Sustainability Report Stakeholder Engagement Platform Areas of Interest Our Commitment Media • Ongoing engagement sessions and interviews • AGM and EGM • Press release and coverage • Press conference • Company's performance and outlook • Business risks • Sustainability matters We continue to make the greatest possible difference through transparent and active engagement with media partners and interest groups. Materiality Assessment Materiality assessments are integral to our sustainability journey, as they enable us to evaluate the Environmental, Social and Governance (“ESG”) issues that affect our business and our stakeholders. We conduct a materiality assessment once every two years to ensure that the ESG issues and material matters we look into remain relevant and aligned with current sustainability trends, industry developments and regulatory shifts. It also allows us to identify opportunities and mitigate risks posed by each material matter. In 2023, we re-evaluated our ESG material issues following the consolidation of Business Units under Wasco Berhad. Our material matters represent key sustainability issues that will affect our business strategy and stakeholder value creation in the short and long term. The following infographic explain the steps taken in our materiality assessment process. In company operations For our customers With communities • running a safe, efficient and profitable business • meeting expectations and delivering our commitments • sharing benefits wherever we operate and making positive contributions Existing material matters were reviewed against SASB Standards’ Common Material Matters for the industry we operate in and Wasco’s business strategies and operations to ensure relevance to our business and stakeholders. Inputs from stakeholders’ perspective were reviewed and assessed (based on engagement conducted in FY2023). A sustainability impact assessment was conducted to assess and prioritise the material matters. The results of stakeholder engagement and the sustainability impact assessment were consolidated into a materiality matrix. From this matrix, we identified the top material matters. After completing the materiality assessment exercise, we presented the materiality matrix to Wasco’s Management Team and the Board for approval. PHASE 1 Review Material Matters PHASE 2 Stakeholder Engagement PHASE 3 Sustainability Impact Assessment PHASE 4 Calibration of Stakeholder Engagement and Impact Assessment PHASE 5 Review and Approvals Shareholders and Investors Employees Media Customers Vendors/ Suppliers Regulators and Authorities 58 Integrated Annual Report 2023
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