In 2023, as part of a human rights due diligence process, the Company conducted a human rights risk and impact assessment for a renewable power business in Vietnam. The assessment involved a thorough data collection, including interviews with various rights holders, comprising employees, contractors, subcontractors, security guards, and local communities, as well as vulnerable groups, such as women and pregnant women. The findings from the assessment revealed that, with current control measures, most human rights issues posed low to medium risks. However, there were 6 high-impact risks that require focused attention. These areas included working conditions & equal remuneration, labor recruitment, forced labor, occupational health & safety in workplace, violence or harassment, and internal grievance mechanisms.

The Company has taken meaningful steps to advance human rights across our operations through comprehensive training and workshops, particularly those conducted in Australia and Thailand in 2025. Our training programs equipped employees with deep knowledge of human rights foundation, international standards, and their respective business roles. Building on this foundation, we organized workshops in which key internal stakeholders collaborated to identify human rights issues specific to their operational and local contexts. This collaborative approach was essential for gathering accurate, on-the-ground insights that informed our assessment and prioritization of human rights risks across the Company's operations. We embed human rights consideration into every aspect of our operations by fostering a culture of respect and responsibility, prioritizing inclusivity, and engaging directly with stakeholders in the communities where we operate.

The Company launched a mandatory human rights training Course, Human Rights 101, to strengthen understanding of human rights principles, internationally recognized standards, our Human Rights Policy, and human rights due diligence processes across operations and the value chain. The course was first rolled out in Thailand in 2025 as the initial phase of implementation, with plans to progressively extend it to other business units across all countries where we operate.<br><br>The course addresses key topics including human dignity, the prevention of human rights violations, grievance mechanisms, and the roles and responsibilities of employees in identifying, preventing, and mitigating potential human rights risks. It supports the integration of human rights considerations into day-to-day activities and decision-making, enhances risk awareness, and promotes a culture of respect across all functions. Course completion and quiz results are systematically tracked and recorded to ensure full compliance, evaluate training effectiveness, and inform continuous improvement of our human rights capacity-building efforts.

Since its establishment in 2019, Jorong Mine’s Sasirangan eco-print program in Indonesia has been a beacon of women’s empowerment and sustainable development. <br><br>The program is operated in partnership with the community consultative committee and involves 2 women groups that manage the activities. These groups have significantly enhanced their capabilities through knowledge sharing and technical skill training, focusing on creating eco-friendly products.<br>Sasirangan’s product line uniquely incorporates eco-print techniques using eucalyptus leaves from Jorong’s reclamation areas. In 2023, the initiative expanded its product range to include eco-print coloring material and became a local government partner in Kondang’s market, a significant step in increasing the program’s reach and impact.

BKV, the Company’s subsidiary in the U.S., is committed to being a positive force within society. BKV prioritizes maintaining open and honest relationships with stakeholders and is deeply committed to being engaged with the community.<br><br>In 2023, BKV launched the first “BKV First Responder Grant Program”. This initiative is designed to establish partnerships with local first responders by providing them with financial support to enhance their services. The program started with a “First Responder Lunch and Learn” event, where BKV began discussions on safety, operations, and partnership opportunities.<br><br>First Responders in the operational areas in Texas and Northeastern Pennsylvania were invited to participate by submitting a simple one-page grant application. The community relations committee then reviewed all applications and ultimately awarded a total of 8 grants in the amount of over USD 30,000.

Launched in 2020 in Besiq Village, Kutai Barat, Indonesia, the Pemuda Mandiri Besiq initiative is a community-based economic empowerment program focused on layer chicken farming, designed to strengthen youth independence and local food security. Starting with 350 chickens and expanding to 600, the program now produces approximately 510 eggs daily, supplying cooperatives, food stalls, restaurants, and households in the surrounding area. Bharinto Mine contributed USD 26,947 in 2025, bringing total support since the program’s launch to USD 61,957, and connected with corn farming for feed supply. The initiative has established an integrated value chain and a replicable community entrepreneurship model. The program’s success is driven by well-organized group governance, transparent financial management, and the development of independent market networks. Designed to remain self-sustaining beyond direct Company intervention, the program supports regional government agendas on food security and youth empowerment.

In 2025, ITM, the Company’s subsidiary in Indonesia, continued to promote inclusive employment by employing an employee with disability in the HR Department, reflecting the Company’s commitment to equal opportunity in the workplace. To support an inclusive working environment, ITM provided mentorship and workplace guidance to support employee’s integration and development.

Mine Subsidence represents a critical challenge in underground mining, manifesting during or post-mining operations, with the potential to damage nearby structures and residences. The Company’s strategy is the implementation of proactive prevention and mitigation plans. These plans are developed based on thorough mine subsidence risk assessments and surface impact analysis. The Point Hatteras Extraction Plan is a blueprint designed to guide the mining operations with support by sophisticated modeling techniques that simulate the potential impacts. Furthermore, the Company has established a network of monitoring stations focused on tracking the width of surface cracks to prevent and halt subsidence before exceeding the maximum allowance limits. 

