South Asia Gateway Terminals (Pvt) Ltd. (‘SAGT’ or ‘the Company’, Company Registration Number PV326) commissioned DNV Business Assurance India Private Limited (“DNV”,” us” or “we”) to conduct an independent assurance of its sustainability/non-financial disclosures in its Sustainability Report 2025-2026 (hereafter referred to as ‘Report’).

SCOPE OF WORK AND BOUNDARY

As per the agreed scope of work, we performed our assurance (Type 2, Moderate level) activities based on AccountAbility’s AA1000 Assurance Standard v3, and DNV’s assurance methodology VeriSustainTM protocol.

The scope of work included information on non- financial performance, which was disclosed in the Report prepared by SAGT based on GRI Topic-specific Standards for the identified material topics for the activities undertaken by the Company during the reporting period 01/04/2025 to 31/03/2026.

The reported topic boundaries of non-financial performance are based on the internal and external materiality assessment covering Company’s operations as brought out in the section ‘Report Scope and Boundary’ of the report. Reporting and assurance boundary covers the performance of the operations of SAGT in the Port of Colombo that fall under the direct operational control of the Company’s Legal structure unless otherwise specified ‘Report Scope and Boundary’ of the report.

REPORTING CRITERIA AND STANDARDS

The disclosures have been prepared by SAGT:

• in accordance with requirements of Global Reporting Initiative (GRI) standards 2021
• Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard.

Assurance Methodology/ Standard DNV carried out assurance engagement in accordance with DNV’s VeriSustainTM protocol (V6.0), which is based on our professional experience and international assurance practice, and AccountAbility’s AA1000 Assurance Standard (AA1000AS v3). DNV’s VeriSustainTM Protocol (V6.0) has been developed in accordance with the most widely accepted reporting and assurance standards. Apart from DNV’s VeriSustainTM protocol (V6.0), DNV team has also followed ISO 14064-3 - Specification with guidance for the verification and validation of greenhouse gas statements to evaluate disclosures with respect to Greenhouse gases.

BASIS OF OUR CONCLUSION

As part of our independent assurance engagement, we have evaluated the reported environmental, social, and governance (ESG) information against the agreed criteria. Throughout the engagement, we exercised professional judgment and maintained professional skepticism to ensure the integrity and reliability of our conclusions.

As part of the assurance process, a multi-disciplinary team of assurance specialists performed assurance work for selected sites of SAGT. We carried out the following activities:

• We adopted a risk-based approach, that is, we concentrated our assurance efforts on the issues of high material relevance to the Company’s business and its key stakeholders.
• Reviewed the disclosures in the report. Our focus included general disclosures, GRI topic specific disclosures and any other key metrics as stated in the reporting criteria.

Our competence and independence

DNV applies its own management standards and compliance policies for quality control, which are based on the principles enclosed within 15O/IEC 17029:2019- Conformity Assessment - General principles and requirements for validation and verification bodies and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements. DNV has complied with the Code of Conduct during the assurance engagement. DNV’s established policies and procedures are designed to ensure that DNV, its personnel and, where applicable, others are subject to independence requirements (including personnel of other entities of DNV) and maintain independence where required by relevant ethical requirements. This engagement work was carried out by an independent team of sustainability assurance professionals. During the reporting period i.e FY 2025-26, DNV, to the best of its knowledge, was not involved in any non-audit/non-assurance work with the Company and its Group entities which could lead to any Conflict of Interest. DNV was not involved in the preparation of any statements or data included in the Report except for this Assurance Statement. DNV maintains complete impartiality toward stakeholders interviewed during the assurance process.

OUR COMPETENCE AND INDEPENDENCE

• Understanding the key systems, processes and controls for collecting, managing and reporting the non-financial ESG disclosures in report.
• Walk-through of key data sets. Understand and test, on a sample basis, the processes used to adhere to and evaluate adherence to the reporting requirements.
• Collect and evaluate documentary evidence and management representations supporting adherence to the reporting requirements.
• Interviews with the senior managers responsible for management of disclosures and review of selected evidence to support ESG disclosures and metrics disclosed the Report. We were free to choose interviewees and interviewed those with overall responsibility of monitoring, data collation and reporting the selected ESG disclosures.
• DNV audit team conducted on site audit for corporate office and site. Sample based assessment of site-specific data disclosures was carried out.
• Reviewed the process of reporting as defined in the reporting criteria and assurance methodology.
• Verification of the consolidated reported performance disclosures in context to the Principle of Completeness as per VeriSustainTM Protocol, V6.0 for Type 2, Moderate level of assurance for the disclosure.

