The year 2025 marked a profound loss for the Kingdom of Thailand and the Thai people following the passing of Her Majesty Queen Sirikit, The Queen Mother, on 24 October 2025.

With our deepest gratitude to Her immeasurable Royal Grace, the Board of Directors, management, and employees respectfully extend our heartfelt condolences and humbly pledge to uphold Her Royal guidance and teachings in contributing to the continued prosperity of the nation in accordance with Her enduring aspirations.

Packaging demand in ASEAN continued to grow steadily in 2025, driven by domestic consumption, particularly demand for essential goods and exports during the second half of the year. However, purchasing power for durable goods remained constrained by high household debt levels, volatility arising from international trade policies, and the temporary closure of border crossings with Cambodia. These factors caused customers in certain industries to delay orders and temporarily adjust transportation modes, thereby affecting overall economic momentum. Nevertheless, government economic stimulus measures and the tourism sector, which played a significant role, served as positive drivers supporting the market from the beginning of the year. In addition, festive demand for goods and the relocation of manufacturing bases to ASEAN further boosted packaging demand and contributed to increased investment in the ASEAN region.

SCGP continued to strengthen its business to navigate challenging conditions and adapt to global changes through Transformative Transformation, encompassing Business Model Transformation focused on deeper customer proximity and understanding, strengthening core businesses, expanding through mergers and partnerships, and extending into new opportunities. The Company pursued its strategy to expand consumer packaging businesses and made continuous strategic investments throughout the year. Key actions included increasing investment in Duy Tan Plastics Manufacturing Corporation Joint Stock Company (DUY TAN), a leader in rigid packaging in Vietnam, by 30% to accelerate growth in consumer markets. SCGP also invested 25% in Howa Packaging (Thailand) Co., Ltd., in collaboration with Howa Sangyo Co., Ltd., to manufacture flexible packaging for wet pet food, supporting the rapidly growing pet food market. In addition, SCGP acquired a 100% stake in PT Prokemas Adhikari Kreasi (MYPAK), a fiber packaging business in Indonesia with a strong customer base in food, beverage, and consumer goods sectors. This investment strengthened supply chain integration with the packaging paper business, enhanced production efficiency, and reinforced SCGP’s existing fiber packaging operations in Indonesia. These initiatives align with the Company’s strategic focus on consumer packaging growth alongside expansion in high-potential ASEAN markets.

SCGP focused on developing packaging innovations and solutions. Notable initiatives included expanding the business through collaboration with Once Medical Co., Ltd. to manufacture syringes and needles at VEM (Thailand) Co., Ltd., thereby reducing reliance on imports. The Company also developed innovative sustainable foodservice packaging, including Fest Fresh Pak, chilled fresh meat paper trays, Fest Redi Pak, ready-to-eat chilled food trays, and paper cutlery sets. These innovations have been widely recognized, earning SCGP the “Best Innovative Company Awards” at the SET Awards of Honor for the fourth consecutive year. Such recognition reflects the strength of People Transformation, which focuses on enhancing employee capabilities in line with business growth by strengthening technological skills, fostering an inclusive organizational culture, and instilling a Growth Mindset that encourages continuous learning, adaptability, and innovation.

In Digital Transformation, SCGP leveraged Artificial Intelligence (AI) and Machine Learning to enhance energy efficiency and optimize production processes across the entire supply chain. Applications include real-time manufacturing optimization, cross-plant production allocation to enhance flexibility and reduce lead time, and the establishment of a Logistics Management Control Center (LMCC) to strengthen transportation capabilities and uphold the highest safety standards.

In addition, SCGP developed intelligent solutions to support customers in managing inventory by securely integrating data between the Company’s and customers’ databases. Automated replenishment is triggered when inventory reaches predefined levels, ensuring accurate, up-to-date information, supporting continuous production, streamlining processes, saving time, reducing costs, creating business value, and reinforcing long-term sustainability.

