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Zotefoams continues to progress in our mission to be a great place to work, while delivering progress in executing our Expanding Beyond the Core strategy.

Executing our Expanding Beyond the Core strategy depends on the strength of our people and culture. In 2025, we strengthened the foundations of an engaged, high‑performing organisation – recognised through our Ones to Watch accreditation in the Best Companies programme – alongside continued focus on several high‑impact people initiatives across the Group.

Clare Farmer

Chief People Officer

Our people and the communities we are part of are central to the success of Zotefoams. We believe that a strong, inclusive culture – rooted in Courage, Impact and Respect, and where health, safety and wellbeing always come first – creates the conditions for individuals to perform at their best and underpins the long‑term sustainability of our business.

During 2025, we continued to invest in creating a positive working environment in which everyone feels valued, supported and empowered to contribute. This included a strong and consistent focus on health and safety, learning and development, employee engagement, and wellbeing across all our locations.

We are committed to attracting, developing and retaining talented people, while promoting fairness, diversity and inclusion throughout the Group. By actively listening to our colleagues and encouraging open and constructive dialogue, we strengthen collaboration and foster a culture of continuous improvement.

Beyond our own operations, we recognise our responsibility to the wider communities in which we operate. Through responsible employment practices, community engagement and ethical business conduct, we aim to make a positive and lasting contribution.

Our social commitments are integral to how we operate and how we grow, ensuring that Zotefoams remains a responsible employer, a trusted partner and a business that creates long-term value for people as well as performance.

Diversity, equity, inclusion and belonging

Building an inclusive global culture

Zotefoams understands the essential role played by culture in supporting our strategy and elevating performance. Our Board supports the continued embedding of a strong culture reflecting our values. Further details in that respect may be found in our Governance section.

As a global employer, Zotefoams brings together colleagues from diverse backgrounds, genders, ethnicities, cultures, religions and beliefs. This diversity is a strength of our business and central to our ambition to be a responsible and inclusive global organisation.

Zotefoams is committed to providing equal opportunity, fair treatment and a genuine sense of belonging throughout the employee lifecycle, from attraction and onboarding through to engagement and long-term retention. We believe that everyone should feel respected, valued and supported to contribute fully and succeed.

Embedding our values

Following the launch of our Company values in 2024, we have continued to strengthen the cultural and behavioural clarity that underpins how we work together.

In 2025, we took a further step by refreshing the values’ visual identity and implementing the updated designs consistently across our workplaces. Our values have also been embedded into the recruitment and induction process, ensuring that colleagues and other stakeholders are introduced to them from their very first interaction with Zotefoams.

This clear, consistent and visible approach reinforces shared expectations and behaviours, supports an inclusive culture in which everyone can thrive, and helps unlock potential across the organisation – progressing our ambition to become a global employer of choice.

Our values

The courage to take bold action to ensure that we succeed in tackling our challenges

Dedicated to making a significant and positive impact in everything we do

Cultivate a respectful and inclusive environment where everyone is valued and collaboration is encouraged

Listening and engagement

In July 2025, we launched the Global Engagement Champions Forum to support inclusion and engagement across the Group. The forum brings together 23 Engagement Champions from across our global business, representing a broad range of roles, functions and locations. Working collaboratively, the Champions provide a structured platform for diverse voices to be heard and focus on identifying and progressing actions that help make Zotefoams an even better place to work.

This global approach has also enabled the Human Resources team to develop deeper insight into local cultures, traditions, best practices and workplace expectations across our locations. This understanding strengthens our ability to attract, develop and retain people from diverse backgrounds, while ensuring our policies and practices remain inclusive, relevant and effective.

We continue to view diversity, equity, inclusion and belonging as fundamental to building a high-performing organisation – supporting innovation and creating a workplace where everyone feels they belong and can achieve their full potential.

Engagement Champions are colleagues who represent local perspectives, promote inclusion and engagement, and help ensure colleague feedback informs meaningful action across the Group

Gender diversity

Driving balance and opportunity

We recognise that gender diversity remains an ongoing opportunity for improvement within our industry, and we are committed to improving gender balance across all areas of the business. Creating an environment that supports women to join, develop and progress is an important part of our wider commitment to diversity, equity, inclusion and belonging.

