BlueScope Steel Ltd

The Risk and Sustainability Committee assists the Board fulfil its responsibilities in relation to risk management, ethics and compliance, legal proceedings, corporate governance, sustainability and insurance, including oversight of approach to Sustainability Reporting. [...] BlueScope's Speak Up line is available to all employees, contractors and others outside the Group who wish to report a concern or other grievance. All material breaches of the Code of Conduct, including material breaches of our anti-bribery and corruption policy and any material incidents reported under our Speak Up Policy, are reported to the Risk and Sustainability Committee quarterly.

We monitor and, where possible, encourage development of the enablers that underpin our 2050 net zero goal and climate strategy. In our FY2023 Sustainability Report, we published updates to these enablers to keep pace with the global transformation of iron and steelmaking technology and our increasing focus on DRI using natural gas as a transitional step ahead of the availability of affordable green hydrogen at scale – particularly for Port Kembla Steelworks. Making progress on these enablers depends on collaboration and advocacy with many stakeholders, including global mining, steel, energy, building and construction, and financial and government representatives, to work towards the transformational changes required. [...] Our Industry Associations Governance Standard details membership principles, and processes to assess the alignment between the public policy positions of the industry associations and BlueScope's positions. Each year, we report the findings of this assessment, including in relation to climate change and energy policy, to the Risk and Sustainability Committee (RSC) of the Board. Since the introduction of the standard, we have not identified significant gaps in alignment.

###### Public policy and advocacy
BlueScope takes a bipartisan approach to political discourse in all jurisdictions where it operates, focusing on relevant policy matters. We do not endorse candidates for office, or the election (or re-election) of particular political parties. The Company will, however, take public positions in support of or opposition to policies, legislation and regulations that could have a significant effect on its operations or financial performance, including from time-to-time seeking amendments to such policies. We will also meet with ministers, MPs and officials for the purposes of informing them about the Company and its views on such policies.

The Company's policy allows it to pay admittance or membership fees for the purpose of attending a briefing, or to have a dialogue with political figures to debate policy issues that may affect BlueScope. This includes payment to attend events organised or hosted by a political party or an organisation associated with a political party. The Company spent $115,000 on such activities in FY2024.

BlueScope belongs to various industry associations in many countries where we operate. Most are professional or technical associations, such as those supporting employee career development, or the development of industry standards. Several memberships allow BlueScope to take positions on, and participate in, consultation on developing public policy, including in relation to climate change and energy, environment, treasury, trade and industry policy. We participate in these associations to be better informed and contribute our views and experience about public policy that may affect the Company.

Our Industry Associations Governance Standard details the principles that guide our membership and how we assess alignment between the public policy positions of the industry association and BlueScope's position. An annual summary of these assessments is reported to the RSC. Since BlueScope is an Australian public listed company, the yearly assessment includes Australian industry associations, while the industry memberships outside Australia are managed by the relevant regions. The latest assessment of Australian memberships conducted in 2024, did not find any material differences or conflicts in policy positions between BlueScope and the main industry associations of which it is a member.

**Our Industry Associations Governance Standard is**
**available at** **[Ethics and Compliance (bluescope.com)](https://www.bluescope.com/our-company/ethics-compliance)**

Our Industry Associations Governance Standard details the principles which guide our membership, and how we assess alignment between the public policy positions of the industry association and BlueScope's position as stated in public documents. An annual summary of these assessments is reported to the Board's RSC. The latest assessment of Australian memberships, conducted in 2023, did not find any material differences or conflicts in policy positions between BlueScope and the main industry associations of which it is a member, namely: - Australian Industry Group (AiGroup) - Australian Industry Greenhouse Network (AIGN) - Australian Steel Institute (ASI) - Business Council of Australia (BCA) - Energy Users' Association of Australia (EUAA) - Manufacturing Australia (MA) - Australian Aluminium Council (AAC). **Our Industry Associations Governance Standard is available at** **[bluescope.com](https://bluescope.com)**

