Yinson Integrated Annual Report 2025

63 INTEGRATED ANNUAL REPORT 2025 BUSINESS REVIEW | YINSON PRODUCTION FY2025 670 FY2024 658 470 603 402 300 IFRS EBITDA (USD million) FY2025 FY2024 Enterprise Reporting EBITDA (USD million) FY2025 FY2024 Adjusted Enterprise Reporting EBITDA (USD million) * Adjusted Enterprise Reporting EBITDA excludes progress milestones earned and mobilisation fees, which are non-recurring in nature. In FY2025, Yinson Production introduced Enterprise Reporting as a supplementary disclosure to the statutory financial reporting under IFRS. Enterprise Reporting is used by management to track and assess the company’s financial performance and to enhance transparency for all stakeholders by providing a clearer and more meaningful view of Yinson Production’s financial performance and position. It enables investors to gain a more balanced understanding of the results in conjunction with the business model, and benchmark Yinson Production’s performance against other energy infrastructure companies. Scan to view Yinson Production’s financial statements. ENTERPRISE REPORTING FINANCIAL RESULTS (USD million) Revenue FY2024 707 FY2025 608 -14% Adjusted EBITDA Net Income FY2024 300 FY2025 402 +34% 42% 66% Adjusted EBITDA Margin % 49% Net Profit Margin % FY2024 346 FY2025 -58% In FY2025, we delivered strong financial results in a transitional year marked by the delivery of two vessels. Whilst revenues declined slightly YoY under Enterprise Reporting – primarily due to lower contractual milestone payments for the Agogo FPSO as the construction progressed – Adjusted EBITDA increased by 34% YoY to USD 402 million. This growth was driven by the first full year of operations of FPSO Anna Nery, and the commencement of operations for FPSO Maria Quitéria in October 2024. The decline in net income was mainly attributable to higher interest expenses, whilst FPSO Atlanta has yet to contribute meaningfully to revenues. 24% 146 A core principle in Enterprise Reporting is the treatment of lease contracts. Whilst IFRS requires most of our contracts to be accounted for as finance leases – resulting in a front-loaded recognition of non-cash revenues and profits during the construction phase of assets – Enterprise Reporting treats all lease contracts as operating leases. This approach better aligns with the cash revenue generation profile of our business, where revenue is typically earned through charter payments during the lease and operate phase of our assets instead of the construction phase. By converting finance leases into operating leases and eliminating the effects of non-cash revenue recognition during the construction phase under IFRS finance lease accounting, Enterprise Reporting provides a more accurate reflection of Yinson Production’s underlying cash revenue generation and operating performance. Additionally, Enterprise Reporting applies proportionate consolidation, presenting our financial statements based on Yinson Production’s actual ownership interest in each asset, rather than full consolidation of all controlled assets as required under IFRS. This methodology becomes increasingly relevant and provides a more representative view of Yinson Production’s financial performance and position, as we have more equity partners at the asset level. Enterprise Reporting financial results were first published as supplementary information to Yinson Production’s Q4 FY2025 results, and are now also presented as supplementary information to Yinson Production’s FY2025 audited financial statements. The financial statements are available in full on Yinson Production’s corporate website. ENHANCING TRANSPARENCY WITH THE INTRODUCTION OF ENTERPRISE REPORTING

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