32816-Lucy-Group-AR-2025 web ready spreads_FINAL

BUSINESS OVERVIEW

Contents

Lucy Group is an international group that makes the engineered environment sustainable.

Report Highlights P04 Chairman’s Statement Richard Dick summarises the key performance highlights of 2025. P20 Our Innovation Pipeline Strategic innovation themes in response to prevailing market trends. P28 Operational Review The latest upgrades in our Focused annual reviews for Lucy Electric, Lucy Controls and Lucy Real Estate. P66 ESG Progress towards our sustainability goals and CSR highlights. P152 Financial Summary Key financial data over the past five years. business processes and manufacturing facilities. P30 Business Reviews

Business Overview Highlights Chairman's Statement Our Business at a Glance

02 04 08 10

Our Solutions Our Locations

12 13

Our Purpose Framework

Strategic Report Market Overview Our Innovation Pipeline Our Business Model Our Group Strategy Operational Review Business Reviews: Lucy Electric Key Performance Indicators

16 20 22 24 26 28 30 40 48 56 60 66 82 84 90 92 94 95

Lucy Controls

Lucy Real Estate

Financial Review Risk Management

Environmental, Social and Governance (ESG)

Our electric businesses advance the transition to a carbon-free world with infrastructure that enables renewable energy and smart cities. Our real estate businesses support sustainable living through responsible property development and investment.

Corporate Governance Board of Directors Corporate Governance Report

Report of the Directors

Relations with Stakeholders Directors’ Responsibilities

Independent Auditor’s Report to the Shareholders of Lucy Group Ltd Financial Statements Consolidated Income Statement 100 Consolidated Statement of Comprehensive Income 101 Consolidated Statement of Financial Position 102 Consolidated Statement of Cash Flows 103 Consolidated Statement of Changes in Equity 104 Principal Accounting Policies 105 Notes to the Accounts 113 Company Statement of Financial Position 137 Company Statement of Changes in Equity 138 Notes to the Company Accounts 139 Shareholder Information Advisors, Financial Calendar and Registered Office 150 Notice of Meeting 151 Five-Year Summary 152 Contacts 154

For more information visit our website: www.lucygroup.com

LUCYGROUP.COM

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