Across 2024 and 2025, the Zotefoams gender pay gap remained lower than both UK and industry averages and continued to show a gradual improving trend. Differences in average pay are largely driven by the distribution of men and women across roles and levels, with senior positions remaining predominantly male and a higher proportion of women represented in middle-level roles. To support continued progress, we are reviewing our reward framework to promote fair, consistent and market-aligned pay practices, alongside a continued focus on attraction, development and progression.

Flexible and blended working opportunities further support the attraction and retention of female talent, while increased female representation through recruitment and promotion into more senior roles during 2025 is expected to contribute to further improvement over time.

Transparency and data-led insight

We continue to actively review our gender pay gap data to support informed decision-making and strengthen our ability to attract, develop and retain female talent. This analysis provides valuable transparency and reinforces our commitment to fairness and equality.

By understanding variations in representation and reward across job levels, functions and career progression, we can identify targeted areas for action, support equitable and competitive pay for new female hires, and refine our promotion and succession planning processes. Ongoing review also allows us to assess the effectiveness of key policies and initiatives, supporting continuous improvement and building trust in Zotefoams as a fair and inclusive employer.

Developing female talent

Developing female talent remains a key focus across early careers, technical roles and leadership pathways. Our current graduate cohort is 80% female, reflecting the impact of our attraction and recruitment efforts.

Temi Ken-Afolabi NPI Portfolio Coordinator

Kaltrina Rahmani Business Analyst

Graduate Cohort gender split

Female 80%

Male 20%

During 2025, two female graduates successfully transitioned from the graduate scheme into permanent roles – one as NPI Portfolio Coordinator within New Product Introduction and the other as a Business Analyst within Information Technology. In addition, a female graduate who completed the scheme in 2022 was promoted in July 2025 to the role of Application Engineer, demonstrating the long-term impact of early career development and progression opportunities.

In the UK, several female colleagues were promoted during the year, strengthening female representation at more senior levels.

We also continued to support the future pipeline of female talent through outreach activity. Female Science, Technology, Engineering and Mathematics (STEM) graduates engaged with local schools to share their experiences and showcase the work of Zotefoams, helping to inspire and encourage young people to consider careers in STEM. Students were also welcomed into the business, providing first-hand insight into STEM careers and our working environment.

Leadership and representation

Visible leadership commitment remains essential to driving sustainable progress. During the year, we held several events and initiatives, including continued recognition of International Women’s Day as a platform to amplify female voices, celebrate achievements and encourage diversity of thought.

We have also redefined our Senior Leadership Team (SLT) community to become a more integral part of executing our strategy. This group of senior leaders now acts as an extension of the Group Executive Team, strengthening alignment with organisational purpose and strategy. Through increased collaboration and accountability, the SLT plays an important role in supporting inclusive leadership and ensuring progress on gender balance is embedded into how the business operates.

We recognise that progress requires sustained focus and commitment. By combining data-led insight, targeted development opportunities and visible leadership ownership, we continue to work towards a more balanced and inclusive workplace – where women can build long-term, rewarding careers at Zotefoams.

Workforce diversity profile

Gender

Male 72.6%

Female 27.4%

Ethnicity

White ethnicity 62.7%

Non-white ethnicity 37.3%

Age profile

Age 50 or above 70%

Age 50 or below 30%

Director

Male 71.4%

Female 28.6%

Group Executive Team

Male 71.4%

Female 28.6%

Direct report to Group Executive Team

Male 70.7%

Female 29.3%

	2025						2024
	Female	%	Male	%	Prefer not to say	%	Female	%	Male	%	Prefer not to say	%
Director	2	28.6	5	71.4	0	0	2	29.0	5	71.0	0	0
Board Fellow	0	0	0	0	0	0	1	100	0	0	0	0
Group Executive Team	2	28.6	5	71.4	0	0	3	37.5	5	62.5	0	0
Direct report to Group Executive Team	12	29.3	29	70.7	0	0	9	20.0	35	80.0	0	0
Other staff	170	27.2	454	72.8	0	0	163	31.0	368	69.0	0	0
Total	186	27.4	493	72.6	0	0	178	30.0	413	70.0	0	0
Number of senior positions CEO, CFO, SID or Chair)	1	–	3	–	0	–	1	–	3	–	0	–

