Statement on modern slavery and transparency in supply chains

– Statement for the Fiscal Year 2024/2025 –

This statement addresses the fiscal year 2024/2025 from 1 July 2024 to 30 June 2025, in accordance with the United Kingdom Modern Slavery Act 2015.

The statement is issued on behalf of PARI Medical Holding GmbH and all its affiliates, particularly PARI Medical Ltd., registered in England, Company Registration Number 02937493, registered Office Address 5 New Street Square, London, EC4A 3TW (“PARI”, “we”).

1. Introduction

PARI is driven by a deep commitment to ethical conduct and responsible business practices that goes beyond mere legal compliance. As a privately owned life-science company, we actively choose to uphold high standards across our global operations, guided by our values and principles. This includes a strong stance against modern slavery and human trafficking. Our actions are not driven by legal obligation but by conviction: although we are currently not subject to the reporting requirements of the German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz), we proactively implement responsible supply chain practices because we believe it is both right and necessary.

2. Our Business and Organizational Structure

PARI was founded in 1906 in Wuppertal (Germany) and has developed over its more than 100-year company history from a small manufacturing business into a globally recognized specialist in respiratory therapy. Today, the independent and private-owned company is headquartered in Starnberg. Several business areas are organized into subsidiaries under the umbrella of PARI Medical Holding GmbH and are complemented by international subsidiaries and a global distribution network.

3. Our Supply Chains

PARI sources goods and services from a range of countries. Some of these regions are considered high-risk in terms of modern slavery and human rights violations, such as China.

To ensure our global corporate social responsibility we established our PARI Supplier Code of Conduct. We expect our suppliers to strictly adhere with the PARI Supplier Code of Conduct in order to maintain ethical standards comparable to our own.

Our supply chains are multi-tiered, involving direct and indirect relationships with suppliers, subcontractors, and service providers. We maintain long-term partnerships with our suppliers and encourage transparency, including the involvement of trade unions and other worker representation bodies where applicable.

Suppliers provide a variety of products and services, including raw materials, manufacturing services, logistics and IT support, which are used either directly in our operations or indirectly through upstream production processes.

4. Our Policies Concerning Modern Slavery and Human Trafficking

We have established policies that hold our employees and contractors accountable for complying with anti-slavery and human trafficking standards. These policies are reflected in our PARI Code of Conduct and our PARI Supplier Code of Conduct.

Under this, suppliers agree to adhere to national and international Standards regarding human rights and the environment, as well as other compliance requirements. This includes in particular:

• The employees must be treated with dignity and respect, regardless of their ethnic origin, sex, social status, nationality, beliefs or sexual orientation. The internationally applicable human rights must be observed and applied at all times;
• The statutory labour rights of the employees must not be violated;
• The employees must be paid fairly and commensurately with performance. The Payment should be at least equal to the wage structure that normally applies in their respective countries, or if a statutory minimum wage rate exists in the country, this must be observed without exception;
• Employee protection must be assured. Any potential threat to the safety and health of the employees must be eliminated or at least minimised by the implementation of appropriate measures. Moreover, steps should be taken to improve the safety of the employees if possible and promote their health. In this respect, all laws and regulations applicable in the respective country must be observed;
• PARI will not tolerate any use of forced or child labour. The provisions of conventions 105 (Abolition of forced labour), 138 (Minimum age for admission to employment)and 182 (Worst forms of child labour) of the International Labour Organization (ILO) are imperative.

PARI has established a whistleblower and complaint procedure in accordance with the German Whistleblower Protection Act (Hinweisgeberschutzgesetz) through which (potential) violations of human rights, environmental, health and occupational safety regulations as well as other serious breaches can be reported. Reports may be submitted anonymously through an independent third-party ombudsman service. All reported concerns are subject to thorough investigation. Appropriate remedial actions are taken where necessary.

5. Our Due Diligence, Risk Assessment and Risk Management in Relation to Modern Slavery and Human Trafficking

We actively work to prevent and reduce risks of modern slavery and human trafficking:

• We analyse the risks within our own business and our supply network based upon the industry in which we operate and the geographical locations in which we conduct business;
• Regular assessment of suppliers; including screening for high risk and/or potentially sanctioned business partners;
• We conduct risk assessments of our existing and potential partners using a number of factors (e.g. abstract risk level, expected spend);
• Contractual obligations: We integrate human rights and anti-slavery requirements into supplier contracts by obliging our suppliers to comply with our Supplier Code of Conduct.

6. Our Effectiveness

We continuously evaluate and enhance the effectiveness of our measures to prevent modern slavery and human trafficking within our operations and supply chains. These measures are reviewed on a regular basis – annually and, when necessary, on an ad hoc basis – and adjusted as required.

The review process takes into account findings from previous risk assessments, whistleblower reports, complaints procedures and critical media monitoring.

7. Our Trainings

We provide training sessions for our employees on ESG topics, with a particular focus on human rights. Trainings are designed to raise awareness of modern slavery risks, fair working conditions, and responsible sourcing practices. We also train our teams on how to identify warning signs in supply chains, how to engage with suppliers in line with our standards, and how to escalate potential concerns appropriately. By doing so, we aim to ensure that our employees are equipped to make responsible decisions in their daily work and to contribute to our overall ESG objectives.

8. Our groupwide approach

We stand for transparency in our human rights approach. This annual Statement under Section 54 of the UK Modern Slavery Act 2015 outlines our ongoing efforts to develop and improve our policies, risk assessments and due diligence measures to prevent modern slavery and human trafficking.

9. Approval by the Management Board

This statement was approved by the Management Board on September 12, 2025, which reviews and updates it annually.

PARI Medical Holding GmbH

Dr. Stefan Seemann, CEO                Anja Zschernig, CFO

* * * * *