About this Report

Reporting Principles

GRI 2-1, 2-2, 2-3

This Sustainability Report (“this Report”) is Expert RA’s second public non-financial report for 2024. It describes our key sustainability management practices and our performance in the period from 1 January to 31 December 2024, as well as our plans for the future. This Report has been published in both Russian and English.

This Report contains information about the Agency’s plans, progress made, and its philosophy in the area of corporate social responsibility and sustainable development.

During the reporting period, the approach to calculating a number of sustainable development indicators changed. The retrospective data in the Report have been adjusted accordingly.

This Report covers the activities of Expert RA JSC (“Expert RA”, “the Agency”).

Standards and recommendations

GRI 1

The following standards were used in preparing this Report:

Global Reporting Initiative (GRI): GRI Universal Standards 2021
Standards developed by the Sustainability Accounting Standards Board (SASB Standards): SASB Professional & Commercial Services Standard
Information letter of the Bank of Russia No. IN-06-28/49 On recommendations for disclosure by public joint-stock companies of non-financial information related to the activities of such companies dated 12 July 2021
Order of the Ministry of Economic Development of the Russian Federation No. 764 On approval of methodological recommendations for the preparation of sustainable development reports dated 1 November 2023

Точность — Foundation in the preparation of this Report

The preparation of this Report, the identification of material topics and content, and the Report concurrent review involved the members of the Centre for the Development of the Sustainability Management System (“the ESG Centre”). Information contained in this Report has been confirmed by the heads of relevant departments. This Report has been reviewed and approved by the Agency’s Strategy and Sustainability Committee and adopted by the Board of Directors (BoD).

Process of Identifying Material Topics

GRI 3-1, 3-2

The identification of material topics is a necessary part of the process of preparing non-financial reporting in accordance with the GRI standards. The purpose of this exercise is to study and identify the economic, environmental and social topics that are most important in terms of impact of the Agency's activities on its stakeholders.

In 2025, the ESG Centre identified the material topics using a three-step procedure.

Process to determine material topics

Step 1. Identification	Analysis of the Agency’s current position in ESG agenda Analysis of open information sources: industry trends and risks, research, media reports Analysis of the list of material topics disclosed in the 2023 Report Consulting with the members of the ESG Centre Identification of current and potential impacts of the Agency’s activities
Outcome	Preliminary list of material topics
Step 2. Setting of priorities	Online survey of stakeholdersExpert RA defines its stakeholders as its employees and its customers (entities assigned all types of Expert RA ratings in accordance with approved methodologies), the members of its Board of Directors and senior management, including the members of its Management Board. The Agency posted a questionnaire on its corporate website and collected the feedback in February-March 2025. The questionnaire could be filled in by any stakeholder besides those listed above. (members of the BoD, Management Board, ESG Centre, the Agency employees and customers). Respondents were asked to rank different topics, from strong to weak, according to the impact strength. 67 respondents (10 external stakeholders and 57 internal stakeholders) took part in the survey. Respondents were asked to evaluate the proposed impacts on a five-point scale and/or propose their own options for impacts. Setting of priorities in the preliminary list of material topics, considering the online survey results
Outcome	Adjusted list of material topics
Step 3. Approval	Consideration and approval of the final list of material topics by the ESG Centre
Outcome	Final list of material topics

Material Topics

As a result of the assessment, Expert RA compiled a list of 14 significant topics.