OUR CONCLUSION

On the basis of the assessment undertaken and agreed scope of work, nothing has come to our attention to suggest that the disclosures (as mentioned in Annexure I of this statement) are not fairly stated and are not prepared, in all material aspects, in accordance with the reporting criteria.

AA1000 ACCOUNTABILITY PRINCIPLES STANDARD (AA1000APS, 2018)

1. Inclusivity

The participation of stakeholders in developing and achieving an accountable and strategic response to Sustainability.

The Report brings out the stakeholders who have been identified as significant to SAGT, as well as the modes of engagement established by the Company to interact with these stakeholder groups. The key topics of concern and needs of each stakeholder group which have been identified through these channels of engagement are further brought out in the Report.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Stakeholder Inclusiveness.

2. Materiality

The process of determining the issues that are most relevant to an organization and its stakeholders.

The Report explains out the materiality assessment process carried out by the Company, which has considered concerns of internal and external stakeholders, and inputs from peers and the industry, as well as issues of relevance in terms of impact for SAGT’s business. The list of topics has been prioritized, reviewed, and validated, and the Company has indicated that there is no significant change in material topics from the previous reporting period.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Materiality.

3. Responsiveness

The extent to which an organization responds to stakeholder issues.

The Report adequately brings out the Company’s policies, strategies, management systems, and governance mechanisms in place to respond to topics identified as material and significant concerns of key stakeholder groups.

Nothing has come to our attention to believe that the Report does not meet the requirements related to the Principle of Responsiveness.

4. Impact

The level to which an organisation monitors, measures and is accountable for how its actions affect its broader ecosystems.

The Report brings out the key performance metrics, surveys and management processes used by SAGT to monitor, measure, and evaluate its significant direct and indirect impacts linked to identified material topics across the Company, its significant value chain entities, and key stakeholder groups.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Impact.

ADDITIONAL PRINCIPLES AS PER DNV VERISUSTAINTM PROTOCOL (V6.0)

1. Accuracy

The extent to which the Report provides correct and sufficiently detailed information to allow an assessment of the organization’s impacts.

The Report brings out the systems and processes that the Company has set in place to capture and report its performance related to identified material topics across its reporting boundary. The Report presents both qualitative and quantitative information in a manner that is consistent with available evidence and other reported disclosures. It clearly distinguishes between measured and estimated data, provides adequate descriptions of measurement methodologies, and outlines assumptions and limitations where applicable.

Some of the data inaccuracies identified in the report during the verification process were found to be attributable to transcription, interpretation, and aggregation errors. These data inaccuracies have been communicated for correction, and the related disclosures were reviewed post correction.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Accuracy.

2. Reliability

The extent to which the Report presents information that can be consistently and dependably verified and used for decision-making.

The Report provides disclosures that are supported by documented evidence, validated data sources, and established internal controls. It outlines the processes used to collect, compile, and review information, ensuring that the data presented is dependable and reproducible. The inclusion of third party assurance further enhances the reliability of the disclosures and supports informed decision-making by stakeholders.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Reliability.

Inherent Umitations

3. Neutrality/Balance

The extent to which a report provides a balanced account of an organization’s performance, delivered in a neutral tone.

The Report brings out the disclosures related to SAGT’s performance during the reporting period in a neutral tone in terms of content and presentation, while considering the overall macroeconomic and industry environment.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Neutrality.

4. Sustainability Context

This addresses the requirement related to the presentation of the organization’s performance in its own sustainability and general business context, i.e. a local, regional and international context.

The Report outlines how the Company monitors and evaluates its impact across local, regional, and global sustainability contexts. It reflects the Company’s efforts to align its performance with broader societal needs and planetary boundaries to monitor, measure and evaluate its significant direct and indirect impacts linked to identified material topics across the Company, its significant value chain entities and key stakeholder groups.

