought patterns, stereotypes, and prejudices.

Fresenius wants to support employees in all phases of life and in particular promote the compatibility of family and career – in the spirit of equality. Therefore, the company offers them a wide range of opportunities for flexible working. The country- and location-specific offer depends on the applicable collective agreements and – if available – equality plans. Further information on flexible working models can be found in this topical standard in the Policies related to working conditions section.

Employee networks

Within the Fresenius Group, various employee groups have been formed. Employee groups are open to all employees regardless of whether they are members of a targeted group. These networks play a key role in supporting the Group’s aspiration to develop a work environment where equal treatment and opportunities for all as well as appreciation go hand in hand. This aim is also reflected in the Diversity Charter.

Employees with disabilities

Fresenius also employs people with impairments, some of which are severe disabilities – such as people who use wheelchairs, as well as those who survived cancer or, for example, live with diabetes, rheumatism, or depression. Collaborations, e.g., with sheltered workshops, also enable people with mental disabilities to work for the company. The Group is committed to the inclusion of these people. The company wants to enable its employees to apply their knowledge and skills as fully as possible. In doing so, the respective local legal requirements must be implemented. As these differ significantly in some cases, management is decentralized and local.

In Germany, elections for representatives of employees with disabilities are held every four years at Fresenius facilities where at least five people with disabilities are employed on a more than temporary basis. All members of the company can stand for election to this office. Fresenius also has corresponding committees in the clinics in Spain.

Fresenius Helios in Germany has concluded an overall inclusion agreement with its representative body for people with severe disabilities. It strengthens the participation of people with (severe) disabilities and employees at risk of disability and promotes equal opportunities. Furthermore, it aims to prevent employees with (severe) disabilities from being discriminated against or socially excluded.

Fresenius Helios in Spain has dedicated programs for the recruitment, integration, and development of employees with disabilities. The company thus complies with the legal requirement in Spain for at least 2% of employees to be people with disabilities. Exceptions are possible and must be explained by the companies concerned before being accepted by the competent authority. Fresenius Helios in Spain has also signed an agreement with the representative foundation Fundación Integralia DKV to promote diversity in the division.

Monitoring process

The effectiveness of the measures addressing equal treatment and opportunities for all is discussed if risks have been identified or incidents have occurred that could have a significant impact on the employees, the operating business, reputation, or value chain of the Group and its Operating Companies.

At Group level, HR data on equal opportunity and inclusion is collected as needed, but at least annually, and communicated to internal stakeholders, e.g. employee representatives or the respective representatives of employees with severe disabilities. In addition, the Operating Companies have supplementary reporting processes, e.g. on a monthly or quarterly basis, to identify deviations from internal targets or objectives. If deviations from applicable provisions occur, the responsible persons initiate a root cause analysis, evaluate the results, and, if necessary, implement corrective or preventive measures to adhere to the respective legal provision in future.

Human Rights Statement and Human Rights Program

In the Human Rights Statement, Fresenius describes its commitment to respecting human rights and the associated environmental aspects in its own operation and in the value chain. Among other things, Fresenius is committed to providing a safe and respectful work environment, paying market-oriented, transparent, and appropriate wages, and promoting equal treatment within its workforce and along the value chain. Further information on the Human Rights Statement and the Human Rights Program can be found in the topical standard S2 Workers in the value chain.

Dialogue with own workforce and employee representatives [S1-2] Processes for engaging with own workforce and workers’ representatives about impacts

In recent years, Fresenius has established various dialogue formats to strengthen communication between management and the employees – both at Group level and in the individual Operating Companies. This allows the Management Board to provide employees with information on important issues personally. In addition, Fresenius promotes its feedback culture and the constructive exchange of ideas. As explained in this topical standard, Fresenius believes that a well established dialogue with employees and employee representatives has a positive impact on good working conditions as well as equal treatment and equal opportunities. In the following, various formats of involving employees, the concept, and, where applicable, their evaluation, are explained. Within the Management Board, the Sustainability Board member is responsible for the design of these formats.

Employee survey

Employees at the level of the corporate functions as well as the global locations have the opportunity to provide feedback and engage openly and directly with the company. Through the annual Group-wide employee survey, Fresenius regularly collects feedback from employees on their working environment. Both positive aspects as well as opportunities to improve are inquired. The aim is to obtain a picture of opinion and sentiment about working at Fresenius based on the survey results. Additionally, standardized questions, e.g. on teamwork, work-life balance, development, and innovation are asked across all Operating Companies. In addition, the Operating Companies can include segment-specific questions.

The results of the survey enable Fresenius to identify potential for improvement at team, division, segment, and Group level. The employee survey and the assessment of the Employee Engagement Index (EEI) are important tools for developing as an employer, attracting new talents, and retaining its employees in the long-term. Employee engagement is also related to relevant HR KPIs such as absenteeism, turnover, productivity, and customer care.

Exchange with employee representatives

Trust and cooperation between management, employees, and employee representatives is well established at Fresenius. It is an integral part of the corporate culture. Open and ongoing dialogue between management and employee representatives, as well as trade unions, is important to Fresenius.

At Group level, the Sustainability Board member is in exchange with the European Works Council (EWC) of Fresenius SE & Co. KGaA. At the regional or local level, the responsible specialist functions conduct the discussions with employee representatives as well as the trade unions.

Existing internal codes and guidelines include the commitment to respect international working and social standards. Fresenius respects the right to freedom of association and collective bargaining. This also includes the right of Fresenius’employees to decide freely whether or not they wish to form an employee representative body or a trade union and / or be represented by such a body, in accordance with the law at the respective place of work. Fresenius is committed to an open and solution-oriented dialogue between employees and their representatives, and the management within the relevant legal and operational frameworks. This commitment is anchored in the Human Rights Statement. For more information, see the topical standard S2 Workers in the value chain.

Dialogue at European level

In European countries, workplace representation bodies are organized according to national law. The Operating Companies have overall responsibility for dealing with local employee representatives and trade unions at country or site level. Discussions with these representatives focus on local and regional circumstances. Together with the employee representatives, Fresenius aims to find tailored solutions to the challenges in the different locations.

Fresenius has reached an agreement with the EWC, establishing a structured dialogue with international trade union associations. On this basis, meetings are held once a year between representatives of the Operating Companies, the employee representatives of the Supervisory Board, the EWC and the international trade union associations. In the reporting year, the meeting took place in November. The exchange was about, reorganization processes and their impacts on employees in the Group, the Sustainability Framework and the implementation of the Human Rights Program.

The EWC represents all Fresenius employees in the EU and the EEA. It is responsible for their participation in cross-border measures, insofar as these have a significant impact on the interests of Fresenius personnel and affect at least two countries within its area of responsibility, such as the relocation or closure of companies or collective redundancies. The management informs and consults with the EWC on the following topics, for example: the structure as well as the economic and financial situation of the Group, its anticipated growth, the employment situation, investments, organizational changes, and the introduction of new work and production processes. The EWC meets regularly once a year, while its Executive Committee convenes three times a year, partially in hybrid form. A meeting of the Executive Committee takes place in other European countries to visit a plant or clinic and to exchange ideas with employee representatives. The European trade union federations IndustriALL and the European Federation of Public Service Unions (EPSU) attend the meetings at the invitation of the EWC.

