Yinson Integrated Annual Report 2025

103 INTEGRATED ANNUAL REPORT 2025 SUSTAINABILITY REVIEW | DRIVING SUSTAINABLE GROWTH THROUGH GOOD CORPORATE GOVERNANCE To manage our financial risks, we take several steps: • Maintain robust corporate Tax, Treasury, and Finance functions at both Group and business levels. • Maintain strong and effective financial controls and systems throughout the Group. • Uphold a solid track record of project execution, delivery and operations. • Build strong, long-term financial partnerships. • Invite strategic partners to participate in our projects, managing our overall portfolio mix. • Develop sustainable business models where stable recurring income is received from asset-leasing contracts. • Structure financing with a long-term vision to optimise capital structure and re-profile debt servicing requirements. • Build a diverse portfolio of projects by growing and developing new businesses. • Hedge against interest rate volatility by entering into floating-to-fixed interest rate swaps and issuing fixed-rate debt securities. Capital strategies Two of our six Group strategies are capital focused: GS3 − Create sustainable stakeholder value, and GS4 − Disciplined financial management. Managing our leverage indicators Adhering to our financial covenants and debt servicing requirements is crucial when planning and executing our capital strategies and market activities. This approach acts as both a risk management measure and a means to ensure we are building our businesses on an optimal capital structure. We manage our operational funding structure to facilitate smooth repayment throughout the contracted periods of our assets. A key aspect of Yinson’s project financing loans is that they become non-recourse to Yinson once operational, meaning Yinson’s guarantee is released from the project financing loan. At this point, the project financing lenders are only entitled to repayment from the cash flows generated by the specific projects being financed, and not from any other Yinson assets. Financing activities, pg 39. Investor relations and stakeholder engagement We ensure compliance with all mandatory disclosure requirements. However, our commitment to stakeholder engagement goes well beyond these requirements. We actively engage with our stakeholders to communicate our value proposition and gather feedback, ensuring sustainable, mutually beneficial relationships. By involving stakeholders in our decision-making processes, we align our actions with the interests and values of those we impact, promoting transparency and shared success. Key initiatives undertaken during the year are: • Capital raising exercises to finance equity in long-term investments. For example, a RM120 million ordinary shares private placement exercise in March 2024 was executed to support investments into our energy transition businesses. • Refinancing exercises to re-profile our debt servicing requirements to better match our long-term contracted cash flows. For example, we issued USD 1,035 million senior secured notes to refinance FPSO Anna Nery project financing, and RM640 million Islamic notes in March 2024 to refinance previously issued USD 120 million perpetual bonds. • Capital recycling exercises such as completing the minority stake sale in FPSO Anna Nery to Kawasaki Kisen Kaisha, Ltd (“K” Line) in October 2024. Cash flow and liquidity management Maintaining a readily available cash position provides a solid foundation for Yinson’s growth and enables us to handle unforeseen cash requirements. Our cash reserves are derived from a mix of operational cash flows, financial capital raised and loans and borrowings drawn down for pending project deployment. We prioritise ensuring sufficient cash availability to meet our operational needs based on cash flow projections. Yinson’s Corporate Treasury Policy contains guidelines for managing our free cash, with the primary objectives of preserving capital and maintaining liquidity while enhancing our risk management and supporting the decision-making process regarding our financial activities. Key aspects of our liquidity management strategy include: • Ensuring an optimal mix of high-quality liquid investments and sufficient cash buffers to address unexpected cash outflows. • Maintaining 5-year cash flow projections to align long-term financial capital allocation with project capital expenditure requirements. • Utilising reasonable assumptions regarding ongoing operations and secured project financing, ensuring adequate liquidity for the next five years. • Conduct regular stress tests to evaluate cash flow vulnerability in challenging situations and implement necessary action plans. Enterprise Risk Management, pg 139; ERM Framework review, pg 140. Our capital strategy includes: • Project level: Focuses on equity sell-down, refinancing and re-leveraging to enhance cash flows and returns on ongoing investments, accelerating the deployment of returns into new projects. • Platform level: Utilises long-term equity structures such as perpetual securities and Sukuk Mudharabah to raise capital without diluting existing shareholding equity. • Corporate borrowings: Provides flexibility in funding equity requirements, with strong relationships with financing and funding partners enabling innovative deal structures. • Sustainability-linked financial instruments: Includes sustainability-linked sukuk, leveraging our leadership in sustainability and incentivising sustainable business management. • Alternative financing options: Actively explores and innovates with financing partners, including project-level preference shares, non-recourse project financing, junior loans and local currency financing. Keeping our clear strategic focus, pg 31. Gaining global investor confidence, pg 26; Highlight: USD 1 billion investment from ADIA, BCI and RRJ Group, pg 26; Unlocking value through Yinson’s largest equity raise, pg 40. Disclosure and stakeholder communication standards, pg 106; Approach to stakeholder engagement, pg 131.

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