4 INTEGRATED ANNUAL REPORT 2025 ABOUT THIS REPORT This integrated report aims to provide an accurate and concise overview of all material matters and describe how the NCT group achieved its business goals and created value for the financial year ended 28 February 2025. The NCT group includes NCT Forestry Agricultural Co-operative Limited and its subsidiaries (please refer to our governance section). This report contains both financial and non-financial information and has been compiled by management. Materiality was determined by the impact a reporting item might have on our stakeholders. This Report was prepared in accordance with International Financial Reporting Standards (IFRS) for Small and Mediumsized Enterprises (SME), the requirements of the Companies Act (where applicable), the Co-operatives Act, the principles of King IV and the International Integrated Reporting Framework. Co-operative Reports The Board is not required to complete a social report, or a management decision report as stipulated in regulations 33 and 34 of the Co-operative Act 14 of 2005 respectively as NCT is a category C co-operative and the annual financial statements are independently audited. The Board certifies that to the best of their knowledge and belief the social and ethical performance of NCT is in relation with its vision, mission, and goals and within the scope of the NCT Constitution as monitored by the Social and Ethics Committee. The Board further certifies that to the best of their knowledge and belief NCT has complied with all legal requirements and the NCT Constitution. This integrated report sets out much of the details ordinarily required by the social report, and the management decision report.
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