Basis for preparation

General basis for preparation (BP-1)

The Sustainability Statement is prepared to meet the requirements of CSRD and ESRS, in combination with internal guidelines and developed company-specific criteria (hereinafter referred to as reporting criteria) and prepare the report in accordance with it.

The overall report is audited by KPMG with limited assurance. Insofar as explicit metrics were audited by other external third parties, this is stated for the respective metric. Metrics in this report are not validated by third parties other than the assurance provider.

The scope of the Sustainability Statement follows the scope of PUMA’s financial reporting and extends into PUMA’s supply chain. The companies stichd and Cobra, both parts of the PUMA Group, are included in the reporting scope. PUMA licensees and franchised stores are excluded from the reporting scope (except for GHG emission calculation Scope 3 Category 14: Franchises). However, PUMA products made for franchised stores are included in relation to their supply chain. Also excluded is performance and materials data for products made by United Legwear, a supplier of products to PUMA United in the USA, over which PUMA has no operational or financial control.

The discontinuation of PUMA United operations did not have a material impact on PUMA Group sustainability-related IROs nor on the reported KPIs and targets. The scope of the sustainability data reported is specified in the related footnote.

Due to evolving dynamics in the value chain and in the operating model, the number of facilities or participants included within a given scope, as well as the scope definition of specific actions or targets may vary between reporting years. These changes shall be disclosed in greater detail in each subsequent topical chapters.

Unless otherwise stated, we use the following time horizons in the Statement: short-term: within the reporting period (up to one year), mid-term: 1 to 5 years, long-term: over 5 years.

Own operations

We report on our own operations (own entities). Own entities are fully consolidated entities within the PUMA Group. The data refers to the offices, operated retail stores, facilities (Argentina), and warehouses operated by PUMA staff and/or owned by PUMA, which means PUMA has operational control over them. This also covers the offices, warehouses and stores run by the staff of stichd, Teamwear and Cobra Golf.

Upstream value chain

Upstream value chain information includes data from core manufacturing partners’ factories (manufacturers of finished goods, Tier 1), core factories of materials and components (Tier 2), as well as PUMA’s logistic service providers. We collect and report on social compliance and environmental data from core factories to track progress towards our targets. By definition, core factories are those that represent approximately 60-80% of the total sourcing volume and have significant business growth potential in the future.

Material data, including consumption for products, labelling, and packaging, is collected and reported for PUMA, stichd, and Cobra. This scope specifically excludes PUMA United, licensee and Cobra products not sourced by PUMA Group Sourcing.

Our suppliers are independent third-party entities, unaffiliated with the PUMA Group. They operate autonomously with their own management and practices, and some are listed on local stock exchanges. PUMA does not participate in their management decisions, strategic planning, or daily operations, nor can it influence their choice of other customers. Therefore, PUMA has no operational control over our suppliers.

The Sustainability Statement covers PUMA’s downstream value chain only in the areas of products and waste, where material IROs have been identified (E5, S4 and G1).

To promote transparency and industry collaboration, PUMA uses several external databases to track environmental and social performance, for example:

Social audits: Fair Factories Clearinghouse
Wastewater data: ZDHC ClearStream
Chemical safety: ZDHC Gateway, BHive, CleanChain, E3
Sustainability metrics: Worldly
Wage benchmarks: FLA Fair Compensation Dashboard
Worker voice platforms: MicroBenefits CIQ, Labor Solutions (WOVO), Amader Kotha, Hamari Awaz

Disclosures in relation to specific circumstances (BP-2)

The data collection used for this Statement relies on primary data wherever possible. However, some exceptions to the collection of primary data have been incorporated to allow for timely and complete reporting. Where exceptions apply, those are noted on the respective data points in the Statement:

Environmental data from own entities (offices, stores and warehouses) and third-party warehouses has been collected for the first nine months of the year and extrapolated for the remainder of the year
Environmental and social KPIs data from PUMA’s core factories has been collected for the first nine months of the year and extrapolated for the remainder of the year
Material consumption data has been collected through Tier 1 and Tier 2 suppliers, for the first 10 months of the year and estimated for the remainder of the year
GHG emissions from core Tier 1 and Tier 2 factories are calculated using nine months of primary energy data, with extrapolation for the remaining months. The emissions from these core factories are then extrapolated to include the entire Tier 1 and Tier 2 portion of the upstream value chain
GHG emissions from Tier 3 and Tier 4 were calculated using life cycle assessment methods based on material consumption data. Due to limited primary data, average emission factors from Sphera’s GaBi database and HiggMSI were applied to the material volumes.

