MATERIALITY ASSESSMENT In our commitment to continuously monitor ESG factors, we engaged an external consultant to facilitate a materiality assessment workshop in FY2024. This workshop aimed to uncover new ESG factors that may have arisen from recent global developments and to reaffirm the significance of the existing material ESG factors. With reference to the GRI 11: Oil and Gas Sector Standards, we continue to disclose the same material ESG topics which were newly introduced in FY2023, as indicated below. • GRI 205-2 Communication and training about anti-corruption policies and procedures • GRI 302-2 Energy consumption outside of the organisation • GRI 414-1 New suppliers that were screened using social criteria • GRI 414-2 Negative social impacts in the supply chain and actions taken During the workshop, the senior management team determined material topics based on the significance of their impact on the key concerns of our internal and external stakeholders. Our selected material topics take into consideration a survey of comparable peer companies, areas of concern in the oil & gas industry, and current sustainability themes. Based on the assessment, all 22 material topics were reviewed, with Emissions, Economic Performance, and Tax emerging as the top three priorities from the prioritisation process. In the coming years, the Company will work towards documenting and disclosing the following: a) The criteria for assessing the relevance and impact of material ESG factors on business operations, strategy, financial planning, and key stakeholders; and b) The process for ESG risk ranking and prioritisation, laying the groundwork for future integration into the ERM framework. The following steps were taken to present the relevant material topics in this Report: Identify factors by comparing our business to industry standards and assessing risks, opportunities, and stakeholder needs. Identify Rate Assess the relevance of each potential factor to the entities within the Group. Prioritise the most critical factors using a framework that evaluates their significance across the Group. Prioritise Validate Annually review and validate selected material factors to ensure ongoing relevance, and present them to the Board for approval. Annual Report 2024 7 2
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