ESRS S1 Own workforce

ESRS S1 Own workforce

Impact, risk and opportunity management and strategy

Material own workforce-related impacts, risks and opportunities in relation to strategy and business model (IRO-1, SBM-3)

PUMA manages its material impacts, risks, and opportunities related to its workforce, covering all directly employed staff with a contractual employment relationship (part-time, full-time or permanent and fixed term) with PUMA across all of its global operations. The process of identification of social material topics is explained in detail in the General information (IRO-1) section. The strategy, metrics and targets are established for PUMA’s own workforce/employees including office staff, retail employees or employees in owned warehouses and one factory who fall within this scope. Our People and Organisation (P&O) department’s strategy-driven efforts and actions in impact, risk, and opportunity areas enable us to achieve business and growth success while attracting top talent. In the General information (SBM-2) section, we highlight some examples of the interests of our employees and their representatives, as well as their role in our strategy. We align our people strategy and priorities with employee needs, take actions aiming to create positive impacts and mitigate challenges as detailed below. Unless specified otherwise, these IROs are relevant for all types of employees within PUMA’s own workforce.

PUMA's employees may face varying levels of risk exposure, with those in warehouses and facilities in Argentina being at slightly higher risk compared to office environments due to the nature of their work, which involves physical labour. Given the nature of PUMA’s own operations, such as offices and stores, there is no significant risk of incidents of child or forced or compulsory labour.

Policies related to own workforce (S1-1)

At PUMA, we have various policies addressing the material IROs related to our own global employees. The key policies are the Code of Ethics, the Human Rights Policy, the Occupational Health and Safety Policy, and our Human Rights Guideline, all developed to consider the interests of all our employees. We are aware of those interests thanks to various engagement methods which are explained in the General information (SBM-2) section. Those policies are public documents referenced in Annual Reports, and constantly communicated to the employees through emails and training. In line with our global policies, the retail operation sets policies and procedures to implement these requirements in stores. The P&O department monitors the implementation with regular meetings with regions and countries.

We have a zero-tolerance policy against violations of fundamental human rights, including labour rights. Our commitments articulated in those policies, especially the Human Rights Policy, include, but are not limited to, the right to an adequate standard of living, freedom of association, access to a safe working environment, zero tolerance of discrimination or any forms of forced or child-labour, modern slavery, or human trafficking. Since 2006, PUMA’s Code of Ethics guides our actions and expectations forming part of mandatory training and the communication campaigns of the Compliance team. We ensure the protection and promotion of the rights of all our employees.

Our Human Rights Policy endorses internationally recognised standards like the UN Guiding Principles on Business and Human Rights, the International Bill of Human Rights, which consists of the Universal Declaration of Human Rights and the two covenants, and the ILO’s Declaration on Fundamental Rights and Principles at Work, the Ten Principles of the UN Global Compact and OECD Due Diligence Guidance for Responsible Supply Chains in the Garment and Footwear Sector. It considers the recommendations given in those instruments and conventions and explains the due diligence approach and mentions the principles for the identification, mitigation and prevention of risks, in addition to addressing grievances and remediation processes.

In 2023, we reworked our existing social standards and introduced a separated global Human Rights Guideline to ensure measures at PUMA entities globally and mitigate risks and opportunities related to Human Rights topics. In 2024, the Guideline was published and communicated for global implementation. The standards that we set are aiming for the best work environment and opportunities for our own workforce while managing our impact and implementing measures to control risks. This Guideline also includes a section on preventive measures and remedial actions. PUMA takes all appropriate measures to prevent such risks and end any potential violations immediately in line with their severity and the principle of proportionality.

PUMA has a zero-tolerance policy when it comes to discrimination. We prohibit any form of discrimination based on race, colour, nationality, gender, age, language, pregnancy, religion or belief, marital status, health status, social or ethnic origin, union membership, political views and affiliation, sexual orientation, birth or other status such as disability. Equal opportunities and non-discrimination apply in employee management include hiring, training, promotion, social benefits, work assignments, salary, discipline, termination, and retirement. We make sure that job requirements are based solely on skills, ability, and experience to do the job, and set to attract best talents and shape the success of the company. For instance, while indicating job descriptions, we ensure that we do not disadvantage any groups by giving guidance to subsidiaries and using inclusive language. To promote ethical behaviours in the workplace, our Compliance team provides annual training. We adjust the physical environment to ensure that all employees feel secure and safe without exception. We provide remediation and recourse for any identified discrimination cases.

For more than 10 years, we have an Occupational Health and Safety Policy to ensure a healthy and safe working environment and prevent workplace accidents, explaining PUMA’s management system in place to prevent workplace accidents. Human Rights Guideline sets control and measures for all own operations.

In 2023, we reworked our existing social standards for our own employees and introduced a separated global Human Rights Guideline to ensure measures at PUMA entities globally and mitigate risks and opportunities related to Human Rights topics. In 2024, the Guideline was published and commenced its global implementation. The standards that we set are the best work environment and opportunities for our own workforce while managing our impact and implementing measures to control risks. This Guideline also includes a section on preventive measures and remedial actions. PUMA takes all appropriate measures to prevent such risks and end such violations immediately in line with their severity and the principle of proportionality.

