Materiality Assessment and Stakeholder Engagement

Identification of Material Sustainability Matters

The Company identifies material sustainability matters topics by considering its business activities throughout the value chain and stakeholder perspectives, while taking into account evolving sustainability contexts through reference to the following sources:

• GRI Sector Standard for Agriculture, Aquaculture, and Fishing (GRI 13)
• Sustainability disclosure standards and frameworks, including SASB, TCFD and TNFD
• Sustainability priorities identified by customers and industry peers
• Sustainability assessment criteria, applicable laws and regulations, as well as relevant reports and data sources

Prioritization of Material Sustainability Matters

The Company prioritizesmaterial sustainability matters by assessing the significance of actual and potential positive and negative impacts, incorporating feedback and perspectives from eight stakeholder groups — shareholders, employees, customers, business partners, communities, government agencies, civil society organizations, and media representatives — across the 12 countries in which the Company operates. In parallel, the Company assesses sustainability-related risks and opportunities through workshops with executives from each business unit, taking into account their likelihood and potential financial and operational effects. The assessment outcomes are subsequently used to prioritize material sustainability matters topics into three levels — high, medium, and low — across two dimensions: Impact Materiality and Financial Materiality.

Validation of Material Sustainability Matters

The Company engages with external experts on the identified material sustainability matters prior to the submission to the Corporate Governance and Sustainable Development Committee for review and approval.

Furthermore, the stakeholder inclusivity process and the impact materiality assessment are independently assured by LRQA, an external assurance provider, to verify that the assessment of material impacts is conducted in accordance with the GRI Standards.

Integration Into Corporate Management

The Company integrates sustainability considerations into its corporate strategy and enterprise risk management framework. Material sustainability matters assessed as having “high” priority are incorporated as Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) for the organization. These indicators are linked to performance evaluations and executive compensation considerations, reinforcing the integration of sustainability and risk management into the organization’s strategic decision-making process.