Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Group Management Report | Consolidated Financial Statements 43 In 2025, the ÖBB-Infrastruktur Group’s double materiality analysis was updated under the leadership of the ÖBB-Infrastruktur AG sustainability team. The implications, as well as sustainability-related risks and opportunities, have been assessed, and certain wording and assessments have been refined. The continued close involvement of our colleagues from Risk Management played a key role in helping us understand the specific requirements regarding financial materiality. Furthermore, as in the previous year, a comparison was conducted with the existing risks and opportunities identified through risk management, in order to ensure a consistent and comprehensive analysis. Following reconciliation, any remaining net risks are to be included in the Enterprise Risk Management (ERM) portfolio. No significant distinction is envisaged in the prioritisation of sustainability risks compared with other types of risk. Stakeholder engagement Part of the process of conducting the double materiality analysis involves regularly engaging with relevant stakeholders and interest groups. A round-table discussion with relevant industry representatives took place in June 2025. The opportunities and risks for workers in the value chain were discussed. The findings were incorporated into the update of the 2025 materiality analysis. Results of the double materiality analysis The Management Board of the ÖBB-Infrastruktur Group approved the results of the updated 2025 Double Materiality Analysis in spring 2026, and the Supervisory Board was informed of the outcome. No material impacts, risks or opportunities were identified in relation to the thematic standards “E3 Water and marine resources” and “E2 Pollution” for the 2025 reporting year.