The afore mentioned Policies and Guideline have been adopted by the Management Board on behalf of the PUMA Group. We also engage with our own employees on our commitment and policies via engagement mechanisms and grievance procedures.

For talent acquisition, management and employee development, we implement internal policies and strategies globally. All subsidiaries adapt these to their local business and employee needs. PUMA, ensures ongoing professional and personal development for employees, tailored to individual needs, while offering equal opportunities to access a wide range of training programs, both online and offline, including courses, workshops and coaching. We also track and record employee development and progress.

Strategy

Our people strategy is designed to create positive impact, and address any actual and potential material impacts, risks and opportunities. With our strategy, our P&O department considers both our employees’ interests and business needs. It underpins PUMA’s unique work environment and organisational culture which attracts and retains top talents. In this culture, we listen to our employees and, value their feedback while taking decisions and empowering them to take initiative. We constantly compare our performance and practices with other top employers. Our people strategy is based on three main pillars: People First, Sustainable People Practices and Digitalisation.

The People First pillar puts employees at the centre of our decision making. It means listening and understanding their needs and values to improve working conditions and fostering flexibility and autonomy. That helps us to excel in talent management and talent retention. It also creates an inclusive culture that respects diversity, promotes health and wellbeing, and encourages personal and professional growth.

Sustainable People Practices build a resilient organisation. This pillar creates a workplace culture that prioritises opportunities for career growth, training and development. PUMA adopts a data-driven approach to talent acquisition to ensure that the company remains the employer of choice in the minds of external applicants. We analyse previous recruitment trends, identify the primary sources of talent inflow, and tailor our talent acquisition approach accordingly. By equipping our employees with the future skills and leadership qualities necessary, we ensure the long-term success of PUMA. We also focus on upskilling in talent management.

Digital tools in human resources enhance work experience and keep us competitive and agile in a fast-changing business landscape. Using digital technology boosts efficiency, data-driven decision making, and employee experiences. We offer digital literacy programs to ensure all employees are equipped to thrive in a digital environment.

Engagement with own workforce and workers’ representatives about impacts (S1-2)

PUMA’s company culture prioritises ongoing employee engagement and open dialogue. Various channels are in place to report any feedback and observations related to workforce issues. We engage directly with our employees and collaborate with employee representatives. Dedicated employees within the P&O department work on employee engagement, and budgets are allocated for this purpose.

Our employee listening strategy includes surveys (employee voice and pulse), focus groups, interviews and sentiment analysis. We gather employee views using digital tools such as Peakon and Workday. These engagement tools help us manage impacts on our own employees, understand their needs and work on new initiatives. Our commitment to employee engagement ensures their voices are heard and considered in our decision-making. For instance, PUMA decided to review a mobile and flexible working policy as an outcome of employee engagement processes. This decision, informed by survey results, provides our employees with enhanced flexibility. The P&O department and global Vice President of P&O are responsible for ensuring that engagement tools are used effectively, and the findings are considered in decision-making.

As a main engagement measurement tool, we have conducted global employee opinion surveys since 2009. Every year, we conduct these global surveys by email to monitor employee engagement and collect feedback on various topics mainly on workforce and work-life, but also gender equality, health and safety, training and learning, etc. We share the survey results globally creating reports with breakdowns of assessed categories such as gender or demographics. In this way, we can reach diverse and vulnerable employee groups. In order to engage with retail employees, we use digitalisation so that they can participate from any mobile device with their employee IDs. We also organise an internal communication campaign with the participation of the CEO and global Vice President of P&O where the findings are shared in an understandable way. The input is analysed locally and at a department level. We create action plans and follow up on the progress.

Other engagement methods such as focus groups, are used even more frequently based on the topic and targeted employee groups. We measure the effectiveness of our engagement tools by tracking both employee participation rates and the progress made on action plans. We aim to have the highest participation rate possible to make sure that the tool is used effectively. Our trust-based and constructive collaboration with the Works Councils is an important part of our corporate culture. The European Works Council of PUMA SE represents employees from 14 European countries and has 18 members. The German Works Council of PUMA SE consists of 17 members and represents the employees of the PUMA Group in Germany. A designated member of the Works Council in Germany represents the interests of employees with disabilities. These two Councils meet regularly and convene based on emerging topics that need to be consulted.

We have various employee resource groups that foster a collaborative working environment where employees can learn from each other, share their experiences and be part of cultivating a company culture. These groups meet in person, but we also use digital tools to facilitate communication and interaction. At PUMA Headquarters, for instance, there is a Diversity, Equity and Inclusion Group where employees can engage both in person and digitally via Viva Engage to voice their journeys. We also conduct global townhall meetings where our employees from different locations can communicate with the Board directly and share their questions, comments and feedback in person and online.

Our engagement activities are not limited to our own workforce, but also involve potential talents and candidates. To get suggestions on how to improve the brand, we invite them to digital PUMA events and listen to them. Reactive engagement occurs when concerns are raised, and grievance mechanisms are also useful tools that we use for employee engagement and feedback collection.

