In 2022, Ubon Bio Ethanol Public Company Limited ("UBE") entered a challenging situation where the global economy was gradually recovering slightly and spending started accordingly. In particular, domestic spending improved as the situation of the spread of COVID-19 virus subsided. With the commitment and cooperation of the Board of Directors, management and all employees, the Company continued to grow due to improved sales of fuel grade ethanol from the tourism sector, which recovered more strongly in the second half of the year, while industrial grade ethanol was still necessary due to the monitoring measures for the spread of the COVID-19 virus. In the tapioca starch business, the company aimed to supply high quality products in the organic tapioca starch and manioc flour categories both domestically and internationally. In the agricultural business, there was a strong growth trend, especially in coffee and other agricultural products.

For the domestic market, the Company continued to market cassava flour products under the Tasuko brand, focusing on health-conscious consumers who are allergic to gluten; the products can be used for cooking and baking as well as wheat flour, which have been well received and sold in leading stores nationwide, and the Company has continuously organized marketing promotion activities. In the past year, the Company has launched three new products, consisting of 1) "Tasuko Cassava Flour Batter Mix", an innovative cassava flour with gluten-free, no MSG added, and stay crispy for a long time, satisfying fried food lovers and health lovers at the same time, 2) "Tasuko Cassava Flour Mix" with 4 new flavors; Banana Cake, Butter Cake, Chiffon Cake and Crepe Cake, and 3) "Tasuko Brownie Brittle", a ready-to-eat product with sea salt flavor, the Company has also organized promotional activities through various event exhibitions such as THAIFEX-ANUGA ASIA 2022, the largest and most comprehensive food and beverage exhibition in Asia, and Food Ingredient Asia 2022, etc. As a result, the Company's performance in 2022, has a total revenue of 7,199.3 MTHB, an increase of 3% over the previous year, with net profit of 329.2 MTHB, an increase of 3% over the previous year.

In addition, in order to create business growth, the Company also attaches importance to business operations under the corporate sustainability strategy, especially in energy management, in order to manage costs and expenses efficiently. Last year, the Company acquired Ubon Solar Co., Ltd., a clean energy floating solar panel business with a capacity of 2.83 megawatts, which will help the Company to reduce electricity cost by more than 9 MTHB per year, as well as create energy security and reduce the Company's dependence on external energy. To strengthen the sustainability of its business, the Company also focused on open innovation, such as its three-year partnership with PTT Innovation Institute to introduce thermostable yeast technology to reduce costs and increase the efficiency of ethanol production. The Memorandum of Understanding (MOU) with the National Science and Technology Development Agency (NSTDA) to jointly train farmers to increase the efficiency of organic cassava production.

UBE's commitment to the principles of good corporate governance, which resulted in the company receiving a 4-star CG rating from the first year of its assessment, has also been recognized as a company that prioritizes care for employees, society and communities, as evidenced by awards and recognitions such as the Bubble and Seal Award for Prototype in Business Operations according to Disease Prevention and Control Measures in Specific Areas from the Ministry of Public Health, SHAP Prototype Enterprise Award 2021 Platinum Level for promoting employees to have a good quality of life and working environment, CSR-DIW AWARD 2022 Entrepreneurial Social Responsibility Standard from the Department of Industrial Works, Certificate of Industrial Environmental Management (EMS-DIW Level 1) from the Department of Industrial Works, and the Award for Promoting Breastfeeding in the Workplace from the Ubon Ratchathani Provincial Public Health Office, etc.

For future business growth plans, the Company intends to proceed with its investment plans to expand production capacity and improve efficiency of both the ethanol production line and the tapioca starch production line. As for the ethanol business, the Company plans to develop ethanol into high-value products and expand the use of ethanol in various industries.

In order to develop new products and maintain the original product quality, the company intends to provide product value to all stakeholder groups thoroughly and equally. In addition to focusing on business operations to continuously generate returns for shareholders, the company also gives importance from the inside, the employees, which is the heart of business, to the outside by taking care of surrounding communities, especially farmers, in which the company continues to work in integration with government agencies to improve their quality of life through projects such as "Ubon Model Project", which is currently expanding the network to the "Northeast S2 Model", "UBE CARE" project to help communities such as helping flood victims, etc..

In 2023, the Company is still determined to maintain the continuous business growth from the previous year by improving the business structure to generate wider and beyond growth according to the concept of "UBEYOND", which aims to grow beyond the current business in 3 aspects, consisting of 1) Beyond the challenges, with an effective business strategy aimed at increasing the sales share of tapioca starch business and new businesses within 3 years, together with maintaining the strength of the current businesses operated by the Group, both ethanol business, organic farming business and renewable energy business, UBE is also seeking new business opportunities that will expand the growth of existing businesses or generate new growth in the future, UBE is also seeking new business opportunities that will expand the growth of existing businesses or generate new growth in the future, including financial strategy to strengthen both short-term and long-term business, 2) Beyond through Innovation, going beyond with open innovation through research and development both from internal research units and in cooperation with external agencies to further expand the Group's business, and 3) Beyond Sustainability, stepping into a sustainable organization that attaches importance to conducting sustainable business in all dimensions and in accordance with ESG guidelines, starting from the employees from the inside to create a strong foundation of the organization and expand to the outside, which is the farmers to ensure the quality and continuity of raw materials, along with paying attention to the entire product life cycle from the production process to reduce environmental impact to the management of by-products.

On behalf of the Board of Directors, management and employees, I would like to express my gratitude to the shareholders for their confidence in the Company, and please be assured that the Company will continue to pursue its business under the vision of being a leading global organic and bio-based brand through technology and sustainable development by leveraging knowledge and expertise as a leader in the organic farming business, coupled with the use of innovation and advanced technology, and creating shared value for all stakeholders; Shareholders, Customers, Partners, Communities and Environment, Employees and Farmers, to achieve continuous business growth in line with the Company's goal of being a high value ethanol producer and a food tech company that contributes to the Thai economy and strengthens UBE as a role model in conducting business in accordance with the country's sustainable policy called "BCG".

Ms. Sureeyot Khowsurat

Chief Executive Officer (CEO) As Chairman of the Sustainable Development Committee of the UBE Group