Material Issues Assessment

Tata Steel (Thailand) Public Company Limited has been conducting stakeholder engagement and materiality assessments continuously since the financial year 2018, with the process being reviewed every three years to strengthen understanding of material sustainability issues and stakeholder expectations across all stakeholder groups. In the financial year 2023, the Company refreshed
its Materiality Assessment through a parallel approach comprising assessments conducted by an independent agency together with references to international standards and best practices. The outcomes of the assessment have been integrated into the Company’s sustainability strategy
from the financial year 2024 onwards. The Company plans to conduct another materiality assessment in the financial year 2026 to further align the material topics with the Double Materiality Assessment principles (DMA). This assessment will be conducted in collaboration with Tata Steel Group companies in India, the United Kingdom, and the Netherlands.

1. Material Issues and Stakeholders Identification

The Company gathers information on material sustainability issues relevant to the business from both internal and external stakeholders through various engagement channels appropriate for each stakeholder group, such as meetings, formal and informal interviews, and surveys. In addition, the Company considers key issues from the management perspective by referring to the Tata Steel Group’s vision, challenges encountered during the past year, long-term business plans, enterprise risk management systems, as well as external factors representing both opportunities and risks, including global sustainability trends, relevant standards and regulations, government strategies, and stakeholder needs andexpectations. The Company also reviews issues identified in previous years together with the significance level of each issue to ensure that operations continue to address the most critical topics for long-term sustainable value creation.

2. Material Issues Prioritization

The Sustainable Development Committee jointly considers the categorization and prioritization of
material issues by assessing the levels of impact on the Company’s operations and value creation across
economic, environmental, and social dimensions, as well as the levels of influence on stakeholder assessments and decision-making, in accordance with the Global Reporting Initiative (GRI) Standards, before concluding the Materiality Matrix.

3. Material Issues Review

The management reviews the assessment results to ensure that prioritization appropriately reflects issues of significance to both the Company and stakeholders in a balanced manner before proposing them to the Corporate Social Responsibility and Sustainability Committee for review and approval.

4. Material Issues Validation and Approval

The Corporate Social Responsibility and Sustainability Committee considers and approves the material issues and their prioritization, while also establishing guidelines for responding to stakeholder expectations on each issue and assigning relevant executives to implement the established approaches. Key performance indicators and targets are defined for each issue in order to monitor and evaluate performance at the corporate, functional, and departmental levels, including linking the results to
the performance evaluation of relevant executives and employees.