Message from Chief Executive Officer

Even though we are still recuperating from the financial storms this year, our commitment to sustainability remains unwavering. The Company is proud of its sustainability achievements, including a considerable improvement in our Stock Exchange of Thailand ESG ratings, in which the score has increased to 81% in 2023 from 67% the previous year.

Not only did our scores improve across all ESG dimensions, we are also happy to be the number one low-cost airline in terms of domestic market share, as well as to have been recognised for service excellence, with Cirium ranking us the most punctual in Thailand, third in Asia Pacific and seventh among the world's low-cost airlines. We also received a 7/7 rating for our safety standards from airlineratings.com and named Best Low-Cost Airline in the World for a 14th year by Skytrax. All of these accolades affirm our unceasing development.

2023 Highlights include but are not limited to:

Pathway to Being a “Low Carbon Airline”

The Company has developed strategies to steadfastly decarbonise and aim to achieve net zero by 2050 by upgrading our fleet to the latest generation Airbus A321neo aircraft and meeting all CORSIA requirements of the International Civil Aviation Organization (ICAO). We also initiated discussions with domestic fuel partners on their production plans for Sustainable Aviation Fuels (SAF) while keeping abreast of developments in CORSIA certification of carbon projects in Thailand.

Hearing out Our Stakeholders

We hear the feedback from our stakeholders and this is how we responded to the top three sustainability matters important to them:

Corporate Governance and Code of Conduct

The Company is committed to conducting its business with fairness and transparency. We maintain a channel for the reporting of suspicious activities that may be in violation of the law or Company regulations.

Health and Safety

This year was the first in which the Company included an independentcommissioner on its Safety Committee, making the board more comprehensive in its duties. The Company also organised an annual Safety Day, generating awareness and updating personnel in all departments on safety both in the workplace and while serving passengers.

Customer Relationship and Operational Performance

We developed the Ask Bo Chatbot, an AI tool that is able to resolve the issues of a large number of passengers simultaneously and preemptively. We applied this technology for the management of customer complaints and collected statistical data to further enhance its efficiency. A Live Call feature was also added to our chat function to aid passengers with urgent issues. The newest feature unveiled for airasia Super App and our websiteallowed for the tracking of refunds, making the process much more convenient.

In the area of social investment, the Company revitalised its Journey D program to support and connect communities after a three-year hiatus. The program was extended to new communities and particular support was given to Sustainable Tourism with an emphasis on building value for each locality's identity to aid in preserving its environment, community and traditions.

The Year 2023: Adapting to Revive Business... Realising Sustainability

This year, a key strategy for the Company is to forge stability and turn our financial status back to one of steady profit so we could continue on the path toward strength and sustainable growth.

Growth for sustainable business is ultimately built on a “foundation of corporate culture” that is instilled and driven forward by employees, with support from all stakeholders. In the short term, our shared goal is to rapidly rehabilitate the Company’s financial standing back to stability while in the long term, we aim to grow constructively with sustainable development in all dimensions, achieving concrete and measurable results.