To support our Net Zero journey, Banpu has implemented several GHG emissions reduction initiatives across our business operations. For each initiative, emissions reductions are quantified by comparing actual performance against a baseline scenario reflecting conditions prior to implementation.

At Bontang Coal Terminal (BoCT) in Indonesia, coal spillage along the ship loading process has been identified as a critical issue. This challenge not only leads to the port’s cleanliness but also poses environmental risks to the surrounding community and incures significant management costs. In response, BoCT embarked the “Reuse coal spillage project” by blending spilled coal back into the shipment.<br><br>This project kicks off with a comprehensive data collection utilizing a digital application. The execution phase ensures the careful integration of spillage coal back into the shipment process. This approach has led to a reduction of coal spillage dumping and conserved 4,386 tonnes of natural coal annually. Moreover, it has significantly reduced dust emissions and contamination in soil and water, thereby lowering community complaints. Financially, the project has delivered substantial economic advantages, generating additional coal revenue of USD 477,850 and reducing coal spillage management costs by USD 15,052 each year.

To strengthen transparency and regulatory compliance in watershed rehabilitation, Bharinto Mine in Indonesia developed SITANAM, a web-based and mobile application for individual plant-level geotagging and monitoring. This initiative supports regulatory requirements from the Financial Audit Agency and the Ministry of Environment and Forestry of the Republic of Indonesia, which require 100% geotagged photographic documentation.

At Bharinto mine in Indonesia, most recyclable waste had previously been disposed of in the onsite landfill, and this practice was not aligned with government policy for long-term waste management. Local communities also expressed a strong demand for Bharinto to provide a platform for exchanging recyclable materials. In response, Bharinto launched the Waste Bank Program (BASARUAN) in collaboration with the local government waste bank. The program involves communicating program details, including recyclable waste types, pricing, and collection schedules, to employees, contractors, and community members; receiving and sorting recyclables from all stakeholders; transporting them to a local waste bank for sale; distributing the proceeds back to contributors as incentives; and continuously monitoring the system to ensure circularity. (Reuse/Recyling)

Water plays a critical role across open-pit mining, particularly for dust suppression. To manage the associated risks, Banpu has implemented a water management framework and site-specific strategies to control both water quality and quantity, supporting efficient and responsible water use across our mining operations.<br><br>At Indominco Mine, continuous improvement initiatives are focused on optimizing operational processes and conserving water by reducing freshwater consumption and managing acid mine drainage risks. Key measures include modifying water trucks with specialized equipment and integrating water reuse into mine planning to maximize the utilization of pit water. In 2025, these efforts enabled the reuse of 4,313 m³ of water across the operation.

The Company has taken a strategic step forward by assembling a cross-border team dedicated to leveraging AI to enhance the profitability in the energy trading business in Australia. This AI showcase is designed to maximize the future battery revenue and improve outcomes of trading business with focus on 2 key goals:<br><br>Forecasting the electricity dispatch price to optimize battery dispatch strategy.<br>Predicting anomalies in pricing to mitigate risks associated with volatile market conditions.<br><br>This initiative has undergone a thorough analysis, revealing an opportunity to boost the business profit by 4.6 million AUD, based on a 22-month back-test result. Such potential gains underscore the transformative power of AI in revolutionizing energy trading business. Currently, the physical battery investment is under final assessment.

ITM, a subsidiary in Indonesia, faced with the challenge of carbon stock data gathering from the reclamation process due to manual data collection and no standard reference. This inefficiency delayed data collection and validation.<br><br>To pursue this challenge, ITM initiated the GREENCODE project, which is a digital platform and dashboard designed to ensure the validity and visibility of carbon stock data. The project was rolled out at Embalut and Jorong mine.<br><br>The introduction of GREENCODE has significantly improved the efficiency and effectiveness of reclamation monitoring. It has also enhanced decarbonization knowledge of team members. Economically, the project has delivered tangible benefits by reducing lead time to update carbon stock data of USD 36,746 annually. The Company also potentially minimizes future carbon tax and ensures reclamation compliance.

Banpu advances sustainable procurement by sourcing polo shirts made from recycled plastic bottles. This initiative demonstrates our commitment to reducing plastic waste and supporting a circular economy. Each shirt is produced from 15 post-consumer PET bottles, transforming waste into valuable products while reinforcing our responsible sourcing practices.<br><br>Through the purchase of 970 shirts, we have prevented 14,550 plastic bottles from entering the waste stream and avoided 8.3 tonnes of CO₂e emissions. This initiative is part of our continuous efforts to embed ESG considerations into procurement decisions and create a sustainable value chain.

