MISC BERHAD INTEGRATED ANNUAL REPORT 2025 SEC 03 KEY MESSAGES 08 05 11 09 06 12 04 10 07 13 01 02 20 www.miscgroup.com 21 www.miscgroup.com #deliveringProgress PRESIDENT & GROUP CHIEF EXECUTIVE OFFICER’S MESSAGE We secured new contract awards across all business segments during the year, underscoring the breadth and competitiveness of our portfolio. DELIVERING PROGRESS TOWARDS OUR MISC 2030 AMBITION Despite ongoing uncertainty, we continued to make steady and significant progress in all three pillars of the MISC 2030 Ambition. We strengthened our Resilient Core, progressed on the Profitable New Energy Business and advanced our Decarbonisation initiatives to ensure the long-term competitiveness and sustainability of our business. 2025 was a strong year for MISC. We delivered solid financial results while continuing to make significant progress across the three pillars of our MISC 2030 Ambition. During the year, we continued strengthening our core businesses while advancing selected new energy initiatives and reducing emissions through fleet renewal and operational improvements. These efforts have further enhanced earnings visibility and cemented the Group’s foundation for sustainable long-term growth. PROFIT BEFORE TAX NET CASH GENERATED FROM OPERATING ACTIVITIES FOCUSED EXECUTION AMID VOLATILITY AND UNCERTAINTY In 2025, volatility persisted in our operating environment, shaped by geopolitical tensions and shifting market conditions. In navigating this landscape, our clear priority was to protect and strengthen our business today while preparing MISC for opportunities ahead. We focused on maintaining earnings resilience, preserving strong cash flow and allocating capital with discipline. At the same time, we continued advancing the initiatives under our MISC 2030 Ambition to ensure the Group remains competitive and well-positioned as the maritime landscape evolves. FINANCIAL PERFORMANCE Our consistent execution translated into stronger financial outcomes in 2025. For the financial year ended 31 December 2025, profit before tax rose by 45% to RM1,862.0 million (FY2024: RM1,283.5 million), supported by stronger Offshore segment contributions and lower impairment provisions compared with the prior year. Net cash generated from operating activities increased to RM5,656.1 million (FY2024: RM4,276.8 million), up 32%, reflecting improved earnings quality and cash generation during the year. The improved performance enabled higher dividends declared to shareholders, underscoring our commitment to delivering sustainable returns while maintaining financial discipline. This strengthened financial position enhances our flexibility to fund capital commitments, pursue targeted growth opportunities and continue advancing the MISC 2030 Ambition with discipline while preserving balance sheet resilience. PRESIDENT & GROUP CHIEF EXECUTIVE OFFICER’S MESSAGE Our Resilient Core remains the backbone of the Group. It provides earnings stability through long-term contracts, disciplined fleet renewal and selective asset monetisation. In 2025, we strengthened the portfolio through the delivery of seven LNGCs to QatarEnergy with consortium partners Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha, Ltd. (K Line) and China LNG Shipping (Holdings) Limited (CLNG), including five vessels delivered ahead of schedule. We commissioned FSU Puteri Delima Satu at the PETRONAS LNG Regasification Terminal Pengerang (RGTP) in Johor, contributing to national gas supply security and completing the project with over 500,000 man-hours recorded without a Lost Time Injury. Importantly, we secured new contract awards across all business segments during the year, underscoring the breadth and competitiveness of our portfolio. Within the Petroleum & Products segment, we secured long-term charters for two LNG dual-fuel Suezmax vessels, completing dual-fuel capability in all our tanker classes. In the Gas Assets & Solutions (GAS) Business segment, long-term charters with PTT Public Company Limited (PTT) for two VLECs expanded our specialised gas transportation capabilities. Our Offshore segment entered the Brunei market through its first FPU project with PCBL, expanding our operating footprint into a new market. MHB also secured wellhead platform EPCIC contracts from VESTIGO, improving the order book for the business. These actions reinforced the strength and reliability of our core businesses, providing stability and financial capacity to support disciplined investment in new energy and decarbonisation initiatives. Resilient Core SP1 ZAHID OSMAN President & Group Chief Executive Officer compared to FY2024 compared to FY2024 45% 32% Dear Stakeholders,
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