Dear All Stakeholders,

Message from the chairman

Throughout the year 2025, the Company operated amid challenges from volatility in the rubber glove industry by several external factors. These included the U.S. Reciprocal Tariff measures, the expansion of production capacity by various industry players that continued to intensify price competition, fluctuations in raw material prices, the appreciation of the Thai Baht, and flooding in areas surrounding some of the Company’s manufacturing facilities in Hat Yai District, Songkhla Province. However, the Company maintained its competitiveness effectively through a flexible production structure covering both natural rubber (NR) and nitrile rubber (NBR) gloves, as well as product diversification supported by research and development to meet customer needs. In addition, the Company expanded its market presence across different regions worldwide to achieve strategic balance, reduce the risk of reliance on a single market, and enhance long-term operational stability. In 2025, the Company recorded total revenue of THB 23,890.3 million, sales volume of 37,102 million pieces, and EBITDA (excluding special items) of THB 3,426.5 million.

Although the flooding in the southern region toward the end of the year was another significant event that affected the community, employees, and the Company’s operations, resulting in temporary shutdowns and damage at some of the Company’s manufacturing facilities, the Company promptly carried out systematic recovery efforts. These included repairing machinery, restoring operational areas, managing business continuity, ensuring employee welfare, and providing appropriate assistance to surrounding communities. Most facilities were able to resume operations within a short period of time. With the dedication and capabilities of our personnel, together with the Company’s operational strategies and the confidence and support from all stakeholders, the Company was able to recover from this incident in a stable manner and continue moving forward to drive strong and sustainable long-term growth. Most facilities were able to resume operations within a short period of time. With the dedication and capabilities of our personnel, together with the Company’s operational strategies and the confidence and support from all stakeholders, the Company was able to recover from this incident in a stable manner and continue moving forward to drive strong and sustainable longterm growth

Advancing Toward a Sustainable Supply Chain Leader Through the “TRACEABILITY” Mission

The Company strengthened its sustainability efforts through the “TRACEABILITY” mission in 2025, aiming to enhance a transparent and verifiable supply chain. This is achieved through the use of natural rubber raw materials that can be fully traced back to their origins and assessed under the EU Deforestation Regulation (EUDR) risk-evaluation framework at the plantation level, ensuring that the Company’s products use raw materials free from deforestation and comply with EUDR requirements, as well as any additional regulations that may arise in the future. The Company also promotes and supports collaboration with supply chain stakeholders to jointly enhance sustainability standards and meet global market needs. The Company has supplied EUDR-compliant gloves to more than 19 countries, with demand continuing to rise in the European market. In addition, the Sri Trang Group has elevated its FSC standards by integrating the EUDR requirements, enabling FSC certification under the FSC-STD-01-004 FSC Regulatory Module (FSC100%/Reg) since August 2025. This strengthens product credibility, enhances differentiation, and responds to increasing expectations from customers and consumers worldwide who place greater importance on sustainability. Moreover, the expertise gained in supply chain traceability enables the Company to effectively adapt to additional standards and regulatory requirements that may emerge in the future.

Integrating Sustainable Business Strategies Under the “Clean World Clean Gloves” Concept

In addition, as the Company has set a Net Zero target by 2050 to reduce greenhouse gas emissions in line with the Science Based Targets initiative (SBTi), the Company has implemented clear strategies and action plans, including energy-efficiency improvements, the transition to low-carbon technologies, and greenhouse gas sequestration through various activities. In 2025, the Company reduced greenhouse gas emissions per unit of product (Scope 1 and 2) by 12.72%, compared with the 2024 base year, and reduced organizational greenhouse gas emissions (Scope 1 and 2) by 17.24%, compared with the 2024 base year, achieving the planned targets. Furthermore, all of the Company’s manufacturing facilities completed greenhouse gas emissions verification in accordance with the requirements for carbon footprint calculation and reporting under the GHG Protocol. The Company also registered 24 product groups under the Carbon Footprint of Product (CFP) program with the Thailand Greenhouse Gas Management Organization (Public Organization).