Remediation of negative impacts and channels to raise concerns (S1-3)

At PUMA, we have a zero-tolerance policy when it comes to violations of fundamental Human Rights and environmental protection laws as part of PUMA policies as declared in our Code of Ethics, Code of Conduct and Human Rights Policy. PUMA employees can raise their concerns regarding any issues or violations of the applicable laws and PUMA policies through various complaint mechanisms at their discretion. They may choose to file a complaint by contacting their supervisors, staff representative or P&O Business Partner as well as the Local or Chief Compliance Officer, as described in the Code of Ethics. They can also raise their concerns via PUMA’s external whistleblowing platform, or the Works Council, if it exists in their country. PUMA employees may choose to remain anonymous when using SpeakUp, as the encrypted data is transmitted via the secure and independent, third-party server of our provider.

All investigations are conducted in an impartial manner and comply with the applicable laws and regulations. PUMA employees who submit a complaint are protected from any form of retaliation or disciplinary action provided that the complaint was made in good faith. Any acts of retaliation against a PUMA employee who submit a complaint leads to appropriate disciplinary action. This is further addressed in our Code of Ethics.

If the investigation confirms a violation or a potential risk of a violation of the law or PUMA policies, all appropriate measures are taken to prevent, end or minimise such violations or potential risk of violation in accordance with the severity and the principle of proportionality. Appropriate measures include risk analysis, audits and/or on-site inspections, preventive measures (such as training programs) and/or the implementation of a corrective action plan. We maintain thorough documentation for all cases throughout the investigation process on SpeakUp. This includes recording the results of the investigation and the measures taken to address any violations or risks. Additionally, Group Compliance tracks all on-going cases on a regular basis in order to ensure investigations are conducted without undue delay.

PUMA’s complaint mechanisms serve as a way for us to be aware of and capable of remedying potential risks and violations of applicable laws, regulations and PUMA policies. Therefore, we promote a company culture which encourages PUMA employees to speak up and ensure that they are aware of our complaint mechanisms. For corporate employees, we regularly conduct awareness campaigns and communicate with our employees through in-person training, email, and our internal Sharepoint to promote awareness of the availability of our complaints mechanisms. For our retail employees, awareness measures are shared on employee boards in the stores. Furthermore, our Global Compliance team provides regular and mandatory training on our Code of Ethics to all PUMA employees.

In assessing the trust in our complaints mechanism, we had conducted a global risk assessment within PUMA’s own operations covering various compliance risk areas, including compliance culture. The results showed that 99 % of the participants selected for the global risk assessment expressed that the compliance culture at PUMA is positive, and 92 % of these participants are aware of our SpeakUp platform, which is an indicator of trust in our complaint mechanisms. Additionally, our employee opinion surveys indicate that most PUMA employees feel confident in raising concerns at the workplace and believe their voices are heard.

To ensure the effectiveness of these channels, PUMA is committed to reviewing the effectiveness of the complaint procedure at least once a year and/or on an ad hoc basis if PUMA expects a significantly changed or significantly expanded risk situation. For more information on complaint submission and processing, confidentiality, non-retaliation, remedial actions, please refer to PUMA’s Rules for the Complaint Procedure.

Actions on material impacts on own workforce, and managing material risks and opportunities related to own workforce (S1-4, MDR-A)

PUMA takes annual actions to manage its potential or actual negative impacts and enhance positive impacts on working conditions and equal opportunities for all employees, globally. For all key actions to take, we consider our strategic priorities and engage with our employees using methods that are explained in the Engagement with own workforce and workers’ representatives about impacts (S1-2) section. We track the effectiveness of the actions with various tools such as surveys, tracking data and metrics. In addition, PUMA seeks consultation with the Works Council when making decisions and taking actions in material impact areas to ensure that employees are not adversely affected. Our actions for ensuring better working conditions and equal treatment and opportunities support our policy objectives and SDGs.

Working conditions

In 2024, we took various key actions to manage our impacts in every topic related to working conditions. They are explained under the sub-topics of secure employment, working time, adequate wages, social dialogue, freedom of association and collective bargaining, work-life balance and health and safety.

They are explained under the topics of secure employment, working time, adequate wages, social dialogue, freedom of association and collective bargaining, work-life balance and health and safety.

Secure employment

PUMA ensures secure employment and social protection for its employees, including job security, parental leave, sick leave, and insurance contributions. Pension Provisions are explained in the Notes to the consolidated financial statements in the chapter on Pension Provisions. The Human Rights Guideline which was introduced in 2024, sets controls and measures for all PUMA’s own operations, sets provisions for the basis to follow in all countries.

We proactively anticipate developments by linking our headcount to revenue developments, and constantly apply upskilling and reskilling initiatives to ensure our team's growth and stability, thereby avoiding mass layoffs.

In 2024, we continued to monitor both permanent and fixed-term contracts, as well as the number of part-time and full-time employees. We focused on reducing voluntary turnover in both offices and retail operations. Our overarching goal is to ensure that at least 80 % of our employees hold a permanent contract. In the future, we will continue to consider this target while offering contracts.

