MANAGING DIRECTOR’S MESSAGE (continued)

We recognize that the actions of every participant in our society has an impact on the environment, and we are no exception: from the energy and resources we use, to the products we manufacture and the waste we generate. We advocate for everyone to find ways to reduce energy use, water consumption and waste.

We lead by example as we donate the nutrientrich by-product of brewing (spent grain) to our local farmers. All our products are packaged in returnable containers and crates, that can be crushed and returned to manufacturers for reuse. We diligently observe water efficiency practices and have replaced most of our lighting fixtures with LED lights. To reduce our energy consumption, we will be implementing an onsite solar energy project in 2023.

Based on our belief that education and training is necessary for development, we partnered with T. A. Marryshow Community College to provide on-the-job training to student mechanics and also provided full scholarship to four TAMCC students. As part of our mandate to support the communities where we operate, we helped numerous schools and social groups, remained a major sponsor of both primary and secondary schools’ athletic meets, sponsored numerous football and cricket competitions, and cultural festivals including our premier celebration –Spice Mas.

Upholding high standards of corporate ethics is key to long-term value creation and will contribute directly to improved business performance. Based on this belief each employee has a vital role in ensuring that the Company maintains the high standards of ethical conduct that our customers and stakeholders expect.

The Board Directors is responsible for determining the Company’s risk profile and policy, which are designed to achieve the Company’s objectives, to assess and manage the Company’s risks and to ensure that sound internal risk management and control systems are in place. The Board is ably supported by the Audit Committee, which provides oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations; the checks and balances ensuring that we account appropriately and manage prudently.

Various audits are performed to ensure that CBG’s procedures and processes are current and compliant. Furthermore, corrective actions are taken to close any gaps or bottlenecks with the assistance of ANSA McAL Group resources or other experts. One such gap, data privacy and data protection to mitigate against cyber attacks was progressed in 2022 with the support of ANSA McAL Information Technology expertise.

Our safety programmes underpin a safety-first culture. A critical part of this culture is ensuring that our employees can report both unsafe conditions and unsafe behaviours without fear of negative consequences. This has been embraced by our employees and contractors. During the year, we performed a detailed analysis of safety incidents to better understand the key factors that influence safety risks, the outcome of which led to increased safety communications, training and development. Road safety is of utmost importance to our business, thus we focused employee training on defensive driving techniques.

The health and well-being of our employees is of paramount importance. In 2022, CBG partnered with health professionals to hold a health fair where numerous health checks were performed. This was well supported by all employees and will become an annual activity.

There is little doubt that education and training is the first step toward improving competitiveness and delivering value. In 2022, we upskilled our workforce with training in Information Technology, Food Safety, Health and Safety, Human Resources, and Finance/ Accounting.

Our people agenda this year has focused on improving employee engagement We have harnessed technology to increase the frequency of communications across the organization and increased the frequency of in-person meetings, including town-halls and toolbox meetings where employees were encouraged to share feedback and partake in company activities. Our employee rewards and recognition programs have been stepped up with awards for Employee and Supervisor of the Month and Quarter, Caught in the Act, and Trailblazer awards.

The extraordinary events of the last few years have presented enormous challenges in delivering growth. I am grateful to the management team for the very capable way in which they have led the business through this turbulent period, and to our employees who delivered robust results. I also wish to thank the Board of Directors for their wise counsel and support during the year.

Our 2023 priorities will be to drive organic top-line growth, brand investment, and improved productivity and efficiencies through investments in people, plant and machinery. Based on economic reports, 2023 is going to be another challenging year; but with time, we are more prepared to face these challenges. I am confident that our strategic priorities, and our people, will position us well to deliver sustainable growth and value to all stakeholders.

Ron Antoine Managing Director