There is an inherent uncertainty in non-financial data, reflecting the complexity of the data collection process that involves multiple variables and sources. This complexity can lead to variations that are a natural part of gathering comprehensive information.

Data collection from larger offices may cause minor inaccuracies, as these sites often implement more sustainability measures than smaller ones. However, since extrapolations cover fewer than 10% of PUMA sites by headcount, the impact on accuracy is estimated to be below 5%. Seasonal variations can also affect energy data, but PUMA mitigates this by using 12 months of data where relevant, keeping potential inaccuracies low (below 5%).

Aside from the 2024 gender pay gap value for S1-16 being recalculated to reflect the ESRS methodology, no material errors have been identified in comparison to PUMA’s previously reported sustainability information as part of PUMA’s Annual Report 2024.

We have kept the preparation and presentation of previously reported data points consistent unless changes were required by CSRD. Where changes have been made, they are indicated in the individual sections.

In this Sustainability Statement the following sections have been included by reference:

Description of subsidiaries (ESRS 2)
Total net sales (including breakdown) and other financial information including Property, plant and equipment and leases (ESRS 2).

PUMA is applying quick fix phase-in relief to defer detailed disclosure on the anticipated financial effects, including disaggregation of monetary amounts by acute and chronic physical risk and location of significant assets at material physical risk, plus information on upstream value chain in E2-5. In addition, the relief is also applied to S1‑13 and S1‑15. For S1‑8, the relief defers the reporting obligation for non-EEA countries.

A list of sustainability information disclosed due to other regulations can be found in ESRS 2 Appendix B.

No exemptions have been applied based on Article 18, paragraph 1 of EU Directive 2013/34/EU. PUMA does not omit any information due to intellectual property concerns or due to special member state allowances.

T.14 ESRS index

Disclosure requirements	References
ESRS 2 General information
BP-1	General basis for preparation
BP-2	Disclosures in relation to specific circumstances
GOV-1	The role of the administrative, supervisory and management bodies
GOV-2	Sustainability matters addressed by the management and supervisory bodies
GOV-3	Integration of sustainability-related performance in incentive schemes
GOV-4	Statement on due diligence
GOV-5	Risk management and internal controls over sustainability reporting
SBM-1	Strategy, business model and value chain
SBM-2	Interests and views of stakeholders
SBM-3	Material impacts, risks, and opportunities and their interaction with business
IRO-1	Process to identify material impacts, risks, and opportunities
IRO-2	Material impacts, risks, and opportunities and their interaction with business
E1 Climate change
E1, GOV-3	Integration of sustainability-related performance in incentive schemes
E1, SBM-3	Material impacts, risks, and opportunities and their interaction with business
E1, IRO-1	Material climate-related impacts, risks, and opportunities
E1-1	Transition plan for climate change mitigation
E1-2	Policies related to climate change mitigation and adaptation
E1-3	Actions related to climate change
E1-4	Metrics and targets
E1-5	Energy consumption and mix
E1-6	Gross scopes 1, 2, 3 and total GHG emissions
E1-7	GHG removals and mitigation financed through carbon credits
E1-8	Internal carbon pricing
E2 Pollution
E2, SBM-3	Material impacts, risks, and opportunities and their interaction with business
E2, IRO-1	Material pollution-related impacts, risks, and opportunities
E2-1	Policies related to pollution
E2-2	Actions related to pollution
E2-3	Metrics and targets
E3 Water and marine resources
E3, SBM-3	Material impacts, risks, and opportunities and their interaction with business
E3, IRO-1	Material water-related impacts, risks, and opportunities
E3-1	Policies related to water and marine resources
E3-2	Actions related to water and marine resources
E3-3	Metrics and targets
E3-4	Water consumption
E4 Biodiversity and ecosystems
E4, SBM-3	Material impacts, risks, and opportunities and their interaction with business
E4, IRO-1	Material biodiversity-related impacts, risks, and opportunities
E4-1	Transition plan and consideration of biodiversity in strategy
E4-2	Policies related to biodiversity and ecosystems
E4-3	Actions related to biodiversity and ecosystems
E4-4	Metrics and targets
E5 Resource use and circular economy
E5, SBM-3	Material impacts, risks, and opportunities and their interaction with business
E5, IRO-1	Material resource use and circular economy-related impacts, risks, and opportunities
E5-1	Policies related to resource use and circular economy
E5-2	Actions related to resource use and circular economy
E5-3	Metrics and targets
E5-4	Resource inflows
E5-5	Resource outflows
S1 Own workforce
S1, SBM-2	Interests and views of stakeholders
S1, SBM-3	Material impacts, risks, and opportunities and their interaction with business
S1-1	Policies related to own workforce
S1-2	Engagement with own workforce about impacts
S1-3	Remediation of negative impacts and channels for concerns
S1-4	Actions related to own workforce
S1-5	Metrics and targets
S1-6	Characteristics of workforce
S1-9	Diversity metrics
S1-10	Adequate wages
S1-14	Occupational health and safety
S1-16	Compensation metrics (gender pay gap)
S1-17	Incidents, complaints and severe human rights impacts
S2 Workers in the value chain
S2, SBM-2	Interests and views of stakeholders
S2, SBM-3	Material impacts, risks, and opportunities and their interaction with business
S2-1	Policies related to value chain workers
S2-2	Engagement with value chain workers about impacts
S2-3	Remediation of negative impacts for value chain workers who raise concerns
S2-4	Actions on material impacts on value chain workers
S2-5	Metrics and targets
S4 Consumers and end-users
S4, SBM-2	Interests and views of stakeholders
S4, SBM-3	Material impacts, risks, and opportunities and their interaction with business
S4-1	Policies related to consumers and end-users
S4-2	Engagement with consumers and end-users about impacts
S4-3	Remediation of negative impacts for consumers who raise concerns
S4-4	Actions on material impacts on consumers
S4-5	Metrics and targets
G1 Business conduct
G1, SBM-3	Material impacts, risks, and opportunities and their interaction with business
G1, GOV-1	The role of the administrative, supervisory and management bodies
G1, IRO-1	Material business conduct-related impacts, risks, and opportunities
G1-1	Corporate culture and business conduct Policies
G1-2	Management of relationships with suppliers
G1-3	Prevention and detection of corruption and bribery
G1-4	Prevention and detection of corruption and bribery
G1-6	Payment practices

