Message from Chairman

Dear Shareholders,
In the 2023/2024 production year, the global raw sugar price situation has rapidly declined from its previous peak of 28.14 cents per pound to a new low of 17.52 cents per pound in late August 2024 and closed at 19.26 cents per pound at the end of 2024. The main reason for this is the increased sugar supply from southern Brazil, which was previously expected to be severely affected by the worst drought in 10 years. This has affected the global sugar balance, which was previously expected to be in a large deficit, but has now become balanced, with global sugar production close to consumption.

For the Thai sugarcane and sugar industry in the past 2023/2024 production year, the total amount of sugarcane crushed in Thailand was 82.167 million tons, a decrease of 12.48%. For Khonburi Sugar Group Public Company Limited (KBS) in the past 2023/2024 production year, Khonburi Sugar Factory had 2.506 million tons of sugarcane crushed, a decrease of 14.27%, and Sikhio Sugar Factory had 1.058 million tons of sugarcane crushed, an increase of 2.738%. Overall, the group's sugarcane crushing volume decreased at a lower rate than the whole country. However, the amount of sugarcane obtained is still not at full production capacity for Khonburi Sugar Group Public Company Limited (KBS). The group has adapted and coped with these impacts by focusing on managing sugarcane cultivation areas to increase the quantity and quality of sugarcane, investing to increase fresh sugarcane cutting, and creating an Eco System to support global changes. This includes increasing the efficiency of crushing and extraction to achieve higher sugar yield per ton of sugarcane and reduce production costs in all activities. Khonburi Sugar Group Public Company Limited (KBS) is well aware that it still needs to continuously develop its products by using technology to enhance sugar quality and provide standardized services for major industries worldwide. We will utilize by-products from the production process to add maximum value from the biomass power plant business that uses sugarcane bagasse as fuel to drive the growth of Khonburi Sugar Group Public Company Limited (KBS).

For the outlook of the sugarcane and sugar industry in the 2024/2025 production year, the company and the sugar industry group assess that the trend will remain stable. The amount of sugarcane and sugar production tends to increase by about 10% from the previous year due to increased rainfall. The trend of world sugar prices is expected to stabilize in the current range of 17.00- 22.00 cents per pound.

In terms of sales and marketing promotion, Khonburi Sugar Group Public Company Limited (KBS) has a policy to focus on standardized production processes to ensure safe products for consumers and a variety of packaging sizes to meet the needs of customers in each group thoroughly, both domestically and in export markets to target countries in Asia. In addition, the company also focuses on the proportion of refined sugar production as it provides the best returns. This is to maintain the customer base and expand the channels for delivering products, both in the manufacturing industry for export and to customers in the Free Zone. Currently, Khonburi Sugar Group Public Company Limited (KBS) has core products under the KBS brand, including Extra White Refined Sugar, White Refined Sugar, White Sugar, and Natural Brown Sugar. Khonburi Sugar Group Public Company Limited (KBS) uses various marketing strategies to build the "KBS" brand to be recognized by the market. Customers of Khonburi Sugar Group Public Company Limited (KBS) include industrial customers, modern trade customers, distributors, and direct business channels, with the goal of building sustainable Brand Loyalty in the future.

Khonburi Sugar Group Public Company Limited (KBS) is committed to conducting business alongside good corporate governance, with responsibility towards society, communities, and the environment, to develop towards sustainable growth and promote social quality through ongoing projects and activities. A working committee has been set up to oversee social responsibility to support employees and communities around the factory to have a better quality of life through various public benefit projects. Finally, on behalf of the Board of Directors, I would like to express my sincere gratitude to our shareholders, executives, employees, and all those involved with Khonburi Sugar Group Public Company Limited (KBS), as well as all related parties, including financial institutions that have always supported us. Khonburi Sugar Group Public Company Limited (KBS) is committed to conducting business with prudence, transparency, and adherence to good corporate governance principles to ensure sustainable growth and readiness to compete in the industry. We are ready to become a leading organization in the sugarcane, sugar, and bioenergy businesses in the future.

Mr. Suthep Wongvorazathe

Chairman of the Board

Mr. Takon Tawintermsup

Chief Executive Officer