Dear Shareholders,

2025 has truly tested our resilience and adaptability. We navigated severe climate and disaster events, including earthquakes and widespread flooding, alongside economic shifts such as Trump tariffs and Thailand’s minimum wage increase. Geopolitical and policy changes, from Thailand–Cambodia border tensions to major administrative reforms in Vietnam and political instability in Thailand and Bangladesh, added further complexity. Despite these challenges, our teams demonstrated agility, determination, and an unwavering commitment to deliver on our strategic priorities.

We have successfully integrated LANNA, securing our future energy requirements and strengthening our balance sheet. While LANNA 2025 performance is slightly lower than 2024 due to a softer coal index, our strategic position remains robust and focused on long-term growth.

Market performance highlights:

• Thailand faced subdued domestic demand, high household debt, ongoing border tensions with Cambodia and severe flooding in the south; however, our financial performance improved driven by the strong foundation laid in 2024, public infrastructure investments, megaprojects, tourism recovery, and a focused strategy on profitable market share growth, new product launches, channel optimization, and disciplined cost management.
• Vietnam continued to demonstrate strong momentum despite an oversupplied market and intense competition. Cement demand was supported by infrastructure investments, while pricing challenges were effectively managed through operational efficiency and disciplined cost control.
• Sri Lanka showed encouraging signs of recovery in 2025, with double-digit demand growth supported by expanding construction activity, easing inflation, and renewed infrastructure investment. While pricing remained under pressure due to a highly competitive market, our disciplined cost management and operational efficiency helped sustain performance and competitiveness. In addition, the country was impacted by Cyclone Ditwah just before the year-end, impacting Q4 performance and signaling an anticipated setback in Q1–Q2 2026.
• Bangladesh continues to face political uncertainty, persistent inflation and slower execution of national development programs, although operational efficiencies improved, sales volumes and pricing remained under pressure due to ongoing instability.

We accelerated our digital transformation journey by upgrading to SAP S/4HANA, creating a robust foundation for our Technology and Digital Roadmap. This position enhances operational efficiency, enable data-driven decision-making, and drive digital-led transformation across the Group. At the same time, we continued to invest in our people and leadership capabilities, fostering a high-performance culture through technical training, capability building, and commercial transformation focused on value-based selling. Our FIT Plus initiative remains a cornerstone of success, driving efficiency, cost leadership, and continuous improvement across all operations. In addition, our expansion in Saraburi and Chonburi underscores our commitment to growth and positions us for long-term success.

Looking ahead to 2026, we are energized by the opportunities ahead of us. With a clear strategy, strong and disciplined execution, and a resilient team, SCCC is well-positioned to lead the industry through value-added solutions, accelerated technology and digital transformation, and value creation for all stakeholders.

Thank you for your continued trust and support. Together, we are building a stronger, smarter and more sustainable future.