Iona Williams Application Engineer

Senior Leadership Team gender

Male 75%

Female 25%

Inclusive recruitment practices

In support of our ambition to improve gender balance, we continue to strengthen our inclusive recruitment practices to attract a broader and more diverse range of candidates. This includes the consistent use of gender-neutral language in vacancy advertising and, where possible, the involvement of diverse interview panels. Together, these measures help reduce unconscious bias and support fair, consistent and objective recruitment decisions.

Colleague engagement and inclusion

During 2025, we further strengthened colleague engagement and inclusion through the launch of the Global Engagement Champions Forum. This initiative brings together colleagues from across the business to collaborate on actions that enhance the employee experience and ensure diverse perspectives are heard.

The forum provides a structured platform for colleague-led input and insight, supporting a more inclusive and consistent approach to listening, engagement and continuous improvement across the Group.

Sustained focus and continuous improvement

We recognise that improving gender diversity requires sustained commitment and deliberate action over time. By embedding inclusive recruitment practices, encouraging colleague involvement and maintaining visibility and accountability for gender balance at senior levels, we continue to progress towards a more balanced and inclusive workplace – where everyone has the opportunity to succeed and build a long-term career at Zotefoams.

Ethnicity distribution of Group workforce*

	Director	Number of senior positions (CEO, CFO, SID or Chair)	Group Executive Team	UK	USA	China	Poland	Spain	India	Other	Group-wide
White ethnicity	7	4	7	189	75	0	57	96	0	2	426
Non-white ethnicity	0	0	0	145	67	28	0	5	6	2	253
Total	7	4	7	334	142	28	57	101	6	4	679
Non-white ethnicity	0%	0%	0%	43%	47%	100%	0%	5%	100%	50%	37%

* This data depicts ethnicity make-up across the Group, noting that there are legislative differences across the globe.

Zotefoams is a global business operating across multiple regions, and our workforce reflects a broad range of ethnicities, cultures and backgrounds. We value the diversity this brings and recognise the important role it plays in strengthening collaboration, broadening perspectives and supporting innovation across the Group.

Sunil Achtar Internal Communications and Engagement Manager

Governance and accountability

The Board and Group Executive Team remain committed, as part of the ongoing cultural transformation of the business, to investing in learning and development to collectively harness the full potential of diversity, equity, inclusion and belonging. While progress has been made in building awareness and establishing clear governance and policies, we recognise that there is still work to be done.

During 2025, investment in dedicated Diversity, Equity, Inclusion and Belonging (DEIB) programmes was limited as the business prioritised the implementation of core people systems and foundational capabilities. With a global HR Information System now in place across the Group, we are better positioned to use consistent, high-quality people data to monitor representation, identify trends and inform future decision‑making.

Looking further ahead, we intend to increase focus and investment in targeted DEIB initiatives, using data‑led insight to support more effective interventions, track progress and strengthen accountability at leadership level. This approach will help ensure that future actions are proportionate, evidence-based and aligned with the needs of our diverse global workforce.

We continue to monitor the ethnicity profile of our workforce to deepen our understanding of representation across locations, job levels and functions. This insight supports informed decision-making and helps identify opportunities to strengthen fair and inclusive employment practices, while recognising that ethnicity profiles vary by geography and reflect local labour markets and communities.

Inclusive communication and cultural awareness

To strengthen connection and inclusion across our global workforce, we appointed a Group Internal Communications and Engagement Manager during the year. This role supports consistent and inclusive communication across the Group, ensuring that key messages are accessible, available in a range of languages, and reflective of the ethnic diversity of our workforce. This approach helps remove barriers to understanding and ensures colleagues across all locations feel informed, connected and included.

