6Cicor as an Employer

GRI 2-7: Employees
GRI 2-8: Workers who are not employees
GRI 2-23: Policy commitments

6.1 Attractive and Responsible Employer

GRI 3-3: Management of material topics
GRI 2-30: Collective bargaining agreements
GRI 401: Employment 2016

The Company’s corporate culture constitutes the foundation of its success. The well-being, rights, and development of the Company’s workforce is fundamental. Cicor’s values, fosters employee engagement, and drives ethical decision-making across all levels of the business. Cicor’s social impact is integral to the Company ambition to create a safe, appealing and meaningful workplace for its employees. In this section, Cicor takes a thematic approach to the sustainability topics identified in the Company’s materiality assessment.

Cicor’s workforce policies and practices directly influence the lives of its employees, their families, and the communities in which the Company operates. Workforce-related risks can have significant financial implications, including employee turnover, legal and compliance risks and operational inefficiency. Through targeted policies and programs, Cicor addresses social standards for the Company workforce. By prioritising the social well-being of Cicor’s workforce, Cicor contributes to long-term value creation for the organisation, while fostering a supportive, innovative, and resilient workplace. This commitment not only reduces risks but also enhances employee satisfaction, loyalty and overall performance.

As a company operating in a market that continues to grow with digitalisation and automation, Cicor offers stable jobs and a healthy working environment. The Company places significant emphasis on creating value for its employees in order to maintain a talented workforce and attract new employees to satisfy its needs as a growing company. Cicor has developed a workforce strategy to counter the shortage of qualified specialists on the labour market, a major challenge for the entire industry. This increases the Company’s competitiveness and resilience, both in the labour market and at site level, and counters knowledge loss by reducing employee turnover. It is at the heart of Cicor’s workforce strategy to improve its employees’ capabilities and maximise their potential. Furthermore, Cicor recruits from diverse backgrounds to ensure a constant flow of new ideas, creativity, and experience, striving to cultivate a competent workforce with the ability to innovate, respond to change and build on opportunities. The workforce strategy is set out in internal documents that stipulate strengthening Cicor’s attractiveness as an employer by implementing in particular the following concepts:

• Structured integration programs for new employees,
• promotion of employees’ individual professional development,
• flexibility through openness regarding working hours and workplace,
• the option of remote office work,
• attractive and fair salaries.

The Vice President Human Resources oversees the Company’s employee-focused policies, reporting directly to the Group Management Team. This ensures that the Company’s practices comply with international labour standards and local regulations, driving continuous improvement in the Company’s human resources strategies. Additionally, the Company’s Employee Code of Conduct adheres to the standards of the International Labour Organisation (ILO) conventions and national employment laws.

These include:

• Fair wages that meet or exceed the legal minimum wage
• Equal opportunity for all employees regardless of gender, age, ethnicity, disability, or background
• Freedom of association and the right to collective bargaining

The individual Cicor sites endeavour to support and enhance the Cicor strategy. To measure annual progress and evaluate potential further improvements, local employee surveys have been conducted at multiple Cicor sites, including Reinhardt Microtech AG (Wangs, Switzerland), Cicor Deutschland GmbH (Dresden, Germany) and Axis Electronics Ltd. (Bedford, United Kingdom). Initial implementation of a group-wide employer branding strategy kicked off with the 2024 update on the reporting structure. This included an early identification of relevant indicators for this year’s social own workforce reporting, which is in line with the results of the DMA, and aims to strengthen the Company’s employer branding approach. All indicators were defined and documented in the Cicor Social Own Workforce Reporting Guideline. All Cicor entities in the scope of this year’s social own workforce reporting received a questionnaire to report data accurately as of 31 December 2024. As a further step, the approach included an assurance call with all Cicor sites in scope, aiming to ensure accurate data reporting and the closure of gaps at an early stage.

Starting from 2025, Cicor plans to internally report social own workforce data every six months on the full data scope, as this data is a substantial part of the Company’s approach to being an Employer of Choice. The Company will further align its social indicators over the course of 2025. This also includes a group-wide initiative of an employee pulse survey on Cicor’s core values. Further, an updated People Management Guideline for local HR Leaders is planned to be shared, with the aim of creating an aligned journey forwards for all Cicor entities.