The Company continued to promote the use of solar energy through the installation of Solar Rooftop and Floating Solar systems across all six manufacturing facilities, with a total installed capacity of 14.72 megawatts, increasing from 2.97 megawatts in 2024. The systems generate an average of 20,632 megawatt-hours per year, which is used in the production processes and office operations. This resulted in a reduction of 9,800 tCO2e per year in Scope 2 emissions from purchased electricity and generated electricity cost savings of approximately THB 81 million. Regarding key performance results under the Company’s energy management targets in 2025, the Company reduced electricity consumption per unit of product by 18.50%, compared with the 2019 base year, which is an improvement of 4.06% compared with 2024. For waste management, initiatives under various projects enabled the Company to reduce nonhazardous production waste disposed of via landfill per unit of product by 6.05%, compared with the 2024 base year. As a result of its environmental management performance, the Sadao P.S. facility received the Green Industry Level 4 (Green Culture) Award for 2025 from the Ministry of Industry. In addition, all of the Company’s manufacturing facilities continued to maintain ISO 14001 environmental management system certification, achieving 100% coverage in line with the Company’s sustainability targets.

In terms of sustainability-related investments, as of 31 December 2025, the Company had fully utilized the proceeds from the issuance and offering of its Green Bond, with a total amount of THB 1,500 million, enabling the Company to drive its operations in line with the established objectives and strategies. In addition, in 2025, the Company obtained a Sustainability-Linked Loan (SLL) in a total amount of THB 2,000 million, under which the loan interest rate is adjusted upward or downward each year based on performance against sustainability targets. These targets are linked to key sustainability indicators, including reducing greenhouse gas emissions (Scope 1 and 2) per unit of product by 20% by 2030 compared with the 2024 base year, and reducing non-hazardous production waste sent to landfill per unit of product by 50% by 2030 compared with the 2024 base year. The Sustainability-Linked Loan represents an important milestone that reflects the Company’s capability to drive business objectives through sustainability strategies integrated with financial strategies, while elevating corporate standards to an international level and maintaining the Company’s leadership in the global rubber glove industry in line with the “Clean World Clean Gloves” concept, reinforcing sustainable growth alongside environmental responsibility

Building a Sustainable Value Chain with Responsibility from Upstream to Downstream

The Company is committed to social responsibility throughout its business value chain by safeguarding labor rights, prohibiting child labor and forced labor, respecting human rights, and implementing other relevant practices. As a result, all of the Company’s manufacturing facilities have obtained key international certifications. The Company’s operations were also assessed for human rights risks and impacts at 100% coverage, in accordance with the Company’s sustainability targets. In addition, the Company places strong emphasis on occupational health and safety, operating in accordance with the ISO 45001:2018 standard. The Company achieved zero work-related fatalities and zero occupational illnesses, meeting its established targets. The Company also supports the enhancement of employee skills and capabilities to ensure alignment with its mission and development strategies, particularly in the areas of artificial intelligence (AI) and digital tools. The Company is promoting AI adoption across its operations and strengthening workforce readiness through initiatives such as the launch of the “AI Clinic,” which provides employees with a platform to present AI-related ideas and receive guidance from AI specialists for practical application. In 2025, the Company supported and organized 2,292 training courses, with a total expenditure of THB 9.22 million.

The Company also implements CSR policies and activities that promote sustainable coexistence with local communities by building knowledge, creating jobs, and distributing income to the community in response to stakeholder expectations. Examples include the project developed from the stingless bee farming initiative, which expanded into the production of stingless bee honey under the brand “1,000 Kesorn.” The Company supported the project by providing product branding design and sharing knowledge on online sales channels to enhance market opportunities and strengthen community sustainability. In 2025, the project helped reduce costs and generate a total income of THB 96,480 for community members, with a Social Return on Investment (SROI) of 4.60 times. Following the flooding in the southern region in November 2025, the Company carried out relief operations to support affected communities. Assistance included the distribution of drinking water and more than 1,300 relief packages, as well as the deployment of employee volunteers and fire trucks to clean communities, schools, and hospitals in more than 25 locations. The Company also donated funds to public health agencies and provided over 900,000 pieces of medical and generalpurpose rubber gloves to government agencies, field hospitals, and evacuation centers across Songkhla, Yala, Pattani, and Narathiwat. The Company also prioritized the welfare and safety of both permanent and daily employees. Relief measures included the distribution of food and essential supplies, financial assistance, and employee home cleaning support. In addition, the Company established the Sri Trang Community Kitchen and temporary shelters to support employees affected by the flooding, providing food, clean and safe accommodation, and 24-hour nursing care.

