Young's SeaFood Sustainablity Report Part A

Sustainability Report of Young’s SeaFood Ltd 2020 Love Fish. Love Young’s. Sustainability Report and communication 1 Asseignment module code : 600562 Student number : 201942556

Contents 1. Presentation 3 • Our Business 3 • Our Vision 3 2. About Futur 4 • Our Ambition 4 3. Materiality 5 • Results of SDG Materiality 5 • Importance for the corporration 5 • Importance for Stakeholders 6 4. Materiality to Framework 7 • Materiality Matrix • ESG Framework 7 5. Fish For life 7 6. Topics and Issues • Overfishing 8 • Pollution by waste • Air Pollution 9 • Quality 9 10 10 11 2

Presentation Our Business Welcome to the UK’s biggest specialist seafood brand: Young’s Seafood Ltd. Is a British producer and distributor of frozen, fresh and chilled seafood acquired in 2019 by CapVest and merged with Karro to form the Eight Fifty Food Group. After many years of evolution, since 1805 when it was founded by Elizabeth Young and her family, Young's has continued to grow by creating production sites and buying subsidiaries. We were the first to invent Potted Shrimp and Scampi in 1946, the pioneering early forzen food techniquesin 1948 and introduced frozen prawns in the market in 1949. Young's is led from Ross House based in Grimsby which is one of the oldest fishing ports in Europe, where 1,700 members are based. In addition, around 2000 employees are based in various centres in the north of Ireland and Scotland. It is currently at the centre of seafood production in the UK. while continuing to innovate. It has 12 manufacturing sites across the UK, supplying approximately 40% of all the fish eaten in the United Kingdom every year. If you’re interested in finding out more about our company, please visit the website. Our Vision Our vision is to inspire people to love everything around seadfood and to continue to be close to you so that we can continue to reach out to future generations.. We make it happen every day through our shared passionate ways of working and our values. Young’s wouldn’t be the iconic business it is today without its dedicated and talented employees with their expertise, skills and talents. Nous appliquons une politique de tolérance zéro à l'égard de l'esclavage moderne. Challenge to have Inspire each other to Care about Share our expertise Sincerity with our the best results and be in constant responsability and with consumers and employees and achieve our goals innovation consumers sustainability our teams 3

About Futur Our Ambitions We don’t just make the best fish dishes in the world we also take a serious interest in our community, environment, employeesand customers. Food plays a major role in the difficulties on the market. We offer a large and wide range of products for all types of events, and we give our best so that you can spend good times with your loved ones with a tasty meal. Only this importance for food today poses new problems, such as the origin of the food or the production systems used. Demand is increasing and we must constantly evolve to meet this demand. The impact of aquaculture and fishing is thus being felt. We are constantly seeking to use more respectful ways for our environment, and in a spirit of sustainable development we are determined to improve our resources and methods. For example, we are working with Seafish to develop our prioritisation of potential risks. Million Tonnes 10,9 80 Acquaculture Rest of the fi sheries In order to achieve this ambition, we need to plan for the future, and base ourselves on current facts that will allow us to make changes. We are now in a real collaboration with all our stakeholders and ready to learn more about the indicators we need to focus on. Our ambition is to be in line with our sustainable development objectives by 2025. 95% 10% More Better sustainable quality packaging Fishing Less Cut Reduce less carbon Waste water use emissions spicies 20% 15% 20% 10% 4

Materiality Results of SDG Materiality The first analysis of this report leads us to carry out a materiality study that allows us to identify and prioritise the most relevant sustainability topics in our company, taking into account the effects they have on us and our stakeholders. Influencing assessments, decisions, actions and performance are considered relevant. Importance for the corporration After a study, we present you with a graph showing, in descending order of priority, the different Sustainable Development Goals that we are dealing with and will improve in order of priority to achieve our objectives by 2025. Young’s Top 5 SDGs Young’s Top 5 SDGs : Depending of our stakeholders and the environment in which Young’s operates, our objectives are therefore defined around 5 fundamentals that are in line with our sustainable development strategy. 5

Materiality Importance for Stakeholders We continue to engage with relevant stakeholders and inustry wide initiatives thats we are implementing the best practices to ensure that’s our policies, beahviour and values are in adequation with our sustainability report. We recognise the interest of our stakeholders in the sustainable development of fishing and frozen food companies, and we engage in dialogue with all of them in the process of selling. Internal influences External influences • Employees • Non Governemental organisation (NGOs) • Managers and Governments • Owner : CapVest Limited • Shareholders/Parent : Eight Fifty Food • Suppliers : fish farms, fishermen Customers : local and international clients, B2B clients Group too • Subsidiaries companies : Young’s Retail, • Broader Society : food retailers Young’s Foodservice • Investors and Creditors • Karro Foods Group Limitted • Spnonsors • Trade associations Here is a first study by external stakeholders in 2020 representing a small sample carried out at the University of Hull and another sample of 25 000 of seafood consumers in 23 markets which is of greater importance. In general we find the problems related to : • Quality : people want labeled and certified seafood, localy and sustainable sources • Overhishing : loss of animal spicies • Pollution : damage rivers and oceans • Climate change : destruction rain forest, carbon footprint, changing weather patterns • Waste : food waste and packaging waste 6

Materiality to Framework Materiality Matrix We have identified and studied the most important sustainability topics for us and taken into account quantitative and segmented stakeholders analysis. These factors are now ranked by importance so that we can continue our approach to sustainability. SDG 14 Overfishing SDG 12 Importance to the Corporation SDG 15 Waste SDG 2 Pollution Climate change SDG 8 Quality Sustainable Packaging Importance to Stakeholders Putting ourselves in context again, we can see that some of the stakeholders' expectations are very much in line with our own. ESG Framework Young's pays a great deal of attention to the different activities within its business, which is why we make sure to limit the impact they can have on a societal or environmental level. The Seafood market is constantly evolving and changing with new opportunities and challenges. As a result of our study we have been able to highlight the importance of certain factors for our company. This grid allows us to present our different activities and to highlight some of them. Indeed, we were able to note beforehand that quality, pollution and waste are among the factors that stakeholders and Young's are putting a strong emphasis on regarding sustainable development measures. These are therefore factors that need to be improved. 7

Fish For life Fish For life At Young's we are committed to helping you discover the knowledge of fish and to integrating it into your daily diet in a responsible and sustainable way. BEING HONEST LOOKING AFTER THE ENVIRONMENT FISH FOR ALL ‘FISH FOR LIFE’ IS ABOUT CARING FOR OUR PEOPLE, PLANET AND PARTNERS MANKING FISH FOR LIFE IS WHAT WE DO SENSE OF COMMUNITY SOURCING SEAFOOD RESPONSIBLY This is why we created Fish for Life, which was launched in 2006, to integrate all our key performance indicators for environmental and social responsibility into our vision of development. As the global recognition of issues such as marine pollution, overfishing and climate change grows, our commitments are directly aligned with sustainable development objectives. Through it we have been able to build on 10 responsible principles that have been constantly changing over the last few years. Legality Communication Continuous Research Ethical Improvment Trading Objective Engagement Prohibition Traceability Environmen8 tal assessment Stewardship

Topics and Issues Overfishing Worldwide, the quantity of fish caught is Companies are under enormous pressure enormous because it is linked to a growing from illegal, unregulated and unreported population and a strong demand for fish fishing, which costs the world economy that is increasing year after year, which is between 10 and 23 billion dollars a year. preventing stocks from rebuilding. Young's currently catches around 40 species Overfishing is therefore really present and spread over 5 continents. Overfishing is is not easy to contain. Indeed, it is difficult also closely linked to the destruction of to trace and limit each company in their marine areas, which is an important fishing quotas. It leads to the problem to be taken into account. disappearance of many marine species, disrupts ecosystems and indirectly affects small fishing structures. Over the years we have become aware of the size of the species in the food webs with which we interact. Our first sustainable development goal is to conserve and protect our oceans and all the resources they offer us, so we have decided to act to limit this impact on biodiversity. All our production tends to be measured and regulated to the maximum, we know exactly where our fish come from, how they are caught and by whom. We also do some aquaculture to face of this problem. We ensure that’s we have a reponsible comsumption and production. This supply chain illiustrates well our tracing step by step. We collaborate with NGOs, governments and universities with whom we try to develop methods for more responsible fishing. We are parte of the Fishery Improvement project (FIP) that’s certified fisheries in 36 countries. 9

Topics and Issues Pollution by waste Plastic has no place in our environment. We have been involved in this problem for Marine pollution, mainly from land-based several years now, which is why we are sources, with an average of 13,000 pieces helping to reduce plastic packaging, which is of plastic waste present under every square an important part of our business because it kilometre of ocean. is used to market our products. As you have already seen in our supply chain there are many steps that require the use of sometimes non-recyclable materials such as plastic. Young's Seafood has managed to meet the targets they set for 2018 by eliminating 300 tonnes of plastic by redefining its product range. To achieve this we have reduced the 127 tonnes of paper we used annually by reducing the packaging of some ranges, and replaced 170 tonnes of non-recyclable plastics such as our scampi bags with a fully recyclable material. In addition, we stopped using black plastic which was non-recyclable and contained toxic substances. Our suppliers are in the same optic, and have declared that 80% of the lines are now recyclable. Our packaging is also recognised by certain certification programmes. Air Pollution As a large group we have a significant carbon emission including our entire suplly chain. CO2 The oceans absorb about 30% of the emissions have a great impact on global carbon dioxide emitted by humans. Ocean warming which affects and modifies acidification has been accelerating since ecosystems. the beginning of the industrial revolution with a 26% increase. We have succeeded in largely reaching all the targets we have set ourselves to reduce our carbon footprint, and we wish to continue in this direction in the years to come. For example with the reductions in packaging we have notably taken 256 lorries of the roads which has allowed us to reduce our carbon footprint. 10 All data are expressed in (TCO2)

Topics and Issues Quality We have seen in previous studies that consumers of seafood are willing to pay more to be sure of the origin of what they eat. More and more consumers want information about the products they eat, the origin of the fish or the fishing process. Only 16% of seafood caught in the wild is currently engaged in the MSC standard (certified or under evaluation). At Young's we are certified by numerous organisations that certify responsible fishing, therefore not only quality fish but also the by-products present in our range of products that we offer you. Ingredient Sourcing Ethical Sourcing Quality also depends on the choice of the fish we use, and we wish to pass on our knowledge of marine resources while offering healthy products to as many people as possible. Young's offers a wide range of products in different forms with different accompaniments that can be enjoyed on different occasions. Seafood contains many vitamins and minerals that the body needs. So we help you with Fish For Life to understand a little more about the components of each fish. For example, we provide you with our recommendations on the portions to consume followed by the different ingredients with which to cook and serve them. You can visit our site and learn more about : - Where they come from - On their number - The season in which to sin - Their texture - Their taste - Their fat content. 11

https://youngsseafood.co.uk Address: Young's House, Youngs Se.afood - Marsden Rd, Wickham Rd, Grimsby DN31 3SW, Royaume-Uni 12