Rome, January 2026 – Leonardo has received an improved Environmental, Social and Governance (ESG) Risk Rating from Sustainalytics, with its score reduced to 22 out of 100 from a previous 29. On Sustainalytics’ scale, where zero represents the lowest risk, the revised rating places Leonardo third worldwide among Aerospace & Defence companies.

Sustainalytics, part of the Morningstar Group, evaluates more than 15,000 companies globally and is widely used by investors, shareholders and analysts as an independent benchmark. Its methodology assesses how effectively companies manage ESG issues that are material to their respective sectors.

Under the latest assessment, Leonardo is positioned in the lower band of the “Medium” risk category, which ranges from “Negligible” to “Severe”. The company currently ranks third out of 113 assessed Aerospace & Defence firms, a sector largely concentrated in the higher-risk categories.

According to Sustainalytics, the improved rating reflects positive assessments across several issues considered material for the sector. These include raw material use, product governance, corporate governance, human capital, stakeholder governance, emissions, effluents and waste. Leonardo’s overall ESG risk management was rated “Strong” on a three-level scale, confirming the robustness of its approach to managing ESG-related risks.

The Sustainalytics upgrade follows a series of positive ESG assessments received by Leonardo during 2025. S&P Global increased the company’s score from 81 to 83 out of 100 in September, confirming sector leadership. ISS ESG confirmed Prime Status in September, improving Leonardo’s rating from C+ to B-. In November, MSCI upgraded the company’s ESG rating from “BBB” to “A”. In December, CDP, formerly the Carbon Disclosure Project, awarded Leonardo an “A” rating, placing it in the leadership band for climate change mitigation.

These outcomes reflect measures introduced under Leonardo’s sustainability strategy launched in 2023. Key actions include the adoption of the Group’s first Transition Plan, outlining a pathway towards a more resilient business model through decoupling growth from environmental impacts. The strategy also includes initiatives focused on the circular economy, energy efficiency, biodiversity, climate risk scenarios and supply chain engagement.

Additional measures cited include the introduction of a sustainability e-learning programme for all Group employees, completed by more than 18,000 people within six months and extended to the supply chain, alongside social impact projects aimed at local communities. Leonardo has also continued to strengthen responsible governance practices, including adherence to international initiatives such as the UN Global Compact, with an active role in the Italian network and commitment to its principles on human rights and anti-corruption.