Materiality

DOUBLE MATERIALITY ASSESSMENT

Understanding the sustainability topics that matter most is fundamental to creating long-term value. AWC applies a structured Double Materiality Assessment to identify, evaluate, and prioritize the sustainability topics that are most significant to its business, stakeholders, and sustainable development.

The assessment considers two complementary perspectives. Impact Materiality evaluates AWC's actual and potential impacts on the economy, environment, and society across its value chain, while Financial Materiality assesses sustainability-related risks and opportunities that may influence financial performance, enterprise value, resilience, and long-term competitiveness.

The Double Materiality Assessment informs strategic decision-making, enterprise risk management, sustainability governance, performance management, target setting, and sustainability disclosures. By embedding sustainability considerations into these core business processes, AWC ensures that its sustainability priorities remain aligned with stakeholder expectations, business objectives, and long-term value creation.

DOUBLE MATERIALITY ASSESSMENT PROCESS

AWC applies a structured and systematic Double Materiality Assessment to identify the sustainability topics that are most significant to the Company's business and stakeholders. The assessment draws upon internationally recognized sustainability frameworks, industry developments, stakeholder expectations, and the Company's business context to ensure that material sustainability topics remain relevant, transparent, and aligned with long-term value creation.

The assessment is conducted through a structured four-step process that enables AWC to identify, assess, and prioritize the sustainability topics that guide its sustainability strategy and long-term value creation.

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ASSESSMENT SCOPE

The Double Materiality Assessment covers AWC's hospitality, retail, commercial, wholesale, and mixed-use businesses across the Company's value chain. The assessment considers upstream and downstream activities, relevant stakeholder groups, and sustainability-related impacts, risks, and opportunities over the short, medium, and long term.

The assessment also incorporates stakeholder perspectives throughout the process to ensure that sustainability priorities reflect evolving stakeholder expectations, the Company's business strategy, operating context, and emerging sustainability trends.

By applying a comprehensive assessment scope, AWC ensures that material sustainability topics are evaluated holistically, supporting informed decision-making and long-term sustainable value creation.

HOW MATERIALITY DRIVES OUR BUSINESS

The outcomes of AWC's Double Materiality Assessment are embedded into the Company's business planning, governance, and decision-making processes. By integrating material sustainability topics into core business functions, AWC strengthens strategic decision-making, enhances organizational resilience, and supports the creation of long-term sustainable value.

The results of the assessment inform key business and sustainability management processes, including:

Sustainability Strategy and the 3BETTERs Framework
Sustainability Governance
Enterprise Risk Management
Business Planning and Strategic Decision-making
Performance Management and Target Setting
Sustainability Reporting and External Disclosure

Through this integrated approach, AWC ensures that sustainability considerations remain embedded across the organization, supporting consistent implementation, effective risk management, and continuous value creation for all stakeholders.

DOUBLE MATERIALITY RESULTS

The Double Materiality Assessment identifies the sustainability topics that are most significant to AWC based on their importance from both impact and financial materiality perspectives. These material topics represent the sustainability issues with the greatest potential to influence stakeholder decision-making, business resilience, long-term enterprise value, and the Company's impacts on the economy, environment, and society.

The current assessment identified nine Material Sustainability Topics, reflecting AWC's most significant sustainability priorities. The assessment is reviewed periodically to ensure that material sustainability topics remain aligned with the Company's evolving business strategy, stakeholder expectations, regulatory developments, and emerging sustainability issues.

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STRENGTHENING SUSTAINABILITY MANAGEMENT

Building upon the outcomes of its Double Materiality Assessment, AWC has established a Sustainability Management Framework comprising twelve interconnected Sustainability Topics. This framework provides a structured approach to managing sustainability across the organisation by strengthening governance, clarifying accountability, and embedding sustainability into business operations.

The Sustainability Management Framework enables AWC to:

Strengthen governance and accountability across sustainability topics.
Enhance collaboration and integration across business functions.
Align sustainability management with Enterprise Risk Management.
Support consistent target setting, performance monitoring, and continuous improvement.
Strengthen sustainability reporting and external disclosures.

