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Independent Practitioner’s Assurance Report

This document is an English translation of the Finnish Independent Assurance Report.

To the Management of Hansel Oy

We have been engaged by the management of Hansel Oy (business ID 0988084-1) (hereafter “Hansel”) to provide limited assurance on selected numerical sustainability indicators and text claims (hereafter “Sustainability Information”) presented in Hansel’s Annual Report 2024 for the reporting period 1.1.–31.12.2024.

The Sustainability Information subject to the limited assurance are presented in the following chapters of Hansel’s Annual Report 2024:

  • Operations
  • Renewing procurement
  • Sustainable procurement
  • Hansel as an employer and
  • GRI index.

Management’s Responsibilities

The management of Hansel Oy is responsible for the preparation and presentation of the Sustainability Information in accordance with the reporting criteria i.e. GRI Sustainability Reporting Standards. This responsibility includes designing, implementing and maintaining internal control, maintaining necessary documentation, as well as making estimates relevant to the preparation of the Sustainability Information that are free from material misstatement, whether due to fraud or error.

Independent Practitioner’s Responsibilities

Our responsibility is to perform a limited assurance engagement and to provide an independent conclusion based on our engagement. We performed our assurance engagement in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised) “Assurance Engagements other than Audits or Reviews of Historical Financial Information”. This Standard requires that we plan and perform the engagement to obtain limited assurance about whether the Sustainability Information is free from material misstatement. The nature, timing and scope of the limited assurance procedures are based on professional judgement, including an assessment of material misstatement due to fraud or error, and we maintain professional skepticism throughout the engagement. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.

We are independent of Hansel in accordance with the ethical requirements that are applicable in Finland and are relevant to our engagement, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

KPMG Oy Ab applies International Standard on Quality Management ISQM 1, which requires the authorized audit firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Description of the Procedures That Have Been Performed

As the methods of obtaining evidence are more limited in a limited assurance than in a reasonable assurance, an assurance obtained is more limited than in a reasonable assurance. We have designed and performed procedures to obtain sufficient and appropriate evidence for limited assurance and to provide a basis for our 2 conclusion, therefore we do not obtain all the evidence, which is required in reasonable assurance. While we consider the design of internal controls when determining the nature and scope of our assurance procedures, our limited assurance engagement is not included the testing of the operating effectiveness of internal controls. Our procedures did not include control testing or performing procedures related to combining and calculating data within IT systems. The limited assurance engagement consists of inquiries of individuals who are responsible for preparing the Sustainability Information and related information, as well as for carrying out analytical and other procedures.

In the engagement, we have performed the following procedures, among others:

  • Interviewed members of Hansel Oy’s senior management and relevant personnel responsible for providing the Sustainability Information;
  • Assessed the application of the reporting principles of GRI Sustainability Reporting Standards in disclosing the Sustainability Information;
  • Assessed data management processes, information systems and working methods used to gather and consolidate the Sustainability Information;
  • Reviewed the disclosed Sustainability Information and assessed its quality and definitions of reporting boundaries;
  • Assessed the accuracy and completeness of the Sustainability Information through a review of the original documents and systems on a sample basis.

Inherent Limitations of the Engagement

Inherent limitations exist in all assurance engagements due to the selective testing of the information being examined. Therefore fraud, error or non-compliance may occur and not be detected. Additionally, non-financial data may be subject to more inherent limitations than financial data, given both its nature and the methods used for determining, calculating and estimating such data.

Conclusion

Based on the procedures performed and the evidence obtained, nothing has come to our attention that causes us to believe that the Sustainability Information for the reporting period 1.1.–31.12.2024 subject to the limited assurance engagement is not prepared, in all material respects, in accordance with GRI Sustainability Reporting Standards.

Helsinki, 25 March 2025
KPMG OY AB

Mikko Luoma
Authorised Public Accountant

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