The Company places importance on its business partners in both commercial and corporate governance aspects. The Company expanded its transparent business network to suppliers under the CAC Change Agent project, with more than 10 suppliers joining in the first year to declare their commitment to anti corruption. As a result, the Company was certified as a CAC Change Agent member and received the CAC Change Agent Award 2025. The Company also communicated its Code of Conduct to all business partners, all of whom, representing 100 percent, acknowledged and signed the Code of Conduct. In addition, the Company conducted business ethics and labor standards audits in accordance with the SMETA Sedex Members Ethical Trade Audit standard and completed 100 percent ESG risk assessments covering environmental, social, and governance issues across supplier operational sites, in line with its sustainability targets. Moreover, the Company conducts business ethically and maintains strong collaboration with its partners, resulting in the Company receiving the SX TSCN Sustainability Award 2025 for the second consecutive year from the Thailand Supply Chain Network TSCN, as well as the Platinum Business Partners Award for the second consecutive year and the Business Partner of the Year 2025 Award from Thai Beverage Public Company Limited. These recognitions reflect the trust and confidence of business partners in fostering collaboration to deliver value to consumers and to advance the industry toward sustainable development.

In terms of customer relations, the customer satisfaction survey result was 85.69 percent, which exceeded the target of 80.0 percent. The Company has made its best efforts to ensure that customers receive prompt responses and has analyzed customer feedback to identify root causes for improvement and prevention. The Company also places great importance on safeguarding customer confidentiality and does not use customer information for its own benefit or for the improper benefit of any related parties. Throughout the reporting period, there were no complaints related to customer personal data, and the Company successfully maintained the security of personal data with zero data breach incidents. The Company also complied 100 percent with the requirements of the Personal Data Protection Act B.E. 2562 (PDPA), in line with its sustainability targets

Strengthening Corporate Governance through Technology and International Standards

The Company assessed its internal control system with reference to the international standards of the Committee of Sponsoring Organization of the Treadway Commission COSO 2013. The Company also assessed the quality of its internal audit function in accordance with the Quality Assurance and Improvement Program QAIP. The Audit Committee concluded that the Internal Audit Department operates in alignment with international internal auditing standards. In addition, the Company adopted Power BI as a data analytics tool to analyze user access rights in the SAP system, helping enhance the quality and efficiency of internal audit activities in accordance with international internal auditing standards. For risk management, the Company achieved certification under the business continuity management standard ISO 22301 2019, demonstrating effective performance in this area. In 2025, the Company reviewed and assessed Enterprise Risk Management ERM and updated the risk ranking to align with the Company’s business conditions and environmental factors during the year. The Company identified risk factors that include emerging risks and environmental, social, and governance ESG risks, and also analyzed and assessed risks, opportunities, business impacts, and financial impacts related to climate change.

For technology and artificial intelligence AI development, the Company has adopted AI and Internet of Things IoT technologies to analyze and improve production processes, and has placed importance on the use of AI Agents, particularly in office operations. In addition, in 2025, the Sri Trang Group established a data governance policy and operating procedures, which represent an important part of preparing the corporate data infrastructure to ensure effective management of data as a key organizational asset. This not only supports faster and more accurate decision making, but also enhances business credibility and strengthens the Company’s long term competitiveness, moving toward becoming a data driven organization. The Group Company’s AI development has progressed as planned, with preparations in place for data, infrastructure, and processes to support the expansion of AI adoption in the future. This aligns with the development direction for 2026, in which the Company is committed to the mission “Empowering AI: The Power of Artificial Intelligence” to promote the application of AI across all areas of the organization. The Company also places emphasis on developing manufacturing AI technologies to enhance efficiency, accuracy, and innovation in production processes, with the goal of expanding these capabilities across all operational dimensions in the future.

From the Company’s effective performance in corporate governance and sustainability, the Company received several awards and rankings at both national and international levels. These include the Best Sustainability Awards in the Consumer Products category from the Stock Exchange of Thailand at the SET Awards 2025, and the ranking as a Sustainability Yearbook Member in the Healthcare Equipment and Supplies sector in the S and P Global Sustainability Yearbook 2026. The Company also received an ESG Risk Rating assessment from Morningstar Sustainalytics, which rated the Company’s ESG risk level as low

On behalf of the Board of Directors, I would like to express our appreciation to all shareholders, customers, business partners, and stakeholders for your continued confidence in and support for the Company. I would also like to thank all employees for their dedication and collective effort in fulfilling the Company’s mission and objectives, which drive the organization toward industry leadership. The Company remains committed to creating both value and worth through continuous capability enhancement and development. We will continue to bring opportunities and strong performance to the organization, stakeholders, and society, ensuring that we grow sustainably together.