Contents
Page
Report of the Board of Directors 3 - 8
Sustainability statement 9 - 68
Key figures 69 - 71
Consolidated financial statements (IFRS) 72 - 103
Parent company financial statements (FAS) 104 - 113
Signatures to the Financial Statements and Report of the Board of Directors 114 - 115
Auditor’s Reports 116 - 123
Non-official version and translation.
These financial statements must be stored for at least ten years from the end of the financial year, or until 31 December 2035.
The vouchers for the financial year must be stored for at least six years after the end of the year during which the financial year
ended, or until 31 December 2031.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 3
Report of the Board of Directors
Market review
Eezy’s business consists of a range of workplace services: staffing services, employment, research and recruitment services,
management and employee experience development, corporate culture design and light entrepreneurship services. Due to the
working life megatrends and the increased need for flexible workforce we believe in the growth potential of the market during the
strategy period.
In Finland, the share of flexible forms of working in relation to all work remains significantly lower than in comparable European
countries (Euromonitor). Management believes that the market will continue its structural growth as flexible forms of working
become more common.
According to an estimate by the company, the size of the entire HR services market in Finland was approx. EUR 3.1 billion in
2025, of which the staffing services were approx. EUR 2.6 billion. The market size of the relevant recruitment services was
approx. EUR 110 million according to an estimate by the company. The invoicing volume of light entrepreneurship services
market has been estimated to be approx. EUR 600 million and revenue to be approx. EUR 30 million. Market for employment
services is estimated to be EUR 150 million. Employee experience surveys and consulting services markets are approx. EUR
120-140 million.
The economic cycle continued to be challenging, which affected largely the demand of Eezy’s services. According to the
Employment Industry Finland (HELA) association, the revenue of the 20 largest companies in the staffing service market
decreased 8 % in January–December compared to last year. According to HELA, the economic situation in HR services was still
in decline, but the economic outlook reflects cautious hope for the better. The relevant recruitment services market has
experienced a steep decline due to difficult economic cycle. According to HELA, the revenue decreased 18 % in January-
December compared to previous year.
Revenue & business development
Eezy’s group revenue amounted to EUR 139.3 million (174.1), decreasing by 20% compared to the corresponding period in the
previous year. The decline in revenue was due to transferring offices to franchisee entrepreneur network and partial customer
transfers in the retail sector at the beginning of June. On the other hand, these transfers increased the franchise fees. The
chain-wide revenue in staffing services decreased by 9%, which is slightly weaker compared to the HELA market statistic, which
decreased 8%.
The demand in staffing services industry and construction sectors has remained subdued throughout the year. Also the demand
in retail and horeca-sectors has been lower due to weakened consumer demand. In the capital area our performance was
modestly better than the market and other areas.
In the Professional services the decrease in revenue was due to changes in employment services as a result of TE services
reform in municipal sector. The subdued demand of direct search and consulting services in a challenging economic cycle
affected in decreased revenue compared to corresponding period.
Eezy’s chain-wide revenue amounted to EUR 233.8 million (257.4) decreasing by 9%. Franchise fees totaled EUR 6.0 million
(5.1). The invoicing volume of light entrepreneurship services was EUR 34.3 million (34.7).
Revenue by service area
EUR million
1–12/2025
1–12/2024
Change %
Staffing services
115.7
145.5
-21 %
Professional services
24.0
29.0
-17 %
Common functions and eliminations
-0.3
-0.5
-
Total
139.3
174.1
-20 %
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 4
Result
EBITDA was EUR 9.0 million (10.3). In addition to the decrease in revenue, the result is particularly affected by the decrease in
the share of industry and construction sectors in the staffing services, which has weakened profitability. On the other hand, the
profitability was improved by the lower personnel expenses of group employees and other operating expenses in accordance
with the performance improvement program. EBITDA included EUR 1.2 million (0.9) in personnel expenses related to severance
payments and other one-time costs EUR 0.7 million (0.5).
Operating profit was EUR 0.2 million (2.3). Total depreciation, amortization and impairment was EUR 8.9 million (7.9), of which
EUR 4.1 million (3.2) was acquisition related amortization and impairment. Operating profit included EUR 1.4 million (0.9)
impairment related to the non-current assets.
The result before taxes was EUR -3.4 million (-0.4) and the result for the period was EUR -2.2 million (-0.2). Earnings per share
was EUR -0.09 (-0.01).
Financial position and cash flow
Eezy's consolidated balance sheet on 31 December 2025 amounted to EUR 188.5 million (194.8), of which equity made up
EUR 106.1 million (108.6).
As of 31 December 2025, the Group has liabilities to credit institutions amounting to EUR 46.4 million (48.6), of which EUR 43.9
million (45.0) was non-current. The company fulfilled the covenant terms as of 31 December 2025. The company has estimated
to fulfill the covenant terms in the current loan agreement within the next 12 months. Liabilities to credit institutions (EUR 46.4
million) are subject to covenant terms, which are quarterly ratio of interest-bearing net debt compared to adjusted EBITDA and
monthly the minimum cash balance.
Cash balance on 31 December 2025 was EUR 4.1 million (1.6). The Group has overdraft facilities in total of EUR 10.0 million,
all of which were unused on 31 December 2025.
Equity ratio stood at 56.3% (55.8%). The Group’s net debt including IFRS16 leasing items on 31 December 2025 amounted to
EUR 46.2 million (52.7). Net debt excluding IFRS 16 leasing items was EUR 42.4 million (47.1). The net debt/EBITDA ratio was
5.1 x (5.1 x).
Operative free cash flow amounted to EUR 8.9 million (7.5) in January–December.
Investments
Investments in tangible and intangible assets totaled EUR 4.5 million (3.2) in January–December. Investments were mainly
related to IT investments.
Employees
Eezy’ s personnel consist of employees in Group functions and staffed employees assigned to customer companies. Eezy
employed average of 354 (452) in January–December people in Group functions and on average 2 033 (2 499) in January–
December staffed employees on FTE basis.
Due to the nature of the staffing service business, Eezy’s total number of personnel employed is higher than the number of
personnel employed on average. In the calculation of the average number of staffed employees, the work input of the
employees has been converted into person-years. The users of light entrepreneurship services are not included in the Group’s
personnel numbers.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 5
Changes in management
Eezy Plc has made changes to its Group Management Team to improve profitability and strengthen the foundations for
business growth. The new organization took effect on 1 July 2025.
Jaakko Koivisto was appointed to Business Director, Staffing Services Helsinki & Tampere and a member of the group’s
management team. Markus Muurinen was appointed to Business Director, Staffing Services Turku & Seinäjoki and a member of
the group’s management team. Markus Jussila was appointed Business Director, Franchising network and Professional
Services business areas.
On 7 January 2026 Director, Business Solutions Päivi Salo has resigned. Salo will step down from the management team on
28th February 2026, and her responsibilities have been divided within the group.
On 3 October 2025 Esko Puolusmäki was appointed as Chief Financial Officer and member of the group's management Team.
He started in his position on January 4, 2026.
On 2 October 2025 Heikki Tyrväinen was appointed as Business and Sales Director, Franchise Entrepreneur Network and
National Customers and a member of the group’s management team. He started in his position on October 6, 2025. Markus
Jussila will focus on Professional services management and will continue as a member of the group’s management team.
On 11 September 2025 Chief Communication and Sustainability Officer Marleena Bask resigned. Laura Kauppinen, Chief HR
and Development Officer responsibility for communication- and sustainability.
On 13 June 2025 Chief Business Officer Mia Lindström resigned. Markus Jussila, Chief Commercial Officer, took responsibility
for the growth business.
On 5 June 2025 HR Officer Minna Gentz resigned. Laura Kauppinen, Chief Development Officer, took responsibility as HR
Officer.
On 16 May 2025 Laura Kauppinen was appointed Chief Development Officer and a member of the group’s management team.
On 2 May 2025 CFO Joni Aaltonen resigned. Sari Lehto started as Acting CFO and a member of the group’s management team
on 12 May 2025.
On 2 April 2025 CEO Siina Saksi resigned. Johan Westermarck, appointed as new CEO, started on 15 May 2025.
On 31 December 2025 the management team included:
• Johan Westermarck, CEO
• Jaakko Koivisto, Business Director, Staffing services, Helsinki & Tampere
• Markus Muurinen, Business Director, Staffing services, Turku & Seinäjoki
• Markus Jussila, Chief Business Officer, Professional Services
• Heikki Tyrväinen, Business and Sales Director, Franchise Entrepreneur Network and National Customers
• Laura Kauppinen, Chief Corporate Officer
• Sari Lehto, CFO (acting)
• Päivi Salo, Director, Business Solutions
Shares and shareholders
On 31 December 2025, Eezy Plc had 25 046 815 (25 046 815) registered shares. The company holds no treasury shares. The
company had 3 586 (3 248) shareholders, including nominee registered shareholders.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 6
In January–December 2025, a total of 6 672 658 (9 556 315) shares were traded, and the total trading volume was EUR 5.4
million (13.2). During this period, the highest quotation was EUR 1.30 (1.76) and the lowest EUR 0.60 (1.04). The volume-
weighted average price of the share was EUR 0.81 (1.39). The closing price of the share at the end of December was EUR 0.75
(1.12) and the market value stood at EUR 18.8 million (28.1).
On 31 December 2025, the members of the Board of Directors and the members of the management team owned a total of
2 468 819 (2 488 803) Eezy shares, corresponding to approximately 9.9% (9.9%) of shares and of the votes to which they
entitle. The share numbers include the direct holdings of the persons in question and their controlled companies. In addition,
Board members are employed in managerial duties by significant shareholders.
On 5 May 2025, the company received flagging notices: The ownership of OP-rahastoyhtiö Oy decreased below 5 %.
Ten largest shareholders as of 31 December 2025:
Shareholder
Shares
%
1. Sentica Buyout V Ky
7 065 658
28.21
2. Meissa-Capital Oy
3 223 071
12.87
3. Evli Suomi Small Cap fund
1 585 592
6.33
4. SVP-Invest Oy
1 500 000
5.99
5. Op-Suomi Small Cap fund
1 091 251
4.36
6. WestStar Oy
490 464
1.96
7. Oy Jobinvest Ltd
365 877
1.46
8. Kirkon Eläkerahasto
350 000
1.40
9. Tapio Pajuharju
333 942
1.33
10. Notacon Oy
331 353
1.32
10 largest in total
16 337 208
65.23
Nominee-registered
963 027
3.84
Others
7 746 580
30.93
Total
25 046 815
100.00
Governance
The Corporate Governance Statement and the Remuneration Report are issued separately from the Report of the Board of
Directors, and the documents are available at the company’s website.
Annual General Meeting
The Annual General Meeting (AGM) was held on 8 April 2025.
The financial statements and consolidated financial statements for the financial year 2024 were adopted. The members of the
board of directors and the CEOs were discharged from liability for financial year 2024. The remuneration report for governing
bodies were approved.
The AGM decided that no dividend is paid based on the balance sheet adopted for the financial year 2024.
Seven members were elected to the board of directors. Tapio Pajuharju, Kati Hagros, Tomi Laaksola, Maria Pajamo, Paul-
Petteri Savolainen, Mika Uotila and Mikko Wirén were re-elected as members of the board of directors.
The members of the board of directors will be paid monthly remuneration EUR 5 000 per month for the chairperson of the board
and EUR 2 500 per month for all other members of the board each. In addition, for members of the board of directors’
committees will be paid a meeting fee of EUR 300 for each committee meeting.
The AGM re-elected the company’s current auditor, KPMG Oy Ab, which has stated that Niklas Oikia, APA, will act as the
responsible auditor. KPMG Oy Ab as the auditor of the company will also carry out the assurance of the company’s
sustainability reporting for the financial year 2025.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 7
In a formation meeting of the board, held after the AGM, Tapio Pajuharju was elected to continue as the chairman. Mika Uotila
(chair), Kati Hagros and Paul Savolainen will be the Audit committee. Maria Pajamo (chair), Tapio Pajuharju and Mikko Wirén
will be the Sustainability and HR Committee.
Valid authorizations
The authorisations given by the AGM on 8 April 2025 are described in detail in the stock exchange release about the AGM's
decisions.
The AGM authorised the board of directors to decide on the repurchase of the company’s own shares using the company’s
unrestricted equity. The total maximum number of shares to be repurchased under the authorisation shall be 2 500 000 shares.
The authorisation is valid until the end of the annual general meeting of 2026, however, for a maximum of 18 months. The
authorization is unused.
The AGM authorised the board of directors to decide, in one or more tranches, on the issuance of shares as well as on the
issuance of option rights and other special rights entitling to shares as referred to in chapter 10(1) of the Finnish Limited Liability
Companies Act. The total maximum number of shares to be issued under the authorisation shall be 2 500 000 shares. The
authorisation is valid until the end of the annual general meeting of 2026, however, for a maximum of 18 months. The
authorization is unused.
Long-term incentive plan
In December 2024, Eezy Plc’s board of directors decided on the fifth earning period of the share-based incentive plan for the
company’s key employees. The fifth earning period is 24 months, started on 1 January 2025 and ending on 31 December 2026.
The reward criteria for the fifth earning period are based on Eezy Plc’s total shareholder return, operating profit percent and an
ESG component. A maximum of 256 000 reward shares could be awarded for the fifth earning period.
Strategy and long-term financial targets
In December 2025, the Board of Directors of Eezy Plc approved the company's updated strategy and long-term financial targets
for 2026–2028. In its updated strategy, the company aims to achieve a chain-wide revenue of more than 330 million euros, a
group revenue of more than 200 million euros, and an EBIT of more than 5% of group revenue in 2028. Eezy seeks profitable
growth by focusing on its core business of staffing and recruitment services and related business operations. Eezy will focus
particularly on services that enable it to meet the changing staffing requirements of its client companies nationwide. Eezy
provides services through its group companies as well as a strong network of entrepreneurs. In addition, Eezy's service portfolio
includes professional services that support its core business and generate added value for the customers. A more detailed
description of the current strategy and long-term goals can be found on the company’s website.
Performance improvement programme
In April 2025, Eezy launched the third phase of the performance improvement programme, which aimed to review the
performance of the different businesses as well as the organisation and management models of the company as a whole. The
objective of the performance improvement programme was an EUR 4 million profitability improvement. The measures started to
have an impact in the second half of 2025. As part of the program, approximately 45 employment relationships terminated, and
also made decisions on annual savings of more than EUR 1 million in other fixed costs.
Risks and uncertainties
Eezy’s risk management principles are based on the Finnish Corporate Governance Code for Listed Companies. The objective
of risk management is to ensure that the group’s targets are reached and to safeguard the continuity of operations. The risks
affecting Eezy's operations are assessed annually. The latest risk assessment was carried out in June 2025. There were no
major changes in the identified risks.
Poor economic development in Finland may have an adverse impact on Eezy’s business and result. In economic downturn it is
possible that companies use less staffing services and other HR services offered by Eezy. It may be challenging for the
company to meet the terms of its financing agreements if its revenue and EBITDA decline in a subdued market situation, or if its
business grows rapidly and ties up more working capital.
Other material risks identified for Eezy's operations are: motivation and commitment of personnel, insufficient investment in
technological development and harmonization of operational models and supplier dependence. If there is insufficient investment
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 8
in technological development and harmonization and implementation of a new digital operational model and other processes,
this may lead to inefficiencies and weakened customer satisfaction.
More information about risk management is available on the company website.
Guidance for 2026
Eezy does not give guidance for 2026.
Dividend proposal
The parent company’s distributable funds in the financial statement on 31 December 2025 was EUR 122.3 million, of which loss
for the financial period was EUR 1.0 million. Board of Directors proposes that no dividend will be distributed for the year 2025.
Events after the balance sheet date
On 7 January 2026 Director, Business Solutions Päivi Salo has resigned. Salo will step down from the management team on
28
th
February 2026, and her responsibilities have been divided within the group.
Helsinki, 10 February 2026
Eezy Plc
Board of Directors
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 9
Contents
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 10
Contents
General information .................................................................................................................................................................. 11
ESRS 2 General disclosures ....................................................................................................................................................... 11
BP-1 General basis for preparation of sustainability statements ................................................................................. 11
BP-2 Disclosures in relation to specific circumstances ............................................................................................... 11
GOV-1 The role of the administrative, management and supervisory bodies .............................................................. 11
GOV-2 Information provided to, and sustainability matters addressed by the undertaking’s administrative,
management and supervisory bodies ......................................................................................................................... 15
GOV-3 Integration of sustainability-related performance in incentive schemes ........................................................... 15
GOV-4 Statement on due diligence ............................................................................................................................ 17
GOV-5 Risk management and internal controls over sustainability reporting .............................................................. 17
SBM-1 Strategy, business model and value chain ...................................................................................................... 18
SBM-2 Interests and views of stakeholders ................................................................................................................ 19
SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model ................... 21
IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities ......................... 22
IRO-2 Disclosure requirements in ESRS covered by the undertaking’s sustainability statement ................................ 24
Environmental information ....................................................................................................................................................... 26
Information in accordance with the EU Taxonomy Regulation (EU 2020/852 article 8)..................................... 26
Social information ..................................................................................................................................................................... 31
ESRS S1 Own workforce ............................................................................................................................................................ 31
ESRS 2 SBM-2 Interests and views of stakeholders .................................................................................................. 31
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model ...... 31
S1-1 Policies related to own workforce ...................................................................................................................... 33
S1-2 Processes for engaging with own workforce and workers’ representatives about impacts.................................. 36
S1-3 Processes to remediate negative impacts and channels for own workforce to raise concerns ........................... 37
S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing
material opportunities related to own workforce, and effectiveness of those actions ................................................... 38
S1-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks
and opportunities ....................................................................................................................................................... 43
S1-6 Characteristics of the undertaking’s employees ................................................................................................. 45
S1-8 Collective bargaining coverage and social dialogue ........................................................................................... 47
S1-9 Diversity metrics ................................................................................................................................................ 47
S1-10 Adequate wages .............................................................................................................................................. 48
S1-11 Social protection .............................................................................................................................................. 48
S1-13 Training and skills development metrics........................................................................................................... 48
S1-14 Health and safety metrics ................................................................................................................................ 49
S1-15 Work-life balance metrics ................................................................................................................................ 49
S1-16 Compensation metrics (pay gap and total compensation) ................................................................................ 50
S1-17 Incidents, complaints and severe human rights impacts .................................................................................. 50
ESRS S3 Affected communities .................................................................................................................................................. 51
Entity-specific information: employment ...................................................................................................................................... 51
ESRS 2 SBM-2 Interests and views of stakeholders .................................................................................................. 51
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model ...... 51
S3-1 Policies related to affected communities ............................................................................................................ 52
S3-2 Processes for engaging with affected communities about impacts ..................................................................... 52
S3-3 Processes to remediate negative impacts and channels for affected communities to raise concerns ................. 53
S3-4 Taking action on material impacts on affected communities, and approaches to managing material risks and
pursuing material opportunities related to affected communities, and effectiveness of those actions .......................... 53
S3-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks
and opportunities ....................................................................................................................................................... 54
Governance information ........................................................................................................................................................... 57
ESRS G1 Business conduct ........................................................................................................................................................ 57
G1-1 Business conduct policies and corporate culture ............................................................................................... 57
G1-3 Prevention and detection of corruption and bribery ........................................................................................... 60
G1-4 Incidents of corruption or bribery ....................................................................................................................... 61
G1-5 Political influence and lobbying activities ........................................................................................................... 61
Annexes ..................................................................................................................................................................................... 62
IRO-2 Disclosure Requirements in ESRS covered by the undertaking’s sustainability statement ............................................................ 62
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 11
General information
ESRS 2 General disclosures
BP-1 General basis for preparation of sustainability statements
The Sustainability Statement has been prepared at Group level and corresponds to the consolidated financial statements.
The Sustainability Statement covers information on the material impacts, risks and opportunities associated with Eezy's own
activities and those of Eezy through its direct and indirect business relationships up and down the value chain. Eezy has
identified material sustainability issues in its own operations and in the value chain in accordance with the principle of double
materiality. Due to the nature of its service-based and labour-intensive business, Eezy's material impacts, risks and
opportunities relate to its own operations and to the entities downstream in the value chain.
The upstream end of Eezy's value chain consists of a small amount of service-oriented procurement relative to the total volume
of activities, such as training, subcontracted staffing, marketing and administrative services. The upstream value chain also
includes ICT equipment and software, premises and vehicle costs.
Eezy operates in Finland. The operations of Eezy Group and its franchise network employ about 20 000 diverse professionals
across its services. The company has 36 locations in Finland, including franchise offices. Eezy helps its client companies and
talents to succeed at different stages of their working lives by providing workforce, employment opportunities, training and
culture development.
Eezy's customers are at the end of the value chain. Eezy's customers include companies and individuals from a wide range of
sectors in society, including construction, industry, retail, horeca plus the health and social services sectors.
Eezy has used the possibility to exclude data related to intellectual property, know-how or innovation results in its Sustainability
Statement.
BP-2 Disclosures in relation to specific circumstances
Eezy has not deviated from the medium or long-time horizons defined in section 6.4 Short-, medium- and long-term definition for
reporting purposes in ESRS 1. Eezy has no downstream measures that include data estimated from indirect sources. Metrics
with measurement uncertainty or methodological limitations are included in the report. These metrics and their associated
uncertainties are identified in sections S1 and S3 of the report in the metric descriptions.
This is Eezy's second sustainability report. Eezy has made refinements to the material impacts, risks, and opportunities it
reports on. The changes are documented in section IRO-1 of this report. Eezy has no other material changes to report in the
preparation and presentation of sustainability information or errors from previous periods. Furthermore, Eezy does not include in
its sustainability statement information that is based on other legislation or generally accepted sustainability reporting standards
and frameworks. Eezy's Sustainability Statement does not contain references to any information outside the Sustainability
Statement.
GOV-1 The role of the administrative, management and supervisory bodies
In accordance with the Limited Liability Companies Act and Eezy's Articles of Association, the administration and management
of the company is divided between the shareholders, the Board of Directors and the CEO. The CEO is assisted in the day-to-
day management of the company by the Management Team. Shareholders participate in the supervision and management of
the company through decisions taken at general meetings. The Board of Directors is responsible for the management of the
company and the proper organisation of its activities. According to Eezy's Articles of Association, the Board of Directors consists
of at least three and no more than ten full members. The term of office of the members of the Board of Directors expires at the
end of the Annual General Meeting following their election. Eezy's corporate governance complies with the Finnish Limited
Liability Companies Act and the recommendations of the Finnish Corporate Governance Code 2025 published by the Finnish
Securities Market Association.
The Audit Committee is responsible for, among other things, monitoring the implementation of sustainability reporting (CSRD)
and the procedures used and the information reported during the reporting process in accordance with the law, reviewing the
sustainability report produced as a result of the sustainability assurance process , assessing its legality, presenting the
sustainability report and its results to the Board of Directors, and assessing the independence of the statutory sustainability
verifier or sustainability assurance body and preparing the decision on their selection. The members of the committee are Mika
Uotila (chair), Kati Hagros, and Paul Savolainen.
The HR & Corporate Sustainability Committee is responsible for assessing the alignment of HR strategy, culture and business
strategy, overseeing talent management processes and strategies, assessing leadership development measures and HR
policies, assessing the implementation of corporate social responsibility in the culture and business strategy at the top level,
monitoring HR strategy, HR policy, the appropriateness of key HR management processes and monitoring the implementation
of Sustainability reporting where it is not the responsibility of the Audit Committee. The members of the Committee are Maria
Pajamo (chair), Tapio Pajuharju and Mikko Wirén.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 12
The members of the Eezy Management Team are appointed by the Board of Directors on a proposal from the CEO. The
Management Team assists the CEO in the management and development of the business and coordinates the management of
the Group. The main areas discussed by the Management Team are the Group's strategy and annual planning, financial and
sales planning and monitoring, acquisitions, business combinations and other business-related investments. The members of
the Eezy Management Team have broad authority to act within their respective areas of responsibility and are responsible for
developing Eezy's business in line with the objectives set by the Board of Directors and the CEO and the strategy approved by
the Board.
Composition of the administrative, management and supervisory bodies
Seven members were elected to the Board of Directors at the Annual General Meeting on 8 April 2025 for a term of office
ending at the close of the Annual General Meeting following the election. Kati Hagros, Tomi Laaksola, Maria Pajamo, Tapio
Pajuharju, Paul-Petteri Savolainen, Mika Uotila, and Mikko Wirén were re-elected as members. Tapio Pajuharju serves as the
chair of the board.
There is no employee representative on Eezy's Board of Directors or Management Team.
The company follows the recommendations of the Code on Corporate Governance for listed companies (CG2025). The
eligibility of the members of the Board of Directors is defined in the Recommendation on the Corporate Governance Code for
Listed Companies and in the Rules of Procedure of the Board of Directors of the Company. In accordance with
Recommendation 8 and 9 of the Corporate Governance Code, the composition of the Board of Directors of the Company
considers the requirements of the Company's activities and the stage of development of the Company. The composition of the
board must be sufficiently diverse. The person elected to the Board of Directors must have the qualifications required for the
position and be able to devote sufficient time to it. The number of directors and the composition of the board shall be such as to
enable the board to carry out its duties effectively. The board shall be composed of both sexes.
The eligibility of the members of the Board of Directors is also defined in the Board's Rules of Procedure, according to which the
Board must have sufficient and diverse skills and experience. The proposal for the composition of the Board of Directors is
prepared considering the requirements of the company's activities and the stage of development of the company. Members of
the Board of Directors shall be selected based on their qualifications and their ability to devote sufficient time to their duties.
On December 31, 2025, Eezy's management team consisted of eight members. In addition to the CEO (Johan Westermarck),
the management team included acting CFO Sari Lehto, business directors Jaakko Koivisto (Staffing Services Helsinki &
Tampere), Markus Muurinen (Staffing Services Turku & Seinäjoki), Heikki Tyrväinen (Franchise entrepreneur network and
national customers), and Markus Jussila (Professional Services), Päivi Salo, Director of Business Solutions, and Laura
Kauppinen, Chief Corporate Officer, who is also responsible for sustainability management. Each member of the management
team has significant experience in their area of responsibility as well as in industries related to Eezy's service portfolio. The
professional experience and positions of trust of the members of the Management Team are described on the company's
website.
The members of the Management Team are regularly trained in good governance, investor communication and insider issues.
When electing board members, both genders should be elected to the board. Accordingly, both genders should be represented
on the Board of Directors. The aim is to ensure that the Board has sufficient expertise and experience to implement the
company's strategy.
In 2025, the composition of the Board of Directors was split by gender, with women accounting for 29% of board seats and men
for 71% (see table below).
Men
71 %
Women
29 %
Men
62.5 %
Women
37.5 %
According to the Corporate Governance Code, most board members must be independent of the company and at least two of
the independent members must also be independent of the company's significant shareholders. Directors must provide the
Board of Directors with sufficient information to assess their competence and independence and disclose any changes in this
information.
In 2025, 57 % of Eezy Plc's Board members are independent of Eezy and its major shareholders.
Independence of the Board of Directors
Independent
57 %
Dependent
43 %
Roles and responsibilities of the administrative, management and supervisory bodies
Eezy's risk management is part of the Group's operating model and therefore an integral part of the Group's management
system. It is an integral part of Eezy's operational planning and management process, decision-making, day-to-day
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 13
management and operations, and control and reporting procedures. Risk management is part of internal control. The Board of
Directors establishes the company's internal control and risk management principles and related changes and addresses
significant risks and uncertainties related to the company's activities.
Eezy's CEO, assisted by the Management team, is responsible for establishing the risk management principles. The CEO is
responsible for the systematic and appropriate implementation of risk management within the Group. In addition, the CEO must
ensure the comprehensiveness of Eezy's risk management and evaluate its implementation. The CEO reports to the Board on
Eezy's strategic level risks and the measures taken to manage them, in accordance with the risk management principles and
risk management process approved by the Board.
The Board discusses the most significant risks at the strategic level, measures to manage them and assesses the effectiveness
and efficiency of risk management. The Management team discusses the most significant business risks of the different
businesses, measures to manage them and assesses the effectiveness and efficiency of risk management. The CEO and each
member of the Management Team and franchisee is responsible for the operational risk management of their area of
responsibility, for identifying risks and defining and monitoring the means of managing them.
Risk management is carried out in accordance with the risk management principles approved by the Board of Directors. As a
rule, the company's risks are assessed once a year in accordance with the risk management process. In addition to risks related
to the Company's business and operating environment, risks related to the Company's corporate sustainability are assessed
separately. For the most significant risks, policies are established to prevent and manage risks.
Ilpo Toivonen, Director of Legal Affairs, is responsible for coordinating risk management.
The risk management principles approved by the Board of Directors and the subsequent Internal Control Charter define the
responsibilities and roles of each function in the implementation of risk management and internal control.
The Board of Directors is responsible for monitoring and evaluating the effectiveness of the company's internal control and risk
management system. The Board approves the company's internal control and risk management policies and any changes
thereto, and addresses significant risks and uncertainties related to the company's operations. The Audit Committee of the
Board reviews risk reports and internal control reports before they are presented to the Board. The Audit Committee monitors
that the significant risks highlighted in the reports are adequately managed and that proposed improvements are implemented
as planned.
The CEO, assisted by the Management team, is responsible for drawing up the risk management principles. The CEO is
responsible for ensuring that the Group implements risk management systematically and appropriately. In addition, the CEO
shall ensure the comprehensiveness of the Company's risk management and evaluate the implementation of risk management.
The CEO reports on risk management to the Board at least once a year.
The Risk Management Coordinator is responsible for supporting and coordinating risk management. The Risk Management
Coordinator is responsible for maintaining and updating the Group's risk register and for compiling risk reports following risk
mapping exercises. The Risk Management Coordinator reports to the Group Board, the CEO and the Management Team.
Businesses, units and franchisees are responsible for managing operational risks in their area of responsibility by identifying
and assessing the risks in their area of responsibility and defining risk management measures, the implementation of which
must be systematically monitored.
Individual employees are responsible for actively identifying risks in their own work and systematically taking risk management
into account in their decision-making and operations. Employees must immediately report any threats, risks, problems,
deficiencies, and suggestions for improvement they observe to their supervisor. Reports can also be made anonymously
through the company's whistleblowing channel.
The CEO and the members of the Management Team are responsible for the implementation of developments and risk
management related to material impacts, risks and opportunities in their respective areas of responsibility. These are also
reported annually to the Audit Committee of the Board of Directors and to the Human Resources and Corporate Sustainability
Committee.
The achievement of strategic development projects, processes and business objectives, as well as targets related to material
impacts, risks and opportunities, are monitored by the management team and business management monthly or as planned in
the annual plan. The Management Team reports annually to the Board of Directors on the progress of its area of responsibility
in accordance with the annual calendar of Board meetings.
Sustainability expertise and skills
Eezy's Board's expertise and competence in sustainability systems is ensured through regular annual sustainability reviews,
which provide Board members with information on material sustainability risks, impacts, opportunities, targets and progress in
the company's operations.
The Board and its committees may also seek third-party expertise on sustainability issues, where appropriate. Many Board
members have many years of experience in sustainability-related topics.
The Board and the management team are supported by strong expertise in good governance, anti-corruption and anti-bribery,
and political interaction within the organisation. Eezy's legal department can also be supported by third party expertise where
necessary.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 14
The Board and the Sustainability and Human Resources Committee review the talent management processes and as part of
this review, the core competency definitions and the competency development plans are reviewed in accordance with the
Committee's annual plan. The company's core is defined considering the strategy and the analysis of material impacts, risks and
opportunities.
Eezy's strategy created in 2024 aims to promote a good working life and strong employment, with key factors including offering
diverse forms of work, preventing exclusion, promoting integration, and developing leadership and well-being at work. The
following core competencies have been defined as essential for promoting the strategy: business expertise, technology and
data expertise, substantive expertise, and interaction and cultural expertise. Owners from the management team have been
assigned to each core competency and their targeted development.
In addition to managing relationships and culture, sustainability-related competences are also part of the professional
competences. Key competences related to sustainability include recruitment and employee relations, health and safety, diversity
management and reporting. Plans are in place to develop these competences both at individual level for the people who are
responsible for these themes and at company level, for example to promote a diverse culture.
Conducting business
Eezy's Board of Directors promotes the interests of shareholders and the company by, among other things, ensuring Eezy's
strategic direction and the proper organisation of the business and Eezy's administration and operations. The Board considers
and decides on all matters of major importance to the company. The Board is also responsible for the proper organisation of the
company's accounting and financial control. The Board of Directors has a role and duties in accordance with the rules of
procedure of the Board of Directors.
The company's Audit Committee focuses on the discussion and preparation of financial and sustainability reporting and control
matters in accordance with the Audit Committee's charter. The Corporate Sustainability and Human Resources Committee
assists the Board of Directors of the Company in matters relating to the appointment, terms and conditions of employment and
remuneration of senior management, remuneration of other personnel, human resources policy and corporate and social
sustainability, in accordance with the Committee's charter.
The CEO manages the day-to-day operations of the Company in accordance with the powers and guidelines issued by the
Board of Directors and the Limited Liability Companies Act. The CEO informs the Board of Directors about the development of
Eezy's strategy, business and financial situation. The CEO is also responsible for ensuring that the company's accounting is in
accordance with the law and that its financial management is organised in a reliable manner. The Management Team assists
the CEO in the management and development of the business and coordinates the management of the Group.
Eezy's Code of conduct, approved by the Board of Directors and communicated throughout the organisation and to
stakeholders, defines the company's business ethics and culture, including the fight against corruption and bribery, protection of
whistleblowers and conduct related to political influence. Eezy’s legal director oversees all advocacy activities. Lobbying is
mainly carried out through membership of Palta.
In terms of payment practices, Eezy has defined acceptance limits for contracts and payments, as well as payment practices for
customer contracts. The company's credit control function manages open receivables and collects overdue receivables in
accordance with good collection practices, in conjunction with customer service representatives. The same principles are
applied to small and medium-sized enterprises as to others. In the case of payment difficulties, the best possible outcome is
negotiated with all customers.
Supplier relationships are managed by the person responsible for each business, process and function. Supplier agreements
are concluded in accordance with the instructions of the Legal Department and are reviewed by them. The right to sign on
behalf of the supplier is based on the job title and the employer's instructions in the case of normal supply and business
relationships. In situations where formal signatory authority is required (e.g. notifications to public authorities, contracts with
financial institutions, contracts with public bodies), the right to sign on behalf of the company is only granted to the company's
directors or authorised signatories authorised by the Board of Directors, who are registered in the Commercial Register and in
accordance with the Articles of Association. In addition, the Board of Directors may have granted certain persons the right of
official representation of the company. In addition, for those who are registered in the Commercial Register, the company's
current business signing policy applies.
In accordance with the Rules of Procedure of the Board of Directors, the composition of the board must ensure that it has
sufficient and diverse expertise and experience for the whole. The proposal for the composition of the Board of Directors is
prepared considering the requirements of the company's activities and the stage of development of the company. The members
of the Board of Directors shall be chosen from among persons who have the qualifications required for the position and who are
able to devote sufficient time to it.
The members of the company's Audit Committee must have the qualifications required for the committee's area of responsibility.
In addition, at least one member of the audit committee must have specific expertise in accounting, bookkeeping or auditing.
The members of the company's corporate sustainability and human resources committees shall have the qualifications required
for the area of responsibility of the committee. The Chief Executive Officer of the company shall have the expertise and
qualifications required for the position of Chief Executive Officer, as determined by the Board of Directors in accordance with the
requirements of the company's business. The members of the Management team must have the qualifications required for their
area of responsibility.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 15
GOV-2 Information provided to, and sustainability matters addressed by the undertaking’s
administrative, management and supervisory bodies
The Board of Directors and its Audit Committee are informed at least once a year about the Company's material impacts, risks
and opportunities and the implementation of measures to manage them, as well as the results and effectiveness of the policies,
actions, metrics and objectives designed to address them. If the operating environment changes materially in the middle of the
year, the Board and the Audit Committee will receive a new report. The Chief Executive Officer, assisted by the Risk
Management Coordinator, is responsible for reporting.
The Management team and the Business Management Teams regularly assess the impacts, risks and opportunities related to
their own activities at their meetings.
Internal control reports are submitted to the Board of Directors, the Audit or Sustainability and Human Resources Committee of
the Board of Directors or the CEO, as appropriate, for information and consideration. The Chief Executive Officer, Chief
Financial Officer or Chief Legal Officer of the company shall present the reports to the Board or the relevant committee for their
area of responsibility.
The progress of the developments highlighted in the reports by internal control and the resulting corrective and development
actions are followed up by reports to the Audit Committee or the Sustainability and Human Resources Committee, depending on
the size and seriousness of the issue, at least once a year until the corrective and development actions are implemented.
The completed internal control audit report is submitted to the management of the audited entity and to the Group CEO and,
depending on the significance of the matter, to the Board of Directors or its committees, as appropriate. The Board and the
Audit, Sustainability and Human Resources Committees discuss the risks, implications and opportunities associated with the
Sustainability Statement as part of each body's annual review.
The Company’s risk management is an integral part of the Group’s management control system and thus a fundamental
element of the Group’s management system. Risk management is systematic, proactive, and comprehensive, covering the
entire Group’s operations and considering all risk areas.
Risk management is implemented in accordance with the risk management principles approved by the Board of Directors. The
Company’s risks are assessed in line with the risk management process, primarily once a year. In addition to risks related to the
Company’s business operations and operating environment, risks related to the Company’s sustainability are assessed
separately. Operating models are developed for the most significant risks to enable their prevention and management.
Risk management reports are submitted, depending on their context, for information and review to the Board of Directors, the
Board’s Audit Committee or Sustainability and Human Resources Committee, or the CEO. The Company’s CEO or General
Counsel presents the reports to the Board of Directors or the relevant committee within their respective areas of responsibility.
Impacts, risks and opportunities are considered in the Company's operations in accordance with the risk management principles
approved by the Board of Directors. The Company's risks are categorised into strategic, business, operational, financial and
damage risks. The objective of risk management is to ensure the achievement of the Group's objectives and the smooth
continuity of operations. Risk management is a systematic and continuous activity aimed at identifying the Company's risks,
assessing the impact and likelihood of the identified risks materialising and managing them effectively.
The operational planning and strategy process identifies risks to the achievement of objectives and defines the means to
manage them. The company's risk management consists of a risk management target state, a risk management process and its
implementation, monitoring and reporting. Risk management is continuously developed as part of the Company's operations.
The Company may take conscious risks that can be managed, and the effects of their possible realisation are reasonable. Risk-
taking should be based on the prior identification and assessment of potential impacts, and the identification and comparison of
benefits and disadvantages. Risk-taking must not jeopardise the achievement of the Group's objectives or the continuity of the
Group in the short or long term.
Eezy's first double materiality analysis was completed in the 2024 reporting period and updated in 2025. Eezy's Management
team, its Human Resources and Sustainability Committee, Audit Committee and Board of Directors discussed Eezy's strategic
and sustainability-related material impacts, risks, and opportunities during the past period. A list of the material sustainability
impacts, risks and opportunities discussed can be found in section SBM-3 Material impacts, risks and opportunities and their
interaction with the strategy and business model. Eezy has updated its strategic risk descriptions to reflect material sustainability
issues.
GOV-3 Integration of sustainability-related performance in incentive schemes
Eezy Plc's incentive and reward systems are designed to support the achievement of the company's sustainability goals. The
remuneration schemes are targeted at members of the administrative, management and supervisory bodies and are in line with
the company's remuneration policy, which was approved at the Annual General Meeting on 9 April 2024. The key features of the
remuneration schemes are based on long-term financial success and improving the company's competitiveness. The system
ensures that the long-term interests shared by the company and its shareholders are realised, encouraging and engaging
directors to act in line with common objectives.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 16
Eezy Plc's remuneration policy is presented to the Annual General Meeting for its advice at least every four years and material
changes are made. The Board regularly monitors the alignment of Eezy's remuneration practices with the current remuneration
policy. The Board may establish a Remuneration Committee or other committee to assist the Board in this regard.
It is always the institution that nominates the person to be rewarded that decides on the award. Accordingly, the General
Meeting of Eezy Plc decides on the remuneration of Board members. The remuneration of the CEO and other compensation
and financial benefits are decided by the Board of Directors of Eezy Plc within the framework of the remuneration policy
proposed at the Annual General Meeting. The Board of Directors has established a Sustainability and Human Resources
Committee to assist the Board of Directors in personnel and remuneration matters and prepares related matters for the Board.
At least half of the members of the Sustainability and Human Resources Committee must be independent of the company. The
Committee is composed of Board members and reports to the Board. Conflict of interest issues are considered in the
remuneration decision-making process. To avoid conflicts of interest, the CEO of Eezy is not a member of the Board of Directors
or Committees of the Company.
The issue of shares, options and other special rights entitling to shares shall be decided by the General Meeting or by the Board
of Directors, authorised by the General Meeting. Shares, options and other special rights entitling to shares may be granted to
members of Eezy Plc's bodies as part of their remuneration. In this case, the body that nominated the person to be remunerated
always decides on the remuneration.
In addition to a fixed salary, the CEO may have other remuneration. This variable element of remuneration can consist of both
short-term (STI) and long-term (LTI) remuneration models. The Board decides on the structure, the target level and the other
main conditions for the variable component of the CEO's remuneration. Short-term remuneration is based on the company's
performance, revenue or other similar targets set by the Board.
Eezy Plc's Board of Directors has defined a share-based compensation plan for key employees, with vesting period criteria
based on total shareholder return, EBIT percentage and sustainability factor. These criteria support the achievement of
sustainability objectives, and the scheme assesses performance against these criteria. Sustainability-related performance
measures are a key element of the benchmarks of the reward system. They are included in the share-based compensation
system, where criteria such as EBIT percentage and total shareholder return determine the level of rewards. The sustainability
factor, linked to the company's sustainability programme, influences remuneration and contributes to the achievement of
sustainability objectives. The variable sustainability-related bonus forms part of the total remuneration of management and can
vary by ±10% depending on the fulfilment of the sustainability criterion. The company's Board of Directors has decided that,
starting on January 1, 2025, the implementation of sustainability criteria will be assessed based on the combined impact of two
different metrics. Both indicators will be weighted equally at 50%. Indicator 1 is eNPS, the employee (white-collar workers,
franchise chain white-collar workers, staffed employees) recommendation index. Indicator 2 is the PeoplePower overall index.