Nothing has come to our attention to suggest that the Report does not meet the requirements related to the Principle of Sustainability Context.

RESPONSIBILITY OF THE COMPANY

SAGT has the sole responsibility for the preparation of the Report and is responsible for all information disclosed in the Report. The company is responsible for maintaining processes and procedures for collecting, analyzing and reporting the information and ensuring the quality and consistency of the information presented in the Report. SAGT is also responsible for ensuring the maintenance and integrity of its website and any referenced disclosures on their website.

DNV’S RESPONSIBILITY

In performing this assurance work, DNV’s responsibility is to the Management of the Company; however, this statement represents our independent opinion and is intended to inform the outcome of the assurance to the stakeholders of the Company. DNV disclaims any liability or co-responsibility for any decision a person or entity would make based on this assurance statement.

USE AND DISTRIBUTION OF ASSURANCE STATEMENT

This assurance statement, including our conclusion has been prepared solely for the Company in accordance For DNV Business Assurance India Private Limited Sarkar, Chandan Chandan Sarkar Digitally signed by Sarkar, Chandan Date: 2026.06.25 15:57:24 +05'30' Sharma, Anjana with the agreement between us. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Management of the Company for our work or this assurance statement. We have not performed any work, and do not express any conclusion, on any other information that may be published outside of the Report and/or on Company’s website for the current reporting period.

The use of this assurance statement shall be governed by the terms and conditions of the contract between DNV and the SAGT. DNV does not accept any liability if this assurance statement is used for any purpose other than its intended use, nor does it accept liability to any third party in respect of this assurance statement.

For DNV Business Assurance India Private Limited

Sarkar, Chandan Digitally signed by Sarkar, Chandan Date: 2026.06.25 15:57:24 +05'30'	Sharma, Anjana Digitally signed by Sarkar, Chandan Date: 2026.06.25 16:01:35 +05'30'
Chandan Sarkar Lead Verifier Sustainability Services, DNV Business Assurance India Private Limited, India.	Anjana Sharma Technical Reviewer Sustainability Services, DNV Business Assurance India Private Limited, India.

Verifiers: Jas Sahib Singh Chadha, So Hyun Kim

25/06/2025, Bengaluru, India

ANNEX I

Disclosures assured for Type 2, moderate level of assurance:

• GRI 2: General Disclosures 2021;
• GRI 3: Material Topics 2021 – 3-1, 3-2, 3-3;
• GRI 205: Anti-corruption 2016 –205-1, 205-2, 205-3;
• GRI 301: Materials 2016 – 301-1;
• GRI 302: Energy 2016 – 302-1, 302-3, 302-4;
• GRI 303: Water and Effluents 2018– 303-1, 303-2, 303-3, 303-4, 303-5;
• GRI 305: Emissions 2016 – 305-1*, 305-2**, 305-3, 305-4, 305-5, 305-6;
• GRI 306: Waste 2020 – 306-1, 306-2, 306-3, 306-4, 306-5;
• GRI 308: Supplier Environmental Assessment 2016 – 308-1;
• GRI 401: Employment 2016 – 401-1, 401-2, 401-3;
• GRI 403: Occupational Health & Safety 2018 – 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7, 403-8, 403-9;
• GRI 404: Training and Education 2016 – 404-1;
• GRI 405: Diversity and Equal Opportunity 2016 – 405-1;
• GRI 406: Non-discrimination 2016 – 406-1;
• GRI 407: Freedom of Association and Collective Bargaining 2016 – 407-1;
• GRI 409: Forced or Compulsory Labor 2016 – 409-1;
• GRI 416: Customer Health and Safety 2016 - 416-2;
• GRI 418: Customer Privacy 2016 – 418-1.

* Scope 1 GHG emissions are calculated as per the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard with the emission factors sourced from the Intergovernmental Panel on Climate Change’s (IPCC) Sixth Assessment Report (AR6), The UK Department for Environment, Food and Rural Affairs (Defra).

** Scope 2 GHG emissions are calculated as per the Average Emission Factor published by the Sustainable Energy Authority of Sri Lanka.

ANNEX II

SITES SELECTED FOR AUDIT

Sr. No.	Site	Location
1	Corporate office and site	SAGT, Port of Colombo, Sri Lanka

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