We have also introduced a Group-wide communications, development, engagement and wellbeing calendar that recognises local events, cultural celebrations and awareness days across our regions, alongside moments where we come together as one business. This has supported greater cultural awareness and shared experiences and has been brought to life through internal campaigns such as the Twelve Days of Festivities in the lead-up to the end of 2025.

In addition, we continue to use video content to amplify colleague voices across the Group. Where colleagues share messages in their native language, content is subtitled to ensure accessibility for all, while also recognising and valuing the languages spoken across our workforce.

Robust Group policies and internal controls are in place covering areas including health and safety, modern slavery, ethics, anti-bribery and corruption, anti-fraud, whistleblowing and dignity at work. The Group also maintains clear mechanisms for colleagues and other stakeholders to raise issues of concern.

To support awareness and consistent application of these standards, training is delivered globally to relevant colleagues, with materials provided in local languages where required. Looking ahead, we recognise the opportunity to further strengthen capability through cultural awareness training, and this is an area of focus for development during 2026.

By combining strong governance, inclusive communication and a continued focus on cultural awareness, we aim to create a workplace where colleagues from all ethnic backgrounds feel respected, supported and able to achieve their full potential.

Employee wellbeing

Supporting physical, mental and emotional health

The health, safety and wellbeing of our colleagues are fundamental to the way Zotefoams operates. We believe that supporting physical, mental and emotional wellbeing enables our people to perform at their best and contributes to a positive, resilient and high-performing workplace.

Global wellbeing initiatives

During 2025, we continued to strengthen our approach to wellbeing through a combination of Group-wide and local initiatives, supported by visible leadership commitment and active colleague involvement. In the United Kingdom, we launched the Westfield Health Cash Plan, providing colleagues with access to a broad range of health and wellbeing benefits and supporting early intervention and preventative care.

The Health Cash Plan enables members to claim cashback on everyday healthcare costs, including prescriptions, private consultations, physiotherapy and sports massage, subject to set limits. Colleagues also have access to a range of health and wellbeing services, including unlimited telephone or video consultations with a practising UK GP. The plan is designed to make healthcare more accessible and affordable, supporting colleagues to take proactive steps to manage their health.

A key milestone during the year was the delivery of our first Global Health, Safety and Wellbeing Day on 5 November. This Group-wide event brought colleagues together across locations to reinforce the importance of health, safety and wellbeing. Activities focused on building personal resilience, improving sleep quality, managing stress and promoting safe working practices. Colleagues participated in workshops, interactive sessions and practical demonstrations, including stress management toolkits, sleep clinics, manual handling guidance, and fire safety and defibrillator awareness sessions. Informal engagement opportunities throughout the day helped create a positive and inclusive wellbeing experience across sites.

The Global Engagement Champions played an important role in supporting wellbeing activities during the year. Acting as local advocates, they helped promote initiatives, encourage participation and gather feedback, ensuring that wellbeing support reflects the needs of colleagues across different locations and roles.

Mental health and early intervention

Supporting mental health remains a key priority across the Group. Colleagues have access to Employee Assistance Programmes, providing confidential support through a 24-hour helpline. These services offer counselling, bereavement support, and legal and financial advice, alongside a strong emphasis on early intervention through employee wellness plans, supporting effective returns to work and helping to mitigate the risk of long-term absence.

Wellbeing support is reinforced through targeted communications and posters, visible identification of Global Mental Health First Aiders, onsite occupational health support and health surveillance, and initiatives such as the Cycle to Work scheme.

During 2025, 28 colleagues in the United Kingdom completed Mental Health First Aid training. This capability was also extended internationally, with three colleagues in China, two in Poland and a further cohort in the United States undertaking Mental Health First Aid training during the year, strengthening local awareness and support across our global footprint.

Connection, environment and belonging

Connection and a sense of belonging are recognised as important contributors to wellbeing. During 2025, we launched ZoteMail, our new global internal newsletter, to improve consistency of communication, share positive stories and strengthen engagement across the business. We also enhanced working environments across several facilities through refreshed office branding, helping to create welcoming and engaging spaces for colleagues.

