Sustainable Strategy and Operational Framework

The Group is committed to developing a comprehensive sustainability strategy that is fully aligned with its core business strategy guidelines, encompassing Stability, Sustainability, Futuristic Investment, People, Planet, and Prosperity. This strategy is designed to drive long-term value creation and growth across all business sectors, including human resources, communities, society, and the natural environment impacted by the Group's operations. Furthermore, the Group is dedicated to conducting business according to principles of good governance and managing stakeholder relationships in an integrated manner. This sustainability strategy will serve as a key tool for enhancing operational efficiency across all Business Groups.

Commitment to Sustainable Development ^(2-22)

The Group is committed to sustainable business growth and has set clear goals and commitments to enhance sustainability, creating added value for stakeholders, communities, society, and the environment throughout its value chain. This commitment is operationalized through a sustainability framework that aligns with the Group's material sustainability topics (Materiality), covering the environmental, social, and governance dimensions. The Group has aligned its significant business operations with the United Nations' Sustainable Development Goals (SDGs), recognizing 14 goals out of the 17 as relevant to its material topics. The Group intends to further develop its sustainability approaches in accordance with its established strategic framework and goals. Detailed information on operations related to material issues, including the Group's future goals, is provided in the Group's sustainability materiality table.

Since 2021, TTA has been a member of the Thailand Business Council for Sustainable Development (TBCSD), actively participating in driving the Thai business sector towards sustainable development at the national level. This includes promoting policies that balance social and environmental care with equitable economic development across all sectors.

