Rain Industries Ltd

aluminium underpins the demand for our Carbon segment's key materials. After several quarters of lower performance, our investments in a diverse and innovative range of Advanced Materials, combined with our strong reputation as a reliable supplier, are increasing the importance of that segment within RAIN. As we continue our research and development work and engage in several innovative joint-development agreements in the energy storage sector, we anticipate growth in new market areas for our Carbon and Advanced Materials segments.

RAIN is an amalgam of different businesses, each with its own historical set of regional and global suppliers, customers and competitors. While markets, raw material sources and customer locations have shifted, RAIN has invested in solidifying its global presence and technological flexibility.

Staying ahead as a sustainable enterprise

RAIN has always stayed committed to sustainability, both financial and environmental, which is at the heart of RAIN's operations. We continuously strive to minimise our impact on the environment through innovative practices and investing in sustainable solutions. Our dedication to environmental responsibility is reflected both in our substantial investments in systems that reduce our ecological footprint and our efforts to discover new ways to extract financial and environmental value from our industrial processes.

Our business model focuses on the upcycling byproducts of other industries and many of our products made from those byproducts are essential in the downstream production of circular and sustainable solutions. Despite the use of the latest technologies available today, our production processes generate emissions and have environmental impact, but we strive to produce them with minimal impact. This involves making consistent efforts to reduce our own energy consumption, which has simultaneous financial and environmental benefits. In addition, we are continuously evaluating existing and new raw materials and technologies in order to unlock additional financial and environmental benefits. We are proud of our decades-old reputation as pioneers in renewable energy generation, including solar power and harnessing waste-heat energy for all three of our segments. We have also led the industry in the early use of environmental and pollution control technologies and energy usage monitors. While we work towards defining our long-term sustainability targets, we have already taken steps to develop our Sustainability Strategy, beginning with the identification of our Most Material Topics, Focal Points and Ambitions. Two core aspects of our business model are the productive use of other industries' byproducts and the further productive use of our own byproducts. This core philosophy of producing the maximum while using minimum raw materials with the lowest impact, has expanded into RAIN's use of bio-based, recycled and lower-carbon-footprint raw materials. In our Advanced Materials segment alone, we have seen positive market response for our new line of International Sustainability and Carbon Certification PLUS (‘ISCC PLUS') certified, NOVARES? eco products, our water-white NOVARES? pure and hydrogenated hydrocarbon resins (HHCR), as well as our PETRORES? and LiONCOAT? battery anode materials. In all three of our business segments, we are advancing research and development towards identifying and qualifying raw materials and energy sources with lower carbon footprint, meeting the market demand while improving our long-term market sustainability.

Leadership, culture and values

Our core values form the foundation of our behaviour and belief system, guiding us in every decision and action. These values shape our leadership approach, corporate culture, safety initiatives and commitment to employee well-being.

We place immense value on our employees, investing in their safety, well-being and professional fulfilment. This investment goes beyond mere compliance with safety regulations; it embodies a deep-seated commitment to creating a nurturing and supportive work environment. We look upon our employees as integral members of a united and powerful workforce that drives our business forward. We believe that by fostering a culture of care and mutual respect, we can empower our employees to achieve their full potential, both personally and professionally.

Together, we build not only a thriving company but also vibrant communities where we operate. By supporting the communities where we live and work, we reinforce our commitment to a sustainable future. Our leadership approach is driven by the belief that a healthy environment is essential for the well-being of our society and the success of our business.

We also nurture longstanding partnerships with our suppliers and customers, built on trust, collaboration and mutual respect. Over the decades, we have forged strong industry- focused relationships, becoming the raw material supplier of choice for the world's premier players in numerous key industries. Our commitment to providing consistent, high-quality products and sophisticated technical services ensures that we meet and exceed the expectations of our partners.

We recognise that the future of our employees, the environment, suppliers and customers is inherently tied to our own future. This understanding drives RAIN to invest in flexibility and adaptability, enabling mutually beneficial improvements in each of these areas. By upholding our core values, we ensure that our leadership approach and corporate culture remain aligned with our long-term vision, fostering a prosperous and sustainable future for all.

Strengthening governance at RAIN

RAIN's Board of Directors and management are dedicated to steering the Company ahead by working closely together on business strategy and future direction across all three business segments. This collaborative approach ensures that our Company remains resilient, responsive and responsible, even in the face of external challenges.

To achieve this, our leadership engages in regular management review meetings, held weekly, monthly and quarterly. These meetings provide a platform for each segment's leadership to discuss new and evolving trends, exchange views on proposed strategies and assess the Company's overall progress. Quarterly Board meetings further reinforce this collaborative process, allowing for a comprehensive review of our Company's performance and strategic direction.

Whenever necessary, the management organises additional ‘expert session' meetings that bring together a diverse range of RAIN colleagues and Board members to harness their collective expertise and insights. This ensures that the leadership stays informed and agile amid challenges and opportunities as they evolve.

In addition to the management review meetings, RAIN's business leaders actively participate in the Sustainability team's monthly and quarterly presentations, where they gain insights into the Company's sustainability initiatives, progress and future plans. Thus, they stay informed of how sustainability efforts intersect with broader business strategies, allowing for informed decision-making and cohesive planning.

A pivotal element of our collaborative approach is the quarterly meetings of the RAIN Sustainability Steering Committee. This Committee comprises leadership from all three business segments, coming together to review and discuss sustainability-related matters. The committee's role is to ensure that sustainability remains a central focus in the Company's strategic planning and execution. Regular interactions and goal-setting sessions within the Committee foster a culture of accountability and shared responsibility for achieving sustainability objectives.

Our leadership's commitment to open communication, collaboration and continuous learning is pivotal in guiding the Company. By fostering a culture of adaptability and proactive problem- solving, RAIN's leadership ensures that the Company can effectively navigate external challenges while staying true to our core values and long-term vision, staying aligned with our overarching goals for sustainability through regular reviews of our progress across these adopted sustainability goals.

collective effort

The progress we have achieved so far is a testament to our shared commitment to a sustainable future. I extend my heartfelt gratitude to all our employees, partners and stakeholders for their dedication, trust and collaborative spirit. With confidence in our collective strength, I believe we will continue to lead innovation, drive positive change and contribute meaningfully to the creation of a resilient and future-ready world.