Sustainability Policy
PURPOSE
The purpose of this Sustainability Policy is to serve as a guide toward more sustainable operations at Primex ehf. (“the Company”).
The policy covers the most significant environmental and climate impacts, social aspects, and governance factors relevant to the Company, and includes key performance indicators and measurable, time-bound objectives. Internationally recognized Nasdaq ESG (Environmental, Social, and Governance) standards form the foundation of this policy.
Primex publishes an annual sustainability report and statement based on the framework established by this policy.
RESPONSIBILITY
The Board of Directors and the Executive Management of Primex approve this policy. The CEO is responsible for its implementation, in collaboration with key managers. The policy and its objectives are reviewed annually, published on the Company's website, and communicated to all managers and employees.
ENVIRONMENTAL MATTERS
Primex is aware of the impact of its operations on the environment and strives to minimize negative effects as much as possible. The Company intends to do so by, among other things:
• Practicing responsible resource utilization in accordance with fisheries management laws.
• Mapping and setting clear goals to reduce greenhouse gas (GHG) emissions.
• Reducing purchases of products with excessive packaging, minimizing waste emissions, and improving efficiency in recycling through measurable means.
• Seeking ways to minimize waste.
• Supporting the circular economy and increasing the reuse rate.
• Mapping climate and sustainability-related risks that may affect the Company.
SOCIAL ASPECTS
It is important to Primex to be an attractive workplace that attracts and retains skilled and reliable employees. It is considered the role of the Company and its management to:
• Promote equality in the workplace.
• Support managers and staff in developing fair and respectful communication.
• Respect diverse perspectives and allow individual talents to thrive.
• Not tolerate bullying, violence, or harassment of any kind.
• Strive to ensure employee satisfaction, safety, and well-being through good working conditions, regular training, and education.
To support these efforts, the Company employs the following tools, policies, and certifications:
• Regular performance and feedback discussions are conducted between employees and supervisors to promote transparency and improved communication.
• Safety and occupational health training is provided to employees, and active safety committees work to ensure safety for all staff, both at sea and on land.
Primex supports and respects the protection of international human rights in accordance with national legislation and the United Nations Universal Declaration of Human Rights throughout all operations. The Company also respects the UN Convention on the Rights of the Child and strictly prohibits all human rights violations, including forced labor and child labor. Should a supplier, service provider, or partner be found in breach of human rights, the Company reserves the right to immediately terminate the business relationship.
CORPORATE GOVERNANCE
The Company recognizes the impact it has on society through its operations and emphasizes sound and ethical business practices in all respects. Customers are of the utmost importance, and the Company strives to provide them with outstanding service. Primex also aims to build strong, trust-based relationships with suppliers and service providers, valuing their role in the value chain.
Primex is a wholly owned company of Ísfélag, which is a publicly listed company on Nasdaq Iceland and adheres to recognized corporate governance guidelines issued by the Icelandic Chamber of Commerce, Nasdaq OMX Iceland hf., and the Confederation of Icelandic Enterprise, while following International Financial Reporting Standards (IFRS). The Company's Code of Conduct applies to all operations, employees, and contractors.
Through strong corporate governance, Primex establishes a foundation of trust with stakeholders and promotes objectivity, integrity, transparency, and accountability in management. The main stakeholders of the Company are:
• Shareholders.
• Customers.
• Employees.
• Suppliers and service providers.
• Society as a whole, particularly the local communities where the Company operates.
Other key stakeholders include regulators, legislators, investors, interest groups, the media, and financial institutions.
Primex monitors its commitments and communicates progress annually in its financial statements and annual reports.