AS Sustainability Report

Materiality analysis and stakeholder engagement

Introduction

CEO letter

Air SERBIA’s Story

Air Serbia in 2025 - year in review

Governance

Environment

Economic value and connectivity

Social

Appendix

CATEGORY

5.4 List of material topics A total of 18 material topics were identified. The table below shows the ratings by source, the average external rating and the resulting priority (quadrant in the matrix). The classification into E/S/G areas is indicative and serves to group topics into the thematic chapters of the report.

1

2

3

4

5

6

Fleet modernization

Emissions management / SAF

Energy management

Noise management

Digital transformation

Flight safety and security

Changes compared to the previous period This is the first materiality analysis and the first materiality matrix conducted by Air Serbia, and therefore there is no previous reporting period against which the list of material topics could be compared. For this reason, all material topics are presented in detail in this report, with individual ratings, average external ratings and position in the matrix, thereby establishing a baseline. Relative to this first cycle, future reports will present changes in the list of topics (added, merged or removed topics and the reasons for this), as well as shifts in their prioritization.

12

11

10

9

8

7

Complaints management

Customer satisfaction and experience 10

Community engagement

Workforce stability

Training and career planning

Occupational health and safety

13

14

15

16

17

18

Ethics and fair competition

GDPR and cyber risks

Procurement and supply chain

Sustainable network & destinations

Responsible marketing & brand

Financial sustainability and resilience

Social

Governance

Environmental

Sustainability Report 21

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