Dear Shareholders,

The Board of Directors of Siam City Cement Public Company Limited assigned the Group CEO to risk management by chairing the Risk Management Steering Committee (RMSC). RMSC comprised of Group Chief Executive Officer (also serving as Executive Director), Group Chief Performance and Sustainability Officer and Vice President, Finance.

In 2024, the RMSC conducted four meetings, with full attendance, consistently assessing Risks and Opportunities. Utilizing a comprehensive risk management framework, the committee considered macro-economic, commodity and currency, business portfolio, operational, financial, environmental, legal, including ESG related and emerging risk aspects. The objective was to ensure timely management actions, minimize risks and impacts, support strategic decisions, and enhance overall company performance.

The RMSC reviews identified risks and opportunities quarterly, prioritizing them based on value, velocity, risk tolerance and key risk indicators. This information, along with major risks and mitigations, is regularly updated to the Audit Committee (AC) and the Board of Directors (BoD) during their quarterly meetings.

Key Activities of the RMSC:

1. Business Risk Management (BRM) at Group Company Level:
   • RMSC promotes risk awareness and identification at each Group Company level and authorizes them to conduct a detailed business assessment, considering current and emerging risks, and update mitigation actions and status, after considering inputs from the Executive Committee.
2. Consolidation at Group Level with Detailed Action Plans by Country/GEXCO:
   • Country/Group Company risk maps are consolidated at the Group level, providing an integrated view of risks alongside macro factors. RMSC offers insights, and updated group risk maps are shared with Group Companies for execution of mitigation actions.
3. Quarterly Update to AC and Board:
   • The AC and BoD receive quarterly presentations on updated risk maps and mitigation actions.
4. Follow-up on Mitigation Actions:
   • Group CEO and RMSC members regularly review the status of mitigation actions, seeking independent confirmation on high-risk items from Group Internal Audit and Compliance.

In conclusion, RMSC is confident that the Group’s structured risk management is ingrained in SCCC’s operational approach, and the RMSC ensures a proactive response to risks and opportunities, aligning with our commitment to achieving sustainable business objectives in the long term.