Materiality Topics

Management Approach

IRPC conducts an annual materiality assessment in accordance with the Global Reporting Initiative Standards (GRI Standards) to identify sustainability topics that are most significant to the Company and its stakeholders. This assessment is refreshed every year by integrating stakeholder expectations and concerns, industry trends, relevant standards and regulations, and recognized national and international best practices. IRPC also reviews how sustainability impacts evolve under changing internal and external contexts, and uses the analytical outcomes to define, develop, and continuously refine sustainability targets and strategies.

Building on this foundation, IRPC has strengthened our materiality process through a Double Materiality Assessment (DMA) approach. This ensures that material topics are evaluated from two complementary perspectives: (1) Impact materiality the significance of IRPC’s actual and potential impacts on the economy, society, and the environment; and (2) Financial materiality sustainability-related risks and opportunities that could influence business performance, enterprise value, long-term resilience.

The DMA outcomes are systematically translated into ESG-related risk and opportunity themes, validated in coordination with corporate risk management team, and incorporated into the corporate risk management framework. This includes mapping material sustainability topics to principal enterprise risks, integrating them into the Risk Register, and assessing them using the same ERM criteria (e.g., likelihood, impact, time horizon, and mitigation measures). Through this integration, sustainability issues identified through the DMA are monitored and governed alongside strategic and operational risks, enabling consistent oversight and informed decision-making across the organization.

Double Materiality Assessment Process

1. Understand the Organization’s Context

2. Identify Actual and Potential Impacts

3. Assess the Significance of the Impacts

4. Prioritizing Material Impacts

The Company conducts a comprehensive analysis of our business context by considering internal factors such as objectives, values, strategies, organizational structure, operational activities, and stakeholders throughout the value chain, as well as external factors including industry trends, legal and regulatory developments, and relevant standards. IRPC also considers stakeholder expectations and concerns, including those of shareholders and investors, employees, customers, suppliers and business partners, communities and society, government agencies and regulators, and creditors and financial institutions. Information is gathered through surveys and interviews. All factors are analyzed to identify and prioritize sustainability issues that are most significant and relevant to the Company.

The Company identifies actual and potential impacts arising from material economic, environmental, stakeholder, and human rights issues. These impacts may be positive or negative and may occur in the short term or long term across all operational activities throughout our value chain.

The Company applies to the Double Materiality approach, considering both external impacts on society or the environment and internal impacts on enterprise value. Accordingly, economic, environmental, stakeholder, and human rights impacts are assessed alongside business-related risks and opportunities. Each issue is then prioritized through stakeholder engagement processes, taking into account severity (scale, scope, and irremediability) and the likelihood of occurrence.

Following the analysis of significance levels, the Company prioritizes sustainability issues and validates the results through benchmarking against leading environmental, economic, social, and governance (ESG) frameworks and organizations, such as the Global Reporting Initiative (GRI), Dow Jones Sustainability Indices (DJSI), World Economic Forum, World Business Council for Sustainable Development (WBCSD), UN Global Compact, and the Stock Exchange of Thailand, among others, to ensure completeness of the assessment. The identified issues are presented to the Sustainability Development Committee (SDC) for consideration and approval and subsequently reported to the Board level for acknowledgment by the Corporate Governance and Sustainability Committee. In addition, the sustainability materiality assessment process is independently verified by a third-party assurance provider to enhance credibility and transparency.

Double Materiality Matrix

In 2025, IRPC conducted the annual materiality assessment in accordance with the GRI Standards and the Double Materiality approach. The assessment considered Company operations, stakeholder expectations, impact significance, and global sustainability trends. The assessment identified 16 Materiality Issues, consistent with the previous year. Each issue was evaluated based on its impact on both the business and the environment and society. The issues were categorized into two groups: Significant Materiality Issues and Fundamental Materiality Issues, determined based on the level of impact on the business as well as environmental and social dimensions.

Materiality Topics Management

IRPC communicates sustainability performance for each material issue to stakeholders through the Company’s website under the Sustainable Business section, the Annual Report/2025 Form 56-1 One Report, and the Sustainability Report. The Sustainability Report is prepared in accordance with the disclosure requirements prescribed for Form 56-1 One Report by the Securities and Exchange Commission, as well as the reporting guidelines of the Global Reporting Initiative (GRI).

The determination of report content, details of material issues, scope of impacts, alignment with the Sustainable Development Goals (SDGs), and disclosure channels are presented in the following tables: