Loxley Public : 56-1 One Report

Contents

Part 1

Business Operations

and Operating Results

Part 2

Corporate Governance

Part 3

Financial Reports

Attachment 1

Attachment 2

Attachment 3

Attachment 4

Attachment 5

Attachment 6

1. Background, Major Changes and Milestones
2. Message from Chairman
3. Financial Summary
4. Revenue Structure
5. Board of Directors

8 Executive Board

1. List of Group and Department Management (Year 2021)
2. Directors in the Subsidiaries Directly Owned by Loxley as of 31 December 2021

1. 1. Structure and Operation of the Company Group

1. 2. Risk Factors

1. 3. Driving Business toward Sustainability

1. 4. Management Discussion and Analysis (MD&A)

1. 5. General Information and Other Significant Information

97 6. Corporate Governance

110 7. Governance Structure and key Data on the Board of Directors, Sub-Committees, Management, Employees and Others

126 8. Report on Significant Corporate Governance Performances

128 9. Internal Control and Audit and Related Transactions

138 Financial Reports

231 Information of the Company's Directors, Executives, Controlling Person, the person taking the highest responsibility in finance and accounting (CFO), the person supervising accounting (Chief Accountant), and Company Secretary

251 Information of Directors' Positions in the Related Parties as of 31 December 2021

1. Details about the Head of Internal Audit and the head of the company's supervisory
2. Assets Used in Business Operations and Details of Assets Appraisal

1. Detailed Policy and Guidelines on Corporate Governance and Code of Conduct
2. Report of the Audit Committee

1. Report on Responsibilities for Financial Reports of the Board of Directors
2. Office Locations

BACKGROUND, MAJOR CHANGES AND MILESTONES

Loxley Public Company Limited has operated its business for over 80 years. It was founded on 15 January 1939 under the name Loxley Rice Company (Bangkok) Limited as a joint venture between Ng Yuk Long Lamsam and Andrew Beattie of W.R. Loxley Company of Hong Kong. Initially, the Company's main activities were exports of agricultural products of Thailand, including rice and timbers.

For over eight decades, the business has grown from strength to strength. In 1957, the Company's name was changed to Loxley (Bangkok) Company Limited and expanded its export businesses as well as distribution of foreign products including industrial products and advanced technology products. Due to its outstanding performance, the Company had attracted a huge number of leading local and foreign corporations, many of which later became the company's business partners. By the year 1988, with an aim to meet the ever-changing market demands, the Company expanded its business to cover technology.

On 1 April 1993, the Company was transformed into a public company, being listed on the Stock Exchange of Thailand under the name of Loxley Public Company Limited. Our shares began to be traded on 25 January 1994 under the designation "LOXLEY" in the commercial group of stocks.

The Company has always committed to operating its business with a comprehensive range of products and services, focusing on sustainable growth in order to cater clients' needs and to manage our assets in accordance with the value-added principle for maximum benefits of shareholders, employees, and the society.

2021 was the year in which the Company's business direction was set with the importance given to its 5 Core Business Groups and to ensuring environmental- friendly work procedures reflective of its Corporate Responsibility to the Society which gives an added value to its corporate sustainability.

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Annual Report 2021

Message from Chairman

Dear Shareholders,

2021, indeed, was another year in which the Company had to face challenges taking into account overall changing environment. Changes and adjustments in business operations albeit usual, circumstances cropping up in the past year especially repercussions of the Covid-19 outbreak, greatly impacted economy, society and people's way of living, leading to unfamiliar new-normal lifestyles and presenting tremendous challenges to business operations.

For Loxley Public Company Limited, adaptation to fight crisis is utmost importance in keeping up with volatile business environment. Risk management, building business continuity and prudent financial management play crucial roles in ensuring that the Company can run business despite being affected inevitably by external factors like many other companies. Fundamentals laid by the Company, well-prepared business directions and strategies towards pursuing variety of businesses and conducting core businesses in diversified industries have brought about overall positive performance, capabilities in steering up businesses and keeping financial liquidity. Certain business segments were adversely affected with dropping revenues; while other business segments were favorably affected with increasing profitability.

Moreover, the dedication and cooperation of the management team, employees, their families and surrounding communities as well as stakeholders are the crucial part of the Company's ability to cope with and overcome crisis situations. The Company has introduced various public health measures, has adjusted its business operation models to align with business continuity plans and has given support in variety of forms to provide initial assistance and alleviate difficulties.

As for direction in 2022, the Company determines to follow fundamental principles of its visions and strategies which will be another significant pace for development of and strengthening the Company's businesses affected by repercussions. Also, the Company determines to build growth while simultaneously adhering to the principles in operating five strategic business groups as well as maintaining stringent financial disciplines to ensure balance business portfolio and sustainable growth.

On behalf of the Company's Board of Directors, I would like to express my gratefulness to shareholders, directors, executives and employees for their continuing support towards business operations. I am confident that with determination, management potential and attention to business affairs, the Company will move forward and attain its declared organizational vision.

(Mr. Dhongchai Lamsam)

Chairman of the Board

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Annual Report 2021