This structure encourages management to focus on sustainable business and the achievement of sustainability goals.
The remuneration of the Board of Directors and the CEO is based on the remuneration policy of the Institutions approved by the
Annual General Meeting of Eezy held on 9 April 2024. By the end of the fiscal year, the remuneration of the Company's
management has been in line with the Company's remuneration policy without any deviations. Remuneration contributes to the
long-term financial success of the Company by improving the Company's competitiveness and shareholder value.
Remuneration ensures that the long-term interests of the Company and its shareholders are shared and encourages, engages
and motivates competent members of the Board to act in accordance with the common objectives.
On 17 December 2019, the Board of Directors of the Company has decided on a long-term share-based compensation plan for
the Company's key employees. The purpose of the Long-Term Incentive Plan is to align the objectives of shareholders and key
employees to increase the value of the Company and to implement the post-acquisition integration and business strategy in the
long term. It also aims to retain individuals in the Company and provide them with a competitive remuneration scheme based on
the earning and performance of the Company's shares. The Board of Directors of the Company sets the vesting criteria, the
targets to be achieved, the maximum number of shares to be awarded and the key employees to be covered by the scheme for
each performance period.
The company has a fifth performance period of the share-based compensation plan covering the calendar years 2025-2026. At
the start of the fifth earning period, eight people were included in the plan. The Board of Directors may add or remove persons
from the scheme in accordance with the terms and conditions of the share-based incentive plan. The maximum number of
shares that can be awarded during the fifth earning period is 256 000 Eezy shares. The earning criteria for the earning period
are based on 1) The company's relative operating profit (EBIT%) for the financial year ending December 31, 2026 (40%
weighting), 2) the Company's absolute total shareholder return (TSR) in relation to the share price on the first trading day of
2025 (weighting 60%), and 3) the sustainability criteria linked to the Company's sustainability program and targets, as
determined later by the Board of Directors (impact on the combined achievement of the earnings criteria + - 10%).
The Board has drawn up written rules of procedure for its activities, which define its tasks and activities in more detail. The
Board approves the incentive schemes for the CEO and other executives; the remuneration principles applied by the company
and decides on the principles for the remuneration of the members of the Management Team.
The Board has established the Sustainability and Human Resources Committees to support its work regarding staff
remuneration. The Sustainability and Human Resources Committee consists of a chairman and two to three (2-3) members
elected by the Board from among its members at the Board meeting following the Annual General Meeting.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 17
GOV-4 Statement on due diligence
Key elements of the due
diligence process
Items in the Sustainability Statement
a) Integration of the due
diligence process into the
governance, strategy and
business model
GOV-2 Information provided to, and sustainability matters addressed by the undertaking’s
administrative, management and supervisory bodies
GOV-3 Integration of sustainability-related performance in incentive schemes
SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business
model
b) Interaction with affected
stakeholders at all key stages
of the due diligence process
GOV-2: Information provided to, and sustainability matters addressed by the undertaking’s
administrative, management and supervisory bodies
SBM-2 Interests and views of stakeholders
IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities
S1-2 Processes for communicating impacts with own employees and their representatives
S3-2 Processes for communicating with affected communities about impacts
c) Identification and
assessment of adverse effects
IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities
SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business
model
(d) Taking measures to
combat the adverse effects in
question
S1-3 Processes to remediate negative impacts and channels for own workforce to raise concerns
S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material
risks and pursuing material opportunities related to own workforce, and effectiveness of those
actions
S3-3 Processes to remediate negative impacts and channels for affected communities to raise
concerns
S3-4 Taking action on material impacts on affected communities, and approaches to managing
material risks and pursuing material opportunities related to affected communities, and effectiveness
of those actions
G1-1 Business conduct policies and corporate culture
G1-3 Prevention and detection of corruption and bribery
(e) Monitoring and
communicating the
effectiveness of these actions
S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material
risks and pursuing material opportunities related to own workforce, and effectiveness of those
actions
S1-5 - S1-17 Metrics and targets
S3-4 Taking action on material impacts on affected communities, and approaches to managing
material risks and pursuing material opportunities related to affected communities, and effectiveness
of those actions
S3-5 Objectives related to managing significant negative impacts, promoting positive impacts and
managing significant risks and opportunities
G1-3 Prevention and detection of corruption and bribery
G1-4 Incidents of corruption or bribery
G1-5 Political influence and lobbying activities
GOV-5 Risk management and internal controls over sustainability reporting
The risk management and internal control of sustainability reporting is based on Eezy Plc's Group-level principles and
guidelines and the practices defined by the legislation in force. The activities are also guided by the Group's shared values.
The identification of risks in sustainability reporting is based on Eezy Plc's risk management and internal control processes and
procedures. Risk management is carried out continuously and systematically through annual risk mapping workshops. The
objective of risk management is to identify risks related to sustainability reporting, assess their significance and manage and
monitor them. Each function is responsible for managing the risks identified. This activity is supported by an internal control
function, which allows for a more in-depth review of the status and development needs of sustainability reporting or any other
key audit matter relevant to the company's operations, as decided by the Audit Committee.
Sustainability reporting is managed from a centralised Group communications function, with experts from the standardised
sections, such as finance, HR and legal, participating in the creation of the report
Risks identified in the sustainability reporting include data integrity, accuracy and timeliness. The Eezy Group consists of
several businesses and its own workforce includes both salaried and staffed employees employed by the Group. Information on
these groups is stored in five different systems. In 2025, data fragmentation is caused by the fact that Eezy Staffing Services is
still implementing an ERP system, which, in its final form, will consolidate data points for staffed employees into a single system.
The risks associated with data fragmentation have been mitigated as the ERP system has been widely adopted during 2025,
and the majority of data points are already in one system for 2025. The identified reporting risk has been managed and
mitigated by working on reports from different systems in a dedicated working group, while also correcting any fragmentation.
The company's Audit Committee is given regular reports on the progress of its sustainability reporting. The Audit Committee
reviews the sustainability report as part of Eezy's consolidated financial statements.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 18
SBM-1 Strategy, business model and value chain
With its comprehensive range of services, Eezy meets the changing needs of Finnish working life and, in addition to its versatile
offering, its nationwide service network enables it to act as a comprehensive partner for both clients and individuals. Eezy
operates in Finland and its customers include companies, the public sector and private individuals. Eezy's mission is to build a
good working life, and according to its 2024 strategy its vision is to make work a joyful thing. The Group's business is managed
and monitored as a single entity and therefore the Group has only one operating segment. Revenue is reported broken down
into two service areas: Staffing Services and Professional Services. The Staffing Services revenue includes both the Group's
own staffing and franchise revenues. The revenue of Professional Services includes professional services and Light
Entrepreneurs.
Revenue by service area:
EUR million
1.1.-31.12.2025
1.1.-31.12.2024
Staffing services
115.7
145.5
Professional services
24.0
29.0
Common functions and eliminations
-0.3
-0.5
Total revenue
139.3
174.1
On 15 February 2024 the Board of Directors of Eezy Plc approved the company's strategy and long-term financial targets for
2024-2028. Eezy has focused on services related to its customers' human resources, management and corporate culture
design, and its long-term targets for the strategy period will be profitable growth.
The Staffing Services business provides recruitment and staffing services to customers and employees. Staffing Services
provide labour to corporate clients, whereby an employee is employed by Eezy and performs work for an agreed period in the
client company. Eezy provides staffing services both through its own entities and through franchisees.
The Professional Services business provides research, training and development services for business personnel, management
consultancy and recruitment services (direct searches, suitability assessments and relocation). It also provides coaching
services for high school and university students and employment services in the form of training, coaching, integration, guidance
and rehabilitation services. Eezy's light entrepreneur services, on the other hand, allow individuals to become self-employed
without setting up their own business by billing their customers through the Eezy service.
In Staffing services, Eezy has aimed to grow revenue faster than the staffing market. In the professional services business area,
the objective has been to double revenue from 2023 levels by the end of the strategy period.
Eezy has aimed to significantly improve its profitability and achieve an EBIT margin of 8% by the end of the strategy period. The
improvement in profitability is based on economies of scale from revenue growth, increased productivity using technology and
artificial intelligence, and improved efficiency through greater productization of services.
Sustainability programme
Eezy's sustainability programme is called "Good work, Finland" and is intrinsically linked to Eezy's strategy and mission. On the
one hand, the company's business and sustainability work focuses on providing a range of work opportunities for all and, on the
other hand, on developing more prosperous, equal and diverse work communities.
Eezy is one of the top 50 largest employers in Finland and therefore a significant employer. The company offers employment
and career transition opportunities for all - young people, the retired, immigrants, light entrepreneurs, staffed and permanent
employees. The company also helps people find employment and prevents social exclusion, for example by providing life-skills
training for people who find it difficult to find work, for people changing careers and for immigrants among others. Eezy helps its
clients to succeed in their business by recruiting talent flexibly, researching and developing people experience and leadership,
and designing corporate cultures that support their strategy.
As a versatile labour market expert, Eezy has a high social impact, both through its own activities and through its clients and
other stakeholders.
The key sustainability objectives for the Staffing Services business are:
• Responsible, non-discriminatory and equal recruitment
• Good safety at work
• Skills development and orientation
The key sustainability objectives for the Professional Services business are:
• promote diversity, equality, equity and inclusion in the working communities of Eezy and its clients
• promote good staff experience, leadership and company cultures
Among the sources of growth identified in the 2024 strategy, sustainability issues are related and influenced using technology
and artificial intelligence, scaling up of the foreign workforce, expansion into the health and social services sector and the
implementation of possible acquisitions. Sources of competitive advantage identified include best talent, agile service and
customer insight. Eezy's strategy has also identified trends that will support the development of the company's business during
the strategy period: labour shortages and the matching challenge, the broad need for employment in Finnish society, the
opportunities created by technology and artificial intelligence, and the transformation of working life in terms of staff experience,
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 19
leadership and different forms of work. Eezy annually identifies risks related to its business, strategy implementation and
sustainability as part of its risk management process. Eezy has strategic projects or sources of growth related to sustainability
systems and sustainability reporting. These include the introduction of new AI-enabled technology in the Staffing Services
business and increasing international recruitment.
Main features of the Eezy value chain
Eezy's business consists of a range of workplace services, including staffing, employment services, research, recruitment
services, management and employee experience development, and light entrepreneurship services. The value chain is defined
from the perspective of the whole Eezy Group, considering all business activities.
The upstream end of Eezy's value chain is characterised by service-oriented procurement, including, to a lesser extent, staff
coaching, training, subcontracted staffing, marketing and administrative services. Other purchases include ICT equipment and
software, premises and vehicle costs. Eezy's procurement is governed by Eezy's Code of conduct and other working, process
and contractual guidelines, for example on payment practices and business confidentiality.
The rights and obligations of Eezy and its liaison partners are set out in the contracts for the provision of the service. Eezy's
Code of Conduct, internal policies and values, among others, guide the drafting of contracts, the selection of partners and the
content of the customer contract. In addition, Eezy's selection of partners is governed by the Eezy Related Party Principles,
which govern cooperation with Eezy's related parties. Eezy defines related parties in accordance with IAS24 standard. When
importing international labour, the responsible conduct of the partner is ensured by using only Eezy-audited partners.
Eezy's own operations focus on broad employment through a national network of offices and the provision of a wide range of
working life services. Eezy is a major employer – franchise chain included we paid salaries to 20 000 people in 2025. Eezy
Group employed 354 office staff employees and an average of 2 033 staffed employees in 2025 in man-years. Eezy offers
diverse opportunities for employment and career transitions - for young people, retirees, immigrants, light entrepreneurs, gig
workers and permanent employees. Eezy's employees are geographically spread across Finland thanks to our nationwide
network of offices. In 2025, Eezy Group and its franchise chain employed approximately 10 700 people under 30 and
1 600 people over 55.
At the end of the value chain are the customers of Eezy's services, i.e. the end users, as well as investors and society. Eezy
provides services mainly to corporate clients (staffing, employment services, recruitment services, management, HR experience
and culture development), but also to consumer clients (coaching courses, light entrepreneurial services, various employment
services). Every year, Eezy carries out up to 1 000 management and HR development projects plus 2 000 personality
assessment and recruits thousands of employees for its clients. In 2025, the Eezy Employment Services unit trained around
6 200 people, of whom around 32% were employed on the open labour market or started training. Eezy works with trade unions,
public administration and educational institutions to improve the work experience and employment opportunities of Finns.
We pay our taxes in Finland, and we are committed to responsible tax management in accordance with regulations and laws. In
2025, the tax footprint of Eezy group was 80 million euros. Eezy did not pay a dividend to its shareholders in 2025 (on 2024
earnings).
About Eezy's value chain and the associated impacts, risks and opportunities, it should be noted that in staff leasing, Eezy
supplies staffed employees to the user company in accordance with labour legislation. In a temporary employment relationship,
Eezy acts as the employer of the staffed employees, being responsible for the employer's obligations. This is an employment
relationship. The client company has the authority and responsibility to directly perform and supervise the work of the temporary
staffed employee. The relationship between Eezy and the client company is a contractual relationship between two companies:
the rights and obligations of the parties being determined by the client contract and the general terms and conditions of the
industry (HELA YSE 2023). In terms of safety at work, the client company is primarily responsible for the temporary staffed
employee under the Health and Safety at Work Act and Eezy is secondarily responsible.
Eezy receives no income from fossil fuels, chemical production, controversial weapons or tobacco cultivation and production.
SBM-2 Interests and views of stakeholders
Eezy has identified several key stakeholders in its strategy, risk management and double materiality assessment, as well as in
its stakeholder analysis. Eezy's key stakeholders include:
- Customers
- Employees
- Investors
- Suppliers of goods and services
- Financiers
- (Sectoral) associations
- Media
- Authorities
- Schools
The following table describes the interaction with key stakeholders, their expectations and how they have responded to them.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 20
Eezy's key
stakeholders
Means, scope and frequency of
interaction
Stakeholder expectations
and the purpose of the
interaction
Meeting stakeholder
expectations
Customers (companies
and other organisations,
light entrepreneurs,
coaching course
participants,
employment trainees)
Face-to-face meetings and other
interactions (daily)
Marketing tools (website,
newsletters, content marketing,
social media (weekly)
Events (monthly)
Customer surveys and research
(annual)
Meeting service needs, such
as security of supply, timely
and high-quality project
delivery, successful
recruitment, etc.
Responsible and reliable
practices
Good value for money
Improving reliability of supply
Responsible practices
Good reputation
Employees (current,
future, retired)
Staff satisfaction surveys (annual)
Staff briefings (monthly for office
staff)
Confidence representatives
Development and 1-1 meetings
(monthly and annually, for staff)
Recruitments
Employer surveys (annual or
every 2 years)
Whistleblow reporting channel
Training, orientation, Skills
development (monthly)
Harassment Liaison Officers
Well-being, work satisfaction
and work management
Work safety
Learning and development at
work
Equality, diversity and equal
opportunities
Good leadership and corporate
culture
Fair remuneration
Importance of work
Supervisory work
Determined leadership of the
company culture and operation
according to values
HR surveys
Code of Conduct and equality
and non-discrimination policy
Responsible recruitment
Occupational safety guidelines
Occupational healthcare
Remuneration policy and
guidelines
Job descriptions
Human resources strategy
Description of the supervisory
role
Investors
Financial reporting (quarterly)
Board work (monthly)
Investor meetings (quarterly)
Websites
Investor surveys (approximately
every 2 years)
Development of ownership
value
Sustainable financial
performance, result and
balance sheet
Risk management including
sustainability risks
Transparent and timely
information on the
development of the company
Good governance
Timely, transparent and
understandable reporting and
communication
Managing the company in line
with its strategy towards long-
term financial goals
Suppliers of goods
and services
Negotiations, meetings, interaction
(annual)
Communication of Eezy's policies
Contracts, invoicing guidelines
Audits (annual)
A long-term and fair
partnership
Clear contract terms
Continuous development of
cooperation
Code of conduct
Contract templates
Clear billing guidelines
Financiers
Financial reporting (quarterly)
Investor meetings and
negotiations (quarterly)
Sustainable economic activity,
result and balance sheet
Risk management including
sustainability risks
Good governance
Timely, transparent and
understandable reporting and
communication
Managing the company in line
with its strategy towards long-
term financial goals
(Sectoral) associations
Memberships in industry
associations (approximately by
quarter)
Dialogue through meetings and
written communication
Defining and promoting
common objectives
Respect for human rights
Working conditions, health and
safety
Advocacy and cooperation
processes
Media and other communication
Media
Press releases and other written
communications (monthly)
Press contacts (quarterly)
Responding to questions and
enquiries
Social advocacy and debates
on working life, employment,
diversity and good working life
experience
Consistent and open
communication
Experts and communicators
available
Good press materials (studies,
pictures, data, views)
Authorities
Financial and sustainability
reporting (quarterly)
Data protection processes
Complying with laws and
regulations
Reporting
Investor communications
Communication and interaction
Schools
Cooperation with institutions
(annual/quarterly)
Cooperation with student
associations
Good working life experience
and skills for the target group
of young people
Cooperation and participation in
projects
Visits to Eezy
Speeches
Theses
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 21
Stakeholders' interests and views are considered in the company's strategy and business planning processes, for example
through customer and employee surveys and continuous interaction. Factors to be considered during the strategy period include
changes in legislation, changes in labour supply, attraction and retention, and the availability of international labour. Each year,
Eezy's Board of Directors will review the risks, opportunities, impacts and changes in the operating environment related to
Eezy's business, as well as the key performance indicators for each business and function, including customer and employee
satisfaction plus brand and reputation development.
The interests, views and rights of our own workforce are a key driver of Eezy's business success. For example, labour
shortages and matching challenges affect both the demand for Eezy's services and the company's ability to deliver high quality
services that meet customer requirements. Eezy's key competitive advantage is that it employs the best talent, both in-house
and as staffed employees. Eezy must be a preferred and well-liked place to work. This requires the company to understand its
employees' motivations, to offer the right kind of work at the right time, to provide training, safety and well-being at work, and
opportunities for employee development. We ensure that the views, interests and rights of employees are reflected in our
strategy and business models, for example through development programmes based on the results of employee surveys, good
orientation programmes, training for recruits on equality, non-discrimination and equity, occupational health services and the
development of a responsible culture and leadership that is in line with the company's strategy.
Finnish society and the communities that Eezy impacts are strongly linked to Eezy's business model and strategy. Eezy's
mission is to create growth and prosperity for Finland and jobs for all. In addition, Eezy has recognised that the megatrends of
labour shortages, matching challenges and the need for widespread employment all contribute to Eezy's business. Although as
part of the double materiality assessment, Eezy identified only positive impacts related to the affected communities, the views,
interests and rights of the affected communities are considered in Eezy's strategy and business activities across the board.
Eezy regularly listens to affected communities, their views and interests through, for example, face-to-face meetings, customer
and stakeholder events and customer and stakeholder surveys.
SBM-3 Material impacts, risks and opportunities and their interaction with strategy and
business model
The material impacts, risks and opportunities of Eezy identified in the double materiality assessment relate to Eezy's own
workforce (S1), social impact (S3), and business operations (G1). All impacts, risks and opportunities are people-related and
geographically concentrated in Finland, where Eezy operates. Eezy has identified both positive and negative impacts, and that
they are primarily related to variable personnel costs (inputs) and turnover (outputs). The dual materiality assessment has taken
into account Eezy's geographical coverage, premises, inputs, outputs, distribution channels and assets.
In the 2025 review of the dual materiality analysis, it was decided to combine several impacts, opportunities and risks. The
updated descriptions are detailed in ESRS S1 and ESRS S3.
In terms of its own workforce, Eezy's key impacts, risks and opportunities relate primarily to working conditions, terms and
conditions, health, safety and well-being of employees. Ensuring equal treatment of employees, equal opportunities for training
and development, maintaining service quality are also essential. Ensuring diversity, inclusiveness, equality and non-
discrimination is essential both in the workplace and in recruitment. Compliance with personal data storage regulations,
ensuring data security and the responsible use of AI are relevant issues for Eezy in terms of potential impact, as Eezy handles
and manages a lot of sensitive personal data in its operations.
Eezy's activities have a significant impact on our society. For example, alleviating labour shortages and mismatches, improving
the quality of working life, preventing social exclusion, promoting social peace and supporting integration are all highly relevant
positive impacts that arise from Eezy's services and core business. Eezy continuously and purposefully develops its own
business operations and processes with respect to material risks, opportunities and impacts to mitigate and mitigate negative
impacts, prevent risks, enhance positive impacts and seize opportunities.
Eezy's Code of Conduct reflects its values and serves as a guideline for conducting business. The Code of Conduct is an
important part of Eezy's corporate culture and ethical behaviour, which is also required of Eezy's partners and other
stakeholders. The fight against corruption and bribery is essential given the scale of the potential impact of misconduct. In terms
of political interaction, lobbying and advocacy are seen as both a positive influence and an opportunity for Eezy's business.
Eezy's active and responsible lobbying can at its best help achieve a better working life for all.
The impacts, risks and opportunities, with their descriptions and further information, can be found at the beginning of sections
S1, S3 and G1. All the identified material impacts are central to Eezy's strategy and business model and originate from Eezy's
own operations, i.e. Eezy is involved in the material impacts through its operations. Due to the nature of Eezy's business,
impacts were primarily assessed in the short and medium term.
Eezy's material impacts are central and well represented in the strategy. Neither Eezy's strategy nor business model requires
changes based on material risks, impacts or opportunities.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 22
The financial implications of the material risks and opportunities for Eezy relate to
The development of revenue:
• In economic downturns, companies may make less use of staffed employees and other staffing services provided by Eezy.
In an upturn, however, the need for temporary staff and recruitment services increases sharply.
• Poor availability of labour (labour shortages, matching challenge, or availability of foreign labour) can have a negative or
positive impact on the development of revenue. The need for hiring and staffing increases during labour shortages, but on
the other hand, security of supply and therefore invoicing suffers.
• Staff skills shortages can have a negative impact on revenue if, for example, a skills shortage leads to a decrease in
delivery reliability or customer loyalty.
Profitability:
• Potential accidents and sick leave costs are a risk to the company's profitability, especially in the staffing, construction,
manufacturing and logistics sectors. This risk is reduced, for example, through training. The comprehensive occupational
health services provided by Eezy help to prevent work-related illnesses and mental stress.
• Employee engagement is both a risk and an opportunity for the company's profitability. If staff and staffed employees are
committed to the company, the cost of recruitment and turnover rate will fall. Ensuring good working conditions and terms
as well as responsible practices in client companies reduces this risk.
The economic impacts associated with the material risks and opportunities are estimated to occur in the short to medium term.
No material economic impacts related to long-term sustainability risks or opportunities have been identified.
Eezy's strategy and business model is resilient to material sustainability impacts, risks and opportunities, as a significant part of
them are within the Company's own control and the Company can influence, for example, risk mitigation itself.
Eezy has reported on its sustainability impacts, risks and opportunities since 2024.
IRO-1 Description of the processes to identify and assess material impacts, risks and
opportunities
Sustainability impacts, risks and opportunities are considered as part of Eezy's risk management process. Eezy does not have a
separate due diligence process. Sustainability risks and impacts are assessed annually as a separate process. In addition,
some of the key risks are conceptualised as part of the Management team's annual strategic and sustainability risk workshop.
For the most important risks identified, management actions are developed, including timelines and responsible persons. The
impacts, risks and opportunities are discussed by the Human Resources and Sustainability Committee and the Audit Committee
and then presented to the Group Board.
The Audit Committee deals with matters relating to sustainability reporting and the risk management and double materiality
analysis and prepares them for consideration by the Board of Directors in accordance with its rules of procedure. The Corporate
Sustainability and Human Resources Committee deals with other matters related to corporate sustainability and prepares them
for the Board of Directors in accordance with its rules of procedure. The Board considers and approves the Sustainability
Statement for inclusion in the financial statements and approves the results of the annual sustainability and risk management
analysis.
Risks are considered at both strategic and business levels. Strategic risks are prioritised before business risks. Within risk
categories, the prioritisation of different risks is based on the significance of the risk derived from the combined impact and
probability of the risk. The higher the significance of the risk, the higher it is prioritised. For the TOP 4 risks, a separate action
plan is drawn up to reduce the impact of the risk and to prevent it, with a timetable and responsible persons.
Double materiality analysis
The process of identifying and assessing material sustainability impacts, risks and opportunities required by the European
Sustainability Reporting Standards (ESRS) was carried out by Eezy in early 2024, using a combination of analysis based on
both public and internal sources, a materiality assessment by Eezy experts and workshops. The assessment was presented to
Eezy's Management team, and they validated the material issues identified for Eezy. Finally, Eezy's Human Resources and
Sustainability Committee approved the results of the assessment and presented them to the Board of Directors, which approved
them.
The process and results were reviewed and validated in spring 2025. A description of the update can be found at the end of
section IRO-1.
Understanding the context
A background analysis was used to gain an understanding of the context of Eezy and the basis for the double materiality
analysis. Eezy had already identified sustainability issues linked to both its business model and strategy, including stakeholder
perspectives. The first preliminary dual materiality analysis was carried out in 2023. Its background research included interviews
with customers and partners and a staff survey on sustainability issues. As key stakeholders had been engaged in 2023, the
data collected was used in the dual materiality analysis made for the 2024 report. In addition, publicly available information on
Eezy (such as published reports and website), financial data, risk mapping materials, environmental programme, and
sustainability targets and indicators were analysed in 2024. The results of a staff survey, customer experience and reputation
surveys and a sustainability survey were also included in the analysis. The findings were complemented in the background
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 23
analysis phase of the process using established, science-based, sector-specific sustainability standards as well as by a review
of sustainability data from peer companies.
Identifying impacts, risks and opportunities related to sustainability issues
Based on the initial sustainability themes identified in the context analysis, a review of the main features of the Eezy value chain
was carried out. In this way, a set of negative and positive impacts, risks and opportunities related to people and the
environment, in which Eezy is potentially involved through its activities or business relationships, were identified and grouped
according to the sustainability themes of the ESRS (ESRS 1, AR 16). The identification phase considered the links between the
identified impacts and dependencies and the risks and opportunities.
The process of identifying significant impacts, risks and opportunities did not include screening for pollution, water and marine
resources, biodiversity and ecosystems, or resource inflows, resource outflows and waste at the Eezy site locations. The
identification was based on the background analysis carried out in the previous phase and the expertise of the project team. No
significant impacts, risks or opportunities were identified from the environmental data for E2, E3 and E4. In relation to climate
change E1, two negative impacts were identified in relation to emissions and energy consumption, and two transition risks were
identified in relation to regulatory changes and energy availability and price volatility. In relation to the circular economy E5, two
negative impacts were identified in relation to material consumption and waste, and one risk of potential material availability
disruption.
Topic E2 Pollution was therefore already identified as irrelevant at the identification stage, as Eezy's operative control does not
extend to customer premises and, for example, chemical spills or other pollution effects occurring there. E3 Water and marine
resources was identified as irrelevant, as Eezy's own water consumption is minimal, and even small-scale purchases do not
come from water-intensive sectors.
E4 Biodiversity and ecosystems is also irrelevant to Eezy's operations, as potential negative impacts on biodiversity from
customer activities are not within Eezy's operational control. In addition, Eezy's upstream procurement does not include
products or equipment that contribute to, for example, forest or species loss. However, no separate biodiversity impact
assessment was carried out in the double materiality analysis. The analysis did not identify any dependencies on biodiversity
and ecosystems and their services, nor did it identify transitional, physical or systemic risks. The analysis did not include
consultation with affected communities on other potential environmental impacts.
Given the nature of Eezy's business, particularly in relation to social data, several potentially material impacts, risks and
opportunities were identified in topics S1, S2, S3 and S4. Relevant criteria for identifying material impacts, risks and
opportunities related to G1 The conduct of the business, included Eezy's location in Finland and its activities in two different
business areas: Staffing Services and Professional Services.
Assessing impacts, risks and opportunities related to sustainability issues
The materiality of the identified impacts, risks and opportunities was assessed in accordance with the principles of the standards
(ESRS 1, Chapter 3). Eezy’s sustainability consultant company first carried out an independent assessment of the sustainability
impacts. A draft assessment was reviewed and approved by Eezy's key working group and subsequently considered by a larger
working group of Eezy experts and management. The ex-ante evaluation was iterated based on a joint discussion and expert
opinion and finally validated. The working group then moved on to an individual economic impact assessment of sustainability
risks and opportunities.
The severity of the negative and positive impacts (scale, scope and, for negative impacts, irreversibility), the magnitude of the
economic impacts of the risks and opportunities, and the likelihood of each of these occurring was each assessed on a scale of
1 to 5. In 2024, the assessment of sustainability risks and opportunities was carried out as a separate entity from Eezy's other
risk assessment processes in a dual risk assessment process, but the scale of the assessments is consistent. In addition, the
most significant sustainability risks were brought into Eezy's enterprise-level risk assessment process, where they were treated
at the same scales as other strategic and operational risks. Eezy's sustainability and other risks will be assessed in parallel
processes in the future. In the absence of significant changes in Eezy's operations or operating environment, the assessment of
sustainability impacts, opportunities and risks will be carried out on a light review basis compared to the previous year's
analysis. Eezy does not have a separate due diligence process.
The materiality of impacts was the product of the average of separate severity and probability assessments (the economic
materiality of risks and opportunities, and the magnitude and probability of the associated economic impacts). These
assessments resulted in a ranking of all identified impacts, risks and opportunities in order of materiality values, with the
calculated median serving as a quantitative threshold for materiality. Finally, the results were also assessed qualitatively,
leading to some clarifications and revisions by consensus in cases where the quantitative weighting of the issues assessed was
considered unrealistic in relation to the overall resilience profile of Eezy.
The sustainability issues relevant for reporting were determined based on the identified material impacts, risks and opportunities
grouped under them. In the assessment, E1, E5, S2 and S4 were identified not material, based on quantitative and qualitative
criteria. Eezy's material issues relate to the following sustainability issues:
S1 Own workforce - Working conditions, Equal treatment and equal opportunities for all, other employment-related rights
S3 Affected communities - Entity-specific data: employment
G1 Business conduct- Business culture, Corruption and bribery, Political interaction
More detailed impacts, risks and opportunities can be found in section SBM-3. For Eezy, the assessment was carried out at
company level, considering the whole business and value chain, i.e. the analysis did not exclude, for example, specific activities
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 24
or locations. Thus, the impacts in which Eezy participates, either through its own activities or through its business relationships,
were considered comprehensively. Some sustainability issues were also assessed at the top level, such as human rights
impacts in the supply chain, as no more detailed human rights assessment was carried out as part of this process.
Review of the Double Materiality Assessment in 2025
Compared to the previous reporting period, the 2025 double materiality assessment (DMA) process for identifying and
assessing material impacts, risks and opportunities (IROs) was more limited in scope and primarily validation oriented. In spring
2025, Eezy reviewed the baseline double materiality assessment and concluded that there were no material changes in the
company’s sustainability context, organisational structure, business activities or external operating environment compared to the
previous reporting period.
Based on the available evidence and the review performed, Eezy determined that the material sustainability matters identified in
the prior assessment remain unchanged. As part of the review process, the Eezy project team, together with an external
partner, consolidated and made minor updates to selected IRO descriptions to improve clarity and consistency. The updated
descriptions of impacts, risks and opportunities are presented in ESRS S1 and ESRS S3 disclosures. In addition, the time
horizons of identified impacts, risks and opportunities were reviewed and confirmed by the project team. Relevant business and
management representatives participated in the update process through a validation workshop, during which the proposed
updates and the overall results of the assessment were reviewed and validated. The updated double materiality assessment
and its final outcomes were approved by the company’s Board of Directors and applied in the preparation of the 2025
Sustainability Statement.
Eezy reviews its double materiality assessment annually in accordance with ESRS requirements.
E1 Climate change found to be irrelevant for Eezy in the double materiality analysis
In the 2024 double materiality analysis, two negative impacts and two transition risks were identified related to E1 Climate
Change. The relevance assessment considered the possible future prevailing conditions in both the medium and long term and
no significant other impacts, risks or opportunities were identified. The double materiality assessment also considered climate-
related transition risks and opportunities, both within the company's own operations and in the value chain. No significant
transition risks or opportunities were identified. The time horizons used in the assessment are the same as those used in
Section 6.4 Short-, medium- and long-term definition for reporting in ESRS 1.
Eezy has not used climate scenarios for the identification of climate-related hazards and the assessment of exposure and
vulnerability to major emissions. Eezy has not identified any physical climate change risks, assets or businesses that would be
incompatible with the transition to a climate neutral economy as part of its risk management and double materiality processes.
Eezy's assets consist mainly of goodwill and climate change has not been identified as having any impact or risk on Eezy's
assets.
Sectors with a significant climate impact are listed in NACE sections A to H and L, while Eezy's activities are listed in sections M
and N (M70 - Activities of head offices; Management consultancy activities, N78 - Employment activities). Eezy's business itself
is not energy-intensive and energy-related costs are low, so the probability of fluctuations in energy availability and prices, and
particularly the magnitude of the risk, was assessed as relatively low. The magnitude and likelihood of the risk of costs arising
from future emissions legislation was also considered to be relatively low, as Eezy's low emissions mean that, if the risk were to
materialise, the costs would not rise to a significant level. Eezy's assets and business are not sensitive or susceptible to such
transitional events.
Furthermore, Eezy's value chain does not include service or goods producers that are more vulnerable to physical and
relocation risks, such as agriculture or energy-intensive sectors. There are customers at the end of the Eezy value chain, for
some of whom climate change is a major sustainability issue. Examples include energy-intensive industrial sectors, as well as
the retail and horeca sectors with their long value chains. According to Eezy's assessment, the company's Finnish customer
base is well prepared for the risks and impacts of climate change, so the more business-oriented perspective on demand did not
emerge as a major theme in the risk assessment.
Eezy's own business also has a moderate impact on climate change. Only a negative impact IRO Own, and value chain
emissions exceeded the theoretical threshold in the double materiality assessment. However, Eezy's management and experts
made a qualitative change in the validation meeting and Climate Change Mitigation and thus the whole thematic standard E1
Climate Change was excluded from materiality based on the qualitative assessment. Eezy estimates that the majority of Eezy's
greenhouse gas emissions come from value chain emissions - more specifically, employee commuting. Even here, the impacts
are estimated to be small, as only 2/5 of Eezy employees have access to a car and half of the employees working at Eezy in
2025 live in Finland's 6 largest cities, where public transport is readily available, and the expected use is high. Eezy is
committed to examining the climate impacts of its operations and value chain during the strategy period 2024-2028, which will
help to determine whether climate change is a relevant issue for Eezy in the future. Notwithstanding the results of the materiality
analysis, Eezy will strive to meet the climate targets of the Paris Agreement for its own operations. In addition, Eezy is already
taking measures to reduce the climate and environmental impacts of its own activities.
IRO-2 Disclosure requirements in ESRS covered by the undertaking’s sustainability
statement
A table of information points based on other EU legislation can be found in the Annexes section. A list of the disclosure
requirements that Eezy has followed in preparing the Sustainability Statement can also be found in the Annex section.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 25
Eezy's material information in reporting
The data points to be reported by Eezy are defined based on a double materiality assessment. In the assessment process,
material impacts, risks and opportunities were determined based on the materiality threshold and qualitative criteria of the
double materiality assessment. Next, the relevant material sustainability criteria were identified for the relevant impacts, risks
and opportunities and the data requirements that best correspond to the results under these criteria. For the information
requirements, relevant data points were identified, also considering the phase-in provisions (EFRAG IG3). In terms of metrics
reporting, the most relevant ESRS standard metrics were selected if they were considered essential for understanding the
objective of the disclosure requirement.
E1 Climate change is not a relevant issue for Eezy
For a more detailed description of the processes for identifying and assessing climate-related impacts, risks and opportunities,
see section IRO-1.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 26
Environmental information
Information in accordance with the EU Taxonomy Regulation (EU 2020/852 article 8)
EU-taxonomy
Commission Delegated Regulation (EU) 2026/73 allows the application of the previous EU taxonomy regulation applied in the
2024 sustainability reporting for the 2025 financial year (covering Commission Delegated Regulation (EU) 2021/2139), the
supplementary delegated climate regulation (Commission Delegated Regulation (EU) 2022/1214), the delegated environmental
regulation (Commission Delegated Regulation (EU) 2023/2486) and the delegated climate regulation amendments (Commission
Delegated Regulation (EU) 2023/2485). This possibility has been used for the taxonomy reporting for the 2025 financial year.
General
The European Union's Taxonomy Regulation 2020/852 provides the basis for the EU Taxonomy Classification System, which
lists climate and environmentally sustainable economic activities. Companies are required to publish information on the share of
revenue, investments and operating costs of taxonomy-eligible businesses. None of Eezy's products and businesses fall within
the taxonomy sectors to be reported.
Taxonomy reporting
The taxonomy defines six main environmental objectives against which the company’s different economic activities are
assessed. These environmental objectives are: (a) climate change mitigation, (b) climate change adaptation, (c) sustainable use
and protection of water and marine resources, (d) transition to a circular economy, (e) pollution prevention and control, and (f)
protection and restoration of biodiversity and ecosystems.
Eezy discloses, for the 2025 financial period, its taxonomy eligible business activities in terms of all six environmental target.
Business disclosures include the share of revenue, capital expenditure and operating expenditure. An economic activity is
considered taxonomy-aligned if it contributes substantially to one of the defined environmental objectives and causes no
significant harm to the other objectives. In addition, the activity must meet minimum social safeguards. Eezy has carried out its
assessment of taxonomy eligibility and taxonomy alignment based on the EU Taxonomy Regulation, the Climate Delegated Act
and the best interpretation of the currently available guidelines issued by the European Commission. Eezy's management has
assessed whether the economic activities identified in the taxonomy meet the taxonomy eligibility criteria. Eezy’s interpretation
is that none of its business operations belong to the sectors covered by the Taxonomy.
Reporting principles
Revenue
Eezy applies the same IFRS-compliant accounting principles applied in the consolidated financial statements. The overall
revenue used to calculate the key figure corresponds to the revenue disclosed in the consolidated financial statements. The
accounting principles used for turnover are presented in Note 3 in the consolidated financial statements.
Capital expenditure
Eezy’s taxonomy-eligible capital expenditure includes additions to tangible and intangible fixed assets, including any additions to
right of-use assets recognised based on long-term lease agreements. Any increase in goodwill recognised for acquisitions is not
included in the capital expenditure specified in the Taxonomy. These items are handled in accordance with IAS 38 Intangible
Assets, IAS 16 Property, Plant and Equipment, and IFRS 16 Leases - standards. Additions to intangible assets are presented in
Note 15 and additions to property, plant and equipment in Note 16 in the consolidated financial statements.
Operational expenditure
Eezy’s taxonomy-eligible operating expenditure includes research and development expenditure recognised as costs, facility
maintenance expenses including rents from short-term lease agreements, machinery and equipment rents from short-term lease
agreements and small purchases of machinery and equipment. Operating expenses are presented in Note 8 other operating
expenses in the consolidated financial statements.
Proportion of revenue, capital expenditures and operational expenditures related to economic activities according to
the classification system
0 % of Eezy’s revenue, capital expenditure and operational expenditure have been taxonomy-eligible, both in 2025 and 2024.
Therefore, the company has had no Taxonomy-aligned operations in 2025 and 2024.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 27
Proportion of revenue from products or services associated with Taxonomy-aligned
economic activities – disclosure covering year 2025
Financial year
2025
2025
Substantial contribution criteria
DNSH criteria
(Does Not Significantly Harm)
Economic activities
Code
Revenue
Proportion of revenue,
year 2025
Climate change mitigation
Climate change adoption
Water
Pollution
Circular economy
Biodiversity
Climate change mitigation
Climate change adoption
Water
Pollution
Circular economy
Biodiversity
Minimum safeguards
Production of
Taxonomy
aligned (A.1)
or eligible
(A.2) revenue,
year 2025
Category enabling activity
Category transitional activity
EUR
million
%
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y/N
Y/N
Y/N
Y/N
Y/N
Y/N
Y/N
%
E
T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-aligned)
Revenue from
environmentally
sustainable activities
(A.1)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
Of which enabling
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
E
Of which transitional
0.0
0 %
0 %
0 %
T
A.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
Revenue from
taxonomy-eligible but
not environmentally
sustainable activities
(not Taxonomy-
aligned activities) (A.2)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
A. Revenue of
Taxonomy alible
activities (A.1+A.2)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
B. TAXONOMY-NON-ELIGBLE
ACTIVITIES
Revenue of
Taxonomy-non-eligible
activities
139.3
100
%
TOTAL
139.3
100
%
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 28
Proportion of Capital expenditure (CapEx) from products and services associated with
Taxonomy-aligned economic activities – disclosure covering year 2025
Financial year
2025
2025
Substantial contribution criteria
DNSH criteria
(Does Not Significantly Harm)
Economic activities
Code
CapEx
Proportion of CapEx,
year 2025
Climate change mitigation
Climate change adoption
Water
Pollution
Circular economy
Biodiversity
Climate change mitigation
Climate change adoption
Water
Pollution
Circular economy
Biodiversity
Minimum safeguards
Production of
Taxonomy
aligned (A.1)
or eligible
(A.2) CapEx,
year 2025
Category enabling activity
Category transitional activity
EUR
million
%
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y/N
Y/N
Y/N
Y/N
Y/N
Y/N
Y/N
%
E
T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-aligned)
CapEx from
environmentally
sustainable activities
(A.1)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
Of which enabling
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
E
Of which transitional
0.0
0 %
0 %
0 %
T
A.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
CapEx from taxonomy-
eligible but not
environmentally
sustainable activities
(not Taxonomy-aligned
activities) (A.2)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
A. CapEx of
Taxonomy alible
activities (A.1+A.2)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
B. TAXONOMY-NON-ELIGBLE
ACTIVITIES
CapEx of Taxonomy-
non-eligible activities
5.3
100
%
TOTAL
5.3
100
%
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 29
Proportion of Operational expenditure (OpEx) from products or services associated with
Taxonomy-aligned economic activities – disclosure covering year 2025
Financial year
2025
2025
Substantial contribution criteria
DNSH criteria
(Does Not Significantly Harm)
Economic activities
Code
OpEx
Proportion of OpEx,
year 2025
Climate change mitigation
Climate change adoption
Water
Pollution
Circular economy
Biodiversity
Climate change mitigation
Climate change adoption
Water
Pollution
Circular economy
Biodiversity
Minimum safeguards
Production of
Taxonomy
aligned (A.1)
or eligible
(A.2) OpEx,
year 2025
Category enabling activity
Category transitional activity
EUR
million
%
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y; N;
N/EL
Y/N
Y/N
Y/N
Y/N
Y/N
Y/N
Y/N
%
E
T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-aligned)
OpEx from
environmentally
sustainable activities
(A.1)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
Of which enabling
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
E
Of which transitional
0.0
0 %
0 %
0 %
T
A.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
EL;
N/
EL
OpEx from taxonomy-
eligible but not
environmentally
sustainable activities
(not Taxonomy-aligned
activities) (A.2)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
A. OpEx of Taxonomy
alible activities
(A.1+A.2)
0.0
0 %
0 %
0 %
0 %
0 %
0 %
0 %
0 %
B. TAXONOMY-NON-ELIGBLE
ACTIVITIES
OpEx of Taxonomy-
non-eligible activities
0.6
100
%
TOTAL
0.6
100
%
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 30
Eezy Group had no direct connections to nuclear energy or fossil gas-based energy production as referred to in Delegated
Regulation (EU) 2022/1214. Nuclear energy and fossil gas related activities:
Nuclear energy related activities
1
The undertaking carries out, funds or has exposures to the research, development, demonstration and
deployment of innovative electricity generation facilities that produce energy from nuclear processes
with minimal waste from the fuel cycle.