Working time

At PUMA, a regular workweek globally does not exceed 48 hours, most PUMA employees work less than 48 hours due to a 5-day work week and employees are guaranteed one day off for every seven-day period. Overtime hours are permitted only as long as the overtime hours are within the limits permitted by national, state or local legislation, or collective agreements. We do not request overtime work on a regular basis, and consider its compensation at a rate consistent with applicable law. While planning the schedules and shifts of store employees, we consider both the needs of the business and the requests of employees. In 2024, we continued to monitor that all PUMA operations comply with this standard.

Adequate wages

Since 2021, we have used the Fair Wage Network’s living wage database to ensure that all employees globally are paid a living wage. We have continued our cooperation with the Fair Wage Network, allowing access to benchmarks for all of our subsidiaries. Since 2022, performance indicators tied to bonuses have been tracked by the global leadership team to ensure this. In 2024, all employees who generate their living income with PUMA are earning a living wage or more based on the Living Wage Adjusted Mean benchmark as defined by the Fair Wage Network.

Social dialogue, freedom of association and collective bargaining

At PUMA, our constructive dialogue culture positively impacts employee rights by allowing participation in management. We encourage social dialogue, regular information sharing, and consulting with worker representatives before making employment-related decisions. We recognise the right of freedom of association of our employees and their rights to unionise or join trade unions, employee representation bodies or industry-related associations, including the right to strike and bargain collectively, without fear of discrimination, intimidation, or retaliation. We also respect the right of our employees not to join unions or other associations. As explained in the Engagement with own workforce and worker’s representatives about impacts section, our trust-based, constructive collaboration with the Works Councils continued to be an important part of our corporate culture.

Work-life balance

At PUMA, we offer a range of services and benefits to enhance their health and happiness. Our wellbeing strategy cover four main areas: Flex, Social, Financial and Athlete. In 2024, we provided a selection of sports classes and training opportunities in our outdoor and indoor facilities, in addition to organising sports events and offering gym classes. We continued to promote our “Be Well Weeks” initiatives and included complementary health checks, nutritional counselling and wellness resources such as ergonomic evaluations and mental health guidance.

We continued to offer various working models, such as flexible working, mobile office, part-time and sabbaticals to help our employees balance their work and personal lives and manage stress. All of our offices around the world have a hybrid working model that offers flexibility in work hours and location. Since 2015, our Headquarters has held the German “audit berufundfamilie” certificate which recognises good working conditions for working parents, such as having a parent-child office, a nursing room, childcare facilities and summer camps for children during school holidays.

Health and safety

A central Health and Safety Committee at our Headquarters in Herzogenaurach meets every three months, including a specialised labour physician, a health and safety technician and employee representatives. They conduct regular health and safety inspections, complemented by official bodies like the German Berufsgenossenschaft. This committee also helps to take any required actions to reduce material negative impacts.

All major offices have designated local health and safety experts, and/or their own health and safety committees. Our Vice President P&O, as part of our Executive Management Team, reports at least quarterly on health and safety issues to our Executive Committee. In 2024, we continued mitigating safety risks. As part of ISO 45001 certification which an international standard demonstrating our commitment to safety and adherence to regulations, our Headquarters has been audited.

In our pulse survey, we collected feedback from our employees regarding their physical and mental health. Additionally, we provide an opportunity for employees to offer their recommendations and feedback to PUMA, ensuring that their insights contribute to the continuous improvement of health and safety. To increase awareness, we provide training programs such as general safety, fire safety and first aid to equip employees with skills to handle emergencies and reduce accidents. In 2024, we promoted our digital OHS training course to all our sites, which included hygiene and proper mobile office behaviour.

We aim for zero fatalities and lowering the average injury rate year annually. For more than ten years, we have recorded no work-related fatal accidents, and the rate of occupational diseases was zero at PUMA, including 2024. In the future, we want to ensure that we have zero fatalities.

Equal treatment and opportunities for all

PUMA is committed to providing a fair work environment and equal opportunities for everyone. We foster diversity, equality, and inclusion (DEI) in all aspects of our business. Our policy of equal treatment and anti-discrimination covers every part of the employee relationship, including the promotion of diversity and equal opportunities for training and skills development. By integrating DEI into our business, we enhance our international competitiveness. At PUMA, any form of discrimination based on race, colour, nationality, gender, age, language, pregnancy, religion or belief, marital status, health status, social or ethnic origin, union membership, political views and affiliation, sexual orientation, birth or other status such as disability is prohibited.

Diversity

At PUMA, diversity is an essential part of our culture enhancing our corporate culture and strengthening relationships with consumers, partners, and communities. By embracing diversity in all its forms, we are better equipped to serve the needs of our consumers, partners and communities. We foster an inclusive environment where every individual feels valued, respected, and empowered, enhancing business performance and creating a more equitable future. This commitment is part of our PUMA Code of Ethics (2005) and the 2010 Diversity Charter that we are part of.

We support people of all genders and believe that diversity drives success. We employ people from 145 countries. Our home base in Germany, employs people from over 84 different nations. “BE YOU” is central to our culture, promoting a respectful and supportive work environment where each employee can be their true self. Our employees represent all age groups. The average age of our employees worldwide is 32.

