Transcript and Q&A

Note

Q1/26 Total Revenue: 5,679 MB

Q1/2026 Performance Summary (Presented by Mr. Numpol Malichai, President & CEO)

Total sales in Q1 amounted to THB 5,552 million. Sales softened slightly year-on-year, primarily due to a slowdown in overall market conditions, particularly in Thailand. Excluding the impact of Thai Baht appreciation from foreign currency translation, revenue would have declined by approximately -4%, mainly attributable to the domestic market in Thailand. Profitability. Despite softer sales, profitability remained resilient and comparable to last year, with overall profit growth. EBITDA stood at THB 780 million, representing an EBITDA margin of 14.1%, improving from 13.6% in the same period last year. Profit attributable to the owners of the company amounted to THB

247 million, an increase of 14% year-on-year, with a net profit margin of 4.2%.

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Sales Portfolio Q1/26

PRIME revenue proportion rose YoY. Export increased YoY and QoQ

Total Revenue 5,552 MB Export – Domestic Sales

Domestic Export Export

PRIME 20% VN +30% y-o-y

3% PRIME +8% q-o-q

Ware 2 & 1% fitting 14% 13% 12% 9% TH-Ceramic

MSC9% Note:

• PRIME export portion increased and sales rose YoY,

KIA5%

QoQ

86% 87% 88% • Higher portion contributes to

ASEAN, East Asia, East

Europe markets

Ceramic45%

• Export from Thailand reduced lower demand in East Asia

Q1/25 Q4/25 Q1/26

Thailand 66%

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From Revenue portion by countries, Vietnam’s sales contribution increased year-on-year, while Thailand experienced a slowdown. SCGD’s export sales accounted for approximately 12% of total revenue. Export sales from Vietnam grew significantly by 30% year-on-year, in line with our strategy to position Vietnam as the Group’s export manufacturing base. In contrast, exports from Thailand declined due to regulatory constraints related to export licensing to neighboring countries.

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High Value Added (HVA) and Smart Value Products (SVP)

HVA to help sustain the competitive margins and SVP to capture market during downturn

Proportion of Sales from HVA HVA products

36% 38% 36%

Q1 25 Q4 25 Q1 26

Proportion of Sales from SVP

Smart Value Product

High-quality products at reasonable prices

18%

15% 16%

SVP portion increased over time reflecting during soft market

Q1 25 Q4 25 Q1 26

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HVA Products and New Products. The proportion of High Value-Added (HVA) products softened slightly from the previous quarter but remained stable year-on-year at 36%. Meanwhile, Smart Value Products (SVP)—offering good quality at accessible pricing—continued to grow steadily and have been well received amid the current environment where customers are increasingly price-sensitive.

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Impact of Middle East Crisis

“Minimal effect” in Q1 to only March. Although Q2 impact on Production cost will be intensified, implementing the mitigations have alleviated the impacts

Thailand Vietnam The Philippines Indonesia

Raw Material

Higher cost from rising transportation cost

Low Gas

Domestic supply &

Energy Government allocation

NG Coal control price LPG NG

Transportation

Mitigations

• Negotiate with logistic partners to reduce transportation impact • Leverage cost advantage of PRIME to supply to TH, PH, ID

• Increase usage of alternative energy • Increase Safety Stock of critical raw materials

• Reflect the incremental cost to the price and raise about 4-5% • Accelerate production efficiency improvement eg.plant optimization

Expected impact in Q2

(Production + transportation cost)

Remark

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No effect Minor effect Moderate effect Severe effect

Global Situation and Energy Cost Impact

Impact from Global Conflicts. Energy prices across all categories have continued to rise, impacting both raw material and logistics costs. However, the impact in Q1 was limited as price increases occurred toward the end of the quarter. The full momentum of cost impacts is expected to become more apparent from Q2 onward.

Country-Specific Impact Outlook for Q2: In the Philippines, the highest impact, driven by rising diesel prices affecting raw materials, logistics costs, and highly volatile LPG prices. While in Thailand, natural gas prices are expected to gradually increase starting in Q2. For Vietnam, coal costs remain relatively stable due to domestic sourcing and price lag mechanisms. Lastly for Indonesia, limited impact on both raw materials and energy costs, supported by government subsidies and price controls.