While the Double Materiality Assessment identifies the Company's most material sustainability issues, the twelve Sustainability Topics provide a comprehensive management framework that supports effective governance, implementation, and long-term value creation across the organization.

OUR SUSTAINABILITY TOPICS

Guided by the outcomes of the Double Materiality Assessment, AWC manages sustainability through twelve interconnected Sustainability Topics that collectively form the Company's Sustainability Management Framework. The framework translates material sustainability priorities into a structured approach for governance, strategy execution, risk management, and performance management across the organisation.

Organized under AWC's 3BETTERs Framework, the Sustainability Topics provide a consistent foundation for integrating sustainability into business operations while supporting long-term value creation for stakeholders.

Better Planet

Climate Strategy
Circularity
Water Stewardship
Biodiversity

Better People

Diversity, Equity and Inclusion
Health, Safety & Wellbeing
Community & Social Integration
Human Rights

Better Prosperity

Sustainable Economic Growth
Sustainable Supply Chain
Corporate Governance
Innovation & Technology

CONTINUOUS IMPROVEMENT

Double Materiality Assessment is an ongoing process that evolves alongside AWC's business, stakeholder expectations, and the rapidly changing sustainability landscape. The Company periodically reviews its assessment to reflect changes in business strategy, regulatory developments, emerging sustainability issues, and evolving stakeholder expectations.

The outcomes of the assessment continue to inform sustainability strategy, enterprise risk management, governance, performance management, and sustainability disclosures, ensuring that AWC's sustainability priorities remain relevant, responsive, and aligned with long-term value creation.

By continuously strengthening its understanding of material sustainability topics, AWC enhances its ability to manage sustainability-related impacts, risks, and opportunities while creating sustainable value for its business, stakeholders, and society.

Material Issues and Impacts for External Stakeholders

Material Issues	Output Metrics	Coverage of Business Activity	Impact Valuation	Impact Values (Million THB)	References	Impact Types	Significance for External Stakeholders
Circular Economy
	2,670.86 ton of waste diverted	100% of Operating Assets	The Social Cost of Carbon (SCC) is applied to both avoided and generated emissions from waste management. The impact value is calculated as the quantity of waste diverted or landfilled × the applicable landfill emission factor (tCO₂e/tonne of waste) × the Social Cost of Carbon (SCC) of USD 208 per tCO₂e (2% discount rate).	15.05	TGO Emission Factor (landfill), US EPA (2023), SCC 208 USD/tCO₂e (2%)	Positive	Diverting waste from landfill reduces methane and CO₂ emissions, directly benefiting the environment and society. This metric highlights AWC’s positive contribution to climate action.
	8,111.08 ton of landfiled waste	100% of Operating Assets		45.70	TGO Emission Factor (landfill), US EPA (2023), SCC 208 USD/tCO₂e (2%)	Negative	Landfilling waste generates GHG emissions that negatively impact the environment and society. Quantifying this makes the external cost visible to stakeholders.
Economic Value Creation
	THB 524 million of local food and beverage procurement	60% of Operating Assets (22 hotel properties from across 37 properties)	Direct economic value transferred to local suppliers through local procurement spending	524.00	AWC Sustainability Report 2025 – Local Procurement and Economic Contribution; AWC procurement records	Positive	Local procurement generates positive socioeconomic impacts by transferring purchasing value to local suppliers, SMEs, farmers, and producers. The THB 524 million spent on local sourcing represents direct economic value retained within local supply chains, supporting income generation, employment opportunities, and regional economic development.
	THB 703 million of non-local food and beverage procurement for products unavailable domestically or requiring specific product specifications, quality standards, or brand requirements		Potential economic value not retained within local supply chains due to unavoidable non-local sourcing	703.00	AWC procurement records; AWC local sourcing methodology	Negative	While AWC prioritizes local sourcing where feasible, certain products require international sourcing due to availability, quality requirements, or brand standards. This may result in potential economic leakage by limiting opportunities for local suppliers to participate in the value chain.