We listen to our employees to address systemic barriers and identify areas for improvement. In 2024, we revisited our diversity policy and included new targets. We also organised employee training on discrimination and injustice, intercultural communication, diversity, inclusion and belonging. In addition, we hosted talks with internal and external speakers and published articles on our internal communication platforms to raise awareness.

In 2024, we displayed rainbow flags at our Headquarters, lit up the building in rainbow colours and sponsored the Christopher Street Day (CSD) in Nuremberg during Pride Month to support the LGBTQIA+ community. In 2024, PUMA North America has made progress in advancing its “REFORM the Workplace” DEI Strategy through several impactful initiatives. To measure and enhance employee experiences, the "Belonging Survey" is introduced to assess sentiment around belonging and track progress year over year. Additionally, the "DEI Champion" learning track was introduced to enhance cultural competency and foster an understanding of diversity within the organisation. In 2024, PUMA’s first Hispanic/Latin Employee Resource Group, Juntos is created and became one of the ERGs including BBOLD and pumALLiance.

We prioritise an inclusive workplace for people with disabilities, adapting workplaces and training to meet their needs. In Germany, an elected Works Council member represents the interests of employees with disabilities. In some countries, legal issues prevent our companies from asking questions about and recording disability status and severity. Around 1 % of our employees have told us that they have a severe disability, but the true number is probably higher.

Gender equality and equal pay for work of equal value

Our target is to ensure equal representation of women and men in leadership positions, with at least 45 % of leadership roles (teamhead and above) held by women and men by 2030. In addition, we aim to foster diversity and inclusion on all aspects including culture, ethnicity and sexual orientation measured using a leading diversity and inclusion score based on employee opinion surveys (top quartile of industry, every year until 2030).

Ensuring fair and non-discriminatory compensation is one of our strategic priorities. Our gender-neutral compensation framework is based on analytical job evaluations and a global grading system, ruling out any gender-specific discrimination. Our performance-based compensation system includes a fixed base salary, bonus schemes, profit-sharing programs, and various social and intangible benefits. We also offer long-term incentive programs for senior management, linked exclusively to company goals.

PUMA in Germany is certified as Universal Fair Pay Developer by the Fair Pay Innovation Lab for successfully having closed the adjusted pay gap (<1 %) as of 2023. In 2024, we have closed the gender pay in further PUMA subsidiaries. PUMA North America, Canada, Sweden, Italy, France and Spain, are certified as “Fair Pay Developer” for having closed the adjusted pay gap (<1 %). PUMA’s subsidiaries in South Africa and the United Arab Emirates were even certified as “Fair Pay Leader” which means that next to having closed the adjusted gender pay gap, the unadjusted pay gap is below 10 %. In 2025, the gender pay gap analysis will continue to be conducted and will be introduced to our other regions.

Training and skills development

At PUMA, talent development is at the heart of our training and skill enhancement initiatives. We analyse employee profiles to align internal talent with career opportunities, thereby building a succession pipeline. We foster a culture centred around feedback and results, coupled with a self-directed learning mindset through an integrated talent management approach.

At least once a year, all employees who are employed at PUMA for more than six months are evaluated, based on their performance and potential. In 2024, PUMA updated the Performance Management Process by adapting competencies, changing the rating scheme, and streamlining level segmentation to facilitate a more efficient and transparent evaluation.

Global talent conferences are held to assess PUMA’s workforce, including all levels of management. Criteria such as individual performance, competencies, potential, career direction, readiness, and mobility are used for evaluation. During individual appraisal discussions, managers and employees reflect on the past 12 months and formulate personal development plans with specific action steps.

PUMA focuses on internal talent mobility, providing employees with opportunities for professional growth and cross-cultural experiences, resulting in an enhanced learning curve on both professional and personal levels. Using digital platforms like Workday's Job Alert and Talent Marketplace, internal talents can easily find job opportunities. They also have the opportunity to connect with a mentor based on shared skills and explore new learning opportunities.

Strategic workforce planning and tools like Workday enable us to identify skill gaps effectively. We offer a wide range of training and development options based on specific needs, both online and offline. In 2024, employees enriched their Workday profiles by documenting their skills, certifications, trainings and career aspirations. A targeted analysis of employee profiles allows PUMA to align internal talent with upcoming career opportunities, helping to build a succession pipeline and address future competency needs.

Our onboarding process ensures that new hires have a positive first-day experience, equipping them with the necessary skills and knowledge to work effectively. As part of the onboarding training, we align new team members with PUMA’s culture, values, and mission, while also clarifying their roles. This process not only boosts productivity and teamwork but also supports better integration for new employees. Internal talent mobility is crucial for skills development, offering our employees professional growth and cross-cultural experiences. We use digital platforms to present internal job opportunities to all our employees.

The learning culture at PUMA is built on self-driven learning, which ensures the most suitable and tailored way to learn and develop skills for each employee individually. With our needs-based learning portfolio, which is crafted to align with the specific needs of our organisation, we identify the most relevant topics that will best support our employees’ growth and development. We deliver targeted learning experiences that enhance skills, boost productivity and drive success.