Sustainability Material Topics 2024 ^{(2-25), (3-3)}

Material Topics	SDGs Goals	Boundari'es of impacts Scope of Internal /External Impact	Materiality in Business Operations	Management Approaches	Targets	Performance	Reporting Topics
Energy Efficiency			Electricity is the main energy source that the Group uses in its business operations. Therefore, the Group prioritizes energy efficiency, with the aim of reducing environmental impact and reducing operating costs.	Compliance with environmental management policies and the environmental management framework. Compliance with environmental laws and regulations. Procure investment projects in renewable energy.	TTA aims to reduce electricity consumption by at least 2 percent from the previous year. PHC aims to reduce electricity consumption units of all 196 branches by 5 percent from 2023.	TTA used 819,099 kilowatt-hours of electricity, an increase of 11.2 percent from 2023, failing to meet the set target. PHC used 27,874,578.4 kilowatt-hours of electricity, an increase of 3.3 percent from 2023, failing to meet the set target.	Energy Efficiency
Water Management			The Group recognizes that water is a vital and limited resource. Therefore, water management within the organization, whether in the shipping business, in office buildings, or in other businesses, is an important part that needs to be taken care of to limit water-related risks and impacts as efficiently as possible.	Comply with relevant laws and regulations, both domestically and internationally. Thoresen Shipping established a Technical Department to oversee water and wastewater management in accordance with the requirements of the International Maritime Organization and to develop appropriate operational plans. Develop work systems and management to reduce environmental impact.	TTA aims to reduce water consumption within the head office by at least 2 percent from the previous year.	TTA used a total of 2,331 cubic meters of water, an increase of 26.5 percent from 2023, failing to meet the set target.	Water Management
GHG Emissions and Climate Change Strategy			Recognizing the significant potential impact of climate change on its business operations, the Group is committed to managing greenhouse gas emissions and adapting to climate change. This is crucial for reducing risks and safeguarding the Group and the well-being of its stakeholders.	Develop short-term and long-term strategies to address climate change, effectively manage climate-related risks and capitalizing on emerging opportunities. Set progressive annual targets for carbon dioxide (CO2) emissions reductions, in accordance with International Maritime Organization (IMO) standards.	TSS set a value to reduce carbon dioxide emissions by approximately 5 in 2024.	TSS has a total amount of carbon dioxide emissions from freight transport, totaling 335,685 tons of carbon dioxide equivalent (tCO2e), or an increase of 11 percent, failing to meet the set target.	GHG Emissions and Climate Change Strategy
Waste Management			Waste management from business operations may help reduce the impact of contamination from various wastes caused by improper waste management. It may also help reduce the cost of procuring new raw materials and reduce waste disposal costs.	Resource utilization and the application of the Circular Economy concept to business operations. Apply the 4Rs principle throughout the value chain.	TTA aims to reduce non-hazardous waste by at least 2 percent from the previous year.	TTA has a total volume of non-hazardous waste and non-hazardous waste orders of 1,805 kilograms, an increase of 19.5 percent from 2023, failing to meet the set target.	Waste Management
Human Rights Due Diligence			By adhering to the principles of the United Nations Guiding Principles on Business and Human Rights, the Group is committed to respecting human rights to the highest degree in its business operations towards all stakeholder groups without discrimination and without prejudice.	The Board of Directors considers, reviews, and provides guidance on human rights operations, including policy setting. Comprehensive human rights due diligence assessment to update the human rights risk register.	TTA and PHC set a target of zero human rights complaints.	TTA and PHC have zero human rights complaints, achieving the set target.	Human Rights Due Diligence
Occupation Health and Safety			Occupational safety is one of the most important things in doing business. The Group is committed to strictly complying with occupational health and safety laws and related standards. Since human resources are an indispensable component of business operations, this will also reduce operational risks that may cause damage in various aspects.	Consider the importance of safety according to the nature of work, covering both physical and mental health, both for employees and contractors. Create a safety culture throughout the organization through training and communication. Promote health, occupational health, and safety in the lives and property of employees.	TTA sets a target of the lost time injury frequency rate (LTIFR) is zero. TSS sets a target of the lost time injury frequency rate (LTIFR) is zero. PHC sets a target of zero work-related fatality rate.	TTA's lost time injury frequency rate (LTIFR) is zero, achieving the set target. TSS's lost time injury frequency rate (LTIFR) is zero, achieving the set target. PHC's work-related fatality rate is zero, achieving the set target.	Occupational Health and Safety
Human Capital Development			Encouraging employees to have appropriate knowledge and abilities will help drive the business to develop in the long term. The Group is committed to enhancing the capabilities and skills of its workforce, as well as providing good experiences and well-being to employees.	Retain knowledgeable and capable employees within the Group, provide equal career advancement opportunities to build employee engagement within the Group. Promote the quality of life and well-being of employees without discrimination and respect the rights of all employees.	TTA sets a target of average of at least 70 percent of employees to attend training in 2024. TTA sets a target of an employee satisfaction rate of over 70 percent and employee engagement rate of over 60 percent. PHC has set a target of 80 percent for the employee engagement assessment.	The average number of TTA employees attending training in 2024 for TTA is 71.43 percent of employees, achieving the set target. TTA result of the employee satisfaction is 78.72 percent and the employee engagement is 72.75 percent, achieving the set target. PHC has an employee engagement assessment with a score of 74.8 percent, failing to meet the set target.	Human Capital Development
