MISC BERHAD INTEGRATED ANNUAL REPORT 2025 SEC 01 INTRODUCTION 02 08 05 11 03 09 06 12 04 10 07 13 #deliveringProgress 2 www.miscgroup.com 3 www.miscgroup.com ABOUT THIS REPORT MISC’S 2025 INTEGRATED REPORTING SUITE We are pleased to present MISC Berhad’s (“MISC” or “the Group”) Integrated Annual Report 2025, which provides a balanced and fair assessment of how the Group creates value for its stakeholders. This report outlines our material matters, business strategies, risks and corporate governance practices, as well as financial and non-financial performance. It also highlights the Group’s ongoing efforts to advance innovation and low-carbon solutions in support of our value creation approach. REPORTING SCOPE AND BOUNDARIES This Integrated Annual Report (IAR) covers MISC Berhad, its subsidiaries, associates and joint ventures, collectively referred to as MISC or the Group. The reporting period is from 1 January to 31 December 2025 unless stated otherwise and includes material events up to the date of publication. Any material developments after publication will be communicated through Bursa Malaysia or other public channels. The information presented relates to the Group’s business activities and operations across Gas Assets & Solutions, Petroleum & Products, Offshore, Marine & Heavy Engineering, Marine Services and Maritime Education & Training. MATERIALITY The information in this IAR is based on material matters that are most important to the Group and its stakeholders. In determining these matters, we considered issues that affect our ability to execute our strategies, create value and sustain long-term financial and non-financial performance. The assessment also reflects recognised risks and the interests of key stakeholder groups. DEMONSTRATING OUR INTEGRATED THINKING This report outlines how the Group creates value through its corporate and sustainability strategies. It maps the connections between our financial and non-financial capitals, material topics, stakeholder expectations, strategic objectives, and the risks and opportunities that influence our decisions. While cost–benefit considerations inform the level of detail in certain disclosures, we do not omit information that is material to understanding our value creation. SUSTAINABILITY RISKS AND GOVERNANCE Across our operating markets, we consider material economic, environmental, social and governance (EES&G) principles when developing our strategies, policies and initiatives. EES&G-related risk management is embedded within our performance modelling to support effective decision-making. FORWARD-LOOKING STATEMENTS This IAR includes forward-looking statements that reflect the Group’s expectations of its future value creation prospects. As the operating environment is dynamic and the industry in which MISC operates involves inherent uncertainties, actual outcomes may differ from these expectations. These statements should therefore not be regarded as guarantees of future performance. RESPONSIBILITY STATEMENT The Board of Directors acknowledges its responsibility in ensuring the integrity of the MISC Berhad Integrated Annual Report 2025. In the Board’s opinion, this report has addressed all material issues and matters and fairly presents the Group’s performance for the year 2025. This report has been prepared in accordance with the International Integrated Reporting <IR> Framework. Approved by the Board of Directors on 23 February 2026 and signed on behalf of the Board: KEY FRAMEWORKS APPLIED ACROSS THE INTEGRATED REPORTING SUITE IAR SR FR Reporting Standards/Frameworks/Guidelines International <IR> Framework issued by the International Integrated Reporting Council (IIRC) Malaysian Financial Reporting Standards (MFRS) International Financial Reporting Standards (IFRS) National Sustainability Reporting Framework (NSRF) IFRS Sustainability Disclosure Standards (S1 and S2) Sustainability Accounting Standards Board (SASB) Standards Global Reporting Initiative (GRI) Standards AA1000 Stakeholder Engagement Standard United Nations Global Compact Guiding Principles United Nations Guiding Principles on Business and Human Rights Principles of Climate Governance by World Economic Forum United Nations Sustainable Development Goals (SDGs) Regulatory Requirements Main Market Listing Requirements (MMLR) issued by Bursa Malaysia Companies Act 2016 (CA 2016) Malaysian Code on Corporate Governance 2021 Corporate Governance Guide (4th Edition) issued by Bursa Malaysia External Benchmarks/Indices/Ratings/Assessments FTSE4Good Bursa Malaysia Index Carbon Disclosure Project (CDP) MSCI ESG Ratings Morningstar Sustainalytics ESG Risk Ratings S&P Corporate Sustainability Assessment INTEGRATED ANNUAL REPORT (IAR) 2025 Provides shareholders and stakeholders with an integrated view of the Group’s financial and non-financial performance, value creation and strategic direction. It covers the external operating environment, business model, strategy, achievements, material matters, corporate governance and risk management. SUSTAINABILITY REPORT (SR) 2025 Presents the Group’s sustainability strategy, initiatives and performance across key environmental, social and governance (ESG) areas to support transparency in our ESG disclosures with a dedicated section on Sustainability-related Financial Disclosures aligned with the International Financial Reporting Standards (IFRS®) issued by the International Sustainability Standards Board (ISSB). FINANCIAL REPORT (FR) 2025 Contains the Group’s detailed financial disclosures, including the Directors’ Report, Audited Financial Statements and Independent Auditors’ Report, prepared in accordance with applicable financial reporting standards. DATUK ABU HURAIRA ABU YAZID Chairman ZAHID OSMAN President & Group Chief Executive Officer • The financial information in this report is derived from the consolidated Audited Financial Statements for the year ended 31 December 2025, which were audited by Ernst & Young PLT. • MISC obtained independent limited assurance on selected sustainability performance data for the year ended 31 December 2025. The independent assurance statement is presented in the Sustainability Report 2025. ASSURANCE A CONNECTED NARRATIVE OF VALUE CREATION These frameworks guide the structure, content and assurance of MISC’s integrated reporting:
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