Team-building activities took place across the Group throughout the year, supporting collaboration and strengthening relationships. In China, colleagues from operations, production, sales, finance and HR came together in August for a team-building event that included shared meals, games, karaoke and traditional activities, helping colleagues feel connected, refreshed and energised. Similar local activities took place across other regions, tailored to local teams and cultures.

At Group level, the Group Executive Team launched the Living Brave – High Performance Teams programme during 2025, supporting leadership development and stronger team dynamics. This programme will continue into 2026.

We also introduced the Global Giving Something Back Day, providing colleagues with one paid day each year to volunteer individually or as part of a team in support of causes that matter to them. The initiative has seen strong engagement globally, with the Group Executive Team leading by example and local teams using volunteering as an opportunity to build connections while supporting their communities.

By taking a holistic, proactive and inclusive approach to wellbeing, Zotefoams continues to support the long-term health of its colleagues and create a workplace where people feel safe, supported and able to thrive.

Giving Something Back Days provide colleagues with dedicated time to support charities, community groups and causes that matter most to them.

Wellbeing support is reinforced through targeted communications and posters, and through visible identification of Global Mental Health First Aiders.

Communication and engagement

Strengthening global communication

Clear, consistent and inclusive communication is essential to engaging our colleagues, supporting our culture and enabling Zotefoams to operate effectively as a global business. Our approach focuses on ensuring information is accessible, timely and relevant, helping colleagues feel informed, connected and aligned with our strategy and values.

During 2025, we strengthened our internal communication capability through the appointment of a Group Internal Communications and Engagement Manager, providing dedicated ownership and coordination of Group-wide communication. This role supports consistency of messaging while recognising local context, with a strong focus on accessibility and inclusion. Key communications are delivered in multiple languages, reflecting the ethnic and cultural diversity of our workforce and supporting understanding across our global operations.

To support planning and coordination, we also introduced a Group-wide communications, engagement and wellbeing calendar. This enables alignment of activities across regions, recognition of local events and cultural celebrations, and the creation of shared moments of Group-wide engagement. The calendar also incorporates key development activity, including performance management milestones, helping to provide clarity, consistency and structure across the Group while strengthening connections between teams and locations.

Channels and accessibility

To support structured and effective communication, we launched ZoteMail, our global internal newsletter, providing a consistent platform for business updates, colleague stories and engagement activity. Internal distribution lists were restructured to ensure colleagues receive communications relevant to their role, location and function, improving clarity while reducing information overload.

We continue to use a range of channels to reach colleagues across different working environments. Communications, Development & Wellbeing Calendar 2026 screens are in place across office locations globally to share key updates and messages, while in China a new bulletin wall provides a dedicated and visible space for local communication and engagement.

For production teams, daily face-to-face briefings remain a critical communication channel. These sessions provide regular opportunities to engage directly with leaders and colleagues on health and safety, site‑specific updates, performance from the previous shift and plans for the day ahead. This routine supports alignment, reinforces safety and encourages open dialogue on the shop floor.

To strengthen familiarity and engagement, we introduced a Group mascot, Zote, which is used across internal communications to help bring messages to life and create a more approachable and consistent communication style. This has been supported by internal brand guidelines, ensuring a clear and recognisable visual identity across communication materials.

Two-way dialogue and engagement

Two-way communication remains a priority. Global town halls and local village halls provide opportunities for colleagues to hear directly from leaders, ask questions and engage in open dialogue, ensuring communication remains transparent, relevant and responsive at both Group and local levels.

The Global Engagement Champions also support effective communication by acting as local advocates, helping to cascade messages and providing feedback that informs how communications are developed and delivered.

By continuing to invest in inclusive communication channels, clear structure and accessibility, Zotefoams is building a communication approach that strengthens connection, supports alignment and ensures colleagues feel informed and included.

We enhanced working environments across several facilities through refreshed office branding.

During 2025, we launched ZoteMail, our new global internal newsletter.

Employee engagement

Listening, recognising and connecting

Employee engagement is central to the success of Zotefoams. We believe that engaged colleagues are more connected to our purpose, more committed to our values and better able to contribute to strong performance, innovation and continuous improvement across the business.

