Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Group Management Report | Consolidated Financial Statements 57 The ÖBB-Infrastruktur Group has identified the following key climate-related risks based on a thorough climate risk and vulnerability analysis (see sub-section E1 IRO-1 ), the following key climate-related risks have been identified: Climate risks Physical climate risks – Heat – Floods – Avalanches – Heavy precipitation – Storm Transitory climate risks – Failure to meet CO 2 emission reduction targets Resilience of the strategy and business model in the context of climate change The resilience analysis covers all business activities of the ÖBB-Infrastruktur Group including all significant physical and transitory climate risks, as well as parts of the value chain. It was performed in November 2025 and is based on the assumptions and parameters of the Austrian Environment Agency’s “Transition” scenario for transitional climate risks, and the RCP 8.5 scenario for physical climate risks. To determine the resilience of the business model, the identified gross risks were converted into net risks. The extent to which existing or planned measures, in particular climate protection measures and measures to adapt to climate change in accordance with ESRS E1-3, can contribute to reducing gross risks was reviewed. The time horizons used in the resilience analysis correspond to those used in the climate risk analysis (see sub- section E1 IRO-1 ). The analysis has shown that there are uncertainties regarding the speed and scope of regulatory changes, the market development for sustainable technologies and the impact of extreme weather events on the rail transport infrastructure. Specific strategies, targets and measures were developed for assets and business activities identified as being exposed to risk (rail transport infrastructure), in order to address these risks (see sub-section E1-3 E1-4 ). The ÖBB- Infrastruktur Group is in a position to adapt its business model to the consequences of climate change in the short, medium and long term, as the planned measures (see s ub-sections E1-3 E1-4 ) are backed by corresponding financial resources in the budgets. This makes the ÖBB-Infrastruktur Group resilient to significant climate risks. IRO-1 Description of the processes to identify and assess material climate-related impacts, risks and opportunities The ÖBB-Infrastruktur Group has implemented procedures for identifying and assessing climate-related impacts, risks and opportunities. These include both climate-related physical risks and transition risks and opportunities that may arise in its own operations. The analysis also took the value chain into account. The upstream value chain was identified, in particular, as a key factor, as dependence on upstream suppliers and their adaptation to climate-related regulatory or market changes can have a material impact on the ÖBB-Infrastruktur Group’s decarbonisation ambitions. This consideration ensures that potential risks from the value chain are included in the assessment. Information on the impact on climate change, in particular through greenhouse gas emissions, is disclosed in sub-section E1-6 . Climate-related physical risks The evaluation of short-term risks from force majeure and natural hazards has been an integral part of the ÖBB- Infrastruktur Group’s risk management for many years. In the 2022 financial year, a climate risk and vulnerability analysis was performed for the first time to assess physical climate risks. This was expanded and updated in 2025. The key physical climate risks identified have been categorised according to short-term (the reporting period of the financial statements), medium-term (up to 2030) and long-term (up to 2050) time horizons. The analysis showed that climate hazards can vary depending on the time horizon considered.