The focus of the EWC in the past fiscal year was on the transformation process of #FutureFresenius and projects in the Group’s Operating Companies for reorganization, e.g. measures in connection with the Vision 2026 strategy, the cross-segment company program for Fresenius Helios in Germany and in Spain, the digital transformation, the Group-wide cost and efficiency program, and aspects of human rights related priority areas, sustainability, and corporate social responsibility (CSR). The EWC also discussed the global engagement survey as well as international projects, such as those in logistics or the supply chain. At its annual meeting, the EWC entered into dialogue with the Management of Fresenius Helios as well as Quirónsalud and Fresenius Health Services (FHS). The EWC has formed a working group for the area of sustainability and CSR.

Regular training courses are held for the members of the EWC; in the reporting year, for example, on artificial intelligence (AI) and its future impact the role of employee representatives. Through company visits, the members of the EWC regularly gain an impression of the various locations and interact with employer and employee representatives. In the reporting year, the EWC visited the Helios clinic Dr. Horst Schmidt Kliniken in Wiesbaden. The Executive Committee was in Spain and visited the Hospital Universitari General de Catalunya, where it was in discussion with the labor director and the works council.

In the reporting year 2025, the EWC elected six employee representatives to the Supervisory Board of Fresenius SE & Co. KGaA, including one representative of the trade unions.

Further dialogue and feedback formats

To support dialogue between management and employees, video messages from the CEO on relevant topics, for example, are published on the global intranet to encourage lively discussions. The other board members also communicate on new developments in their departments. Also, regular town halls are held in which members of the Management Board report on relevant developments in the Group. In addition, digital formats and on-site meetings foster the exchange between the CEO and top executives. Various dialogue formats are used within the Group. Fresenius offers a standardized feedback discussion between supervisors and employees on performance, competencies, and development potential for employees every year. It serves to strengthen the exchange on the individual development planning and promotion of the employees. In addition, it is intended to strengthen employee loyalty and reduce staff turnover. Furthermore, non-tariff employees agree their annual targets with their superiors. The superiors then evaluate the extent to which the targets have been achieved.

The various feedback and dialogue formats are designed to ensure that the effectiveness of the collaboration between the company and its own employees is visible.

As explained in this topical standard, Equal treatment and opportunities for all section, there are groups of employees for whom additional representation has been established. Their perspectives are incorporated into the communication and are made accessible locally to those affected at a location through meetings held at least once a year, e.g., as part of a general meeting.

Reporting systems and impact management procedures [S1-3] Processes to remediate negative impacts and channels for own workforce to raise concerns

Reporting systems

In addition to the dialogue formats described in section S1-2 Dialogue with own workforce and employee representatives, Fresenius offers its employees various reporting systems for reporting violations of regulations with reference to employees, to the principles of the Fresenius Code of Conduct, voluntary human rights commitment, and other possible misconduct. Employees and external stakeholders, as well as external labor, can report information online and in various languages – anonymously, if necessary. The reporting system includes the option of confidentially submitting complaints to the responsible HR managers. Furthermore, as previously described, there is the possibility of informing the local employee representative body (works council), as far as they are established. In the reporting year, Fresenius expanded its existing reporting system to include e.g., complaints reported by HR business partners with anonymized and standardized documentation. These are now also included in the total number of reported complaints.

In addition, employees have the option of confiding in an ombudsperson in the event of conflicts or misconduct. At Fresenius Helios in Spain, incidents involving sexual and gender-based harassment can be recorded via a dedicated complaint protocol.

There are no Group-wide guidelines in the HR department on how procedures are to be carried out in order to implement remedial measures. Fresenius considers that such a framework must be very broadly defined in order to be able to reflect the respective individual criteria of the report. The basic principle for all procedures is to always ensure that all reports are followed up, if they indicate a possible significant negative impact on people in the workforce or circumstances that have contributed to such an impact. An assessment and subsequent evaluation of effectiveness is also carried out on an individual basis and is not conducted at segment or Group level. For those cases assessed by the Compliance organization, provisions are defined, also for human rights incidents, as explained in topical standard G1.

Fresenius follows up on all reports quickly and carefully in order to put a stop to violations promptly and take measures – and to permanently eliminate abuses for the future. By establishing the standardized documentation of complaints described above, Fresenius aims to maintain a high level of awareness for a culture of trust and openness in the future. Further information on the processing of reports can be found in the topical standard G1 Business conduct, Whistleblower reporting system section and on human rights incidents in the topical standard S2 Workers in the value chain, section S2-3 Due diligence procedures and reporting channels.

Reporting systems for occupational safety

Fresenius uses notification systems or reporting processes for accidents at work to document and analyze all work-related accidents and incidents reported to the Group for own employees and partly for temporary workers or other third parties working on the Groups’ premises. Local management – at Fresenius Kabi, global OHS management – assesses these incident investigation reports. It decides whether technical improvements, additional working equipment, instructions, or further training are required to avoid reoccurrence in future and to improve occupational health and safety for employees. Relevant first aid cases and unsafe situations, including near misses, are also documented. These are taken into account in the occupational health and safety analysis.

Work-related accidents are reported immediately in the respective systems as soon as they are known of and central functions are subsequently informed about accidents. Furthermore, Fresenius calculates the Lost Time Injury Frequency Rate (LTIFR) for internal reporting.

In accordance with legal requirements, all Operational Companies document work-related fatal accidents in their respective internal risk management systems. They use locally defined reporting channels to inform the safety specialists directly responsible and, depending on process design and severity of the accident, regional or global OHS management functions as well. HR departments also immediately report serious and fatal accidents to the competent authorities and accident insurance organizations. Furthermore, as soon as work-related accidents with fatalities occur, Fresenius immediately reviews existing work processes and initiates a risk assessment. All reported accidents are generally documented and assessed.

In the hospital setting, the Critical Incident Reporting System (CIRS), which is described in topical standard S4 Consumers and end-users, Health and safety section, also applies for the employees. Further information is provided in the referenced topical standard.

Group-wide, the reporting systems enable the reporting of violations of internal guidelines on working conditions or occupational health and safety that could have a material impact on the company’s financial position or reputation.

Information on communication and accessibility of the whistleblower channels as well as clear commitment to protecting whistleblowers from retaliation can be found in the topical standard G1 Business conduct.

Actions [S1-4] Taking action on material impacts on own workforce, and approaches to managing material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions

In the reporting year, the Group HR function, together with the Operating Companies, initiated activities aimed at addressing the identified IROs and enhancing existing management concepts. In the reporting year, a safety reporting system was initiated, which will serve as the foundation for a Group-wide Safety Compliance Management System (Safety CMS) in the long-term. as a Group-wide measure in the area of health and safety. In addition, the annual employee survey was conducted, from which the operating companies derive their own activities. No further central requirements for measures were drawn up, and therefore no further Group-wide measures were developed. The focus of additional activities was on communication and exchange formats at various levels to promote cross-functional information sharing and to further integrate Fresenius’ principles into day-to-day operations.

