ABOUT BANPU Banpu as an international versatile energy provider is undergoing a strategic transition aimed at fostering a “Greener & Smarter” value structure. This initiative is designed to create a sustainable platform for value growth, benefiting both stakeholders and shareholders. The company’s recent investments have focused primarily on lower carbon and clean energy technology businesses including gas, renewables, smart energy solutions i.e., solar rooftop, energy storage systems, e-mobility solutions and energy management. Banpu is prioritizing an eco-friendly business and smart integration of technologies and innovations, its strategy centrals around the 3Ds of energy: Decentralization, Decarbonization, and Digitalization to establish an integratedcleanenergy technologyportfolio throughout the Asia-Pacific encompassing renewable energy generation, solar rooftop solutions, energy storage systems, energy management systems, e-mobility solutions, smart infrastructure, and electricity trading. In addition, Banpu’s medium-term plans involve efficiency improvement of all operations, ensuring stability in respond to requirement from customers, maintaining financial stability through disciplined financial and liquidity management and focusing on capacity expansion within existing pipelines. Its longterm plans aim to strengthen cash flow through operational improvement and cost management, ensuring timely projects development, and pursuing new opportunities for expansion in baseload projects and development in renewable energy and energy technology sectors. To accelerate the group’s transformation, Banpu also established a Corporate Venture Capital (CVC) Department, aiming at strengthening Banpu’s highgrowth asset-light strategy andbuildingnewbusinesses tocapture thegrowthof decarbonization trends through investments and partnerships. These partnerships leverage Banpu’s existing competitive advantages and focus on acquiring new capabilities that can be scaled up quickly across geographies enable Banpu to tap into a stream of emerging opportunities for both direct investment and co-investment in projects and startups. These strategic shifts have enhanced the operational efficiency and sustainable growth of Banpu’s 3 core business groups: 1 ENERGY RESOURCES: 2 ENERGY GENERATION: 3 ENERGY TECHNOLOGY: Climate Change Report 2023 10 Introduction Governance Strategy Risk Management Metrics & Targets Looking Ahead