SUSTAINABILITY REPORT Cont’d MATERIAL MATTERS TO PRESS METAL 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 FY2022, in response to the dynamic changes in the business domain, an extensive materiality reassessment was conducted to ensure the relevance of existing material matters. The comprehensive materiality reassessment was performed in line with the methodologies outlined by Bursa Malaysia’s Sustainability Toolkit: Materiality Assessment (3rd Edition) and the GRI Standards. Identified Press Metal’s key internal and external stakeholders Created an inventory of material matters based on: Key risks and opportunities identified Stakeholder issues and concerns Matters raised during the 6th Annual General Meeting Sustainability reporting standards and guides (i.e. GRI Standards, Bursa Malaysia Sustainability Reporting Guide) Sustainability trends in the aluminium sector Peer benchmarking exercises Deployed a Materiality Assessment Survey to internal and external stakeholders to obtain inputs on the importance of each material matter Conducted a materiality assessment workshop to shortlist material matters and prioritise based on severity and likelihood of impact Developed the preliminary Materiality Matrix Presented the final Materiality Matrix to the Sustainability Committee and Risk Management Committee for validation Obtained approval from the Board for the Materiality Matrix Step 1: Identification Step 2: Prioritisation Step 3: Validation ANNUAL REPORT 2022 94
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