Metrics and Targets 32-34

Greenhouse Gas Emissions

Scope 1 Emissions

7,874 tCO2e (2025)

• -22% change since 2019
• 10% increase year-on-year (attributed to increased refrigerant consumption due to maintenance activities during 2025)
• Includes base building natural gas and stationary diesel consumption onsite as well as emissions from refrigerant loss

Scope 2 Emissions

Location-based: 72,365 tCO2e (2025)

• -42% change since 2019
• -11% year-on-year change
• Reflects the emissions of the electricity grid each asset operates in and is calculated using grid-average emission factors for the locations where energy is used. Does not include offsite renewable energy.

Market-based: 10,080 tCO2e (2025)

• -89% change since 2019
• -39% year-on-year change
• Reflects the emissions of electricity procurement decisions, including the purchase of offsite renewable energy. Under the market-based method, renewable electricity is recognised where Large-scale Generation Certificates (LGCs) or GreenPower units from offsite or onsite renewable energy sources are voluntarily retired.

Net Emissions (Market-based)

Net Scope 1 & 2 (market-based): 4,579 tCO2e (2025)

• -95% reduction since 2019
• -59% year-on-year change
• Total Scope 1 and 2 (market-based) emissions, less any relevant carbon offsets (13,375 tCO2e in offsets applied)

Net Scope 1 & 2 Intensity (market-based): 3 kgCO2e/m² (2025)

• -94% reduction since 2019
• -50% year-on-year change

Methodology and Calculation Approach

The GHG emission calculations adhere to and are assured against the Greenhouse Gas (GHG) Protocol, with disclosures for both location-based and market-based methods. GPT manages our own renewable energy certificate registry with the Clean Energy Regulator in alignment with the Greenhouse Gas (GHG) Protocol market-based carbon accounting practice.

Due to the inherent uncertainties in measuring or quantifying greenhouse gas (GHG) emissions, references to emissions and emissions intensity are estimates. These estimates are calculated using actual consumption data and, where actual data is not available, estimates are calculated based on prior consumption, current period data and forecast data; as well as publicly available emissions factors.

Consolidation Approach

Environmental data is reported for assets in which GPT has an ownership interest and that were under GPT's property management or co-owner property management for the full year ended 31 December 2025.

Third-Party Assurance

In 2025, GPT obtained limited assurance over sustainability performance data for various climate metrics. Annual assurance of data and metrics is conducted in accordance with relevant assurance standards for non-financial reporting.

Scope 3 Emissions

This Statement focuses on material emissions within our operational control, primarily Scope 1 and 2 emissions. While we acknowledge that future reporting may expand on Scope 3 emissions, that is not the focus of this Statement.

Greenhouse gas emissions

Scope 1 and 2 emissions

2025 gross Scope 1 and 2 GHG emissions (adjusted equity basis): 31.5 Mt CO2e (2024: 31.7 Mt CO2e)

Progress against baseline: Our gross adjusted Scope 1 and 2 emissions are 14% below 2018 levels. After applying high-integrity offsets, our net adjusted Scope 1 and 2 emissions are 17% below our baseline.

Breakdown by source (31.5 Mt CO2e):

• Electricity generation and purchase: 40%
• Anode reductants: 21%
• Stationary heat and steam: 23%
• Mobile and transport fuels: 13%
• Other emissions: 3%

Breakdown by business unit:

• Aluminium & Lithium: ~77% of total emissions
• Copper, Iron Ore and Other: ~23% of total emissions

Scope 3 emissions

2025 Scope 3 GHG emissions (equity basis): 575.7 Mt CO2e (2024: 569.8 Mt CO2e)

Scope 3 breakdown (575.7 Mt CO2e):

• Iron Ore customer processing: 398.5 Mt CO2e
• Bauxite & Alumina customer processing: 135.2 Mt CO2e
• Other customer processing: 12.2 Mt CO2e
• Marine & logistics: 10 Mt CO2e
• Procurement: 19.1 Mt CO2e
• Business travel & waste: 0.7 Mt CO2e

Iron Ore processing breakdown (398.5 Mt CO2e):

