2024/2025 SUSTAINABILITY IN ACTION

GOOD GOVERNANCE, RESPONSIBILITY AND INTEGRITY:

BOARD OF DIRECTORS, SHAREHOLDERS AND MANAGEMENT

GOOD GOVERNANCE FOLLOWING ESG CRITERIA

Metro Ligero Oeste works continuously to consolidate the project’s strength and soundness, taking advantage of the opportunities in the area and promoting sustainable growth that enables us to anticipate change, innovate, and maximize the value generated for the organisation as a whole.

At the same time, we maintain a rigorous approach in the management of operational and business risks, by implementing mechanisms that allow us to identify, evaluate and mitigate potential threats, thus ensuring the continuity and resilience of our activities.

We recognise that our evolution depends on open and constructive dialogue with our environment. Therefore, we actively promote communication with stakeholders, fostering trust-based relationships, active listening and permanent collaboration.

4.1 GOOD GOVERNANCE PRACTICES

Metro Ligero Oeste maintains a firm commitment to good corporate governance and internal management practices. Thus, we implement the monitoring and systematic analysis of key performance indicators (KPIs) to optimize the reporting mechanisms intended for the General Management, the Board of Directors and shareholders. This way, we ensure the availability of accurate and timely information that facilitates responsible, transparent and data-driven decision-making.

We also work continuously to strengthen our internal capabilities focused on operational excellence, promoting the standardization of procedures and the on-going improvement of internal control systems. This approach is supported by a systematic process of key performance indicator monitoring, which makes it possible to evaluate organisational performance, anticipate needs and ensure alignment with strategic objectives.

Furthermore, MLO began to participate in the GRESB sustainability assessment (Global Real Estate Sustainability Benchmark) in 2018, to compare its sustainability performance with that of other companies, reinforcing transparency and adopting best practices in governance and asset management. This decision responded to a strategic vision aimed at evolving toward a more structured, measurable sustainability model integrated into decision-making.

Over time, participation in GRESB evolved from an annual reporting exercise to a planning and governance tool, integrating its results into management cycles for KPI definition and the planning for capital expenditure and maintenance.

According to the 2025 GRESB Index, MLO was one of the urban transport companies that excelled in sustainability, both in terms of management and transparency, attaining 100 points and 5 stars in this index, the highest possible ratings.

We turned our governance model into a competitive advantage, positioning ourselves as the most sustainable urban transport company in the world after reaching the top position in the GRESB 2025 index (100 points and 5 stars), and thus consolidating a management model based on anticipation, transparency and informed decision-making.

STRATEGIC ACTIONS AND HIGHLIGHTS 2024/2025
CHALLENGES FOR THE FUTURE

4.2 ETHICS AND INTEGRITY IN BUSINESS ACTIVITIES

Metro Ligero Oeste continues to advance our commitment to ethics and integrity by updating our governance policy, including a new line of action regarding the Whistleblowing Policy, focusing on the internal information system so that employees and citizens can report irregularities, illegal or unethical and dangerous practices, promoting transparency and regulatory compliance.

This system is based on secure communication channels that guarantee confidentiality, investigative procedures conducted by impartial personnel with a commitment to responding and protecting the complainant against possible retaliation.

In January 2025, Metro Ligero Oeste updated and formalized the Protocol for Prevention and Response to Situations of Harassment as a standalone document. It was previously included in the Code of Ethics.

This protocol reinforces the values, principles and behavioural guidelines that should govern the professional behaviour of everyone in the organisation, guaranteeing respect for human and labour rights and promoting an inclusive and safe environment.

Likewise, Metro Ligero Oeste reaffirmed its commitment to the ten principles of the United Nations Global Compact on human and labour rights, environmental protection and the fight against corruption.

MLO has a human rights policy for its own workers.

MLO has a code of conduct covering child labour, forced labour, discrimination and accident prevention.

MLO has a complaint processing mechanism for its own workers.

MLO has no confirmed incidents in its own workforce related to child labour, forced labour, human trafficking, discrimination or others.

In the absence of any incidents, no action has been necessary.

During the period explored in this report, there were no incidents of corruption recorded.

