Avegen Health is committed to achieving Net Zero emissions by 2030.

Baseline Emissions Footprint

Baseline emissions are a record of the greenhouse gases that have been
produced in the past and were produced prior to the introduction of any
strategies to reduce emissions. Baseline emissions are the reference point
against which emissions reduction can be measured.

Baseline Year: 2024

Additional Details relating to the Baseline Emissions calculations.

Avegen has not previously reported Scope 3 emissions. As such, this Carbon
Reduction Plan establishes a new baseline year of 2024–2025 for Scope 1, Scope
2, and Scope 3 emissions. The creation of this baseline reflects the company’s
recent transition to improved sustainability practices and formal emissions
tracking, following substantial changes in operational structure and growth in
team size and hybrid work practices. Going forward, Avegen will continue to
monitor and refine its emissions reporting with an annual review process,
including more granular data on commuting and home working emissions.

Current Emissions Reporting

Emissions reduction targets (double employees in London)

We aim to reduce our total carbon emissions by 25% over the next five years, targeting 1.88 tCO₂e by 2029. This target will be achieved through continued investment in energy-efficient cloud services, increased remote working, and adopting low-emission travel practices.

Progress against these targets can be seen in the graph below:

Carbon Reduction Projects

Completed Carbon Reduction Initiatives

The following environmental management measures and projects have been
implemented since the 2024 baseline. They are projected to achieve a carbon
emission reduction of approximately 0.532 tCO₂e (a 17.6% reduction from the
baseline), which will take effect during the performance of the contract.

1. Implemented a remote friendly working policy:
   This policy has successfully reduced emissions from commuting and office
   heating/cooling by encouraging employees to work from home. It has significantly
   lowered the need for daily office travel, which contributes to a reduction in both
   Scope 3 (commuting) and Scope 2 (office energy use) emissions.
   
2. Adopted cloud-native digital systems:
   The company migrated to cloud-based digital platforms, utilizing servers hosted
   by providers who are committed to renewable energy sources. This shift reduced
   the carbon footprint associated with on-premise IT infrastructure and server
   management.
   
3. Replaced all business travel with virtual meetings:
   The transition to virtual meetings has reduced emissions from air travel and other
   business trips, except for critical client engagements. This change has been key
   in limiting carbon emissions related to transportation and travel.
   In the future we hope to implement further measures such as:
   
4. Encouraging employee home energy efficiency:
   We plan to incentivise employees to improve the energy efficiency of their homes
   through internal sustainability programs. This could include offering subsidies for
   energy-efficient appliances, promoting the use of renewable energy sources, and
   encouraging the reduction of home energy consumption.
   
5. Carbon-offsetting initiatives for any unavoidable travel:
   For any necessary travel that cannot be replaced by virtual meetings, we will
   contribute to certified carbon offset programs to neutralize the environmental
   impact. Additionally, we encourage cycling to work through casual clothes policy.
   This is part of our commitment to achieving Net Zero.
   
6. Partnering with sustainable cloud services and green digital platforms:
   We aim to partner with cloud providers and digital platforms that are committed to
   sustainability practices, such as using renewable energy for their data centres
   and reducing carbon emissions across the digital supply chain. Notable examples
   include Google Cloud, Microsoft Azure, and Amazon Web Services (AWS)—all of
   which have made significant investments in renewable energy and carbon
   reduction initiatives. Additionally, we look to collaborate with platforms like
   Salesforce, which has achieved net-zero emissions, and IBM Cloud, known for its
   environmental transparency and green innovation.
   
7. Encouraging sustainable eating habits:
   To further reduce the environmental impact, we plan to encourage employees to
   bring home-cooked meals to work and avoid excessive food packaging. This will
   reduce food waste and packaging waste, as well as minimise the environmental
   impact of food sourcing. We also work in a B Corp certified office that has both dry
   and food recycling facilities.

Declaration and Sign Off

This Carbon Reduction Plan has been completed in accordance with PPN 06/21
and associated guidance and reporting standard for Carbon Reduction Plans.
Emissions have been reported and recorded in accordance with the published
reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol
corporate standard and uses the appropriate Government emission conversion
factors for greenhouse gas company reporting.

Scope 1 and Scope 2 emissions have been reported in accordance with SECR
requirements, and the required subset of Scope 3 emissions have been reported
in accordance with the published reporting standard for Carbon Reduction Plans
and the Corporate Value Chain (Scope 3) Standard.

This Carbon Reduction Plan has been reviewed and signed off by the board of
directors (or equivalent management body).

Date: 09/01/2026