guided by our Corporate Social Responsibility (CSR) pillars – Improving Lives through Charitable Gifts, Empowering Lives through Education and Transforming Lives through Technology and Innovation. In 2024, we contributed $2.8m to community causes. Dedicated to making a positive impact in the broader community, we contributed our technology such as the EasyExo, a soft passive exoskeleton designed to provide assisted support to nursing staff; and Airbitat, a sustainable evaporative cooling solution, to our non-profit partners. Our engineers also contributed their skills and developed a wheelchair canopy prototype for the clients of Cerebral Palsy Alliance Singapore (CPAS). In recognition of our efforts, ST Engineering was conferred the Company of Good – 3 Hearts by the National Volunteer & Philanthropy Centre (NVPC) in Singapore. We remain dedicated to pursuing purpose-driven practices and fostering collaboration to build a caring, inclusive and compassionate society. DISCLOSURES: As part of regulatory compliance and stakeholder engagement, we continue to disclose sustainability information in our Annual and Sustainability Reports. Our reporting is guided by global reporting frameworks, including GRI, SASB and TCFD. From 2025 onwards, our climaterelated disclosures will incorporate the climate-related requirements in the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB). • DATA: We expanded the collection and reporting of ESG data globally with our material international business units. We further enhanced engagement efforts with our internal stakeholders to strengthen the accuracy, traceability and transparency of our data. In addition, we embarked on our roadmap for expanding our Scope 3 data collection to build a more comprehensive carbon inventory across our value chain. Given the complexities of estimating Scope 3 emissions, we will progressively fine tune the reporting process and methodology employed in consultation with both internal and external stakeholders, to establish a robust foundation for Scope 3 reporting. ENABLING OUR CUSTOMERS We remain committed to supporting our customers in their sustainability journey by providing more sustainable quality products and services. Opportunities: Group-wide, we leverage opportunities in three focal areas – reducing GHG emissions, tackling urban and city challenges, and contributing to the circular economy, through enhancing our existing capabilities and tapping on the strengths of our diverse business. Our annual Venture Building business challenge, In.Vent, fosters and develops promising and scalable business ideas, whilst accounting for their sustainability. New Solutions: Our latest sustainability-linked products and services include carbon-lite electric buses, which are designed with a strong emphasis on safety and state-of-the-art technology. Key design features include a tripledoor design for shorter dwelling time at entry and exit, automatic ramp with dual wheelchair bay for all-inclusive transport, ultraviolet-C light-emitting diode (UVC LED) air disinfection system, solar panel on the roof, camera mirroring system and advanced blind spot detection system (AGIL DriveSafe+) to assist bus captains. Supply Chain: A sustainable and resilient supply chain is paramount to our continued success. We broadened the application of our Supply Chain Resilience Framework across the Group and developed plans and strategies to mitigate key supply chain risks, which included our suppliers’ ESG performance. With an increasing focus on human rights risks in supply chains, we seek to progressively collaborate with stakeholders to understand such risks using a risk-based approach, build upon existing policies and governance framework, as well as enhance supply chain screening, due diligence and ongoing engagement processes to strengthen the resilience of our supply chain. Concurrently, we leverage opportunities to engage more closely with our suppliers and foster more resilient and mutually beneficial relationships. COMMITMENT TO THE JOURNEY ST Engineering remains committed to sustainability, whether in our own operations, or through enabling our customers and other stakeholders. We seek to leverage our diverse capabilities and partner with innovative firms and institutions to deepen our expertise and broaden our offering of technologies, as we pursue greater sustainability in our businesses and operations globally. Sincerely, VINCENT CHONG Group President & CEO 10 MARCH 2025 05 OVERVIEW OUR SUSTAINABILITY APPROACH ECONOMIC ENVIRONMENTAL GOVERNANCE INDEX SOCIAL
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