LucyGroup-ARA2024_spreads web ready_FINAL

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BUSINESS OVERVIEW STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION

Learning & development We value our employees and their contribution to the Group, and we want to help them grow personally and professionally. In 2024, our internal L&D team delivered over 100 courses across the globe, training over 1,200 employees on topics such as the six critical practices of leading a team, mental health awareness, seven habits of highly effective people, and insights discovery. We have also introduced more e-learning content, which has been developed internally to support our recently released Leading Responsibly framework. We have partnered with LinkedIn Learning and Franklin Covey to enable learning from anywhere and around busy schedules. In 2024, we delivered over 13,000 hours of learning to our employees. Wellbeing Throughout 2024, wellbeing has been a key area of focus for the Group. We prioritised driving and delivering global and local wellbeing activities, introducing new intranet pages, panel webinars, increased support, and various

events. Mental health awareness training was a particular highlight, with our wellbeing team hosting numerous well attended global webinars on topics such as neurodiversity, men’s health awareness, stress management, the power of sleep, and mental health. Our ongoing commitment and efforts are reflected in our recent employee engagement survey, where 81% of employees believe that health and wellbeing is a priority at Lucy Group, marking a 1% increase from our previous survey. This positive result places us 3% above the manufacturing benchmark, positioning Lucy Group in the top 25% among our peers. Looking ahead, we aim to strengthen our approach by building upon our global wellbeing strategy. This endeavour will enhance the support available to all employees, embedding it at every level of the organisation and within our practices and procedures. This is a top priority and, through these efforts, we aim to be placed in the top 10% for our industry benchmark by achieving a score of 84%. Other result highlights from our recent survey include:

Overall, these efforts have led to a significant improvement in engagement scores (+14%), making Lucy Zodion the most improved business in the Group. Together, we have transformed challenges into opportunities, fostering a culture of engagement and wellbeing that aims to empower every individual at Lucy Zodion.

CASE STUDY

Wellbeing at Lucy Zodion

In response to a shift in engagement scores during a period of transition, Lucy Zodion implemented a comprehensive strategy to enhance employee engagement and wellbeing, with a strong focus on supporting our employees. This began with a thorough needs analysis, including a culture audit and one on-one discussions to assess employee needs and company culture. Based on the findings, several wellbeing initiatives were introduced, such as social wellbeing events including go-karting and bowling, enhanced mental wellbeing support, and the creation of an employee Wellness Room to provide a space for employees to take a break and reset when needed. Other targeted actions included an office restructuring, employee values awards, values workshops, enhanced communication with shop floor employees, and frequent polls to gather insights on areas of focus.

81% of employees say they are provided with information and support needed to manage their health and wellbeing.

80% of employees believe that Lucy Group support their physical wellbeing.

80% of employees feel confident in speaking to their manager about challenges they may be facing.

• Seven Habits Leader Implementation – using the 7 habits framework for effective leadership. • International Assignment Preparation – process, documentation, skills and ideas to prepare for international assignments. • During the course of 2024, each candidate worked on an international assignment to give them broad exposure to Lucy’s businesses and to enhance their learning and leadership skills.

CASE STUDY

Future Leaders Programme

The Strategic Report was approved by the Board of Directors and signed on its behalf by:

In January 2024, we kicked off the two-year ‘Future Leaders Programme’ with our first cohort of candidates, focusing on Lucy Electric as a pilot test. The first intensive week consisted of: • Insights Discovery – personality types and how to adapt and connect with others. • Mentoring – how to be an effective mentor and how to get the best out of being a mentee. • Team Building Day – the six future leaders pitted their skills against the Lucy Electric Executive Team (ET) – and won convincingly – in activities such as archery and shooting.

Richard Dick Executive Chairman

20 March 2025

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Lucy Group Ltd Annual Report & Accounts 2024

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