• Blast furnace: 63%
• Sinter plant: 20%
• Steel converter: 9%
• Coke production: 7%
• DRI: 0.4%

Bauxite & Alumina processing breakdown (135.2 Mt CO2e):

• Smelting electricity: 67%
• Smelting anodes & other: 18%
• Refining process heat: 13%
• Refining electricity: 2%

Marine & logistics breakdown (10 Mt CO2e):

• Chartered vessels: 57%
• Raw materials/high emission goods: 44%
• Other logistics: 17%

Procurement breakdown (19.1 Mt CO2e):

• Operational expenditure purchases (caustic, explosives, coke, pitch): 12.8 Mt CO2e
• Capital expenditure purchases (machinery, electrical equipment): 1.8 Mt CO2e
• Purchased fuels: 4.5 Mt CO2e

Carbon credits and offsets

2024 compliance: We retired approximately 1.01 million Australian Carbon Credit Units (ACCUs) to meet our 2024 Safeguard Mechanism compliance obligations

2025 expected compliance: We expect to retire approximately 1.17 million ACCUs to meet our 2025 compliance obligations

Credit quality: ACCUs retired under the Safeguard Mechanism are counted toward our net emissions number after passing our due diligence assessment, including meeting our high-integrity criteria

Methodology and calculation approach

Reporting basis: Emissions reported on adjusted equity basis for Scope 1 and 2, equity basis for Scope 3

Baseline adjustments: We adjust our 2018 baseline to exclude emissions reductions resulting from divestments and to incorporate emissions associated with acquisitions. The baseline was adjusted in 2025 to reflect QAL participation changes due to tolling arrangements (80% to 100%), as well as other equity share changes and acquisitions.

Target framework: We aim to reduce our net Scope 1 and 2 emissions by 50% by 2030 (relative to 2018 levels), and limit the contribution of carbon credits to 10% of that baseline.

Year-on-year comparison: Reductions were driven by the increased use of renewable diesel at Kennecott offset by higher emissions from increased production, particularly in iron ore and copper. Final safeguard liability for 2024-2025 was less than planned, therefore the net emissions number and carbon credits have been restated.

Scope 1 and 2 net emissions (equity share): 42% reduction from our baseline year of 2019-20.

In 2025, Santos' Scope 1 and 2 net emissions (equity share) were 42 per cent lower than our baseline year of 2019–20. As a result, Santos' net emissions were below our 2030 target to reduce Scope 1 and 2 net emissions (equity share) by 30 per cent.

Greenhouse gas emissions

2025 emissions performance

The Group defines the greenhouse gas (GHG) emissions boundary using the operational control approach, which is consistent with the National Greenhouse and Energy Reporting (NGER) Scheme in Australia. Under this approach, 100% of emissions from operations over which the Group has operational control regardless of ownership interest is accounted for. This approach is consistent with industry practice and supports the Group to measure and focus on the emissions it can influence.

The Group's scope 1 and 2 emissions in the year were 181,173 tCO2e, comprising of 10,074 tCO2e scope 1 and 171,099 tCO2e scope 2. Emissions reduced by 2% compared to the prior period, reflecting the continued implementation of the Group's net zero strategy.

Total portfolio emissions

Consolidated accounting breakdown

Below is a supplementary breakdown of emissions that relate to operations included within, and outside, the consolidated accounting group. This approach is aligned with the financial accounting consolidation approach.

Methodology, calculation approach, and emission factors

Scope 1 and 2 emissions are reported using both location‑based and market-based methodologies.

Scope 1 emissions are direct emissions from sources under the Group's operational control that primarily arise from the consumption of gas for heating, fuels for emergency power generation and refrigerants in air conditioning units.

Scope 2 emissions are indirect emissions from the generation of purchased electricity consumed in the common areas of the Group's destinations, predominantly for air conditioning, lighting and vertical transport.

Emissions are measured in accordance with the Greenhouse Gas (GHG) Protocol: A Corporate Accounting and Reporting Standard, with reference to the additional guidance provided by the GHG Protocol Scope 2 Guidance (amendment to GHG Protocol).

