Our sustainability commitment

At Hunting we take our corporate responsibility seriously. This includes the way we support and develop our people, our commitment to operating safely and delivering high quality, reliable products; the way we work with our customers and our suppliers; our approach to managing our environmental impact; and how we support the communities around us. We recognise that through creating an environment that is cognisant of our responsibilities, we will foster sustainable shareholder value creation.

We have a global footprint, employing over 2,000 people operating in 11 countries, with distribution and use of our products extending well beyond that. Our values shape our behaviours and the way that we engage with our many stakeholders. At the heart of our success has been the ethos of honesty and integrity, which are the core values of our Code of Conduct, and it is this Code that directs our people to understand what doing the right thing means.

Our people are key to fulfilling our strategic objectives and we believe that they constitute an important competitive advantage. We encourage knowledge sharing and learning across the business to create an environment that attracts, retains, develops, engages, and inspires our colleagues. We invest in training, leadership, and communication, to help improve the way we do things and enhance the experience people have at work, which will ultimately drive product innovation.

The safety of our people is paramount, and we have invested considerable time and energy into developing, deploying, and maintaining high safety standards across our operations. We are proud of the efforts that we have made to improve our safety performance over the years, but our work here is ongoing, and we remain committed to creating a sustainable zero harm to the environment.

Climate change is something that affects us all. We seek to manage our environmental impact and performance through setting and achieving emissions reductions, and mitigating climate-related risks. Our business supports the energy industry, with our products supporting the transition to lower carbon sources, through the extraction of natural gas, which is a lower carbon emitting source of energy. We are committed to pursuing energy transition opportunities, as well as the diversification of revenue sources to include non-oil and gas sales.

We are proud of our 140-year history of innovation, our reputation as a respected, well-governed and safe place to work, and the role our products play in the upstream energy sector. We remain committed to our sustainable practices that seek to benefit all our stakeholders.

Jim Johnson, Chief Executive

These building blocks have enabled the Group to succeed in the fast-moving and competitive global oil and gas market, and we are now applying these principles to new markets where our expertise is demanded, including power generation, medical, defence, and commercial space.

While the Company anticipates robust traditional energy demand for many years to come, we also recognise that long-term, stable, and sustainable markets should be a stronger feature of our investment case. Our ability to deliver for these markets will only be achieved by a strong workforce, who are supported and developed, and kept safe. Further, our impact on the environment is another facet of our sustainability story. All our facility managers have been tasked with containing and reducing our carbon footprint, and we look forward to reporting our progress in the years to come. Key to these objectives is management and Board oversight of all these initiatives. The Ethics and Sustainability Committee is proving an excellent forum to evolve our strategies, with key senior management input to these deliberations, providing a strong governance foundation for our longer-term plans.

John (Jay) F. Click Ethics and Sustainability Committee (Chair)

Hunting has spent a great deal of time talking to both internal and external stakeholders about which issues are of greatest priority for the Company in the long term. The results of this process have led us to developing a matrix of sustainability priorities, which our investors and other stakeholders can measure us against going forward. Hunting is committed to growing our business in a responsible and sustainable manner, illustrated by the issues highlighted below.

In identifying and reporting on our material issues we have been guided by the Sustainability Accounting Standards Board’s (SASB) definition that “information is financially material if omitting, misstating, or obscuring it could reasonably be expected to influence investment or lending decisions that users make on the basis of their assessments of short-, medium-, and long-term financial performance and enterprise value”.

Moreover, we take a broader view promoted by Global Reporting Initiative (GRI) that these should include topics that represent the organisation’s most significant impacts on the economy, environment, and society, including impacts on human rights.