NO
2
The undertaking carries out, funds or has exposures to construction and safe operation of new
nuclear installations to produce electricity or process heat, including for the purposes of district
heating or industrial processes such as hydrogen production, as well as their safety upgrades, using
best available technologies.
NO
3
The undertaking carries out, funds or has exposures to the safe operation of existing nuclear
installations that produce electricity or process heat, including for the purposes of district heating or
industrial processes such as hydrogen production from nuclear energy, as well as their safety
upgrades.
NO
Fossil gas related activities
4
The undertaking carries out, funds or has exposures to the construction or operation of electricity
generation facilities that produce electricity using fossil gaseous fuels.
NO
5
The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of
combined heat/cool and power generation facilities using fossil gaseous fuels.
NO
6
The undertaking carries out, funds or has exposures to construction, refurbishment and operation of
heat generation facilities that produce heat/cool using fossil gaseous fuels.
NO
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 31
Social information
ESRS S1 Own workforce
ESRS 2 SBM-2 Stakeholder interests and views
Eezy describes in ESRS 2 General Disclosures SBM-1 Strategy, business model and value chain and ESRS 2 General
Disclosures SBM-2 Stakeholder interests and views how the interests, views and rights of its own workforce, including respect
for their human rights, are considered in the company’s strategy and business model.
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy
and business model
The Eezy double materiality assessment process was carried out in four main stages, described in Section IRO-1. The process
has considered Eezy's strategy, the different businesses and their business models, business relationships, stakeholders and
the whole value chain. The impacts, risks and opportunities related to Eezy's own workforce also stem from the company's
strategy and business model, as the Eezy workforce is at the core of Eezy's business. The internal workforce includes both
salaried employees and staffed employees employed by Eezy. Light entrepreneurs, employment service clients, headhunting
interviewees and coaching course participants are part of the value chain downstream as service users. The identified impacts,
risks and opportunities will be broadly reflected in the company's strategy and business model, and the theme of in-house
labour will be repeated throughout Eezy's 2024-2028 strategy. For example, the best talent is described as a competitive
advantage, enthusiastic and skilled people and attractive employers as keys to success, and skilled workers and a healthy work
community as part of Eezy's mission.
The double materiality assessment identified negative and positive impacts, risks and opportunities related to the in-house
workforce. As described in section IRO-1, the key sustainability issues for Eezy have remained unchanged. However, in the
2025 review of the dual materiality assessment, it was decided to combine some impacts, opportunities and risks. The updated
impacts related to the in-house workforce, together with the risks and opportunities, are detailed in the table below.
Impact, risk,
opportunity
Description
Position in the
value chain
ESRS/entity-
specific
disclosure
requirement
S1 Own labour force
Positive, actual
impact
Providing comprehensive occupational health care and other
preventive health and well-being measures. Eezy provides
comprehensive occupational health services that, at their best,
help prevent work-related illnesses and stress.
Own operations
ESRS
Positive, actual
impact
Enabling and promoting work-life balance. Eezy supports its
employees in managing their working time and offers low-
threshold services to reduce stress and flexible work that can be
adapted to their own life situation.
Own operations
ESRS
Positive, actual
impact
Ensuring good working conditions and responsible practices for
employees. For its part, Eezy ensures good working conditions in
its client companies and promotes fairness and employee interests
in contractual practices.
Own operations
ESRS
Positive, actual
impact
Developing skills and enabling career development for staff. Eezy
offers its staff development opportunities that match their interests,
such as a wide range of career opportunities, coaching courses
and on-the-job training.
Own operations
ESRS
Positive, actual
impact
Promoting diversity and inclusiveness in the workplace through
equal and non-discriminatory recruitment and by promoting and
maintaining equal pay. Respect and equal treatment of all groups
of people and ensuring equal treatment through the development
of the recruitment process, the implementation of specific
measures, and the elimination of pay for performance (equal pay
for equal work) and unexplained pay gaps.
Own operations
ESRS
Negative, actual
impact, systemic
Mental and physical stress factors at work plus possible accidents
and incidents. Various strain factors, such as stress, time
pressure, non-ergonomic working positions, etc. Eezy's different
client sectors (e.g. events, construction, industry, doctors). In
particular in Eezy's industrial, construction and logistics client
sectors, which are often more accident-prone than, for example,
office work.
Own operations
ESRS
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 32
Negative potential
impact, individual
incidents
Unsatisfactory and/or unfair working conditions, unfair treatment.
Staffed employees in particular may be more vulnerable to
potentially poor working conditions (e.g. working hours, shift work)
and/or terms and practices, such as forms of employment
contracts and contractual practices, job insecurity and pay
inequality.
Own operations
ESRS
Negative potential
impact, individual
incidents
Personal passivity and frustration due to poor educational and
development opportunities and emotional distress due to
perceived inequality and/or discrimination. Any discrimination or
inequality in pay, employment, training or promotion opportunities
experienced by Eezy employees will lead to frustration,
demotivation and stagnation of career progression if meaningful
development and training opportunities are not available.
Own operations
ESRS
Negative potential
impact, individual
incidents
Data breaches caused by inadequate or deficient security
measures and the resulting potential leakage of personal data.
Own operations
ESRS
Opportunity
A strong and attractive employer image to increase employee
retention and attraction. Fair working conditions (e.g. pay, benefits
in kind and a variety of work solutions), investment in work-life
balance and well-being at work can enhance Eezy's employer
image and contribute not only to recruitment but also to retention.
Own operations
ESRS
Opportunity
The impact of possible flexibility in working conditions on labour
supply. A more employment-incentive social security system, if
implemented because of government policy, may increase labour
availability and facilitate recruitment.
Own operations
ESRS
Opportunity
Recruiting labour from abroad can contribute to Eezy's business
and revenue growth. The service and support Eezy provide in
terms of responsible recruitment, paperwork and orientation can
increase the willingness and ability of companies to recruit from
abroad. This can translate into increased customer loyalty and
revenue for Eezy.
Own operations
ESRS
Opportunity
Providing training and growth opportunities and good orientation to
improve employer image and retention. Broad and varied training
and development opportunities can be a differentiating factor for
Eezy's employer image compared to other operators, thus
increasing Eezy's attractiveness and employee retention.
Own operations
ESRS
Opportunity
Maintaining and improving service quality through staff training.
Well-trained and skilled staff are a positive differentiator and can
help maintain and grow customer loyalty and Eezy's operations
Own operations
ESRS
Risk
Reduced capacity to operate due to difficult access to labour.
Tightening labour immigration, fierce competition from other
players and retirements will further hamper the availability of
skilled labour, increasing costs and potentially limiting business
growth.
Own operations
ESRS
Risk
Poor retention of staffed employees and weak loyalty and
attractiveness due to poor working conditions and conditions. If
Eezy is not able to provide sufficient job opportunities for
temporary workers (e.g. after the end of a fixed-term contract) or if
the jobs offered by Eezy are not sufficiently varied and interesting,
staffed employees may not commit to Eezy. This may
correspondingly increase the cost of recruiting labour for Eezy. If
the services, benefits and conditions offered by Eezy are not
competitive or contain uncertainty and inequality, staff will not be
committed to or satisfied with Eezy.
Own operations
ESRS
Risk
The costs of accidents at work and sick leave. For example, high
labour turnover rate or inadequate training can lead to safety risks
and accidents. In addition, physically demanding work increases
the risk of musculoskeletal disorders. Various mental stress
factors can lead to sickness absence, for example related to
exhaustion.
Own operations
ESRS
Risk
Failure to train staff on the right issues for Eezy's operations or in
a way that is unattractive to staff, resulting in poor customer
relations and service levels, production stoppages or other service
disruptions. Without knowledge of the different forms and scope of
staff competences, it is not possible to fully exploit their potential.
Job satisfaction, motivation and commitment can suffer. For
example, poor induction of staffed employees or inadequate skills
mapping of office staff can lead to customer dissatisfaction or even
production stoppages or other disruptions to customer operations.
These may in turn have legal or financial consequences for Eezy,
Own operations
ESRS
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 33
such as loss of revenue if a customer switches to another service
provider.
Negative potential
impact, systemic
Unethical use of AI. Possible negative impacts are related, for
example, to unclear practices or a lack of transparency about how
AI is used in recruitment. The impact may increase in the longer
term.
Own operations
ESRS
Eezy has strived to identify employee groups at risk by analysing data from, among other things, working hours monitoring
systems, occupational health surveys, the early intervention model and employee engagement surveys. Eezy's staffed
employees include representatives of dozens of different occupational groups working in a wide range of sectors. For staffed
employees, risk groups have been identified based on criteria such as:
• Young age: in 2025 more than 50% of Eezy’s staffed employees were under 30. Many are still learning work life skills.
• Poor language skills and/or cultural differences predispose to a poor experience of inclusion and difficulties in
understanding instructions or conditions. In 2025, Eezy employees represented 106 nationalities.
• The sector:
o in industry and construction, the work is more physically demanding than average
o work in the health and social services sector is associated with higher-than-average risks of mental stress
o in sectors with shift work, working hours increase the risks associated with stress management
o in the horeca, manufacturing and construction sectors, the risks of accidents are higher than average
S1-1 Policies related to own workforce
The relevant policies for material impacts, risks and opportunities related to our own staff can be found in Eezy's Code of
conduct. The Eezy Code of conduct guides respect for human rights, equality and safety in working conditions and applies to all
Eezy operations and stages of the value chain, including the geographical areas in which the company operates. The Code
applies to all employees, including the company's own employees and staffed employees.
The aim of the Code of conduct is to create a safe, equal and diverse working environment that supports employees' well-being
and enables their professional development. In the context of the workforce, the document addresses the relevant impacts, risks
and opportunities through the following themes: equal, equitable and inclusive working life, safe working environment, freedom
of association, non-discrimination, respect for human rights, anti-bribery and corruption, protection of personal data,
whistleblowing, monitoring of compliance with the Code and monitoring of non-compliance.
Policy development process and availability
The company's Board of Directors is responsible for approving and monitoring the policy. The corporate Sustainability and
Human Resources Committee supports the Board and is responsible for assessing the appropriateness of the policy.
The views of key stakeholders, such as employees and partners, have been considered in the development of the policy. Eezy
offers its stakeholders the opportunity to contribute to the development of the policy. The Code of Conduct is available to
employees and stakeholders and is discussed at staff meetings and training sessions.
All Eezy office staff members have completed the Code of Conduct online training in 2025. The course is also part of the
induction process for new staff.
For staffed employees, a new digital induction course was introduced into the Eezy employee application in November 2025. It
includes information on the Code of Conduct. Verified completion of the course is a prerequisite for a new staffed employee to
be able to take up shifts.
An equal working life with respect for human rights
Eezy respects the human and labour rights of all workers. These are a key part of the company's values and policies. The
company's valid Code of conduct is in line with internationally recognised human rights principles. We actively work within these
principles to ensure that all employees are treated fairly and equitably.
In developing the Code of conduct, consideration has been given to the UN Global Compact, the principles of the ILO
Declaration on Fundamental Rights at Work, the human rights as defined by the UN Declaration on Fundamental Rights, and
other UN principles on business and human rights, including the UN Declaration on Human Rights, the UN Convention on Civil
and Political Rights, the UN Convention on Economic, Social and Cultural Rights, and the OECD Guidelines for Multinational
Enterprises. These principles guide our actions and ensure that we respect and promote human rights in all aspects of our
business.
These principles ensure that employees' rights are protected and that Eezy acts as a responsible employer that promotes a
positive and inclusive working environment. The company's Code of conduct, Equality and Diversity Plan, Occupational Health
and Safety Action Plan and Workplace Development Plan ensure that all employees are treated equally and fairly.
We will not allow measures that restrict the free movement of workers. Such measures include the taking over of identity
papers, passports or work permits by the employer as a condition of employment.
We do not accept human trafficking, modern slavery, forced labor, or any other form of exploitation.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 34
In international recruitment, we actively cooperate with Finnish and foreign authorities. We investigate the backgrounds of our
partners abroad and their compliance with international human rights agreements through separate audits or other measures of
a similar level before we begin cooperation with them. We are committed to acting in accordance with international guidelines
for recruitment in the staffing sector and require the same of our partners. At our request, our customers, partners and
stakeholders must explain how they monitor human rights in their own operations and supply chain.
We ensure that our international recruitment processes are ethical, lawful, and responsible. Our internal processes must help
and support the integration, training, and work of employees who come to Finland through us. We also guide our customers and
work community in welcoming people from different cultures and treating new employees equally. Applicants are not charged
any agency or recruitment fees at any stage of the process.
Any cases of abuse will be addressed, and corrective action will be taken as agreed without delay. If corrective action is not
taken within the agreed timeframe, we will immediately terminate the cooperation.
We do not accept the use of child labour, forced labour or unjustified or illegal withholding of wages. A person under 15 years of
age is a child, and a young person older than 15 years of age is also considered a minor if local law so defines. Eezy
occasionally employs people under the age of 18. We recognise that they have special needs, for example in terms of pre-
employment and induction. We comply with the restrictions of Finnish law in the employment of underage workers.
The principles of equality and equal treatment cover all forms of employment, including training, career development and the
whole life cycle of the employment relationship. Recruitment processes are based on equal and non-discriminatory treatment
and the requirements of the law. We respect collective agreements and labour legislation in the terms and conditions of our
employment relationships and in our remuneration. We have our own internal processes to ensure that employees are paid
correctly and on time in accordance with the applicable collective agreement and labour law. The terms and conditions of
employment and remuneration of our employees working for our clients are determined by the collective agreement applicable
to the client, unless their employment is governed by collective agreements applicable to Eezy.
We are committed to diversity and inclusion, ensuring that all our employees have equal opportunities to succeed and develop
in their work. The focus of the Equality and Diversity Plan is to ensure equal opportunities in recruitment, career development
and pay, to reconcile work and family life and to prevent direct and indirect discrimination.
Orientation and dialogue
We ensure that all our employees receive the necessary training from both Eezy and the client company. We comply with all
applicable legislation on safety and well-being at work. We continuously improve the safety at work of people working for us or
our clients. Together with our customers, we ensure that our employees have received adequate occupational health and safety
training and task-specific work equipment, in accordance with the tasks and environment in which they work. We ensure that
our clients understand their own responsibility for the safety of their employees.
These principles ensure that employees' rights are protected and that Eezy acts as a responsible employer that promotes a
positive and inclusive working environment. The company's Code of conduct, Equality and Diversity Plan, Occupational Health
and Safety Action Plan and Workplace Development Plan ensure that all employees are treated equally and fairly.
Active and open dialogue with the staff is a key part of our corporate culture.
Eezy internal infos bring together the Group's employees virtually at least four times a year - and more if necessary. Each
interim report is accompanied by an Eezy info, held online and at a selected location, to report on the past quarter and future.
Before the event, there is often an opportunity to send anonymous questions. Questions can also be asked during the event.
The employees have a common intranet, a newsletter and a Teams channel to facilitate, clarify and speed up internal
communication, increase transparency and lower the threshold for direct communication both across business boundaries and
between management and staff. The ideas of staff are heard annually through an annual employee engagement survey and
subsequent pulse surveys. Based on the results, Eezy invests in areas for improvement through development projects and
measures at Group, business and team level.
Dialogue with staffed employees takes place between the worker and the Eezy contact person and between the contact person
and the client company. Information on current company issues is communicated through employee newsletters among others.
Staffed employees have the possibility to report any irregularities, for example in relation to safety at work, that they have
detected in the client companies to their own HR contact person. Alternatively, grievances can be reported through Eezy's open
whistleblowing channel and, in cases of inappropriate behaviour, directly to the harassment liaison officer. Eezy regularly
measures the eNPS of staffed employees working in client companies. Feedback from these surveys is dealt with by contacting
the client company. The possibilities for dialogue for staffed employees, including through the app launched in 2025, will be
actively developed, with the aim of having live messaging functionalities in place during 2026.
The Eezy Sustainability Working Group helps to develop, coordinate and communicate sustainability work within the Eezy
Group. The aim of this work is to ensure that the different business perspectives are included in Eezy's sustainability work. The
members of the working group represent a broad range of business functions and roles. Each member is responsible for
bringing their own perspective to the work, contributing their experience, insight and expertise to Eezy's sustainability work, and,
driving the sustainability message forward in their own business unit or function. The working group meets once a quarter, in
addition to maintaining ongoing communication on current issues and contributing to unit-specific development tasks.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 35
Dealing with conduct that contravenes the Code of conduct
Conduct that violates the Eezy Employee Code of conduct will be dealt with in accordance with Eezy's internal guidelines.
Depending on the seriousness of the situation, conduct in violation of the Code may lead to various consequences under
employment law and even to termination of employment through dismissal or termination.
Any suspected breach of the Code of conduct by an Eezy stakeholder or partner will be investigated with the relevant party. If a
stakeholder or partner is found to have acted in breach of this Code, they must correct their actions as agreed with Eezy.
Eezy will stop working with a stakeholder or partner who:
• Fails to follow a commonly agreed policy to stop activities that breach the Code of Conduct.
• Repeatedly acts in violation of Eezy's Code of conduct.
• Has knowingly acted in violation of the Code of conduct; and
• Has deliberately tried to conceal or covered up an activity that contravenes Code of Conduct.
Safety at work
To prevent accidents at work, Eezy has an occupational health and safety organisation with personnel representatives from
different business units. Occupational health and safety are a joint effort and concerns every employee. The principles of
occupational health and safety are described in an action plan on the intranet, which aims to ensure safe and healthy working
conditions and to support employees' well-being and ability to work. Effective occupational health and safety is based on a risk
assessment and cooperative plans to eliminate or mitigate risk factors wherever possible. Each year, the head of the health and
safety and the health and safety committee identify hazards and assess risks together with the working units. Ensuring safety at
work for staffed employees requires close cooperation with client companies to ensure that safety findings and accidents at
work are properly handled and better practices to prevent them can be developed.
Every employee must be aware of the hazards of his or her job and working environment, follow the safety instructions and
report any deficiencies to the supervisor or health and safety representative. The induction for new staffed employees includes a
detailed sector-specific safety guidelines, Eezy's Code of Conduct and Safe Space Policy, and procedures for dealing with
accidents, near misses, inappropriate behaviour and harassment. More experienced workers also provide guidance to their
newer colleagues on safety at work. It is the responsibility of line managers to ensure that safety instructions are followed and
that any shortcomings are rectified as soon as possible.
The workplace survey is part of statutory occupational health care and is used to assess health risks and stress factors arising
from work, the work environment and the work community. Occupational health staff assess the impact of working conditions for
health and safety at work based on information, observations, discussions and, if necessary, measurements collected during
workplace visits. In addition, interviews and questionnaires are used to determine the working atmosphere and stress factors.
Working conditions in client companies are assessed based on workplace assessments and risk assessments. The
occupational health service plans the necessary checks and follow-ups for staffed employees. The company has a range of
indicators to assess the effectiveness of its safety measures. We regularly monitor accident statistics, review safety findings and
evaluate the effectiveness of measures. This information enables us to continuously improve our practices and to react quickly
to any shortcomings identified.
Addressing harassment or mistreatment
Eezy has defined the principles of discrimination in its Code of conduct, Equality and Diversity Plan and Harassment and
Inappropriate Treatment Policy. These policies aim to eliminate discrimination and harassment and promote equal opportunities.
Discrimination and harassment are prevented by tackling prejudice, developing the work community, maintaining social
networks and training. Staff are familiarised with the harassment and inappropriate treatment policy, the workplace code of
conduct and the principles to be followed in the workplace. It is the duty of supervisors to observe the interactions between staff
in the workplace and to draw attention to any harassment or inappropriate behaviour and, if it occurs, to intervene immediately.
The issue is also monitored as part of the employee surveys. The results of the survey are reviewed on a team-by-team basis
and action plans are put in place to address any challenges identified.
Supervisors and health and safety representatives are familiarised with the harassment and inappropriate treatment policy and
are also provided with the necessary support to deal with situations. However, if the workplace's own expertise is not sufficient,
support is available, for example, from occupational health professionals. Eezy has a designated harassment liaison officer to
advise and support employees who experience harassment, molestation, bullying or other forms of unequal treatment. A harm
and risk assessment (risk mapping) to promote safety and health at work identifies the presence of harmful harassment and
inappropriate treatment and based on the assessment, changes are made to the circumstances where necessary. Ongoing
monitoring of working conditions will pay attention to the implementation of the policy. The effectiveness of the policy is
evaluated at the workplace and by the health and safety committee.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 36
Non-discrimination
We treat all people equally and provide equal opportunities in working life regardless of an individual's appearance, ethnic
group, origin, religion or beliefs, gender, sexual orientation and its expression, age, disability, marital status, or family
background, or any other characteristic defined by legislation or regulations. The prohibition of discrimination covers all
situations in working life, from recruitment to the end of employment.
Recruitment, placement in various positions, and career advancement are carried out equally, regardless of a person's ethnic
background, age, disability, or other factors related to the person.
Working conditions are developed to suit both women and men. In physically demanding tasks, assistive devices and technical
solutions that promote well-being are utilized. The threat of violence is minimized through alarm systems, spatial solutions, and
staff training, among other measures. Work that poses a risk to the health of a pregnant mother or fetus is not performed, and
pregnancy is taken into account in work arrangements. Disabled persons are provided with the necessary adjustments in the
workplace to enable them to perform their duties.
The employer guarantees everyone equal opportunities to balance work and family life.
The employer pays the same task-based salary for the same work for all. Equality is assessed in terms of job requirements,
skills, workload, and working conditions. Job requirements are assessed based on the demands of the job – the characteristics,
gender, age, or family circumstances of the employee performing the job do not affect the assessment.
The employer shall, as far as possible, ensure that employees are not subjected to sexual harassment or harassment in the
workplace. The employer is obliged to intervene in cases that come to their attention.
Promoting diversity
Our policy on diversity and inclusion is implemented through several specific procedures. The company's Management team is
committed to promoting diversity and inclusion, and they ensure that the policy is put into practice throughout the organisation.
In addition to extensive orientation, we organise training for staff to promote diversity and inclusion from a variety of
perspectives. We also communicate widely, both to external and internal stakeholders.
Promoting diversity and inclusiveness in the workplace fosters a sense of community, improves employee engagement and
promotes innovation. This requires conscious action in recruitment, training and day-to-day management. In our recruitment
process, we pay particular attention to anti-discrimination and diversity practices for applicants. Our recruitment officers are
trained in this area. Our aim is to ensure that every applicant has a fair chance of being selected for a position. We also
encourage and help our clients, for example, to improve their recruitment practices.
Eezy's Code of conduct also includes a commitment to inclusion or positive action for people who are particularly vulnerable in
the company's own workforce: 'We are a major Finnish employer, offering diverse employment and career transition
opportunities for all - young people, retirees, immigrants, light entrepreneurs, gig workers and permanent employees. We help
people find employment by providing job skills training for people who are hard to employ, career changers and immigrants, for
example."
We have confidential channels through which employees can report discrimination or other inappropriate situations. All reports
are dealt with promptly and any necessary corrective action is taken immediately.
Through these procedures, we ensure that our business environment is safe and fair for all employees, and that diversity and
inclusion are at the heart of our principles.
S1-2 Processes for engaging with own workforce and workers’ representatives about
impacts
Eezy actively seeks to take employees' views into account at all stages of the decision-making process. Eezy regularly consults
its employees and collects feedback through various channels to ensure that their voice is heard and considered in the
development of its activities. This helps to identify potential impacts on the workforce and manage them effectively.
Communication with Eezy's own workforce takes place in several stages and involves a variety of communication methods. The
communication channels are intended for handling all impacts.
Eezy listens its employees and assesses the effectiveness of its communication with its own workforce through regular
employee surveys and feedback interviews. Surveys measure staff satisfaction, engagement and participation. These results
are used to analyse potential areas for improvement and to plan measures. Effectiveness will be closely monitored and, where
necessary, further measures will be taken to improve communication and employee involvement. The 2025 staff survey asked
about the experience of consulting staff when decisions affecting them are taken, which resulted in a score of 2.29 (2024: 2.62),
compared to the Finnish staff norm of 2.60.
Staff are kept informed of current issues through regular briefings open to all, which are held at least four times a year. These
events are complemented by ongoing communication through internal channels such as e-mail, intranet and Teams. Staff are
actively given opportunities to contribute ideas, ask questions to the management team and provide feedback (e.g. on the
content of the sustainability programme and internal communication), including anonymously. Active and multi-channel internal
communication aims to facilitate, clarify and accelerate internal communication, increase transparency and lower the threshold
for direct communication both across business boundaries and between management and staff.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 37
Dialogue with staffed employees takes place between the worker and the Eezy HR contact person and between the contact
person and the client company. Information about current issues concerning the company is communicated through public
channels, customers' (employing companies) channels, Eezy applications (customers and staff) as well as newsletters and
continuous eNPS surveys. Opportunities for dialogue with staffed employees via the app (introduced in 2025) are being actively
developed.
Occupational health and safety issues are discussed with all staff on a regular basis and when necessary. Employees have the
opportunity to influence and participate in matters concerning safety and health in the workplace through joint health and safety
activities.
Eezy strives to hear the views of people who may be particularly vulnerable to influences, for example through the biennial
survey conducted by the Finnish Human Resources Association (HELA) and the channels specified in S1-3. An important part
of preventive work is to actively consider special groups (e.g., age, language skills, high-risk sectors) in everyday work by HR
contact people with staff and clients plus while onboarding new employees.
Eezy complies with the collective agreement applicable to the employment relationships of its employees. The collective
agreements contain provisions on the information rights of workers' representatives, compensation and specific protection
against dismissal. The rights of workers' representatives, prohibitions on retaliation and enhanced protection against dismissal
are also ensured by the labour legislation in force, which Eezy complies with.
Operational responsibility for ensuring communication, taking account of results and integrating staff views into the business
strategy lies with the Chief Corporate Officer for office staff, who reports directly to the CEO. The Group Chief Corporate Officer
is responsible for the strategic planning of staff communications. The development of the dialogue with staffed employees is the
responsibility of the Staffing Business Directors and their teams.
S1-3 Processes to remediate negative impacts and channels for own workforce to raise
concerns
We assess mental and physical stress factors as part of the employer's risk and hazard assessment and in cooperation with
occupational health when conducting workplace surveys. We take stress factor management into account when drawing up and
annually updating our occupational health care action plan. In cooperation with our client companies, we identify the stress
factors of our staffed employees by requesting their workplace surveys or risk and hazard assessments. We are in constant
dialogue with our clients and work together to solve any stress problems. Help for mental health issues is available through
occupational health services. Preventive content is also available.
We take care of the occupational safety of both our own employees and staffed employees in cooperation with our customers.
Eezy has an active health and safety committee, which is responsible for the safety of Eezy's own employees and for
developing the safety of staffed employees in cooperation with our client companies. Accident monitoring is carried out in
cooperation with the occupational health service based on accident statistics.
We comply with collective agreements and legislation. We encourage employees to give feedback on working conditions and
the working environment. Employees' concerns and experiences of unfair treatment are taken seriously; situations are
investigated and identified grievances are addressed. It is important to us that our staffed employees feel that they are equal
employees in their place of work. This is where we work with our client companies.
We have regular discussions with our employees about their development goals to ensure that everyone can progress in their
work and achieve their personal dreams. We encourage professional development, much of which takes place through practical
work and interaction with others. We also organise internal training and, where necessary, provide external coaching. We want
to ensure that Eezy and Eezy employees are fit for the future.
The process of recruiting foreign workers has been audited by a third party. It excludes the possibility of human trafficking and
verifies compliance with labour law. Eezy's ERP system is linked to the validity of work permits and certificates required to
perform the work, and for example, payment of wages requires a personal account number to prevent abuse. For imported
labour recruited from third countries, we commit our clients to a 12-month work period as a starting point to ensure that the
worker is well settled in Finland. Eezy provides support throughout the employment relationship for both the client and the
worker.
Data protection issues are an extremely important part of good governance and sustainability work for Eezy. The company has
established a data protection and information security organisation based on the EU General Data Protection Regulation
(GDPR) and has operational processes to ensure appropriate data protection and security. The processing of personal data is
based on the current data protection and security policy. Data protection training is part of our orientation programme, and we
regularly train our staff on data protection practices. Eezy also has a policy on the responsible use of AI and has made it known
to staff.
Channels for raising concerns and whistleblower protection
In addition to reporting to the supervisor and HR, employees have access to an anonymous reporting channel and a
Harassment Liaison Officer. We ask our employees to bring to our attention any experiences they may have had, for example,
of inequality, discrimination or other forms of abuse. We stress that grievances should be reported so that they can be
addressed.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 38
Incidents of harassment brought to the attention of the Harassment Liaison Officer are dealt with in accordance with the policy,
documented and the effects of the measures taken are monitored until it can be established that the situation has been rectified.
An anonymous summary of the cases is discussed, for example, in the health and safety committee and, if necessary, with the
occupational health service, e.g. to update the action plan. Feedback on the role of the harassment liaison officer, the approach
and the effectiveness of the channel is planned to be sought in the annual staff surveys. Feedback on the role of the
harassment contact person, the operating model, and the functionality of the feedback channel is also requested from
customers.
Information on notification channels is included in each employee's orientation materials. The annual People Power survey asks
employees whether they know how to report misconduct. In the 2025 survey, 92% responded that they knew this completely or
partially (2024: 87%).
All reports received through the whistleblowing channel will be handled in accordance with Eezy's Whistleblowing Policy. In
2025, 10 notifications were received through the whistleblowing channel. None of the reports met the definition of misconduct
under the EU Whistleblowing Directive. There were 0 whistleblowing reports in 2025 relating to unsatisfactory and/or unfair
working conditions and/or unfair treatment, which resulted in action being taken.
Eezy has appointed a dedicated Whistleblower Protection Team to investigate allegations of misuse that arise from Abuse
Reports. Reports made through the Whistleblowing channel can only be handled by designated members of Eezy's
Whistleblower Protection Team. Their actions in investigating the allegation are recorded in a system log so that the accuracy of
the action can be verified afterwards if necessary. Activities related to the investigation of a reported suspected abuse are
strictly confidential.
During the investigation process, the Whistleblower Protection Team may request information and expertise from other persons
as necessary to investigate suspected wrongdoing. They may only process information that is necessary for the investigation of
the case. They are bound by the same confidentiality requirements as the members of the Whistleblower Protection Team.
Where a person reports a concern directly to a member of the Supervisor or to the Whistleblower Protection Team in their own
name, the investigation of the allegation shall be conducted in accordance with these guidelines.
Eezy complies with both the EU Whistleblowing Directive and Finnish national legislation. Eezy has a Code of conduct and a
Whistleblowing Policy, both of which deal with the protection of whistleblowers from retaliation. In addition, a separate privacy
statement has been drawn up on the processing of personal data. Eezy's whistleblowing notifications and investigations comply
with the EU General Data Protection Regulation and Finnish legislation on the processing of personal data.
Eezy will not accept any direct or indirect negative consequences for a person who reports suspected misconduct. We will
immediately intervene if such behaviour occurs. As a matter of principle, the whistleblower will always be protected by full
anonymity, unless the report is made under their own name or otherwise identifiable by context. Eezy protects the person who
has reported abuse, both anonymously and under his or her own name, from any direct or indirect retaliation or reprisal.
Whistleblower protection applies to persons who have made a good faith report of possible misconduct under the Whistleblower
Protection Act by Eezy, or a person employed by Eezy. Accordingly, a whistleblower who raises a reasonable suspicion of
wrongdoing is not at risk of losing their job or suffering any other direct or indirect consequences because of their report. The
existence of misconduct is not a precondition for protection. Protection is available if the report is made in a genuine belief in the
existence of possible wrongdoing.
The result of the investigation will be explained to the person who made the report under their own name or otherwise
identifiably, in the same way as to the person who made the report anonymously. However, the report shall be provided
considering the need to protect the privacy of third parties, data protection requirements and other confidentiality considerations.
The identity of the whistleblower may be disclosed if the perceived wrongdoing leads to criminal or other legal proceedings. The
whistleblower protection service may collect personal data about the person identified in the report, the person sending the
report (if the report is not sent anonymously) and possible third parties in connection with the investigation of the suspected
wrongdoing.
S1-4 Taking action on material impacts on own workforce, and approaches to mitigating
material risks and pursuing material opportunities related to own workforce, and
effectiveness of those actions
The prevention and mitigation of material adverse impacts on the workforce, risk management, and the enhancement of positive
impacts and related opportunities are an integral part of Eezy’s operations. Eezy’s management structures were reformed in
2025 with the aim of bringing responsibilities closer to business operations.
After the changes, the Group-level HR team consists of four people (December 31, 2025). The Group's HR team is responsible
for various areas of human resource management, such as employment matters, strengthening the work of supervisors, HR
reporting, assessing the demands of roles, and employee well-being, work ability, and occupational safety. Payroll accounting
for both permanent and temporary staff has been outsourced to a partner.
The overall management of staffed employees' contracts, work ability, well-being at work, and competence development is led
by the Staffing Services BU, which is supported by the Group's HR team in areas such as occupational safety management.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 39
The Sustainability and Communications Manager, together with the members of the sustainability working group, complements
and supports the work of both the HR team and the business operations in relation to the impacts, risks, and opportunities
associated with Eezy's own workforce.
Mental and physical stress factors at work
Eezy is committed to ensuring good working conditions and fair terms of employment for both its own employees and staffed
employees working for its client companies. Responsible contracting practices ensure that the interests of employees are
always taken into account.
The work ability management development project implemented between 2023 and 2025 has proven its effectiveness. It has
strengthened the ability to anticipate and identify work ability risks. The digital tools provided by occupational health care
facilitate the detection of work ability risks and the monitoring of short-term recurring and long-term sick leave by providing real-
time information to supervisors, human resources management, and the occupational health team to support work ability
management. For staffed employees, the introduction of digital tools had to be postponed due to a system reform and a change
in occupational health care providers.
Workplace visits and workplace surveys in accordance with the occupational health care action plan were used to identify
hazards and risk factors in the workplace and to assess factors that place strain on personnel from a preventive perspective.
Several workplace surveys were conducted in 2025. The working conditions of client companies were assessed on the basis of
workplace surveys and/or hazard and risk assessments provided by them. Based on these, occupational health care planned
the necessary occupational health examinations and health monitoring for staffed employees. Workplace surveys also reveal
possible exposures at work. Physical stress factors and hazardous working conditions are seen as potential impacts that can be
prevented through good induction training, appropriate protective equipment and tools, and work management measures.
Occupational health care services worked with the occupational safety and health organization to monitor workloads and well-
being at work and to develop activities that maintain work ability.
Flexible working hours play a key role in reducing workload. Staffing allows workers to largely determine their own working
hours. Eezy's broad customer base offers a variety of opportunities to work in a way that suits one's own life situation. Flexible
working hours are also commonplace for office workers, and workloads were monitored regularly.
Staff were encouraged to engage in physical activities and take the initiative to maintain their working capacity. Eezy supported
its office workers by offering them the opportunity to use one hour per week for voluntary exercise during working hours.
Due to the increasing mental pressure and stress in working life, it is important to also focus on supporting the mental health of
employees. Eezy increased mental health awareness and supported its staff directly and through supervisors using a variety of
communication methods. One example is the reform of meeting practices implemented in 2025, in which the default settings of
the calendar booking system for office staff were set to include at least 5–10-minute breaks between meetings.
Mental health-related sick leaves decreased in 2025. Our goal is to further reduce F-diagnosis-related absences in 2026.
Potential accidents and incidents
We take care of the safety of staffed employees in cooperation with our clients. Staffed employment takes place in client
companies, and the jobs are in different sectors. Based on our workplace surveys and/or hazard and risk assessments, visits to
client companies, feedback and incident reports, we also seek to improve the working environment for staffed employees, even
though they work in client companies. Continuous development and strengthening of a safety culture at all levels of the
organisation helps to create an environment where safety at work is a shared value and priority for all. Since workplace
accidents have a real impact, especially on staffed employees, we focus above all on improving occupational safety and
preventing accidents.
Measures taken in 2025 included the development of targeted induction practices and leadership- and management training for
supervisors. Actual accidents were reviewed with customers, and accident rates were also monitored on a customer-specific
basis in some cases. The frequency of accidents at work continued to fall significantly in 2025.
Eezy has an active health and safety committee, which is responsible for the safety of Eezy's own employees and develops the
safety of staffed employees together with our client companies. A representative of the occupational health service attends the
meetings of the health and safety committee. Accident monitoring is carried out in cooperation with the occupational health
service based on accident statistics, which are discussed at the health and safety committee meetings. The OSH Committee
proposes and plans the necessary development measures to improve safety at work. In the longer term, the aim is to develop
goal-oriented occupational safety and health activities to meet the needs of the sector and to develop cooperation with client
companies.
Eezy is committed to providing remedial action if real negative impacts are identified. The company has processes and systems
in place to receive and properly handle employee reports. Appropriate remedial action is taken in response to the reports. The
effects of these measures are regularly monitored to ensure that they are producing the desired results.
To prevent accidents at work, new induction materials tailored to various industries were introduced in 2025. A new digital
induction course for our staffed employees was launched in November 2025. Completion of the course is a prerequisite for new
staffed employees to be able to receive work assignments. The course includes comprehensive information in plain language
about their employment relationship, detailed industry-specific occupational safety instructions, Eezy's Code of Conduct and
Safe Space Principles, as well as instructions on what to do in the event of an accident, a near miss, or inappropriate behaviour
or harassment. It is also possible to take in-depth, voluntary additional courses in the same learning environment.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 40
Targets have been set to reduce the frequency and number of accidents. As part of the work ability management development
project, we improved our operating models and strengthened preventive measures, such as monitoring long-term sick leave.
Long-term sick leave poses a significant risk of work disability, and therefore its monitoring and management will continue to
receive particularly close and consistent attention. Our objective in 2025 was to reduce the number of long-term absences
among staffed employees by 20% through more proactive work ability management and by planning return-to-work measures
already at the early stages of work disability. However, due to a change in the occupational health care partner and the ERP
system during the reporting period, we are unable to provide precise statistics for 2025.
Unsatisfactory and/or unfair working conditions, unfair treatment
In 2025, we recruited around 250 people from abroad to work in Finland to meet our customers' needs. The process of
recruiting foreign labour has been audited by a third party. It excludes the possibility of human trafficking and verifies
compliance with labour law. Eezy's ERP system is linked to the validity of work permits and certificates required to perform the
work, and for example, payment of wages requires a personal account number to prevent abuse. For imported labour recruited
from third countries, we commit our clients to a 12-month work period as a starting point to ensure that the worker is well settled
in Finland. Eezy provides support throughout the employment relationship for both the client and the worker. Employers also
assist foreign workers with integration. Our goal is to make staffed employees feel welcome in Finland and treated as equal
members of the work community. This involves ongoing cooperation with our client companies.
In 2024, we did an assessment of our employees' job difficulty levels. Based on this, we made some salary adjustments in 2025.
The goal was to make sure that pay and rewards were fair and transparent. The assessment provided a structural basis for
comparing tasks and helped to support fair remuneration regardless of a person's background or position. The aim of the work
is also to promote the development of career paths and to engage and encourage staff to pursue professional growth.
Personal passivity and frustration due to poor educational and development opportunities
Eezy's strategy defines the core competencies required of the Group's employees, and their development is supported by a
competence development plan. A total of 3 050 hours were spent on training for office staff in 2025, divided into 508 training
days. The training day calculation is based on the training day defined in the tax deduction for training (6 hours).
In 2025, individual skills were supported by, among other things, training personnel in the new digital operating model and
enterprise resource planning system for Staffing Services. In addition, staff were offered training on current topics related to
diversity, information technology, and law. For staffed employees, more emphasis was placed on induction training through the
online learning environment. Staff were encouraged to engage in continuous self-development, and all employees were given
equal access to training.
Based on the responses to the personnel survey conducted among office staff, the question "My employer supports the
development of my skills" received a score of 2.82 (1–4), while the Finnish average for white-collar employees was 2.98. The
goal is to improve employee commitment and satisfaction by offering diverse development opportunities and to achieve a score
of 3.0 for the above-mentioned in the 2025 personnel survey.
In the fall of 2025, a series of management training sessions was held with the aim of strengthening consistent operating
practices and providing leadership support following organizational changes. The training strengthened the skills of supervisors
in three key areas. In administrative management, the goal is to ensure the smooth running of everyday processes, employment
contract matters, and decision-making, as well as operating in line with Eezy's values. In financial and customer relationship
management, the emphasis is on the ability to understand the unit's financial figures, manage operations based on data and
customer satisfaction, and grow customer relationships in line with the strategy. In managing one's own team and building a
unified corporate culture, the focus is on strengthening motivation and commitment, open communication and feedback,
developing common practices, and growing change management skills. Know-how was also shared in Eezy's Teams group for
supervisors and at regular meetings.