STRATEGIC ACTIONS AND HIGHLIGHTS 2024/2025

We reinforced our ethical and compliance system to guarantee a comprehensive, safe and coherent operation, consolidating a culture based on responsibility, transparency and respect for people.

OTHER INITIATIVES
CHALLENGES FOR THE FUTURE

4.3 PROJECT STRENGTH AND SOUNDNESS AND MAKING THE MOST OF OPPORTUNITIES

Metro Ligero Oeste focuses its strategy on the consolidation of a solid and sustainable project, relying on its internal strengths and its ability to identify opportunities in the area and a close relationship with its stakeholders.

Context analysis confirms the organisation’s ability to generate social value, promote responsible practices and contribute positively to the area.

At the same time, MLO reinforces its business model by actively managing its weaknesses and threats, through investments, operational improvements and risk management plans, measures that significantly increase the project’s resilience.

We consolidate a solid and resilient economic model that allows us to sustain the service, invest in its constant improvement, and adapt to an increasingly demanding environment with solvency.

FISCAL APPROACH

The Board of Directors is the governing body responsible for reviewing and approving the tax strategy, while the Financial Management leads its implementation through control systems and prevention of fiscal risks. Our commitment is a strict compliance with current tax regulations.

CHALLENGES FOR THE FUTURE
STRATEGIC ACTIONS AND HIGHLIGHTS 2024/2025
OTHER INITIATIVES

4.4 MANAGEMENT OF OPERATIONAL AND BUSINESS RISKS

Business and operational risk management is a central element of MLO’s corporate strategy. This approach integrates systematic methodologies for identifying, evaluating, controlling and monitoring risks that can affect both internal processes and business development and competitiveness.

In the operational field, we implemented standardized procedures, monitoring tools and continuous verification mechanisms that make it possible to minimize the risks associated with processes, technology, people, suppliers and the regulatory environment. Additionally, we do regular reviews of critical procedures, incident analysis and preventive controls that strengthen operational reliability and contingency response capacity.

At the same time, business risk management focuses on anticipating and mitigating impacts derived from changes in the economic, regulatory, competitive or technological environment. MLO analyses different strategic scenarios that allow us to evaluate market trends, identify emerging threats and define action plans aimed at preserving competitiveness and value creation.

We evolve risk management toward a more predictive and digital approach, reinforcing cybersecurity and organisational readiness to ensure service continuity and reliability in the event of unforeseen events.

In 2025 we did a methodical risk analysis in the field of cybersecurity that made it possible to identify relevant assets, their interrelation and their value, as well as which threats they are exposed to and what safeguards are available, plus their effectiveness in the face of risk. This way we can estimate the impact and risk, to organise a conscientious and prudent defence.

Another key part of the risk management process is training. In 2025 we launched an awareness and training program for our workers as the first line of defence against possible cyber attacks. The human factor has a significant impact on cyber security incidents, responsible for approximately 95% of security breaches due to errors such as phishing, weak passwords, and lack of training.

The result of the process was as follows:
STRATEGIC ACTIONS AND HIGHLIGHTS 2024/2025
CHALLENGES FOR THE FUTURE

We promote more accessible and transparent communication to strengthen the relationship with our stakeholders and reinforce long-term trust in the project.

4.5 PROMOTING STAKEHOLDER DIALOGUE AND COMMUNICATION

The organisation promotes transparent, clear and coherent communication, integrating the inputs received into its planning and evaluation processes. Listening systematically to employees, users, suppliers, administrations and investors helps to strengthen trust and consolidate stable relationships in the long term.

We are committed to the veracity, integrity and traceability of the information disseminated. The data and results reported are based on internal control and monitoring systems, avoiding significant omissions or messages that may be misleading. This commitment strengthens the report’s credibility and ensures that stakeholders have rigorous and comparable information to assess our economic, social and environmental performance.

During the period covered by the report, we did not receive any substantiated claims concerning breaches of customer privacy or loss of customer data.

STRATEGIC ACTIONS AND HIGHLIGHTS 2024/2025
OTHER INITIATIVES
CHALLENGES FOR THE FUTURE