As a consequence of efforts to provide attractive working conditions, the corporate collection of employee data reveals that the Cicor employee growth rate, excluding M&A, totalled 9%. Additionally in 2024, 20% of employees joined Cicor as part of its active acquisition strategy. With the integration of Cicor MedTec Bucharest Srl (Romania), Cicor Dongguan Co. Ltd. (China) as well as Cicor Newport Ltd, Cicor Hartlepool Ltd and STS Defence Ltd (United Kingdom) approximately 500 employees became part of Cicor. These sites are already reflected in this year’s report. Nordic Engineering Partners, who joined Cicor Group in November 2024, will be reflected in the 2025 Sustainability Report after full integration. The total 3 318 employees (headcount) were counted across the Cicor sites in the scope of this year’s Sustainability Report. Across its workforce Cicor has a reasonable distribution pattern across gender and age groups, with 47% of its employees covered by a collective bargaining agreement. Cicor does neither employ workers with non-guaranteed hours contracts nor control business activities of any workers which are not in an employment relationship with the Company.

6.2 Equal Treatment and Opportunities for All

GRI 3-3: Management of material topics
GRI 405: Diversity and Equal Opportunity 2016

Cicor is committed to creating a diverse and inclusive workplace. The Company focuses on eliminating discrimination, ensuring equal opportunities, and promoting diversity at all levels of the organisation. For the 2024 sustainability reporting, the Company has an updated structure along workforce categories, providing insights into the Company’s diversity structure, but also pointing out the importance of equal treatment and opportunities as part of the Cicor culture. The workforce categories have been divided as shared below:

• Cicor Group Leadership Team: A defined group of leaders along different categories and regions who support the Cicor journey forwards by evaluating and supporting the strategy decisions and processes.
• Local Management Team: Defined as the local management team at each Cicor entity, namely team leaders who aim to decide local entities’ journey.
• Indirect Workforce: Indirect workforce includes all labour not directly engaged in converting raw material into finished products, such as employees in Engineering, Human Resources, Sales or Finance.
• Direct Workforce: Direct workforce refers to roles or tasks that are expressly involved with the production of goods.

2 289 of the Company’s employee are linked to the Direct Workforce which equals in 69% of the workforce. 1 029 employees (31%) define as Indirect Workforce. The Cicor Leadership Team currently consists of 23 employees from multiple regions. 17% of the Cicor Leadership Team members are female. The Local Management Teams have a total headcount of 168 employees, including 43 females.

Indeed, the Company has a balanced ratio between female and male in its workforce. In 2024, women represented 52% of the Company’s employees, with 26% of female employees making up part of the Local Management Teams across Cicor sites. Cicor’s commitment to a diverse workforce is also reflected in its highest body, the Board of Director. With 50% of members of Board of Directors as female it plays an exemplary role on the Company’s diversity structure. The diversity of the Board of Directors as well as the Executive Committee is shown in detail in the Corporate Governance Report.

The workforce structure and contract type is also shown by regions and nationality. The Company’s employee structure results in a wide range of nationalities reflected. The Cicor Leadership Team consists of 7 different nationalities. The nationality structure also reflects the Company’s footprint, with the largest Cicor sites located in Indonesia (18%) and Romania (18%). Additionally, the Company’s footprint with its sites in the United Kingdom (17%) is reflected. This also reflects the fact that most Company employees are hired locally, which shows the Company’s impact on local communities in generating a valuable workplace.

As of this year’s reporting, the Company has also evaluated its workforce structure along regions. As to the Company’s footprint, sites were added to the regions Europe and Asia, as shared in the following:

Overall, the Company has a very balanced gender ratio between female and male, with the highest level of female workforce in Asia with 64%, and the lowest rate in Switzerland with 41%. Combining the European Regions to include United Kingdom, Switzerland, Germany and Romania, the Company has 64% of its workforce based in Europe.

During 2024, the gender pay gap was defined as the difference in average pay levels between male and female employees. Across its entire workforce, Cicor currently shows a gender pay gap of 14%. As the Company operates in countries with materially different salary levels, comparison across regions can be difficult, as can setting specific targets. However, it is shown that the gender pay gap in general is comparable across the Company’s regions and workforce categories; the company has a low gender pay gap level in comparison with local averages shared by the International Labour Organisation.