For Eezy as a company to achieve its strategic goals, everyone must be open to change and development. In the future, service
and supervisor jobs will require a high level of multi-tasking. Increasing the readiness of all staff for change and encouraging
continuous learning will be even more important in the future. The professional skills of staff, supervisors and management will
be developed in line with the company's business and service needs and the individual skills requirements of staff, considering
their long-term employability with their employer. The methods chosen to develop skills are those that are relevant and
appropriate to the participants, including self-organised development sessions, training provided by external experts, lectures
and group training. Development at Eezy is not just one-off training or coaching, but daily on-the-job learning. Given the high
churn rate of staff, it is important to increase knowledge-sharing practices. The importance of internal knowledge sharing among
staff will be emphasised in the future. The sharing of tacit knowledge will be considered in future in the development of
competences.
Mental distress due to perceived inequality and/or discrimination
Eezy operates in line with its equality and equal opportunities plan, which focuses on ensuring equal opportunities in
recruitment, career development and remuneration, reconciling work and family life and preventing direct and indirect
discrimination.
Eezy actively develops its employees' and stakeholders' understanding of diversity, equality, and inclusion. In 2025, the
company communicated on these topics monthly through multiple channels, both internally and publicly. These themes were
also highlighted in, for example, Eezy's public Safe Space Principles, staffed employee orientation materials, and the office
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 41
staff's digital course on ethical guidelines. In addition, expert presentations on anti-racist work and LGBTQ+ rights were
organized for office staff in 2025.
In line with its values, Eezy has defined its non-discriminatory and diversity-supporting recruitment process in a handbook. It
contains the basic principles, processes, and objectives of Eezy's recruitment and serves as a guideline for all Eezy's
recruitment activities. All our recruiters have been trained in the principles of equality and non-discrimination by our legal
department and HR team. The materials are part of the induction process for new recruiters. In November 2025, recruiters in the
staffing business received additional training in an online course organized by the Occupational Safety and Health
Administration: Discrimination in recruitment as an obstacle to equal working life.
In the office staff survey (2025), the question of non-discrimination on the basis of age, origin, nationality, language, religion,
health, etc. received a high rating of 3.78, compared to the comparative standard for employees of 3.67.
Transparency and fairness in the remuneration models, role descriptions, and requirement specifications for employees are key
to preventing negative effects. Eezy has defined role descriptions, role requirement assessments, and remuneration models and
policies. The job requirements underlying task-based salaries are always assessed on the basis of the demands of the task, not
the person performing the task. The package also includes a model for salary reviews. These create a basis for fair treatment
and equal pay, which increases employee confidence and commitment and demonstrates responsible salary and reward
practices. The implementation of pay equality based on job requirement classification will be monitored regularly in the future.
In the staff survey, office employees were asked about their ability to influence the development of operations. In 2025, the staff
gave it a score of 3.21 (the Finnish standard for office workers is 3.12). The statement “Eezy listens to its personnel when
making decisions that affect them” received a score of 2.29 (Finnish standard for office workers 2.60). Eezy will continue to
strive to ensure equal opportunities to influence decisions that affect work and their preparation and will aim for better results in
the next survey. Feedback on the fairness and impartiality of management is obtained through the results of the staff survey.
The necessary measures are agreed upon in order to develop operating practices. Inconsistent in decision-making is actively
addressed.
The implementation of equality and non-discrimination is assessed at the unit level, for example, in annual development
discussions and workplace meetings. In addition, the implementation of equality and non-discrimination is regularly monitored at
occupational safety and health committee meetings.
According to the results of Eezy's personnel survey, experiences of harassment and inappropriate treatment have improved
significantly. In 2025, 93% (2024: 89%) of respondents have not experienced inappropriate treatment at Eezy, 6% (2024: 8%)
have experienced it in the past, and 1% (2024: 3%) still experience it. The results show that measures to reduce inappropriate
treatment have been effective, with experiences of inappropriate treatment decreasing compared to 2024. Eezy has a zero-
tolerance policy towards all forms of harassment and inappropriate treatment. We have an operating model for handling
situations, and a harassment contact person service available to all employees. We also have an anonymous reporting channel
through which employees can report cases of discrimination.
Leakage of personal data or data breaches
Data protection issues are an extremely important part of good governance and our corporate responsibility. Eezy has
established a data protection and information security organization based on the EU's General Data Protection Regulation
(GDPR), and the company has operational processes in place to ensure appropriate data protection and information security.
Data protection training is part of our induction program, and we regularly train our employees in data protection practices.
There were 8 data security breaches in 2025. None of these posed a high risk to the rights of data subjects and were therefore
not reported to the Data Protection Authority. One non-critical incident resulted in a preliminary notification to the Data
Protection Authority. All cases were promptly resolved in accordance with our processes.
These measures and their effectiveness are regularly monitored and evaluated and have been designed to ensure the well-
being, safety and fair treatment of employees at all levels of the organisation.
Use of artificial intelligence
The potential negative effects of using artificial intelligence at Eezy are related, for example, to unclear practices or a lack of
transparency regarding how artificial intelligence is used in recruitment. To prevent these, Eezy's Board of Directors has
approved a policy on the responsible use of data and artificial intelligence, which came into effect on January 1, 2025. It is
publicly available and has been communicated to staff and other stakeholders through multiple channels.
We are transparent about our use of artificial intelligence – we ensure that users of our services can understand what data they
are using. We also openly disclose when artificial intelligence has been used in our services. Solutions that utilize artificial
intelligence are carefully tested and piloted with a limited target group before being put into production. The data used to train
the system is known to identify and correct any biases in the data. At Eezy, artificial intelligence always operates under human
supervision.
Continuous efforts to mitigate risks related to own staff
The effectiveness of risk management measures is monitored using defined KPIs, such as employee engagement, job
satisfaction, turnover, and sick leave rates. These indicators are monitored regularly, and the results are used to support
strategic decision-making and the continuous improvement of measures. The measures are part of a broader risk management
strategy and ensure that Eezy can respond quickly and effectively to risks affecting its workforce.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 42
The loss of business capacity due to the difficult availability of labour, poor retention and attractiveness of the staffed
workforce due to poor working conditions and working conditions
We have taken several measures to mitigate risks to labour availability, retention and attractiveness. We have developed our
corporate culture to manage the churn rate of our staff. We organise trainings and develop tools for supervisors, such as
strategy and culture maps and a revised meeting concept, to support the continuous development of our culture. Encounter
meetings and regular 1-to-1 meetings are a key part of developing a corporate culture, building a sense of respect and
community among employees.
The effectiveness of culture development is systematically assessed by analysing the results of staff surveys, and concrete
development measures are designed and implemented based on these results. These measures are continuously monitored
and updated to ensure their effectiveness. The management team is closely involved in the development of the culture and
ensures that the company's values are reflected in day-to-day operations. Diversity and inclusion are key principles and are
actively promoted at all levels of the organisation.
We have created role descriptions and job requirement assessments for our office staff, which enable us to better focus on
developing their skills and ensuring fair and equal remuneration.
In 2024, Eezy's recruitment process was developed to better reflect its corporate culture and values, focusing on improving the
applicant and employee experience and on aspects of responsibility and non-discrimination. In the reporting year 2025, the
content was put into practice, for example, through in-depth training for those responsible for the recruitment processes of
staffed employees. These measures ensure that Eezy operates responsibly and without discrimination in all employee-related
processes.
Eezy also strives in many ways to develop and monitor the commitment of staffed employees. Compared to the industry
average, Eezy staff is more satisfied and committed than average (source: HELA's biennial survey on staffed employees 2024).
With the new ERP system and new operating models, we aim to increase the annual hours worked by staffed employees and
thus reduce staff turnover. The new system also enables more accurate monitoring: quarterly employee surveys provide us with
feedback on the effectiveness of the measures taken. Employees are also encouraged to provide feedback on their own
initiative so that any issues can be addressed as quickly as possible.
Cost of accidents at work and sick leave
In 2025, we continued to develop the occupational safety and work ability management of our staffed employees. We developed
our operating model in collaboration with occupational health care and pension insurance companies, and we strengthened
preventive measures in particular, such as employee occupational safety induction models. The number of accidents also
decreased significantly in 2025. Relative to revenue, the wage costs of occupational accidents and sickness absences among
staffed employees decreased by approximately 7% compared with 2024. For office workers, costs have lowered compared to
2024. Our goal is to keep absences due to accidents and illnesses at the same good in 2026.
Failure to train staff in the right skills for Eezy's operations or in a way that is meaningful to staff, resulting in a
deterioration in customer relations and service levels, production stoppages, or other service disruptions
The continuous development of employee skills is an essential part of maintaining service quality. We leverage diversity and
inclusivity to support a broader skill base and innovation across different employee groups. The effectiveness of these
measures is monitored regularly using defined KPI indicators, and the results are used in continuous improvement and strategic
planning. Processes aimed at stabilizing operations in the event of production interruptions or service disruptions are described
in the contingency plan approved by Eezy's management team in August 2025.
Proactively seizing significant opportunities
Eezy is planning and implementing several strategic actions to capitalise on the essential opportunities in the workforce. One of
the key focus areas is an attractive employer image to increase employee retention and attraction. This includes fair
remuneration, diverse work solutions that support work-life balance, and investment in orientation, wellbeing and training
opportunities. The primary approach to retaining staffed employees is to offer them more work in attractive client companies.
The ERP system and digital operating model introduced in 2024–2025 are designed to enable Eezy's staffed employees to work
more hours at a variety of client companies and in different industries. Staffed employment brings much-needed flexibility to
working life, as the employee can decide which job offer to accept, and offers opportunities for development, as experience can
be gained in a wide range of workplaces and jobs.
Through skills management, Eezy will be able to make better use of the essential potential of its employees. Systematic skills
development is therefore one of our key objectives. We also aim to provide career development support to help staff find
suitable career paths within the company. Succession planning will also contribute to this. Developing staff skills is important not
only to retain staff but also to maintain the quality of the service.
We use new technologies and tools that improve work efficiency and enable flexible working methods. Our goal is to create a
work environment that supports both individual growth and the success of the entire organization. We use technology, artificial
intelligence, and data responsibly to build a good, equal, diverse, and inclusive working life.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 43
To engage our workforce, we focus on developing a corporate culture in which appreciation, community, and diversity are key
principles. We actively promote inclusivity and equality at all levels of the organization, both for staffed employees and our office
staff, to ensure that every employee feels like a valuable part of the company. Diversity creates innovation and broadens the
expertise of the work community.
We monitor the effectiveness of the measures taken, particularly through personnel surveys, but we also engage in regular
dialogue with both staffed employees and our office staff, and we encourage them to raise any issues that concern them. The
feedback we receive is forwarded to the relevant parties without delay. The aim is to deal with issues as smoothly as possible,
avoiding unnecessary bureaucracy.
S1-5 Targets related to managing material negative impacts, advancing positive impacts,
and managing material risks and opportunities
Eezy has identified the negative and positive impacts, risks and opportunities associated with its own workforce. The table
below describes the objectives associated with each impact, risk or opportunity. All targets are set at an annual level, so there
are no separate milestones. The baseline used for comparison is, in principle, the actual figures for 2024. Not all data is
available for 2025, for example if the study in question has not been carried out in 2025.
Eezy does not report its targets, citing trade secrets, in relation to the possibility of "The impact of possible changes to working
conditions on the availability of labor. A more work-friendly social security system, which may be implemented as a result of
government policy, could increase the availability of labor and facilitate recruitment." Actual figures are monitored continuously
as part of business operations. The number of employees is reported in section S1-6 and the total number of employees in the
entrepreneur network is reported in section S3-5.
Impact, risk or opportunity
KPIs and targets
Data
2023
Data
2024
Target
2025
Data
2025
Target
2026
Mental and physical stress factors at
work plus possible accidents and
incidents
Ensuring good working conditions
and responsible practices for
employees
Enabling and promoting work-life
balance
Weak commitment among staffed
employees and low retention and
attractiveness due to poor working
conditions and terms of employment
Reduced capacity to operate due to
difficult access to labour
A strong and attractive employer
image to increase employee retention
and attraction
I feel good at work
(source: HELA Study of
staffed employees 2024)
n/a
4.14
n/a
n/a
>4
Eezy's employer image
(source: HELA bi-annual
study of staffed
employees)
n/a
4.09
n/a
n/a
>4
Office staff
People Power Index
(70.7*)
Ownership index (77.6*)
Commitment index
(73.8*)
I would recommend Eezy
as an employer (3.15*)
* Finnish staff standard
n/a
n/a
n/a
n/a
71.6
80.0
74.1
3.14
72
81
74.2
3.15
68.9
75.7
69.6
2.75
72
81
74.2
3.15
Sick leave for staffed
employees
M-dg Number of
absences (days/person),
staffed employees
3.49 %
3.0 d/p
3.09 %
2.3 d/p
3.2 %
1.3 d/p
2.85 %
1.3 d/p
3.1 %
1.2 d/p
Sick leave for own office
staff
F-dg Absence rate
(days/person), own office
staff
n/a
2.2 d/p
2.5 %
3.5 d/p
2 %
2 d/p
1.9 %
1.9 d/p
2 %
1.5 d/p
Potential accidents and incidents
Frequency of accidents
at work, own office staff
8.1
0
0
0
0
Provision of comprehensive
occupational health care and other
preventive health and well-being
measures
Early Support
Discussions for those
who have been followed
up (staffed employees)
Early Support
discussions (own office
staff)
n/a
n/a
n/a
70 %
90 %
100 %
n/a
n/a
90 %
100 %
Unsatisfactory and/or unfair working
conditions, unfair treatment
Whistleblowing reports:
number of reports that
led to action.
0
2
<5
0
<5
Developing skills and enabling career
development for staff
Number of hours of
training per person:
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 44
Providing training and growth
opportunities and good orientation to
improve employer image and
retention
Maintaining and improving service
quality through staff training
Failure to train staff on the right
issues for Eezy's operations or in a
way that is unattractive to staff,
resulting in poor customer relations
and service levels, production
stoppages or other service
disruptions.
office staff
office staff supervisors
7.7 h/p
3 700
days
10.9 h/p
14.7 h/p
n/a
n/a
6.2 h/p
9.9 h/p
n/a
n/a
Eezy introduction - online
orientation (new talent)
Sectoral orientation - in-
depth online inductions
(all staffed employees)
Orientation for new
office staff
0
n/a
n/a
n/a
n/a
100 %
100 % of
new talent
>70 % of
new talent
100 %
n/a (rollout
11/25)
n/a
(rollout in
2026)
100%
100 % of
new talent
>70 % of
new talent
100 %
Promoting diversity and inclusiveness
in the workplace through equal and
non-discriminatory recruitment and
by promoting and maintaining equal
pay.
Personal passivity and frustration due
to poor educational and development
opportunities and emotional distress
due to perceived inequality and/or
discrimination.
Responsible recruitment
training completed, % of
supervisors involved with
recruiting
n/a
66 %
100 %
59 %
66 %
Code of conduct training
completed, % of office
staff
n/a
100 %
100 %
100 %
100 %
Experience of inclusion:
'No one is discriminated
against in our
organisation on the basis
of age, origin, nationality,
language, religion, belief,
opinion, political activity,
trade union membership,
family relationships,
health, disability, sexual
orientation or any other
personal ground'
(PeoplePower, Eezy
office staff)
n/a
3.79
>3.5
3.78
>3.7
Analysing, promoting and
maintaining equal pay
and promoting wage
development:
Own office staff and
Staffed employees
n/a
n/a
100 %
100 %
100 %
100 %
100 %
100 %
100 %
100 %
Leakage of personal data
Unethical use of AI
Responsible use of data
and AI: numbers of data
protection and security
breaches / breaches
reported to the EDPS
3/0
0
<2/0
1
<1/0
Responsible use of data
and AI: Data protection
and security training, %
of own office staff
n/a
89 %
100 %
66 %
100 %
Methods and data sources used to define the objectives:
• HELA's bi-annual national survey of staffed employees was conducted for the tenth time in 2024 to find out the opinions of
temporary staffed employees on job content and motivation, working in client companies, opinions on staffing companies
as employers and the meaningfulness of staffed employment. The survey was carried out in 2024 by Promenade Insight
and over 9 500 respondents from 47 companies were surveyed.
• The PeoplePower® People Survey is a reliable way to assess the current state and changes in the employee experience in
organisations. Eezy conducts an annual survey of its employee experience using either the PeoplePower® survey or the
Siqni survey.
• Sickness absence is calculated by dividing the hours of absence by the sum of hours worked and theoretical hours worked.
Absences include self-reported and certified absences, as well as absences due to travel and accidents at work
• Frequency of accidents at work: the frequency of accidents (LWIF=Lost Workday Injury Frequency) is calculated using the
formula accidents at work recorded by the accident insurance company, resulting in absences x 1 000 000: (hours worked+
theoretical hours worked). Only accidents at work are included.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 45
• Early Support Discussions with employees who are being monitored: no reliable statistics are available in 2025 due to
system changes that took place during the reporting period (occupational health care partner, change of ERP system). The
aim is to develop documentation and monitoring to be more systematic during 2026.
• Number of training hours: training is recorded in the training register in the Eezy HR system, the number of training hours
per person is obtained by dividing the number of training hours by the number of full-time equivalent staff. Training is
tracked based on data generated by the business and recorded in the HR system. Uncertainty in the tracking is caused by
the manual processing of data and the fact that is not usually accompanied by a test to verify the internalisation of the
lessons learnt. The definition of "office staff" used in the report (total 417 employees at 31.12.25, approx. 444 employees /
2025) includes Eezy's own staff in its broadest form, including the operational staff of the Eezy Valmennuskeskus (Eng.
Training Centre). Operational staff are a special category of staff whose nature and job description differ from that of other
staff, for example in that the work is mainly project-based and often sideline work. The narrower definition of "own office
staff", on the other hand, covered 274 staff at 31.12.2025.
• Completed Responsible Recruitment trainings: trainings are organised and recorded by HR. Participant data is transferred
to the HR system. No test is associated with the training. The person responsible for the training is involved in each
recruitment process. The number of Eezy’s office staff decreased during 2025 due to an operational efficiency program
implemented within the company. As a result, some of the planned trainings were not carried out but were postponed to
Q1/2026.
• Number of data protection and security breaches / breaches reported to the Data Protection Ombudsman (source: Eezy's
internal data breach register). Data protection and security breaches are reported to Eezy's internal data breach register,
which is also reported to the Board of Directors as part of the annual data breach report.
• Data protection training completed, % of own office staff (source: PrivaOn web-based training channel). The number of
Eezy’s office staff decreased during 2025 due to an operational efficiency program implemented within the company. As a
result, some data protection training courses were either not completed or remained unfinished. In 2026, the
implementation of the training will be renewed so that (a) all newly hired salaried employees complete an online course,
and (b) the rest of the personnel are trained internally by Eezy’s legal department. The trainings are mandatory, and
managers are required to ensure that they are completed as planned.
• Promoting and maintaining equal pay: the results of the role evaluation (target group: own office staff) will be used to
implement a responsible, fair and transparent pay and reward policy on a role-by-role basis. The percentage represents the
proportion of staff roles that have been described and whose pay equity has been analysed. For staffed employees, Eezy
is committed to pay structures and development in line with collective agreements and to promoting equal pay.
• Number of whistleblowing reports reported through the whistleblowing channel that led to action (source: whistleblowing
channel). Whistleblowing reports are reported based on the number of reports received by Eezy's Whistleblowing system
each year after the end of the calendar year. This reports on reports that led to action in relation to unsatisfactory and/or
unfair working conditions or unfair treatment.
The targets have been set with the involvement of the company's own office staff as part of the work of the Sustainability
working group. The group is made up of Eezy employees representing different business areas and support functions. The
targets identified together are PeoplePower indices, the experience of inclusion and accident frequency rates. For the remaining
objectives, neither own office nor staffed have been involved in the development of the objectives. However, in setting the
objectives, we have considered the themes that have been researched to have a holistic impact on the employee experience,
such as the PeoplePower® survey indices and the themes that emerge from HELA's staffed employee study that are important
to staffed employees.
Eezy staff are involved in monitoring performance and developing activities through staff surveys, survey results and direct
interaction. For example, the results of the staff surveys are discussed with Eezy staff and development actions are created in
each team based on the feedback received. Other improvements include early intervention models and measures to improve
safety at work.
For staffed employees, service delivery processes will be improved based on direct feedback from recruitment to job offer,
orientation and payroll, sickness absence rates, accident rates, HELA and own research results.
S1-6 Characteristics of the undertaking’s employees
The figures/tables below show the characteristics of Eezy's employees and staffed employees at the end of 2025. The data has
been compiled from the company's human resource management systems by reporting the actual hours worked by all
employees who were employed and paid during the period under review, both hourly and salaried employees, as well as the
theoretical hours worked by monthly paid employees. For monthly paid employees, theoretical hours worked are calculated by
multiplying the monthly FTE figure by the monthly number of hours worked during regular working hours. The number of hours
worked is based on the working time of 7.5 hours per day as laid down in the Palta collective agreement.
The number of staff is expressed in full-time equivalents by adding up the hours worked (hourly paid), and the theoretical hours
worked (monthly paid) over the reference period and dividing by the number of hours worked per full-time equivalent (FTE)
person per working year. The gender information is determined based on the employee's self-reported personal identification
number. The validation of the measurement of this indicator has not been carried out by any external body other than the one
providing the verification services to the group. The number of employees reported here is the same as that reported in the
financial statements. Both figures are based on the situation at the end of the reporting period on 31 December 2025.
In the first table, the number of employees is recorded as the number of unique persons (not full-time equivalent) employed
during the reference period.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 46
In the statistics on the number of staff (both in terms of number of staff and full-time equivalents), the gender breakdown of staff
is inferred based on the value of the person's gender given by the personal identification number.
Sex
Number of employees
(headcount) 2025
Number of employees
(headcount) 2024
Men
6 276
7 309
Women
8 126
9 689
Other
-
-
Not reported
-
-
Total employees
14 402
16 998
Country
Number of employees
(headcount) 2025
Number of employees
(headcount) 2024
Finland
14 402
(full-time equivalent 2 387)
16 998
(full-time equivalent 2 951)
The number of employees in full-time equivalents is recorded according to the calculation method described earlier. The number
of full-time and part-time employees has not been statistically recorded during the review period due to a system change and its
phased implementation during 2025, which is why the data cannot be validated for the entire year in this regard (the data will be
reported for 2026).
Reporting period 2025
Female
Male
Other
Not disclosed
Total
Number of employees (head count / FTE)
1 298 (2024: 1 682)
1 090 (2024: 1 269)
0 (2024:0)
0 (2024:0)
2 387 (2024: 2 951)
Number of permanent employees (head count / FTE)
54 (2024: 185)
93 (2024: 139)
0 (2024:0)
0 (2024:0)
147 (2024: 324)
Number of temporary employees (head count / FTE)
1 139 (2024: 676)
899(2024: 510)
0 (2024:0)
0 (2024:0)
2 037 (2024: 1 186)
Number of non-guaranteed hours employees (head count / FTE)
106 (2024: 821)
98 (2024: 620)
0 (2024:0)
0 (2024:0)
203 (2024: 1 441)
The number of employees in full-time equivalents is recorded according to the calculation method described earlier. Eezy
reports the 2025 data as a single region, as the variation is more related to the industry or industry trends than to the
geographical area, and the divisions described above have not been statistically recorded in 2024–2025. The possibilities for
regional division were assessed, and this development will continue after the implementation phase. The number of full-time
and part-time employees has not been recorded during the review period due to a system change.
The number of temporary and variable-hour employees in relation to the number of permanent employees is a specific feature
of Eezy's largest category of staff (staffed employees). The impact of seasonal fluctuations, the flexible reconciliation of
employees' personal life circumstances and working life, and the need to meet the labour needs of user companies, among
other factors, influence the type of employment contract. During 2025, Eezy transitioned to a new ERP system, as a result of
which the employment contracts it offers predominantly consist of fixed-term or permanent contracts.
Reporting period
Region A
Region B
Total
Number of employees (head count/FTEs)
2 387 (2024: 2 951)
2 387 (2024: 2 951)
Number of permanent employees (head count/FTE)
147 (2024: 324)
147 (2024: 324)
Number of temporary employees (head count / FTE)
2 037 (2024: 1 185)
2 037 (2024: 1 185)
Number of non-guaranteed hours employees (head count / FTE)
203 (2024: 1 441)
203 (2024: 1 441)
Employee churn rate is reported as outflow by adding to the outflow the number of open-ended contracts terminated during the
reference period, whether at own request, retirement, death, probationary period, termination of employment or by contract. The
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 47
employee churn rate is obtained by dividing the number of employees whose contracts ended for the reasons described above
by the total number of active contracts at the reference date.
2025
2024
Employee turnover, %
9.8%
7.2 %
Number of employees who have left the company
470
600
S1-8 Collective bargaining coverage and social dialogue
Coverage of collective bargaining 2025
Social dialogue 2025
Coverage Rate
Employees - EEA
(For countries with >50 empl.
representing >10% total empl.)
Employees - non-EEA
(Estimate for
regions with >50 empl. representing
>10% total empl)
Workplace representation
(EEA only)
(For countries with >50 empl.
representing >10% total
empl)
0-19 %
N / A (2024: N / A)
N / A (2024: N / A)
Suomi (2024: Suomi)
20-29 %
N / A (2024: N / A)
N / A (2024: N / A)
N / A (2024: N / A)
40-59 %
N / A (2024: N / A)
N / A (2024: N / A)
N / A (2024: N / A)
60-79 %
N / A (2024: N / A)
N / A (2024: N / A)
N / A (2024: N / A)
80-100 %
Finland (2024: Finland)
N / A (2024: N / A)
N / A (2024: N / A)
The number of employees covered by collective agreements is based on an estimate and on the background information that,
under Finnish labour law, most employees are covered by collective agreements either based on universal or normal binding
nature of collective agreements or based on company-specific collective agreements. Eezy has occupational safety
representatives who represent different staff groups and divisions. There are also shop stewards who represent employees in
their own companies.
Eezy does not collect information on staff representatives chosen by staffed employees, as this is prevented by current data
protection legislation. In addition, temporary staffed employees are employed by Eezy's client companies under collective
agreements that are binding on them, which means that in some cases temporary staffed employees are also represented by
their own staff representatives. Eezy employees are not involved in the election of staff representatives in the client companies.
Eezy does not have access to information on the elected staff representatives in the client companies based on the applicable
data protection legislation. The estimate of employee representatives is therefore based on the information available to Eezy on
employee representatives elected by employees.
Eezy has no employees in countries other than Finland, i.e. the company has no employees outside the EEA.
The estimates presented in the Eezy table have not been verified by an external auditor.
S1-9 Diversity metrics
Gender
2025
2024
2023
Men in top management
5
2
4
Men in top management, %
62.5 %
29 %
57 %
Women in top management
3
5
3
Women in top management, %
37.5 %
71 %
43 %
Other / not reported in top management
n/a
n/a
n/a
Other / not reported in top management, %
n/a
n/a
n/a
Eezy has defined top management as the Management team, which is one level below the corporate governance bodies. The
gender information is determined based on the self-declared personal identification number of the persons included in the
definition of senior management.
The age distribution of employees has been calculated from the total number of employees so that only unique data classified
by personal identification number are included. The age of the person as at 31.12.2025 has been calculated based on the year
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 48
of birth of the ID number if the information was not available directly from the system. The validation of the measurement of this
indicator has not been carried out by any other external body apart from the one providing certification services to the group.
Age distribution of employees (number of persons)
2025
2024
2023
Under 30 years old
7 470
9 330
n/a
30–50 years old
5 172
5 656
n/a
People over 50 years old
1 759
2 012
n/a
S1-10 Adequate wages
Eezy pays its employees in accordance with the labour legislation in force and the provisions of the collective agreement
applicable to the employment relationship. This ensures that employees are always paid adequate wages as defined by Finnish
law and applicable collective agreements. Eezy has begun preparations to meet the requirements set out in the EU Pay
Transparency Directive and the national legislation based on it.
In practice, the minimum wage paid to employees is determined by the lowest job or job classification in the job category or
requirement class defined by the collective agreement applicable to the employment relationship. The employee will not be paid
less than this.
The minimum wage of Eezy's employees is linked to the wages defined in the collective agreement in force for employees of the
Employers' Association for the Service Sector (PALTA) for Eezy's group companies that are members of PALTA. The
remuneration of other Eezy employees is determined based on Chapter 2, Section 10 of the Employment Contracts Act, under
which employees must be paid normal and reasonable remuneration for the work they perform.
The minimum wage for staffed employees is determined by the collective agreement in force at the time. The applicable
collective agreement for staffed employment is determined by Chapter 2, Article 9 of the Employment Contracts Act, which
stipulates that the terms and conditions of employment of a temporary staffed employee are determined by the collective
agreement applied by the user undertaking.
If the user company is not bound by a collective agreement, the minimum wage of the staffed employees is determined in
accordance with Chapter 2, Section 10 of the Employment Contracts Act. In this situation, the minimum wage to be paid to the
worker is the reasonable and customary wage generally paid to other workers doing similar work.
Eezy has no employees in countries other than Finland.
S1-11 Social protection
All Eezy employees are resident in Finland and are covered by social security legislation based on national law. All employees
are therefore covered by social protection against loss of income due to major life events such as
- disease
- unemployment from the moment the employee starts working in the company
- injury and disability at work
- parental leave
- retirement
S1-13 Training and skills development metrics
Eezy uses staff surveys to monitor its employees' experiences of skills development and skills sharing. In the 2025 office staff
survey, the question "My employer supports the development of my skills" was asked. On a scale of 1–4, the average response
was 2.82, while the Finnish employer norm was 2.98. Another question, "We actively share our own skills in our unit," received a
score of 3.44, while the norm for office workers was 3.20. The PeoplePower® employee survey is a reliable way to determine
the current state of employee experience in organizations and any changes that have taken place.
A total of 2 770 hours were spent on training for Eezy's employees in 2025, divided into 461 training days. The calculation of
training days is based on the definition used in the former tax training deduction (6 hours). Trainings are logged in the training
register of Eezy's HR system, and the number of training hours per person is calculated by dividing the training hours by the
number of full-time employees. Trainings are monitored based on data generated by business operations and recorded in the
HR system.
Uncertainty in monitoring is caused by manual data processing and the fact that training courses do not usually include a test to
verify that the material has been learned. No external party other than the provider of verification services to the Group has
validated the measurement of the indicator. The focus of training was on strengthening professional competence.
Staffing services focused on training related to the implementation of the new ERP system. The competitiveness of the entire
organization and the skills of its staff were strengthened through training that focused on topics such as information security and
the use of artificial intelligence, promoting diversity and equality, developing processes and sales, management skills and
operating methods of supervisors, and legal issues such as employment and customer agreements and change negotiation
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 49
legislation. Everyone whose work was related to the topics was invited to the training. The training sessions were also recorded
for later use.
Eezy's staffed employees receive general orientation at the beginning of their employment. The actual job orientation takes
place at the workplace and is provided by the client company. From November 2025, Eezy's induction training was transferred
to an online training platform, which will enable more accurate monitoring and data availability in the future. The initial induction
training covers basic information on factors that are essential for occupational safety in different industries. Employees also
have the opportunity to participate in more in-depth industry-specific training. Eezy does not measure development through
external training, as more effective results are often achieved through on-the-job learning methods and the sharing of staff
expertise.
Eezy does not have information on the proportion of employees who have participated in regular performance and career
development assessments. Instead, Eezy's supervisors have been instructed to document the content of annual meetings and
one-on-one discussions. Eezy does not currently collect training hour data for the total number of employees reported in
disclosure requirements S1–6, so Eezy is unable to report the required average.
S1-14 Health and safety metrics
The accompanying graphs and tables show health and safety indicators covering both contract and staffed employees.
The number of work-related injuries and health problems (occupational diseases) is monitored by the statistics of the Work
Accident Insurance Company, which record all accidents covered by statutory accident insurance at work: accidents at work
and during commuting, and occupational diseases. The statistics cover injuries to all employees, office workers, and staffed
employees. The statistics are based on accident reports submitted to insurance companies. The insurance company submits
the statistical data to the employer on a quarterly basis, and it can also be monitored on a company-specific basis on the
insurance company's online service. The measurement of the indicator has not been validated by any external party other than
the entity providing verification services to the group.
Health and safety metrics
2025
2024
2023
People in its own workforce who are covered by health and safety management system
based on legal requirements and (or) recognised standards or guidelines, %
100 %
100 %
100 %
Number of fatalities in own workforce as result of work-related injuries and work-related ill
health
0
1
0
Number of fatalities as result of work-related injuries and work-related ill health of other
workers working on undertaking's sites
0
0
0
Number of recordable work-related accidents for own workforce
292
330
470
Rate of recordable work-related accidents for own workforce
100 %
100 %
100 %
Number of cases of recordable work-related ill health of employees
1
2
1
Number of days lost to work-related injuries and fatalities from work-related accidents,
work-related ill health and fatalities from ill health related to employees
782
1 712
2 778
S1-15 Work-life balance metrics
All Eezy employees (100%) are entitled to family leave under social policy and/or collective
Family-related leaves
2025
2024
2023
Workers entitled to family-related leave, %
100 %
100 %
100 %
The data in the table is presented for the whole year.
The data collected during the period under review have been retrieved from the Group's various HR systems, covering all
employees in the organisation. These systems have been used to record actual absences, and the reason codes for the
absences have been linked to the absences for family leave under S1-15 of the Directive. The data from the different systems
Workers taking family-related leave, %
2025
2024
Men
0.3 %
0.7 %
Women
0.3 %
0.6 %
Other
0 %
0 %
All
0.3 %
0.6 %
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 50
have been combined and the proportions and gender distribution of those who took family-related leave have been calculated.
The gender information is determined based on the employee's self-declared personal identification number. The validation of
the measurement has not been carried out by any external party other than the entity providing verification services to the
Group.
S1-16 Compensation metrics (pay gap and total compensation)
Pay gap and annual remuneration ratio
2025
2024
The gender pay gap, %
19 %
31 %
The total annual renumeration ratio
107
140
The data in the table is presented for the whole year.
The gender pay gap ratio is presented in accordance with the calculation method defined in the Directive, whereby the average
gross earnings of female employees are subtracted from the average gross earnings of male employees, and the result is
divided by the average gross earnings of male employees. In this context, “employee” refers to staffed employees, office staff,
senior office staff, and executive management employed under an employment contract. Gender is determined on the basis of
the personal identity code provided by the employee.
The ratio of total annual earnings is expressed as the total annual earnings of the highest paid employee in the enterprise
divided by the median total annual earnings of all employees. The calculation of median earnings excludes the highest
earner. Employees in the personnel services sector work irregular periods of work, which can vary from one day to periods of
the whole reference period. This creates challenges in measuring and reporting earnings.
Value of the total annual earnings ratio: The value of the total annual earnings ratio is influenced by the following factors
specific to the Staffing Services industry:
1. Prevalence of part-time work: a significant proportion of our employees work part-time, which affects their annual
earnings. This prevalence of part-time work is reflected in the overall earnings ratio.
2. Variable working hours: the working hours of our employees vary widely, leading to irregular earnings. This irregularity
affects the total annual earnings and its ratio.
3. Irregular working periods: workers may have very short or long working periods, which affects their earnings over different
reference periods. This irregularity is reflected in the ratio of total earnings.
4. Diversity of employment relationships: our company has a wide range of employment relationships, which affects the
distribution and measurement of earnings. This diversity is reflected in the overall earnings ratio.
The value of the annual total earnings ratio is the result of the diversity of employment relationships and working hours of our
employees. This diversity creates challenges in measuring earnings, but it is important to take it into account in order to provide
a fair and comprehensive picture of our employees' earnings.
The validation of the measurement of this indicator has not been carried out by any other external body apart from the one
providing certification services to the Group
S1-17 Incidents, complaints and severe human rights impacts
Eezy is not aware of any serious human rights cases, such as forced labour, child labour or discrimination, including
harassment, related to its activities during this or the previous fiscal year. Serious human rights violations can be reported
anonymously through Eezy's whistleblowing channel. Whistleblowing can be done by people employed by Eezy, through Eezy's
internal channel, as well as by people outside Eezy, partners and stakeholders through Eezy's external channel. The number of
serious human rights violations is measured by the number of reports made to Eezy's whistleblowing channel.
In 2025, 10 complaints were made through the channels available to people in Eezy's own workforce. The complaints were
investigated and found not to have been cases of whistleblowing within the meaning of the Law on the protection of persons
reporting breaches of European Union and national law (20 December 2022/1171). Eezy is not aware of any complaints lodged
with the OECD National Contact Points for Multinational Enterprises. Eezy has not paid any fines, other penalties or damages
because of these cases or complaints.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 51
ESRS S3 Affected communities
Entity-specific information: employment
ESRS 2 SBM-2 Stakeholder interests and perspectives
Eezy has described this in sections ESRS 2 General Disclosures / SBM-1 Strategy, business model and value chain and ESRS
2 General Disclosures / SBM-2 Stakeholder interests and perspectives how the views, interests, and rights of affected
communities, including respect for their human rights, are taken into account in the company's strategy and business model.
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy
and business model
The ESRS double materiality analysis found only material positive impacts on communities and the impacts are a direct result of
Eezy's strategy and business model. The communities affected by Eezy are central to Eezy's business and strategy, as these
communities are direct users or beneficiaries of Eezy's services at the societal level. The impacted communities are located at
the end of Eezy's value chain, i.e. our customers and the people we train and coach in Finland. Eezy's mission is to build growth
for Finland through a good, sustainable working life and broad, diverse employment. Eezy's impacts on affected communities
are not covered by the ESRS disclosure requirements, so Eezy covers them using entity-specific disclosure requirements.
As described in section IRO-1, the sustainability factors relevant to Ezy have remained unchanged. However, in the 2025 review
of the dual materiality analysis, it was decided to combine some of the impacts, opportunities, and risks. The updated impacts,
risks, and opportunities related to the communities affected, with accompanying illustrations, are detailed in the table below.
Eezy identified the following positive impacts on employment in the affected communities:
Impact, risk,
opportunity
Description
Position in the
value chain
ESRS/entity-
specific
disclosure
requirement
S3 Affected communities
Positive, actual
impact
Alleviating labour shortages and mismatches. Eezy serves many
sectors suffering from labour shortages (e.g. retail, horeca) or where
specific skills are needed, easing the overall labour situation, including
for example the sourcing of foreign labour
Downstream
Entity-specific
Positive, actual
impact
Preventing marginalization plus advancing peace and integration into
our society. Possibilities for flexible employment for people in different
situations and from different backgrounds helps prevent potential
marginalization and maintain social stability. Eezy facilitates the
employment of people whose native language is not Finnish or
Swedish, thereby promoting their integration into Finnish society.
Downstream
Entity-specific
Positive, actual
impact
Developing the corporate culture of clients and the company itself
through cultural events, coaching and management training. Eezy's
services to its client companies and its work within the company
improve their corporate cultures and promote meaningful work, good
management, fair working practices and the development of good
working communities more widely. This in turn can contribute to the
overall growth of companies.
Downstream
Entity-specific
Positive, actual
impact
Training in working life skills and competences. Training and upgrading
the skills of people who are partially able to work and other people with
low employability skills.
Downstream
Entity-specific
Impacts on impacted entities are a key part of Eezy's strategy, business models and business management, and are reviewed
as part of the company's management model monthly. For example, the company regularly monitors the number of people
employed, the effectiveness of integration training and the number of training courses, corporate culture projects and pre-
employment training.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 52
S3-1 Policies related to affected communities
In line with our strategy, our goal for stakeholders and society is to build a better working life: thriving work communities,
widespread employment in our society, and diverse ways for every working-age and able member of our society to participate in
working life. Impacted communities are located at the end of the Eezy value chain.
The policies relevant to the material impacts on the affected communities can be found in Eezy's Code of conduct. Eezy
requires all employees, customers, stakeholders and partners to act in accordance with the Code of conduct, i.e. there is no
stage of the value chain, geographical area or stakeholder that is not covered by the Code. A Code of Conduct that is consistent
across stakeholders and Eezy contributes to Eezy's positive social impact. In relation to the affected communities, the
document addresses the following themes: equal, equitable and inclusive working life, safe working environment, respect for
human rights, reporting misconduct, monitoring compliance with the Code, and monitoring of non-compliance with the Code.
Eezy does not have any separate human rights policy commitments, but its Code of Conduct, which guides all of its activities,
states that Eezy respects and promotes human rights in all its activities. In developing the Code of conduct, consideration has
been given to the UNGP, the UN Global Compact initiative, the principles of the ILO Declaration on Fundamental Rights at Work
and the human rights as defined by the United Nations. This Code of Conduct has been approved by the Board of Directors
and the Management team and is implemented by each business in its own way. The Code of Conduct and the Code of
conduct are available on the company's website, i.e. accessible to all stakeholders. The creation of the Code of Conduct is
described in more detail in section G1-1. The communities affected by Eezy and the interaction with various stakeholders are
described in section ESRS 2 General information / SBM-2 Stakeholder interests and views of this report. Regarding
employment-related impacts, Eezy’s key stakeholders are its customers.
Eezy monitors compliance with this policy, for example through a whistleblowing channel, and reports any breaches. Remedial
action is described in section G1-1. In 2025, no cases of non-compliance with this policy were reported. The highest level of the
Eezy organisation responsible for the implementation of the Code of conduct is the Eezy Board of Directors.
S3-2 Processes for engaging with affected communities about impacts
Eezy regularly listens to its stakeholders and affected communities, their views and interests in relation to all of its positive
impacts on employment. Communication methods include face-to-face meetings, customer and stakeholder events, and
customer and stakeholder surveys.
Eezy works with trade unions, public administrations and educational institutions. Cooperation with trade unions takes place
both through direct meetings and through Eezy's own employers' association (PALTA ry). Discussions with trade unions focus
mainly on the employment relationships of Eezy's employees, the development of working life and labour legislation, and
various forms of cooperation. In addition to PALTA, cooperation is also carried out with the Confederation of Finnish Industries
(EK). This cooperation is based on representing the interests of the industry and influencing local authorities on matters
important to the industry.
Cooperation with public administration aims to develop working life and find common operating models and various projects
related to working life. For example, Eezy has a representative in the Prime Minister's Office's anti-racism cooperation network
from 2025. Cooperation with educational institutions is based in particular on developing young people's working life skills,
increasing cooperation between educational institutions and companies, and Eezy's educational cooperation.
In 2025, we surveyed the job satisfaction and employee experience of 200 000 Finnish employees through employee surveys.