Responsible business	Employees	Affected stakeholders
Priority 1
Qualitative information about the issuance of independent ratings, assessments and opinions Personal data security	Decent work environment, skill development, staff retention Promotion of equal opportunity and non-discrimination	Promotion of the development of the responsible finance and ESG rating market
Priority 2
Collaboration with suppliers to create a responsible supply chain	Minimisation of greenhouse gas emissions from the operating activities of Expert RA Promoting sustainable practices among employee Compliance with occupational health and safety principles regarding employees	Investments in charitable projects and volunteer activities Raising public financial literacy Assistance to small, medium-sized and large organisations in gaining access to funds Raising the sustainable development awareness Assistance in market infrastructure development to facilitate the increase in individual and collective investors
Priority 3
	Minimisation of water consumption within the framework of the operating activities of Expert RA Minimisation of waste generation volumes from the operating activities of Expert RA

Changes in Material Topics

GRI 2-4

Compared to the previous period, the list of material topics included new topics:

Collaboration with suppliers to create a responsible supply chain
Minimisation of greenhouse gas emissions from the operating activities of Expert RA
Promoting sustainable practices among employee;
сompliance with occupational health and safety principles regarding employees
Investments in charitable projects and volunteer activities

As part of the online survey, the topic of Minimisation of greenhouse gas emissions from the operating activities of Expert RA was assigned to priority 3, but by the decision of the Working Group, its priority was increased, since this topic is material regardless of the nature and scale of the Agency's activities.

In addition, compared to the Report for 2023, some topics were reformulated so that they were interconnected with the areas and aspects of the Sustainable Development Programme of Expert RA JSC for 2025–2026.

Material topics and their connection with disclosed standards

№	Topic	Affected stakeholders	Standards (GRI, SASB)GRI – red, SASB – grey.
1	Qualitative information about the issuance of independent ratings, assessments and opinions	Customers, the government, investors and other counterparties of the customers	GRI-203: Indirect economic impacts 2016 GRI 205: Anti-corruption 2016 SV-PS-510a.1
2	Promotion of the development of the responsible finance and ESG rating market	Customers, the government, investorsInvestors active in the Russian financial market. and financial market infrastructure participants, mass media	GRI-203: Indirect economic impacts 2016
3	Personal data security	Customers, employees	GRI 418: Customer Priva-cy2016 SV-PS-230a.1 SV-PS-230a.2 SV-PS-230a.3
4	Decent work environment, skill development, staff retention	Employees	GRI 401: Employment 2016 GRI 402: Labor/Management Relations 2016 GRI 404: Training and Education 2016 SV-PS-330a.1 SV-PS-330a.2
5	Promotion of equal opportunity and non-discrimination	Employees	GRI 405: Diversity and Equal Opportunity2016 GRI 406: Non-discrimination 2016 GRI 408: Child Labor 2016 GRI 409: Forced or Compulsory Labour 2016
6	Raising sustainable development awareness	InvestorsInvestors active in the Russian financial market., employees, the government, customers	GRI-203: Indirect economic impacts 2016
7	Raising public financial literacy	InvestorsInvestors active in the Russian financial market.	GRI-203: Indirect economic impacts 2016
8	Assistance to small, medium-sized and large organisations in gaining access to funds	Customers, investorsInvestors active in the Russian financial market.	GRI-203: Indirect economic impacts 2016
9	Collaboration with suppliers to create a responsible supply chain	Suppliers	GRI 204. Procurement Practices 2016
10	Assistance in market infrastructure development to facilitate the increase in individual and collective investors	InvestorsInvestors active in the Russian financial market., financial market infrastructure participants	GRI-203: Indirect economic impacts 2016
11	Minimisation of greenhouse gas emissions from the operating activities of Expert RA	InvestorsInvestors active in the Russian financial market., employees, the government, customers	GRI 305. Emissions 2016
12	Promoting sustainable practices among employee	Employees	–
13	Compliance with occupational health and safety principles re-garding employees	Employees	GRI 403: Occupational Health and Safety 2018
14	Investments in charitable projects and volunteer activities	Customers, investorsInvestors active in the Russian financial market., financial market infrastructure participants, employees	GRI-203: Indirect economic impacts 2016

External Assurance

GRI 2-5

The list of selected non-financial indicators of the Report has been verified by the audit organisation in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (revised) Assurance Engagements Other than Audits and Reviews of Historical Financial Information, limited assurance level. The verified indicators are highlighted with a special sign &. The Independent practitioner’s report is provided in the following appendix.