Integrated Annual Report 2024 SECTION 3 • CHARTING THE PATHWAY TOWARDS EXCELLENCE 31 MATERIAL MATTERS AT OUR CORE Understanding the evolving business environment is important for Press Metal to capitalise on existing and emerging opportunities as well as strategising plans to avoid or minimise potential or underlying risks that may affect the ability to generate value over time. Materiality assessment, which serves as a tool for the identification and prioritisation of sustainability matters, provides insights into matters that are important to the Group and our stakeholders. The outcome of which, underpins the basis for the development of Press Metal’s overall strategy, effectively addresses matters in a meaningful and objective manner. In FYE2022, we conducted a comprehensive materiality assessment through which 18 material matters were identified. The materiality assessment was performed in line with the methodologies outlined by Bursa Malaysia’s Sustainability Toolkit: Materiality Assessment (3rd Edition), the GRI Standards, as well as guidance from the Materiality Guiding Principle of the <IR> Framework. In FYE2024, we assessed the relevance of our existing 18 material matters by: • Identifying key risks and opportunities • Considering stakeholders’ issues and concerns • Considering matters raised during the PMAH’s 8th Annual General Meeting (“AGM”) • Considering sustainability reporting standards and guidelines (e.g., GRI Standards, Bursa Malaysia’s Sustainability Reporting Guide (3rd Edition)) • Considering global and local sustainability trends in the aluminium sector (spanning economic, environmental, social and governance issues) • Undertaking benchmarking against our industry peers STEP 1 Review Existing Material Matters The FYE2024 Materiality Matrix has undergone a thorough review by the Sustainability Committee and the Risk Management Committee to validate its relevance in the evolving business and sustainability landscape. Following this assessment, the FYE2024 Materiality Matrix was presented to the Board for approval. STEP 3 Review and Validation To ensure continued relevance, we revisited the outcome of the comprehensive materiality assessment, which was conducted in FYE2022, to evaluate the continued relevance of stakeholder input on key material matters. During the review, we reassessed the sustainability impact ratings of each material matter; evaluated them based on the severity of their impact and the likelihood of occurrence. From the assessment, the FYE2024 Materiality Matrix was refined, categorising material matters into two (2) tiers: high and medium. While low-priority matters are acknowledged, strategic efforts are directed towards high and medium-priority areas to align with business objectives and maximise impact. Based on the FYE2024 assessment, the priorities identified remained well-aligned with the evolving business landscape and sustainability agenda. STEP 2 Assess Importance to Business and Stakeholders
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