Message to Shareholders
After the close of another year, we continue to uphold our purpose, resolute in our commitment to provide our customers with better choices and creating shared success with our stakeholders. We continue to adapt and refine our strategy to better align our course.
We also acknowledge the continued patronage of our customers, as well as the invaluable contributions and support from our employees, business partners, and shareholders, which allow us to carry on as we navigate tides, conquer currents, and chart a path towards brighter horizons for all our stakeholders.
Lance Y. Gokongwei
President and Chief Executive Officer

Coming into a new year, we have begun addressing the challenges we experienced in 2024 and expect the strategies we have set in place to gain traction as the year progresses. At the parent company, we remain focused on supporting our core business units to drive topline and profit growth.
The lessons we have learned from 2024 have strengthened our resolve to sail forward with confidence, meeting each challenge and embracing the opportunities on the horizon.
James L. Go
Chairman

Our Sustainability Agenda: Thriving Through Generations
At its core, sustainability is all about meeting the needs of the present without jeopardizing the capability of future generations to meet their own.
For JG Summit, sustainability is both a strategy and mindset, shaping how we do business and how we work together in building a more resilient future.
As one of the largest conglomerates in the country, JG Summit has long been at the forefront in the adoption of sustainability best practices and innovating the way our business units operate. We promote environmental, social, and economic well-being through our actions and their outcomes. In line with our commitment to creating lasting positive change, we continue to uphold and support the United Nations Sustainable Development Goals (UNSDGs).

We acknowledge the relationship between the environment and our businesses. While our practices impact the natural environment, climate change, in turn, heightens the risks to the infrastructure and supply chains that support our businesses. In response, we focus on the following key areas to enact Climate Action:
- Managing Energy Consumption: We manage our energy by maximizing fuel efficiency and by exploring alternative sources of energy to decrease dependence on the grid.
- Tracking Greenhouse Gas Emissions: Recognizing their environmental impact, we closely monitor and track our greenhouse gas (GHG) emissions to manage them more effectively.
- Climate Risk Readiness: We understand the risks associated with climate change. That is why we work on preparing the business to address its anticipated detrimental impacts.

We are wholly committed to creating Shared Success. Backed by a well-diversified portfolio, we continue to bring long-term value to our stakeholders through the economic opportunities that our business activities provide. We focus on the following key areas:
- Economic Flows to Society: We ensure that our direct economic contributions benefit society by creating economic opportunities for our stakeholders.
- Economic Outcomes of Our Business: We provide indirect economic contribution through provisions of accessible, relevant, and high-quality products and services, including financial options, increased land and air travel access, and creation of products and services to generate economic activities.
- The Social Impacts of Our Community Investments: Beyond our operations, we strive to enhance the quality of life in communities by investing in education, financial literacy, sustainable livelihoods, and overall well-being.

While mitigating risks such as natural disasters and supply shortages are crucial to the operations of JG Summit, we believe that our sustained success ultimately depends on our consistent delivery of high-quality products and services. We are committed to providing Better Choices to all Filipinos and improving their quality of life through the following key focus areas:
- Design Innovation toward Quality and Excellence: Through design excellence, we deliver products and services that are both functional and tailored to enhance the user experience.
- Ensuring Customer Well-being: We prioritize the well-being of our customers by maintaining high-quality standards across all our brands, ensuring that our products and services consistently meet their needs.
- Driving Quality at the Supply Chain: We commit to ensuring quality across the supply chain by following a rigorous supplier accreditation policy.
- Reaching Underserved Markets: We are focused on innovating our products and services to break down systemic barriers and meet the needs of underserved markets.
- Listening to our Customers: To maintain customer satisfaction and loyalty, we proactively listen to their feedback and anticipate their needs.

Finite resources represent another critical environmental issue that we address through Resource Efficiency and Circularity. In this area, we focus on optimizing material use and reducing waste. URC spearheads the company's circular practices by repurposing disposed materials for reuse in operations and packaging. Additionally, our various business units promote responsible waste management through national campaigns and community programs. By maximizing the value of materials with each use, we not only reduce waste but also lower long-term operational costs.
We focus on the following key areas:
- Efficient Resource Use: We strive to use materials more efficiently, minimizing our environmental impact while generating savings.
- Responsible Waste Management: In collaboration with government agencies, local communities, and organizations, we establish systems to manage both hazardous and non-hazardous waste.
- From Waste to Resources: We explore opportunities for material circularity by repurposing waste and reintegrating it into our value chain.
- Environmental Compliance: We adhere to environmental laws and regulations, which are fundamental to our resource and waste management practices.

We implement measures to protect, engage, and develop the lifeblood of the company: our employees. Different systems are in place for employee welfare at our various strategic business units, depending on the nature of the industry, from the strict safety protocols at JG Summit Olefins and Cebu Pacific to the leadership development programs at the JG Institute for Leadership and Enterprise Development (JG-ILED). Recognizing that our workforce is integral to the design, quality, and innovation of our products and services, the company fosters a safe, inclusive workplace with abundant opportunities for career growth, as part of our commitment to Employee Growth and Well-Being.
We focus on the following key areas:
- Fostering a Diverse Workforce: At JG Summit, we recognize the value of a diverse and inclusive workplace. We maintain a team with a broad range of backgrounds and expertise to drive sustained business growth.
- Leadership Development: Through top leadership development programs, we align JG Summit’s core values and goals with those of our employees, guiding them to embody our commitment to excellence.
- Employees as Long-term Partners: We place great importance on building long-term partnerships with our employees, acknowledging their value to the company.