Safety Compliance Management System

Fresenius wants to improve the health and safety of its own employees and other people, such as patients, by introducing a Safety CMS. It is designed at Group, segment, and site level and is intended to cover other safety topics in addition to fire protection risks.

The elements of the Safety CMS are based on the elements of a compliance management system in accordance with the audit standard for compliance management systems of the Institute of Public Auditors in Germany (IDW PS 980) and are documented in a Group-wide safety guideline. It is based on the following eight core areas:

• Objective

• Culture

• Risk assessment

• Program

• Organization

• Process

• Reporting

• Monitoring

In 2025, the implementation of the Safety CMS was initiated, first with a focus on fire protection aspects. In the year under review, Fresenius Helios realigned its central fire protection function in Germany, filled key positions and anchored the corresponding responsibilities in binding standard operating procedures and guidelines. At the same time, a Group-wide safety network was set up to promote professional exchange and contribute to the harmonization of standards. In addition, a central expert function has been established at Fresenius level to coordinate Group-wide safety reporting.

For the introduction of the Safety CMS, Fresenius sought external advice in the 2024 fiscal year and implemented initial measures for the organizational structure; the costs for this amounted to approximately €1 million. The activities conducted in 2025 were covered by internal resources and are not material. Possible necessary investments, e.g., in technical equipment, are not budgeted separately anymore. The associated amounts (OpEx or CapEx) are part of the future general expenses for maintenance or the planned investments in technical infrastructure.

Employee satisfaction

By quantitatively and qualitatively evaluating the results of the employee survey, Fresenius gains insights into the issues that are causing dissatisfaction among employees, for example. However, the analysis also helps to see the positive impact Fresenius has on its employees. Based on this, the Operational Companies initiated or implemented their own measures in the reporting year.

To improve the EEI, further actions have been implemented within the Group: in 2025, the results of the employee survey has been included in the target agreement for approximately 1000 managers at Fresenius Kabi with a weighting of 20% (2024: 10%), as well as for managers at Fresenius Helios in Germany with a weighting of 15% and for Fresenius Helios in Spain of 10%. Each manager is also called upon to define and discuss measures with their team based on the results of the employee survey. In addition, the Operating Companies conducted global and regional workshops to address the findings and focus topics identified in the EEI results. The workshops also aimed to share best practices within the HR community. These actions were not managed centrally and are not part of a Groupwide coordinated action plan to which significant operating expenses (OpEx) and capital expenditures (CapEx) are allocated. Success will be measured by the individual results of the teams and functions and their overall contribution to the EEI next year. The process and the evaluation to derive this KPI is supported by an external provider. A Group-wide initiative in 2025 was derived from the survey results on the topic of continuing education: the introduction of the LinkedIn Learning learning platform for employees, which was launched in November 2025. Fresenius Helios is scheduled to launch access to the platform in 2026 in Germany. The approach is described in section S1-1 Policies related to own workforce in this topical standard.

Effectiveness of actions

There is a high degree of co-determination at Fresenius, both through employee representative bodies and through close cooperation with labor unions at the national and international level. The goal is to avoid tensions between the company and the employee representatives by actively shaping co-determination. An intensive exchange with the employee representatives is also taking place as part of the ongoing transformation.

The company’s own business practices should not have or contribute to any material negative impact on its workforce. As described in this topical standard, various procedures, such as status analyses, can be used to derive necessary measures. The actions taken during the reporting year are also intended to help identify potential deviations from this ambition, for example by evaluating the results of the Employee Engagement Index or by implementing additional processes to record internal incidents.

Fresenius reviews the effectiveness of measures or initiatives, e.g. by measuring employee satisfaction.

The actions described also serve to achieve the target for the EEI, among other things. In addition, they also help to address impacts, risks, and opportunities presented. In 2026, no action item is currently planned that requires significant operational expenditure (OpEx) or capital expenditure (CapEx). If that changes, necessary resources are defined on a case-by-case basis.

Goals and ambitions [S1-5] Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

The Fresenius Group pursues segment-specific ambitions to improve the working conditions of its own employees. In doing so, the Group aims to consolidate the position of the Operating Companies that focus on innovation in the healthcare sector. At the same time, Fresenius wants to take account of the importance of the services they provide for society and attract new employees who contribute to the company’s success through their willingness to perform, their expertise, their experience, and their willingness to work together as a team.

Employee engagement

In the reporting year, another employee survey was conducted. As a Group-wide goal, Fresenius has integrated the EEI as an indicator in the short-term variable compensation of the Management Board. A target is set annually. The stated goal for 2025 was to achieve an EEI of at least 4.33 for the Group. This value falls within a range of 1–6, with 6 being the highest. Progress is measured against the previous year’s figures. Fresenius does not measure the increase, but whether the target has been achieved, exceeded, or fallen short of. Once the survey is completed, a Group-wide Engagement Index is created from the three globally collected Employee Engagement questions. The index is the weighted average of respective engagement index derived from the Operating Companies’entities included in the survey. The evaluation at the end of 2025 revealed an engagement index of 4.14¹ (2024: 4.02¹) within the range of 1 (strongly disagree) to 6 (strongly agree). Thus, Fresenius did not achieve the target under the short-term variable Executive Board compensation – an employee engagement index of at least 4.33.

The Supervisory Board of Fresenius Management SE, responsible for Management Board compensation, decides on the threshold for achieving the compensation targets. The decision is preceded by a discussion of the proposed target values in the Personnel Committee. The target value was developed by the former HR Steering Committee and presented to the Personnel Committee of the Supervisory Board of Fresenius Management SE. The target value of 4.33 was assumed in 2022 as realistic. It was based on the results at the time, which still included Fresenius Medical Care, as well as comparative values of global pharmaceutical companies. The proposal for setting the target value is made at the management level with the involvement of the responsible HR functions. The measures that are defined during the year to achieve the target are communicated annually in the Annual Report and during the year, as well as on the intranet and in the Operating Companies as needed. The compensation target is set by the Supervisory Board; employees or employee representatives are not involved in this process.

In the reporting year, all active employees, for the first time in accordance with the ESRS definition of workforce, were included in the survey as of the reporting date June 30, 2025, and Group-wide exceptions (e.g. employees on long-term absence) were defined. In addition, a uniform survey period was set and a common provider was selected to conduct the survey for all Operating Companies. In this way, the Group aims to achieve the highest possible comparability between Operating Companies.

¹ The Employee Engagement Index (EEI) (Fresenius Group) as part of the short-term variable remuneration (STI) of the Management Board is assured with reasonable assurance, as explained on pages 431 in the assurance report of the independent German public auditor.