BlueScope belongs to various industry associations in many countries where we operate. Most are professional or technical associations, such as those supporting employee career development, or the development of industry standards. Several memberships allow BlueScope to take positions on, and participate in, consultation on developing public policy, including in relation to climate change and energy, environment, treasury, trade and industry policy. We participate in these associations to be better informed and contribute our views and experience about public policy that may affect the Company. Our Industry Associations Governance Standard details the principles that guide our membership and how we assess alignment between the public policy positions of the industry association and BlueScope's position. An annual summary of these assessments is reported to the RSC. Since BlueScope is an Australian public listed company, the yearly assessment includes Australian industry associations, while the industry memberships outside Australia are managed by the relevant regions. The latest assessment of Australian memberships conducted in 2024, did not find any material differences or conflicts in policy positions between BlueScope and the main industry associations of which it is a member. **Our Industry Associations Governance Standard is** **available at** **[Ethics and Compliance (bluescope.com)](https://www.bluescope.com/our-company/ethics-compliance)**

The Board actively manages the risks and opportunities associated with climate change for our company and our stakeholders through integration with our corporate strategy and robust governance and risk management frameworks. [...] The Board will oversee the execution of the measures outlined, and the financial management and capital allocation required to support implementation. [...] Climate change is recognised by our Board and across the business as a key strategic issue requiring strong governance, clear accountabilities for oversight and implementation of our commitments. [...] Since 2019 and in line with our remuneration strategy, we have linked senior executive incentives to performance objectives relating to our climate strategy and our Steelmaking Target. [...] Our Board, with the assistance of its committees, including the Risk and Sustainability Committee, oversees all climate-related matters, while day-to-day accountability rests with BlueScope's Executive Leadership Team (ELT), the Chief Executive Climate Change and management. [...] BlueScope's Climate Change Council oversees the development and implementation of our climate strategy and associated work programs and provides input and recommendations to the ELT and the Board. [...] The Board engages in bi-annual climate strategy updates, at a minimum, including review of progress made towards our targets, decarbonisation pathway, and external collaborations and partnerships. [...] The Risk & Sustainability Committee (RSC) assists the Board to fulfil its responsibilities in relation to the oversight of climate change risks. The RSC engages with bi-annual updates on climate risks (including any associated monitoring and mitigation approaches where relevant) and sustainability disclosures, while updates of performance against emission intensity targets are discussed on a quarterly basis. [...] At Board level, the Chair of the Board, supported by the Chair of RSC, has ultimate responsibility for overseeing BlueScope's approach to climate change action. [...] BlueScope's ELT is responsible for reviewing progress made against the climate strategy, and associated governance processes and procedures for the Group, and receives quarterly updates (at a minimum) from the Climate Council. [...] In FY2021, BlueScope's Climate Change Council (referred to as 'Climate Council') was established to oversee the development and implementation of our climate strategy. Comprising of senior leaders from across the Group including business unit and functional representatives, the Climate Council fosters whole-of-business collaboration, promotes cross-business unit and cross-function discussions, and drives innovation. [...] The full Climate Council meets at least six times a year and has six focus groups that meet regularly to help coordinate path-critical areas of our Climate Strategy. [...] In FY2020 we published an Industry Associations Governance Standard. The Standard details the five principles that guide our membership of industry associations, and the processes by which we assess alignment between the public policy positions of the industry association and BlueScope's position as stated in public documents. [...] The Standard requires that, at least once a year, a nominated BlueScope representative (or delegate) will assess the public policy positions taken by industry associations on matters of significance to the company, specifically: health, safety and environment; climate change and energy; people and workplace relations; trade and industrial policy; and taxation and economic policy. High level outcomes of the annual assessment will be documented in our sustainability reporting or on our website.

Our Board, with the assistance of its committees, oversees all climate-related matters, while day-to-day accountability rests with management. BlueScope's Climate Change Council oversees the development and implementation of our climate strategy and associated work programs and provides input and recommendations to the Executive Leadership Team, and the Board. [...] BlueScope is committed to transparent and responsible engagement with governments. This includes engagement to support and advocate for policies and regulations that encourage sustainable development and economic growth. Our government engagement activities are guided by Our Bond and our Political Contributions Standard. We actively participate in consultations and collaborate with industry associations to advocate for policies that align with our decarbonisation enablers, support the long-term interests of our business, and the broader industry.

BlueScope's Climate Change Council oversees the development and implementation of our climate strategy and associated work programs and provides input and recommendations to the ELT and the Board. Read more in our Climate Action Report, available on our website. [...] In FY2020 we published an Industry Associations Governance Standard. The Standard details the five principles which guide our membership of industry associations, and the processes by which we assess alignment between the public policy positions of the industry association and BlueScope's position as stated in public documents. An annual summary of these assessments is reported to the Board's RSC. [...] Based on our most recent assessment, we do not believe there are any material differences between BlueScope policy and the policy positions of the six key industry associations in Australia that we belong to.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes