List of Material Topics

GRI: 3-1, 3-2

The identification of material topics is a necessary part of the process of preparing non-financial reporting in accordance with the GRI Standards. The purpose of this exercise is to study and identify the economic, environmental and social topics that are most important in terms of impact of the Agency’s activities on its stakeholders.

In 2023, the ESG Centre identified the material topics using a three-step procedure.

Process to determine material topics

Step 1. Identification	Analysis of the Agency’s current position in ESG agenda Analysis of open information sources: industry trends and risks, research, media reports Consulting with the members of the ESG Centre Identification of current and potential impacts of the Agency’s activities
Outcome	Preliminary list of material topics
Step 2. Priority setting	Online survey of stakeholdersExpert RA defines its stakeholders as its employees and its customers (entities assigned all types of Expert RA ratings in accordance with approved methodologies), the members of its Board of Directors and senior management, including the members of its Management Board. The Agency posted a questionnaire on its corporate website and collected the feedback in October – December 2023.The questionnaire could be filled in by any stakeholder besides those listed above. (members of the BoD, Management Board, ESG Centre, the Agency employees and customers). Respondents were asked to rank different topics, from strong to weak, according to the impact strength Setting of priorities in the preliminary list of material topics, review of the online survey results
Outcome	Adjusted list of material topics
Step 3. Approval	Consideration and approval of the final list of material topics by the ESG Centre
Outcome	Final list of material topics

Material Topics

For the purposes of this Report, ten topics, with impact probability and impact strength assessed to be above 5.0, are regarded as material. Topics falling below the materiality threshold are examined with less scrutiny, although remain important to the Agency.

Materiality matrix

Material topics (ranked according to decreasing degree of materiality)

1	Qualitative information about the issuance of independent ratings, assessments and opinions	6	Increasing public financial literacy
2	Promotion of the development of the responsible finance and ESG rating market	7	Assistance to small, medium-sized and large organisations in gaining access to funds
3	Personal data security	8	Assistance in market infrastructure development to facilitate the increase in individual and institutional investors
4	Decent work environment, skill development, staff retention	9	Promotion of equal opportunity and non-discrimination
5	Raising of the sustainable development awareness	10	Participation in special working groups, councils and regulatory initiatives

Non-material topics

11	Responsible consumption (energy, material resources, office equipment)
12	Responsible waste management
13	The company’s participation in the implementation of initiatives that contribute to the development of local territories, including charity programmes
14	Procurement activities

Material topics and their connection with disclosed standards

No	Topic	Affected stakeholders	Standards (GRI, SASB)
1	Qualitative information about the issuance of independent ratings, assessments and opinions	Customers, the government, investorsInvestors active in the Russian financial market. and other counterparties of the customers	GRI-203: Indirect Economic Impacts 2016 GRI 205: Anti-Corruption 2016 SV-PS-510a.1
2	Promotion of the development of the responsible finance and ESG rating market	Customers, the government, investorsInvestors active in the Russian financial market. and financial market infrastructure participants, mass media	GRI-203: Indirect Economic Impacts 2016
3	Personal data security	Customers, employees	GRI 418: Customer Privacy 2016 SV-PS-230a.1 SV-PS-230a.2 SV-PS-230a.3
4	Decent work environment, skill development, staff retention	Employees	GRI 401: Employment 2016 GRI 402: Labor/Management Relations 2016 GRI 403: Occupational Health and Safety 2018 GRI 404: Training and Education 2016 SV-PS-330a.1
5	Raising of the sustainable development awareness	InvestorsInvestors active in the Russian financial market., employees, the government, customers	GRI-203: Indirect Economic Impacts 2016
6	Increasing public financial literacy	InvestorsInvestors active in the Russian financial market.	GRI-203: Indirect Economic Impacts 2016
7	Assistance to small, medium-sized and large organisations in gaining access to funds	Customers, investorsInvestors active in the Russian financial market.	GRI-203: Indirect Economic Impacts 2016
8	Assistance in market infrastructure development to facilitate the increase in individual and institutional investors	InvestorsInvestors active in the Russian financial market., financial market infrastructure participants	GRI-203: Indirect Economic Impacts 2016
9	Promotion of equal opportunity and non-discrimination	Employees	GRI 405: Diversity and Equal Opportunity 2016 GRI 406: Non-discrimination 2016 GRI 408: Child Labor 2016 GRI 409: Forced or Compulsory Labor 2016
10	Participation in special working groups, councils and regulatory initiatives	InvestorsInvestors active in the Russian financial market., financial market infrastructure participants	GRI-203: Indirect Economic Impacts 2016