Occupational health and safety – LTIFR

As part of the occupational health and safety activities, Fresenius reports a Group-wide Lost Time Injury Frequency Rate (LTIFR¹). The fundamental ambition is to avoid all accidents. Fresenius Kabi aims to improve this metric on an annual basis. For the reporting year, no concrete target was set. In 2024, the metric was 2.2. Fresenius Helios in Germany and in Spain monitors and assesses the development of the LTIFR, but has so far refrained from setting a target.

Fresenius continuously monitors the progress made in achieving the goals and evaluates developments from year to year.

The measurement of improvement against the previous year’s figure is based on the knowledge gained throughout the established internal reporting processes and the evaluation of the individual documented incidents.

The LTIFR is discussed both at Fresenius Kabi and at the employee representative level. Serious accidents are communicated and discussed internally.

At Fresenius Kabi, occupational accidents are categorized according to their severity and reported to the responsible central OHS function and other relevant functions accordingly. This is how, for example, work-related accidents that result in at least one day of absence are reported to the central OHS function within two working days; other, less severe accidents without absence or with less than one day of absence are reported on a quarterly basis. Fresenius Kabi investigates all accidents. Those that lead to at least one calendar day of absence from work are further investigated and categorized by the central OHS function in corresponding reports. Fresenius calculates the LTIFR from data collected on occupational accidents and their severity and uses it as an indicator to measure performance. The lost time injury severity rate (LTISR²) is also considered in the analysis. Occupational health and safety reports are submitted to the Management and other relevant functions of Fresenius Kabi on a quarterly basis. Therefore, the LTIFR of Fresenius Kabi is an established key figure that is controlled, monitored, and collected by the central OHS function. If changes in the design of the management concept or findings from the ongoing assessment require a procedure for involving labor or employee representatives, this will be implemented in accordance with applicable legal and internal requirements. This was the case in 2025. The previous target of < 3.0 was adjusted to reflect the maturity of the existing processes and controls. The new ambition is to achieve annually an improvement compared to the respective previous year´s figure. For 2025 this means that the rate shall be better than the 2024 value of 2.2.

Targets in the area of occupational health and safety can be defined between the specialist functions, the HR managers and the employee representatives, as required. Communication to the Management Board will take place as described in ESRS 2. The same applies to the information to the Supervisory Board. Fresenius Kabi and Fresenius Helios in Spain already use LTIFR to derive adequate activities. Fresenius Helios in Germany collects LTIFR annually as part of defined key performance indicators that measure progress in the areas of environment, social, and governance (ESG KPI), but it is not applied for control purposes, e.g. in the context of compensation. The ambition is to keep the respective LTIFR as low as possible, depending on the maturity of the implemented processes and the specific working environment. Fresenius Kabi achieved its targeted improvement in the reporting year: the rate was 1.8 (2024: 2.2).

¹ LTIFR: Number of work-related accidents (company-specific definition) resulting in at least one day of absence from work in relation to 1,000,000 working hours.

² LTISR: Number of days absent due to work-related accidents in relation to 1,000,000 working hours.

Equal treatment and opportunities for all

The Management Board welcomes the efforts within the Operating Companies for more equal treatment and opportunities for all. It is Fresenius’ ambition to continuously develop the corporate culture and attract, promote, and retain talent. Different backgrounds, experiences, perspectives, and qualifications can lead to better decision-making and outcomes and drive progress of an organization. In the Operating Companies, the company wants to improve perception of equal treatment and opportunities for all, e.g., with training for employees and management. As part of the corporate culture, projects to strengthen these aspects are being developed and implemented.

By setting targets in line with applicable laws and reporting on them transparently, Fresenius aims to drive forward equal treatment and opportunities for all in leadership positions. A clear goal also directs the focus to areas where action is needed. This enables the Group to implement effective measures.

Fresenius SE & Co. KGaA had developed the targets for the first and second management levels below the Management Board in accordance with the legal requirements in Germany: By 2025, the proportion of women there should be at least 30%. Fresenius achieved a proportion of women at the first management level of 26.3% (2024: 26.3%) and at the second management level of 20.6% (2024: 27.6%). The metrics were collected annually and communicated to the Management Board.

The targets set for Fresenius SE & Co. KGaA were therefore not achieved for the first and second management levels.

The ongoing transformation of Fresenius is also leading to changes in the requirement profiles of employees and managers. These require, for example, specific skills that are in high demand in the market. Despite Fresenius’ efforts to form diverse teams, qualifications and skills related to the respective job requirements are the decisive criteria in personnel decisions. Due to the small number of positions considered at the two levels below the Management Board in Fresenius SE & Co. KGaA, individual personnel changes have a significant impact on target ratios.

Fresenius has adjusted the target definition of the management levels to include all employees in management positions, regardless of their title, at the top management levels, and will in future take into account the group of employees included in the CSRD metric on the Group-wide gender distribution at the top management level. The target was developed within the Group HR function and submitted to the Board member Sustainability for approval. There was no involvement of employees or employee representatives. For the proportion of women in accordance with the legal requirements in Germany, the definition therefore includes all employees in management positions at the two levels below the Management Board who have an employment contract with Fresenius SE & Co. KGaA. Fresenius continues to aim for a target of 30% women at both levels. The Board resolution provides for the new definition and the target to be valid from January 1, 2026 with a target period until December 31, 2030.

In October 2025, the corresponding proposals were submitted to the Management Board. Based on the employee data in the software used by Fresenius to control HR data and processes, the function designated within the Group Human Resources function calculates the achieved values based on the criteria defined by the Management Board. From these, it can be deduced whether the goal has been achieved or exceeded.

The company aims to ensure that Fresenius employees are evaluated, promoted and developed according to their performance and competence through equal treatment and equal opportunities for all.

Metrics

Characteristics of the employees [S1-6] Characteristics of the undertaking’s employees

At the end of fiscal year 2025, the number of employees (headcount) in the Group amounted to 178,583 (2024: 179,884).

For metrics calculated based on the number of employees (total headcount), each employee is counted as one person, regardless of whether they hold a full-time or part-time contract. Employees are classified into three categories of employment.

In 2025, Germany and Spain will continue to be the two countries with a significant number of employees. Other countries each have less than 10% of employees, as is the case in Colombia, the Dominican Republic, and China.

The number of employees (headcount) reported in the Group financial statements for the 2025 reporting years differs only slightly from the disclosures in the Sustainability Statement. The definitions are being gradually harmonized.

Fresenius uses the following four gender categories for the gender breakdown of its employees: female, male, other, and undisclosed. The breakdown by country only includes countries in which Fresenius has 50 or more employees representing at least 10% of its total number of employees.

At Fresenius Helios, the proportion of temporary employees is 17.2% (2024: 16.8%). This is due to the need to compensate for personnel shortages in nursing or among doctors through short-term employment. Often, Fresenius Helios in Spain employs the same persons on a recurring basis.

Employees are categorized into three employment types: permanent, temporary, and non-guaranteed hours. Permanent employees have employment contracts for full-time or part-time work without a predetermined end date. Temporary employees work under time-limited contracts that expire either after a specific period or upon completing a defined task. Non-guaranteed-hours employees are engaged without a commitment to a minimum or fixed number of working hours.

