65 INTEGRATED ANNUAL REPORT 2025 BUSINESS REVIEW | YINSON PRODUCTION MEETING OUR STRATEGIC GOALS AND SCALING FOR THE FUTURE Strategic goals (2025 – 2035) • Lead the lease and operate space for mid-sized FPSOs. • Lead in technological and digital innovation to deliver industry-leading performance and ESG standards. • Achieve a resilient financial ecosystem to support sustained value creation. • Establish synergistic businesses within the offshore energy ecosystem. Strategies • Secure quality projects that align with our strategic goals and deliver them safely, on time and on budget. • Maintain industry-leading uptime and safety performance. • Invest in digitalisation and technologies to increase productivity, enhance asset efficiency, and promote environmental sustainability. • Ensure access to financing and broaden the funding base, optimise capital structure and increase capital velocity to support growth and capture market opportunities. • Explore and develop businesses that leverage our core expertise and meet the needs of the offshore energy industry. • Build a world-class leadership team and workforce. In 2025, Yinson Production remains committed to scaling our business to capitalise on opportunities in the changing market environment, while enhancing operational efficiency. Key priorities include delivering first oil for Agogo FPSO, winning more of the right projects, expanding our low-carbon portfolio, strengthening financial resilience, and deepening our stakeholder engagement. We will look into ways to work even more smartly and with the right structure. We remain focused on driving value creation, advancing our strategic growth plans, and shaping the future of offshore energy production. With our lean and expert team, we can move faster, adapt better to client needs, and manage our capital more efficiently. Yinson Production is strategically positioned within the mid-sized FPSO segment, where the focus is primarily on converting VLCCs rather than new builds. This targeted approach gives us a distinct advantage, as we have a strong track record and expertise in this niche compared to other players, who generally operate in different segments. Over the past decade, Yinson Production has consistently secured and delivered conversion and redeployment projects in this segment, solidifying our leadership position. There are very few FPSO contractors that are able to deliver FPSO projects that are becoming increasingly complex and capital-intensive, leaving us well-positioned to lead in the projects we pursue. Looking ahead, we aim to secure one to two new mid-sized FPSO projects per year. This balanced approach optimises our resources, leverages our expertise and provides flexibility to adapt to fluctuating market demand while ensuring steady cash flows to support our growth without further shareholder cash calls. CLOSING REMARKS As we navigate 2025 and look to the future, I am confident that Yinson Production's commitment to strategic growth, operational excellence, and sustainability positions us for continued success in the evolving offshore energy landscape. With our unique edge in mid-sized FPSOs and lean expert team, I believe we are well-equipped to drive value creation and capitalise on new opportunities. I would like to extend my sincerest gratitude to our dedicated colleagues, project teams, and operations personnel for their tireless efforts. To our valued stakeholders, including clients, partners, and investors, thank you for your trust and support. I look forward to working together to shape the future of offshore energy production. Purpose To design, construct, and operate industry-leading production assets for the offshore oil & gas industry towards improving global access to stable and affordable energy.
RkJQdWJsaXNoZXIy NDgzMzc=