Detailed measurement approaches

Scope 1

• Measurement approach: Scope 1 emissions are measured in accordance with the GHG Protocol and with reference to other guidance including the NGER Measurement Determination for Australia and with the Ministry for the Environment's guidance for New Zealand.
• Input and source data:
  • Natural gas: Consumption data is sourced from utility invoices. Gaps in data are estimated based on current year actuals and adjusted to reflect prior year seasonal patterns.
  • Synthetic gas: Data uses actual top-up amounts applied in kilograms as obtained from suppliers.
  • Fuels: Supplier reports and spend based.
• Emission factors: Sourced from National Greenhouse Accounts Factors: 2025 (for Australia) and New Zealand Ministry for the Environment's Measuring emissions: A guide for organisations 2025 (for New Zealand).

Scope 2 (location-based)

• Measurement approach: Scope 2 emissions are measured in accordance with the GHG Protocol and with reference to other guidance including the NGER Measurement Determination for Australia and with the Ministry for the Environment's guidance for New Zealand.
• Input and source data: Electricity consumption data is sourced from utility invoices. Gaps in data are estimated based on metered data, a rolling 12-month average or current-year trends.
• Emission factors: Sourced from National Greenhouse Accounts Factors: 2025 (for Australia) and New Zealand Ministry for the Environment's Measuring emissions: A guide for organisations 2025 (for New Zealand).

Scope 2 (market-based)

Scope 2 (market-based) emissions are voluntarily reported to disclose performance against the Group's target. These emissions are measured in accordance with the GHG Protocol, and with reference to other guidance including Climate Active Electricity Accounting (August 2023).

Consolidation approach

The Group defines the greenhouse gas emissions boundary using the operational control approach, which is consistent with the National Greenhouse and Energy Reporting (NGER) Scheme in Australia. Under this approach, 100% of emissions from operations over which the Group has operational control regardless of ownership interest is accounted for.

Global Warming Potential (GWP) values

The latest available global warming potential (GWP) values reflected are contained in the Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report (AR6).

Scope 3 emissions

The Group has adopted the transitional relief provided under AASB S2 paragraph C4(b) which permits it to not disclose Scope 3 greenhouse gas emissions in its first annual reporting period applying AASB S2.

Year-on-year comparison

Year-on-year emissions data is provided showing a 2% reduction in total scope 1 and 2 emissions from 185,321 tCO2e in 2024 to 181,173 tCO2e in 2025.

Greenhouse gas emissions

The Group measures its Scope 1 and Scope 2 GHG emissions in accordance with our obligations under the National Greenhouse and Energy Reporting Scheme. The Group has applied the operational control approach to determine its organisational boundary for reporting GHG emissions.

Organisational boundary

Viva Energy has operational control of an entity where it has the full authority to introduce and implement its operating policies at the entity. Operational control reflects that the company or one of its subsidiaries has the full authority to introduce and implement its operating policies at the operation.

Scope 1 emissions methodology

Scope 1 emissions include direct emissions from sources that are owned or controlled by Viva Energy. The main sources of our direct emissions are: • Fuel combustion at the Geelong Refinery • Fugitive emissions from the Geelong Refinery • Company vehicle fuel consumption • Fuel combustion from other facilities such as terminals and depots • Fugitive emissions from distribution of petroleum products

Scope 2 emissions methodology

Scope 2 emissions are indirect emissions from the generation of purchased energy consumed by Viva Energy. Our Scope 2 emissions primarily comprise emissions associated with electricity and steam purchased by the Geelong Refinery and other Viva Energy operations.

Electricity emissions factors are taken from the Australian Government's National Greenhouse Accounts Factors publication. For locations where grid average factors are used, these are based on the relevant state.

Scope 3 emissions (voluntary disclosure)

Although disclosure of Scope 3 GHG emissions is not required for this Sustainability Report under AASB S2, the Group has elected to provide this information on a voluntary basis.

Scope 3 emissions are all other indirect emissions that occur in Viva Energy's value chain. Our Scope 3 emissions are dominated by the combustion of fuels that we sell (Category 11: Use of sold products), which represents over 99% of our total Scope 3 emissions.

Assurance

PwC provided reasonable assurance over Scope 1 and 2 GHG emissions and limited assurance over Scope 3 GHG emissions in accordance with Australian Standard on Assurance Engagements ASAE 3000.