Stakeholder and community cooperation takes many different forms, depending on the stakeholder. The views of affected
communities are also considered in decisions or actions aimed at managing actual or potential impacts on the community.
Eezy's stakeholders, the methods and frequency of engagement are described in section SBM 2 - Stakeholder interests and
views of this report. Engagement is carried out according to a mutually agreed schedule, ranging from weekly dialogues to a few
times a year, depending on the nature of the issue and the stakeholder. The CEO has overall responsibility for stakeholder
engagement and communication. The Group Legal Director is responsible for cooperation with industry associations and
unions. The Business Managers and/or their designees are responsible for ensuring that their respective areas of responsibility
cooperate and integrate results into policies at operational level with customers, suppliers of goods and services to employees
and educational institutions. The CFO and the CEO are responsible for cooperation with financiers. The Communications
Director is responsible for cooperation with the media. Cooperation with public authorities is the responsibility of the CEO,
supported by the Legal Director and the CFO. The effectiveness of the cooperation will be assessed on a case-by-case basis,
based on feedback and the outcome of the cooperation.
Communities at particularly high risk of exclusion from the labour market may include, for example, immigrant communities or
people with partial work capacity. Eezy meets and listens to the views of these communities, for example in the context of
employment and integration training. The society in which Eezy operates also includes indigenous people, but no specific
impact on indigenous people was identified in the double materiality analysis.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 53
S3-3 Processes to remediate negative impacts and channels for affected communities to
raise concerns
The ESRS double materiality analysis found only substantial positive effects for S3.
Eezy has a whistleblowing service that allows affected communities, stakeholders and third parties to raise concerns or needs
and have them addressed. Eezy's Code of conduct and Whistleblowing are publicly available on the Company's website. More
information on the Whistleblowing Reporting Service can be found in section G1-1 Business Conduct and Culture. The Code of
conduct deals with the protection of whistleblowers from retaliation.
Eezy requires all employees, customers, stakeholders and partners to act in accordance with its Code of Conduct. The Code of
Conduct and information on the notification service are available to all stakeholders and are actively communicated through
multiple channels. The communication processes for the affected communities are presented in section S3-2 and for our own
workforce in section S1-2. A whistleblowing channel is available and communicated also in English.
Eezy is not able to assess the awareness and trust of the whole affected community, i.e. society, in relation to these structures
and the notification channel, and stakeholder involvement is not yet possible. However, Eezy has a proven positive reputation
and stakeholder support according to the Luottamus&Maine survey (December 2023). The study examined Eezy's reputation
and stakeholder support among a b2b decision maker target group. Eezy scored 3.73 on a 5-point scale in the
Luottamus&Maine survey. Eezy's strengths are the positive perceptions associated with governance, i.e. acting in a transparent
and correct manner. In the area of governance, Eezy scored excellent. The analysis considers it important to maintain and
further strengthen this aspect. The reputation structure is stable, and all scores are good or excellent.
S3-4 Taking action on material impacts on affected communities, and approaches to
managing material risks and pursuing material opportunities related to affected
communities, and effectiveness of those actions
Alleviating labour shortages and mismatches and promoting integration
Eezy serves many sectors suffering from labour shortages (e.g. retail, horeca, etc.) or where specific skills are needed. Eezy
Staffing Services alleviates labor shortages and mismatches by recruiting workers needed by its clients in various industries
nationwide. When necessary, we also recruit from abroad, for example, in 2025 kitchen staff and industrial needs. The
measures to alleviate labour shortages and mismatches are ongoing and nationwide in nature, as they are part of Eezy Staffing
services' core business. The effectiveness of the measures taken is monitored through the number of people employed and the
security of supply as part of the day-to-day management of the business.
Preventing social exclusion and promoting social harmony
Promoting flexible employment for people in different situations and from different backgrounds helps prevent potential social
exclusion and maintain social stability. These include flexible part-time work, gig work or light entrepreneurship.
Employment has been shown to prevent social exclusion and promote social harmony. All Eezy's recruitment processes are
non-discriminatory, equal and equal opportunities oriented, taking into account different groups of people and their needs and
human rights. Eezy recruiters are trained annually on the legal topics related to recruitment and the principles of responsible
recruitment. This contributes to ensuring that our society is open to all groups in the workplace. In 2025, Eezy's staff deepened
their expertise in building a non-discriminatory, equal, and diverse working life. Awareness of the same topics was also actively
increased among other Eezy stakeholders through regular multi-channel communication.
The population groups using Eezy’s light entrepreneur services are diverse and include people with a migrant background.
Eezy's light entrepreneur services are continuously developed through service design in partnership with the light entrepreneur
community. The rights of light entrepreneurs are extensively respected and protected, for example, the most comprehensive
liability and accident insurance in the industry is included in the Eezy Light Entrepreneurs' service fee. Strong authentication is
provided when registering with the service, which allows Eezy Light Entrepreneur to automatically receive tax card details from
the tax authorities. Strong authentication also ensures that light entrepreneurship is not abused; it is not possible to register on
behalf of someone else, i.e. an employee cannot be transferred to a light entrepreneur through the service without the person's
knowledge. Eezy Light Entrepreneurs will take care of all the legal obligations applicable to light entrepreneur services, such as
withholding tax, employer's health insurance contribution (for light entrepreneurs with YEL liability), income register declarations
and any withholding and settlement of garnishment. The Eezy Light Entrepreneurs' Customer Service advises users on issues
such as taxation, sending invoices and customer contracts, as well as on breach of contract. In 2025, the Eezy Light
Entrepreneurs business unit has been actively involved in influencing tax administration guidelines. Following a decision by the
Central Tax Board (KVL), the tax deduction rights of light entrepreneurs have become more equitable, and Eezy has ensured
that information about these changes has reached service users. Eezy launched a light entrepreneur expert profile, which
allows users to showcase their expertise. The public profile allows light entrepreneurs to be directly identified by client
companies offering assignments. This supports the employment of light entrepreneurs in a concrete way, as assignments can
be found without the need for continuous marketing efforts.
The recruitment and light entrepreneurship actions are of an ongoing and national nature. They target both the internal
workforce (recruitment) and the downstream end of the value chain (users of light entrepreneurship services). The effectiveness
of the measures is monitored by the proportion of people who have participated in training, employee surveys (e.g.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 54
PeoplePower® and HELA's staffed employee survey and the eNPS indicator for staffed employees and own-account workers)
and, for light entrepreneurs, customer feedback and brand attractiveness surveys carried out approximately once a year.
Eezy facilitates the employment of people whose native language is not Finnish or Swedish, thereby promoting their integration
into Finnish society. Eezy Employment Services trains thousands of immigrants every year in areas such as language skills and
working life skills. Eezy Employment Services has the highest impact in its field in Finland. Measures to promote integration are
ongoing and nationwide in nature and are targeted at the end of the value chain, i.e., service users. Impact figures are
described in the target table in section S3-5.
The areas of application for the key activities described above are Eezy's own operations and workforce, as well as the end of
the value chain, i.e., customers and other stakeholders throughout Finland through communication. The activities are ongoing
and repeated annually.
Training in working life skills and competences
Eezy Employment Services provides services that promote employment and integration for people in different labor market
positions. The aim of the rehabilitation and coaching services offered to people with specific work abilities and those in a weak
labor market position is to support them in finding work, coping at work, or returning to work. The integration services aim to
achieve functional basic language skills (B1.1), which, according to studies, supports the employment of immigrants. Integration
training also promotes education and other forms of integration into Finnish society. All of Eezy Employment Services'
rehabilitation, integration, and coaching services are provided in accordance with legal requirements, and their results are
monitored to ensure their effectiveness.
Effectiveness is measured by the number of trainees who find employment or start studies after the end of the training period.
Eezy has the highest impact in the sector, and training clients are very satisfied with the service. Training activities in
employability skills and competences are continuous and nationwide in nature, targeting the end of the value chain, i.e. the
users of the services.
Developing work cultures in client companies through coaching and management training
The consulting and coaching services that Eezy Flow provides to its client companies can improve company culture and
promote meaningful work, good leadership and the development of good working communities in the wider community,
contributing to the overall growth of companies. Eezy Flow coaches employees in areas such as pre-employment and
leadership training. In 2025, nearly a thousand development projects were carried out for various clients, including those related
to leadership, employee experience and cultural design, and two extensive research reports were published on the state of
employee experience and leadership in Finland. The company also developed onboarding practices that support young
people’s integration into working life through an AI-assisted pilot project carried out in collaboration with its client companies.
Between 2014 and 2025, Eezy Flow has studied the workplace experience and well-being of more than one million Finnish
employees. All such activities have a wider societal impact on well-being, employee experience and job satisfaction. The impact
of the measures, the related actions and the effectiveness of the measures are monitored as part of the day-to-day
management of Eezy's business, for example in terms of customer feedback and the number of downloads of research reports.
All services are available nationwide in Finland and are available to the end of the Eezy value chain, i.e. corporate clients, their
staff or people in coaching. The activity is ongoing in nature and is repeated annually.
The promotion of action plans related to the affected entities does not require significant dedicated OpEx or CapEx expenditure,
nor is it dependent on preconditions such as the provision of funding, as the implementation of these measures is an integral
part of Eezy's business, and thus part of normal Capex/Opex planning. The Opex costs in this case are salary costs.
The resources associated with managing the impacts on the affected communities are effectively Eezy's core business and staff
costs, as the services Eezy sells generate these positive impacts. Examples include the staffed employees that Eezy provides
to alleviate meeting problems, or the work culture and leadership development services, work life skills coaching and integration
training that Eezy sells to its customers. Resources also include investments in areas such as service development, IT systems,
and training. For example, in 2025, expert talks on anti-racism work and the rights of LGBTQ+ people were purchased from
organizations with special expertise in these topics.
Eezy has no identified cases of human rights violations related to affected communities in 2025.
S3-5 Targets related to managing material negative impacts, advancing positive impacts,
and managing material risks and opportunities
Eezy's sustainability programme Good work, Finland! is divided into two main themes: Good Work for All and Prosperous Work
Communities. Our goal is to build a more sustainable working life in Finland. We are developing more prosperous, equal and
diverse work communities and ways of working. The sustainability programme is based on a double materiality assessment, a
UN Sustainable Development Goals impact assessment, an internal staff survey on materiality, customer and stakeholder
interviews and an industry benchmarking.
In the double materiality analysis for the affected entities, we did not identify any material negative impacts, risks or
opportunities. We identified the following positive impacts, for which we have also set targets:
• Alleviating labour shortages and mismatches
• Preventing social exclusion, promoting social harmony and integration
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 55
• Developing work cultures in client companies through coaching and management training
• Training in working life skills and competences
The table below describes the objectives related to these key positive impacts. In line with the corporate governance model, the
targets are set, monitored and managed by the CEO, the Management Team, the Corporate Sustainability and Human
Resources Committee and the Board of Directors. Operational business management is the responsibility of business directors,
business managers and other senior managers in areas such as service development, conducting audits, implementing policies
and procedures and business development.
To support the business, the company has a sustainability team that helps to develop, coordinate and communicate
sustainability work in the Eezy Group. The purpose of the Sustainability Working Group is to ensure that the different business
perspectives are included in Eezy's sustainability work and to promote sustainability thinking, joint development projects and
reporting within the Eezy Group. The members of the working group represent a broad range of business functions and roles.
Eezy's governance model is described in section GOV-1 The role of governance bodies.
The objectives relating to the affected communities will support the achievement of the policy's goals. The targets apply to
Eezy's own operations, except that the development of the PeoplePower® Index reflects the bottom end of the value chain, i.e.
the development of the employee experience of all Eezy client companies or communities that responded to the survey.
Geographically, the targets are limited to Eezy's area of operation, i.e. Finland.
Given the nature of the business, the objectives and target levels are set at an annual level, so no interim milestones have been
set. The measurement of all indicators has been validated by the certification service provider. Depending on the KPI, their
progress is monitored and evaluated on a daily, monthly or annual basis. Monitoring will lead to action where necessary. For
example, in relation to the training objectives, feedback can be collected on the training itself and thus also identify lessons
learned and improvements needed. The number of employees recruited, or foreign recruits also reflects the company's capacity,
scale and demand for services, and these results can be used to adjust and develop the business in the right direction.
Stakeholders have not influenced the setting of the targets, but their experiences and views are listened to as part of the targets,
for example the experiences of staffed employees and jobseekers on equality in recruitment.
For each indicator, targets have been set where they are relevant and can be targeted. For example, the number of employees
cannot be targeted because it is part of Eezy's core business and is dependent on factors such as the economic cycle and
customers' labour needs. For each indicator, it is specified whether the indicator and target are relative or absolute.
The base year is 2023. In some cases, results were not available for 2023 if the activities in question had not yet been carried
out in 2023 (e.g. training on responsible recruitment or the Code of Conduct).
Eezy operates nationwide in Finland, so the indicators and targets are based on the local situation in Finland. In Finland,
challenges related to working life have been identified at a societal level, and Eezy is contributing to solving them, such as
labour shortages, matching challenges and the diversification of working life, both in terms of the people who work and the ways
in which they work.
The prevailing economic situation is reflected in the 2025 results in many ways. The number of people employed has fallen due
to subdued demand in the staffing services market. The difficult economic situation is also reflected in the development of the
PeoplePower index, which measures the well-being of Finnish companies' personnel. The TE reform, which came into force at
the beginning of the year, has in turn caused challenges for the volume and effectiveness of employment services. The number
of whistleblowing reports remained unchanged. The coverage of training related to Eezy's operating principles (code of conduct,
responsible recruitment) was in line with the targets. Eezy's personnel's experience of diversity appreciation in the organization
developed better than the set target. The slight decline in the attendance of other diversity-related training sessions was
influenced by a change in concept: unlike the general information sessions for all staff organized in the first reporting year, the
2025 events were voluntary and focused on individual themes. The targets for 2026 have all been re-evaluated.
Impact, risk or opportunity
KPIs and targets
Data
2023
Data
2024
Target
2025
Data
2025
Target
2026
Alleviating labour shortages
and mismatches
Number of employees
25 000
22 000
not
reported
20 000
not
reported
Preventing social
exclusion and promoting
social harmony
Developing work cultures
in client companies
through coaching and
management training
Responsible recruitment training
completed, % of supervisors involved in
recruiting
n/a
66 %
100 %
59 %
66 %
Participants in internal trainings
promoting diversity and anti-
discrimination in the workplace, % of
own office staff
n/a
67 %
80 %
66 %
70 %
Experience of inclusion: 'The diversity of
our workforce (e.g. age, gender,
background or sexual orientation) is
viewed positively in our company'
(PeoplePower Index development, own
office staff)
n/a
3.41
3.42
3.50
>3.5
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 56
Prosperous workplaces: development of
the People Power Index among all
Finnish respondents 1)
70.1
70.9
72
70.6
71
Code of conduct training completed, %
of own office staff
n/a
100 %
100 %
100 %
100 %
Number of notifications leading to
whistleblowing measures
0
2
0
0
0
Promoting integration
Training in working life
skills and competences
Effectiveness of Eezy employment
services: number of people employed or
enrolled in studies among those who
participated in trainings, %
40 %
40 %
45 %
32 %
40 %
The number of employees is obtained from the ERP systems by reporting the number of persons paid during the reference
period, with only unique personal identifiers in the data, so that each person appears only once in the data. Data includes both
own Plc and franchise chain employees.
The PeoplePower® People Survey is a reliable way to assess the current state and changes in the employee experience in
organisations. The PeoplePower® survey concept is divided into nine themes that assess personal work, team experience,
leadership, Sustainability, organisational leadership and culture on a scale of 1 to 4 (strongly disagree to strongly agree) and
identify the issues behind ownership in terms of commitment, leadership and performance. The resulting PeoplePower® Index
summarises the people experience of client companies. The PeoplePower® Index is calculated from 22 index questions, and
the average is converted into an index on a scale of 0-100. result is 0 if all respondents were extremely critical and 100 if all
respondents were extremely positive in answering all index questions.
For Eezy staff training, monitoring is done through the HR system (recruitment training) or through the monitoring tool of the
digital training platform (Eezymaisteri; Code of conduct training). Code of conduct training is carried out in Eezymaisteri training
platform, which allows direct analysis of the names of participants and comparison with the list of staff. For other trainings,
participants are tracked through attendance lists or impressions of recordings, for example for Teams meetings, which means
that not all participants can be identified, and this creates measurement uncertainty.
In 2025, Eezy experienced significant staff turnover, mostly due to an operational efficiency programme that took place in the
company. As a result, some of the planned trainings were not carried out but were postponed to Q1/2026. During 2025, only 62
out of 105 employees involved in recruitment (managers of office staff members and employees recruiting staffed employees)
were verifiably present in the virtual targeted trainings on responsible recruitment. However, employees have received other
training on the topic in previous years.
The result for “Participants in internal training on promoting diversity and combating discrimination in working life, % of own
employees” is calculated by dividing the average number of participants in training sessions organized for the entire
organization on the theme in each reporting year (including those who attended virtually and those who viewed the training on
the intranet) by the total number of employees on December 31. In 2025, two training sessions were organized on the topic,
with the themes of anti-racism (March 13, 180 participants) and diversity in the workplace (June 4, 182 participants). The
reported percentage of staff has been calculated by dividing the average number of participants (2025: 181 people) by the total
number of own office employees on December 31 (2025: 274 people).
Number of whistleblowing reports reported through the Whistleblowing Channel that led to action (source: Whistleblowing
Channel). The number of notifications is reported annually after the end of the calendar year based on the number of
notifications received by Eezy's Whistleblowing system. The Whistleblowing Channel's operating model and limitations are
described in more detail in section G1-1 Business Conduct and Culture.
Effectiveness of Eezy employment services: each trainer records the employment and other follow-up pathways of their group,
both during the training and 3 months after the end of the training. The data is stored directly in regional systems, along with
other training reporting, and the same information is shared with the client who is the provider. The most important underlying
assumption of the methodology is that effectiveness is measured specifically in terms of employment or access to learning.
Other, softer measures of effectiveness, such as the trainee's experience of the usefulness of the training, are also used to
assess the success of the training. A limitation of the method is the difficulty in obtaining information 3 months after the end of
the training. Limitations and measurement uncertainties include human error by the registrar in recording or a change in the
employment situation after the time of recording (e.g. the student does not start in the place of the employment contract or study
contract for some reason).
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 57
Governance information
ESRS G1 Business conduct
Impact, risk,
opportunity
Description
Position in the
value chain
ESRS/Entity-
specific
disclosure
requirement
G1 Good governance
Positive, actual
impact
A good and inspiring company culture where staff are motivated
and committed. Inspiring values, clear and fair policies, good, fair
and encouraging leadership.
Own operations
ESRS
Positive, actual
impact
Active and responsible lobbying and political influence. Eezy's
active and responsible political lobbying for a better working life for
all.
Own operations
ESRS
Negative, potential
impact
Cases of fraud or corruption in business, such as unfair
competition practices, price fixing or other fraud in customer
competitions or contracts, etc.
Own operations
ESRS
Opportunity
Active political lobbying and advocacy and the resulting improved
business conditions. Political positions actively promoted by Eezy
itself or through interest groups can improve the conditions for
Eezy's business, for example in relation to working conditions
(pay, etc.), training, etc.
Own operations
ESRS
Risk
Sanctions or reputational damage caused by Eezy's own unclear
contractual practices, breaches of contract or corruption.
Inconsistent contractual practices and terms, possible misconduct
in supplier and customer relationships may cause Eezy
reputational damage or even financial and legal consequences.
Own operations
ESRS
Risk
Political decisions that are unfavourable to Eezy's operations and
the associated costs. If Eezy is unsuccessful in lobbying or other
political influence at the national level, for example, this could
result in significant costs or other consequences that could
undermine business conditions. Unethical/unethical lobbying
activities (e.g. at national or municipal level) and the resulting
reputational damage. If Eezy's lobbying activities are deemed to
be unethical or unfair, this could result in reputational damage to
the company.
Own operations
ESRS
G1-1 Business conduct policies and corporate culture
In all its activities, Eezy acts in accordance with legislation, its Code of Conduct and values. Eezy requires all employees,
customers, stakeholders and partners to act in accordance with its Code of conduct. The scope of the Code of conduct
therefore covers the entire Eezy value chain and operations and all Eezy stakeholders, regardless of their geographical location.
The document covers the following topics: Equal, equal and inclusive working life, Safe working environment, Freedom of
association, Non-discrimination, Respect for human rights, Anti-bribery and corruption, Marketing and sponsorship, Sanctions
and money laundering, Business secrets, Compliance with Competition Law, Conflicts of Interest, Climate and Environmental
Impact, Protection of Personal Data, Responsible Use of Technology and Artificial Intelligence, Use of Insider Information,
Whistleblowing, Enforcement, and Monitoring of Non-compliance.
The policies relevant to the material impacts, risks and opportunities associated with the conduct of business can largely be
found in Eezy's Code of conduct. The Code of conduct contains the values reflected in Eezy's corporate culture and supports
the implementation of clear policies and good governance. The Code sets out Eezy's anti-bribery and anti-corruption stance and
supports policies to prevent fraud and corruption, as well as clear contractual practices to prevent breaches. Political lobbying
itself is not described in Eezy's Code of conduct, but the Code of conduct is an essential background to lobbying activities.
The Eezy Code of conduct is publicly available on the Eezy website, so it is accessible to all stakeholders. The Code has been
developed considering the UN Global Compact initiative, the principles of the ILO Declaration of Fundamental Rights at Work
and the human rights as defined by the UN. In addition, the interests of stakeholders were considered when updating the Code
of conduct. As background work, Eezy benchmarked documents such as the Code of Conduct for clients and consulted
customer interviews conducted in 2022, and customer surveys revealed general aspects that stakeholders expect. In addition, a
staff survey on sustainability issues conducted in the summer of 2023 provided staff perspectives.
Eezy ensures that its employees, stakeholders and partners act in accordance with this Code of conduct. This is done through
the company's internal audit and whistleblowing channels. In addition, Eezy may request clarification from its stakeholders and
partners if it suspects any conduct that is in breach of this Code of conduct. On a case-by-case basis, Eezy may also decide to
audit the conduct of a stakeholder or partner.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 58
The highest level of the Eezy organisation responsible for implementing the Code of conduct is the Eezy Board of Directors.
Eezy's strategy from 2024 focused on corporate culture, expertise, and shared success, aiming to make the company the best
possible workplace for its employees. The company culture assessment carried out in 2023 and Eezy's target culture defined in
2024 have guided the work. In the fall of 2025, supervisor skills were strengthened with a training series that specified tools and
shared operating principles related to customer relationship management, financial management, administrative supervisory
work, and corporate culture management.
Employee surveys, including People Impact sustainability questions, measure employee experience and the implementation of
values in everyday life. Based on the results of these surveys, teams hold strategy and values-based discussions to agree on
concrete steps for improvement. Conversations and regular 1-to-1 meetings are a key part of developing a corporate culture,
building a sense of respect and community among employees.
In 2024, the recruitment process was further refined to better reflect the company's culture and values, focusing on improving
the candidate and employee experience, as well as aspects of Sustainability and non-discrimination. Improvements to the
recruitment process included streamlining the process, improving communication and opening career opportunities internally as
well. These measures support the continuous development of the company culture and ensure that Eezy acts responsibly and
non-discriminatorily in all employee-related processes. Key development areas for 2025–2026 include further refining the
process and putting the principles into practice, particularly in relation to staffing.
One important way to promote culture is to invest in local work and its principles, because we want to create and nurture shared
encounters. In 2025, we established Eezy principles for hybrid work and further developed more unified office spaces in
Helsinki, Turku, and Tampere.
The effectiveness of culture development is regularly assessed by conducting staff surveys and analysing the results. The
Board of Directors, the HR & Sustainability Committee and the Management team oversee the process. The results are
discussed at supervisor and team level. They are used to design and implement concrete development measures, which are
continuously monitored and updated. The Management team is closely involved in the development of the culture and ensures
that the company's values are reflected in day-to-day operations. Diversity and inclusion are key principles and are actively
promoted at all levels of the organisation.
Abuses and the reporting channel
The company has a whistleblowing reporting channel in place under the Whistleblowing Act. Accordingly, the Company ensures
that the requirements for whistleblowing, whistleblower protection, case investigation, assessment, communication, training,
personal data processing and information are complied with. Whistleblower protection is based on the Whistleblower Protection
Policy approved by the Company's Board of Directors. The responsibility for monitoring and evaluation lies with the Company's
Board of Directors.
In addition, the Company's internal audit functions, related party monitoring, approval processes and the Company's Code of
Conduct also identify, report and investigate illegal or unlawful activities that violate the Company's Code of Conduct. Eezy has
an anti-corruption and anti-bribery policy, which is further explained in Eezy's Code of conduct. The Code of Conduct is based
on the UN Convention against Corruption.
The Company protects whistleblowers in accordance with the Company's Whistleblower Protection Policy. The Company has
made it possible for whistleblowers to report misconduct anonymously through the Company's whistleblowing channel.
Whistleblower protection applies to persons who have made a report of possible misconduct by the Company, or a person
employed by it in good faith and that the report falls within the scope of the Directive. The existence of misconduct is not a
condition for protection if the whistleblower nevertheless had reasonable grounds to believe that the information was true at the
time of reporting.
The Company will not accept any direct or indirect retaliation or reprisal of any kind against a person enjoying the protection of a
whistleblower. Any direct or indirect act, omission, threat of retaliation or attempted retaliation in connection with the Work that
relates to a report of misconduct or that may otherwise cause unjustified harm to the Reporting Party is prohibited. This means,
inter alia, that the whistleblower is not in danger of losing his or her job or suffering other direct or indirect consequences
because of his or her reporting.
Eezy has a Board of Directors -approved whistleblower protection policy that describes how to deal with abuse situations.
Allegations of abuse can be reported through the Whistleblowing channel under your own name or anonymously. The process
for resolving abuse cases is described in the following diagram:
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 59
The Board of Directors is responsible for monitoring and supervising the company's activities.
The CEO is responsible for the proper organisation of whistleblower protection activities in accordance with the legislation and
regulations in force at the time. The CEO is assisted in this task by a Whistleblowing officer, who is responsible for the general
organisation of the activities and the annual reporting of cases within the Company.
To investigate the notification, the Company has appointed at least two persons to form a Whistleblower Protection Team.
These persons must have the necessary skills and aptitude for the task. Their independence and integrity must be guaranteed
in all circumstances. The investigation shall be assisted by the manager responsible for the suspected wrongdoing or, where the
report concerns the manager responsible for the suspected wrongdoing, by their nominee.
Each year, the Company's Whistleblower Protection Officer will review the number, quality and outcome of the notifications
made during the calendar year ended by the date of the Company's financial statements. The Whistleblower Protection Officer
shall present his report to the Audit Committee, which shall submit it to the Board of Directors of the Company. Allegations of
exceptionally serious misconduct that clearly jeopardise the interests of the Company shall be reported without undue delay to
the Chief Executive Officer. The latter will refer the matter to the Audit Committee or the Board of Directors, as appropriate.
The following principles will be applied in the handling of cases:
• No member of the Whistleblower Protection Team or other person involved in the investigation process will attempt to
identify the whistleblower in any way.
• The whistleblower protection team may, if necessary, ask the whistleblower further questions or request other additional
information relevant to the investigation of the case anonymously through the whistleblowing channel.
• The investigation of the report does not involve a person directly concerned by the suspicion or otherwise connected with
the matter under investigation. These persons are automatically disqualified from participating in the case in question.
The further investigation, remedial measures and possible compensation for cases and human rights impacts covered by the
Whistleblower Protection Act depend on the nature of the verified case. The company's employees' instructions or unlawful
conduct will be addressed primarily through management actions in accordance with the company's internal guidelines. In minor
cases, the employee who has acted improperly will be given a warning in the first instance. In more serious situations, the
employee may be dismissed. Any liability of the employee to the company will be determined in accordance with Chapter 4 of
the Damages Act. Suspected criminal cases are reported to the police, who investigate the possible existence of a crime. The
criminal case and the resulting liability for damages will ultimately be decided by the court system. Any instructions,
recommendations or orders issued by the authorities to the company because of possible misconduct will be considered in the
development of the company's activities. Any fines, penalties or compensation imposed by the authorities will be paid in
accordance with the regulations.
Eezy will pay compensation or reparation to the injured person in accordance with the legal judgment or decision of the court or
competent authority.
Eezy's Code of Conduct and Safe Space Principles are part of the orientation materials for both office staff and staffed
employees. Verified completion of the digital orientation material is a prerequisite for new staffed employees to be assigned
work shifts. In 2025, 100% of Eezy's office staff completed verified online courses on compliance with the above-mentioned
guidelines and on data protection and security. In addition, materials related to the non-discriminatory recruitment process and
the responsible use of artificial intelligence are available to all staff and have been discussed with recruiting managers.
Those responsible for procurement and political influence are the most vulnerable to corruption and bribery.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 60
G1-3 Prevention and detection of corruption and bribery
Eezy does not accept or tolerate bribery or corruption in any form. Eezy is committed to fighting corruption in all its forms,
including extortion and bribery. Services, gifts or benefits that could reasonably be expected to influence decision-making within
the company will not be offered or received.
Eezy does not accept, offer or solicit hospitality or gifts that may influence its own or its partners' decision-making or give the
impression of such influence. Gifts or hospitality given or received must be appropriate. In all cases, there must be a valid
business justification for the hospitality or gift, and its value must be negligible. At no time should hospitality or gifts be contrary
to the law, the internal guidelines of the recipient's employer or generally accepted industry practice. The gift or hospitality given
must not be offensive or immoral. The hospitality or gift must not place the recipient under an obligation of gratitude or create
such an impression. Extra care and caution should be taken in situations where, for example, a business decision is being
prepared or a supervisory or auditing task is being carried out. Eezy does not make donations to political parties. Eezy requires
its customers, partners and stakeholders to comply with the same anti-corruption and anti-bribery rules and policies as it does.
Detection of allegations or incidents
Eezy encourages all its employees, customers and stakeholders to report any allegations of bribery or corruption. Reports can
be made either directly to Eezy's CEO, members of the Management Team or to the Eezy Compliance Legal Director. Reports
can be made either anonymously by contacting Eezy representatives directly or through Eezy's whistleblower protection
channel. Eezy's own employees can report through the Whistleblowing channel on Eezy's intranet. Other parties should report
their allegations of bribery and corruption through the Whistleblowing channel on the Whistleblowing tab of the Eezy website.
Staffed employees report suspected cases of bribery or corruption at user companies directly to the user company. Cases will
be investigated in accordance with the Whistleblower Protection Policy.
Eezy does not have its own internal audit function. These services are procured from an external service provider. The internal
audit function may investigate possible allegations of bribery and corruption if the Audit Committee decides to make this its own
audit subject. Eezy may also decide to conduct a separate Ad Hoc Audit if it suspects corruption or bribery in any of its activities
or in the activities of its employees based on a report made to it or information otherwise obtained during its activities.
Dealing with abuses
The persons dealing with whistleblower events should be independent and uninhibited. Independence means that the Company
must ensure that the case handlers are able to act without any direct or indirect pressure being brought to bear on them or on
the outcome of the investigation. Uninhibition means that the case handler must not have any direct or indirect connection with
the allegation of wrongdoing under investigation. In cases of obstruction, the investigation of suspected wrongdoing shall be
referred to an accessible handler. In situations where obstruction is discovered only after an investigation has been opened, the
case shall be referred immediately to the obstruction handler.
To ensure independence and accessibility, there shall be at least two (2) designated handlers of suspected misconduct. These
persons shall form the Whistleblower Protection Team. Non-Case Handlers shall not have access to Abuse Reports submitted
through the Company's reporting channel. If necessary, the activity of the handlers shall be able to be verified retrospectively
through the log file of the Notification Channel.
Abuses identified in an investigation must be investigated and corrected in accordance with the Company's policies and
procedures for the abuse in question. Further investigation of the misconduct shall be referred to the police, tax authorities or
other authority having jurisdiction over the identified misconduct, as appropriate. The company shall assist the authorities in
investigating the discovered misconduct by all available means as permitted by the relevant legislation.
Each year, the Company's Whistleblower Protection Officer will review the number, quality and outcome of the notifications
made during the calendar year ended by the date of the Company's financial statements. The Whistleblower Protection Officer
presents his report to the Audit Committee, which submits it to the Company's Board of Directors.
Exceptionally serious allegations of misconduct that clearly jeopardise the interests of the Company must be reported without
undue delay to the CEO. The latter will refer the matter to the Audit Committee or the Board of Directors, as appropriate.
Policies, communication and training
The company communicates extensively about the content of the Code of conduct and how to comply with it, the existence of
the Whistleblower Protection Channel and the possibility to report suspected wrongdoing through the channel. The
communication will be carried out in accordance with the Company's communication guidelines and policies. Eezy Plc's Code of
conduct and Whistleblowing are publicly available on the Company's website in both Finnish and English. In addition, their
existence and contents are actively communicated through multiple channels, such as newsletters aimed at different target
groups, internal communication channels and social media.
The company will provide the necessary training and guidance to ensure that people have sufficient knowledge to make a
notification. The company shall provide the necessary training to the Notifier Protection Organisation to ensure that they have
the necessary skills to organise, monitor and control the activities. The training shall be carried out in accordance with the
Company's training guidelines and procedures.
Eezy trains staff on the Company's Code of conduct, including the fight against corruption and bribery. The training is web-
based and is an integral part of the orientation of new employees. For office staff, training is mandatory on an annual basis. The
training programmes cover 100% of risk activities. Administrative, management and supervisory bodies also go through the
training materials.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 61
G1-4 Incidents of corruption or bribery
The following impacts and risks have been identified in relation to Eezy's activities:
• Negative impact: cases of fraud or corruption in business for example, unfair competitive practices, price fixing or other
fraud in customer competitions or contracts, etc.
• Risk: Compensation or reputational damage caused by Eezy's own unclear contractual practices, breaches of contract
or corruption Inconsistent contractual practices and terms, possible abuses in supplier and customer relationships may
cause reputational damage or even financial and legal consequences for Eezy.
Preventing the above is an ongoing effort. The main ways to manage potential negative impacts and risks are:
• Guidance on gift-giving, anti-bribery and anti-corruption is part of Eezy's Board-approved Code of conduct
• Eezy Code of conduct training for staff and communication of the Code of conduct to stakeholders.
• Eezy expects all its customers, partners and stakeholders to comply with the same anti-corruption and anti-bribery
rules and practices as it does itself.
• All significant contracts are handled by Eezy's own legal department and/or legal partner.
• Whistleblowing channel for reporting misconduct.
• Compliance functions are used to monitor the legality of operations.
• Internal audit and risk management measures
Eezy has not been convicted or fined for breaches of anti-corruption and anti-bribery laws.
G1-5 Political influence and lobbying activities
Eezy does not make donations to political parties as outlined in its Code of conduct. Compliance with the policy is monitored by
the Eezy Board and the Audit Committee. The Board is responsible for ensuring compliance with the internal control and audit
policies. The Audit Committee monitors internal audit and control in accordance with the Terms of Reference. In accordance
with the Limited Liability Companies Act, the CEO has overall responsibility for overseeing Eezy's activities. Eezy's Chief Legal
Officer, as Compliance Officer, is responsible for overseeing the legality of Eezy's activities.
Eezy has not made any donations for political purposes in 2025. As part of the Eezy Code of Conduct, it is stated that Eezy
does not make donations for political purposes.
Eezy influences matters that are important to the company's business and the operation of its staffing business. The lobbying
work is primarily carried out through or with Eezy's employers' association, the Employers' Association of the Service Sector
(PALTA ry), and/or the Confederation of Finnish Industries (EK). The channels of influence are the PALTA and EK working
groups, background and preparatory groups and committees in which Eezy is represented. Other channels of influence include
meetings with public authorities, decision-makers and legislators. The Director of Legal Affairs is responsible for political
influence and lobbying at federal level. The main lobbying topics are:
• Reforms related to working life and labor legislation, in which Eezy aims to simplify labor legislation, increasing the flexibility
of the labor market, and improving cooperation between private employment agencies and public authorities to develop
business and the business environment.
• Collective agreements, where Eezy aims to get reforms that take account of changes in working life, increase flexibility and
opportunities for local agreements and improve business conditions.
• Promoting labour migration, where Eezy aims to increase labour migration, improve the conditions for labour migration,
clarify and simplify regulations, administrative practices or permit processes that prevent or slow down entry
• Education policy, where Eezy aims to make education and training more relevant to the needs of working life and
businesses, and to increase cooperation between businesses and educational institutions.
These main themes are in line with the impacts, risks and opportunities identified in the materiality assessment. For example,
Eezy has identified a positive impact in terms of active and responsible lobbying, an opportunity for growth in terms of labour
recruitment from abroad, a risk in terms of difficult access to labour, and an opportunity from improved access to collective
bargaining flexibility. In addition, the positive, social impacts of Eezy in terms of alleviating labour shortages and mismatches,
preventing social exclusion and promoting social peace and integration are all linked to the main lobbying themes.
The primary targets of influence are lawmakers, decision-makers in public authorities and local authorities, representatives of
educational institutions, the media plus employer and employee organisations. Eezy's direct advocacy work focuses primarily on
discussions with representatives of employer and employee associations, legislators, decision-makers, and educational
institutions, as well as on cooperation with educational institutions at the local level.
Eezy is not registered in the EU Transparency Register. During the current reporting period, Eezy has no members of its
administrative, management and supervisory bodies who have held a similar position in public administration in the two years
preceding their appointment.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 62
Annexes
IRO-2 Disclosure Requirements in ESRS covered by the undertaking’s sustainability
statement
List of datapoints in cross-cutting and topical standards that derive from other EU legislation
Disclosure
Requirement
Related
datapoint
Sustainability
disclosure
SFDR
(Sustainable
Finance
Disclosures
Regulation)
reference
Pillar 3 reference
Benchmark
Regulation
reference
EU Climate Law
reference
Paragraph
Page
number
ESRS 2
GOV-1
Paragraph
21 (d)
Board's gender
diversity
Indicator number
13 of Table #1 of
Annex I
Commission
Delegated
Regulation (EU)
2020/1816, Annex
II
The role of the
administrative,
management
and
supervisory
bodies
12
ESRS 2
GOV-1
Paragraph
21 (e)
Percentage of
board members
who are
independent
Delegated
Regulation (EU)
2020/1816, Annex
II
The role of the
administrative,
management
and
supervisory
bodies
12
ESRS 2
GOV-4
Paragraph
30
Statement on due
diligence
Indicator number
10 Table #3 of
Annex I
Statement on
due diligence
17
ESRS 2 SBM-
1
Paragraph
40 (d) i
Involvement in
activities related to
fossil fuel activities
Indicators number
4 Table #1 of
Annex I
Article 449a
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453 Table
1: Qualitative
information on
Environmental risk
and Table 2:
Qualitative
information on
social risk
Delegated
Regulation (EU)
2020/1816, Annex
II
Strategy,
business model
and value chain
18
ESRS 2 SBM-
1
Paragraph
40 (d) ii
Involvement in
activities related to
chemical
production
Indicator number 9
Table #2 of Annex
I
Delegated
Regulation (EU)
2020/1816, Annex
II
Strategy,
business model
and value chain
18
ESRS 2 SBM-
1
Paragraph
40 (d) iii
Involvement in
activities related to
controversial
weapons
Indicator number
14 Table #1 of
Annex I
Delegated
Regulation (EU)
2020/1818, Article
12(1)
Delegated
Regulation (EU)
2020/1816, Annex
II
Strategy,
business model
and value chain
18
ESRS 2 SBM-
1
Paragraph
40 (d) iv
Involvement in
activities related to
cultivation and
production of
tobacco
Delegated
Regulation (EU)
2020/1818, Article
12(1)
Delegated
Regulation (EU)
2020/1816, Annex
II
Strategy,
business model
and value chain
18
ESRS E1-1
Paragraph
14
Transition plan to
reach climate
neutrality by 2050
Regulation (EU)
2021/1119, Article
2(1)
Not material
-
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 63
ESRS E1-1
Paragraph
16 (g)
Undertakings
excluded from
Paris-aligned
Benchmarks
Article 449a
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453
Template 1:
Banking book –
Climate Change
transition risk:
Credit quality of
exposures by
sector, emissions
and residual
maturity
Delegated
Regulation (EU)
2020/1818,
Article12.1 (d) to
(g), and Article
12.2
Not material
-
ESRS E1-4
Paragraph
34
GHG emission
reduction targets
Indicator number 4
Table #2 of Annex
I
Article 449a
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453
Template 3:
Banking book –
Climate change
transition risk:
alignment metrics
Delegated
Regulation (EU)
2020/1818, Article
6
Not material
-
ESRS E1-5
Paragraph
38
Energy
consumption from
fossil sources
disaggregated by
sources (only high
climate impact
sectors)
Indicator number 5
Table #1 and
Indicator n. 5 Table
#2 of Annex I
Not material
-
ESRS E1-5
Paragraph
37
Energy
consumption and
mix
Indicator number 5
Table #1 of Annex
I
Not material
-
ESRS E1-5
Paragraph
s 40–43
Energy intensity
associated with
activities in high
climate impact
sectors
Indicator number 6
Table #1 of Annex
I
Not material
-
ESRS E1-6
Paragraph
44
Gross Scope 1, 2,
3 and Total GHG
emissions
Indicators number
1 and 2 Table #1
of Annex I
Article 449a;
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453
Template 1:
Banking book –
Climate change
transition risk:
Credit quality of
exposures by
sector, emissions
and residual
maturity
Delegated
Regulation (EU)
2020/1818, Article
5(1), 6 and 8(1)
Not material
-
ESRS E1-6
Paragraph
s 53–55
Gross GHG
emissions intensity
Indicators number
3 Table #1 of
Annex I
Article 449a
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453
Template 3:
Banking book –
Climate change
transition risk:
alignment metrics
Delegated
Regulation (EU)
2020/1818, Article
8(1)
Not material
-
ESRS E1-7
Paragraph
56
GHG removals and
carbon credits
Regulation (EU)
2021/1119, Article
2(1)
Not material
-
ESRS E1-9
Paragraph
66
Exposure of the
benchmark
portfolio to climate-
related physical
risks
Delegated
Regulation (EU)
2020/1818, Annex
II
Delegated
Regulation (EU)
Not material
-
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 64
2020/1816, Annex
II
ESRS E1-9
Paragraph
66 (a)
Disaggregation of
monetary amounts
by acute and
chronic physical
risk
Article 449a
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453
paragraphs 46 and
47; Template 5:
Banking book -
Climate change
physical risk:
Exposures subject
to physical risk.