Employees by region

Fresenius also reports specific metrics by region. The regional groups defined are Germany, Europe (excl. Germany), North America, Asia Pacific, Latin America, and Africa.

Efforts in employee development and retention should also lead to stable own workforce in the long-term. The turnover rate in the 2025 reporting year was 25.8% (2024: 25.3%). This includes a high number of short-term, recurring employment contracts in Spain. Adjusted for this influencing factor, the turnover rate was 23.7% (2024: 24.2%). In 2025, the proportion of employees who voluntarily left the company was 9.6% (2024: 9.8%). This metric was influenced significantly by the transformation processes at Group and Operating Company level, while the continuing challenging working conditions in the healthcare sector negatively impacted this development.

The employee turnover is defined as the total number of employees (headcount) who have left Fresenius during the reporting period and the rate of employee turnover in the reporting period due to dismissal, voluntary leave, termination agreement, end of contract, retirement, death, or other reasons. It is calculated by dividing the total number of terminations (headcount) during the reporting period by the total number of employees at year-end, multiplied by 100. The adjusted turnover rate does not take into account the recurring employment relationships that are common in Spain and thus reduces the overall number of terminations based on end of contract. When classifying the various categories, local conditions must also be taken into account, e.g. different employment contract regulations or termination rules.

Characteristics of non-employees [S1-7] Characteristics of non-employees in the undertaking’s own workforce

In 2025, 5,254 people (2024: 5,234) worked for Fresenius as non-employees¹. In relation to the total number of employees, this figure is around 3% in 2025 (2024: 3%). The previous year’s figure was adjusted by 100 persons due to a subsequent recategorization. Compared to 2024, no further differentiation will be made between the categories of self-employed persons or persons employed by third parties. This is the objective for the comprehensive reporting that is planned for the future. The figure includes in the operating company Fresenius Helios only the German entities. The KPI is voluntarily reported by Fresenius in 2025, as this is a phase-in KPI.

Non-employees in the workforce are self-employed people and people provided by undertakings primarily engaged in what are referred to as employment activities, i.e. people who do not have a direct employment contract with Fresenius, but do work under the direction of Fresenius. Non-employees are counted based on the headcount as of December 31, regardless of whether they are on a full- or part-time contract. If people working for Fresenius are not directly employed by Fresenius and under the direction of a third party, they are not reported as non-employees. They are reported as value chain workers, e.g. canteen workers or office staff reporting directly to a third-party vendor instead of Fresenius.

¹ Excluding the entities of Quirónsalud (part of the Operating Company Fresenius Helios).

Collective bargaining coverage and social dialogue [S1-8] Collective bargaining coverage and social dialogue

Collective agreements and respective provisions set binding standards for all important working conditions. This includes wages and salaries, but also training allowances, weekly working hours, holiday entitlement, notice periods or, for example, variable compensation components, i.e. special payments such as holiday and Christmas bonuses or allowances for shift work at weekends.

In some European countries, Fresenius is subject to industry-related collective agreements, e.g., in France, which are binding by law due to the industry to which Fresenius is affiliated. Where this is not the case, country-specific collective bargaining agreements can be negotiated with local trade unions or comparable social partners. Employees are informed by trade unions (collective bargaining partners) or employee representatives about tariff agreements, tariff negotiations, and their results. This is regulated differently in the individual countries.

At Fresenius, different collective bargaining agreements apply due to the different industries in which the company operates. Fresenius Helios hospitals in Germany are subject to a Helios Group collective agreement, the collective agreement for public service (TVöD), or company-specific collective agreements. In addition, for historical reasons, there are various provisions that are continued individually in the respective working contracts. Those are due to past hospital acquisitions and company incorporations, e.g. for functional groups such as catering, logistics or cleaning. In Germany alone, numerous other individual collective bargaining provisions must therefore be taken into account in addition to the group collective bargaining agreements.

At Fresenius Helios in Germany, there are regular compensation negotiations within the framework of collective agreements that generally take place every two years. The locations in Germany are subject to the regulations of the applicable working time legislation, which in some cases provides for opening clauses for supplementary tariff regulations. The Works Constitution Act, which grants the works councils co-determination rights and control, also has a regulatory effect. The framework with regard to working hours for the individual companies is regularly agreed by the respective company parties on-site. In Germany, the majority of workers are represented by the trade union ver.di. If local strikes occur in the context of collective bargaining negotiations, contingency plans are implemented to ensure that hospital operations can continue as smoothly as possible – also to fulfill the legally mandated service provision. Further, the IGBCE (Industriegewerkschaft Bergbau, Chemie, Energie) is the sector trade union for mining, the chemical industry, and the energy sector. Fresenius has concluded a collective bargaining agreement for defined entities with this union in Germany. An update was signed in 2024 and is valid until 2026.

Employees in Spanish clinics are covered by legally binding tariff agreements. Further, the trade unions Comisiones Obreras, Union General de Trabajadoras y Trabajadores (UGT), and the Sindicato de Enfermeria (SATSE) care workers’ union are predominantly represented in the works councils.

Fresenius Corporate and Fresenius Kabi are subject to the collective agreements of the chemical industry and the plastics processing industry (KVI). These are negotiated between the IGBCE and the Bundesarbeitgeberverband Chemie (BAVC). In addition, trade union commitment is to be rewarded in future through paid time off. The KVI has reached a new collective agreement in the first quarter of 2025, applicable for the German federal states Hesse and Bavaria.

In 2025, 74.4% of the global employees were covered by a collective bargaining agreement.

The collaboration with unions and works councils in various countries globally is explained in section S1-2 Dialogue with own workforce and employee representatives.

In the 2025 reporting year, 81.5% (2024: 81.2%) of the employees in Germany and 100.0% (2024: 100.0%) of the employees in Spain were covered by a collective agreement. Furthermore, employee representation coverage for employees in Germany was 85.7% (2024: 82.7%) and 97.1% (2024: 98.5%) for employees in Spain.

Fresenius discloses the percentage of total employees in the European Economic Area (EEA) that are covered by collective bargaining agreements or provisions defined by CSRD Annex II for each significant EEA country of Fresenius. Significant EEA countries are those where at least 50 people (headcount) are employed who make up at least 10% of the total number of employees of Fresenius. Fresenius discloses its percentage of employees outside the EEA covered by collective bargaining agreements, based on defined regions that are not inside the EEA. The percentage of employees covered by workers’ representatives, defined by CSRD Annex II, is reported for each significant EEA country of Fresenius.

Non-tariff employment contracts can consider the provisions of applicable collective agreement but at least local regulations. Further, depending on the function, additional agreements can be part of the employment contract. For executives, regulations are agreed in the employment contract. Salary transparency in the different countries is granted according to legal requirements and tariff contracts.

