Announcement No. EXC A67060

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Subject: Sustainability Risk Management Policies and Guidelines

Risk Management Policies

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             Asian Marine Services Public Company Limited recognizes the importance of risk management that could impact its business operations, including the organization’s sustainability risk factors. To this end, the Company has established a Risk and Sustainability Management Committee to oversee risk management to achieve the maximum efficiency. A working group, comprised of executives from each department, is also in place to assess and develop risk mitigation measures, and to continuously monitor risks. This risk and sustainability management framework is an integral part of good corporate governance and a key foundation for achieving the Company’s objectives. Identifying and managing risks supports sound decision-making, reveals opportunities, promotes sustainable organizational growth, and mitigates potential impacts on stakeholders.

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Objectives

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The Risk Management Policies aim to achieve the following objectives:

 

          1. To establish an operational framework for the Company’s risk management processes, to be implemented organization-wide.

          2. To ensure responsibilities for controlling identified risks are appropriately assigned.

Scope

       These policies apply to all operations of Asian Marine Services Public Company Limited and its subsidiaries, and is effective for all directors, executives, and employees.

Risk Management Policies and Guidelines

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          1. The Company has established an enterprise-wide risk management system and process including for its subsidiaries, to align with its strategies and business goals in accordance with international standards. This risk assessment comprehensively covers seven areas of risk:

1.1 Sustainability Risk

1.2 Strategic & Brand Risk

1.3 Operational & Supply Chain Risk

1.4 Financial and Liquidity Risk

1.5 Compliance Risk

1.6 Information Technology Risk

1.7 Emerging Risk/Crisis Management & Response

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          2. All executives and employees of the Company are risk owners responsible for identifying and assessing the risks within their respective units, and for establishing appropriate risk mitigation measures. The Company will manage risks to remain within its Risk Appetite – or ensure deviations do not exceed its Risk Tolerance.

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          3. The Board of Directors defines the Company’s policies, guidelines, and risk management framework, including its risk appetite. A working group comprised of executives from various divisions/departments is responsible for implementation, with support for various risk management activities from the internal audit department. The internal audit department also collects risk information and management approaches from the risk management and sustainability working group to analyze and prepare supplementary reports on risks and the progress of risk management plans, for submission to the Risk Management and Sustainability Committee.

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          4. Risks that impact the achievement of all Company objectives must be addressed as follows.

- Identify risks promptly.

- Assess the likelihood of risk occurrence and the potential impact of such events.

- Risk Management in accordance with established risk management criteria, taking into account associated costs and the benefits of such management.

- Regularly monitor and review risk management to ensure the Company’s risks are appropriately managed.

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          5. Risks that may affect the Company’s business plans and strategies, all of which are rated as high or very high risk, must be reported to the Risk Management and Sustainability Committee, the Audit Committee, and the Board of Directors for acknowledgment.

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Therefore, this announcement is made for all employees’ acknowledgment.

Announced on December 23, 2024.

  -Signature -

(Mr. Suradej Tanpaibul)

Chief Executive Officer