Investor Presentaiton
Ferrero Group
Sustainability Report 2022
Assurance letter
pwc
pwc
Introduction
Our sustainability
progress
Our reporting
F
Independent Limited Assurance Report on a selection of Key Performance Indicators disclosed
in the 2022 Sustainability Report
To the Board of Directors of
Ferrero International S.A.
We have performed a limited assurance engagement with respect to a selection of
Key Performance Indicators disclosed in the 2022 Sustainability Report (the "2022 Sustainability
Report") of Ferrero International S.A. (the "Company" or "Ferrero") for the year ended 31 August 2022
as set out in the "Scope" section below.
Scope
The scope of our work was limited to provide limited assurance over the selected Key Performance
Indicators as set out in the table attached below in Exhibit 1 (the "Selected Information").
Our assurance work was performed with respect to the year ended 31 August 2022 information only
and we have not performed any procedures with respect to earlier periods or any other elements
included in the 2022 Sustainability Report and, therefore, do not express any conclusion thereon.
The Assessment Criteria
The Selected Information was prepared in accordance with certain sections of the Global Reporting
Initiative (GRI) framework and additional methodologies defined by Company policies (together the
"Assessment Criteria") for the year ended 31 August 2022, accompanying the KPI disclosures in the
2022 Sustainability Report.
Management considers the Assessment Criteria relevant for the purpose of the Company's business
and for the ultimate users of the 2022 Sustainability Report.
Responsibilities of the Board of Directors
The Board of Directors of the Company is responsible for:
• developing appropriate Assessment Criteria against which to assess the Selected Information and
applying these consistently;
ensuring that those Assessment Criteria are relevant and appropriate to the Company and its
shareholders;
designing, implementing and maintaining internal control procedures that provide adequate control
over the preparation and presentation of the Selected Information that is free from material
misstatement, whether due to fraud or error;
⚫ selecting and applying appropriate policies, and making estimates that are reasonable in the
circumstances;
the preparation of the Selected Information in accordance with the Assessment Criteria;
. the retention of sufficient, appropriate records to support the reported data and assertions included.
in the Selected Information.
Inherent limitations
The Selected Information needs to be read and understood together with the Assessment Criteria which
the Company is solely responsible for selecting and applying. The absence of a significant body of
established practice on which to draw to evaluate and measure non-financial information allows for
different, but acceptable, measurement techniques and can affect comparability between entities and
over time. The selection of different but acceptable measurement techniques may result in materially
different measurements.
Our independence and quality management
We have complied with the independence and other ethical requirements of the International Code of
Ethics for Professional Accountants (including International Independence Standards) issued by the
International Ethics Standards Board for Accountants as adopted for Luxembourg by the "Commission
de Surveillance du Secteur Financier" (CSSF), which is founded on fundamental principles of integrity,
objectivity, professional competence and due care, confidentiality and professional behavior.
Our firm applies International Standard on Quality Management 1, as adopted for Luxembourg by the
CSSF, which requires the firm to design, implement and operate system of quality management
including policies or procedures regarding compliance with ethical requirements, professional standards
and applicable legal and regulatory requirements.
Responsibility of the "Réviseur d'entreprises agréé"
Our responsibility is to express a limited assurance conclusion on the Selected Information as set out in
the Exhibit 1 based on the procedures we have performed and the evidence we have obtained. We
conducted our assurance engagement in accordance with the International Standard on Assurance
Engagements (ISAE) 3000 (Revised): Assurance Engagements other than Audits or Reviews of
Historical Financial Information issued by the "International Auditing and Assurance Standards Board"
(IAASB) as adopted for Luxembourg by the "Institut des Réviseurs d'Entreprises". This Standard
requires that we plan and perform the assurance engagement allow us to conclude with limited
assurance that nothing has come o our attention that causes us to believe that the Selected Information
has not been prepared, in all material aspects, in accordance with the Assessment Criteria.
A limited assurance engagement involves assessing the suitability in the circumstances of the
Company's use of the Assessment Criteria as the basis for the preparation of the Selected Information,
assessing the risks of material misstatement of the Selected Information whether due to fraud or error,
responding to the assessed risks as necessary in the circumstances, and evaluating the overall
presentation of the Selected Information.
In a limited assurance engagement, the procedures vary in nature and timing and are less in extent than
for a reasonable assurance engagement. As a result, the level of assurance obtained in a limited
assurance engagement is substantially lower than the assurance that would have been obtained had
we performed a reasonable assurance engagement.
90
PricewaterhouseCoopers, Société coopérative, 2 rue Gerhard Mercator, B.P. 1443, L-1014 Luxembourg
T: +352 494848 1, F: +352 494848 2900, www.pwc.lu
Cabinet de révision agréé. Expert-comptable (autorisation gouvernementale n°10028256)
R.C.S. Luxembourg B 65 477-TVA LU25482518
2View entire presentation