If non-employees are covered by collective bargaining agreements, it must be ensured locally that the labor and employment conditions are aligned with these frameworks, provided that they are not already covered by valid global internal guidelines, e.g., the Human Rights Statement.

The EWC of Fresenius SE & Co. KGaA comprised 18 employee representatives from 9 countries as of December 31, 2025. These individuals come from the European Union (EU) member states in which Fresenius employs personnel. In total, the Fresenius Group employs 144,733 (2024: 144,836) people in Europe, which corresponds to 81.0% (2024: 80.5%) of the total number of employees. Of the employees in Europe, Germany alone accounts for 59.8% (2024: 59.4%).

Diversity metrics [S1-9] Diversity metrics

In the reporting year, the proportion of female employees in the Fresenius Group was 67.5% (2024: 67.4%). The proportion of females in services or care is traditionally higher than in the area of production. This is reflected in the proportion of female employees in the Operating Companies: Fresenius Helios has the highest proportion of female employees within the Group, with 74.3% (2024: 74.4%).

The decline in the total number of management positions at levels 1 and 2 is mainly due to comprehensive organizational changes. These include, in particular, the exit from Fresenius Vamed and other structural adjustments made as part of the strategic realignment. For the calculation of the gender distribution at the top management level, Fresenius defines its employees in top management as having the day-to-day tasks of managing the organization and being part of level 1 or level 2 below the Management Board. This includes only persons who actually hold a management position, thus secretarial positions or assistantships, for example, are not counted. Managerial activities contain at least one of the following criteria: leadership responsibility and / or budget responsibility. For the distribution of employees by age group, the number of employees (headcount) under 30 years old, between 30 and 50 years old, and over 50 years old are counted.

The majority (52.5%) of employees are between 30 and 50 years of age. Fresenius aims to maintain a well-balanced age structure within the Group. The distribution again reflects the demand for a high proportion of skilled and experienced employees in the Operating Companies.

At the end of the reporting year, the majority of employees were employed in Europe. Fresenius illustrates the diversity of its employees based on nationalities. The Group does not collect employee data split by ethnicity. The following data is based on about 78%¹ of global employees. Fresenius’ employees come from approximately 160 different nations. About 53% of them have German citizenship, followed by Spanish citizenship (28%).

¹ Excluding employees from Fresenius Kabi.

Adequate wages [S1-10] Adequate wages

Global working conditions are defined on the basis of guidelines and regulations at Group level. All local compensation practices must comply with applicable minimum wage laws and regulations in the respective jurisdictions. Local HR teams are responsible for ensuring compliance through regular reviews and audits, especially in volatile market environments. The Global HR organization regularly monitors compliance using data from the global HR System of Record. Any identified risks or instances of non-compliance must be immediately escalated to the Global HR organization for resolution and oversight, following the established escalation protocols.

In order to prevent the potential risk of payment below the country-specific statutory minimum wage in the future, local HR is asked to review the local salary levels against the local statutory minimum wage twice a year in countries with high inflation dynamics (hyperinflation).

Fresenius indicates whether employees are adequately compensated based on the applicable national minimum wage. As in the previous year, all employees will receive appropriate compensation. Excluded from this information are interns, trainees, apprentices, FSJ students (voluntary social service), BufDis (federal voluntary service), clinical trainees, medical students in their practical year, students, pharmacists in training, and fellowships. Fresenius always refers to the applicable minimum wage. In countries within the EEA where there is no minimum wage, either 60% of the national median wage or 50% of the gross average wage is used. In this analysis, the company always uses the higher value. In countries outside the EEA where there is no minimum wage, an internationally recognized value for living wages is used. Fresenius obtains the comparative data from a global salary database, which provides the respective minimum wages per region (e.g. federal state).

Employees with disabilities [S1-12] Persons with disabilities

Fresenius discloses the percentage and headcount of its employees with disabilities. The number of people with disabilities in the Group is surveyed globally in those countries in which this survey is legally permissible. Exceptions are, for example, countries that do not differentiate between people with and without disabilities in employment. A disability is an individual impairment of a person with regard to their physical function, mental ability, or mental health with a high probability of deviating from the condition typical for the person’s age for longer than six months. It limits a person’s movements, senses, or activities. Fresenius accounts for different legal definitions of persons with disabilities.

Training and skills development metrics [S1-13] Training and skills development metrics

In 2024, Fresenius set itself the target of increasing the average training rate by 20% by 2030 as part of its sustainability ambition. Supporting activities to achieve this have been taken since the 2025 reporting year, as described in the section Actions in this topical standard. In the year under review, the average number of training hours was 19.3 (2024: 17.5). The change is due, among other things, to new hires who have a correspondingly higher training intensity, the frequency of mandatory training courses in production (> 1 year) and a reduction in the proportion of estimation thanks to improved data collection processes.

Fresenius reports the average training hours per employee by gender. This is defined by the hours spent on training and skills-development-related activities that have been offered to and completed by employees, within the context of continuous professional growth, to upgrade employees’ skills as well as knowledge and facilitate continued employability. They may include various methods, such as on-site and online training, internal and external training courses, as long as they are paid for by the employer, and internal congresses. Irrespective of how long a training session actually lasts or how much time the employee requires for it, Fresenius uses the time specified in the training plan or curriculum for the calculation. If training hours are not systematically recorded, they are added to the recorded hours as an estimate based on the gender distribution of the recorded hours. This relates to Fresenius Helios in Germany and comprises about 14% of training hours. In the case of training courses that take place over the turn of the year, the end of the training course is used for the allocation of the training course and the training course is therefore only counted for this year. For the calculation, for example, of average female training hours, the total training hours of female employees in the reporting period are divided by the total headcount of female employees.

In addition, Fresenius’ employees took part in a range of training programs during the reporting year. Employees at Fresenius Kabi receive not only mandatory trainings conducted by quality experts but also targeted training on communication and social skills. This applies also to the following employee groups: operation / manufacturing, quality control, quality assurance, maintenance / technical support, and warehouse.

Training priorities of Fresenius Helios in Germany included simulation and incident training for anesthesia, intensive care, obstetrics, emergency rooms, and pediatrics. Fresenius Helios’ training activities in Spain included the introduction of a healthcare management program for all middle managers, a multidisciplinary program on obesity, new clinical sessions on neurology, and specific programs to improve the patient experience in emergency and hospital environments.

All certified sites conduct occupational health and safety and environmental and energy management training. Further training supplements this and serves to support the introduction, further development, and improvement of the corresponding management systems and measures.

Employees who do not have their own computer or laptop, or who do not have a quiet work environment, can take the training courses they need at specially set up learning locations. The platforms enable documentation of participation in training measures and success checks, for example through final tests.

Trainees and training ratio for Germany [MDR-M] S1-Company-specific

In the reporting year, the number of trainees in Germany, including dual students, amounted to 7,074 (2024: 6,798). The trainee ratio was 8.2% (2024: 7.9%).

Health and safety metrics [S1-14] Health and safety metrics

Fresenius’ own workforce is covered by the company’s health and safety management system based on legal requirements and / or recognized standards or guidelines.

