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 the successful journey.

In 2024, the SSC was given more specific focus by appointing Mr. Hemant Mudgal, Group Chief of Performance and Sustainability to chair this committee. Committee members communicated with Management and CEOs of entities in the Group to drive initiatives that are aligned with the SCCC Group’s Sustainability Ambition 2030 as well as the Group Strategy, and report back to the Board of Directors in various arrangement, such as, ESG projects and financial plans, ESG risks impacts and opportunities, and report of the SSC.

Throughout the year, the SSC held four fully attended working meetings, which were also joined by the CEO of Group companies and Country Sustainability Coordinators.

The Committee followed its Charter rigorously, focusing on key areas: Climate and Energy, Circular Economy, Biodiversity and Water, Community and Stakeholder Engagement, and Occupational Health and Safety (OH&S). Sustainability has been seamlessly integrated into the Group’s core business strategy, with each CEO, Country Sustainability Coordinator, and Pillar

Key activities of the SSC in 2024*:

1. 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 562 kg per ton of cementitious, with a Clinker Factor of 69.2% and a Thermal Substitution Rate (TSR) of 28.5%, both surpassing the 2024 targets set for the entire Group.

   Our biodiversity agenda continues to advance through ongoing engagement with the International Union for Conservation of Nature (IUCN). Additionally, business units are actively supporting our Net Positive Impact (NPI) journey, including the initiation of potential regional partnerships to strengthen our efforts.

   This year, water consumption reached 245 liters per ton of cement, falling slightly short of our target. Similarly, the Lost Time Injury Frequency Rate (LTIFR) stood at 0.36. Improvement areas have been identified, and stringent measures will be implemented in the coming year to address these gaps.

   Through our community engagement programs, we remain committed to aligning activities with our engagement plans. By actively collaborating with stakeholders, we aim to build trust, foster partnerships, and drive sustainable development, ensuring a lasting positive impact on the communities we serve.

2. Group Sustainability Policy:

   Approved by the Board of Directors, the Group Sustainability Policy serves as the cornerstone of the Group's sustainability approach, ensuring the integration of sustainability principles into every aspect of our business operations.

3. Key ESG Recognitions in 2024:
   • Siam City Cement Public Company Limited received an SET ESG Rating of ‘AA’, marking second consecutive years of this recognition from the Stock Exchange of Thailand.
   • Siam City Cement Public Company Limited achieved a Corporate Governance Rating (CGR) of Thai Listed Companies 2024 at the ‘Excellent’ level or ‘5-star’ rating for nine 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', in which the Committee translates this commitment into tangible actions, reinforcing a steadfast focus on implementation that aligns with our corporate vision and mission.

*Details of information for governance, strategy, risk management, metrics and targets in relation to ESG appears in Sustainability Development section.