1. Commitment to achieving Net Zero

Fidelity Energy Limited is committed to achieving Net Zero emissions by 2050.

Fidelity Energy sources 100% of its electricity from renewable sources and measures its full organisational carbon footprint annually. In 2024 we achieved carbon neutrality across our measured footprint by offsetting 100% of residual emissions through Gold Standard certified projects, and we will do the same for our 2025 measured footprint. Offsetting is maintained alongside, not instead of, the absolute emissions reduction measures set out in this plan.

2. Baseline Emissions Footprint

Baseline emissions are a record of the greenhouse gases that have been produced in the past, prior to the introduction of any strategies to reduce emissions. Baseline emissions are the reference point against which emissions reduction can be measured.

Baseline Year: 2024 (1 January to 31 December 2024)

Additional details relating to the baseline emissions calculations: the January to December 2024 calendar year is Fidelity Energy's first full emissions assessment and is therefore used as the baseline. Emissions were assessed using environmentally extended input-output (EEIO) methodology (TASA Analytics) consistent with the GHG Protocol Corporate Standard, across 44 employees. Scope 3 included sources: purchased office equipment (54.92), upstream transportation and distribution (17.41), employee commuting (41.51), waste generated in operations (12.09), and water and other minor sources (0.25).

Baseline emissions (tCO₂e)

3. Current Emissions Reporting

Reporting Year: 2025 (1 January to 31 December 2025)

Reported emissions (tCO₂e)

Change against the 2024 baseline: total emissions decreased by 2.9% year on year (152.70 vs 157.22 tCO₂e), with emissions per employee moving from 3.57 to 2.85 tCO₂e. Principal drivers: average headcount grew by 18% from 44 to 54 in the period, leading to higher employee travel related emissions (softened slightly by a greater proportion of EVs among staff). However, improved re-use and refurbishment helped to reduce the emissions impact of office equipment in spite of this headcount growth. The introduction of a sub-meter for office energy consumption drove a reduction in Scope 2 location based emissions, supporting the overall reduction. 2025 emissions will again be offset in full through Gold Standard certified projects, maintaining our carbon neutral position on measured emissions.

4. Emissions reduction targets

In order to continue our progress to achieving Net Zero, we have adopted the following carbon reduction targets.

We project that carbon emissions will decrease over the next five years to approximately 119 tCO₂e by 2029 , a reduction of approximately 15% against the 2024 baseline. Progress against these targets is shown below (tCO₂e):

5. Carbon Reduction Projects

Completed carbon reduction initiatives

The following environmental management measures and projects have been completed or implemented since the 2024 baseline. These measures are in effect and will be applied when performing the contract:

• 100% renewable electricity procurement for our premises (market based Scope 2 emissions approximately zero).
• Reuse first equipment procurement: refurbished IT and furniture as standard, targeting a 25% reduction in office equipment emissions, our largest source.
• Annual organisational carbon footprint measurement (GHG Protocol; 2024 baseline established, 2025 assessment completed).
• Gold Standard certified offsetting of 100% of residual measured emissions, with carbon neutrality achieved for 2024 and repeated for 2025.
• Expanded recycling capacity in office spaces.

Future carbon reduction initiatives

In the future we hope to implement further measures such as:

• Electric vehicle transition: an EV salary sacrifice scheme and a low carbon travel hierarchy (virtual first meetings, rail first for journeys over 50 km, no domestic flights), targeting a 50% reduction in business travel emissions.
• Lower carbon commuting: expanded Cycle2Work, car pooling and home working Fridays, targeting a 30% reduction in commuting emissions.
• Waste reduction: office composting and further recycling, targeting a 50% reduction in waste emissions.

6. Declaration and Sign Off

This Carbon Reduction Plan has been completed in accordance with PPN 006 and associated guidance and reporting standards for Carbon Reduction Plans.

Emissions have been reported and recorded in accordance with the published reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol corporate standard, and use the appropriate Government emission conversion factors for greenhouse gas company reporting.

Scope 1 and Scope 2 emissions have been reported in accordance with SECR requirements, and the required subset of Scope 3 emissions have been reported in accordance with the published reporting standard for Carbon Reduction Plans and the Corporate Value Chain (Scope 3) Standard.

This Carbon Reduction Plan has been reviewed and signed off by the board of directors (or equivalent management body).

Signed on behalf of the Supplier: John Haw, CEO