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

Our Business Model

STRATEGIC REPORT

We create value by leveraging our key relationships, global positioning and innovative approach to deliver products that are both sustainable and fit for purpose.

1 We use our key resources... Our people We take measures to attract, retain

Our expertise We focus on continuous improvement, through product development, value engineering and acquisitions.

Our relationships We take pride in our great

Our infrastructure We prioritise capital investment, which ensures that our worldwide manufacturing operations can meet market demand.

Our financial rigour We take a prudent approach to growth, with a solid balance sheet underpinned by our control framework and gearing.

Our responsible approach Sustainability is embedded in our business, in both what we offer our customers and how we manage our operations.

and develop the best talent at all levels and across all disciplines.

relationships with customers and other stakeholders, which are built on trust and proven track record..

2 and apply our Group

7 and unlock value for our stakeholders.

3 to enable our business units…

4 to focus on our areas of expertise...

5 and create innovative products and services...

6 that fulfil our purpose... To improve people’s lives with intelligent power, smart lighting and sustainable homes.

strategic priorities and core values…

Consumers Reliable solutions that ‘keep the lights on’ and enhance sustainable living. Customers Advanced, well-supported products that can be relied upon for longevity and a reduced carbon footprint. Employees Fulfilling, meaningful careers where people are actively engaged and rewarded for delivering value. Shareholders An ethical investment, providing a growing dividend return over the long term, while also furthering the sustainability agenda. Communities Social consciousness and investment in, and active support for, the local communities we operate in around the world. Environment Products and operations that promote the health of the planet, mitigating climate change and promoting biodiversity. Government Products and services that support government schemes and regulations to proliferate renewable energy and raise appropriate taxes. Suppliers Long-term, strategic partnerships and contracts that allow investment for the future and shared value creation.

Our Group strategic priorities

High-performing businesses in diverse industries

Customer at the centre of everything we do

i c

t r

e c

o n

E l

t i

u

Engagement and development of our people Sustainable solutions and communities Excellence through innovation to differentiate and lead

i b

c y

t r

L u

i s

D

g y

e r

E n

| Electrical switchgear | Intelligent street lighting | EV charging products | IoT connectivity and control | Electrical safety fuses | Property for rental and purchase

Our values

S

m a r

L u

Caring

t

c y

C i

t i

C o

e s

n t

Trusted

r o

For more information see:

l s

S

u s

t a

Our products and services: pages 8 to 11. Our solutions: page 10. Our purpose and values: page 13. Our strategy: pages 24 to 25. Our expertise: pages 8 to 11. Our financial rigour: pages 56 to 59. Our responsible approach: pages 66 to 79. Our people: pages 75 to 79. Our relationships: pages 92 to 93.

i n

Working together

a

b l

e

L i

v i

n g

L u

Excellence

c y

R e

a l

E s

t a

t e

Daring to differentiate

22

|

Lucy Group Ltd Annual Report & Accounts 2025

LUCYGROUP.COM

|

23