Basis of Preparation

BASIS OF PREPARATION

1.1 Compliance With the IFRS Sustainability Disclosure Standards 

This report presents Carlsberg Malaysia Group’s sustainability-related disclosures, which have been prepared with reference to the IFRS Sustainability Disclosure Standards, issued by the International Sustainability Standards Board (ISSB). Our Prescribed Table and Statement of Assurance have also been prepared, as aligned with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (MAIN LR) and relevant guidance issued by the Securities Commission Malaysia.

In addition, we have also referred to and considered the Sustainability Accounting Standards Board (SASB) standards for the Alcohol Beverages industry-related disclosure topics when preparing this report. We will continue to enhance our data, processes and controls to progressively achieve full alignment with the IFRS Sustainability Disclosure Standards.

1.2 Connectivity With Financial Statements 

The ISSB Sustainability Statement should be read in conjunction with Carlsberg Malaysia’s consolidated financial statements, which are prepared in accordance with the Malaysian Financial Reporting Standards (MFRS), IFRS Accounting Standards and the requirements of the Companies Act 2016 in Malaysia.

This statement covers the financial year ended 31 December 2025 and is aligned with the reporting period of the related consolidated financial statements.

This statement reflects the sustainability-related risks and opportunities pertaining only to our material operations in Malaysia and Singapore, excluding MayBev Pte. Ltd.

The sustainability‑related financial disclosures are presented in Ringgit Malaysia (RM), consistent with the presentation currency used in the Carlsberg Malaysia Group’s consolidated financial statements. In line with our reporting timelines and to support strategic decision‑making, we will conduct a review at the end of each reporting period to identify sustainability‑related risks and opportunities that could reasonably be expected to arise.

For all sustainability-related risks and opportunities (SROs), except for those related to climate, the following time horizons apply:

For climate-related risks and opportunities (CROs), Carlsberg Malaysia Group utilises strategic decision-making time frames that are distinct from other SROs. The time horizons are aligned with our internal decarbonisation commitments, which are net zero emissions within the brewery by 2030 and net zero emissions by 2040 across the value chain. As such, the time horizons for CROs are:

1.3 First-Time Adoption of IFRS Sustainability Disclosure Standards and Transition Reliefs 

Carlsberg Malaysia Group is reporting under the IFRS Sustainability Disclosure Standards for the first time for the annual reporting period ended 31 December 2025. 

It has applied the following standards for its annual reporting period commencing 1 January 2025: 

• IFRS S1 General Requirements for Disclosure of Sustainability-Related Financial Information (IFRS S1)
• IFRS S2 Climate-Related Disclosure (IFRS S2) In addition, Carlsberg Malaysia Group has applied the transitional reliefs applicable for an entity’s first year of adoption, of which comparative information is not required to be disclosed in the first reporting period commencing 1 January 2025 to 31 December 2025.