Work-related accidents

The LTIFR of Fresenius Kabi is 1.8 (2024: 2.2) in the reporting year, due to a lower number of minor lost-time cases compared to the previous year. In 2025, slip, trip, and fall accidents and cuts occurred most frequently. The improvement in the LTIFR is partly due to the expansion of OHS training and the optimized processing of accidents.

In the reporting year 2025, no work-related fatalities occurred among employees of Fresenius that were attributable to misconduct or inadequate occupational health and safety. In one case, there was a fatality during working hours, which is categorized as an accident according to local legal regulations. The fatality was not due to misconduct or inadequate occupational health and safety.

Other work-related accidents and incidents

Fresenius measures the number and rate of work-related accidents per one million hours worked. Group-wide, this rate is 17.0. In 2025, the definition of the metric was adjusted due to a more mature reporting process. The previous year figure is therefore not comparable.¹ The previous year’s figure was not restated.

The coverage of employees by the health and safety management system based on legal requirements and / or recognized standards or guidelines is indicated by headcount. Fresenius discloses the number of fatalities of employees as a result of work-related injuries. Incidents occurring at work that are not connected with the work itself are not subject to this. The company also includes injuries and ill health occurring while traveling for work purposes, working from home, or due to mental illness if the cause of the injury or ill health is work-related.

The number of fatalities of value chain workers refers to work-related deaths of value chain workers occurring on Fresenius sites. Work-related injuries and ill health arise from workplace hazards, excluding incidents like heart attacks unrelated to work. Such injuries or illnesses are defined by severe outcomes, including death, work absence, job restrictions, medical treatment beyond first aid, or significant health diagnoses by healthcare professionals. A value chain worker is any individual performing work within Fresenius’ upstream and downstream operations, regardless of their contractual relationship, who can be materially impacted by the company’s activities. This encompasses workers on Fresenius sites, those in supply chain operations, distribution, joint ventures, and other related business activities. Thus, the value chain includes all workers who are not in the scope of the company’s own workforce.

Work-related accidents of employees are incidents leading to employee injuries, with fatalities included in the calculation of recordable work-related injury rates. Work-related travel injuries occur when employees are engaged in employer-related activities, including customer interactions or employer-managed transportation. Home-based work injuries are considered work-related when directly connected to job performance. Hour calculations are based either on actual employee work hours or, where no direct collection is possible, on an estimate based on the degree of employment and the applicable standard working hours. This concerns Fresenius Helios in Spain as well as parts of Fresenius Kabi. At Fresenius Kabi, accidents are recorded exclusively in accordance with the LTIFR definition (with downtime). For 2025, commuting accidents in selected countries will also be reported, excluding some cases prescribed by law. The total number of hours includes both current and departed employees during the reporting period. As this metric is a phase-in KPI, Fresenius excludes initially the category ill-health.

As reported in this topical standard under S1-1 Further policies related to working conditions: occupational health and safety, internal and external audits are carried out to verify the management approaches to occupational health and safety. In 2025, Fresenius conducted internal reviews to verify compliance with applicable requirements, consistently analyze existing procedures, validate processes, and effectively optimize occupational health and safety management. The number of health and safety audits depends on the size of the individual sites and the range of activities carried out there. Further certification audits were performed by external organizations.

¹ This information is based on ESRS 2 BP-2.13a-c, which is based on ESRS 1 Section 7.4, as specified in BP-2 in ESRS 2.

Compensation metrics [S1-16] Remuneration metrics (pay gap and total remuneration)

Fresenius calculates an adjusted gender pay gap. The key figure is marked by a high proportion of female employees in the Group of 67.5% (2024: 67.4%), which is particularly strong in lower-paid occupational groups, while the proportion of women in occupational groups with higher compensation is not on the same level as in the Group.

Appropriate compensation is ensured globally, for example, by the high proportion of employees covered by collective agreements of 74.4%. Within the professional groups covered by a collective agreement, basic compensation is defined by the respective provisions.

The gender pay gap is defined as the difference in average pay levels between female and male employees, expressed as a percentage of the average pay level of male employees. Gross pay for the calculation of the gender pay gap comprises gross annual wage from payroll elements and from non-payroll elements, e.g., the value of the company car. Payroll elements include all employee payments like base salary, bonuses, overtime, commissions, allowances, and benefit payments, using a cash flow principle that reflects actual paid values rather than target amounts. Fresenius calculates the company car value using taxation rates or leasing rates. Pension provisions and insurance payments are excluded. The total hours are calculated based on actual hours worked, including overtime, with provisions to use standard contractual hours if actual hours cannot be directly determined. For Fresenius Helios outside of Germany, standard contract hours are considered. Both actual and standard hour calculations account for paid leave periods such as vacations, sick leave, and public holidays.

With the exception of Fresenius Kabi, the average gross hourly wage for each employee is calculated by dividing the gross annual salary by the number of hours actually worked by the employee. Fresenius Kabi adds up the gross annual salaries and the actual hours worked separately for each gender and then divides the salaries by the hours. The two approaches are to be standardized in the future.

The annual total compensation ratio is defined as the annual total compensation of the highest-paid individual in relation to the weighted median annual total compensation of all employees (excluding the highest-paid individual). The annual total remuneration for the highest paid individual increased due to the positive operating development of the company and the related increase in the short-term variable compensation. This also leads to an increase in the annual total remuneration in relation to the weighted median annual total compensation.

Fresenius uses the weighted median instead of the real median in the calculation. In this process, the medians of all companies are weighted with the respective number of persons in order to calculate a median at Group level. The weighted median represents the salary point where 50% of employees earn less and 50% earn more, with each salary weighted by the number of employees at that specific salary level. Total compensation encompasses gross annual wage from payroll and company car value as a non-payroll element. Gross annual wage includes all employee payments such as base salary, bonuses, overtime, commissions, and allowances, following a cash flow principle that uses actual paid values rather than target amounts in the reporting year. Excluded are pension provisions and insurance payments. Company car valuation uses the leasing rate or allowance if chosen.

Incidents, complaints, and severe human rights impacts [S1-17] Incidents, complaints, and severe human rights impacts

In the reporting year, the company received a total of 509 (2024: 348) work-related reports. This includes incidents of discrimination or sexual harassment, as well as cases from the category of Health / Safety. 351 (2024: 284) reports were documented, investigated, and evaluated in the Compliance Case Management categories HR / workplace and Health / Safety in accordance with the applicable compliance regulations. In addition, reports outside of Compliance Case Management were documented, e.g., via HR functions. This additional reporting channel covers, in particular, reports that have been received directly by the responsible HR functions. In the reporting year, these amounted to 157 (2024: 44).¹

The guidelines for documenting reports received in this way were standardized for the first time. This standardization was communicated to HR functions in all segments through extensive training and information measures during the reporting year. The aim of these measures was to raise awareness of the documentation requirements and the follow-up of reports. Further information on the channels of the reporting systems of Fresenius can be found in the details on S1-3. Of the cases from the Compliance Case Management category Environment / Health / Safety, 20 cases were estimated to be reportable in relation to Health / Safety in 2024. The estimate was based on the fact that the category only permitted a consolidated evaluation. In 2025, the categories were adjusted to allow for differentiation. A total of 22 cases were reported in the category of violations of occupational health and safety regulations during the reporting year. As shown in the table, 51 (2024: 38) of the total reports were deemed to be substantiated or confirmed. Fresenius also takes reports that are not substantiated by the investigation as an opportunity to review existing structures and, if necessary, adjust measures as a precaution.