T.15 List of datapoints in cross-cutting and topical standards that derive from other EU legislation (ESRS 2 Appendix B)

ESRS Disclosure requirement and related datapoint	Related regulation	Materiality
ESRS 2 GOV-1 Board’s gender diversity paragraph (p.) 21 (d)	SFRD: Indicator number (no.) 13 of Table (T.) #1 of Annex (Anx) 1; Benchmark regulation (BR): (EU) 2020/1816, Anx II	Yes
ESRS 2 GOV-1 Percentage of board members who are independent p. 21 (e)	BR: Delegated Regulation (EU) 2020/1816, Anx II	Yes
ESRS 2 GOV-4 Statement on due diligence p. 30	SFRD: no. 10 T. #3 of Anx 1	Yes
ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities p. 40 (d) i	SFRD: no. 4 T. #1 of Anx 1; Pillar 3: Article 449a (EU) No 575/2013; (EU) 2022/2453 T. 1: Qualitative information on Environmental risk and T. 2: Qualitative information on Social risk; BR: (EU) 2020/1816, Anx II	No
ESRS 2 SBM-1 Involvement in activities related to chemical production p. 40 (d) ii	SFDR: no. 9 T. #2 of Anx 1; BR: (EU) 2020/1816, Anx II	No
ESRS 2 SBM-1 Involvement in activities related to controversial weapons p. 40 (d) iii	SFDR: no. 14 T. #1 of Anx 1; BR: (EU) 2020/1818, Article 12(1), (EU) 2020/1816, Anx II	No
ESRS 2 SBM-1 Involvement in activities related to cultivation and production of tobacco p. 40 (d) iv	BR: (EU) 2020/1818, Article 12(1), (EU) 2020/1816, Anx II	No
E1-1 Transition plan to reach climate neutrality by 2050 p. 14	EU Climate Law: (EU) 2021/1119, Article 2(1)	Yes
E1-1 Undertakings excluded from Paris-aligned benchmarks p. 16 (g)	Pillar 3: Article 449a; (EU) No 575/2013; (EU) 2022/2453 Temp. 1: Banking book-Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity; BR: (EU) 2020/1818, Article 12.1 (d)-(g), and Article 12.2	No
E1-4 GHG emission reduction targets p. 34	SFDR: no. 4 T. #2 of Anx 1; Pillar 3: Article 449a (EU) No 575/2013; (EU) 2022/2453 Temp. 3: Banking book-Climate change transition risk: alignment metrics #1; BR: (EU) 2020/1818, Article 6	Yes
E1-5 Energy consumption from fossil sources disaggregated by sources p. 38	SFDR: no. 5 T. #1 and no. 5 T. #2 of Anx 1	Yes
E1-5 Energy consumption and mix p. 37	SFDR: no. 5 T. #1 of Anx 1	Yes
E1-5 Energy intensity associated with activities in high climate impact sectors p. 40-43	SFDR: no. 6 T. #1 of Anx 1	Yes
E1-6 Gross Scope 1, 2, 3 and total GHG emissions p. 44	SFDR: no. 1 and 2 T. #1 of Anx 1; Pillar 3: Article 449a; (EU) No 575/2013; (EU) 2022/2453 Temp. 1: Banking book-Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity; BR: (EU) 2020/1818, Article 5(1), 6 and 8(1)	Yes
E1-6 Gross GHG emissions intensity p. 53-55	SFDR: no. 3 T. #1 of Anx 1; Pillar 3: Article 449a (EU) No 575/2013; (EU) 2022/2453 Temp. 3: Banking book-Climate change transition risk: alignment metrics; BR: (EU) 2020/1818, Article 8(1)	Yes
E1-7 GHG removals and carbon credits p. 56	EU Climate Law: (EU) 2021/1119, Article 2(1)	No

