ENVIRONMENTAL STEWARDSHIP Energy Management and Climate Action As the oil and gas industry continues to adopt more environmentally conscious practices, prioritising energy efficiency not only supports sector-wide decarbonisation efforts but also contributes to long-term cost savings. The Group continues to implement energy management solutions, with hybrid engine technology and solar power installed across two vessels. While still in its early stages, these initiatives represent ongoing steps towards managing GHG emissions, enhancing operational resilience, and building readiness for potential carbon pricing and climate regulations. Energy In compliance with Annex VI of MARPOL, our vessels are equipped with the SEEMP. The SEEMP serves as a framework to enhance our vessel’s energy efficiency while minimising operational costs. The framework guides us to explore innovative technologies and adopt best practices at every stage. Out of 14 vessels owned by Keyfield, 13 are utilising the SEEMP, with the exception of Keyfield Wisdom, a non-propelled accommodation work barge to which the SEEMP is not applicable. As stipulated by MARPOL, we follow SOPs to ensure thorough cleaning of the hull and appurtenances during dry docking once every 5 years. This practice enhances energy efficiency and reduces GHG emissions of our vessels by minimising the drag caused by biofouling, such as the accumulation of barnacles and algae. Total energy consumption in FYE 2025 presented in megawatt-hours (“MWh”) and gigajoules (“GJ”), amounted to 41,541 MWh (equivalent to 149,549 GJ), compared to 19,594 MWh (equivalent to 70,538 GJ) in FYE 2024. The increase is mainly driven by a higher number of vessel off-hire days. Energy consumption was attributable to our vessels’ operations during transit and idle periods. Despite the rise in total energy consumption, energy consumption intensity improved to 74 GJ per total off-hire day in FYE 2025 compared to 85 GJ per total offhire day in FYE 2024. Keyfield Falcon is equipped with a hybrid diesel-electric engine, significantly enhancing fuel efficiency and reducing GHG emissions by balancing energy loads and optimising engine performance. Additionally, hybrid systems provide operational flexibility, allowing vessels to manoeuvre using battery power, thereby cutting fuel consumption, particularly in ports. This provides a competitive edge by attracting clients focused on sustainability and cost efficiency. Keyfield Wisdom completed the installation of a solar photovoltaic system that generates up to 121.2 kWp to support the vessel’s electricity needs in January 2025. This system will reduce fuel consumption and emissions, providing operational cost savings while enhancing the vessel’s appeal to environmentally-conscious clients seeking sustainable solutions. Keyfield is committed to maintaining high standards of environmental protection across its fleet and facilities. The Group’s vessels comply with MARPOL Annex VI through the use of MGO to reduce sulphur emissions and particulates, while the Shipboard Oil Pollution Emergency Plans (“SOPEP”) and Ballast Water Treatment Systems support spill response and marine ecosystem protection. Regular dry dock hull cleaning and maintenance are also carried out to improve vessel efficiency and reduce fuel consumption. Total Energy Consumption Increased to 41,541 MWh (equivalent to 149,549 GJ) in FYE 2025 from 19,594 MWh (equivalent to 70,538 GJ) in FYE 2024 63 Annual Report 2025
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