Engagement Champions

During 2025, we strengthened engagement through a range of initiatives designed to encourage involvement, recognise contribution and build connection across teams and locations. A key development was the launch of the Global Engagement Champions Forum. Made up of colleagues from across the business and representing a wide range of roles and functions, the forum provides a structured platform for sharing ideas, raising opportunities and collaborating on actions that enhance the employee experience.

The Engagement Champions play an important role in encouraging two-way dialogue, supporting local engagement activity and ensuring insights from across the Group help inform wider people initiatives. Their involvement strengthens ownership and helps ensure engagement remains relevant and meaningful at all levels of the organisation.

Recognition and reward

Recognition continues to play an important role in driving engagement. In 2025, we introduced the Zotefoams Values Awards, a global reward and recognition scheme designed to celebrate colleagues who demonstrate our core values of Courage, Impact and Respect. The programme empowers colleagues at all levels to recognise peers who go above and beyond, reinforcing the behaviours that support our culture and long-term success.

Employee feedback

Listening to employee feedback remains a priority. During the year, Zotefoams carried out its Global Colleague Engagement Survey in partnership with Best Companies, an independent organisation that measures and recognises employee engagement and workplace culture through its “b-heard” survey.

Engagement levels were strong, with a 78.8% response rate across the Group. Zotefoams achieved "One to Watch" accreditation, recognising strong foundations of employee engagement and a clear commitment to creating a positive workplace culture. In addition, pockets of the business achieved One Star and Two Star accreditation, reflecting very good and outstanding levels of engagement and wellbeing respectively.

78.8%

Engagement Survey completion rate

Zotefoams carried out its Global Colleague Engagement Survey in partnership with Best Companies.

Following the survey, structured action planning has taken place across the business, using colleague feedback to identify priorities and areas for improvement. A follow-up pulse survey will be conducted six months after the initial survey, with a further survey planned later in 2026. These insights will help track progress, inform future people initiatives and support continuous improvement.

Building connection and pride

Engagement is further supported through opportunities for connection and involvement across the Group. Global and local engagement activities, including Giving Something Back Day, encourage participation, teamwork and pride in being part of Zotefoams, while strengthening links with the communities in which we operate.

By investing in meaningful engagement, recognising contribution and listening to colleague feedback, Zotefoams continues to build a connected, inclusive and motivated workforce that supports long-term success.

Our performance management framework is built on our values and is designed to encourage colleagues to live them.

Performance management

A consistent global approach

Effective performance management is central to supporting individual development, driving high performance and aligning colleague contribution with executing our strategy. Our approach is designed to be fair, consistent and focused on continuous improvement, while reinforcing accountability and alignment with our values.

The Group Executive Team remains strongly committed to building high-performing teams across the business. As part of this commitment, Zotefoams has continued to invest in strengthening people processes, systems and leadership capability.

Enabling performance through systems

During the year, we introduced our new Group Human Resources Information System, UKG. Performance management is now delivered through this platform, providing a more consistent and user‑friendly approach across the Group. The system enables colleagues and managers to capture objectives, document performance discussions and refer back to previous conversations, supporting greater clarity, continuity and accountability over time.

Objective-setting and progress-tracking are managed within the platform, enabling clearer alignment between individual goals and business priorities and supporting more meaningful, forward-looking performance conversations.

To support effective adoption, a range of resources has been introduced, including guidance notes, workshops and video content. These materials are designed to build confidence – particularly for new people managers – and to encourage high-quality, constructive performance discussions.

Fairness, development and succession

The performance management process includes calibration to support consistency and reduce bias in performance assessment. Outcomes are aligned to Company values, reinforcing the importance of how results are achieved as well as what is delivered.

The process also supports the identification of high-potential colleagues and informs succession planning, helping to build future leadership capability and organisational resilience.

By continuing to develop a balanced, values-led and globally aligned approach to performance management, Zotefoams aims to support individual growth, strengthen leadership capability and build a high-performing organisation for the future.

