Press Metal Annual Report 2023

Press Metal at a Glance Press Metal at a Glance Press Metal Aluminium Holdings Berhad 2 3 Integrated Annual Report 2023 ABOUT THIS REPORT About This Report SCOPE AND BOUNDARIES This IAR 2023 covers the financial year from 1 January to 31 December 2023 (“FYE2023”), unless otherwise stated, encompassing disclosures of the Group’s activities, including subsidiaries, joint operations, joint ventures and associates, where relevant. In demonstrating our commitment to creating value for stakeholders over the short, medium and long term, we adopt an integrated and comprehensive reporting approach that takes into account: • Business Performance: Providing a holistic commentary on our financial and non-financial performance as well as insights into our future prospects (See pages 12-19 for more) • Stakeholder Engagement: Building engaging relationships with various stakeholders and integrating their expectations into our business strategies (See pages 26-28 for more) • Materiality: Prioritising key matters with the potential to influence our performance, based on global trends, industry developments and significant risks to our business (See pages 29-30 for more) • Key Capitals: Identifying and detailing inputs and outputs for each capital in our business model, and illustrating how they collectively generate value for our business ecosystem (See pages 38-39 for more) MATERIALITY Full disclosures regarding the assessment and determination of our material topics can be found in the Material Matters at Our Core section of IAR 2023. Our methodology for identifying material topics is outlined on page 29 of this IAR 2023. Essentially, we assess materiality based on the following criteria: • Topics that are crucial to financial value creation; and • Topics that are material to our stakeholders and contribute to indirect value creation REPORTING PHILOSOPHY AND FRAMEWORK This IAR 2023 stands as our primary report communicated to our stakeholders. We have prepared the report in accordance with the following frameworks, standards and guidelines: IAR 2023 • VRF’s <IR> Framework • Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) • Companies Act 2016 • Malaysian Code on Corporate Governance 2021 (“MCCG 2021”) • Corporate Governance Guide (4th Edition) of Bursa Malaysia Sustainability Report 2023 (“SR 2023”) • MMLR of Bursa Malaysia • Bursa Malaysia’s Sustainability Reporting Guide (3rd edition) • Global Reporting Initiative (“GRI”) Universal Standards 2021 • United Nations’ Sustainable Development Goals (“UN SDGs”) • FTSE4Good Bursa Malaysia Index’s Environmental, Social and Governance (“ESG”) Indicators • Task Force on Climate-related Financial Disclosures (“TCFD”) • United Nations Global Compact’s (“UNGC”) Ten Principles • Sustainability Accounting Standards Board (“SASB”) Sector-Specific Disclosures • Aluminium Stewardship Initiative (“ASI”) Performance Standard Version V3 (“ASI PS v3”) Corporate Governance Report 2023 (“CG Report 2023”) • MCCG 2021 • MMLR of Bursa Malaysia • Companies Act 2016 Financial Statements for FYE2023 • MMLR of Bursa Malaysia • Companies Act 2016 • International Financial Reporting Standards (“IFRS”) • Malaysian Financial Reporting Standards (“MFRS”) FORWARD-LOOKING STATEMENTS This IAR 2023 contains forward-looking statements concerning the Group’s financial position, future prospects, targets and business strategies. Although these statements and forecasts are grounded in reasonable and current assumptions and circumstances, they do not serve as guarantees for future results; actual outcomes may differ due to various events, risks, uncertainties and other factors. Therefore, our readers are advised not to place undue reliance on these forward-looking statements. ASSURANCE The financial disclosures and reports presented in the Financial Statements section of this report have undergone independent auditing by KPMG PLT. To uphold the consistent accuracy and reliability of our report, we have enlisted an independent third party, Grant Thornton Malaysia PLT, to provide external assurance on our SR 2023. This limited assurance specifically pertains to selected sustainability performance data and data collection processes related to environmental management and occupational health and safety, which includes the following five (5) indicators: 1. Greenhouse Gas (“GHG”) emissions (Scope 1 and 2) 2. GHG emissions intensity (Scope 1 and 2) 3. Total energy consumption 4. Number of work-related fatalities 5. Lost-Time Injury Frequency Rate (“LTIFR”) BOARD RESPONSIBILITY STATEMENT The Board of Directors (“Board”) of PMAH acknowledges its responsibility in ensuring the integrity and credibility of this IAR 2023. This IAR 2023 has been prepared in line with good governance practices and is guided by the VRF’s <IR> Framework. In the Board’s assessment, the IAR 2023 adequately addresses materials that matter to the Group’s performance and its ability to create value. This IAR 2023 has been approved by the Board. NAVIGATION ICONS Our 6 Capitals Financial Capital FC Intellectual Capital IC Natural Capital NC Manufactured Capital MC Human Capital HC Social and Relationship Capital SRC Our Material Matters Sustainability Theme 1: Upholding Good Governance and Economic Resilience M1 Economic Performance M2 Business Ethics and Corporate Governance M3 Regulatory Compliance M4 Responsible Sourcing M5 Product Quality and Customer Satisfaction M6 Sustainable Manufacturing M7 Risk Management M8 Customer Data Privacy & Information Technology Sustainability Theme 2: Caring for the Planet M9 Climate Change M10 Waste M11 Material Stewardship M12 Water and Effluents M13 Biodiversity Sustainability Theme 3: Empowering Our People and Enriching Our Communities M16 Diversity and Inclusivity M14 Occupational Health and Safety M17 Talent and Labour Management M15 Human Rights M18 Community Management We are pleased to present the inaugural Integrated Annual Report 2023 (“IAR 2023”) of Press Metal Aluminium Holdings Berhad (“PMAH” or the “Company”) and its subsidiaries (collectively referred to as “Press Metal” or the “Group”), marking the beginning of our integrated reporting (“<IR>”) journey. The IAR 2023 provides a comprehensive overview of our financial and non-financial performance, integrating our operational performance, strategic priorities, current environmental risks and challenges, governance practices and future prospects. It is aligned with the Guiding Principles and Content Elements of the <IR> Framework under the Value Reporting Foundation (“VRF”), ensuring transparency and accountability in our reporting practices. Through this IAR 2023, we diligently communicate our efforts to embed sustainability and enhance business resilience, aiming to create sustained value to our stakeholders. Our Stakeholders Local Communities Media/ Analysts Key Senior Management Suppliers/ Contractors/ Service Providers/ Consultants Customers/ Distributors Business Partners Employees Capital Providers (Financiers, Shareholders, Investors) Government/ Regulatory Authorities REPORTING SUITE Scan the QR code or visit our website at www.pressmetal.com to read our IAR 2023. FEEDBACK AND CONTACT POINT We are committed to continuously improving the quality of our reporting. We highly value and welcome your feedback and input to enhance our reporting journey. If you would like to submit feedback about this report or request further clarification, please email: corpcomm@pressmetal.com.

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