b"CEODerek NixonPresident & CEOAs a technology-focused manufacturing company, Varel Energy Solutions remains steadfast in its commitment to contribute towards the future of affordable and reliable energy.As part of our sustainable strategy, we continue to support our customer base with new technologies while using our core expertise to enable pathways toward a lower carbon, multi-source energy mix to meet growing global demand.This year commenced our pursuit towards dramatic reduction in our carbon footprint present across our global operations. We will continue to strive for improvements in the health and safety of our employees, to further our sustainability initiatives, to avoid negative impacts to the environment, and to support the communities in which we work and live.In 2024 and beyond, we are committed to the following core priorities, which underpin our long-term sustainable enterprise strategy:1. Continuously improve our position on environmental impact and carbon footprint.2.Work to build a culture where everyone connected to VES feels a sense of belonging, inclusion and a voice to create company impact.3.Ensure a safe working environment.4.Foster ethical behaviors by providing policies, training and robust compliance programs.5.Engage our workforce and supply chain partners to champion sustainability and see it as a fundamental part of everyone's role. In pursuit of our purpose to pursue opportunities for growth and improvement while being accountable for the preservation of our planets future, we draw on more than 70 years of environmental, health, safety, risk and social experience helping clients to define goals and translate them into action. We call this capability our 360 Workflow approach, one that allows VES to develop strategic and technical solutions that advance objectives on the ground or at the executive level. This report outlines our impact through our work, our individual actions and our strong team-based culture. Companies across our industry are seeing the cost of capital becoming intrinsically linked to a business sustainability performance and disclosures. We are also seeing investors recognizing the need to integrate environmental, social and governance (ESG) factors into all aspects of assessing and managing risk and opportunity. To that end, we are working with our key shareholders to set ambition, policies and targets then translate these into actionable programs and portfolios while disclosing their performance to stakeholders in a robust, consistent and meaningful way.On behalf of the Executive Committee, I extend my thanks to our employees and partners around the globe for placing their trust in VES and allowing us to support them to build sustainable businesses. The people of VES deliver on our purpose of shaping a sustainable future with the worlds energy organizations every day through the solutions we provide our customers, the projects we support and the way we operate our business. I am humbled by their talent and grateful for their commitment to our business.2"