TTA Group’s Sustainability Materiality Assessment

The Group has recognized the importance of the management approach being aligned with the material topics, which have been considered by both the Group and its stakeholders. These material topics are of significant interest and are expected to have better operations on that topic. Consequently, to review the importance of change in any topics of the Group's sustainability issues, a materiality assessment has been conducted by considering alignment with the Group's strategy, stakeholder expectations, and adherence to the Global Reporting Initiative (GRI) guidelines. The materiality assessment not only reflects the impact of the environment, social, and governance and economic dimension on the Group but also reflects stakeholders' influences on the decision-making throughout the business value chain, which will lead to effective business management. The materiality assessment is reported and approved by the Board of Directors. There are 4 main materiality assessment steps, which are shown below.

1. Materiality Identification	2. Materiality Prioritization
The Group researches, reviews, and analyzes sustainability issues related to business groups covering environment, social and governance and economic dimensions by considering international standards, requirements, sustainability practices, global sustainability trends, and the topics that industrial companies pay attention to the most, which are compatible with the context and actions of the organization's sustainability operation. Positive and negative effects, expectations, comments from stakeholders and their supporting information have also been considered. In 2023, the Group was able to identify a total of 14 materiality topics.	To identify material topics, follow the international reporting standards (GRI), and conducting materiality prioritization is considered as part of the materiality assessment process. There are 2 perspectives to be considered in prioritizing material topics: 1) opportunities and impacts on creating value for the Group, and 2) interest, perspectives, impacts, and importance to stakeholders. The Group has analyzed and prioritized material topics by asking all 9 groups of the stakeholders via online questionnaire, and the result of materiality prioritization in 2023 is shown in the Material Matrix figure below.

1. Materiality Identification

2. Materiality Prioritization

The Group researches, reviews, and analyzes sustainability issues related to business groups covering environment, social and governance and economic dimensions by considering international standards, requirements, sustainability practices, global sustainability trends, and the topics that industrial companies pay attention to the most, which are compatible with the context and actions of the organization's sustainability operation. Positive and negative effects, expectations, comments from stakeholders and their supporting information have also been considered. In 2023, the Group was able to identify a total of 14 materiality topics.

To identify material topics, follow the international reporting standards (GRI), and conducting materiality prioritization is considered as part of the materiality assessment process. There are 2 perspectives to be considered in prioritizing material topics: 1) opportunities and impacts on creating value for the Group, and 2) interest, perspectives, impacts, and importance to stakeholders. The Group has analyzed and prioritized material topics by asking all 9 groups of the stakeholders via online questionnaire, and the result of materiality prioritization in 2023 is shown in the Material Matrix figure below.

3. Materiality Validation	4. Materiality Review
After the materiality prioritization process, the topic will be submitted to the Sustainable Development Working Group and Sustainable Development Committee for their acknowledgment and validation and proposed to the Board of Directors for further consideration and approval. As a result, the Board of Directors has reviewed the principal issues that have the potential to impact the Group as well as internal and external stakeholders. The Board of Directors has also approved material topics that will be disclosed in Sustainability Report and the Company's website.	To facilitate sustainable development practices throughout the Group, the Group has a follow-up process to monitor materiality topic management and to ensure the disclosure of the actual performance on that topic meets the reporting standards and requirements and a comprehensive understanding of the current operational situation of the Group. The follow-up is reported to the Sustainable Development Committee and the Board of Directors regularly to review and improve the topics that are significant to the Group and are the most suitable for situations that may change in future business operations.

3. Materiality Validation

4. Materiality Review

After the materiality prioritization process, the topic will be submitted to the Sustainable Development Working Group and Sustainable Development Committee for their acknowledgment and validation and proposed to the Board of Directors for further consideration and approval. As a result, the Board of Directors has reviewed the principal issues that have the potential to impact the Group as well as internal and external stakeholders. The Board of Directors has also approved material topics that will be disclosed in Sustainability Report and the Company's website.

To facilitate sustainable development practices throughout the Group, the Group has a follow-up process to monitor materiality topic management and to ensure the disclosure of the actual performance on that topic meets the reporting standards and requirements and a comprehensive understanding of the current operational situation of the Group. The follow-up is reported to the Sustainable Development Committee and the Board of Directors regularly to review and improve the topics that are significant to the Group and are the most suitable for situations that may change in future business operations.

TTA Material Matrix

The Group has grouped material topics into 3 dimensions, covering Environment dimension, Social dimension, and Governance and Economic dimension to develop an approach for sustainability management of the Group. The level of importance of each material topic is shown as follows.

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Environment dimension	Social dimension	Governance & economic dimension
8. Energy Efficiency	12. Occupation Health and Safety	1. Product and Service Safety
9. Water Management	13. Human Capital Development	2. Customer Relationship Management
10. GHG (Greenhouse gas) Emissions and Climate Change Strategy	14. Human Rights Due Diligence	3. Value Chain Management
11. Waste Management		4. Cyber Security and Data Privacy
		5. Research and Innovation
		6. Enterprise Risk & Crisis Management
		7. Quality management of services and complaints

From the 14 materiality topics, the Group use these topics to determine the direction of the Group's sustainable development strategy in 2023 and to be the guideline for the content disclosure in Form 56-1 One Report and Sustainability Report of the Company.

In the year 2023, the Company has established the Sustainability Report, which shows the development and business operation of the Group under the influence of Environment, Social, and Governance and Economic (ESG) factors. Thus, this report is one of the procedures that drive the Group toward sustainable growth through reviewing processes and continuous development.

Reporting Principles

In this sustainability reporting, the data were collected from 1 January to 31 December 2023 and the scope of reporting on the overall performance covered the information of the Group. This Sustainability Report was prepared in accordance with the Global Reporting Initiative (GRI) Standard: Core Option and additional disclosures, the Sustainable Development Goals (SDGs), and under the requirements of Thailand Sustainability Investment (THSI) or ESG Ratings.

All significant information disclosed in the report on the topic of driving businesses for sustainability will be reviewed, advised, and endorsed by the senior executives, Sustainable Development Committee, and the Board of Directors. This is to oversee the completeness of contents as well as being able to create value for all group of stakeholders of the Group. However, stakeholders can communicate their opinions, questions, or additional suggestions to the Company, and the information will be collected and used to develop and enhance the organization's sustainability performance disclosure to be more effective in the future.

Communication Channel

Company Secretary Office

Thoresen Thai Agencies Public Company Limited,
26/26-27 Orakarn Building, 7th Floor, Soi Chidlom,
Ploenchit Road, Lumpinee, Pathumwan, Bangkok 10330
Telephone : +66 (0) 2250-0569
Email: COR@thoresen.com