Our internal training department offers on-demand training, enhancing our organisation's learning capabilities. Acting as an internal service provider, it ensures higher coverage of learning and development requests, addressing the diverse needs of our workforce. We are currently exploring the implementation of a new training evaluation system to increase training effectiveness and demonstrate return on investment, and enhance employee satisfaction and engagement.

Our employees can access over 23,000 online training courses in multiple languages. PUMA employees also contribute to creating product-specific learning content. Localised learning ambassadors as retail trainers and regional P&O partners are equipped with smart authoring tools to produce local e-learning content. We run global e-learning campaigns on a regular basis on topics like compliance, cyber security, DEI, occupational health and safety. These are helping to ensure a safe and stable working environment and are performing with a significantly high average participation rate on a global level. To support language education, we offer access to the language learning platform Busuu, allowing our workforce to learn new languages at their own pace and according to their needs, in both corporate and retail environments. Our proactive learner engagement strategy includes activations, gamification, and internal learning competitions.

We share some examples of selected training programs at PUMA:

Agile learning: in 2024, we continued to provide digital agile learning programmes to our employees globally to establish an agile learning organisation. We focus on need-based training at two levels: Agile Rookie and Agile Facilitator. The Agile Rookie program serves as an entry level training initiative, allowing employees to get familiarised with various agile topics and methodologies. Meanwhile, the Agile Facilitator is designed for those employees who wish to further support their teams by facilitating agile meetings such as sprint reviews or retrospectives.

Leadership training ILP/ILP²/PLE: we highly value skills and leadership expertise in mastering complex challenges in a volatile world while achieving our goal of excellence. Our International Leadership Programme (ILP & ILP²) provides staff with essential competencies and promotes a shared knowledge of our leadership culture. PUMA leaders receive comprehensive training and coaching, including interactive learning, roleplay, best-practice learning, and joint projects. Mindful leadership and agile work are emphasised. The programme's modular design allows managers to apply their newly acquired knowledge between seminars.

In 2024, we introduced a hybrid approach to ILP to enhance the learning experience by using diverse learning styles and providing interactive, engaging sessions. This approach fosters a strong sense of community and networking opportunities while at the same time being more efficient and providing flexibility to the participants. To round up the Leadership Training portfolio, we also introduced ILP Focus. This two-day training has a very practical approach and serves as a follow-up for participants of ILP.

In 2024, we continued to promote PUMA Leadership Expedition program which is designed to teach leaders, as well as future leaders how to lead well in complexity and ambiguity. Self-driven learning, nugget-learning, learning sprints and peer-learning, coaches and group assignments underpin this virtual course. PUMA leaders can voluntarily be part of this program which takes around 100 hours and choose what, when, and how to learn from over 130 one-hour learning nuggets with a balanced mix of trainer-led virtual sessions and self-directed learning in 18 months. First-time managers get PUMA-tailored training “from employee to manager” to prepare them for their new role and ensure a common concept of leadership at PUMA.

Speed Up/Speed Up²: retaining talent and speeding up their progress is important for the success of our business. PUMA's High Potential programs, Speed Up and Speed Up², are designed to engage top performers by accelerating their development, unlocking new capabilities, and opening doors both domestically and internationally for a long and fulfilling career at PUMA. These programs offer participants unparalleled preparation and support for vertical advancement within the company, ensuring they remain competitive with even the most seasoned external candidates. This way, PUMA cultivates internal talent and develops responsible and innovative leaders from within the organisation. Cross-functional projects and tasks, coaching, mentoring, and specialised training prepares employees for their next career steps. Participants also get to meet top management and build strong networks around the world.

Coaching offer: at PUMA, senior employees and leaders can develop their goals with certified business coaches. We match employees with coaches based on their needs to ensure maximum impact. This fosters a culture of continuous improvement, enhancing performance and growth.

Future Talent: future talent management is important for PUMA. We participate in various career fairs and university initiatives both locally and abroad to approach potential employees and identify suitable candidates. Within our dual study program, young talents acquire a theoretical grounding through partnerships with various universities and practical experience in different PUMA teams. Our apprentices train as industrial clerks, IT specialists or retail sales manager. They work in various departments to build personal and professional skills and increase their knowledge while attending vocational school. Internships and working student positions are another way to become familiar with PUMA. Students from around the world get six months of work experience as well as the opportunity to build their network and hone their talents. In 2024, 10 apprentices and 6 dual students started working at PUMA’s Headquarters in Germany, bringing the total number of future talents to 24 apprentices and 16 dual students working for PUMA.

CAT Talk: CAT Talk is an innovative “edutainment” format designed to support PUMA’s strategic focuses by presenting 45-minute episodes featuring bite-sized learning content on various topics. This format fosters internal visibility, allowing talents to share expertise while entertaining and enriching the learning experience.

Retail development: to support our retail employees’ development, we provide two special programs: PUMA University for Trainers and PUMA University for Leaders. The PUMA University for Trainers certifies retail trainers, equipping them with advanced communication, coaching, and training skills to deliver PUMA’s curriculum, which includes selling, functional, leadership skills, and product and brand knowledge. The PUMA University Leaders program develops high-potential talents across various roles. Updated in 2024, it includes key topics such as PUMA’s global strategy, agile project management, emotional intelligence, and sustainability. Participants are selected through an assessment centre and improve their leadership skills through a blended learning approach.

