DRIVING OUR STRATEGY SEC 4 32 MATERIAL MATTERS WHAT MATTERS In today’s dynamic business landscape, FGV faces escalating pressure to address ESG challenges while ensuring long-term viability and growth. Central to navigating these complexities are material matters that can influence our operations and overall sustainability. Embracing materiality is not just a strategic imperative but also an obligation for FGV as we strive to build a more sustainable and resilient future. Materiality assessments serve as a cornerstone for FGV, providing invaluable insights into the most relevant and significant material matters for our business and stakeholders. These assessments are driven by a myriad of factors, including regulatory requirements, stakeholder expectations, industry trends, emerging risks, and business priorities. Through thorough assessments, FGV gains insights into significant material matters and develops targeted strategies to effectively address them. In 2023, with the assistance of an independent consultant, we engaged with our stakeholders as part of a two-year cycle to conduct a comprehensive materiality assessment. This exercise ensures that we evaluate, prioritise, and respond to the updated material matters relevant to our business. The materiality assessment is guided by our Enterprise Risk Management framework, material matters in the previous assessment cycle (2021-2022), as well as industry standards such as Bursa Securities’ Sustainability Reporting Guide (third edition) and Toolkit for Materiality Assessment 2022, Global Reporting Initiatives, Sustainability Accounting Standards Board, and Morgan Stanley Capital International framework. The exercise resulted in the identification of 20 material matters, including four new additions, supplementing FGV’s initial 16 material matters identified in the previous assessment cycle (2021-2022). The revised list of eight significant material matters will be the focus of our disclosure in this Report. More information on Materiality Assessment in 2023 can be found in the Sustainability Report 2022/2023. IDENTIFY REVIEW VALIDATE • Understand FGV’s unique operating context and business scope • Identify the stakeholder groups pertinent to FGV’s operations • Identify list of material matters within the agriculture industry, aligning with both local and global standards and guidelines • Engage internal and external stakeholders through surveys and workshops, focusing on actual and potential impacts on ESG aspects • Evaluate and rank material matters based on their impacts on FGV and its key stakeholders • Align material matters with the sustainability pillars • Revise the materiality matrix, considering matters ranging from critical to medium importance • Present the updated materiality matrix to Senior Management and respective Board Committees for review and validation
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