Quality and Safety of Products and Services			The Group recognizes that product and service safety is as critical as quality. We are committed to ensuring our offerings deliver positive customer experiences, thereby maintaining and expanding our customer base.	PHC provides safety standards control both at the storefront and from various raw materials of partners, referencing the standards of Yum! Brands, Inc. In case of customer complaints, corrective actions must be taken along with root cause analysis and prevention methods in cooperation with the Quality Assurance department.	STC aims to successfully serve one customer, complete all steps within 4 minutes.	STC can successfully serve 1 customer, completing every step within 3.6 minutes, achieving the set target.	Quality and Safety of Products and Services
Customer Relationship Management and Complaint Management			The Group recognizes that a good relationship between the Group and customers is crucial for business operations. Effective, and continuous relationship management is therefore essential and should be rigorously implemented. In addition, handling various complaints is also important in order to listen to the voice of the customer and to improve operations.	PHC enhances customer satisfaction assessment using the Win Score Method, which considers direct surveys, information from delivery service providers, and online rating information. PHC has a process for managing complaints to listen to comments, suggestions, and complaints related to products and services.	PHC sets a target of 64 percent overall customer satisfaction. PHC aims to deliver products to customers quickly and while the products are still hot within 30 minutes.	PHC received an overall customer satisfaction rating of 81 percent, achieving the set target. PHC was able to deliver products within an average time of 32.4 minutes, failing to meet the set target.	Customer Relationship Management and Complaint Management
Value Chain Management			The Group emphasizes responsible supply chain management, which includes proactively addressing potential sustainability impacts across its value chain. The Group is well aware that various impacts may cause damage to the Group's business. Therefore, sustainable and responsible supply chain management, free from risks in all aspects, is what the Group intends and prioritizes.	The Company prepared a Supplier Code of Conduct, covering guidelines for the sustainable operations of business partners, selection of business partners, and criteria for grouping business partners.	TTA' suppliers have no violations of the Company's business partner requirements.	TTA' suppliers have no violations of the Company's business partner requirements, achieving the set target.	Value Chain Management
Cybersecurity and Data Privacy			Currently, work operations have increasingly adopted digital systems. The risks that come with digital systems are inevitable. Therefore, cybersecurity and digital system security are another important aspect that the Group is committed to strengthening to prevent potential problems, such as personal data leaks, attacks, or data theft, which may cause damage to organizational assets, such as sensitive information, or damage the organization's reputation.	Increase cybersecurity capabilities in protecting personal data by monitoring, analyzing, and assessing threats. Improve information and cybersecurity management policies. Increase knowledge and understanding of cybersecurity for directors, executives, and employees. Implement a Phishing E-mail attack simulation project.	No TTA employees become victims, deceived in the Phishing E-mail attack simulation project within 2 years from the start of the Phishing E-mail attack simulation project.	The results of the Phishing E-mail attack simulation project in 2024 showed that there were 10 TTA employees who failed the test (became victims), a decrease of 40 percent from 2023, failing to meet the set target.	Cybersecurity and Data Privacy
Research and Innovation Development			Amidst the changing trends of the world, developing the capabilities of business operations to keep up with change is essential. The Group recognizes the importance of this, therefore, it aims to research and develop innovations that are aligned with each business group, with the aim of increasing competitiveness. The Group also provides opportunities for employees to participate in creating organizational innovations to ensure that the resulting innovations meet the needs of both customers and employees.	Adopting new technologies and innovations in business operations to support the development of new products and increase operational efficiency. Promote innovation collaboration with other agencies to support the realization of innovation.	TTA expands investment in research and innovation compared to the previous year	TTA has expanded investment in research and innovation compared to the previous year, such as electric commercial vehicles, etc., achieving the set target. TSS has installed a device to help increase ship speed, which can save fuel consumption by approximately 2-4 percent. PHC improved the Frozen Dough raw material innovation, helping to obtain products with consistency, reducing the shop's working time in preparing the dough, and reducing food waste in case the shop has low product sales.	Research and Innovation Development
Enterprise Risk and Crisis Management			Good risk management will enable the organization to operate for the long term. Because it will help the organization prepare to deal with changes in various aspects that may occur effectively. Therefore, the Group places importance on comprehensive risk management, creating stability in business operations and preparing to deal with unexpected events so that the business can continue sustainably.	The Company has a risk management policy and framework, including supervising agencies in the Group to comply with the organization's policy framework. The Company has created a corporate culture to encourage employees to be aware of risks that may occur during work and to manage risks appropriately.	TTA aims to train 70 percent of employees on risk management.	Directors, executives, and employees of TTA have been trained on risk management, equaling 33.33 percent, 100 percent, and 71.43 percent, respectively, achieving the set target.	Enterprise Risk and Crisis Management