Similar to the diverse regional structure, the Company has an unchanged age structure compared to previous years. The main group of employees is aged between 30 and 50. Cicor’s social strategy for the years ahead shall support the Company’s aim to create a more diverse age structure by improving its talent management and creating a stronger employer brand, influencing the age diversity by improving the percentage in order to become even more balanced.

6.3 Fair Hiring Policy

Cicor has been making continuous efforts to promote a diverse and inclusive workforce and combat discrimination. According to Cicor’s values, employees must be recruited based solely on merit, namely their skills, experience, and ability to perform the job, regardless of age, race, gender, religion, marital status, family responsibilities or disability. By hiring fairly and based on merit, Cicor has access to a wide pool of candidates for vacancies. Creating an opportunity for all is reflected with the Company’s 28 employees sharing a certificate of disability.

6.4 Training and Skills Development

GRI 3-3: Management of material topic
GRI 404: Training and Education 2016

Employee development is an underlying priority throughout the Cicor Group. Most locations have aligned training with corporate objectives to minimise the risk of losing technological competitiveness. This enables Cicor to keep pace with emerging trends in the field of high-tech development and production. As qualified employees are crucial to the Company’s success, focusing on employee development ensures know-how is retained and implemented across new projects. Cicor is also aware that employee development increases its versatility and its ability to function as a flexible and agile company. The Company further looks to spread specific expertise more widely across the organisation to achieve improved resilience to employee fluctuation. This will help Cicor fulfil business requirements and enable employees to get involved in different areas of the company and expand their skills. With this business strategy focusing strongly on employee development, Cicor not only generates value for itself, but also contributes to a competent workforce in the labour market.

6.5 Retaining and Broadening Knowledge

GRI 3-3: Management of material topic
GRI 205-2: Communication and training about anti-corruption policies and procedures
GRI 404: Training and Education 2016

Cicor is aware that the demands on its employees are increasing and that regular training and broad knowledge in diverse disciplines is necessary. This is most apparent in the fields of medical technology and aerospace & defence, though also relevant in other regulated areas. Staff are retrained each year in the tasks they currently perform to refresh their knowledge and update their skills. The Company also offers training programs for all internal processes. In 2024, all sites were part of a basic Compliance assessment as part of the ESG Scoring approach. During a two-day training session, the local management teams were introduced to a wide range of compliance topics. Additionally, at the Wangs and Ulm sites, for example, workshops on compliance topics were offered to new and current employees, accompanying regular yearly sessions for professional updates. Furthermore, the Company shared virtual online training on basic compliance and business ethics, customer due diligence, responsible supply chain management and compliance on substances and minerals of concern. Seeking to generate flexibility, Cicor further trains its staff on different activities by offering a number of cross-functional training courses. In Arad and the Bedford production site for example, employees are trained for various activities and processes outside their current field of activity. Further the Company held workshops for project management with 36 employees joining to expand their knowledge on how to manage important projects. Additionally, the Company financially supports external courses where new skills would reinforce employees’ capabilities within their roles. The Company also institutionalised the exchange of individual employees amongst specialist areas in manufacturing, helping identify talents and promote wide-ranging expertise.

The Company’s employee development efforts are evaluated through regular internal and external audits. Beyond the boundaries of the organisation, some departments of the Company provide training resources for students in particular activities related to electronics production and development. Additionally, when in alignment with the Company’s current needs, Cicor subsidises technical college education and postgraduate degrees.

As a company Cicor aims to further develop the training structure on a regular basis. Cicor plans to further strengthen and update its training structure on specific sustainability topics in 2025, including environmental training for related risk topics along the value chain from a sustainability perspective, and training on business ethics topics such as understanding cultural differences across regions, with specific online training or videos in different languages.

