2023 UNIVERSAL REGISTRATION DOCUMENT

Circular economy risks and opportunities

Risk	Description of the net risk	*Horizon ^()**	Business lines
1. Risks related to waste production, processing and disposal	1. Risks related to waste production, processing and disposal Description of the net risk The production, processing and disposal of waste resulting from the Group’s construction activities and those of its suppliers carries the risk of degrading natural environments and may constitute a nuisance for local populations, while contributing to the depletion of certain virgin raw materials. The Group has pledged to reduce this risk by committing to optimise resources thanks to the circular economy by 2030. Risk management procedures are already in place and include the following: waste monitoring incorporated into environmental reporting; implementing residual waste management plans at worksites and developing solutions to improve the sorting and recovery of waste and the reuse of recycled materials in construction. These actions are presented in paragraphs 3.3.1, “Promoting the use of techniques and materials that economise on natural resources”, page 246, and 3.3.2, “Improving waste sorting and recovery”, page 248, both in the “Environmental performance” section.	1. Risks related to waste production, processing and disposal *Horizon ^()** ST	1. Risks related to waste production, processing and disposal Business lines VINCI Autoroutes VINCI Concessions VINCI Energies Cobra IS VINCI Construction
2. Increasing scarcity of resources	2. Increasing scarcity of resources Description of the net risk The construction and energy production sectors consume significant quantities of raw materials (sand, wood, aggregates, metal, etc.). Extracting these resources carries the risk of degrading natural environments and reducing a region’s resilience to climate change. Sourcing the raw materials needed for the Group’s activities may become problematic in the face of increasing resource scarcity. The Group has pledged to reduce this risk by committing to optimise resources thanks to the circular economy by 2030. Risk mitigation strategies involve eco-designed construction, responsible supply chains promoting the use of materials of recycled origin by every division, in particular to reduce the quantity of asphalt mix used for motorway maintenance (see paragraph 3.3.1, “Promoting the use of techniques and materials that economise on natural resources”, of the “Environmental performance” section, page 246).	2. Increasing scarcity of resources *Horizon ^()** LT	2. Increasing scarcity of resources Business lines VINCI Autoroutes VINCI Concessions VINCI Energies Cobra IS VINCI Construction VINCI Immobilier

Risk

Description of the net risk

Horizon ^(*)

Business lines

1. Risks related to waste production, processing and disposal

The production, processing and disposal of waste resulting from the Group’s construction activities and those of its suppliers carries the risk of degrading natural environments and may constitute a nuisance for local populations, while contributing to the depletion of certain virgin raw materials.

The Group has pledged to reduce this risk by committing to optimise resources thanks to the circular economy by 2030. Risk management procedures are already in place and include the following:

waste monitoring incorporated into environmental reporting;
implementing residual waste management plans at worksites and developing solutions to improve the sorting and recovery of waste and the reuse of recycled materials in construction. These actions are presented in paragraphs 3.3.1, “Promoting the use of techniques and materials that economise on natural resources”, page 246, and 3.3.2, “Improving waste sorting and recovery”, page 248, both in the “Environmental performance” section.

VINCI Autoroutes VINCI Concessions VINCI Energies

Cobra IS VINCI Construction

2. Increasing scarcity of resources

The construction and energy production sectors consume significant quantities of raw materials (sand, wood, aggregates, metal, etc.). Extracting these resources carries the risk of degrading natural environments and reducing a region’s resilience to climate change. Sourcing the raw materials needed for the Group’s activities may become problematic in the face of increasing resource scarcity.

The Group has pledged to reduce this risk by committing to optimise resources thanks to the circular economy by 2030. Risk mitigation strategies involve eco-designed construction, responsible supply chains promoting the use of materials of recycled origin by every division, in particular to reduce the quantity of asphalt mix used for motorway maintenance (see paragraph 3.3.1, “Promoting the use of techniques and materials that economise on natural resources”, of the “Environmental performance” section, page 246).

VINCI Autoroutes VINCI Concessions VINCI Energies Cobra IS VINCI Construction VINCI Immobilier

Opportunity	Description of the opportunity	*Horizon ^()**	Business lines
1. Waste reduction and recycling	1. Waste reduction and recycling Description of the opportunity In response to the growing scarcity of natural resources, VINCI is already offering its customers a range of solutions to recycle, reuse and recover materials, soil and sediment. These solutions are presented in paragraphs 3.3.1.2, “Solutions designed to promote responsible sourcing and the deployment of sustainable materials”, page 247, 3.3.2.2, “Reuse solutions”, page 250, and 3.3.3, “Developing recycling solutions”, page 251, all in the “Environmental performance” section.	1. Waste reduction and recycling *Horizon ^()** ST	1. Waste reduction and recycling Business linesVINCI Construction

(*) Short term (ST), medium term (MT), long term (LT).

2023 UNIVERSAL REGISTRATION DOCUMENT

General and financial elements

Circular economy risks and opportunities