E1-9 Exposure of the benchmark portfolio to climate-related physical risks p. 66	BR: (EU) 2020/1818, Anx II, (EU) 2020/1816, Anx II	No
E1-9 Disaggregation of monetary amounts by acute and chronic physical risk p. 66 (a) and E1-9 Location of significant assets at material physical risk p. 66 (c)	Pillar 3: Article 449a (EU) No 575/2013; (EU) 2022/2453 p. 46 and 47; Temp. 5: Banking book-Climate change physical risk: Exposures subject to physical risk	Phase in provision used
E1-9 Breakdown of the carrying value of its real estate assets by energy-efficiency classes p. 67 (c)	Pillar 3: Article 449a (EU) No 575/2013; (EU) 2022/2453 p. 34; Temp. 2: Banking book-Climate change transition risk: Loans collateralised by immovable property-Energy efficiency of the collateral	No
E1-9 Degree of exposure of the portfolio to climate-related opportunities p. 69	BR: (EU) 2020/1818, Anx II	No
E2-4 Amount of each pollutant listed in Anx II of the E-PRTR Regulation emitted to air, water and soil, p. 28	SFDR: no. 8 T. #1 of Anx 1 no. 2 T. #2 of Anx 1, no. 1 T. #2 of Anx 1, no. 3 T. #2 of Anx 1	No
E3-1 Water and marine resources p. 9	SFDR: no. 7 T. #2 of Anx 1	Yes
E3-1 Dedicated policy p. 13	SFDR: no. 8 T. #2 of Anx 1	Not applicable
E3-1 Sustainable oceans and seas p. 14	SFDR: no. 12 T. #2 of Anx 1	No
E3-4 Total water recycled and reused p. 28 (c)	SFDR: no. 6.2 T. #2 of Anx 1	No
E3-4 Total water consumption in m3 per net revenue on own operations p. 29	SFDR: no. 6.1 T. #2 of Anx 1	No
ESRS 2-IRO-1 E4 p. 16 (a) i	SFRD: no. 7 T. #1 of Anx 1	Yes
ESRS 2-IRO-1 E4 p. 16 (b), (c)	SFDR: no. 10 T. #2 of Anx 1, no. 14 T. #2 of Anx 1	No
E4-2 Sustainable land/agriculture practices or policies p. 24 (b)	SFDR: no. 11 T. #2 of Anx 1	Yes
E4-2 Sustainable oceans/seas practices or policies p. 24 (c)	SFDR: no. 12 T. #2 of Anx 1	No
E4-2 Policies to address deforestation p. 24 (d)	SFDR: no. 15 T. #2 of Anx 1	Yes
E5-5 Non-recycled waste p. 37 (d)	SFDR: no. 13 T. #2 of Anx 1	Yes
E5-5 Hazardous waste and radioactive waste p. 39	SFDR: no. 9 T. #1 of Anx 1	No
ESRS 2-SBM 3-S1 Risk of incidents of forced labour p. 14 (f)	SFDR: no. 13 T. #3 of Anx I	No
ESRS 2-SBM 3-S1 Risk of incidents of child labour p. 14 (g)	SFDR: no. 12 T. #3 of Anx I	No
S1-1 Human rights policy commitments p. 20	SFDR: no. 9 T. #3 and no. 11 T. #1 of Anx I	Yes
S1-1 Due diligence policies on issues addressed by the fundamental ILO Conventions 1-8, p. 21	BR: (EU) 2020/1816, Anx II	Yes
S1-1 Processes and measures for preventing trafficking in human beings p. 22	SFDR: no. 11 T. #3 of Anx I	No
S1-1 Workplace accident prevention policy or management system p. 23	SFDR: no. 1 T. #3 of Anx I	Yes
S1-3 Grievance/complaints handling mechanisms p. 32 (c)	SFDR: no. 5 T. #3 of Anx I	Yes

