Siam Commercial Bank, represented by Ms. Soramon Inkatanuvatana, First Executive Vice President of Corporate Banking 1, and Mr. Patrick Poulier, Executive Vice President and Head of the Financial Markets Function, has partnered with IRPC Public Co., Ltd., represented by Mr. Phichin Aphiwantanaporn, Senior Executive Vice President of Corporate Accounting & Finance, and Ms. Somruidee Charoenkrongsakul, Acting Senior Vice President, Treasury. Together, they have signed a memorandum of understanding for cooperation on Sustainability-Linked Forward Contracts. These contracts are designed to mitigate exchange rate risks and foster sustainable development through innovative financial derivatives. The costs are tied to the company’s performance in environmental, social, and governance (ESG) criteria aligned with sustainable organizational development. This initiative also underscores the commitment to good corporate governance and the integration of renewable, clean energy in business operations to achieve sustainability objectives.

         Mr. Patrick Poulier, Executive Vice President & Head of Financial Markets Function at Siam Commercial Bank, stated that the bank is committed to fostering a sustainable society. Aiming for net zero emissions from its internal operations by 2030 and from its lending and investment activities by 2050, the bank is enthusiastic about supporting IRPC in its goals to grow responsibly while caring for society, communities, and the environment, and to achieve net zero greenhouse gas emissions. This commitment is embodied in the Sustainability-Linked Forward Contracts, which align financial cost management with ESG performance.

         Mr. Phichin Aphiwantanaporn, Senior Executive Vice President of Corporate Accounting and Finance at IRPC Public Co., Ltd., commented that IRPC's engagement in these Sustainability-Linked Forward Contracts demonstrates the company's serious commitment to environmental protection, social responsibility, and robust corporate governance. This strategic approach not only aligns with IRPC’s sustainable development goals but also assists in hedging against exchange rate risk, thereby enhancing cost management.