Task Force on Climate-Related Financial Disclosures

Governance

Oversight of Climate-Related Risks and Opportunities

The Maritz Leadership Team provides oversight for Maritz’s strategy, performance, and key business risks and opportunities, which includes climate-related matters. The Maritz Leadership Team is informed of environmental issues and sustainability efforts on a regular basis. These updates typically include strategy alignment, progress toward goals and commitments, budget implications, and any incremental spend required. Climate-related topics are generally scheduled as agenda items at least annually, with additional ad hoc sessions convened as needed to address urgent matters. The Maritz Leadership Team maintains ultimate responsibility for guiding and monitoring the implementation of Maritz’s climate transition plan, business strategy, and supplier compliance. Team members bring diverse environmental expertise, supported by training and engagement with internal and external experts, yielding informed decision-making and strategic alignment with sustainability imperatives.

Management’s Role in Climate-Related Issues

Climate governance at Maritz is led by the General Manager of Environmental Strategy. That position currently reports to the Chief Global Strategy Officer, who holds executive-level responsibility for environmental strategy, including climate change and biodiversity. The General Manager’s role encompasses assessing and managing environmental dependencies, risks, and opportunities; developing and implementing climate transition plans; setting and monitoring corporate environmental policies and science-based targets; and overseeing budgets, reporting, and innovation initiatives. This position also manages supplier and value chain engagement, encouraging environmental considerations to be embedded across operations. Through this structure, climate-related risks and opportunities are actively managed at the highest levels of the organization, with clear accountability and integration into strategic planning and execution.

Strategy

Climate Risk

In 2025, Maritz enlisted the help of third-party consultants to perform climate scenario analyses to aid in understanding the resilience of the organization to both physical and transition risks. Physical risk analysis leveraged quantitative modeling of key locations, while transition risk analysis was qualitative in nature and involved research, benchmarking, and a workshop with subject matter experts from across the organization.

Physical Risk

The physical risk analysis explored the likelihood of certain key Maritz locations under two different potential climate futures based on the Shared Socioeconomic Pathways (SSP) used in conjunction with the Representative Concentration Pathways (RCP), both adopted by the International Panel on Climate Change (IPCC). The SSP5 8.5 scenario is a high-emissions scenario driven by increased fossil fuel use and rapid economic growth, leading to a 4–5°C temperature rise by 2100. The SSP2 4.5 scenario is a moderate-emission scenario with limited climate policies, expecting to lead to a temperature increase of 2.0°C-3.0°C by 2100. These climate scenarios were selected after performing review of scenario analysis by other organizations within industry and ultimately chosen because they provide insights into potential business impacts, offering a broad perspective on risks under both high-emissions and moderate-emissions pathways. Using third party data and climate models, Maritz evaluated potential climate hazards and considered potential risk mitigation strategies under both extreme and intermediate conditions across the Current day (utilizing historical data from 1995 to 2004) and Mid-century (2045 – 2054) periods. These time horizons consider the long-term nature of climate patterns. Maritz runs most technology on the cloud and operates allowing remote work. If a physical disruption occurs, operations would not be seriously affected.

Transition Risk

The transition risk analysis leveraged the International Energy Agency’s (IEA) Stated Policies Scenario (STEPS) and Net Zero Emissions (NZE) scenario, which allowed qualitative exploration of risks and opportunities common within the business sales and marketing industry, as well as those unique to Maritz’s business. The STEPS scenario assumes enacted policies will be implemented and achieve their intended objectives, while the NZE scenario assumes more rapid decarbonization with net zero CO2 emissions by 2050. Consistent with the physical risk analysis, these scenarios were chosen after performing benchmarking analysis across the business sales and marketing industry. They offer Maritz a view of both policy-driven changes and potential accelerated decarbonization, helping to proactively align its strategy to evolving market dynamics. Additionally, selection of the NZE scenario aligns with TCFD’s recommendation of considering a 2°C or lower scenario. Transition risks were considered using time horizons aligned with Maritz’s financial and strategic planning and risk assessment processes: short-term of 0-2 years, medium-term of 3-10 years, and long-term of greater than ten years. Potential climate-related risks and opportunities were identified by reviewing existing internal processes, such as the financial and strategic planning process and the enterprise risk management framework. This was supplemented by performing research on peer disclosures and reviewing related industry guidance. A compiled list of potential risks and opportunities was then presented to and discussed by a group of cross-functional leaders to arrive at a determination of impact and timing for the organization. By leveraging diverse inputs through research and workshop approaches, Maritz is well-positioned to develop innovative strategies to enhance its position within the market amid emerging climate-related risks. Below are the most significant risks and opportunities discussed during the transition risk workshop:

Risks

Policy and Legal

Recent changes to government incentives have reduced federal support for electric vehicle (EV) adoption by scaling back key tax credits and incentives. This shift may dampen market momentum for EVs, potentially shifting demand for Maritz’s Transportation Electrification programs, which support Original Equipment Manufacturers (OEMs), dealers, utilities and consumers in the EV transition through education, training, and marketing initiatives. Maritz faces a potential shift in revenue from OEM clients due to declining demand for electric vehicle services, but potentially increased opportunities with utilities. These impacts may manifest over the short-term.

Market Risk

Maritz recognizes that, over the long term, growing climate awareness and shifting consumer sentiment could influence future travel behavior. At the same time, carbon pricing mechanisms — such as taxes or cap-and-trade systems — may significantly increase travel costs. These pressures could pose risks to core offerings like conference-related travel and other in-person events, potentially leading to lower participation, higher costs, and lower volume.

Opportunities

Sustainability Event Innovation Opportunity

Over the medium-term and long-term, Maritz has an opportunity to lead in low-carbon event design and delivery through innovation and strategic partnerships. Growing client demand for lower carbon-footprint solutions is driving innovation across the company’s event services. A key initiative includes the development of a carbon measurement tool that can track event-level emissions. As low-carbon event design becomes a standard expectation, Maritz is committed to evolving its offerings to meet client needs and regulatory requirements.

As with any scenario analysis, there are inherent limitations and output should only be viewed as a plausible future, not a prediction of events. Notably, any scenario used is likely to oversimplify the dynamic political environment and may not fully capture the current political and market implications affecting Maritz’s operating regions. However, the exercise helps Maritz identify and plan for a variety of potential risks and opportunities that may materialize for the business and serves as a necessary step in maintaining compliance with evolving climate-related requirements and supporting alignment with established industry practices.

Maritz has a climate transition plan aligned with a 1.5°C world and is committed to net zero by 2050. Maritz has established an Environmental Strategy Team with a distinct working group that is responsible for executing measurement and reporting. This includes alignment with key department and function owners that have the responsibility of executing tactics relative to reduction. Also, Maritz is committed to Race to Zero, SME Climate Hub and Science Based Targets initiative (SBTi).