Not material
-
ESRS E1-9
Paragraph
66 (c)
Location of
significant assets
at material physical
risk
Not material
-
ESRS E1-9
Paragraph
67 (c)
Breakdown of the
carrying value of its
real estate assets
by energy-
efficiency classes
Article 449a
Regulation (EU)
No 575/2013;
Commission
Implementing
Regulation (EU)
2022/2453
paragraph 34;
Template 2:
Banking book -
Climate change
transition risk:
Loans
collateralised by
immovable
property - Energy
efficiency of the
collateral
Not material
-
ESRS E1-9
Paragraph
69
Degree of
exposure of the
portfolio to climate-
related
opportunities
Delegated
Regulation (EU)
2020/1818, Annex
II
Not material
-
ESRS E2-4
Paragraph
28
Amount of each
pollutant listed in
Annex II of the E-
PRTR Regulation
(European
Pollutant Release
and Transfer
Register) emitted
to air, water and
soil
Indicator number 8
Table #1 of Annex
I
Indicator number
2 Table #2 of
Annex I
Indicator number
1 Table #2 of
Annex I
Indicator number
3 Table #2 of
Annex I
Not material
-
ESRS E3-1
Paragraph
9
Water and marine
resources
Indicator number 7
Table #2 of Annex
I
Not material
-
ESRS E3-1
Paragraph
13
Dedicated policy
Indicator number 8
Table 2 of Annex I
Not material
-
ESRS E3-1
Paragraph
14
Sustainable
oceans and seas
Indicator number
12 Table #2 of
Annex I
Not material
-
ESRS E3-4
Paragraph
28 (c)
Total water
recycled and
reused
Indicator number
6.2 Table #2 of
Annex I
Not material
-
ESRS E3-4
Paragraph
29
Total water
consumption in m3
per net revenue on
own operations
Indicator number
6.1 Table #2 of
Annex I
Not material
-
ESRS 2 –
IRO-1 – E4
Paragraph
16 (a) i
Indicator number 7
Table #1 of Annex
I
Not material
-
ESRS 2 –
IRO-1 – E4
Paragraph
16 (b)
Indicator number
10 Table #2 of
Annex I
Not material
-
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 65
ESRS 2 –
IRO-1 – E4
Paragraph
16 (c)
Indicator number
14 Table #2 of
Annex I
Not material
-
ESRS E4-2
Paragraph
24 (b)
Sustainable land /
agriculture
practices or
policies
Indicator number
11 Table #2 of
Annex I
Not material
-
ESRS E4-2
Paragraph
24 (c)
Sustainable
oceans / seas
practices or
policies
Indicator number
12 Table #2 of
Annex I
Not material
-
ESRS E4-2
Paragraph
24 (d)
Policies to address
deforestation
Indicator number
15 Table #2 of
Annex I
Not material
-
ESRS E5-5
Paragraph
37 (d)
Non-recycled
waste
Indicator number
13 Table #2 of
Annex I
Not material
-
ESRS E5-5
Paragraph
39
Hazardous waste
and radioactive
waste
Indicator number 9
Table #1 of Annex
I
Not material
-
ESRS 2 –
SBM-3 – S1
Paragraph
14 (f)
Risk of incidents of
forced labour
Indicator number
13 Table #3 of
Annex I
Not material
-
ESRS 2 –
SBM-3 – S1
Paragraph
14 (g)
Risk of incidents of
child labour
Indicator number
12 Table #3 of
Annex I
Not material
-
ESRS S1-1
Paragraph
20
Human rights
policy
commitments
Indicator number 9
Table #3 and
Indicator number
11 Table #1 of
Annex I
Policies related
to own
workforce
33
ESRS S1-1
Paragraph
21
Due diligence
policies on issues
addressed by the
fundamental
International Labor
Organisation
Conventions 1 to 8
Delegated
Regulation (EU)
2020/1816, Annex
II
Policies related
to own
workforce
33
ESRS S1-1
Paragraph
22
Processes and
measures for
preventing
trafficking in
human beings
Policies related
to own
workforce
34
ESRS S1-1
Paragraph
23
Workplace
accident
prevention policy
or management
system
Indicator number 1
Table #3 of Annex
I
Policies related
to own
workforce
35
ESRS S1-3
Paragraph
32 (c)
Grievance/complai
nts handling
mechanisms
Indicator number 5
Table #3 of Annex
I
Processes to
remediate
negative
impacts and
channels for
own workforce
to raise
concerns
37
ESRS S1-14
Paragraph
88 (b) and
(c)
Number of fatalities
and number and
rate of work-related
Indicator number 2
Table #3 of Annex
I
Delegated
Regulation (EU)
2020/1816, Annex
II
Health and
safety metrics
49
ESRS S1-14
Paragraph
88 (e)
Number of days
lost to injuries,
accidents, fatalities
or illness
Indicator number 3
Table #3 of Annex
I
Health and
safety metrics
49
ESRS S1-16
Paragraph
97 (a)
Unadjusted gender
pay gap
Indicator number
12 Table #1 of
Annex I
Delegated
Regulation (EU)
2020/1816, Annex
II
Compensation
metrics (pay
gap and total
compensation)
50
ESRS S1-16
Paragraph
97 (b)
Excessive CEO
pay ratio
Indicator number 8
Table #3 of Annex
I
Compensation
metrics (pay
gap and total
compensation)
50
ESRS S1-17
Paragraph
103 (a)
Incidents of
discrimination
Indicator number 7
Table #3 of Annex
I
Incidents,
complaints and
severe human
rights impacts
50
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 66
ESRS S1-17
Paragraph
104 (a)
Non-respect of
UNGPs on
Business and
Human Rights and
OECD
Indicator number
10 Table #1 and
Indicator n. 14
Table #3 of Annex
I
Delegated
Regulation (EU)
2020/1816, Annex
II
Delegated
Regulation (EU)
2020/1818 Art 12
(1)
Incidents,
complaints and
severe human
rights impacts
50
ESRS 2 –
SBM-3 – S2
Paragraph
11 (b)
Significant risk of
child labour or
forced labour in the
value chain
Indicators number
12 and n. 13 Table
#3 of Annex I
Not material
-
ESRS S2-1
Paragraph
17
Human rights
policy
commitments
Indicator number 9
Table #3 and
Indicator n. 11
Table #1 of Annex
I
Not material
-
ESRS S2-1
Paragraph
18
Policies related to
value chain
workers
Indicator number
11 and n. 4 Table
#3 of Annex I
Not material
-
ESRS S2-1
Paragraph
19
Non-respect of
UNGPs on
Business and
Human Rights
principles and
OECD guidelines
Indicator number
10 Table #1 of
Annex I
Delegated
Regulation (EU)
2020/1816, Annex
II
Delegated
Regulation (EU)
2020/1818, Art 12
(1)
Not material
-
ESRS S2-1
Paragraph
19
Due diligence
policies on issues
addressed by the
fundamental
International Labor
Organisation
Conventions 1 to 8
Delegated
Regulation (EU)
2020/1816, Annex
II
Not material
-
ESRS S2-4
Paragraph
36
Human rights
issues and
incidents
connected to its
upstream and
downstream value
chain
Indicator number
14 Table #3 of
Annex I
Not material
-
ESRS S3-1
Paragraph
16
Human rights
policy
commitments
Indicator number 9
Table #3 of Annex
1 and Indicator
number 11 Table
#1 of Annex I
Policies related
to affected
communities
52
ESRS S3-1
Paragraph
17
Non-respect of
UNGPs on
Business and
Human Rights, ILO
principles or and
OECD guidelines
Indicator number
10 Table #1 Annex
I
Delegated
Regulation (EU)
2020/1816, Annex
II
Delegated
Regulation (EU)
2020/1818, Art 12
(1)
Policies related
to affected
communities
52
ESRS S3-4
Paragraph
36
Human rights
issues and
incidents
Indicator number
14 Table #3 of
Annex I
Taking action
on material
impacts on
affected
communities
and
approaches to
managing
material risks
and pursuing
material
opportunities
related to
affected
communities,
and
effectiveness of
those actions
53
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 67
ESRS S4-1
Paragraph
16
Policies related to
consumers and
end-users
Indicator number 9
Table #3 and
Indicator number
11 Table #1 of
Annex I
Not material
-
ESRS S4-1
Paragraph
17
Non-respect of
UNGPs on
Business and
Human Rights and
OECD guidelines
Indicator number
10 Table #1 of
Annex I
Delegated
Regulation (EU)
2020/1816, Annex
II
Delegated
Regulation
(EU)2020/1818, Art
12 (1)
Not material
-
ESRS S4-4
Paragraph
35
Human rights
issues and
incidents
Indicator number
14 Table #3 of
Annex I
Not material
-
ESRS G1-1
Paragraph
10 (b)
United Nations
Convention against
corruption
Indicator number
15 Table #3 of
Annex I
Business
conduct and
corporate
culture
57
ESRS G1-1
Paragraph
10 (d)
Protection of
whistle-blowers
Indicator number 6
Table #3 of Annex
I
Business
conduct and
corporate
culture
57
ESRS G1-4
Paragraph
24 (a)
Fines for violation
of anti-corruption
and anti-bribery
laws
Indicator number
17 Table #3 of
Annex I
Delegated
Regulation (EU)
2020/1816, Annex
II
Incidents of
corruption or
bribery
61
ESRS G1-4
Paragraph
24 (b)
Standards of anti-
corruption and anti-
bribery
Indicator number
16 Table #3 of
Annex I
Incidents of
corruption or
bribery
61
ESRS content index
General information
ESRS 2
General disclosures
Disclosure requirement
Page number
BP-1
General basis for preparation of sustainability statements
11
BP-2
Disclosures in relation to specific circumstances
11
GOV-1
The role of the administrative, management and supervisory bodies
11
GOV-2
Information provided to and sustainability matters addressed by the undertaking’s administrative, management and
supervisory bodies
15
GOV-3
Integration of sustainability-related performance in incentive schemes
15
GOV-4
Statement on due diligence
17
GOV-5
Risk management and internal controls over sustainability reporting
17
SBM-1
Strategy, business model and value chain
18
SBM-2
Interests and views of stakeholders
19
SBM-3
Material impacts, risks and opportunities and their interaction with strategy and business model
21
IRO-1
Description of the processes to identify and assess material impacts, risks and opportunities
22
IRO-2
Disclosure requirements in ESRS covered by the undertaking’s sustainability statement
24
Environmental
Information
ESRS E1
Climate change
Disclosure requirement
Page number
ESRS 2, IRO-1
Description of the process processes to identify and assess material impacts, risks and opportunities about climate
change
22
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 68
Helsinki, 10 February 2026
Eezy Plc
Board of Directors
Social information
ESRS S1
Own workforce
Disclosure requirement
Page number
ESRS 2, SBM-2
Interests and views of stakeholders
31
ESRS 2, SBM-3
Material impacts, risks and opportunities and their interaction with strategy and business model
31
S1-1
Policies related to own workforce
33
S1-2
Processes for engaging with own workforce and workers’ representatives about impacts
36
S1-3
Processes to remediate negative impacts and channels for own workers to raise concerns
37
S1-4
Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material
opportunities related to own workforce, and effectiveness of those actions
38
S1-5
Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and
opportunities
43
S1-6
Characteristics of the undertaking’s employees
45
S1-8
Collective bargaining coverage and social dialogue
47
S1-9
Diversity metrics
47
S1-10
Adequate wages
48
S1-11
Social protection
48
S1-13
Training and skills development metrics
48
S1-14
Health and safety metrics
49
S1-15
Work-life balance metrics
49
S1-16
Compensation metrics (pay gap and total compensation)
50
S1-17
Incidents, complaints and severe human rights impacts
50
Social information
ESRS S3
Affected communities
Disclosure requirement
Page number
ESRS 2, SBM-2
Interests and views of stakeholders
51
ESRS 2, SBM-3
Material impacts, risks and opportunities and their interaction with strategy and business model
51
S3-1
Policies related to affected communities
52
S3-2
Processes for engaging with affected communities about impacts
52
S3-3
Processes to remediate negative impacts and channels for affected communities to raise concerns
53
S3-4
Taking action on material impacts on affected communities, and approaches to managing material risks and pursuing
material opportunities related to affected communities, and effectiveness of those actions
53
S3-5
Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and
opportunities
54
Governance information
ESRS G1
Business conduct
Disclosure requirement
Page number
ESRS 2, GOV-1
The role of the administrative, supervisory and management bodies
11
ESRS 2, IRO-1
Description of the processes to identify and assess material impacts, risks and opportunities
22
G1-1
Business conduct policies and corporate culture
57
G1-3
Prevention and detection of corruption and bribery
60
G1-4
Confirmed incidents of corruption or bribery
61
G1-5
Political influence and lobbying activities
61
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 69
Key figures, calculation formulas and
reconciliations
Eezy presents selected key figures which relate to the performance and financial position of the company. All these key figures
are not measures defined in the IFRS and thus considered as alternative performance measures. The companies do not
calculate alternative performance measures in a uniform way, and thus the alternative performance measures presented by
Eezy may not be comparable with the similarly named key figures presented by other companies.
Key figures
EUR thousand, unless otherwise
specified
2025
2024
2023
2022
2021
Key figures for income statement
Revenue
139 335
174 054
218 974
247 596
203 328
EBITDA
9 031
10 281
14 519
18 231
19 492
EBITDA margin, %
6.5 %
5.9 %
6.6 %
7.4 %
9.6 %
EBIT
164
2 339
4 031
10 004
11 812
EBIT margin, %
0.1 %
1.3 %
1.8 %
4.0 %
5.8 %
Earnings per share, basic, EUR
-0.09
-0.01
0.03
0.29
0.31
Earnings per share, diluted, EUR
-0.09
-0.01
0.03
0.28
0.30
Weighted average number of outstanding
shares, pcs
25 046 815
25 046 815
25 046 815
25 046 815
24 883 655
Weighted average number of outstanding
shares, diluted, pcs
25 263 553
25 225 236
25 277 374
25 287 264
25 081 134
Number of outstanding shares at the end of
reporting period, pcs
25 046 815
25 046 815
25 046 815
25 046 815
25 046 815
Key figures for balance sheet
Net debt
46 182
52 749
58 001
52 466
48 702
Net debt excluding IFRS16
42 377
47 076
50 383
47 307
44 200
Net debt/EBITDA
5.1 x
5.1 x
4.0 x
2.9 x
1)
2.4 x
1)
Gearing, %
43.5 %
48.6 %
52.8 %
46.4 %
44.6 %
Equity ratio, %
56.3 %
55.8 %
53.2 %
52.2 %
52.8 %
Equity per share, EUR
4.24
4.34
4.39
4.51
4.36
Key figures for cash flow
Operative free cash flow
8 864
7 489
5 898
13 908
6 244
Purchase of tangible and intangible assets
-4 460
-3 229
-2 899
-2 998
-1 688
Acquisition of subsidiaries, net of cash
acquired
-
-476
-
-6 125
-4 609
Operative key figures
Chain-wide revenue, EUR million
233.8
257.4
307.6
351.6
305.5
Franchise-fees, EUR million
6.0
5.1
5.2
6.3
7.1
Light entrepreneurship invoicing volume,
EUR million
34.3
34.7
38.9
42.3
41.4
1)
EBITDA is based on estimated pro forma EBITDA of last 12 months.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 70
Reconciliation of Certain Alternative Performance Measures
EUR thousand
2025
2024
2023
2022
2021
EBITDA
EBIT
164
2 339
4 031
10 004
11 812
Acquisition related amortization
and impairment losses
1)
4 110
3 215
5 891
4 061
4 045
Other depreciation, amortization
and impairment losses
4 756
4 727
4 597
4 165
3 636
Total depreciation, amortization
and impairment losses
8 866
7 942
10 488
8 226
7 680
EBITDA
9 031
10 281
14 519
18 231
19 492
Operative free cash flow
Cash flows from operating
activities before financial items
and taxes
15 628
13 201
11 399
19 494
9 982
Purchase of tangible and
intangible assets
-4 460
-3 229
-2 899
-2 998
-1 688
Payment of lease liabilities
-2 304
-2 483
-2 603
-2 588
-2 050
Operative free cash flow
8 864
7 489
5 898
13 908
6 244
1)
The acquisition related amortization comprises the amortization made on the recognized fair value adjustments arisen from business combinations.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 71
Calculation of key figures
Key figures for income statement
EBITDA
=
Operating profit + Depreciation, amortization and impairment losses
EBITDA margin, %
=
EBITDA / Revenue x100
Operating profit (EBIT)
=
Operating profit
Operating profit margin, %
=
Operating profit / Revenue x100
Earnings per share, basic
=
Profit for the period attributable to the owners of the parent company /
Weighted average number of outstanding shares
Earnings per share, diluted
=
Profit for the period attributable to the owners of the parent company /
Weighted average number of outstanding shares taking into account
obligations arising from potential dilutive share issues of the Parent
Company in the future
Key figures for balance sheet
Net debt
=
Interest bearing liabilities - interest-bearing receivables - cash at bank
and in hand
Net debt excluding IFRS16
=
Net debt - IFRS 16 items
Net debt / EBITDA
=
Net debt / EBITDA
Gearing
=
Net debt / Equity x100
Equity ratio
=
Equity / (Total equity and liabilities - advances received) x100
Equity per share
=
Equity / Number of outstanding shares at the end of reporting period
Key figures for cash flow
Operative free cash flow
=
Cash flow from operating activities presented in the cash flow statement
before financing items and taxes - purchase of tangible and intangible
assets - payment of lease liabilities
Purchase of tangible and intangible
assets
=
Investments in tangible and intangible assets presented in the cash flow
statement
Acquisition of subsidiaries, net of cash
acquired
=
Acquired shares of subsidiaries presented in the cash flow statement
Operative key figures
Chain-wide revenue
=
Consolidated revenue + revenue of chain franchisees - franchise fees
(and other significant internal chain revenue)+ light entrepreneurship
invoicing volume to the extent it is excluded from consolidated revenue
Franchise fees
=
Fees paid by franchisees based on revenue and/or gross profit + entry
fees
Light entrepreneurship invoicing
volume
=
Invoicing volume of the light entrepreneurship services
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 72
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 73
Consolidated statement of comprehensive
income (IFRS)
EUR thousand
Note
1 Jan – 31 Dec 2025
1 Jan – 31 Dec 2024
Revenue
3
139 335
174 054
Other operating income
4
587
504
Materials and services
5
-6 721
-8 562
Personnel expenses
6, 7
-111 945
-141 510
Other operating expenses
8, 9
-12 226
-14 204
Depreciation, amortization and impairment losses
10
-8 866
-7 942
Operating profit
164
2 339
Financial income
11
205
687
Financial expense
11
-3 799
-3 434
Financial income and expenses
11
-3 595
-2 747
Profit before taxes
-3 430
-409
Income taxes
12
1 186
210
Profit for the financial year
-2 244
-199
Comprehensive income for the financial year
-2 244
-199
Profit attributable to
Owners of the parent company
-2 322
-306
Non-controlling interests
78
108
Profit for the financial year
-2 244
-199
Earnings per share attributable to the owners of the
parent company
Earnings per share, basic (EUR)
23
-0.09
-0.01
Earnings per share, diluted (EUR)
23
-0.09
-0.01
The notes are an integral part of the consolidated financial statements.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 74
Consolidated balance sheet (IFRS)
EUR thousand
Note
31 Dec 2025
31 Dec 2024
ASSETS
Non-current assets
Goodwill
15
141 654
141 654
Intangible assets
15
20 033
22 197
Property, plant and equipment
16
3 355
5 016
Investments in shares
18
240
240
Receivables
20, 26
822
1 460
Deferred tax asset
19
668
396
Total non-current assets
166 774
170 963
Current assets
Trade receivables and other receivables
20, 26
17 624
22 060
Current income tax receivables
49
154
Cash and cash equivalents
21
4 102
1 619
Total current assets
21 775
23 833
TOTAL ASSETS
188 549
194 795
EQUITY AND LIABILITIES
Equity attributable to the owners of the parent company
Share capital
22
80
80
Reserve for invested unrestricted equity
22
107 876
107 876
Retained earnings
22
-4 603
-2 286
Total equity attributable to the owners of the parent
company
103 353
105 670
Non-controlling interests
2 777
2 968
Total equity
106 130
108 638
Non-current liabilities
Loans from financial institutions
24, 26
43 893
44 988
Lease liabilities
17, 24, 26
2 060
3 274
Other liabilities
25, 26
24
78
Deferred tax liability
19
2 103
3 241
Total non-current liabilities
48 079
51 582
Current liabilities
Loans from financial institutions
24, 26
2 485
3 600
Lease liabilities
17, 24, 26
1 746
2 399
Trade payables and other liabilities
25, 26
29 901
28 284
Current income tax liabilities
208
293
Total current liabilities
34 340
34 575
Total liabilities
82 419
86 157
TOTAL EQUITY AND LIABILITIES
188 549
194 795
The notes are an integral part of the consolidated financial statements.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 75
Consolidated cash flow statement (IFRS)
EUR thousand
Note
1 Jan – 31 Dec 2025
1 Jan – 31 Dec 2024
Cash flows from operating activities
Customer payments received
144 149
182 371
Cash paid to suppliers and employees
-128 521
-169 170
Cash flows from operating activities before
financial items and taxes
15 628
13 201
Interest paid
-3 124
-3 239
Interest received
146
111
Other financial items
-329
30
Income taxes paid
-204
-598
Net cash flows from operating activities
12 117
9 505
Cash flows from investing activities
Purchase of tangible and intangible assets
15, 16
-4 460
-3 229
Proceeds from sale of tangible assets
16
0
133
Acquisition of subsidiaries, net of cash acquired
14
-
-476
Net cash flows from investing activities
-4 460
-3 571
Cash flows from financing activities
Change in non-controlling interests
28
-
-557
Repayment of current borrowings
24
-2 600
-2 106
Payment of lease liabilities
24
-2 304
-2 483
Dividends paid
22
-269
-438
Net cash flows from financing activities
-5 173
-5 585
Net change in cash and cash equivalents
2 484
348
Cash and cash equivalents at the beginning of the
financial year
1 619
1 270
Cash and cash equivalents at the end of the
financial year
4 102
1 619
The notes are an integral part of the consolidated financial statements.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 76
Changes in equity (IFRS)
Attributable to owners of the parent
EUR thousand
Note
Share
capital
Reserve for
invested
unrestricted
equity
Retained
earnings
Total
Non-
controlling
interests
Total equity
Equity 1 Jan 2025
80
107 876
-2 286
105 670
2 968
108 638
Profit for the financial year
-
-
-2 322
-2 322
78
-2 244
Total comprehensive
income
-
-
-2 322
-2 322
78
-2 244
Transactions with owners
Dividend distribution
22
-
-
-
-
-269
-269
Changes in non-controlling
interests
28
-
-
-
-
-
-
Share based payments
7
-
-
5
5
-
5
Total equity 31 Dec 2025
80
107 876
-4 603
103 353
2 777 [object Object]
106 130
Attributable to owners of the parent
EUR thousand
Note
Share
capital
Reserve for
invested
unrestricted
equity
Retained
earnings
Total
Non-
controlling
interests
Total equity
Equity 1 Jan 2024
80
107 876
-1 819
106 137
3 774
109 911
Profit for the financial year
-
-
-306
-306
108
-199
Total comprehensive
income
-
-
-306
-306
108
-199
Transactions with owners
Dividend distribution
22
-
-
-
-
-447
-447
Changes in non-controlling
interests
28
-
-
-168
-168
-467
-635
Share based payments
7
-
-
7
7
-
7
Total equity 31 Dec 2024
80
107 876
-2 286
105 670
2 968
108 638
The notes are an integral part of the consolidated financial statements.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 77
Notes to the Consolidated Financial
Statements
1. General information and basis of presentation
Basic information about the Group
Eezy’s services include staffing services, professional services as well as light entrepreneurship services. Staffing services are
provided through franchisees in addition to Group companies. Services are provided to a broad range of sectors including the
hotel and restaurant, retail, manufacturing, construction and health care services sectors.
Eezy Plc (“parent company”, “Eezy Plc”), the parent company of Eezy Group (“Eezy”, “Group”) is a Finnish public limited
company with a business ID of 2854570-7. The domicile of Eezy Plc is in Helsinki, Finland and the registered postal address is
PL 901, 20101 Turku, Finland. Eezy Group consists of the parent company Eezy Plc and its subsidiaries.
A copy of the consolidated financial statements is available on the website www.eezy.fi.
The board of directors of Eezy Plc has approved the publication of these financial statements in its meeting on 10 February
2026. According to the Finnish Limited Liability Companies Act, shareholders are authorized to approve or reject the financial
statements in the Annual General Meeting held after the publication. The Annual General Meeting can also decide on the
amendments of the financial statements.
Basis of preparation
These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards
(IFRS) and interpretations issued by the SIC and IFRIC interpretations in force as of 31 December 2025. International Financial
Reporting Standards refer to the standards and their interpretations approved for application in the EU in accordance with the
procedure stipulated in the EU Regulation (EC) No. 1606/2002 and embodied in the Finnish Accounting Act and provisions
under it. The notes to the consolidated financial statements have also been prepared in accordance with the requirements in
Finnish accounting legislation and Community law that complement IFRS regulations.
The consolidated financial statements are prepared for a calendar year, which is the financial period of the parent company and
the Group companies. The consolidated financial statements are presented in thousands of euros, unless otherwise stated.
Additionally, the sum of individual numbers may deviate from the presented sum figure due to rounding differences. The
comparative prior year information is presented in brackets after the information for the current financial year. The consolidated
financial statements are presented in euros, which is the parent company’s functional and presentation currency.
The information in the consolidated financial statements is based on original acquisition costs, except where otherwise stated in
the accounting policy.
Segments
Staffing is the core business of the Group, and the Group operates in the domestic market. The Board of Directors of the parent
company is the chief operating decision maker (CODM) that makes resource allocation decisions and reviews the profit or loss.
The operations of the Group are managed and reviewed as a whole and therefore the Group has only one segment. The figures
that the CODM reviews do not differ materially from the figures presented in the consolidated income statement and balance
sheet. No geographical information is presented as the Group operates only in Finland.
Foreign currency items
The consolidated financial statements are presented in euros, which is the parent company’s functional and presentation
currency. Group’s transactions are mainly denominated in euros. Foreign currency transactions are translated into the functional
currency using the exchange rates at the dates of the transaction.
2. Significant management judgement and estimates
The preparation of consolidated financial statements requires management to use judgement and estimates and to exercise
judgment in the application of accounting policies, which have an impact on the application of the accounting policy and the
amounts of significant assets, liabilities, income and expenses. The actual results may differ from these estimates. The changes
in accounting estimates are recognized in the financial year in which the change in estimate occurs as well as in future financial
years on which they have an impact.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 78
The key accounting estimates and assumptions used in the preparation of the consolidated financial statements that have the
greatest effect on the figures presented in the consolidated financial statements are described in more detail in the following
notes:
• Business combinations (note 14)
• Goodwill and intangible assets (note 15)
• Leases (note 17)
• Deferred tax assets and liabilities (note 19)
• Financial risk management (note 26)
The management has exercised judgement in determining the number of reporting segments (note 1) and in the application of
accounting policies in the financial statements regarding the measurement of lease assets and liabilities in the statement of
financial position (note 17).
Estimates and judgement are continually evaluated. They are based on historical experience and other factors, including
expectations of future events that may have a financial impact on the company and that are assumed to be reasonable under
the circumstances.
The impact of climate change on estimates and the Group's business operations
Group has assessed that climate change has no significant direct effects, as the Group's business does not involve significant
raw material or energy purchases. Climate change causes mainly indirect effects through the climate sensitivities of different
customer industries. The Group's wide customer base reduces dependence on individual customers.
The key assumptions of impairment testing
Group assesses every reporting date if there are indicators of impairment of goodwill. If any signs are detected, the carrying
value of goodwill is compared to recoverable amount. The business growth and EBITDA used in goodwill impairment testing are
based on management’s assessment of future development considering the general weak economic development and its effect
on the economic outlook in HR services. In addition, the increased competition in the personnel service and recruitment market
has taken into account. More information on goodwill and intangible assets is provided in note 15.
Financial risk management
The most significant financial risks for Eezy are liquidity risk and credit risk.
Liquidity risk relates to ensuring and maintaining sufficient financing for Eezy. Eezy strives to continuously assess and monitor
the amount of financing needed for the business operations, by, among others, performing a monthly analysis on the sales
development and investment needs in order to ensure the Group has sufficient liquid assets to finance the operations and to
repay the borrowings when they fall due.
Credit risk arises especially from trade receivables. The Group monitors continuously the level of write downs on receivables
and changes the models by taking into account existing conditions and forward-looking information.
More information on financial risk management is provided in note 26.
3. Revenue
Eezy’s revenue comprises income from staffing services delivered both by group’s own staffing units and through the franchise
chain, and from professional services including light entrepreneurship services.
In staffing services Eezy provides the customer with the resources agreed. Eezy seeks employees through open applications as
well as through its own employee pool in order to find an employee fulfilling the customer requirements within a short notice.
The employee signs the employment contract with Eezy and Eezy is responsible for all the employer obligations, but work is
performed under the customer company’s management. Staffing services’ revenue consists of income from services performed
and invoiced by Eezy Group companies.
In franchising services, Eezy signs a contract with local franchisees, which gives the local company the right to sell services
using Eezy’s business concept and brand. Eezy also offers business support services to their customers. Franchising revenue
comprises charges based on cooperation agreements.
In the professional services area, Eezy provides consulting services for organizational development, cultural design, and
personnel surveys. Eezy also provides recruitment, aptitude testing, training, and executive search services. Additionally, Eezy
provides workforce training, coaching, guiding and rehabilitation services for the public sector as well as entrance examination
courses and courses for upper secondary school students for private customers.
Light entrepreneurship services comprise the invoicing and business support services provided to the employee customers and
the revenue from light entrepreneurship services comprise the fees collected from the employee customers. With the light
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 79
entrepreneurship services provided to private persons they can operate as independent entrepreneurs without establishing a
company of their own.
Revenue is reported divided into two service areas: Staffing services and Professional services. The revenue from staffing
services includes both the group’s own staffing services and the franchise fees. The revenue of professional services includes
professional services and light entrepreneurship services.
Revenue by service area:
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Staffing services 115 666 145 506 Professional services 24 013 29 011 Common functions and eliminations -344 -464 Total revenue 139 335 174 054
Bad debt provisions related to trade receivables and contractual assets are presented in note 26.
Eezy does not have incremental costs for obtaining a contract or costs to fulfil a contract.
Accounting policy
Revenue recognition
Revenue is recognized when service or goods have been delivered and control is perceived to been transferred to the customer
to amount in which Eezy expects to be entitled to based on the customer contract in exchange for the services performed.
Staffing services
In staffing services Eezy signs a contract with the customer, in which the personnel resourced required by the customer are
determined, and for which Eezy invoices according to principles defined in the contract. The range of services, contract terms
and the length of the contract varies by customers. Assignments are mainly fixed-term contracts.
Staffing services are considered as a series of (distinct) services, as each working hour is a distinct item, services are
substantially the same and have the same pattern of transfer to the customer over time. These series of services are recognized
as one performance obligation.
The price for the services is agreed on the customer contract, in which set prices are given for each service. Customer contracts
do not include any significant variable consideration. The staffing services are mainly invoiced every two weeks. Typical
payment term is 14 days net.
Revenue is recognized over time as the customer benefits from the staffing services simultaneously as services are rendered. In
addition, Eezy utilizes the practical expedient provided in IFRS 15 and recognizes the revenue for services provided by the
reporting date in the amount to which it has a right to invoice.
Franchising
Eezy Group signs cooperation agreements with chain entrepreneurs, which, based on management judgement, comprises the
following performance obligations. According to the cooperation agreement, Eezy provides to the local franchisee firstly the
franchising right, i.e. the right to sell services using Eezy’s business concept and brand and secondly business support services.
According to the cooperation agreement, a local entrepreneur pays a cooperation fee to Eezy which includes the franchising
rights and business support services. The franchising right is a license as the local entrepreneur is given a right to use Eezy’s
intellectual property. Revenue is recognized over time. The cooperation charges are payments based on the local
entrepreneurs’ revenue and/or gross profit and revenue is recognized as the local entrepreneurs’ sales occurs. Revenue from
the business support services is also recognized over time as the customer simultaneously benefits from the service as Eezy
provides it.
Professional services
The Professional services area provides research, training and development services for companies’ personnel, management
consultancy and recruitment services (direct searches, suitability assessments and relocation). It also provides coaching
services for high school and university students and employment services in the form of training, coaching, integration, guidance
and rehabilitation services. With Eezy’s light entrepreneurship services, a private individual can operate independently as an
entrepreneur without establishing their own company by invoicing their customers through the Eezy’s service. Professional
services are considered as a series of distinct services, as each working hour is a distinct item, services are substantially the
same and have the same pattern of transfer to the customer over time. Revenue from these services is recognized as services
are rendered.
The customer contracts do not include return or refund obligations or specific terms on warranties. Typical payment term agreed
in the contract is 14-30 days net.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 80
Light entrepreneurship services
Light entrepreneurship services comprise invoicing and administration services provided to the customers. A private individual
selling one’s own expertise, invoices the services provided through Eezy’s service and receives the payment agreed with their
customer with Eezy’s fee deducted from the balance. According to the management only one performance obligation is included
in the customer contract: an invoicing service, which includes separate tasks. Although the service includes separate tasks, all
are substantially the same, and have the same pattern of transfer to the customer (series of distinct services). Revenue from
invoicing service is recognized as services are rendered, i.e. when the client’s customer is invoiced.
Contractual assets and liabilities
Contract assets are presented in other current and non-current receivables and related liabilities in current and non-current
other liabilities. Receivables that Eezy has an unconditional right to receive, i.e. only the passage of time is required before
payment of the consideration is due, are presented as trade receivables.
4. Other operating income
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Grants received 23 49 Compensation received - 78 Gain on disposal of tangible assets - 48 Other operating income 565 329 Total 587 504
5. Materials and services
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Recruitment costs, purchases and subcontracting -1 308 -1 366 Rent on premises -766 -1 255 Other external services -4 646 -5 942 Total -6 721 -8 562
Other external services consist primarily of subcontracting and other services.
6. Personnel expenses
Eezy’s personnel expenses consists of wages and salaries, pension and social security expenses and expenses related to the
share-based payments. The Group’s pension plans are classified as defined contribution plans.
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Wages and salaries -93 428 -117 738 Pension expenses -16 029 -20 356 Share-based payments (note 7) -9 -4 Other social security expenses -2 478 -3 412 Total -111 945 -141 510
Key management remuneration is presented in note 13.
Accounting policy
Pension obligations are classified as defined benefit plans or defined contribution plans. The Group’s statutory pension plans in
Finland are classified as defined contribution plans. For defined contribution plans, the Group pays contributions to a separate
fund, i. e. pension insurance companies. The Group does not have legal or constructive obligations to further payments if the
und does not have sufficient assets to pay the employee benefits related to the employee service from current and prior periods.
Contributions to the defined contribution plans are recognized in the income statement in the period to which the contributions
relate. Eezy does not have any defined benefit plans.
The average number of employees during the financial year in presented in the table below:
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 81
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Salaried employees 354 452 Workers 2 033 2 499 Total 2 387 2 951
7. Share-based payments
The Board of Directors of Eezy Plc decided on 17 December 2019 on a long-term share-based compensation plan (LTIP 2019-
2026) targeted to key employees. The aim of the incentive plan is to align the objectives of the shareholders and the key
personnel to increase the value of the company as well as to ensure the execution of business strategy on a long-term basis. In
addition, the aim is to engage the key personnel of the company and to offer them a competitive incentive plan based on share
ownership and the development of the company’s value. The payment of the compensation is subject to the condition that the
key employee’s employment or service relationship has not been terminated prior to the payment. Additionally, the payment is
subject to achieving the set revenue and operating profit margin targets. The amount of compensation paid is subject to the
achievement levels of the performance targets.
The share-based incentive plan contains five earning periods. The first 13 months earning period started on 1 December 2019
and ended on 31 December 2020. The second 13 months earning period started on 1 December 2020 and ended on 31
December 2021. The third 16 months earning period started on 1 December 2021 and ended on 31 March 2023. The fourth 24
months earning period started on 1 January 2023 and ended on 31 December 2024. The fifth 24 months earning period started
on 1 January 2025 and ends on 31 December 2026. The Company’s Board of Directors determines the reward criteria and their
target levels as well as the employees covered by the incentive plan before the beginning of each earning period.
No shares were issued for the first, second, third and fourth earning periods.
On 10 December 2024, Eezy Plc’s board of directors resolved the fifth earning period of the long-term incentive plan for the
company’s key employees. The fifth earning period is 24 months, started on 1 January 2025 and ends on 31 December 2026.
The reward criteria for the fourth earning period are based on Eezy Plc’s total shareholder return, operating profit percent and
an ESG component. A maximum of 256 000 reward shares could be awarded for the fifth earning period.
Long-term (2019-2026) Number of participants Earning period 8 Earning period 15 Earning period 18 Earning period 8 Earning period 7 share-based 1 Jan 2025 – 1 Jan 2023 – 1 Dec 2021 – 1 Dec 2020 – 1 Dec 2019 – compensation plan 31 Dec 2026 31 Dec 2024 31 Mar 2023 31 Dec 2021 31 Dec 2020 Number of shares granted (maximum) 256 000 256 000 246 000 179 091 137 210 Changes in the number of shares granted -36 000 -90 000 -68 000 - -31 008 Number of shares not exercised - 166 000 178 000 179 091 106 202 Number of shares granted as at 31 Dec 2025 220 000 - - - - Share price at the beginning of service 1.15 3.25 5.92 4.87 6.25 Performance conditions Service condition Service condition Service condition Service condition Service condition Eezy Plc’s total Eezy Plc’s total Revenue growth shareholder shareholder Revenue and Revenue and and operating return return operating profit % operating profit % profit % Operating profit Operating profit % % An ESG An ESG component component Estimated time of payment March 2027 No payment No payment No payment No payment Payment method Combination of Combination of Combination of Combination of Combination of shares and cash shares and cash shares and cash shares and cash shares and cash
The amount of expenses recognized in the accounting period is EUR 9 (4) thousand, of which EUR 5 (4) thousand is from the
share portion and recognized within the equity. The amount of the liability recognized in the balance sheet is EUR 5 (0)
thousand as at 31 December 2025.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 82
Accounting policy
Eezy has a share-based compensation plan where the settlement is a combination of equity and cash. The cost is recognized
over the period during which the employee must remain in the company’s payroll in order the award to vest. Cost is recognized
from the grant date or the service beginning date, whichever is earlier, until the settlement date.
The component paid as equity (shares) is recognized as an expense measured at the grant date fair value and is not
remeasured after the grant date. The performance conditions of the arrangement are non-market conditions and are not taken
into account in the grant date fair value but instead are considered by adjusting the number of shares that are expected to vest.
The expense recognized is based on management’s judgement on the likelihood of achieving the performance conditions, and
as such the number of shares that are expected to vest. In addition, the expense recognized is impacted by the company’s
management’s estimate on the number of participants in the arrangement that will remain in the company’s payroll until the
award is settled. The achievement of vesting conditions is estimated at the end of each reporting period and ultimately the
amount recognized is based on the number of shares that eventually vest. The cash-settled component is measured at the end
of each reporting period and at the liability settlement date. Also, for the cash-settled award, the amount recognized is impacted
by the management’s estimate on the achievement of performance targets and the number of the participants in the
arrangement that will remain in the company’s payroll until the award is settled.
The expense on the component settled in shares is recognized as personnel expenses and the corresponding amount is
credited in retained earnings. The cash-settled amount is recognized as personnel expenses and as non-current other liabilities
in the balance sheet.
8. Other operating expenses
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Administrative expenses -3 525 -3 284 IT machinery and software expenses -2 641 -3 277 Marketing expenses -1 733 -2 242 Personnel related expenses -1 337 -1 950 Travelling expenses -1 145 -1 669 Facility maintenance expenses -366 -402 Transaction expenses related to acquisitions - -7 Credit losses -274 154 Other expenses * -1 205 -1 525 Total -12 226 -14 204
*)
Other expenses consist of multiple items that are not material separately.
9. Auditors’ fees
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Statutory audit 223 211 Other advisory services* 34 59 Tax advisory services 14 15 Other services 23 3 Total 294 289
*Other advisory services includes sustainability statement audit fees 34 thousand euro (57 thousand euro).
Auditor fees include the fees paid to the auditors of each Group company. Eezy Plc’s auditor is KPMG Oy Ab.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 83
10. Depreciation, amortization and impairment
Depreciation, amortization and impairment by asset class is presented in the table below:
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Acquisition related amortization Trademarks -60 -61 Customer relationships -2 823 -2 843 Non-competition agreements -218 -311 Total -3 101 -3 215 Acquisition related impairment Trademarks -12 - Customer relationships -961 - Non-competition agreements -36 - Total -1 009 - Total acquisition related amortization and impairment -4 110 -3 215 Other intangible assets, amortization and impairment Trademarks -14 -14 IT software -1 932 -917 Development costs -405 -324 Total -2 351 -1 256 Total amortization and impairment, intangible assets -6 461 -4 471 Property, plant and equipment, depreciation and impairment Buildings -78 -176 Buildings, right-of-use -2 114 -3 048 Machinery and equipment -37 -34 Machinery and equipment, right-of-use -156 -193 Other -21 -21 Total -2 406 -3 471 Total other depreciation, amortization and impairment losses * -4 757 -4 727 Total depreciation, amortization and impairment losses -8 866 -7 942
The acquisition-related amortization comprises the amortization made on the recognized fair value adjustments arisen from
business combinations.
