About the Report

This integrated annual report covers the operations of Sunshine Holdings PLC and its three core verticals, nine business units and various partnerships – collectively referred to as the Group – based in Colombo, Sri Lanka, for the period of 1 April 2024 to 31 March 2025.

The report seeks to present a cohesive narrative of the Group’s performance, its business model, governance structure and other factors along with its future outlook. In close adherence to the International Framework of the IFRS Foundation and alignment with the Global Reporting Initiative (GRI) Standards, the report reflects our commitment to transparency, accountability, and long-term value creation as a diversified conglomerate.

This document consolidates the activities of Sunshine and all its subsidiaries across Healthcare, Consumer Goods, Agribusiness, and other investment segments, providing a balanced account of both financial and non-financial performance, drawing from audited financial statements, Board-level insights, internal reviews, and stakeholder engagements, offering retrospective analysis, with some forward-looking context.

At Sunshine, we view integrated reporting not as a compliance tool but as a way to explain how we convert multiple capital inputs – financial, manufactured, intellectual, human, social, and natural – into sustained stakeholder value. Our disclosure framework reflects the integrated thinking embedded across the Group.

In 2024-25, we continued to align our reporting architecture with global disclosure standards, particularly in anticipation of future listing-readiness milestones. Our internal reporting systems, ESG frameworks, and strategic communication platforms have evolved to support greater depth, consistency, and assurance in our disclosures. This report also supports our broader S1 and S2 transformation journey, reinforcing the role of integrated thinking in strategy execution, capital allocation and long-term value creation.

The preparation of this report was a cross-functional exercise, drawing on inputs from every segment and function. This collaborative approach ensures that the insights shared reflect the realities of execution across the Group and align with our roadmap for sustainability, operational resilience and governance reform.

Stakeholder analysis and engagement

Our stakeholders include individuals and groups whose lives, interests, or activities are affected by our operations. Their insights and expectations significantly influence how we shape strategy, manage risk and deliver value.

Every touchpoint across Sunshine Holdings is an opportunity for engagement, whether with customers, employees, suppliers, regulators, or shareholders. This decentralised approach empowers employees at all levels to build trust, surface new opportunities, and strengthen the Group’s long-term relevance.

Through structured and informal engagement, we aim to understand stakeholder priorities and balance the equitable distribution of the value we create. These interactions not only guide strategic alignment but also drive innovation, responsiveness and resilience.

Key stakeholders	Method	Frequency	Material issues/concerns
Investors	Investor forums Annual Report Annual General Meeting Extraordinary General Meeting Press releases	Quarterly Biannually Annually	Operational viability and returns Ethical and responsible corporate conduct Timely disclosures
Employees	Staff meetings Performance reviews Training Staff circulars Newsletters Employee surveys Awards Networking events Intranet	Daily Monthly Quarterly Biannually Annually	Fair labour practices Industry competitive compensation and benefits Skills development Career development
Customers	One-to-one meetings Correspondence Direct marketing Advertising on print and electronic media Official website Brochures and leaflets Press releases	Regularly	Quality and standards of products and services Product information Customer service Ethical business practices
Statutory and regulatory bodies	Meetings Correspondence Filing disclosures Audits	Regularly	Compliance with statutory and regulatory requirements Uphold good governance and effective risk management practices
Business partners	Meetings Correspondence Site visits Conferences Workshops Roadshows Training Annual Report	Regularly	Corporate reputation and standing Financial performance Ethical business practices Risk management
Society	Sponsorships National Campaigns Awareness programmes Discussions with policy makers, community leaders and not-for-profit organisations Community projects	As and when required	Creating business opportunities Employment Philanthropy Environmental best practices Policy advocacy

Materiality

Our value creation strategy is rooted in understanding and responding to what matters most, to our stakeholders as well as to the sustainability of our business. Material topics are identified based on their potential to influence Sunshine’s capacity to generate value in the short, medium and long terms.

Each topic is assessed for relevance, impact and likelihood of occurrence and categorised as a risk, opportunity, or both. This materiality analysis underpins the four strategic imperatives outlined in the Strategy section of this report, providing the foundation for our corporate priorities and resource allocation.

Management approach

Material topics are managed through our strategic planning process and owned by relevant business heads. They are integrated into Key Performance Indicators (KPIs) and reviewed regularly to ensure effective execution.

Governance frameworks, including Board-endorsed policies and internal controls, ensure that material issues are addressed with integrity, transparency and accountability. These policies are updated periodically to reflect evolving expectations and environmental dynamics.

Grievance mechanisms are in place, with divisional leadership responsible for resolution. Regular internal and external audits verify compliance, with findings escalated to the Board or management committees for corrective action.