Remuneration and benefits

Fair and competitive reward

The Group’s approach to remuneration and benefits is designed to align financial reward with Zotefoams’ purpose and values, supporting performance while promoting fairness, consistency and accountability. Our reward practices seek to recognise contribution, encourage the right behaviours and support the attraction and retention of talent across the business.

While some locations currently use market data to inform pay decisions, we recognise that further work is required to develop a more consistent global reward framework. Strengthening the overall construct, governance and alignment of reward practices across the Group is a key area of focus for 2026.

Pay and incentives

Zotefoams adheres to minimum wage requirements across all locations. In the United Kingdom, pay for entry-level roles considers the London Living Wage, while remuneration in the United States reflects recognised liveable wage standards. In Poland, India and China, pay levels are maintained above local minimum wage requirements. This approach supports responsible, compliant and competitive pay practices across our global footprint.

Bonus arrangements vary by location in line with local market practice and legislative requirements. However, they are consistently structured to promote performance, accountability and alignment with business objectives and Company values.

In response to ongoing inflationary pressures, salary reviews were implemented across several regions during the year to help ensure pay remains competitive and reflective of market conditions.

In the United Kingdom, employee remuneration matters are discussed through the Joint Consultative Committee (JCC), which provides a formal forum for dialogue between management and employee representatives. The JCC supports transparency, trust and constructive engagement. There is no union representation in Poland or the United States, with local consultation arrangements in place where appropriate.

Total reward and benefits

Alongside pay, pension provision forms an important part of the Group’s overall benefits offering. In the United Kingdom, Zotefoams encourages pension participation through competitive employer contributions, while in other locations colleagues are enrolled in government-backed pension arrangements in line with local legislation.

During the year, Global Human Resources completed a comprehensive review of the Group’s rewards and benefits offering. This review provided valuable insight into how benefits are structured across regions and where enhancements could deliver the greatest impact. As a result, benefit provision has been strengthened in locations where immediate needs were identified, and certain benefits have been broadened to support a wider group of colleagues.

At present, the primary focus of the Group’s reward approach remains on salary and bonus arrangements, ensuring pay is fair, competitive and aligned with performance. As we continue to develop our remuneration and benefits strategy, we will also review standard benefit offerings in each country relative to industry practice, supporting the development of a more consistent and competitive total reward proposition over time.

As this work progresses, our focus remains on creating a more aligned Group-wide approach, while retaining appropriate flexibility to reflect local market conditions and colleague needs. Through this balanced approach, we aim to ensure our rewards offering remains meaningful, sustainable and supportive of both colleague wellbeing and long-term business success.

Talent

Building capability for the future

2025 marked a year of meaningful progress in developing capability across the Zotefoams Group as we continue to build a globally aligned, high-performing organisation. Investment in our people remains fundamental to supporting operational performance, innovation and future leadership capability across all regions.

To support this focus, we appointed a dedicated Global Talent Acquisition Manager during the year, providing clear ownership of recruitment, workforce planning and talent development activity at Group level. This role has strengthened coordination across regions and helped drive a more consistent, data-led and strategic approach to building capability.

A key achievement during the year was strengthening our global workforce through effective recruitment and internal development. Since January 2025, we have made 157 job offers worldwide, including 33 internal moves and promotions. This reflects our commitment to developing talent from within and supporting colleagues to progress their careers at Zotefoams. Internal mobility has supported capability building across Operations, Engineering, Commercial, Innovation and Corporate functions, with colleagues stepping into more senior or specialised roles.

Enabling talent through systems and process

During 2025, we modernised our recruitment and talent processes through the global rollout of Teamtailor, our applicant tracking system. This replaced legacy and manual processes with a single, consistent and fully auditable platform used across all regions.

The system has improved the experience for candidates and hiring managers, strengthened compliance and significantly enhanced our data capability. Real-time insight into applications, sourcing performance, diversity, conversion rates and time-to-hire now supports more informed decision-making and improved workforce planning.

As part of this rollout, we introduced standardised, gender-inclusive job adverts using gender coding principles, ensuring recruitment language is neutral, accessible and aligned with best practice. We also refreshed the Foam a Friend global employee referral scheme, strengthening direct sourcing, increasing colleague engagement and encouraging employees to play an active role in attracting high-quality talent through their networks.