S1-14 Number of fatalities and number and rate of work-related accidents p. 88 (b) and (c)	SFDR: no. 2 T. #3 of Anx I; BR: (EU) 2020/1816, Anx II	Yes
S1-14 Number of days lost to injuries, accidents, fatalities or illness p. 88 (e)	SFDR: no. 3 T. #3 of Anx I	Yes
S1-16 Unadjusted gender pay gap p. 97 (a)	SFDR: no. 12 T. #1 of Anx I; BR: (EU) 2020/1816, Anx II	Yes
S1-16 Excessive CEO pay ratio p. 97 (b)	SFDR: no. 8 T. #3 of Anx I	Yes
S1-17 Incidents of discrimination p. 103 (a)	SFDR: no. 7 T. #3 of Anx I	Yes
S1-17 Non-respect of UNGPs on Business and Human Rights and OECD p. 104 (a)	SFDR: no. 10 T. #1 and no. 14 T. #3 of Anx I; BR: (EU) 2020/1816, Anx II, (EU) 2020/1818, Art 12 (1)	Yes
ESRS 2-SBM 3-S2 Significant risk of child labour or forced labour in the value chain p. 11 (b)	SFDR: no. 12 and 13 T. #3 of Anx I	Yes
ESRS S2-1 Human rights policy commitments p. 17	SFDR: no. 9 T. #3 and no. 11 T. #1 of Anx 1	Yes
S2-1 Policies related to value chain workers p. 18	SFDR: no. 11 and 4 T. #3 of Anx 1	Yes
S2-1 Non-respect of UNGPs on Business and Human Rights principles and OECD guidelines p. 19	SFDR: no. 10 T. #1 of Anx 1; BR: (EU) 2020/1816, Anx II, (EU) 2020/1818, Art 12 (1)	Yes
S2-1 Due diligence policies on issues addressed by the fundamental ILO Conventions 1-8, p. 19	BR: (EU) 2020/1816, Anx II	Yes
S2-4 Human rights issues and incidents connected to its upstream and downstream value chain p. 36	SFDR: no. 14 T. #3 of Anx 1	Yes
S3-1 Human rights policy commitments p. 16	SFDR: no. 9 T. #3 and no. 11 T. #1 of Anx 1	No
S3-1 Non-respect of UNGPs on Business and Human Rights, ILO principles or and OECD guidelines p. 17	SFDR: no. 10 T. #1 of Anx 1; BR: (EU) 2020/1816, Anx II, (EU) 2020/1818, Art 12 (1)	No
S3-4 Human rights issues and incidents p. 36	SFDR: no. 14 T. #3 of Anx 1	No
S4-1 Policies related to consumers and end-users p. 16	SFDR: no. 9 T. #3 and no. 11 T. #1 of Anx 1	Yes
S4-1 Non-respect of UNGPs on Business and Human Rights and OECD guidelines p. 17	SFDR: no. 10 T. #1 of Anx 1; BR: (EU) 2020/1816, Anx II, (EU) 2020/1818, Art 12 (1)	Yes
S4-4 Human rights issues and incidents p. 35	SFDR: no. 14 T. #3 of Anx 1	Yes
G1-1 UN Convention against Corruption p. 10 (b)	SFDR: no. 15 T. #3 of Anx 1	Yes
G1-1 Protection of whistleblowers p. 10 (d)	SFDR: no. 6 T. #3 of Anx 1	Yes
G1-4 Fines for violation of anti-corruption and anti-bribery laws p. 24 (a)	SFDR: no. 17 T. #3 of Anx 1; BR: (EU) 2020/1816, Anx II	Yes
G1-4 Standards of anti-corruption and anti-bribery p. 24 (b)	SFDR: no. 16 T. #3 of Anx 1	Yes

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Basis for preparation