6.6 Promoting Future Leaders

GRI 3-3: Management of material topics
GRI 403-5: Worker training on occupational health and safety
GRI 404: Training and Education 2016

Cicor further recognises that employee development is key to motivate its workforce – employees tend to remain with a company that values them and helps them grow. To improve management around this topic, leadership instruction is also provided to medium and lower management levels. Cicor’s human resources and department managers create yearly employee development plans, taking into account goals identified in annual staff reviews, while also promoting overall employee development across the board. Across the entire company, employees are given equitable opportunities to be considered for training and development based on their abilities and needs, helping them reach their full potential. In 2024, 58% of Cicor employees received career development reviews. The total of reviews increased by 11% compared to 2023 (52%). As a key initiative in 2025 Cicor aims to create a network of subject matter experts as part of its global network aiming to create opportunities for talents and future leaders.

6.7 Health and Safety

GRI 3-3: Management of material topic
GRI 403-1: Occupational health and safety management system
GRI 403-8: Workers covered by an occupational health and safety management system

Ensuring a safe and healthy workplace is a key priority at Cicor. The well-being of the Company’s employees, addressing both physical and mental health, and adhering to broader sustainability and governance expectations, is being emphasised in the company organisation. Cicor’s commitment to continuous improvement in workplace health and safety practices considers employee welfare a key component of social sustainability. The Company’s workplace health initiatives extend to preventive care, including on-site health screenings (e.g., blood pressure checks, vision tests), vaccination programs and awareness campaigns on flu prevention, support for non-smokers and promotion of healthy lifestyle choices, and workshops on the topics of nutrition, work ergonomics or dealing with back issues.

In most countries, high legal requirements are placed on protecting employees with regard to health and safety. Societal expectations regarding these issues have also grown considerably in recent decades. Therefore, active management of the topic is required to avoid the consequences of non-compliance with the respective laws and expectations. In addition, illness and accident-related absences jeopardise any company’s productivity. Thus, from an internal perspective as well, the workforce’s occupational health and safety is of the utmost importance to the Cicor Group. This includes the health and safety of Cicor’s employees, as well as visitors.

The Company is committed to creating a safe working environment and recognises that caring for the health and safety of its staff will not only help it retain its workforce, but also offer a more attractive working environment for potential employees. Risks and hazards are identified and controlled using operational health and safety documentation, including specific work instructions, training, and clarification of special personal safety equipment to be worn. Cicor’s health and safety practices include preventing exposure to hazardous substances, mandatory checks on air, water, noise and lighting, verification for special equipment such as pressure tanks, lifters, and cranes, as well as fire detection and fighting.

6.8 Effectiveness of Health and Safety Management

GRI 403-9: Work-related injuries
GRI 403-10: Work-related ill health

Cicor monitors its management of occupational health and safety by means of internal audits and specific indicators. Regular assessments include health and safety incidents, occupational illness occurrence, internal health and safety non-conformities, rate of adherence to legal requirements, occupational accidents, hazards spotted, and hazards treated. Zero fatalities were recorded over the last 3 years. Work-related injuries/accidents (definition: see table in chapter 6.9) remained at a low level in 2024 (3.4 accidents/1 000 employees). However, the 2024 reporting shows that accidents have been more severe in relation to the lost work-days per accident; on the other hand, there has been a drop in the lost workdays, particularly in comparison to Cicor’s total workforce.

6.9 Comprehensive Health and Safety Approach

GRI 403-2: Hazard identification, risk assessment, and incident investigation
GRI 403-3: Occupational health services
GRI 403-4: Worker participation, consultation, and communication on occupational health and safety

Cicor’s strives to achieve zero working accidents or occupational illnesses. The Company aims to supply every necessary means and resources to ensure its collaborators’ and contributors’ health and safety. Besides adhering to applicable government health and safety laws and regulations, Cicor’s own health and labour safety policy, quality and environment standard operating procedures, health and safety programs, as well as production safety officers support careful occupational health and safety management. On a decentralised level, most sites have a safety committee and a chairman appointed by management to oversee safety aspects. Moreover, at some sites, an additional health and safety task force has been set up. To further engage employees’ commitment to occupational health and safety and continue engagement around the topic, the workers’ union is part of the health and safety committees. The responsibility for maintaining health and safety across the Company falls to the quality department, maintenance department and HR. However, each and every collaborator and contributor has a duty to support and advocate for all health and safety measures. Risks and hazards are identified and controlled throughout operational health and safety documentation, including specific work instructions, training, and clarification of special personal safety equipment to be worn.

