Ever since its initial inception as Thailand’s first petrochemical producer, 37 years ago, PTT Global Chemicals Public Company Limited (GC) is marking the 10th anniversary of its consolidation and foundation – a decade of accumulating experience and fostering organizational strength to achieve unceasing growth, along with determination in striving for sustainable pursuits while complying to the principle of corporate governance – as a leading Thai organization that has proudly elevated itself to international caliber both on the paths of business and sustainability. The year 2021 was yet another challenging year. Despite signs of recovery of the economic and industrial sectors, the world was beset by the spread of new variants of the COVID-19 throughout the year. However, due to the dedication of all parties, who continued to advance action plans to achieve the set goal in the face of business volatility, the company successfully achieved good operating results. In 2021, GC posted Baht 468,953 million in revenues from sales of goods and rendering of services, Bath 31,347 million in operating profit, and Baht 44,982 million in net profit, equivalent to Baht 10.01 in earnings per share. On the business aspect, GC have successfully acquired allnex Holding GmbH, the world’s number one producer of coating resins used in various industries, including steel, automotive, and packaging, and a leading developer of new coating applications for a range of surfaces, especially eco-friendly innovations. Not only has this acquisition enabled a great leap forward into a stable, high-value business with favorable returns on investment and reduce volatility, but also demonstrated the determination to enter businesses aligned with global megatrends with high-quality products which effectively meet the needs of consumers and the modern world. With regards to sustainability, GC have demonstrated a clear stance to join the Paris Agreement in accordance with the United Nations Framework Convention on Climate Change (UNFCCC) and set a goal to achieve a Net Zero target by 2050 – one of the challenging goals that will enable a steady and sustainable growth in the long term. GC has also continued to place emphasis on fostering integration to achieve resource efficiency while also managing portfolio in transition towards low-carbon businesses and fostering collaboration with stakeholders across the supply chain. Furthermore, the organization has been equipped for resilience towards new business models and challenges by carrying out the FiT Project, aiming to streamline work processes enterprise-wide, reduce costs, and boost efficiency and effectiveness by applying more digital technology to production and operations as well as enhance capabilities through upskilling and reskilling and foster the Conviction to Change corporate culture among employees at all levels. The business approach to balancing all professional dimensions while aligning to the framework of good corporate governance and integrating governance has been continually emphasized by the company as ever. Governance Risk Management & Internal Control and Compliance (GRC) is one of the organization’s corporate strategies in congruent to the principle of sustainable development in achieving Environmental, Social, and Governance (ESG) balance. Consequently, GC was placed at the top of the Dow Jones Sustainability Indices (DJSI) in the world’s chemicals sector for the third consecutive year and ranked among the top ten for the ninth consecutive year, becoming the only chemicals company in Thailand and Asia to place first for three consecutive years. In addition, as a result of our anti-corruption efforts, GC received an Honorable Mention Award at the NACC Integrity Awards by the National Anti-Corruption Commission and attained a rating of Excellent on the Corporate Governance Report of Thai Listed Companies for 10 consecutive years. Today, I believe that GC is ready to enter into the new decade in the world’s chemicals industry arena, on account of the collaborative spirit and dedication of the Board of Directors, executives, and all employees who mutually strives to the directions and goals to pursue sustainable growth, and maximum benefits all shareholders and stakeholders — on the basis of fairness, environmental conservation and value creation for society to ensure a long-lasting collective prowess. A decade of pride towards world-class petrochemical leadership and a NET ZERO goal for the sustainable growth GC and society (Mr. Piyasvasti Amranand) Chairman 23 BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX MESSAGE OF THE CHAIRMAN