Risk Management Report

WICE Logistics Public Company Limited places great importance on the governance of corporate risk management as a crucial tool for addressing various risk factors, both internal and external to the organization. These include factors such as global economic volatility, as well as uncertainties and new risks that are becoming increasingly complex and severe compared to the past, impacting the Company’s operations. This includes the current geopolitical situation and global business competition, which are sensitive and subject to rapid change. Therefore, the Company emphasizes the development and improvement of risk management processes, as well as continuously raising awareness of risk management among employees at all levels. This is aimed at fostering a risk management culture throughout the organization, which plays a key role in helping the Company achieve its business objectives and goals. It also helps prevent and mitigate potential losses and serves as a tool to identify business opportunities from certain risks efficiently. This will ultimately build confidence among investors and stakeholders in the Company’s business operations. For the year 2024, the following agenda for officeholders will be as follows:

January 1,2024 to December 31,2024

• Komol Rungruangyot          Chairman of the Corporate Risk Management Committee
• M Thitimar Tantikulsuntorn Corporate Risk Management Committee
• Ms. Busarin Tuanchaem          Corporate Risk Management Committee

The Corporate Risk Management Committee has supported the operations of the Board of Directors under the principles of good corporate governance, ensuring that the Company’s risk management is both efficient and effective in achieving business objectives. This aligns with the Company’s vision and direction, reduces the impact of business environment uncertainties, and builds confidence and credibility among shareholders and stakeholders in the Company’s operations. It demonstrates that the Company has a risk management system capable of addressing risks in all dimensions.

In 2024, the Corporate Risk Management Committee held a total of 4 meetings as follows:

January 1,2024 to December 31,2024

• Komol Rungruangyot          Attended 4 meetings
• Ms Thitimar Tantikulsuntorn Attended 4 meetings
• Ms Busarin Tuanchaem          Attended 4 meetings

The key points of the duties performed are summarized as follows:

1. Governance of risk management to reduce the impact on the Company’s business operations
The Company monitors significant situations that may impact its business operations, with proactive measures aimed at managing and reducing the likelihood of all risk events. Additionally, it has reactive measures in place to minimize the impact if risk events occur, ensuring that the consequences do not affect the organization’s objectives. A risk management plan is developed to address various situations comprehensively. In 2024, the ‘Risk Appetite Statement’ was revised to align with changing circumstances, ensuring that the Company’s risk management processes are appropriate and can be effectively implemented.

2. Governance of the management of the Company’s stakeholders
To ensure that the stakeholder management process is complete and comprehensive, covering the management of all stakeholder groups, with approval on the following matters:
2.1 The Company’s stakeholder management strategy
2.2 Objectives and scope of the Company’s stakeholder management
2.3 The Company’s stakeholder groups
2.4 Key issues that stakeholders prioritize at the organizational level and the approach to addressing them
Including promoting the implementation and evaluation of management performance, along with providing feedback and recommendations to ensure that operations achieve the set goals.

3. Governance of the organization’s innovation management
To ensure that the Company’s innovation management process is complete and comprehensive, the management of innovation and technology is carried out efficiently and systematically. This enables improved innovation effectiveness that aligns with the Company’s strategic objectives and main goals, while optimizing resource utilization for maximum benefit. It leads to sustainable growth, including driving feedback and recommendations on the Company’s innovation management to achieve tangible results and create business growth in line with the set goals.

4. Consider, review, and provide feedback on matters related to investments
This involves carefully considering risk issues and risk management strategies, providing advice on the advantages and disadvantages of business decisions to ensure that investments are worthwhile relative to opportunity costs and are appropriate for the business context. Additionally, feedback is given on various projects, both current and new business ventures that the Company aims to grow in the future, in alignment with the strategic direction of the business. This is done thoroughly before presenting for approval to the Board of Directors.|

5. Monitoring the Organization’s Risk Management for the Year 2024
Closely monitored on a quarterly basis, risk indicators are established to provide early warning signals and measure the effectiveness of risk management. Recommendations are provided to management for improving risk management by reviewing risk management plans to align with the Company’s evolving strategy and business environment. The performance of the Enterprise Risk Management Committee is reported to the Board of Directors. In 2024, the Board of Directors has actively driven and closely monitored the risk management process related to freight rates amid highly volatile market conditions.

6. Reviewing and Screening the Organization’s Risk Items for the Year 2024
Reviewed and submitted for approval by the Board of Directors, the process of compiling the list of risk items and developing the Corporate Risk Management Plan is integrated alongside the annual planning process. This ensures that the risk management plan is clear, aligned with the Company’s strategic direction and business objectives, and effectively communicated across the organization. This enables the Company to manage risks efficiently and in a timely manner.

In conclusion, the Corporate Risk Management Committee and the Risk Management Working Team remain committed to maintaining and continuously improving the effectiveness of risk management. Their goal is to ensure that risks are managed efficiently, appropriately, and within acceptable levels while supporting the sustainable achievement of the Company’s long-term business objectives amid a challenging environment.