6.10 Health and Safety Training

GRI 403-5: Worker training on occupational health and safety

Cicor believes occupational health and safety can be maintained and improved through communication, training and awareness. The Company engages an external safety consultant, organises staff training, issues protective equipment where necessary, arranges regular occupational health and safety meetings, and provides a medical service for its staff. Employees have the opportunity to receive periodic medical consultations from an external company contracted by Cicor. As required by each site’s individual safety guidelines, all new staff are given a safety orientation, daily safety inspections are conducted, and general awareness is imparted through yearly safety training. The companies also run health and safety campaigns locally. Health and safety incidents are noted in the “dangerous situations and hazards report”, and each record is analysed and treated as part of a continuous improvement action plan. Other sites have established workshops for specific health and safety and employee well-being topics. For example, Reinhardt Microtech AG (Wangs, Switzerland) held five health workshops on the topics of ergonomics, nutrition and movement.

6.11 Emergency and Safety Strategies

GRI 403-6: Promotion of worker health
GRI 403-7: Prevention and mitigation of occupational health and safety impacts directly linked by business relationships

Trained first aiders and/or safety managers, as well as one defibrillator, are in place at each site, and simulations are carried out to ensure emergency preparedness and response. In Arad, internal health and safety committee meetings are held every six months, giving employees an opportunity to report dangerous situations and involving them in implementing and developing the health and safety management system. Employees can also use a suggestion box as needed to report hazardous circumstances. In Batam, an escalation chart is available for reference if an unsafe situation emerges. When an abnormal situation is identified, employees can then feed this information back to the Safety Officer. Furthermore, the Batam site also offers instruction on personal protective equipment (PPE). Cicor’s comprehensive health and safety measures have created the basis for the certification of the production sites in Arad, Batam, and Boudry according to ISO 45001. The Cicor site in Newport plans to receive ISO 45001 certification in 2025.

6.12 Community Engagement

GRI 3-3: Management of material topics
GRI 413-1: Operations with local community engagement, impact assessments, and development programs

Cicor recognises the importance of fostering positive social, economic, and environmental impact within the communities where Cicor operates. Cicor supports communities as a Group or locally with initiatives across its entities. As part of internal assessments community needs are evaluated and targeted initiatives are aligned on each Cicor entity aiming to support its local communities.

In 2024, a total of 39 initiatives where shared along Cicor Group. These initiatives include a variety of charitable causes and sponsorships along all regions including:

Supporting health and solidarity at the Swiss Women’s Race

Employees from Cicor Group sites in Boudry and Bronschhofen participated in the Swiss Women’s Race ("Frauenlauf") in Bern, demonstrating their commitment to health and community engagement. Beyond promoting an active lifestyle, their participation contributed to an important cause. The entry fees, covered by Cicor, will support a foundation dedicated to breast cancer awareness and providing assistance to those affected by the disease.

Cycling for a cause: Extra Miles Challenge

Employees from Cicor Group sites in the UK took part in the Extra Mile Challenge, a relay cycling event covering 1 000 miles through the Loire Valley in France. The participation of Team Axis Electronics and Team STS Defence, both representing Cicor, supported various charitable causes, with the teams raising over CHF 11 000.

Cicor Vietnam supports mothers and children in need

The Cicor Vietnam team dedicated a day to supporting a local shelter that provides care for expectant mothers and over 80 orphaned children. The team provided financial support, essential supplies such as food and medicine, and organised engaging activities for the children.

Cicor Bronschhofen supports Ostschweiz hilft Ostschweiz

The Cicor site in Bronschhofen has contributed CHF 17 500 to "Ostschweiz hilft Ostschweiz", an independent initiative dedicated to providing financial assistance to individuals and families in Eastern Switzerland who are facing hardship and do not qualify for official support. The organisation collects donations primarily during the holiday season to help those who have fallen through the social safety net. By offering direct aid to people in need, Ostschweiz hilft Ostschweiz not only provides financial relief but also sends a message of solidarity and hope to those facing difficult circumstances.