To support China’s transition toward a green and low-carbon energy system, Zhengding became the Company’s first power plant to pilot biomass co-firing with coal. This initiative aims to lower GHG emissions intensity while generating additional revenue through the sale of GHG emission allowances. The trial demonstrated that biomass and coal can be co-fired in a stable and efficient manner without adverse impacts on plant operations.<br>​<br>Building on these results, Zhengding plans to gradually increase the biomass blending ratio from 2025 onward, with a target of achieving a 10% biomass mix by 2026. The project requires a one-time capital investment of USD 552,000 and annual operating expenses of USD 60,000. Once fully implemented, the initiative is expected to generate approximately USD 953,000 per year from the sale of GHG emission allowances. Beyond emissions reduction and revenue enhancement, biomass co-firing contributes to improved agricultural waste management, more efficient resource utilization, increased income for local farmers, and the development of related value chains, while supporting job creation and local economic growth.

The Company is applying Artificial Intelligence (AI) to targeted business priorities where AI can improve revenue generation, cost efficiency, operational resilience, and workforce productivity. Rather than positioning AI as a standalone technology initiative, the Company focuses on practical use cases that address specific operational challenges across the business, translating AI potential into measurable business impact across the Company’s diversified energy portfolio.

The CG Storytelling Contest, themed "Every Story Needs to Be Told," is an innovative approach to deepen employee engagement with corporate governance (CG) best practices. Participants are invited to share their experiences and impressions of colleagues who embody these principles, highlighting real-life examples of integrity and ethical conduct across the Company. The top three stories, celebrated for their inspiration, will be brought to life through video clips and showcased on CG Day.

To address ESG-related challenges, the Company held the ESG Summit 2023 on October 10th, under the theme “Sustainability Horizons: Pioneering Decarbonization and Data Privacy & Cybersecurity”. The summit was graced by the ESG committee and senior executives from all business units, unified in exploring 2 main topics: climate change & carbon reduction and data privacy and cybersecurity. At the summit, the Company welcomed external experts to share value insights under the topic “Strengthen Cyber Readiness” focused on cyber attacks.<br>

Recognizing the importance of ESG awareness across all levels, the Company embarked on an internal communication newsletter to provide employees with comprehensive knowledge about ESG principles in user-friendly infographics. 

CG Day 2024 was held to promote corporate governance awareness and reinforce the “Adhere to Integrity and Ethics” behaviors among employees at all levels. Designed as a hybrid event, the format reflected Banpu’s commitment to inclusivity and adaptability to modern work practices. Highlights activities included a vision-sharing session by senior management and a keynote address by Asst. Prof. Dr. Torplus Yomnak on the theme “Strengthening Integrity: Anti-Corruption Reform for Effective Governance.” The event aligned closely with the Company’s core values, inspiring employees to embrace ethical conduct as an essential foundation of Banpu’s long-term success.

"CG Focus" is a featured section in “Banpu Synergy E-Magazine”, a quarterly e-journal reaching employees across all countries where the Company operates. These articles shine a light on CG best practices within the organization and share updates on the updates on CG progress in order to foster understanding and awareness among the employees.

Banpu launched the “CG Whistle Guard” initiative to strengthen employee awareness and engagement around corporate governance. Designed as a communication framework, this initiative supports key activities, including internal email campaigns, communication channels, and CG Day events. It specifically promotes understanding of the Whistleblower Policy as a key mechanism to prevent misconduct and reinforce the broader impact of ethical behavior in safeguarding the Company’s integrity and employee trust.

In 2025, the Company continued to advance good corporate governance and foster a strong ethical culture under the “Pulse of Ethics” concept through a series of key activities. Throughout the year, we delivered monthly engagement initiatives, including case study readings, video modules, and quizzes. The M.O.V.E. Annual CG Knowledge Assessment 2025, held in June–July, evaluated employees’ understanding of the Corporate Governance Policy and the Code of Conduct. In September–October, the “Ethics Through Your Lens” photo contest encouraged employees to creatively express their perspectives on ethical conduct.

ITM, the Company’s subsidiary in Indonesia, marked the 10th anniversary of CG Day, reinforcing its commitment to embedding good corporate governance as a foundation for sustainable performance. The event highlighted progress in cultivating a governance driven culture supported by an integrated ESG framework. Key messages emphasized governance as an enabler of long term resilience and credibility across the value chain. A major milestone was the launch of the Indonesia Governance Channel, an anonymous and accessible platform that expands real time CG communication. Together with stakeholder engagement initiatives, we continue to strengthen governance across all operational levels

To elevate safety standards across our Indonesian operations, Banpu organized the Contractors Leadership Forum, bringing together management representatives from 43 contractors to strengthen their safety capabilities. The session addressed key gaps in the Mining Safety Management (SMKP) implementation, including supervisor competency, operational supervisor oversight, internal auditors, training needs analysis, and management involvement. The forum reflects our continued support for contractor development and our commitment to building a safer and more sustainable supply chain.