Dear Shareholders,

The Board of Directors approved the INSEE Sustainability Ambition 2030 pillars and targets in 2023 and assigned the Group CEO to establish the Sustainability Steering Committee (SSC) to ensure a successful journey.

In 2025, the four-member SSC strengthened its governance and strategic focus by appointing Dr. Raju Goyal as Chairman, succeeding Mr. Hemant Mudgal. Other members include the Chief Executive Officer of Siam City Cement (Vietnam) Ltd., the Chief Executive Officer of INSEE Ecocycle Ltd., and the Head of Corporate Communications of Siam City Cement Plc. Committee members engaged closely with Management and the CEOs of Group entities to drive initiatives aligned with the SCCC Group’s Sustainability Ambition 2030 and the overall Group Strategy. The Committee reported back to the Board of Directors through various arrangements, covering ESG projects, financial plans, and the assessment of ESG risks, impacts, and opportunities.

Throughout 2025, the SSC convened four fully attended working meetings, featuring active participation from the CEOs of Group companies and Country Sustainability Coordinators. The Committee adhered strictly to its Charter, maintaining a sharp focus on key strategic pillars: Climate and Energy, Circular Economy, Biodiversity and Water, Community and Stakeholder Engagement, and Occupational Health and Safety (OH&S). Sustainability remains seamlessly integrated into the Group’s core business strategy, with accountability distributed across all CEOs, Country Sustainability Coordinators, and Pillar Working Group members to ensure the delivery of targets set within both country-specific and Group-wide roadmaps.

Key activities of the SSC in 2025:

1. Appointment of Dr. Raju Goyal as the Chairman of SSC

   Joining Siam City Cement Group in November 2025 as the Head of Group Technical Services and Capabilities, Dr. Raju will also chair the SSC, bringing with him over 30 years of global experience in the cement and building materials industry, driving large-scale technical, sustainability, technology and innovation, and operational excellence at various international companies.

2. Driving the Sustainability Agenda Across the Group towards 2030 Targets:

   At Siam City Cement, our strong commitment to decarbonization has enabled us to achieve significant milestones. We have reduced CO₂ emissions to 526 kg per ton of cementitious (surpassing our 2025 target of 528 kg), with a Clinker Factor of 67.3 percent and a Thermal Substitution Rate (TSR) of 28.9 percent. While the TSR improved over the previous year, we continue to optimize our alternative fuel processing to meet our ambitious future targets.

   Our biodiversity agenda continues to advance through ongoing engagement with the International Union for Conservation of Nature (IUCN). Additionally, business units have successfully implemented country-specific initiatives to ensure our Net Positive Impact (NPI) journey, including the verification of internal and external biodiversity action plans.

   This year, water consumption improved to 239 liters per ton of cement (down from 245 liters in 2024). While this progress is notable, it fell slightly short of our aggressive target of 228 liters. Similarly, the Lost Time Injury Frequency Rate (LTIFR) stood at 0.2, a significant improvement from 0.36 in the previous year. We remain dedicated to our zero-harm goal and have identified stringent measures to bridge these gaps in the coming year.

   Through our community engagement programs, we have successfully implemented a multitude of country-specific initiatives. We are proud to have received various awards recognizing our efforts to build trust, foster partnerships, and drive sustainable development in the communities we serve.

3. Major ESG Recognitions in 2025:
   • Siam City Cement PLC received an SET ESG Rating of ‘AA’, marking three consecutive years of this recognition from the Stock Exchange of Thailand.
   • Siam City Cement PLC achieved a Corporate Governance Rating (CGR) of Thai Listed Companies 2025 at the ‘Excellent’ level or ‘5-star’ rating for ten consecutive years.

The Sustainability Steering Committee diligently oversees the effectiveness of ESG activities and governance across the Group, ensuring alignment with SCCC’s commitment of 'Caring About Our Future.' The Committee translates this commitment into tangible actions, reinforcing a steadfast focus on implementation that mirrors our corporate vision and mission.