Greenhouse gas emissions

Scope 1 and 2 emissions performance

Gross equity Scope 1 and 2 GHG emissions were 6,616 kt CO2‑e, 2.5% fewer than in 2024 despite higher production. Gross equity Scope 1 and 2 emissions do not include the use of carbon credits as offsets.

Net equity Scope 1 and 2 GHG emissions: Woodside delivered its 2025 net equity Scope 1 and 2 GHG emissions reduction target. Achievement of the target reflected a combination of underlying emissions performance at our facilities and the use of carbon credits. These net equity GHG emissions were 15% below the starting base for the 12‑month period ending 31 December 2025. In relation to our 2025 equity Scope 1 and 2 GHG emissions, 1,283 kt CO2‑e carbon credits were retired in order to meet our target of 5,334 kt CO2‑e net equity Scope 1 and 2 GHG emissions.

GHG emissions intensity

Woodside's gross equity Scope 1 and 2 GHG emissions intensity, which measures our GHG emissions performance per unit of production and without the use of carbon credits as offsets improved year on year following start up of Sangomar in 2024, and remains better than a comparable benchmark. Woodside's 2025 actual performance was 27% better (or, 12.4 kg CO2‑e/boe) than the benchmark comparator.

2025 GHG emissions intensity: 33.3 kg CO2‑e/boe

Historical emissions data

Methane emissions

As part of our OGMP 2.0 plan, we have set a five year (to 2029) intensity target to maintain methane emissions intensity below 0.2% of production by volume at operated assets, based on a measurement-based reporting framework. Woodside's reported methane emissions are currently around 0.1%.

Methodology and calculation approach

Starting base: Net equity Scope 1 and 2 GHG emissions reduction targets and aspiration are relative to a starting base of 6.27 Mt CO2‑e which is representative of the gross annual average equity Scope 1 and 2 GHG emissions over 2016–2020 and which may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021.

Net vs Gross: Net equity GHG emissions include the utilisation of carbon credits as offsets, inclusive of those required to meet regulatory obligations. Gross equity emissions are calculated prior to retirement of carbon credits as offsets.

Benchmarking: Woodside analysis, based on Woodside Scope 1 and 2 GHG emissions data for 2025 relative to a comparable portfolio of upstream oil, upstream natural gas and LNG liquefaction assets, based on the average emissions intensity of these project categories reported in Table 3.1 of IEA's "The Oil and Gas Industry in Net Zero Transitions" (November 2023).

Scope 3 emissions

No specific Scope 3 emissions data is disclosed in the provided text, suggesting transitional relief may be applied for material Scope 3 emissions disclosures.

Yancoal reports its greenhouse gas (GHG) emissions and energy consumption in accordance with the Australian Government's National Greenhouse and Energy Reporting Act 2007 (Cth) (NGER Act).

Yancoal submitted its annual emissions and energy report under Section 19 of the NGER Act (s19 report) for the reporting period of 1 July 2024 - 30 June 2025 (FY25).

• Scope 1 emissions arise directly from operational activities, including fugitive emissions from coal extraction and emissions from fuel combustion. • Scope 2 emissions represent indirect emissions associated with purchased electricity.

Total Scope 1 and Scope 2 emissions for the 12-month period ending 30 June 2025 totalled 2,763,249 tonnes of carbon dioxide equivalent (tCO2-e), representing a 21% increase compared with the previous year (FY24). Of this, total Scope 1 emissions accounted for 90% at 2,476,890 tCO2-e, with the remaining 10% resulting from our Scope 2 emissions of 286,360 tCO2-e.

Summary Greenhouse Gas Emissions

Over the same period, total run of mine (ROM) coal production increased by 1%, resulting in an emissions intensity of 0.054 tCO2-e/ROM tonne, a 20% increase from FY24.

The increase in Scope 1 emissions was principally driven by mining in higher gas zones at Ashton and MTW, as well as increased ROM production at Yarrabee. At Ashton, the increase in emissions was primarily driven by development activities shifting into higher‑gas domains.

We are working to map and define our Scope 3 emissions profile.