Metrics and targets (MDR-M, MDR-T, S1-5)

As part of our Vision 2030, we established targets for our global own workforce during 2024. All targets are in line with and support our business strategy and policy objectives. During the target-setting process, we considered our impact areas and international trends in human resources areas, PUMA’s data trends over the years and benchmarks from peers. These targets were established after consultations with internal stakeholders, presentation at the Stakeholder Dialog meeting, and approval from both the Management Board and Supervisory Board, including the employee representative. All set targets contribute to our progress in SDGs.

Vision 2030 Targets (Baseline year 2025, own operations, global)

• Living wage: Continue ensuring that all PUMA employees who earn their living income with PUMA are paid a living wage every year
• Diversity and inclusion: Ensure equal representation of women and men in leadership positions with at least 45 % of leadership roles (teamhead and above) held by women and men by 2030 and foster diversity and inclusion on all aspects including culture, ethnicity and sexual orientation measured using a leading diversity and inclusion score based on employee opinion surveys (top quartile of industry, every year until 2030)
• Employee engagement and development: Keep a leading employee engagement score based on employee opinion surveys above the top quartile of the industry and provide 8-10 training hours per FTE every year
• Gender equality: Close the gender pay gap in all countries (externally verified)
• Health and safety: Zero fatal accidents and keep lost time injury rate below 2 (less than 2 injuries per 1,000,000 hours worked) every year.

10FOR25 Targets (Baseline year 2020, own operations, global)

• All PUMA employees who earn their living income with PUMA are paid a living wage
• In 2024, all employees are paid a living wage
• Zero fatal accidents
• In 2024, zero fatal work-related accident happened
• Injury rate below 0.5 and 80 % of employees trained on OHS
• In 2024, the injury rate was 0.44 and was below 0.5
• 85 % of employees trained on OHS.

Through those targets related to our own workforce, we aim to address fair compensation through an adequate/living wage target, enhance diversity and inclusion at PUMA and maintain the highest occupational health and safety standards at PUMA locations. Unless otherwise specified, progress towards the targets is measured annually, with data collected through a specialised HR software (Workday) and our social reporting campaign for 12 months, with contributions from all subsidiaries of PUMA. Target year is 2025 and no changes were made to the metrics or underlying methodologies for our 10FOR25 targets. Additionally, we consider relevant and internationally recognised benchmarks, such as the Fair Wage Network, for the living wage target.

¹ Year-end head count data for global workforce, directly employed by PUMA, same number considered in consolidated financial statements. It means that all employees performing work for PUMA owned entities are included. Interns are excluded from own workforce metrics.

² Gender as specified by employees.

¹ Year-end head count data for global workforce, directly employed by PUMA.

² In countries where PUMA's workforce constitutes at least 10 % of the total employee count. PUMA voluntarily discloses the number of employees in Germany since it is the location of the Headquarters.

¹ Year-end head count data for global workforce, directly employed by PUMA. Interns are excluded from own workforce metrics.

² The definitions of contract types are based on the local laws of countries.

³ Gender as specified by the employees.

⁴ Year-end head count data for global workforce, directly employed by PUMA. Interns are excluded from own workforce metrics.

⁵ Non-guaranteed hours employees are employees without a guarantee of a minimum or fixed number of working hours.

⁶ Interns are excluded from own workforce metrics.

¹ Year-end head count data for global workforce, directly employed by PUMA. Interns are excluded from own workforce metrics.

² The definitions of contract types are based on the local laws of countries.

³ Non-guaranteed hours employees are employees without a guarantee of a minimum or fixed number of working hours.

¹ Voluntary leave includes work contracts terminated by employees.

² Dismissals include work contracts terminated by employer.

³ Voluntary turnover is calculated based on the data of all employees who left PUMA voluntarily (resignations). The formula used is the number of employees who left voluntarily divided by total number of employees (year-end head count).

⁴ Involuntary turnover is calculated based on the data of all employees who left PUMA involuntarily (dismissals). The formula used is the number of employees who left involuntarily divided by total number of employees (year-end head count).

⁵ Calculated considering voluntary and involuntary terminations, retirements and deceased employees divided by the total number of employees (year-end head count).

⁶ The method for calculating the turnover rate has been adjusted compared to the publication in the Annual Report 2023.

¹ Number of employees (year-end head count) covered by collective bargaining agreements divided by the number of employees (year-end head count) multiplied by 100.

² In PUMA SE, there is a Works Council structure. PUMA is not part of any other international agreements.

³ It is disclosed where employees represent at least 10 % of the total number of employees. Voluntary statement is made for Germany since it is the location of the Headquarters.

⁴ EEA: European Economic Area.

⁵ Number of employees (year-end head count) working in establishments with workers’ representatives divided by number of employees (year-end head count) multiplied by 100.

¹ Year-end head count data for global workforce, directly employed by PUMA.

