Press Metal Aluminium Holdings Berhad SECTION 3 • CHARTING THE PATHWAY TOWARDS EXCELLENCE 32 Material Matters at Our Core Our FYE2024 Materiality Matrix reflects the following changes to the importance of specific material matters in comparison to FYE2023: • Economic Performance has been redefined as Economic and Financial Resilience, reflecting Press Metal’s dedication to maintaining financial stability and business resilience. This shift underscored the Group’s strategic readiness to ensuring effective navigation of challenges, strengthening of our market position, and supporting long-term strategic goals in a dynamic global landscape. • Regulatory Compliance has risen in priority, shifting from medium to high, driven by the introduction of new sustainabilityrelated legislation. These include Malaysia’s National Sustainability Reporting Framework, the EECA 2024 and the anticipated carbon tax set for 2026. These regulatory developments highlight the increasing significance of compliance and the need for accurate and transparent disclosure. In support of this, Regulatory Compliance has been redefined as Compliance Reporting and Disclosure. • The ranking of Business Ethics and Corporate Governance increased, which may be caused by heightened investor expectations, stricter regulatory requirements, and a stronger emphasis on transparency, ethical business conduct, and governance reforms to align with global best practices. • Climate change remains a high-priority material matter for Press Metal, given its far-reaching implications for business operations. While a comprehensive climate management framework is in place, emerging risks, operational challenges and tightening regulations could impact competitiveness. Additionally, the industry’s accelerated transition towards low-carbon aluminium production and the growing demand for sustainable solutions reinforce the need to adopt energy-efficient practices and expand low-carbon offerings. Adapting to these developments is essential for maintaining operational resilience and strengthening market position. Maintaining the relevance of our material matters amid an evolving business landscape, global trends, and stakeholder expectations is essential. Accordingly, a comprehensive double materiality assessment will be undertaken in 2025 to evaluate both financial and ESG impacts of Press Metal and proactively adapt our strategies to drive long-term sustainable value creation. The Board and Senior Management will continue to oversee all material matters, ensuring that risks and potential impacts are systematically assessed, and supporting the development of targeted strategies to mitigate risks while maximising positive outcomes. MATERIALITY MATRIX Sustainable Manufacturing M6 Risk Management M7 Material Stewardship M11 Human Rights M15 Waste M10 Responsible Sourcing M4 Customer Data Privacy and Information Technology M8 Biodiversity M13 Diversity and Inclusivity M16 Water and Effluents M12 Community Management M18 Medium Priority Significance of Press Metal’s impact Importance to Stakeholder M13 M18 M12 M16 M8 M4 M11 M9 M15 M17 M2 M3 M1 Upholding Good Governance and Economic Resilience Caring for the Planet Empowering Our People and Enriching Our Communities M5 M6 M14 M10 M7 Talent and Labour Management M17 Compliance Reporting and Disclosure M3 Business Ethics and Corporate Governance M2 Economic and Financial Resilience M1 Product Quality and Customer Satisfaction M5 Occupational Health and Safety M14 High Priority Climate Change M9
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