Early careers and emerging talent

Early career employees continue to play an important role in building future capability across the Group. Our Graduate Scheme provides structured rotational placements, offering exposure to multiple functions and sites and supporting the development of broad commercial and technical understanding.

During the year, graduates completed a dedicated leadership development journey designed to accelerate capability and prepare them for broader responsibilities within the organisation. In parallel, we continued to expand apprenticeship, internship and work experience opportunities across regions, supporting skills development across manufacturing, engineering, commercial and corporate disciplines.

We continue to leverage government-supported initiatives, including the UK Apprenticeship Levy, to facilitate accredited training. Looking ahead, there is opportunity to expand the use of these schemes beyond early careers to support the development and upskilling of colleagues across the wider workforce.

Learning, development and capability building

Personal Development Plans remain embedded across the organisation, providing a structured framework to support performance conversations, career progression and succession planning.

Jade Orvis Talent Acquisition Manager

Key training & learning initiatives

720hrs

of on-the-job training and assessment through Operator Cross-training

1,135hrs

of e-learning completed across the Group

12mths

English language development programme for Finance colleagues in China, blending video‑based learning and online tutorials with English-speaking tutors

These initiatives support both technical capability and broader professional development across regions.

Employer brand and engagement

During the year, we made purposeful progress in strengthening Zotefoams' employer brand across global markets. Through improved storytelling, more engaging content and increased presence on professional networking platforms, we have enhanced visibility and reinforced our position as a values‑led, international organisation.

This has supported both attraction and retention by clearly communicating our culture, career opportunities and growth ambitions.

Our approach

Across every region, our focus is on attracting, developing and retaining talented people who can contribute to Zotefoams' continued success. The progress made in 2025 reflects a more integrated, people-centred and data‑enabled approach to talent.

Through modern systems, strengthened processes, targeted development and a growing global talent pipeline, we are building the capability required to support future growth – while creating rewarding and sustainable careers for our colleagues.

Communities & Social Review

Making a positive impact

Zotefoams is committed to making a positive contribution to the communities in which we operate. Our approach focuses on encouraging colleague involvement, supporting meaningful causes and creating opportunities for our global workforce to give back in ways that reflect both local priorities and our shared values.

Global initiatives & partnerships

A key focus during 2025 was the continued rollout of Giving Something Back Days. This Group-wide initiative provides colleagues with dedicated time to support charities, community groups and causes that matter most to them. Global Engagement Champions play an important role in promoting the initiative locally, encouraging participation and helping teams identify opportunities to volunteer together. These activities strengthen community connections while also supporting team-building and colleague engagement across the business.

During the year, Zotefoams appointed UNICEF as its global charity partner following a Group-wide colleague vote. A range of charities were put forward for consideration, with UNICEF receiving the highest level of support – reflecting a shared commitment to supporting the wellbeing, safety and development of children and young people around the world.

To support the partnership, colleagues across regions took part in a wide range of fundraising activities throughout the year.

Local community engagement

Alongside global initiatives, local teams continued to lead community engagement activities aligned to regional needs and priorities.

In the United Kingdom, colleagues once again supported the Macmillan Coffee Morning, raising funds and awareness for people affected by cancer. The UK team also continued its support of the Giving Tree initiative in partnership with KidsOut, helping to provide gifts to children who have escaped domestic abuse or are living in refuge. This initiative has become an important part of the festive period, offering colleagues a meaningful way to support vulnerable children within the local community.

In the United States, teams delivered several locally led initiatives during the year, including seasonal donation drives to support families and individuals in need. Activities included gift collections for community programmes and pet food donations for local animal welfare organisations, reflecting a strong commitment to supporting both people and animals at a local level.

Across the Group, these activities demonstrate the positive impact that can be achieved when colleagues are empowered to support their communities. By combining global alignment with local ownership, Zotefoams continues to strengthen its social impact while fostering pride, connection and a shared sense of purpose among its people.

Our Giving Tree initiative, in partnership with KidsOut, provides gifts to children who have escaped domestic abuse or are living in refuge.