*)
Total other depreciation, amortization and impairment losses is total depreciation, amortization and impairment losses less the acquisition related amortization and
impairment.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 84
11. Financial income and expenses
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Financial income Interest income from receivables 146 111 Other financial income 59 118 Revaluation of debt - 458 Total 205 687 Financial expenses Interest expenses from borrowings -3 286 -3 009 Interest expenses from lease liabilities -214 -308 Other interest expenses -38 -57 Other financial expenses -261 -61 Total -3 799 -3 434 Total financial income and expenses -3 595 -2 747
12. Income taxes
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Current income tax expense -279 -491 Adjustments to taxes for prior periods 55 17 Total current income tax expenses -225 -474 Change in deferred tax assets 272 124 Change in deferred tax liabilities 1 139 560 Deferred tax expense/benefit 1 411 684 Total income taxes 1 186 210
The reconciliation between income tax expense and tax payable is presented in the table below:
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Result for the period before taxes -3 430 -409 Tax calculated at the Finnish tax rate of 20% 686 82 Tax effect of tax free and non-deductible items: Effect of the expenses not deductible for tax purposes -170 -29 Effect of the tax-free income 2 100 Adjustments in respect to acquisitions 392 0 Recognition of deferred tax assets for previously unrecognized losses 221 38 Tax losses for which no deferred income tax asset was recognized - 2 Adjustments in respect to prior years 55 17 Total income taxes 1 186 210
Deferred tax assets and liabilities have been measured using the tax rate of 20%. The effective tax rate of the Group was
35 (51)%.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 85
Accounting policy
The tax expense in profit or loss consists of the tax based on the taxable income for the financial year and deferred taxes.
Taxes are recognized in the profit or loss, except when they are directly related to the items recognized in equity or other
comprehensive income, when the tax impact is also recognized as a corresponding item within equity. Taxes based on the
taxable income for the financial year are calculated using the applicable income tax rate in each country. The tax expense for
the financial year is adjusted by any taxes related to the previous financial years.
13. Related party transactions
Eezy’s related parties include Eezy Plc’s members of the board of directors, CEO and substitute CEO, and the group
management team, group entities and shareholder exercising control or significant influence over the company. In addition,
related parties include their close family members and the companies where the above-mentioned persons exercise controlling
power. The Group structure is presented in note 27.
Transactions and balances with related parties:
EUR thousand 2025 2024 Communities that hold significant control in community Sales 165 3 094 Purchases -1 -58 Trade receivables and other receivables 5 12
Related party transactions are made on the same terms and conditions as transactions with independent parties. Transactions
with NoHo Partners have been reported as related party transactions until beginning of April 2024. Related party loans and
receivables are presented in notes 20, 25 and 26.
Key management remuneration (accrual basis) is presented below:
Board of Directors remuneration
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Tapio Pajuharju 62 59 Kati Hagros 31 29 Tomi Laaksola, from 9 April 2024 30 23 Maria Pajamo 32 31 Paul-Petteri Savolainen 31 29 Jarno Suominen, until 9 April 2024 - 6 Mika Uotila 31 30 Mikko Wiren 32 31 Total 249 238
Key management wages and salaries
(not including CEO)
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Wages, salaries and benefits 1 244 982
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 86
CEO remuneration
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Wages, salaries and benefits CEO, from 15 May 2025 235 - CEO, until 14 May 2025 315 307 Total 550 307
In 2025, CEO’s remuneration includes termination benefits (non-competition compensation).
Management compensation
(Board of Directors, CEO, key management)
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Short-term employee benefits 1 722 1 566 Post-employment benefits 280 223 Termination benefits 368 - Share-based payments 5 3 Total 2 375 1 794
CEO pension obligations and severance compensation
The CEO participates in the statutory Finnish pension scheme (TyEL) under the Employees’ Pension Act under which the
pension is based on the service period and earnings. No specific retirement age has been agreed. The pension expenses
recognized were EUR 65 (53) thousand. The CEO’s term of notice is six months in case the CEO decides to resign and if the
contract is terminated by the company. The CEO will receive normal compensation during the termination period and is entitled
to separate non-competition compensation.
14. Business combinations
Acquisitions 2025
During the financial year 2025 there were no acquisitions.
Acquisitions 2024
Eezy increased its ownership in Eezy Valmennuskeskus Ltd by 10%, which decreased the contingent consideration related to
Eezy Valmennuskeskus by approx. EUR 0.9 million and resulted in financial income of approx. EUR 0.5 million. Eezy
Valmennuskeskus Ltd has been consolidated by 100-percent to Eezy Group (IFRS) since its initial acquisition date.
Divestments in financial year 2025 - 2024
During financial years 2025- 2024 there were no disposal of subsidiaries.
Accounting policy
The acquisitions are accounted for using the acquisition method. The cost of the acquisition is measured at the fair value of
consideration transferred comprising of the fair values of the assets transferred, liabilities incurred to the former owners of the
acquired business, equity interests issued as purchase consideration, and the fair value of any contingent consideration
arrangement. The excess of the aggregate of the consideration transferred over the fair value of the net identifiable assets
acquired is goodwill.
On the acquisition of a subsidiary, fair values are attributed to the identifiable net assets including identifiable intangible assets
and contingent liabilities acquired.
Significant management judgement and estimates
The net assets acquired are measured at fair value. The fair value of the net assets acquired is based on market value or
estimated expected cash flows (customer relationships, trademarks and non-competition agreements) or the estimated market
value of similar assets. Eezy’s management has used judgement and made assumptions in the customer relationship and
trademark fair value determination, which is based on the management assumptions and estimates of the expected long-term
revenue and profitability development, length of the customer relationships and discount rate. In addition to the assumptions
mentioned, management has made assumptions on the possible impact of competition on Eezy’s business when valuing non-
competition agreements. If the estimates and assumptions of the development of the business turn out to be too optimistic, an
impairment may be required to be recognized on the assets. The management believes that the estimates and assumptions
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 87
used are appropriate when determining fair values. The trademarks, customer relationships and non-competition agreements
recognized as a result of acquisitions are presented in note 15.
The fair value of the contingent consideration included in the acquisition purchase consideration is determined based on the
present value of the expected cash flows. The final purchase consideration may differ from the amount estimated by
management and these changes in fair value are recognized in the statement of comprehensive income. The carrying values of
the contingent considerations recognized at the balance sheet date are presented in note 25.
15. Goodwill and intangible assets
Customer Non-relation-competition Develop-Intangible EUR thousand Goodwill Trademarks IT Software ships agreements ment costs assets total Cost at 1 Jan 2025 141 654 3 640 16 955 28 618 1 284 1 610 52 106 Additions - - 3 797 - - 501 4 298 Disposals - - -1 - - - -1 Cost at 31 Dec 2025 141 654 3 640 20 751 28 618 1 284 2 110 56 402 Accumulated amortization and impairment at 1 Jan 2025 - -3 143 -9 587 -15 775 -711 -693 -29 909 Disposals - - 1 - - - 1 Amortization - -74 -1 875 -2 823 -218 -405 -5 395 Impairment - -12 -57 -961 -36 - -1 066 Accumulated amortization and impairment at 31 Dec 2025 - -3 229 -11 517 -19 560 -965 -1 098 -36 369 Net carrying value at 1 Jan 2025 141 654 497 7 368 12 842 572 917 22 197 Net carrying value at 31 Dec 2025 141 654 411 9 233 9 058 319 1 012 20 033
Customer Non-relation-competition Develop-Intangible EUR thousand Goodwill Trademarks IT Software ships agreements ment costs assets total Cost at 1 Jan 2024 141 654 3 639 14 251 28 618 1 613 1 147 49 269 Additions - 0 2 705 - - 462 3 168 Disposals - - -2 - -329 - -331 Cost at 31 Dec 2024 141 654 3 640 16 955 28 618 1 284 1 610 52 106 Accumulated amortization and impairment at 1 Jan 2024 - -3 068 -8 669 -12 932 -729 -369 -25 767 Disposals - - - - 329 - 329 Amortization - -75 -917 -2 843 -311 -324 -4 471 Accumulated amortization and impairment at 31 Dec 2024 - -3 143 -9 587 -15 775 -711 -693 -29 909 Net carrying value at 1 Jan 2024 141 654 571 5 582 15 686 884 778 23 500 Net carrying value at 31 Dec 2024 141 654 497 7 368 12 842 572 917 22 197
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 88
Goodwill impairment testing
Goodwill is tested for impairment annually to identify any impairment. In addition, the Group monitors any internal and external
indicators to identify any signs of impairment. If signs are detected, the carrying value of goodwill is compared to recoverable
amount.
In the goodwill impairment testing, the carrying value of the group of cash generating units (CGU) is compared to the
recoverable amount of the CGU. Eezy has one group of CGU which is the segment defined by the company and is the level
used to monitor the goodwill.
If the recoverable amount of the CGU is lower than the carrying value, the difference is recognized as an impairment loss in the
statement of comprehensive income. Impairment tests have indicated that the recoverable amount of the CGU exceeds the
carrying value and goodwill has not been impaired.
Impairment testing and the key assumptions
The recoverable amount of the CGU is determined using a value-in-use method. Value-in-use is calculated by discounting the
future cash flows. The calculation of the recoverable amount is impacted primarily by changes in the forecasted EBITDA,
discount rate used and the estimated revenue growth. The business growth and EBITDA are based on management’s
assessment of the future market demand and environment.
The key assumptions used in the value-in-use calculations:
31 Dec 2025 31 Dec 2024 The average cumulative increase in revenue, forecast period 9.9% 7.2% Terminal growth assumption 2.0% 2.0% Average EBITDA, forecast period 9.5% 9.0% Forecasted EBITDA, terminal value 10.0% 10.0% Pre-tax discount rate 11.0% 10.5%
Impairment testing calculations are based on the cash flow forecasts and the budget prepared by the Group’s management
team and approved by the Board of Directors, including the forecast and terminal periods. A five-year forecast period is used in
the impairment testing calculations. The (after-tax) discount rate used is based on the weighted average cost of capital (WACC).
The management has determined the following assumptions used in the calculations:
Assumption Description Revenue growth Revenue growth is based on the review period forecast. The impact of the acquisitions completed in the financial year on the Group’s revenue has been considered in the growth forecast. EBITDA EBITDA is based on the budgeted, forecasted profitability development in the review period as well as expected long-term profitability. Terminal growth assumption The growth assumption for the terminal period has been determined as 2% which represents the long-term inflation projections Discount rate The discount rate is determined based on peer company analysis.
The forecasted cash flows are based on the existing business of the group cash generating unit at the time of testing.
Expansion investments have not been considered in the cash flow forecast estimates. The group’s cash generating unit
provides mainly staffing services.
The management judgement and estimates regarding the future have a central role in preparing the impairment testing
calculations. The discounted cash flow method used in preparing the calculations requires forecasts and assumptions of which
the most significant relate to revenue growth, the development of costs, the level of maintenance investments and changes in
the discount rate. The main uncertainty factors in calculations are the general weak economic development as well as the level
of inflation and interest rates in Finland and their effect on the economic outlook in HR services. In addition, the increased
competition in the personnel service and recruitment market has taken into account. The growth assumption for the terminal
period has been determined as 2% which represents the long-term inflation projections. It is possible that the predictions related
to the cash flow forecasts are not achieved. As a result, the impairment of goodwill or other assets may have a significantly
negative effect on the result and the financial position in future periods.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 89
The result of impairment testing is assessed by comparing recoverable amount of CGU to carrying value of CGU as follows:
Recoverable amount / Carrying value Test result less than 1.0 Impairment 1.0-1.2 Exceeds slightly 1.2-1.5 Exceeds clearly more than 1.5 Exceeds remarkably
In 2025 and 2024, impairment testing has been performed quarterly. The impairment testing result slightly exceeds; the
recoverable amount exceeds the carrying value by EUR 25.8 (47.3) million. No impairment losses have been recognized in any
financial periods presented. The management has prepared a sensitivity analysis for the key factors. The table below shows the
required change in assumptions that would lead to the recoverable amount being equal to the carrying amount, provided that
the assumptions change one at a time.
Sensitivity analyses 2025 2024 Decline in EBIT margin more than 1.2 percentage units more than 1.8 percentage units Increase in discount rate more than 1.4 percentage units more than 2.4 percentage units
Accounting policy
Group’s intangible assets comprise mainly goodwill arising from business combinations and other intangible assets identified in
connection with the business combinations, such as trademarks, non-competition agreements and customer relationships.
An intangible asset is recognized only if it is probable that future economic benefits will flow to the company and its cost can be
measured reliably. Other intangible assets with finite useful lives identified in business combinations are recognized separately
from goodwill in the balance sheet if they meet the definition of an asset, are identifiable or arise from contracts or legal rights,
and their fair value can be measured reliably.
Goodwill
Goodwill arising from business combinations is the excess of the consideration paid, amount of non-controlling interest in the
acquired entity and acquisition-date fair value of any previous equity interests in the acquired entity over the fair value of the net
identifiable assets acquired. Goodwill represents the consideration paid for the future economic benefits that cannot be
separately identified and recognized.
Goodwill is not amortized, but its carrying amount is tested for impairment. Impairment loss is immediately recognized in the
income statement if the carrying amount exceeds the recoverable amount. Impairment losses on goodwill are not reversed.
Goodwill is measured at cost less any accumulated impairment losses incurred.
Trademarks
Eezy has obtained trademarks for the acquired companies in the business combinations. As part of the purchase price
allocation a value has been determined for significant trademarks and they are recognized in intangible assets.
IT software
IT software is included in intangible assets and its cost is amortized over the useful life of the software. Cost associated with
maintaining the software is recognized as an expense as incurred. Costs directly attributable to the development of new
software are capitalized as part of the software. Accounting for cloud computing arrangements depends on whether the cloud-
based software classifies as an intangible asset or a service contract which is recognized under other operating expenses.
Cloud-based software cannot be capitalized, but customization, configuration or other costs related to its implementation may
be capitalized if IAS 38 criteria are met.
Customer relationships
In the business combinations, a value has been determined for the existing customer contracts and customer relationships as a
part of the purchase price allocation. The value determined in connection with the purchase price allocation has been
recognized in intangible assets.
Non-competition agreements
In business combinations the seller generally agrees to a non-competition agreement related to staffing services for a limited
duration. As part of the purchase price allocation a value has been determined for non-competition arrangements and they are
recognized in intangible assets.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 90
Development costs
Research expenses are booked as an expense as they are incurred. Development costs are recognized as an intangible asset
when the Group can demonstrate that:
• the technical feasibility of completing the intangible asset so that the asset will be available for use or sale,
• the intention is to complete and its ability and intention to use or sell the asset,
• the asset will generate future economic benefits,
• the availability of resources is to complete the asset,
• is the ability to measure reliably the expenditure during development.
The development costs recognized as assets are amortized over their estimated useful lives. Development costs previously
recognized as an expense are not recognized as an asset in a subsequent period.
Intangible assets are amortized over the following estimated useful life:
Trademarks
10 years
IT software
3-5 years
Non-competition agreements
2-3 years
Customer relationships
7-10 years
Development costs
3-5 years
The residual value, useful life and amortization methods are reviewed at least at each financial year-end and adjusted to reflect
the changes in economic benefit expectations.
The amortization of intangible assets is commenced, when the asset is ready for its intended use. Amortization is terminated
when an intangible asset is classified (or included in the group that is classified) as held for sale in accordance with IFRS 5 Non-
current Assets Held for Sale and Discontinued Operations.
Impairment of tangible and intangible assets
The Group estimates at the end of each balance sheet date if any indications of impairment exist. If such exists, the recoverable
amount of the assets is estimated. In addition, the recoverable amount is estimated annually regardless of indications of
impairment for the following assets: goodwill, intangible assets with indefinite useful life, and intangible assets under
construction. The need for impairment is monitored at the level of cash generating units (CGU), which is the lowest level that is
largely independent of the cash inflows from other groups of assets.
The recoverable amount is the higher of an asset’s fair value less costs of disposal and its value in use. The value in use is the
estimate of the future cash flows of an asset or cash generating unit which are discounted to present value. The pre-tax rate
which represents the market view of time value of money and risks associated to asset or cash generating unit is used as a
discount rate.
Impairment loss is recognized if the carrying value of an asset is higher than the recoverable amount. Impairment loss is
recognized in profit and loss. The useful life of the asset is reassessed when an impairment loss is recognized.
Impairment is reversed if there is a change in estimates used in determining the recoverable amount of an asset. Impairment is
not reversed over the carrying value of the asset without recognition of impairment. An impairment loss recognized for goodwill
is not reversed in any circumstances.
Significant management judgement and estimates
Business combinations
In business combinations, management makes estimates related to e.g. future cash flows of an acquired business, fair value
adjustments, value and useful life of trademarks and synergies obtained from the acquisition.
Goodwill impairment testing
In the goodwill impairment testing, the carrying value of the group of cash generating units (CGU) is compared to the
recoverable amount of the CGU at least annually and when there are indications that it might be impaired. The recoverable
amount of the cash generating units is based on value in use calculations. Industry specific factors have been taken into
account in the discount rate used.
The recoverable amount used in impairment testing is assessed by using budgets, forecasts and terminal periods and the
sensitivity is analyzed for discount rate, profitability, and changes in residual value growth factors. Changes in these estimates
or in the structure or number of cash generating units or group of units may cause impairment in the fair value of assets or
goodwill. The estimates concern the expected sale prices of services, expected price development of service costs, and
discount rate.
The value-in-use estimates require forecasts and assumptions, of which the most significant concern the revenue growth and
development of costs, the level of maintenance investments and changes in the discount rate. It is possible that the predictions
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 91
related to cash flow forecasts are not achieved. As a result, the impairment of goodwill or other assets may have a significant
negative effect on the result and financial position in the future periods.
16. Property, plant and equipment
EUR thousand
Buildings
Buildings,
right-of-use
Machinery
and
equipment
Machinery and
equipment,
right-of-use
Other
Total
Cost at 1 Jan 2025
789
10 513
1 144
702
96
13 243
Additions
141
852
3
48
-
1 044
Disposals
-
-942
-114
-317
-
-1 372
Revaluation
-
-256
-
-40
0
-296
Cost at 31 Dec 2025
931
10 167
1 033
393
97
12 619
Accumulated depreciation and
impairment at 1 Jan 2025
-656
-6 054
-1 076
-407
-34
-8 228
Disposals
-
942
112
317
-
1 370
Depreciation
-75
-1 787
-12
-156
-21
-2 051
Impairment
-3
-327
-26
-
-
-356
Accumulated depreciation and
impairment at 31 Dec 2025
-735
-7 227
-1 001
-246
-55
-9 264
Net carrying value
at 1 Jan 2025
133
4 458
68
294
62
5 016
Net carrying value
at 31 Dec 2025
196
2 940
31
146
41
3 355
Machinery Machinery and Buildings, and equipment, EUR thousand Buildings right-of-use equipment right-of-use Other Total Cost at 1 Jan 2024 887 10 134 1 224 738 95 13 078 Additions 25 310 10 239 - 583 Disposals -123 -24 -90 -201 - -438 Revaluation - 94 - -74 1 20 Cost at 31 Dec 2024 789 10 513 1 144 702 96 13 243 Accumulated depreciation and impairment at 1 Jan 2024 -585 -3 032 -1 066 -415 -14 -5 110 Disposals 104 24 24 201 - 353 Depreciation -76 -2 256 -34 -193 -21 -2 579 Impairment -100 -792 - - - -892 Accumulated depreciation and impairment at 31 Dec 2024 -656 -6 054 -1 076 -407 -34 -8 228 Net carrying value at 1 Jan 2024 302 7 102 159 323 81 7 969 Net carrying value at 31 Dec 2024 133 4 458 68 294 62 5 016
Accounting policy
Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses and is recognized in
the balance sheet when it is probable that future economic benefits will flow to the Group and costs can be measured reliably.
The cost of property, plant and equipment comprises the expenses directly attributable to the acquisition. The subsequent
expenses incurred are recognized in the carrying value of an item of property, plant and equipment or as a separate item if it is
probable that future economic benefits will flow to the Group and costs can be measured reliably. Repair and maintenance
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 92
expenses are recognized in profit or loss as incurred. If an item of property, plant and equipment consists of several separate
parts that have different useful life each part is recognized as a separate item.
The Groups property, plant and equipment are depreciated over the estimated useful life. The depreciation periods are 5-8
years.
The residual value and useful life of property, plant and equipment are reviewed at least annually at the balance sheet date and
impairment adjustments are made if necessary. The Group estimates if there are any indications for impairment at each balance
sheet date. If the carrying value of the asset is greater than the recoverable amount, the carrying value of the asset is reduced
to its recoverable amount immediately. An item of property, plant and equipment classified as held for sale in accordance with
IFRS 5 is not depreciated.
The gains and losses from the sale of property, plant and equipment are presented in the other operating income or expenses.
The gain or loss is determined as a difference between the sales price and carrying value.
17. Leases
Eezy’s leases relate primally to premises and cars. The most significant leases are for the premises in the largest cities in which
the operations have been centralized. These leases are mainly 3 to 5-year fixed term leases. Leases may include extension
options and it is determined on a lease-by-lease basis if the extension option is exercised or not. Smaller premises have been
leased for a perpetual term.
Right-of-use assets are presented in note 16.
The following lease liabilities are included in the borrowings in the balance sheet:
Lease liabilities
EUR thousand 31 Dec 2025 31 Dec 2024 Current 1 746 2 399 Non-current 2 060 3 274 Total 3 806 5 673
The maturity of the lease liabilities is presented in note 26.
The following amounts related to leases are recognized in profit or loss:
EUR thousand 1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Depreciation -1 943 -2 449 Impairment losses -327 -792 Interest expenses from lease liabilities -214 -308 Lease expenses from short term leases -28 -107 Lease expenses from leases of low value assets -729 -789
The total cash outflow for leases in 2025 was EUR 3 275 (3 688) thousand.
Accounting policy
Right-of-use assets are measured at cost comprising the amount of the lease liability and any prepayments. Right-of-use assets
are depreciated over the shorter of the asset’s useful life and the lease term.
Lease liability is initially measured at the commencement of the lease at the present value of the future payments. Lease
payments include fixed payments and variable lease payments based on an index. Lease payments are discounted using the
lessee’s incremental borrowing rate.
Eezy’s leases include variable lease payments based on an index which are not included in the measurement of the lease
liability until they realize. The lease liability is remeasured when the lease payment based on an index change. A corresponding
adjustment is done to the right-of-use asset amount.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 93
Lease payments are allocated between principal and finance cost. The finance cost is expensed over the lease term to produce
a constant periodic rate of interest on the remaining balance of the liability for each period.
Eezy’s leases include lease components and non-lease components. The consideration in the contract is allocated to the lease
and non-lease components based on their relative stand-alone prices.
Payments for short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in the
result for the period. Short-term leases are leases with a lease term of 12 months or less. Exemption is applied to all classes of
underlying assets. Low-value assets comprise IT equipment and machinery and office equipment.
Significant management judgement and estimates
In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise
an extension option, or not to exercise a termination option. Extension options (or periods after termination options) are only
included in the lease term if the lease is reasonably certain to be extended (or not terminated). Otherwise the Group assesses
the historical leases and need for replacement leases when determining lease terms.
The lease term is reassessed if a significant event or significant change in circumstances occurs or the Group becomes obliged
to exercise or not to exercise an option.
18. Investments in shares
Fair values of investments and the fair value hierarchy levels are presented in the table below:
EUR thousand 31 Dec 2025 Fair value Level 31 Dec 2024 Fair value Level Investments in shares, unquoted 240 3 240 3 Total 240 240
The changes in level 3 items are as follows:
Share investments 1 Jan 2024 240 31 Dec 2024 240 31 Dec 2025 240
In addition, the Group has contingent consideration liabilities which were classified as level 3 in the fair value hierarchy. More
information is presented in note 25.
Accounting policy
Share investments are measured at fair value. Eezy’s share investments consist of unlisted shares. The fair value of the
unlisted shares is determined by using valuation models. They are measured at cost when it is determined that the acquisition
cost is a reasonable estimate of fair value.
The financial instruments measured at fair value in the balance sheet are classified based on the following fair value hierarchy
levels:
Level 1: The fair value of publicly traded instruments (like listed shares) is based on the quoted year-end market prices of similar
assets or liabilities in active markets. The bid price is used as the quoted market price.
Level 2: The fair value of financial instruments that are not traded on the active market is determined with a valuation technique.
These techniques maximize the use of observable market data and apply company specific estimates only to a minimal degree.
When all significant inputs needed to determine the fair value of the instrument are observable, the instrument is categorized on
level 2.
Level 3: If one or several significant inputs are not based on observable market data, the instrument is categorized on level 3.
Such instruments include the Company’s investments in unlisted shares.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 94
19. Deferred tax assets and liabilities
Deferred taxes are recognized for all temporary differences. The changes in deferred taxes are as follows:
Recognized in EUR thousand 1 Jan 2025 profit or loss 31 Dec 2025 Deferred tax assets Tax losses carried forward 112 114 226 Tax losses from the period 18 221 239 Credit loss provision 61 38 99 Leases 951 -388 562 Other temporary differences 28 -9 19 Total 1 169 -25 1 144 Deducted from/against deferred tax liabilities -773 297 -476 Total 396 272 668
Recognized in EUR thousand 1 Jan 2024 profit or loss 31 Dec 2024 Deferred tax assets Tax losses carried forward 75 37 112 Tax losses from the period 50 -32 18 Credit loss provision 82 -21 61 Leases 1 485 -535 951 Other temporary differences 37 -9 28 Total 1 729 -560 1 169 Deducted from/against deferred tax liabilities -1 457 684 -773 Total 272 124 396
Recognized in EUR thousand 1 Jan 2025 profit or loss 31 Dec 2025 Deferred tax liabilities Business combinations 3 226 -1 155 2 071 Loans 16 16 32 Leases 1 128 -369 759 Total 4 369 -1 508 2 861 Deducted from/against deferred tax assets -1 128 369 -759 Total 3 241 -1 139 2 103
Recognized in EUR thousand 1 Jan 2024 profit or loss 31 Dec 2024 Deferred tax liabilities Business combinations 3 782 -556 3 226 Loans 20 -4 16 Leases 1 513 -385 1 128 Total 5 315 -945 4 369 Deducted from/against deferred tax assets -1 513 385 -1 128 Total 3 802 -560 3 241
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities
and the deferred taxes related to the income tax of the same taxable entity.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 95
Accounting policy
Deferred taxes are recognized for all temporary differences between the carrying values and the tax bases. The largest
temporary differences arise from the fair value adjustments of assets and liabilities in business combinations and unused tax
losses. Deferred taxes are calculated using the tax rates enacted or substantively enacted at the balance sheet date.
Deferred tax assets are recognized to the extent that it is probable that future taxable income will be generated against which
the deductible temporary difference can be utilized. The recognition criteria of the deferred tax asset is assessed at each
balance sheet date.
However, a deferred tax liability is not recognized in situations where a deferred tax liability arises from the initial recognition of
goodwill when the transaction is other than a business combination and does not affect the accounting nor the taxable profit or
loss at the time of the transaction nor does it create equal taxable or tax-deductible temporary differences.
Deferred tax assets and liabilities are offset when the Group has a legally enforceable right to offset the current tax assets
against current tax liabilities, and when the deferred tax assets and liabilities are related to the income tax levied by the same
taxation authority either from the same taxable entity or different taxable entities when there is an intention to settle the asset
and the liability on a net basis.
Significant management judgement and estimates
Eezy’s management uses judgement when recognizing deferred tax assets and liabilities in the balance sheet. Deferred tax
assets are recognized on the balance sheet only if the utilization of the assets is seen as more probable than not utilizing the
deferred tax assets. Utilization is subject to future generations of taxable income. To assess whether the convincing evidence
threshold per IAS 12 is met, the company has prepared forecasts for future periods that take into consideration the tax
regulations in effect at the time of calculation. Assumptions related to the generation of future taxable profit are based on the
management’s estimates on future cash flows. The Group’s ability to generate taxable income is also subject to the general
economic situation, financing, competitiveness and regulation environment which are not in the Group’s control. These
estimates and assumptions involve risks and uncertainty, and thus it is possible that the changes in circumstances will change
the expectations which may affect the amount of the deferred tax liabilities and assets recognized as well as other unrecognized
tax losses and temporary differences.
20. Trade receivables and other receivables
EUR thousand 31 Dec 2025 31 Dec 2024 Non-current receivables Contract-based receivables 573 1 169 Lease guarantees 100 182 Other receivables 150 109 Total non-current receivables 822 1 460 Current receivables Trade receivables 14 834 18 682 Contract-based receivables 861 799 Other receivables 614 621 Accrued income 1 315 1 958 Total current receivables 17 624 22 060 Total trade receivables and other receivables 18 446 23 520
Accrued income consists of sales accruals, employer insurance and advance payments.
Trade receivables are measured at the transaction price. The carrying value of the trade receivables and other receivables
equals their fair value. Information on the impairment of trade receivables and other receivables and their credit risk is described
in note 26.
21. Cash and cash equivalents
Cash and cash equivalents presented in the balance sheet and cash flow statement comprise cash at bank. Utilized credit limits
are presented as current liabilities. Credit limits are an essential part of liquidity management. Liquidity risk and its management
is described in note 26.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 96
22. Equity
EUR Total thousand, Reserve for attributable to unless invested the owners of Non-otherwise Shares unrestricted Retained the parent controlling specified 1 000 pcs Share capital equity earnings company interests Total equity 31 Dec 2025 25 047 80 107 876 -4 603 103 353 2 777 106 130 31 Dec 2024 25 047 80 107 876 -2 286 105 670 2 968 108 638
Share capital
Eezy Plc has one series of shares and all shares are equally entitled to dividends. One share carries one vote at the general
meeting. Eezy’s shares are listed on the official list of Nasdaq Helsinki.
Pcs 2025 2024 1 Jan 25 046 815 25 046 815 31 Dec 25 046 815 25 046 815
Own shares
The Company does not hold its own shares.
Dividends
The Annual General Meeting (AGM) decided on 8 April 2025 that for year 2024 no dividend is paid.
Board of Directors proposes that no dividend will be distributed for the year 2025 (0.00 euro).
Reserve for invested unrestricted equity
The reserve for invested unrestricted equity includes other investments that by nature are considered as equity and the share
subscription price unless it is explicitly decided to be included in the share capital. The changes in the reserve for invested
unrestricted equity are presented in the statement of changes in equity.
Accounting policy
Share capital includes only ordinary shares. The incremental costs directly attributable to the issue of new shares or other equity
instruments, net of tax, are recognized in equity as a deduction from the proceeds. If the company buys back its own equity
instruments, the consideration paid is deducted from equity. The dividend payable to the Group’s shareholders is recognized in
the financial year during which the general meeting has approved the dividend.
23. Earnings per share
1 Jan – 31 Dec 2025 1 Jan – 31 Dec 2024 Profit for the financial year attributable to the owners of the company -2 321 869 -306 494 Weighted average number of shares, undiluted 25 046 815 25 046 815 Earnings per share, basic (EUR) -0.09 -0.01 Impact of shares related to the share-based payments plan 216 738 178 421 Weighted average number of shares, diluted 25 263 553 25 225 236 Earnings per share, diluted (EUR) -0.09 -0.01
The number of dilutive shares in 2025 was 216 738 (178 421).
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 97
Accounting policy
The basic earnings per share is calculated by dividing the profit (loss) attributable to the owners of the parent company by the
weighted average number of shares.
In calculating the diluted earnings per share, the dilution impact of the options and shares granted to employees is taken into
consideration. More information on the share-based payments is in note 7.
24. Borrowings
Changes in borrowings divided to changes from financing cash flows and other changes are presented in the table below:
Loans from financial EUR thousand institutions Lease liabilities Total 1 Jan 2024 50 675 7 618 58 293 Repayments of borrowings -2 106 -2 483 -4 590 New leases - 548 548 Revaluations - 20 20 Other changes 20 -30 -10 31 Dec 2024 48 588 5 673 54 261 Repayments of borrowings -2 600 -2 304 -4 904 New leases - 900 900 Revaluations - -296 -296 Other changes 390 -167 223 31 Dec 2025 46 378 3 806 50 184
Eezy renewed the financing arrangement on 30 April 2025, and also agreed on new covenant levels applicable to the loans.
The maturities of Eezy’s financing arrangements range from 1 to 5 years, most of the loans are due in 2028. As part of the
renewed arrangement, EUR 10 million of the senior loans converted into a convertible loan. The convertible loan has a maturity
of five years, during which Varma has the right to convert up to EUR 3 million of the from time-to-time outstanding principal
amount of the convertible loan to new shares in accordance with the terms of the special rights attached to the loan. Varma’s
conversion right will commence 30 April 2028 and will continue until the maturity date 30 April 2030.
The Group’s loans are subject to covenants defined in the renewed financing agreement. The covenants are quarterly the ratio
of interest-bearing net debt to adjusted EBITDA and monthly the minimum cash balance. If the Group does not meet the
covenants, the creditor may require accelerated loan prepayment. The minimum cash balance was 14.1 (11.6) million euros as
of 31 December 2025 and the covenant limit was 10.0 (5.0). The company met the minimum cash balance covenant condition
during the review period and estimates that it will meet the condition during next 12 months. The ratio of interest-bearing net
debt to adjusted EBITDA was 3.9 (4.2) on 31 December 2025 and the covenant limit was 4.0 (4.0). The company met the ratio
of interest-bearing net debt to adjusted EBITDA -covenant condition during the review period and estimates that it will meet the
condition during next 12 months.
The Group’s loans are denominated in euros, have floating interest rates and are linked to the Euribor. The repricing of the
loans occurs every 3-12 months. The loan margins vary between 2.45% and 3.30%. The covenants also include terms related
to interest rate levels. The margin can vary between 1.70 % and 3.45% depending on the level of the covenant related to net
debt and EBITDA.
The carrying value of the borrowings equals their fair value in the periods presented, as the coupon rates have been on the
same level with market rates, and the impact of discounting the future cash flows using the market interest rate at the valuation
date is not significant.
The maturities of the borrowings and more information on the interest rate risk and liquidity risk management is presented in
note 26.
Accounting policy
Borrowings are initially recognized at fair value, net of transaction costs incurred. After the initial recognition borrowings are
measured at amortized cost using the effective interest method. Borrowings are classified as current liabilities if the Group
intends to settle the borrowings during the next 12 months after the reporting date or if the Group does not have an
unconditional right to defer the settlement for at least 12 months after the reporting date.
The transaction costs incurred in connection with the borrowings are recognized as interest expenses using the effective
interest method.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 98
25. Trade payables and other liabilities
EUR thousand 31 Dec 2025 31 Dec 2024 Non-current liabilities Contingent considerations - 78 Share-based payments 5 - Other liabilities 19 - Total non-current liabilities 24 78 Current liabilities Trade payables 5 577 7 130 Contingent considerations 101 28 VAT liability 11 963 6 231 Personnel related liabilities 2 384 2 789 Other liabilities 115 208 Personnel related accrued expenses 9 252 10 772 Other accrued expense 510 1 125 Total current liabilities 29 901 28 284 Total trade payables and other liabilities 29 925 28 362
Accounting policy
Fair values of trade payables and other liabilities equal their carrying values. They are measured at cost or amortized cost apart
from contingent considerations which are measured at fair value and recognized in the result for the period as financial income
or expense. Fair value is based on management’s estimate and it is classified as level 3 in the fair value hierarchy.
26. Financial risk management
The Group’s principles of financial risk management have not significantly changed during reporting period. Eezy and its
operating activities are exposed to certain financial risks. Financial risk management is a part of the Group’s risk management
processes and an integral part of Eezy’s strategy process, planning process and day-to-day management. Eezy’s CEO is
responsible for drafting the principles of risk management and for ensuring that the principles are implemented systematically
and appropriately. Eezy’s Group Management Team is responsible for identifying group level risks. Risk management is
reported to Eezy’s Board of Directors and the Board confirms the company’s principles of risk management.
The most significant financial risks for Eezy are credit risk and liquidity risk. Group treasury monitors the day-to-day liquidity and
the management is responsible for the long-term liquidity and for monitoring the covenants.
Liquidity risk
Liquidity risk relates to ensuring and maintaining sufficient financing for Eezy. Eezy strives to continuously assess and monitor
the amount of financing needed for the business operations, by, among others, performing a monthly analysis on the sales
development and investment needs in order to ensure the Group has sufficient liquid assets to finance the operations and to
repay the borrowings when they fall due. Short-term liquidity risk is also managed through possible payment arrangements and
the use of credit limits. The management analyses the possible need for additional financing.
The Group aims to ensure the availability and flexibility of the Group’s financing with sufficient available credit facilities, a
balanced debt maturity profile and sufficiently long loan periods as well as by using several financial institutions as
counterparties and different forms of financing, when necessary. The Group’s financing activities determine the optimal level of
cash.
Cash and cash equivalents amounted to EUR 4 102 (1 619) thousand at the end of the financial year, in addition to which the
Group had undrawn committed credit limits available totaling to EUR 10 000 (10 000) thousand.
The Group has a long-term senior loan from financial institutions and the financial agreements include the terms of covenants.
The breach of covenants may lead to the situation where the creditor may require an accelerated loan prepayment or immediate
prepayment. As of 31 December 2025, the Group has non-current loans from financial institutions EUR 43 893 (44 988)
thousand and current loans from financial institutions EUR 2 485 (3 600) thousand. The terms and conditions of the loans and
related covenants are described in note 24.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 99
The following tables present the contractual maturity analysis of the Group’s financial liabilities. The figures are undiscounted
and include interest payments and repayments.
Total contractual EUR thousand 0-6 months 7-12 months 2-3 years 4-5 years cash flows Carrying value 31 Dec 2025 Loans from financial institutions 2 403 2 435 38 000 14 093 56 930 46 378 Lease liabilities 1 046 842 2 144 - 4 032 3 806 Trade payables 5 577 - - - 5 577 5 577 Contingent considerations 101 - - - 101 101 Total 9 126 3 277 40 144 14 093 66 640 55 861
Total contractual EUR thousand 0-6 months 7-12 months 2-3 years 4-5 years cash flows Carrying value 31 Dec 2024 Loans from financial institutions 3 195 3 127 11 903 40 197 58 423 48 588 Lease liabilities 1 301 1 183 2 955 299 5 737 5 673 Trade payables 7 130 - - - 7 130 7 130 Contingent considerations 28 - 78 - 106 106 Total 11 654 4 310 14 936 40 496 71 396 61 497
Credit risk
Credit risk arises from trade receivables and other receivables. Credit risk also arises from loan receivables and cash and cash
equivalents but based on Group’s analysis their credit risk is considered immaterial.
The Group’s policy defines the creditworthiness requirements for the counterparties. Credit risk management and credit control
are centralized in the Group’s financial management.
The receivables of certain big customers form credit risk concentrations for the Group. The Group aims to minimize the risks
related to the receivables through the terms of payment of the receivables, customer-specific monitoring of trade receivables,
effective collection, and checking of the customers’ creditworthiness, as well as partly through various factoring- and collateral
arrangements.
During the financial year, the Group recognized EUR 413 (156) thousand on receivables as credit losses and EUR 328 (203)
thousand as reversal of unused amount in profit or loss.
Trade receivables
The staffing service business is based on sales invoiced. It involves a risk of credit losses typical for the nature of the business
and the industry. Historically, the level of incurred credit losses on trade receivables has typically been low.
The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance
for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit
risk characteristics and the days past due. The Group monitors continuously the level of write downs on receivables and
changes the models by taking into account existing conditions and forward-looking information.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 100
The table below presents the changes in the credit loss allowance for the periods presented, the age analysis of trade
receivables, and for each age analysis group the recognized impairments and the percentages used:
Due Due Due Due Due over 180 EUR thousand Not due 1-30 days 31-60 days 61-90 days 91-180 days days Total 31 Dec 2025 Expected credit loss rate, % 0.2% 0.8% 1.5% 2.0% 10.0% 26.0% Carrying value of trade receivables 13 593 843 205 27 55 209 14 931 Credit loss provision 27 7 3 1 5 54 97
Due Due Due Due Due over 180 EUR thousand Not due 1-30 days 31-60 days 61-90 days 91-180 days days Total 31 Dec 2024 Expected credit loss rate, % 0.2 % 0.8 % 1.5 % 2.0 % 10.0 % 26.0 % Carrying value of trade receivables 15 865 2 125 138 42 144 586 18 900 Credit loss provision 32 17 2 1 14 152 218
EUR thousand 2025 2024 1 Jan 218 297 Change in provision -36 -125 Recognized as credit losses -413 -156 Unused amount reversed 328 203 31 Dec 97 218
Trade receivables are written off when there is not a reasonable expectation of recovery. Indicators that there is not a
reasonable expectation of recovery include, amongst others, the failure of a debtor to engage in a repayment plan with the
Group and a failure to make contractual payments for a period of greater than 360 days past due.
Impairment losses on trade receivables are presented as net impairment losses within operating profit. Subsequent recoveries
of amounts previously written off are credited against the same line item.
Capital management
As a part of their capital management, Eezy’s management monitors the borrowings and equity as presented in the
consolidated balance sheet. The aim of the Group’s capital management (equity vs. debt) is, with the optimal capital structure,
to support the business operations by ensuring normal operational prerequisites, and to increase the shareholder value in the
long term. Capital management is also driven by the owners’ aim to maintain a simple financial structure. Capital needs are
primarily fulfilled with long-term debt financing.
The capital structure is adjusted mainly by dividend distributions and share issues. The Group can also decide to sell assets in
order to reduce debt. The development of the Group’s capital structure is monitored with comparing net debt to adjusted
EBITDA, which is reported to the Group management regularly. Net debt is calculated by deducting cash and cash equivalents
from non-current and current loans from financial institutions, non-current other liabilities, lease liabilities, current contingent
consideration liabilities and current financial liabilities. Adjusted EBITDA is calculated by adding to operating profit the following:
depreciation, amortization and impairment losses, and items affecting comparability, such as items relating to acquisitions,
closing of business operations, structural reorganization and significant redundancy costs.
Interest rate risk
Interest rate risk means the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. The Group’s loans have floating interest rates and are linked to the Euribor. The Group’s floating
interest rates loans expose the company to the cash flow interest rate risk. The interest rates of borrowings are described in
note 24.