In 2025, Fresenius received notifications of incidents within the own business operations that also involved human rights-related aspects. At one site a violation of occupational health and safety requirements that falls under the scope of the German Supply Chain Due Diligence Act (LkSG) occurred. For this case, a regulatory fine of €6,000 is expected, which will become due in 2026. Extensive remedial actions have been initiated, and processes, work instructions, and the working environment have been adjusted to prevent future incidents and to uphold the globally mandatory high occupational health and safety standards.

Further, cases of exceeding the permitted working hours were identified. No further severe violations of internal policies in the area of employees or equal treatment and opportunities for all were reported whose impacts would have been material for the financial position or reputation of the company. Fresenius discloses the total number of discrimination and harassment incidents in its own workforce. Fresenius defines harassment as a form of discrimination involving unwanted physical or verbal behavior that offends, intimidates, threatens, or humiliates someone, manifesting in verbal, sexual, physical, and psychological forms. Discrimination refers to unfair treatment of individuals or groups based on specific characteristics defined by national laws. Discrimination can occur across various work-related activities, including employment access, job assignments, recruitment, compensation, working conditions, training opportunities, career advancement, and employment termination. Complaints of discrimination or harassment are filed through channels for people in Fresenius’ own workforce to raise concerns (including grievance mechanisms) and, where applicable, to the National Contact Points for OECD Multinational Enterprises.

If it is currently under review, it is not yet confirmed as a discrimination / harassment incident. Fines and penalties are monetary punishments enforced by legal authorities, while compensation is a sum paid to an individual in recognition of suffering. In cases of harassment or discrimination, compensation may include covering counseling expenses, providing paid time off, or reinstating used sick or vacation days. Remedial actions address both the harasser and the victim, potentially involving verbal or written warnings, mandatory counseling, training, suspension without pay, or more serious disciplinary measures for repeated offenses. These actions and financial consequences must be directly linked to a reviewed and recognized case of discrimination. The respective amounts are documented and consolidated at the end of the reporting year. In 2025, the value is €0.

Severe human rights incidents encompass incidents of child labor, forced labor, human trafficking, and incidents affecting numerous people or extensive areas. These could lead to lawsuits, formal complaints or serious public allegations. In the reporting year, no such severe incident was reported. An overview of human-rights-relevant incidents in accordance with the LkSG can be found in topical standard S2 Workers in the value chain, Metrics section.

¹ It is not possible to adjust the previous year’s figure as comparative information. This information is based on ESRS 2 BP-2.13a-c, which is based on ESRS 1 Section 7.4, as specified in BP-2 in ESRS 2.

Employee Engagement Index [MDR-M] S1-Company-specific

The EEI describes how strongly employees identify with their employer and how committed they are to their work. It is an important indicator of both employee loyalty and productivity.

Fresenius’ EEI for the reporting year was 4.14¹ (2024: 4.02¹); the target value of 4.33 was not achieved. The results differ across the Operating Companies. Since in the reporting year 2025 an additional approximately 4,300 FHS employees who had not previously been included were integrated into the Corporate / Other segment (2024: approximately 1,200), the results for Corporate / Other are not comparable with the previous year.² The previous year’s figure was not restated.

The results for Fresenius Kabi and Fresenius Helios in 2024 remain comparable with those in 2025. The EEI at Fresenius Kabi is 4.7 and at Fresenius Helios 3.9 while the segment Corporate / Other was at 4.1. Fresenius plans to evaluate the different results in order to identify specific areas for action to improve the value across the Group.

The survey shows that more respondents identify with Fresenius today than in the previous year. As a result, however, there is potential for improvement in the balance between work and private life. The greatest need to catch up is more recognition and clearer communication – especially from the management levels. It is also important to the respondents that their feedback leads to concrete improvements.

Fresenius is currently evaluating the results and the information received via the comment field in detail. Here, Fresenius also wants to investigate the causes. Based on these findings, Fresenius plans to develop and implement targeted initiatives at the global, regional, and local level in 2026 – right down to the locations and teams.

As described in the S1-2 Dialogue with own workforce and employee representatives section, Fresenius conducts annually a group-wide employee survey. Participation in the employee survey was 56% (2024: 63%) in the reporting year.

In 2025, there were 30 Group-wide standard questions, including two open-ended questions. Three of these 30 questions are included in the Employee Engagement Index, thus enabling a Group-wide comparison. These are rated on a scale of 1 to 6 and are:

• When I get the opportunity, I speak positively about working at this company.

• I rarely think about leaving this company to work somewhere else.

• This company motivates me to give my best.

In addition, the Operating Companies added specific questions that address their respective needs and priorities. This ensures that both a Group-wide view and the individual needs of the various units can be taken into account. For Fresenius Kabi, for example, there were two specific questions.

The following criteria are standardized across all Operating Companies: the established provider, period, and data cut-off date for the employee population, as well as the reporting platform.

After the survey is completed, the EEI (a decimal number with two decimal places) is calculated from the three globally collected questions on employee engagement. Fresenius measures EEI at the individual Operating Company and Group level. The EEI of the Fresenius Group is weighted according to the number of employees in the Operating Companies. Data is collected annually and reported for the aggregated KPI. In the reporting year, the survey took place from October 1^st to October 28, 2025.

The group of participants included all Fresenius employees worldwide who had an active employment contract on June 30, 2025, including students, apprentices, and interns, depending on the local legal situations. Employees whose last day of work was before June 30 and those who were on long-term leave on June 30 were not surveyed. A few units were excluded or not considered. Reasons include the ongoing transformation processes or legal restrictions, such as those affecting the public hospitals Fresenius operates in Spain, the units of Fresenius Vamed (with the exception of FHS), and a small number of units that cannot be taken into account due to existing political conflicts / due to legal restrictions.

The employees of Fresenius SE & Co. KGaA received an email invitation with a personal participation link that led to the survey. In other Operating Companies, individualized invitation links or individualized identification in the survey ensured that employees were able to participate in the survey.

The questionnaire was offered in several languages, including English, German, Chinese, Polish, Portuguese, and Spanish.

¹ The Employee Engagement Index (EEI) (Fresenius Group) as part of the short-term variable remuneration (STI) of the Management Board is assured with reasonable assurance, as explained on pages 431 ff. in the assurance report of the independent German public auditor.

² This information is based on ESRS 2 BP-2.13a-c, which is based on ESRS 1 Section 7.4, as specified in BP-2 in ESRS 2.