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Impact of Middle East Crisis

“Minimal effect” in Q1 to only March. Although Q2 impact on Production cost will be intensified, implementing the mitigations have alleviated the impacts

Thailand Vietnam The Philippines Indonesia

Raw Material

Higher cost from rising transportation cost

Low Gas

Domestic supply &

Energy Government allocation

NG Coal control price LPG NG

Transportation

Mitigations

• Negotiate with logistic partners to reduce transportation impact • Leverage cost advantage of PRIME to supply to TH, PH, ID

• Increase usage of alternative energy • Increase Safety Stock of critical raw materials

• Reflect the incremental cost to the price and raise about 4-5% • Accelerate production efficiency improvement eg.plant optimization

Expected impact in Q2

(Production + transportation cost)

Remark

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No effect Minor effect Moderate effect Severe effect

Cost Mitigation Measures

The Group continues to mitigate cost pressures through negotiations with logistics providers, reducing reliance on fossil fuels by increasing the use of alternative energy, selective price adjustments in line with cost inflation, while aiming to minimize market impact. We are also accelerating our regional optimization strategy, positioning Vietnam as a competitive manufacturing hub. In addition, the Group has evaluated increasing raw material inventory levels to ensure production continuity and cost stability.

As a result, Thailand and Vietnam are expected to be largely unaffected, while impacts in the Philippines and Indonesia are expected to be manageable through Q2/2026.

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Strategies and

Executions

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Strategy & Execution

Resilient and Adaptive to remain competitive and continue to grow

Fortify Leading Position in Decor surface

Grow Horizontally through New Growth business in Thailand o Production consolidation o Wider product offering aside from tiles to support market

PRIME Vietnam as Strategic Production and Export o Rising Glazed porcelain sales volume both domestic and export o Further Investment in Glazed porcelain to support higher demand: Pho Yen III

SCGD’s Competitiveness o Increasing alternative fuel usages o Other efforts on cost reduction

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Thailand

Consolidate production line unlocks efficiency, cost competitiveness, and profit resilience.

Relocating production lines from multiple plants into one location and new Glazed Porcelain line, enabling more efficient utilization and profitability

Existing 4 plants Consolidation to 2 plants: Hub of Innovation

“Maintain Market Leadership and Market Share”

Project Benefits

• Lowerunit costs 16-20% lower

SCGCE Utilization rate

80% • Reduce manufacturing and administrative

Average Utilization at approximately

60% expenses NKIE NK1

70%

New Capacity 44.5 M. Sqm/year

60% ProOptimized capacity aligned with market demand

Support Regional optimization strategy

50%

Investment 957 MB

• Productivity Improved

Return Competitive Payback

40%

Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 • StrongerProduct Mix: widerproduct range and larger period and IRR size of Glazed porcelain tile

Target completion Q3 2027

Potential external factors

• HigherMargin from more Glazed porcelain tile (HVA)

• Higher competition in the domestic market,

• BetterPerformance: inhouse supply to replace particularly from imported products;

• Energy costs volatility amid geopolitical unrest imports in the Middle East

Remark

Estimated related expenses (one time and majority of them are non-cash items) of 679 MB, to be recognized in late Q2/26

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Winning Strategies

Thailand Strategy – Maintaining Market Leadership. In Thailand, to mitigate global energy cost volatility and improve production efficiency, the

Group is implementing plant consolidation in the Saraburi area. The number of plants will be reduced from four to two, resulting in a new combined capacity of 44.5 million square meters per year, aligned with appropriate domestic demand levels. This investment includes advanced technology and automation systems, enhancing profitability by reducing unit production costs by 16–20%, alongside a significant reduction in

SG&A expenses, improving competitiveness against imports.

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Thailand

Horizontal growth with New Growth business

Wider product offering aside from tiles in Thailand to support market needs and offer more variety

SPC (Stone Plastic Composite) New Decor Surface

New Growth Product Sourcing

+21% y-o-y

Unit MB

+17% q-o-q

244

208

202 v

Complementary

New Decor Surface

SPC

Q1 25 Q4 25 Q1 26

Complementary Products

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New Growth Products

Sales of new growth products increased by 21%, outperforming the overall market trend despite the slowdown.

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PRIME Vietnam as Strategic Production and Export

Rising Sales Volume from growing Export during seasonal domestic

PRIME Sales Volume

Domestic Export +12% y-o-y Main Export destinations include:

Unit M.sqm +2% q-o-q

Korea, Taiwan, China, Eastern Europe and The Philippines

11.6 11.8

10.51

Regional Optimization

2.2 2.5

1.9

• Leveraging PRIME competitive cost to support the Philippines

8.6 9.4 9.3

• Target: 3 M. sqm/ year

• Q1/26: 0.4 M. sqm

Q1 25 Q4 25 Q1 26 v

Glazed Porcelain Sales Volume

Unit M.sqm +44% y-o-y

3.9 3.9

2.7 • Sales rose 44% YoY from both domestic and export market

• Margin over ceramic approx. 10THB/sqm

Q1 25 Q4 25 Q1 26 12

Vietnam Strategy – Export Manufacturing Hub

In Vietnam, higher tile demand drove sales growth, supported by capacity expansion and continuous productivity improvement. Export contribution increased significantly in line with our export-driven strategy.

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PRIME Vietnam as Strategic Production and Export

Continue to increase Glazed Porcelain (GP) capacity. Q1 26 New Investment Project: Pho Yen

GP capacity by Location

PRIME’s GP Capacity

North 5 plants

Unit M.sqm

Current GP

14 M. sqm

Utilization

91%

Q1 26 New Investment

Project

Pho Yen

Capacity

+6.6 M. sqm

33.4

Investment

660 MB

+6.6

Completion

Q2 2027

26.8

45

+6.6 v

Central 1 plant

Current GP capacity

5 M. sqm

20.2

Utilization

96%

On going

Dai Loc + 6.6 M. sqm

Completion

Q4 2026

2025 2026 2027 2030

GP capacity of Total Nameplate Capacity (%)

24% 32% 40% 50%

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In Q2/26, the Board approved an investment of THB 660 million to add 6.6 million square meters of glazed porcelain capacity at the Pho Yen plant in Northern Vietnam. This expansion will raise the Group’s porcelain capacity to 40% by Q2/2027, with a target of 50% by 2030.

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Balance Sheet in Q1/26

Liability and Debt ratio remain low with strong cash on hand at THB 9 Bn

Total Asset Total Liabilities Total Equity Net Debt to Net Debt to

EBITDA Equity

Unit

MB

37,220

1.1x

19,878

17,342

Interest

Cash and

12,563

Bearing

9,114 cash

Debt equivalent 0.2x

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Financial Position & Sustainability (Presented by Mr. Sitichai Sukkitprasert, CFO)

Financial Position

As of the end of Q1, the Company held cash and cash equivalents of approximately THB 9,100 million, out of total assets of

THB 37,220 million. Interest-bearing debt stood at THB 12,563 million, with Net Debt to EBITDA of 1.1x and Net Debt to Equity of only 0.2x, reflecting a strong financial position. This confirms sufficient funding capacity for both major investment projects and financial resilience amid market volatility.

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Competitiveness Enhancement

Total Cost saving of Accumulated savings from Biomass & Solar cell: 392 MB, together with continued finance cost reduction

Tile Energy Cost Baht/Sqm

32

29 29 29 29 Finance cost Reduction

NG Price/ MMBTU

Coal Price/ Ton 12

MB vv

(compare to Q4 2025)

Commencement

Q1/26

Cost saving

12 MB/year

Cost Saving in 2026: 9 MB 15

Alternative Energy

Energy cost averaged THB 29 per square meter, comparable to the previous quarter and lower year-on-year. Renewable energy usage to total consumption comprised 13.6% solar and 25% biomass, with long-term targets by 2030 of 15% solar and 46% biomass.

Improved working capital management also reduced financial costs by THB 12 million quarter-on-quarter.

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Long term Growth Strategy

• Expand Regional Bathroom

• Fortify leading position in Decor Surface

• Grow Complementary product & service

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Expand Bathroom business to ASEAN

Regional Bathroom sales increased to 141 MB

Worldbex 2026

12-15 March 2026, The Philippines

Regional Bathroom Sales Expand COTTO presence in ASEAN

141 +14% y-o-y

Unit MB

+4% q-o-q

136

124

Q1 25 Q4 25 Q1 26

Growing Number of Bathroom Distributors

Total

2025 201

Q1 2026 212

Vietnam The Philippines Indonesia

51 118 43

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Long-Term Operational Strategy

Surface Decoration & Sanitaryware

Overseas bathroom business revenue increased by THB 141 million, or 14% quarter-on-quarter.

The number of overseas bathroom distributors increased to 212, from 201 at the end of 2025.

The Group also participated in Worldbex Philippines, celebrating Mariwasa’s 60th anniversary, reinforcing brand recognition.

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Fortify Leading Position in Decor Surface

SPC volume rose 11% YoY and continue to grow from project sales and renovation

SPC Thailand Sales Volume

+11% y-o-y

Unit ‘000 Sqm

-6 % q-o-q

340

320

289

Q1 25 Q4 25 Q1 26

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Decor surfaces

SPC sales amounted to 320,000 sqm, down -6% QoQ due to domestic retail slowdown, but up 11% YoY, driven mainly by exports. New

Ultra Pro SPC series offers 28% increase on higher scratch resistance, termite resistance, and 99.9% antibacterial protection.

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Fortify Leading Position in Decor Surface

Glow in the dark tiles, PRIME where material goes beyond functionality for technological value and new spatial experiences

30 March-2 Apr 2026, USA

• The largest innovative Tile tradeshow in the US

• Integrate technology into the tile surface to absorb light during daytime and store the energy to create a subtle luminous effect in low-light conditions. • Over 1,000 exhibitors from 40 countries

• Reinforcing PRIME’s pioneer role in capturing and shaping trends.

ASA 2026 (Upcoming)

28 Apr-3 May 2026

@ COTTO LiFE& IMPACT Arena

Under the theme 5 Curations where mix and match of different materials offers new design perspectives from 3 curators:

PHTAA, IDIN, Stu/D/O

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Innovation products include glow-in-the-dark tiles, developed by the Vietnam R&D team.

SCGD also participated in Coverings USA (30 March – 2 April), as well as during ASA 2026 Thailand, the Company collaborated with three design studios—PHTAA, IDIN, and Stu/D/O—to present five product groupings integrating non-tile surface materials.

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Grow Complementary product & service

New Complementary Product Line to complete product portfolio and increase cross-selling

Complementary Sales

+6% y-o-y

+7% q-o-q

Unit MB

114

108 107

Q1 25 Q4 25 Q1 26

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Complementary Products

Sales of complementary products (adhesives, grouts, doors, countertops) totaled THB 114 million, representing +6% year-on-year.

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Outlook & Mitigation

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Outlook

• Market will remain soft. Real estate sector continues to be pressured by weakening purchasing power and is in a wait-and-see mode from government policies and economic stimulus package.

• NG is expected to increase and will impact production cost.

• Growth is expected to continue, supported by acceleration of construction projects prior to rainy season and increased government spending. Some cautious factors on inflation.

• Government measurements, including gas tax reductions and energy subsidies, have mitigated the impacts

• Expect the market to be slow from higher inflation and weak domestic demand.

• LPG and diesel price will be higher.

• Growth is expected to be moderate

• Minimal effect from the Iran-US conflict with Government support.

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Q2/2026 Outlook

In Thailand, market slowdown is expected to persist as customers delay purchasing decisions and focus on project completion. Natural gas prices are expected to rise gradually. For Vietnam, continued growth is expected, driven by accelerated construction ahead of the rainy season and government support measures, including tax reductions and energy subsidies. In the Philippines, Market slowdown due to inflationary pressure and continued energy price volatility. For

Indonesia, Outlook remains stable, supported by lower reliance on imported energy and ongoing government energy subsidies.

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Email

[email protected]

Tel

02-586-1088

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Q&A :

Q1: Why did SCGD choose to invest in Thailand instead of expanding production capacity in Vietnam, where energy cost advantages appear more attractive?

Answer SCGD continues to expand in Vietnam in line with our long-term strategy. At the same time, the investment in Thailand focuses on production consolidation, whereby we are consolidating four plants into two plants to better align capacity with domestic demand.

This consolidation enables us to significantly improve capacity utilization and production efficiency. The investment primarily involves advanced technology and automation, resulting in a material reduction in unit production cost of approximately 16–20%.

This allows the Company to maintain market leadership in Thailand while enhancing profitability. Following the investment, we expect capacity utilization to increase to approximately 80–90%, with part of the output substituting imported tiles.

The resulting production capacity is considered optimal for the Company’s economies of scale. All production will be consolidated in NK1 and

NKIE, utilizing the most efficient ceramic tile formats with modern manufacturing technology.

As a result, overall capacity utilization and total production cost levels in Thailand will become more comparable to Vietnam, while improving the Group’s overall cost competitiveness.

Q2: Will the investment have an impact on dividend payments this year, given the relatively large investment size?

Answer The Company has sufficient liquidity and funding capacity to support the investment. Dividend consideration will continue to be based on normal operating performance and cash-generating profit. Items that are non-cash in nature, such as asset write-offs, are accounting adjustments and do not affect the Company’s cash position or dividend-paying capability.

Q3: What is the breakdown between cash and non-cash expenses for Thailand consolidation project, and how will Gross margin improve after completion?

Answer The expenses related to the project amounts to THB 679 million and expected to be recognized in the late second quarter of 2026, which are one-time with the majority being non-cash items, primarily related to asset impairment.

Upon completion of the project, the Company expects annual cost savings of approximately THB 380 million, which will support structural improvement in gross profit margin going forward.

Q4: Is the investment in Vietnam an expansion of new capacity, or a conversion of existing ceramic tile lines to glazed porcelain?

Answer The primary investment in Vietnam is a conversion of existing ceramic tile production lines into glazed porcelain lines, in order to better meet growing market demand. At the same time, conventional ceramic tiles will continue to be supplied for domestic sales and export markets, including exports to countries such as the Philippines.

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