Report of the Risk Management Committee Dear Shareholders, 2023 marked another year in which GC was faced with a series of complex, unpredictable, and unavoidable business events and circumstances, including geopolitical conflicts such as the ongoing Russia-Ukraine conflict and the war between Israel and Hamas, as well as concerns over an impending economic recession, all of which led to high volatility in product prices and spreads. To address this, GC implemented a number of measures to manage and minimize the impact of these risks on the achievement of its objectives in different dimensions so as to overcome crises, maintain its competitiveness, and achieve sustainable growth. The Risk Management Committee consistently monitored and provided comments and suggestions on GC’s risk and crisis management measures covering short-term and long-term key risks as well as emerging risks that may affect the business in the future in order to ensure GC has in place an effective risk management system, which can mitigate impacts of such risks as well as bring business opportunities and create value to the business and stakeholders sustainably. In 2023, the Risk Management Committee performed its full duties within its scope of roles and responsibilities as prescribed in its charter. The Committee convened a total of five meetings to review, provide comments and suggestions on, and acknowledge agenda items, as summarized below. Monitoring and providing comments and suggestions on the progress of GC’s corporate risk management, which consisted of a summary of external factors, risk trends, a summary of GC’s corporate risks for the years 2023 and 2027, and risk management measures; and reporting the performance of the Risk Management Committee to the Board of Directors for acknowledgment on a regular basis to ensure the adequacy, suitability, and timeliness of GC’s measures and gain opportunities to generate value for the business in a sustainable way. Providing recommendations and monitoring the outcome of commodity hedging for price and spread risk management as well as FX hedging on a monthly basis to ensure that the measures were flexible and suitable for the situation. Providing comments and recommendations on the risk management measures of significant large-scale investment projects as supplementary data for the Board of Directors in their decision-making process. Reviewing the risks and corresponding management measures for the year 2024 and 2028 to ensure GC’s ability to maintain such risks within its risk appetite as well as alignment with the established risk management policy, economic circumstances, industrial trends, and sustainable business practices, with the ultimate goal of ensuring that GC’s capability to achieve its strategic and business goals under more volatile and complex circumstances. Reviewing data on risk management and risk factors in Form 56-1 One Report to instill confidence among shareholders in GC’s risk management guidelines and analysis of significant risks that could impact the achievement of its strategic and business goals as well as the adequacy of its management measures. Reviewing the Risk Management Committee Charter, the risk management policy, the risk appetite, and the risk management frameworks and practices, consisting of management frameworks for corporate risks, price and spread risks, foreign exchange risks, subsidiaries risks, and investment risks, to ensure their applicability to the business circumstances and flexibility for proper implementation. 219 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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