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Part 2 Corporate Governance

Please see the full version of Company’s Corporate Governance Policy and Code of Conduct at

https://www.thaicom.net/wp-content/uploads/2023/02/THCOM-Corporate-Governance-Policy_2023-Edition-EN.pdf
https://www.thaicom.net/wp-content/uploads/2020/11/Code-of-Conduct-2020_-EN_signed.pdf

6.3 Major Movements and Developments of Policies, Practices and Corporate Governance in the past year

6.3.1 Major Movements and Developments in the past year's review of Policies, Practices, and Corporate
Governance or Charters of the Board and its Sub-committees

In 2022, the Board of Directors considered and acknowledged the assessment result of the Corporate Governance
Report of Thai Listed Companies (CGR) for the year 2022 from the Thai Institute of Directors (IOD), in which the
Company received a score of "excellent", or 5 stars with the score of 96, with recommendations for the Company to
review and consider whether to improve in the non-compliance items to be aligned with the CGR in order to prepare
for any adjustment (if any) to comply with the updated CGR checklist for 2023.

Even in 2022, the composition of the Board has no sub-committee to directly oversee corporate governance, but
the Board has assigned the Audit and Risk Committee to support the Board in ensuring the Company’s compliance
with its Corporate Governance Policy by annually reviewed. Further that the Board also follows up to ensure that the
Management has implemented according to the policy by assigning the Management to provide the report to the
Board on regular basis, and the Company has determined implementation of corporate governance as one of the
corporate KPI, as well as focusing on the roles and responsibilities of the Board for each aspect of governance as
a listed company, to use as a guideline for directors, executives, and employees for the best practice of the
Company.

In 2022, the Company had revised its Corporate Governance Policy to reflect the current context and composition
of the Board. In addition, the Board has acknowledged the recent update of 2023 Corporate Governance Checklist
for listed companies, then considered and resolved to approve the amendment to the Company’s Corporate
Governance Policy again on 31 January 2023 by adding wordings and sentences in relation to the Sustainable
Development, together with Environmental, Social, and Governance (ESG).

Communication of the Corporate Governance Policy
The Company also issued a Corporate Governance and Code of Business Ethics Handbook. The handbook
consists of 3 main parts i.e. Part 1 Corporate Governance Policy, Part 2 Code of Conduct, and Part 3 Anti-Corruption
Policy—communicated to all directors, executives, and employees as guidelines to be strictly followed in the
performance of duties. Each recipient is required to sign an acknowledgment form stating that they will adhere to
the Company’s Corporate Governance Policy, Code of Conduct, and Anti-Corruption Policy. All new employees are
also given the handbook and required to sign the acknowledgment form stating that they will adhere to the policies
and guidelines presented in the handbook.
In 2022, the Board remains committed to ensuring that the Company will strictly comply with corporate governance
policies and best practice guidelines. The Board continues to focus on developing and improving corporate
governance to ensure international compliance, particularly with the corporate governance requirements of the
ASEAN region. This compliance will also ensure that the Company can maintain its goal of sustainable growth and
contributions to its shareholders and all stakeholders. Focusing on maintaining standards and improving

Part 2 page 22