Samshin

Introduction

Korea SMEs and Startups Registrar (hereinafter “KOSRE”) has been commissioned to perform the assurance engagement on the 2024 Sustainability Report of SAMSHIN LIMITED (hereinafter “the Report”). KOSRE was responsible for providing a third-party assurance statement on the Report, and SAMSHIN LIMITED, the publisher of the Report, is solely responsible for the information and statements contained in the Report.

Scope of Assurance and Standards

The assurance engagement was conducted in accordance with AA1000AS v3, an international assurance standard published by Accountability. KOSRE applied a Type 1 assurance engagement to assess compliance with the four principles of inclusivity, materiality, responsiveness and impact, and a Moderate Level assurance engagement where limited evidence was obtained.

• Assurance standard

  AA1000AS (v3), AA1000AP (2018)

• Type of assurance engagement

  Type 1 [four principles of AA1000AP: inclusivity, materiality, responsiveness, and impact].

• Level of assurance engagment

  Moderate [limited evidence was obtained].

• Scope of assurance

  Compliance with the four principles of AA1000AP and the GRI Standards 2021 disclosures.

※ GRI Standards 2021 disclosures

- Universal Standards : Reporting with reference to GRI Standards 2021 to ensure compliance with the following

Methodology

KOSRE has performed an independent assurance engagement in accordance with the process and guidelines presented in the assurance standards and has verified the reliability of the contents of the Report and the relevant procedures in the following ways

• Reviewing and verifying the adequacy of the materiality analysis process

• Understanding the company’s systems and processes for managing and reporting sustainability information

• Reviewing the sustainability strategy process and implementation systems; and

• Reviewing documentation related to risk assessment results, sustainability policies and standards, materiality assessments, stakeholder engagement activities, etc.

Limitations

The validity of the performance data presented in the Report is subject to inherent limitations arising from the nature of the data and the methods used to determine, calculate and estimate the figures. KOSRE has performed a comparative review of the information and evidence provided, but has not verified the reliability of the source data itself. In addition, the greenhouse gas emissions data reported in the Report were not included in the scope of this assurance engagement.

Conclusions

Based on the work and methodology described in this statement, we have confirmed that the Report provides rational grounds to attest compliance with the four principles of AA1000AP (2018) and the AA1000AS (v3) Type 1 assurance level. Nothing has come to our attention that would cause us to believe that the information presented in this Report has gross errors or biased statements.

• Inclusivity

  Stakeholders have been defined, and communication channels that take into consideration of group-specific characteristics are in place to communicate with the stakeholders and gather their opinions. Commitment to incorporate the stakeholder opinions into the management strategy has been confirmed.

• Materiality

  An issue pool was created based on the findings from the analysis of global ESG disclosure standards and initiatives, media analysis and peer industry benchmarking for the internal and external environment analysis, and a double materiality assessment was performed considering the issue-specific financial and non-financial impacts. It has been confirmed that all material issues identified through the materiality assessment have been reported in the Report.

• Responsiveness

  Efforts have been made to ensure timely response to stakeholders’ demand and concerns. Nothing has come to our attention that would cause us to believe that the organization’s response to the material issues and achievements have been inappropriately reported.

• Impact

  The impact of material issues on stakeholders is identified, monitored and reported to the extent practicable throughout its operations. Nothing has come to our attention that would cause us to believe that the impact related to the material issues has been inappropriately measured and/or reported.

Independence and Qualification

KOSRE has performed the assurance engagement independently. There are no business relations or conflicts of interest between KOSRE and SAMSHIN LIMITED. KOSRE’s assurers are skilled and experienced in sustainability, corporate social responsibility, and environment, social, and governance and have good knowledge of the assurance methodology.