SCGP conducts its business in accordance with the Environmental, Social and Governance (ESG) framework while driving Sustainability Transformation with clear targets. These include reducing greenhouse gas emissions by 25% by 2030 and achieving Net Zero greenhouse gas emissions by 2050 through increased use of alternative energy and enhanced energy efficiency. In 2025, alternative fuel usage represented 38% of total energy consumption. The Company also undertook reforestation and forest restoration initiatives to increase carbon sequestration. Furthermore, SCGP has developed more than 279 items certified with Carbon Footprint of Products (CFP) by the Thailand Greenhouse Gas Management Organization (Public Organization). SCGP also expanded collaboration with leading food and consumer packaging customers to promote the use of packaging bearing SCGP’s Private Declaration Label, displaying product carbon footprint information, and to further register Carbon Footprint Reduction (CFR) labels, reflecting progress in sustainability performance.

In 2025, SCGP received multiple international sustainability recognitions, including qualification for the Dow Jones Sustainability Index (DJSI) by S&P Global in the packaging industry with a total score of 88 points, a Platinum Medal from EcoVadis ranking in the Top 1% of global packaging companies, a SET ESG Rating of AAA for the third consecutive year, the Best Sustainability Awards at the SET Awards 2025, and recognition under the ASEAN Corporate Governance Scorecard 2024 as one of the top five listed companies in each ASEAN country and among the top 50 listed companies in ASEAN. The Company also continued to place importance on social and community care. With concern for the flooding affecting many areas of the country, the Company provided urgent assistance by delivering paper toilets and paper field hospital beds for use in evacuation centers, supplying copy paper to the affected schools, and dispatching S.E.R.T. (SCGP Emergency Response Team) to the affected areas to provide field support, rehabilitation, and relief for the hardships faced by affected communities. These actions reflect the Company’s commitment to conducting business in parallel with creating shared value for society and standing by the Thai people in times of crisis.

SCGP remains committed to prudent business operations, adaptive growth amid changing environments, and maintaining a strong financial position supported by proactive strategies focused on ASEAN expansion. In 2025, total revenue from sales amounted to Baht 124,374 million, a decrease of 6% year-on-year, while profit for the year totaled Baht 4,069 million, an increase of 10% year-on-year. The Board of Directors resolved to propose to the 2026 Annual General Meeting of Shareholders for the approval of a dividend payment for 2025 at 0.60 baht per share, totaling approximately Baht 2,576 million, or 63.3% of profit for the year based on consolidated financial statements, in accordance with the Company’s dividend policy. This comprises an interim dividend of 0.25 baht per share and a remaining annual dividend of 0.35 baht per share.

In 2026, SCGP is committed to enhancing operational efficiency to align with ASEAN market growth and exports, while expanding its consumer packaging business in ASEAN and diversifying exports to high-growth markets, e.g., South Asia. These efforts will strengthen its ability to deliver solutions to food, beverage, and fastmoving consumer goods (FMCG) customers, expand the customer base through cross-selling strategies, and build partnerships across the value chain. In recovered paper (RCP) sourcing, SCGP will focus on improving cost efficiency by expanding sourcing networks within ASEAN and strengthening collaboration with subsidiaries in Europe and the USA. The Company will continue to apply technology and AI to systematically enhance energy efficiency and production processes, while prioritizing people development by fostering engagement and an agile organizational culture. SCGP remains firmly committed to good corporate governance, driving growth alongside social and environmental development under the ESG framework, demonstrating its dedication to sustainability in all dimensions.

The Board of Directors would like to express sincere appreciation to shareholders, debenture holders, investors, partners, customers, employees, and all stakeholders, as well as domestic and international financial institutions, for their continued support and trust.

SCGP remains committed to embracing strong corporate governance principles, advancing sustainable growth within the ESG framework, and fostering collaboration across the value chain to drive sustainable progress for the organization and society.