The sensitivity analysis of interest rate risk
At the balance sheet date of 31 December 2025, the effect of variable rate borrowings on the pre-tax profit would have been
EUR -/+479 (340) thousand, if the interest rate level had risen or fallen by 1 percentage point.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 101
27. Group structure
Subsidiaries belonging to the Group as at 31 December 2025 are presented in the table below:
Subsidiary Domicile Group ownership portion, % Eezy VMP Oy Helsinki 100% Eezy Bework Oy Helsinki 100% Castanea Oy Helsinki 100% Eezy Conrator Oy Helsinki 100% Eezy Sonire Oy Helsinki 100% Workcontrol Oy Helsinki 100% Eezy Kevytyrittäjät Oy Helsinki 100% Eezy Personnel Oy Tampere 100% Eezy Palvelut Etelä Oy Helsinki 100% Eezy Palvelut Itä Oy Helsinki 100% Eezy Palvelut Länsi Oy Helsinki 100% Eezy Kauppa Etelä-Suomi Oy Helsinki 100% Eezy Kauppa Helsinki Oy Helsinki 100% Eezy Kauppa Suomi Oy Helsinki 100% Eezy Kauppa Pirkanmaa Oy Helsinki 100% Eezy Kauppa Uusimaa Oy Helsinki 100% Eezy Kauppa Länsi Oy Helsinki 100% Eezy Flow Oy Helsinki 73.06% Eezy Siqni Oy Helsinki 100% Eezy Leidenschaft Oy Helsinki 100% Eezy Henkilöstöpalvelut Oy Tampere 100% Doctors by Eezy Oy Tampere 100% Eezy Office Oy Tampere 100% Eezy Industries Pirkanmaa Oy Tampere 100% Eezy Etelä-Pohjanmaa Oy Seinäjoki 100% Eezy Palvelut Uusimaa Oy Tampere 100% Eezy Palvelut Pirkanmaa Oy Tampere 100% Eezy Jobs Etelä Oy Tampere 100% Eezy Industries Etelä Oy Espoo 100% Eezy Industries Itä Oy Jyväskylä 100% Eezy Services Pohjanmaa Oy Tampere 100% Eezy Jobs Pirkanmaa Oy Tampere 100% Eezy Jobs Länsi Oy Tampere 100% Eezy Import Oy Tampere 85.00% Eezy Staffing Oy Tampere 100% Eezy Industries Länsi Oy Tampere 100% Eezy United Oy Helsinki 100% Eezy Valmennuskeskus Oy Helsinki 100% Eezy Farenta Oy Helsinki 100%
These consolidated financial statements consist of Eezy Plc, the parent company of the Group, and all subsidiaries over which
the parent company has control. Acquisitions that have impacted on the Group structure are presented in note 14.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 102
Accounting policy
Subsidiaries are entities over which the Group has control. The group controls an entity where the Group is exposed to, or has
rights to, variable returns from its involvement with the entity and can affect those returns through its power to direct the
activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are
deconsolidated from the date that control ceases.
The acquisition method of accounting is used to eliminate share ownership between the Group companies. The acquisition cost
exceeding the fair value of the net identifiable assets acquired is recorded as goodwill. If the acquisition cost is less than the fair
value of the net identifiable assets of the business acquired, the difference is recognized directly as income in the result of the
period.
The acquisition-related costs, other than those associated with the issue of debt or equity securities, are expensed as incurred.
Any contingent consideration payable is recognized at fair value at the acquisition date and classified as a financial liability or
equity. The contingent consideration classified as a financial liability is remeasured to fair value at each balance sheet date and
changes in fair value are recognized in the result for the period. The contingent consideration classified as equity is not
remeasured. Any non-controlling interest in the acquired entity is measured at fair value or at the non-controlling interest’s
proportionate share of the acquired entity’s net identifiable assets. The valuation policy is determined on an acquisition-by-
acquisition basis.
Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated.
Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies applied by the
Group.
The profit (loss) for the period and total comprehensive income for the period attributable to the owners of the parent company
and non-controlling interests are presented in the consolidated statement of comprehensive income. Total comprehensive
income for the period is allocated to non-controlling interests although this would result in a negative non-controlling interest.
Non-controlling interests in the equity is presented as a separate line item in the balance sheet as part of equity. Changes in the
ownership of the subsidiaries that do not result in a loss of control are treated as transactions with equity owners of the Group.
In a business combination achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest
in the acquiree is remeasured to fair value at the acquisition date and any gains or losses arising is recognized in the result for
the period. When the Group loses the control in a subsidiary, any retained interest in the entity is remeasured to its fair value at
the date when the control ceases and the difference arising from the measurement is recognized in profit or loss.
28. Changes in the non-controlling interests
Change in non-Change in New Purchase controlling retained Company in which interests Acquisition Acquired ownership consideration interests earnings are acquired date share interest (EUR thousand) (EUR thousand) (EUR thousand) 2025 No companies with non-controlling interests have been acquired in 2025. 2024 Eezy Henkilöstöpalvelut Oy Doctors by Eezy Oy 10.5.2024 5 % 85.75 % 102 -40 -62 Doctors by Eezy Oy 13.6.2024 14.25 % 100 % 291 -113 -177 Eezy Import Oy 5.7.2024 5 % 85.00 % 140 -165 24 Eezy VMP Oy Eezy Flow Oy 6.9.2024 2.96 % 73.06 % 102 -149 47
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 103
29. Commitments and contingencies
Eezy has a group cash pooling arrangement managed by Eezy Plc and the arrangement includes all subsidiaries. All current
and future cash pool receivables are a used as a comprehensive guarantee for liabilities on the bank accounts included in the
cash pool agreement.
EUR thousand 31 Dec 2025 31 Dec 2024 Liabilities in balance sheet for which collaterals given Loans from financial institutions, non-current 43 893 44 988 Loans from financial institutions, current 2 485 3 600 Total 46 378 48 588
EUR thousand 31 Dec 2025 31 Dec 2024 Mortgages on own behalf Company mortgages 100 000 100 000 Total 100 000 100 000
The shares of Eezy VMP Oy, Eezy Henkilöstöpalvelut Oy, Eezy Valmennuskeskus Oy and Eezy Farenta Oy are pledged to
existing financial institution loans on the balance sheet dates.
More information on business combinations is presented in note 14.
Accounting policy
A contingent liability is a possible obligation that has arisen from past events and whose existence is confirmed only by the
occurrence of uncertain future events not wholly in the control of the Group. A contingent liability is also a present obligation
whose settlement probably does not require an outflow of resources, and the amount cannot be measured reliably. A contingent
liability is presented in the notes of the consolidated financial statements.
30. New standards
New and amended standards and accounting policies applied in the financial year ended 31 December 2025
Group has applied new and amended standards and accounting policies from 1 January 2025 onwards. These have not had an
impact on consolidated financial statements 2025.
Adoption of new and amended standards in future financial years
Group estimates that adoption of published new and amended standards listed below in future financial years will not have a
significant impact on consolidated financial statements.
IFRS 18 Presentation and Disclosure in Financial Statements*(effective for financial years beginning on or after 1 January 2027,
early application is permitted)
IFRS 18 will replace IAS 1 Presentation of Financial Statements. The key new requirements are as follows:
• Income and expenses in the income statement to be classified into three new defined categories—operating, investing and
financing—and two new subtotals—“Operating profit or loss” and “Profit or loss before financing and income tax”.
• Disclosures about management-defined performance measures (MPMs) in the financial statements. MPMs are subtotals of
income and expenses used in public communications to communicate management’s view of the company’s financial
performance.
• Disclosure of information based on enhanced general requirements on aggregation and disaggregation. In addition, specific
requirements to disaggregate certain expenses, in the notes, will be required for companies that present operating expenses by
function in the income statement.
* = not yet endorsed for use by the European Union as of 31 December 2025.
31. Events after the balance sheet date
On 7 January 2026 Director, Business Solutions Päivi Salo has resigned. Salo will step down from the management team on
28
th
 February 2026, and her responsibilities have been divided within the group.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 104
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 105
Parent company income statement (FAS)
EUR
1 Jan – 31 Dec 2025
1 Jan – 31 Dec 2024
Revenue
8 183 280.44
8 921 022.03
Other operating income
334 413.91
316 803.67
Materials and services
0.00
-292.85
Personnel expenses
Wages and salaries
-3 747 151.54
-3 339 032.84
Social security expenses
Pension expenses
-539 715.23
-543 005.77
Other social security expenses
-84 309.91
-100 510.53
Social security expenses
-624 025.14
-643 516.30
Personnel expenses
-4 371 176.68
-3 982 549.14
Depreciation. amortization and impairment losses
Depreciation and amortization according to plan
-167 301.95
-88 120.10
Impairment on non-current assets
-3 430.61
-48 684.40
Depreciation. amortization and impairment losses
-170 732.56
-136 804.50
Other operating expenses
-6 408 539.83
-7 014 821.08
Operating profit (loss)
-2 432 754.72
-1 896 641.87
Financial income and expenses
Other interest income and other financial income
From other companies
1 152.01
413.61
From group companies
1 125 237.37
1 231 365.52
Interest expenses and other financial expenses
To other companies
-3 456 268.53
-3 010 896.11
To group companies
0.00
0.00
Financial income and expenses
-2 329 879.15
-1 779 116.98
Profit (loss) before appropriations and taxes
-4 762 633.87
-3 675 758.85
Appropriations
Group contribution
3 728 000.00
3 970 000.00
Appropriations
3 728 000.00
3 970 000.00
Income taxes
Taxes for the financial year and previous financial years
0.00
-61 973.45
Income taxes
0.00
-61 973.45
Profit (loss) for the financial year
-1 034 633.87
232 267.70
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 106
Parent company balance sheet (FAS)
EUR
31 Dec 2025
31 Dec 2024
ASSETS
Non-current assets
Intangible assets
Intangible rights
29 618.27
39 545.75
Other non-current expenditures
445 830.78
299 021.30
Total intangible assets
475 449.05
338 567.05
Tangible assets
Machinery and equipment
5 093.91
7 031.82
Total tangible assets
5 093.91
7 031.82
Investments
Holdings in group companies
165 889 427.31
165 889 427.31
Total investments
165 889 427.31
165 889 427.31
Total non-current assets
166 369 970.27
166 235 026.18
Current assets
Non-current receivables
Receivables from group companies
4 950 000.00
5 150 000.00
Other non-current receivables
19 171.64
19 171.64
Total non-current receivables
4 969 171.64
5 169 171.64
Current receivables
Receivables from group companies
29 781 894.35
20 874 881.34
Other receivables
98 255.79
225.55
Prepayments and accrued income
296 983.69
366 910.35
Total current receivables
30 177 133.83
21 242 017.24
Cash at bank and in hand
3 976 577.14
1 490 588.69
Total current assets
39 122 882.61
27 901 777.57
TOTAL ASSETS
205 492 852.88
194 136 803.75
EQUITY AND LIABILITIES
Equity
Share capital
80 000.00
80 000.00
Reserve for invested unrestricted equity
110 507 409.02
110 507 409.02
Retained earnings
12 853 071.09
12 620 803.39
Profit (loss) for the financial year
-1 034 633.87
232 267.70
Total equity
122 405 846.24
123 440 480.11
Liabilities
Non-current liabilities
Liabilities to credit institutions
44 052 115.99
45 051 998.00
Other liabilities
18 950.00
0.00
Total non-current liabilities
44 071 065.99
45 051 998.00
Current liabilities
Liabilities to credit institutions
2 470 666.00
3 400 666.00
Trade payables
516 050.06
643 081.38
Liabilities to group companies
33 385 718.85
20 359 748.15
Other liabilities
1 762 757.82
143 659.35
Accruals and deferred income
880 747.92
1 097 170.76
Total current liabilities
39 015 940.65
25 644 325.64
Total liabilities
83 087 006.64
70 696 323.64
TOTAL EQUITY AND LIABILITIES
205 492 852.88
194 136 803.75
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 107
Parent company cash flow statement
(FAS)
EUR
1 Jan – 31 Dec 2025
1 Jan – 31 Dec 2024
Cash flow from operating activities
Cash receipts from customers
893 496.25
9 262 002.01
Cash paid to suppliers and employees
-9 322 478.56
-11 040 310.02
Cash flow from operating activities
before financial items and taxes
-8 428 982.31
-1 778 302.01
Interest and expenses paid from other operating financial expenses
-2 861 085.81
-2 870 194.77
Interest received from operating activities
1 126 389.38
1 231 779.13
Other financial expenses paid
-172 904.54
-12 603.19
Direct taxes paid
-58 973.45
126 570.72
Net cash from operating activities
-10 395 336.38
-3 302 750.12
Cash flow from investing activities
Investments in tangible and intangible assets
-305 916.65
-192 556.31
Proceeds from sale of tangible assets
240.00
85 180.00
Investments in subsidiaries
0.00
-483 053.73
Net cash from investing activities
-305 676.65
-590 430.04
Cash flow from financing activities
Repayment of current loans and borrowings
-2 400 666.00
-1 880 664.00
Group cash pool
11 417 887.83
1 524 621.80
Group contribution received and paid
3 970 000.00
4 600 000.00
Proceeds from repayment of loans
200 000.00
0.00
Net cash from financing activities
13 187 221.83
4 243 957.80
Net increase/decrease in cash and cash equivalents
2 485 988.45
350 777.64
Cash and cash equivalents at beginning of financial year
1 490 588.69
1 139 811.05
Cash and cash equivalents at end of financial year
3 976 577.14
1 490 588.69
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 108
Notes to the Parent Company Financial
Statements
Notes to accounting principles for financial statements
Accounting principles for financial statements
The financial statements are prepared in accordance with The Accounting Act on the information presented in the financial
statements.
Valuation and recognition principles and methods
Intangible assets held under non-current assets are carried at cost consisting of related expenditures less amortization
according to plan. Tangible assets are carried at cost consisting of related variable expenditures less depreciation according to
plan. Investments in fixed assets are valued at acquisition cost or likely revenue generated in the future, whichever is lower. The
values of shares in subsidiaries on 31 December 2025 are based on long-term forecasts prepared at the group level.
Trade. loan and other receivables held under current assets are carried at the lower of nominal value and probable value.
Recognition principles and methods
Cost of intangible and tangible assets held under non-current assets is amortized/depreciated in accordance with a pre-
determined plan by applying the maximum amortization/depreciation allowed under the Finnish Business Tax Act (BTA). The
cost of an asset. less its residual value. is depreciated/amortized over its estimated useful life.
Asset
Estimated useful life. years
Depreciation/amortization:
percentage and method
Other non-current expenditures
5-10
10% or 20% straight line method
Machinery and equipment
approx. 8
maximum depreciation allowed
under BTA
IT software
5
20% straight line method
Foreign currency transactions
The receivables in foreign currencies are translated into Finnish currency using the exchange rate quoted on the balance sheet
date.
Notes to parent company
Eezy Plc. domicile Helsinki. is the parent company of the Eezy group.
A copy of the consolidated financial statements of the Eezy group is available from the Finnish patent and registration office.
Notes to the personnel and management
Average number of personnel during the financial year:
2025
2024
Salaried employees
33
36
Total
33
36
Auditor’s fees
KPMG Oy Ab
EUR
2025
2024
Statutory audit
216 169.53
224 657.81
Other advisory services
23 414.63
2 513.30
Tax advisory services
13 685.64
15 122.18
Other services
0.00
3 027.38
Total
253 269.85
245 320.67
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 109
Notes to assets
Intangible assets
EUR
Intangible rights
Other
non-current
expenditures
Other
intangible assets
Total
Cost at 1 Jan 2025
65 230.66
338 713.05
155 661.41
559 605.12
Additions
0.00
164 558.90
141 357.75
305 916.65
Disposals
0.00
0.00
-18 951.05
-18 951.05
Cost at 31 Dec 2025
65 230.66
503 271.95
278 068.11
846 570.72
Accumulated amortization and impairment
losses at 1 Jan 2025
-25 684.91
-110 592.90
-84 760.26
-221 038.07
Accumulated amortization on disposals
and reclassifications
0.00
0.00
18 951.05
18 951.05
Amortization
-9 927.48
-101 776.03
-53 900.33
-165 603.84
Impairment
0.00
0.00
-3 430.61
-3 430.61
Accumulated amortization and
impairment losses at 31 Dec 2025
-35 612.39
-212 368.93
-123 140.15
-371 121.47
Book value 1 Jan 2025
39 545.75
228 120.15
70 901.15
338 567.05
Book value at 31 Dec 2025
29 618.27
290 903.62
154 927.96
475 449.25
EUR
Intangible rights
Other
non-current
expenditures
Other
intangible assets
Total
Cost at 1 Jan 2024
65 230.66
199 527.29
130 526.61
395 284.56
Additions
0.00
157 865.76
25 134.80
183 000.56
Disposals
0.00
-18 680.00
0.00
-18 680.00
Cost at 31 Dec 2024
65 230.66
338 713.05
155 661.41
559 605.12
Accumulated amortization and impairment
losses at 1 Jan 2024
-15 757.43
-82 248.59
-7 251.48
-105 257.50
Accumulated amortization on disposals
and reclassifications
0.00
18 680.00
0.00
18 680.00
Amortization
-9 927.48
-47 024.31
-28 824.38
-85 776.17
Impairment
0.00
0.00
-48 684.40
-48 684.40
Accumulated amortization and
impairment losses at 31 Dec 2024
-25 684.91
-110 592.90
-84 760.26
-221 038.07
Book value 1 Jan 2024
49 473.23
117 278.70
123 275.13
290 027.06
Book value at 31 Dec 2024
39 545.75
228 120.15
70 901.15
338 567.05
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 110
Tangible assets
EUR
Machinery and equipment
Total
Cost at 1 Jan 2025
109 530.82
109 530.82
Additions
0.00
0.00
Disposals
-100 395.07
-100 395.07
Cost at 31 Dec 2025
9 135.75
9 135.75
Accumulated depreciation and impairment losses at 1 Jan 2025
-102 499.00
-102 499.00
Accumulated amortization on disposals and reclassifications
100 155.07
100 155.07
Depreciation
-1 697.91
-1 697.91
Accumulated depreciation and impairment losses
at 31 Dec 2025
4 041.84
4 041.84
Book value at 1 Jan 2025
7 031.82
7 031.82
Book value at 31 Dec 2025
5 093.91
5 093.91
EUR
Machinery and equipment
Total
Cost at 1 Jan 2024
148 994.43
148 994.43
Additions
9 555.75
9 555.75
Disposals
-49 019.36
-49 019.36
Cost at 31 Dec 2024
109 530.82
109 530.82
Accumulated depreciation and impairment losses at 1 Jan 2024
-100 155.07
-100 155.07
Depreciation
-2 343.93
-2 343.93
Accumulated depreciation and impairment losses
at 31 Dec 2024
-102 499.00
-102 499.00
Book value at 1 Jan 2024
48 839.36
48 839.36
Book value at 31 Dec 2024
7 031.82
7 031.82
Investments
EUR
Investments in
Group companies
Total
Cost at 1 Jan 2025
165 889 427.31
165 889 427.31
Cost at 31 Dec 2025
165 889 427.31
165 889 427.31
Book value at 1 Jan 2025
165 889 427.31
165 889 427.31
Book value at 31 Dec 2025
165 889 427.31
165 889 427.31
EUR
Investments in
Group companies
Total
Cost at 1 Jan 2024
165 406 373.58
165 406 373.58
Additions
483 053.73
483 053.73
Cost at 31 Dec 2024
165 889 427.31
165 889 427.31
Book value at 1 Jan 2024
165 406 373.58
165 406 373.58
Book value at 31 Dec 2024
165 889 427.31
165 889 427.31
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 111
Prepayments and accrued income
EUR
31 Dec 2025
31 Dec 2024
Personnel related accrued expenses
2 919.42
0.00
Other accrued income
294 064.27
366 910.35
Prepayments and accrued income
296 983.69
366 910.35
Notes to equity and liabilities
Changes in equity
EUR
2025
2024
RESTRICTED EQUITY
Share capital at 1 Jan
80 000.00
80 000.00
Share capital at 31 Dec
80 000.00
80 000.00
TOTAL RESTRICTED EQUITY
80 000.00
80 000.00
UNRESTRICTED EQUITY
Reserve for invested unrestricted equity at 1 Jan
110 507 409.02
110 507 409.02
Reserve for invested unrestricted equity at 31 Dec
110 507 409.02
110 507 409.02
Retained earnings at 1 Jan
12 853 071.09
12 620 803.39
Dividend distribution
-
-
Retained earnings at 31 Dec
12 853 071.09
12 620 803.39
Profit (loss) for the financial year
-1 034 633.87
232 267.70
TOTAL UNRESTRICTED EQUITY
122 325 846.24
123 360 480.11
TOTAL EQUITY
122 405 846.24
123 440 480.11
Specification of distributable funds
EUR
31 Dec 2025
Retained earnings
12 853 071.09
Profit (loss) for the financial year
-1 034 633.87
Reserve for invested unrestricted equity
110 507 409.02
Total unrestricted equity
122 325 846.24
TOTAL DITRIBUTABLE FUNDS
122 325 846.24
Notes to Report of the Board of Directors according to Limited Liability Companies Act
Share capital of the company:
Share capital
2025
2024
Number of shares
25 046 815
25 046 815
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 112
The company has one share class. and each share entitles to one vote in the General Meetings. The shares carry no limitations
on voting. The shares in the company do not have a nominal value. All Eezy's shares carry equal rights to dividends and other
distributions of funds by the company (including distributions of assets in the event of the liquidation of the company).
Dividend proposal
Board of Directors proposes that no dividend will be distributed for year 2025.
Accruals and deferred income
EUR
31 Dec 2025
31 Dec 2024
Accrued interests of the loans from financial institutions
325 011.67
373 737.83
Accrued income taxes
0.00
58 973.45
Personnel related accrued expenses
536 296.05
583 185.60
Other accrued expenses
19 440.20
81 273.58
Accruals and deferred income
880 747.92
1 097 170.76
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 113
Collaterals and commitments
EUR
31 Dec 2025
31 Dec 2024
LIABILITIES. MORTGAGES AND SHARES AS
COLLATERALS
Liabilities to credit institutions. other mortgage as collateral
46 522 781.99
48 452 664.00
Liabilities to credit institutions
46 522 781.99
48 452 664.00
LIABILITIES. MORTGAGES AND SHARES AS
COLLATERALS
46 522 781.99
48 452 664.00
MORTGAGE AND SHARES. COLLATERAL FOR
LIABILITIES TO CREDIT INSTITUTIONS
Company mortgage given to collateral for liabilities to credit
institutions
100 000 000.00
100 000 000.00
Other mortgage. collateral for liabilities to credit
institutions
100 000 000.00
100 000 000.00
Book value of pledged shares. collateral for liabilities to credit
institutions
165 889 427.31
165 889 427.31
Pledged shares
165 889 427.31
165 889 427.31
MORTGAGE AND SHARES. COLLATERAL FOR
LIABILITIES TO CREDIT INSTITUTIONS
265 889 427.31
265 889 427.31
COLLATERALS GIVEN ON OWN BEHALF
Guarantees
411 287.33
468 329.82
Collaterals given
411 287.33
468 329.82
COLLATERALS GIVEN ON OWN BEHALF
411 287.33
468 329.82
COLLATERALS GIVEN ON BEHALF OF
GROUP COMPANIES
Guarantees
15 253 209.60
15 371 951.20
Collaterals given
15 253 209.60
15 371 951.20
COLLATERALS GIVEN ON BEHALF OF
GROUP COMPANIES
15 253 209.60
15 371 951.20
COLLATERALS
281 553 924.24
281 729 708.33
COMMITMENTS AND OTHER OBLIGATIONS
Rental liabilities. payable in less than one year
1 337 588.98
1 642 424.96
Rental liabilities. payble in more than one year
1 808 338.87
2 895 776.46
Rental liabilities
3 145 957.85
4 538 201.42
Lease obligations. payable in less than one year
196 535.88
214 141.69
Lease obligations. payble in more than one year
137 090.59
259 245.84
Lease obligations
333 626.47
473 387.53
COMMITMENTS
3 479 554.32
5 011 588.95
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 114
Signatures to the Financial Statements and
Report of the Board of Directors
Confirmation of the Board of Directors and the CEO
We confirm that
• the consolidated financial statements prepared in accordance with the International Financial Reporting Standards
(IFRS) as adopted by the European Union and the financial statements of the parent company prepared in accordance
with the laws and regulations governing the preparation of financial statements in Finland give a true and fair view of
the assets. liabilities. financial position and profit or loss of the company and the undertakings included in the
consolidation taken as a whole;
• the management report includes a fair review of the development and performance of the business and the position of
the company and the undertakings included in the consolidation taken as a whole. together with a description of the
principal risks and uncertainties that they face and
• that the sustainability report within management report is prepared in accordance with sustainability reporting
standards referred to in Chapter 7 of the Accounting Act and with the Article 8 of Taxonomy Regulation
Helsinki. 10 February 2026
_________________________________________________
Tapio Pajuharju
Chair of the Board of Directors
_________________________________________________
Tomi Laaksola
Member of the Board of Directors
_________________________________________________
Paul-Petteri Savolainen
Member of the Board of Directors
_________________________________________________
Mikko Wirén
Member of the Board of Directors
_________________________________________________
Kati Hagros
Member of the Board of Directors
_________________________________________________
Maria Pajamo
Member of the Board of Directors
_________________________________________________
Mika Uotila
Member of the Board of Directors
_________________________________________________
Johan Westermarck
CEO
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 115
Auditor’s note
An auditor’s statement has been issued today on the complete audit.
Helsinki. 10 February 2026
KPMG Oy Ab
_________________________________________________
Niklas Oikia
Authorized Public Accountant
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 116
Auditor’s Report
This document is an English translation of the Finnish auditor’s report. Only the Finnish version of the report is legally binding.
To the Annual General Meeting of Eezy Plc
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of Eezy Plc (business identity code 2854570-7) for the year end-ed 31 December,
2025. The financial statements comprise the consolidated balance sheet, statement of comprehensive income, statement of
changes in equity, statement of cash flows and notes, including mate-rial accounting policy information, as well as the parent
company’s balance sheet, income statement, statement of cash flows and notes.
In our opinion
• the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and
cash flows in accordance with IFRS Accounting Standards as adopted by the EU
• the financial statements give a true and fair view of the parent company’s financial performance and financial position in
accordance with the laws and regulations governing the preparation of financial statements in Finland and comply with
statutory requirements.
Our opinion is consistent with the additional report submitted to the Audit Committee.
Basis for Opinion
We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practice
are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.
We are independent of the parent company and of the group companies in accordance with the ethical requirements that are
applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with
these requirements.
In our best knowledge and understanding, the non-audit services that we have provided to the parent company and group
companies are in compliance with laws and regulations applicable in Finland regarding these services, and we have not
provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we
have provided have been disclosed in note 9 to the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Materiality
The scope of our audit was influenced by our application of materiality. The materiality is determined based on our professional
judgement and is used to determine the nature, timing and extent of our audit procedures and to evaluate the effect of identified
misstatements on the financial statements as a whole. The level of materiality we set is based on our assessment of the
magnitude of misstatements that, individually or in aggregate, could reasonably be expected to have influence on the economic
decisions of the users of the financial statements. We have also taken into account misstatements and/or possible
misstatements that in our opinion are material for qualitative reasons for the users of the financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial
statements of the current period. These matters were addressed in the context of our audit of the financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. The significant risks of
material misstatement referred to in the EU Regulation No 537/2014 point (c) of Article 10(2) are included in the description of
key audit matters below.
We have also addressed the risk of management override of internal controls. This includes consideration of whether there was
evidence of management bias that represented a risk of material misstatement due to fraud.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 117
THE KEY AUDIT MATTER
HOW THE MATTER WAS ADDRESSED IN THE AUDIT
Revenue recognition (EUR 139.3 million)
(Accounting policies for the consolidated financial statements, note 3)
— Eezy Group’s revenue comprises income from
staffing services, professional services as well as
light entrepreneurship services.
— The amount and timing of recognition of reportable
revenues depend on range of services, contract
terms and conditions, and contract term.
— Revenue recognition involves a risk of revenue
being recognized in the financial statements in the
incorrect period or at in-accurate amount.
— We evaluated the appropriateness of the accounting
policies applied to the Compa-ny’s revenue
recognition in accordance with the requirements of
IFRS
— We obtained evidence regarding the accuracy of
revenue recognition by, among other procedures,
performing sample testing to verify that the delivery
of services and the corresponding invoice had been
recorded in the correct financial period in
accordance with the contractual terms. With respect
to trade receivables, we examined receivables
considered doubtful.
— Furthermore, we inspected credit notes and controls
over credit note approval and recognition.
Valuation of consolidated goodwill (EUR 141.7 million) and subsidiary shares in parent company’s financial
statements (EUR 165.9 million)
(Accounting policies for the consolidated financial statements, note 15 and notes to the parent company
financial statements)
— At the balance sheet date 31 December 2025
goodwill totaled EUR 141.7 million, representing
approximately 75,1 % of the consolidated total
assets. The subsidiary shares, EUR 165.9 million,
account for approximately 80,7 % for the parent
company’s total assets.
— Consolidated goodwill is not amortized but is tested
at least annually for impairment. Valuation of
subsidiary shares is tested in connection with the
goodwill impairment testing.
— Group management is responsible for preparing
impairment tests. The calculations use discounted
future cash flow forecasts in which management
makes significant judgments over revenue growth
rate, discount rate and long-term growth rate
underlying the projections.
— Preparation of impairment testing calculations
requires management make significant judgments
and estimates about the future.
— We assessed the reasonableness of the cash flow
forecasts and discount rates used in the
calculations. We analyzed critically the
management assumptions underlying the future
cash flow forecasts.
— We utilized our own valuation specialists that
assessed the technical accuracy of the calculations
and compared the assumptions used to market
and industry information.
— In the year-end audit we considered the
appropriateness and adequacy of the notes
provided on goodwill, subsidiary shares and
impairment testing calculations.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 118
Interest-bearing liabilities (EUR 50.2 million) and financial covenants
(Notes 24 and 26 to the consolidated financial statements)
— At the financial year-end 2025 the consolidated
interest-bearing liabilities totaled EUR 50.2 million,
representing approximately 27 % of the
consolidated equity and liabilities.
— The Group’s loans from financial institutions are
subject to covenant terms defined in the financing
agreements.
— The Company agreed with its lenders on revised
covenant terms in the spring of 2025.
— As part of the audit of the financial statements, we
familiarized ourselves with the terms of the
financing agreements and reconciled the amount of
interest‑bearing liabilities to external balance
confirmations.
— As part of the audit of the financial statements, we
assessed the Company’s compliance with the
covenant terms of the financing agreement by
reviewing the calculations prepared by
management.
— We considered the appropriateness of the notes
concerning the interest-bearing liabilities.
Responsibilities of the Board of Directors and the Managing Director for the Financial Statements
The Board of Directors and the Managing Director are responsible for the preparation of consolidated financial statements that
give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU, and of financial statements that
give a true and fair view in accordance with the laws and regulations governing the preparation of financial statements in
Finland and comply with statutory requirements. The Board of Directors and the Managing Director are also responsible for
such internal control as they determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Board of Directors and the Managing Director are responsible for assessing the parent
company’s and the group’s ability to continue as a going concern, disclosing, as appli-cable, matters relating to going concern
and using the going concern basis of accounting. The financial statements are prepared using the going concern basis of
accounting unless there is an intention to liqui-date the parent company or the group or cease operations, or there is no realistic
alternative but to do so.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is
a high level of assurance, but is not a guarantee that an audit conducted in accordance with good auditing practice will always
detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of the financial statements.
As part of an audit in accordance with good auditing practice, we exercise professional judgment and main-tain professional
scepticism throughout the audit. We also:
— Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal
control.
— Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent company’s or the
group’s internal control.
— Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.
— Conclude on the appropriateness of the Board of Directors’ and the Managing Director’s use of the going concern basis of
accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions
that may cast significant doubt on the parent company’s or the group’s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related
disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may
cause the parent company or the group to cease to continue as a going concern.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 119
— Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether
the financial statements represent the underlying transactions and events so that the financial statements give a true and
fair view.
— Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business units within the group as a basis for forming an opinion on the group financial statements. We are
responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We
remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to
bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe
these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences
of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Other Reporting Requirements
Information on our audit engagement
We have been appointed as auditors by the Annual General Meeting. and our appointment represents a total period of
uninterrupted engagement of eight years. Eezy Plc has been a public interest entity since 9.9.2020.
Other Information
The Board of Directors and the Managing Director are responsible for the other information. The other in-formation comprises
the report of the Board of Directors and the information included in the Annual Report, but does not include the financial
statements or our auditor’s report thereon. We have obtained the report of the Board of Directors prior to the date of this
auditor’s report, and the Annual Report is expected to be made available to us after that date. Our opinion on the financial
statements does not cover the other in-formation.
In connection with our audit of the financial statements, our responsibility is to read the other information identified above and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit, or otherwise appears to be materially misstat-ed. With respect to the report of the Board of Directors, our
responsibility also includes considering whether the report of the Board of Directors has been prepared in compliance with the
applicable provisions, exclud-ing the sustainability report information on which there are provisions in Chapter 7 of the
Accounting Act and in the sustainability reporting standards.
In our opinion, the information in the report of the Board of Directors is consistent with the information in the financial statements
and the report of the Board of Directors has been prepared in compliance with the applicable provisions. Our opinion does not
cover the sustainability report information on which there are provisions in Chapter 7 of the Accounting Act and in the
sustainability reporting standards.
If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s report, we
conclude that there is a material misstatement of this other information, we are re-quired to report that fact. We have nothing to
report in this regard.
Helsinki 10
th
February 2026
KPMG OY AB
Audit Firm
Niklas Oikia
Authorised Public Accountant, KHT
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 120
Assurance report on the Sustainability
Statement
This document is an English translation of the Finnish Assurance Report on the Sustainability statement. Only the Finnish
version of the report is legally binding.
To the Annual general meeting of Eezy Plc
We have performed a limited assurance engagement on the group sustainability statement of Eezy Plc (business identity code
2854570-7) that is referred to in Chapter 7 of the Accounting Act and that is includ-ed in the report of the Board of Directors for
the financial year 1.1.–31.12.2025.
Opinion
Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that
causes us to believe that the group sustainability statement does not comply, in all material respects, with
1) the requirements laid down in Chapter 7 of the Accounting Act and the sustainability reporting standards (ESRS), and
2) the requirements laid down in Article 8 of the Regulation (EU) 2020/852 of the European Par-liament and of the Council
on the establishment of a framework to facilitate sustainable in-vestment, and amending Regulation (EU) 2019/2088 (EU
Taxonomy).
Point 1 above also contains the process in which Eezy Plc has identified the information for reporting in accordance with the
sustainability reporting standards (double materiality assessment).
Our opinion does not cover the tagging of the group sustainability statement with digital XBRL sustainability tags in accordance
with Chapter 7, Section 22, Subsection 1(2), of the Accounting Act, because sustaina-bility reporting companies have not had
the possibility to comply with that requirement in the absence of requirements for the tagging of sustainability information in the
ESEF regulation or other European Union legislation.
Basis for Opinion
We performed the assurance of the group sustainability statement as a limited assurance engagement in compliance with good
assurance practice in Finland and with the International Standard on Assurance Engagements (ISAE) 3000 (Revised)
Assurance Engagements Other than Audits or Reviews of Historical Financial Information.
Our responsibilities under this standard are further described in the Responsibilities of the Authorized Group Sustainability
Auditor section of our report.
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Authorized group sustainability auditor’s Independence and Quality Management
We are independent of the parent company and of the group companies in accordance with the ethical requirements that are
applicable in Finland and are relevant to our engagement, and we have fulfilled our other ethical responsibilities in accordance
with these requirements.
The authorized group sustainability auditor applies International Standard on Quality Management ISQM 1, which requires the
authorized sustainability audit firm to design, implement and operate a system of quality management including policies or
procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory
requirements.
Responsibilities of the Board of Directors and the Managing Director
The Board of Directors and the Managing Director of Eezy Plc are responsible for:
• the group sustainability statement and for its preparation and presentation in accordance with the provisions of Chapter 7 of
the Accounting Act, including the process that has been defined in the sustainability reporting standards and in which the
information for reporting in accordance with the sustainability reporting standards has been identified,
• the compliance of the group sustainability statement with the requirements laid down in Article 8 of the Regulation (EU)
2020/852 of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable
investment, and amending Regulation (EU) 2019/2088, and for
• such internal control as the Board of Directors and the Managing Director determine is necessary to enable the preparation
of a group sustainability statement that is free from material misstatement, whether due to fraud or error.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 121
Inherent Limitations in the Preparation of a Sustainability statement
Preparing a group sustainability statement requires a company to make materiality assessment to identify relevant matters to
report. This includes significant management judgement and choices. It is also characteristic to the sustainability reporting that
reporting of this kind of information includes estimates and assumptions as well as measurement and estimation uncertainty.
When statementing forward-looking information in accordance with ESRS standards, a company's management is required to
make assumptions about possible future events, and to disclose the company's possible future actions in relation to those
events, as well as to prepare the forward-looking information based on these assumptions. Actual results are likely to differ
because forecasted events often do not occur as expected.
Responsibilities of the Authorized Group Sustainability Auditor
Our responsibility is to perform an assurance engagement to obtain limited assurance about whether the group sustainability
statement is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes
our opinion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected to influence the decisions of users taken on the basis of the group sustainability statement.
Compliance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised) requires that we exercise
professional judgment and maintain professional scepticism throughout the engagement. We also:
• Identify and assess the risks of material misstatement of the group sustainability statement, whether due to fraud or error,
and obtain an understanding of internal control relevant to the engagement in order to design assurance procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent
company’s or the group’s internal control.
• Design and perform assurance procedures responsive to those risks to obtain evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
Description of the Procedures That Have Been Performed
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a
reasonable assurance engagement. The nature, timing and extent of assurance proce-dures selected depend on professional
judgment, including the assessment of risks of material misstate-ment, whether due to fraud or error. Consequently, the level of
assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained
had a reasonable assurance engagement been performed.
Our procedures included for ex. the following:
• We interviewed Eezy Plc management and persons responsible for the preparation and gathering of the sustainability
information.
• In relation to the double materiality assessment process, we interviewed persons responsible for the process and
familiarized ourselves with the process description prepared of the double materiality assessment and other documentation
and background materials.
• We familiarized ourselves to the key processes related to collecting and consolidating the sustainability information through
interviews.
• We reviewed the relevant guidance and policies related to the sustainability information disclosed in the sustainability
statement.
• We examined the background documentation and other records prepared by the Company, as appropriate, and evaluated
how they support the information presented in the sustainability statement.
• We evaluated how the ESRS reporting principles had been applied in presenting the sustainability information.
• In relation to the EU taxonomy information we interviewed the management of the company and persons with key roles in
reporting taxonomy information to understand/examine if the company has taxonomy aligned and eligible activities and
reconciled the reported EU taxonomy information to the bookkeeping, as applicable.
Helsinki 10
th
February 2025
KPMG OY AB
Authorized Sustainability Audit Firm
NIKLAS OIKIA
Authorized Sustainability Auditor. KRT
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 122
Independent auditor’s report on the ESEF
financial statements of Eezy Plc
(Translation of the Finnish original)
To the Board of Directors of Eezy Plc
We have performed a reasonable assurance engagement on the financial statements 743700ZKOMTB7X00OW54-2025-12-31-
1-fi.zip of Eezy Plc (Business ID 2854570-7) that have been prepared in accordance with the Commission's regulatory technical
standard for the financial year ended 31.12.2025.
Responsibilities of the Board of Directors and the Managing Director
The Board of Directors and the Managing Director are responsible for the preparation of the company's report of the Board of
Directors and financial statements (the ESEF financial statements) in such a way that they comply with the requirements of the
Commission's regulatory technical standard. This responsibility includes:
• preparing the ESEF financial statements in XHTML format in accordance with Article 3 of the Commission's regulatory
technical standard
• tagging the primary financial statements. notes and company's identification data in the consolidated financial statements
that are included in the ESEF financial statements with iXBRL tags in accordance with Article 4 of the Commission's
regulatory technical standard and
• ensuring the consistency between the ESEF financial statements and the audited financial statements.
The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary
to enable the preparation of ESEF financial statements in accordance with the requirements of the Commission's regulatory
technical standard.
Auditor’s Independence and quality management
We are independent of the company in accordance with the ethical requirements that are applicable in Finland and are relevant
to the engagement we have performed. and we have fulfilled our other ethical responsibilities in accordance with these
requirements.
The auditor applies International Standard on Quality Management (ISQM) 1. which requires the firm to design. implement and
operate a system of quality management including policies or procedures regarding compliance with ethical requirements.
professional standards and applicable legal and regulatory requirements.
Auditor’s responsibilities
Our responsibility is to. in accordance with Chapter 7. Section 8 of the Securities Markets Act. provide assurance on the
financial statements that have been prepared in accordance with the Commission's regulatory technical standard. We express
an opinion on whether the consolidated financial statements that are included in the ESEF financial statements have been
tagged. in all material respects. in accordance with the requirements of Article 4 of the Commission's regulatory technical
standard.
Our responsibility is to indicate in our opinion to what extent the assurance has been provided. We conducted a reasonable
assurance engagement in accordance with International Standard on Assurance Engagements (ISAE) 3000.
The engagement includes procedures to obtain evidence on:
• whether the primary financial statements in the consolidated financial statements that are included in the ESEF financial
statements have been tagged. in all material respects. with iXBRL tags in accordance with the requirements of Article 4 of
the Commission's regulatory technical standard and
• whether the notes and company's identification data in the consolidated financial statements that are included in the ESEF
financial statements have been tagged. in all material respects. with iXBRL tags in accordance with the requirements of
Article 4 of the Commission's regulatory technical standard and
• whether there is consistency between the ESEF financial statements and the audited financial statements.
The nature, timing and extent of the selected procedures depend on the auditor’s judgment. This includes an assessment of the
risk of a material deviation due to fraud or error from the requirements of the Commission's regulatory technical standard.
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
EEZY PLC | REPORT OF THE BOARD OF DIRECTORS AND FINANCIAL STATEMENTS 2025 123
Opinion
Our opinion pursuant to Chapter 7. Section 8 of the Securities Markets Act is that the primary financial statements. notes and
company's identification data in the consolidated financial statements that are included in the ESEF financial statements of Eezy
Plc 743700ZKOMTB7X00OW54-2025-12-31-1-fi.zip for the financial year ended 31.12.2025 have been tagged. in all material
respects. in accordance with the requirements of the Commission's regulatory technical standard.
Our opinion on the audit of the consolidated financial statements of Eezy Plc for the financial year ended 31.12.2025 has been
expressed in our auditor's report dated 10.2.2026. With this report we do not express an opinion on the audit of the consolidated
financial statements nor express another assurance conclusion.
Helsinki, 2 March 2026
KPMG OY AB
Audit Firm
Niklas Oikia
Authorised Public Accountant, KHT
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