² Leadership positions refers to managers with at least one direct report.

³ Junior management positions refer to first-line managers (lowest level of management).

⁴ Top management positions refer to managers a maximum of two levels away from C-suite: (n-1) and (n-2).

¹ Age grouping is based on under 30 years old (-30), between 30-50 (30-50), over 50 years old (+50).

² Year-end head count data for global workforce, directly employed by PUMA.

³ Leadership positions refers to managers with at least one direct report.

¹ According to ESRS S1-10 all employees receive an adequate wage. All employees worldwide earn at least the minimum wages as defined on national levels. In case minimum wages are not defined on national level, wages of employees meet at least the living wage benchmark as defined by Fair Wage Network (applicable benchmark according to ESRS S1-10). All assessments have been performed internally.

¹ Includes all training hours given to employees, globally.

² The average training hours are calculated by dividing the total training hours (by gender) by the number of employees (by gender, year-end head count).

³ The average training hours are calculated by dividing the total training hours by the number of employees (year-end head count).

⁴ PUMA has a formal and regular talent and performance management process that supports employees in their development. The performance review includes self-assessments and evaluations by the manager based on criteria known to employees that are consequently discussed in appraisal talks. Additionally, employees can request a 360-degree feedback.

⁵ Every employee is supposed to have a performance review. Reported are digitally traceable performance reviews in Workday. Seasonal workers, employees in a terminated employment relationship, on leave or with a tenure of less than 3 months do not have a performance plan in Workday. No gender breakdown by Retail/Non-retail for 2023 available.

⁶ The ratio is calculated by the number of performance reviews divided by number of employees (year-end head count).

¹ Accidents at work occurring at the place of work or during movement in the course of work (i.e. excluding accidents occurring between home and the workplace) resulting in a work stoppage of at least one day.

² Work related ill health cases include diseases of mental and physical health.

³ No data for 2023 is available.

⁴ Calculated based on the number of accidents divided by the number of employees (year-end head count).

⁵ The coverage is calculated based on the number of employees (year-end head count) working in offices which are covered by ISO 45001 divided by the total number of employees (year-end head count).

¹ According to PUMA's Global Parental Leave Policy, all PUMA employees are entitled to take parental leave.

² The percentage is calculated by the number of employees who took parental leave divided by the total number of employees in the same gender category (year-end head count).

¹ Unadjusted gender pay gap is calculated by subtracting the average gross hourly pay level of female employees from the average gross hourly pay level of male employees, then dividing the result by the average gross hourly pay level of male employees, multiplied by 100.

² The total remuneration is calculated by dividing the total annual remuneration in € for the highest paid individual by the median employee’s gross annual total remuneration in € (excluding the highest paid individual). For the ratio the annual total direct compensation is applied, which includes base salary, bonus, car and long-term incentives. The total remuneration ratio is not validated by any external body other than the assurance provider.

³ Total remuneration ratio considering differences by country in tax and social security deductions, adjusted for differences in purchasing power.

⁴ Total remuneration ratio for Germany, considering that the highest paid individual is based in Germany.

Incidents, complaints and severe human rights impacts (S1-17)

In the reporting period, PUMA resolved four cases of minor harassment issues related to improper comments or behaviour in the workplace. All four cases have been duly investigated and documented. For each incident, appropriate remedial and disciplinary measures were implemented. The four cases are part of a total of 109 internal complaints related to work-related issues that were either reported through or recorded in SpeakUp in 2024. No severe human rights incidences have occurred at PUMA. None of these incidents have resulted in PUMA paying any fines, penalties, or compensation. Detailed information on SpeakUp and PUMA’s methodology for compiling data, conducting investigations and handling cases can be found in Business conduct policies and corporate culture (G1-1) section.

Community engagement (Entity-specific disclosure)

The community engagement through employee volunteering fosters a sense of connection to the brand Impact related to community engagement is explained in Material impacts, risks and opportunities in relation to strategy and business model (IRO-1, SBM-3). As part of our people strategy, we encourage all of our employees around the world to participate and record projects for employee engagement. PUMA’s P&O department is responsible for implementation of the initiatives in the areas of sports and health, environment, education and equality and non-discrimination. By actively participating in community initiatives, our employees not only contribute to their company engagement and social good but also develop a deeper understanding of diverse perspectives and challenges.

Since the start of our community engagement program in 2016, we have recorded over 240,000 community engagement hours globally. These ranged from beach clean-ups and tree planting to organising and participating in charity runs, helping underprivileged people, especially children, by donating food and school supplies.

Metrics and targets (MDR-M, MDR-T)

Vision 2030 Targets (Baseline year 2020)

• Community engagement: 500,000 hours of community engagement donated by 2030

10FOR25 Targets (Baseline year 2020)

• 2 hours community engagement per FTE
• In 2024, PUMA employees spent 43,913 hours (3,233 hours for PUMA SE) on community engagement. Considering the number of full-time employees (FTEs) in 2024 (18.668), we exceeded our target, and employees spent 2.4 hours on community engagement. The measurement of the target is performed through our specialised HR software (Workday) based on 12 months data, and covering all subsidiaries of PUMA.