74 YINSON HOLDINGS BERHAD BUSINESS REVIEW At this inflection point in our growth journey, Yinson GreenTech has fine-tuned our strategy to adapt to evolving market dynamics and our current operating reality. The experience we have gained over the last five years since our inception has provided valuable insights into what we should continue building on, and what needs to evolve to achieve our purpose. A key step forward has been identifying our core focus areas: charging infrastructure through chargEV, land transport electrification through drivEV and the marine transport electrification through marinEV. These pillars reflect where we have built strong track records and solid foundations, and that we are committed to grow. We also believe that robust digital infrastructure must underpin all our solutions. This is the underlying focus area that must be continually strengthened to maintain our competitive edge. In the coming year, our priority is to build the profitability of these core focus areas. This involves bold and decisive actions to streamline our operations and sharpen our focus. Accordingly, we have transitioned our two-wheeler segment, rydeEV, out of Yinson GreenTech. It will continue operating as an independent entity and we will maintain a strong working relationship with rydeEV, exploring collaborative opportunities as they arise. For chargEV, we reviewed all sites, prioritising those with strategic and reliable power supply, with a key focus on shopping malls and highways, while discontinuing those which generate lower returns. Operating a leaner but higher quality network of chargers will allow us to focus on improving the charging experience of our customers. This lays the foundation for future growth. At marinEV, we are focused on advancing the commercialisation of our electric vessels through the initiation of Engineering, Procurement and Construction (”EPC“) and leasing activities, aimed at generating stable and recurring income streams to strengthen future cash flows. We are well-positioned for this next phase of growth, with two prototype vessels currently undergoing commercial trials and several strategic and commercial agreements already secured. Our progress is further bolstered by strong interest from key players in the marine industry, along with the valuable support of the MPA of Singapore. In line with our development roadmap, we are on track to launch the enhanced Hydromover 2.0 later this year and are targeting the deployment of our first batch of commercial vessels by the end of 2025. For drivEV, our strategy for doubling our fleet is to elevate our value proposition to clients by delivering solutions that provide real, measurable benefits in terms of operational savings and efficiency improvements. We are making our vehicles smarter and safer through improved telematics and driver assistance, while enhancing our fleet management platform with real-time traffic data, driver management, charging optimisation and AI-driven features such as advanced route optimisation and autocharging. drivEV is also working closely with chargEV to create bundled solutions and co-branding opportunities. In terms of our investee companies, we will continue to review and evaluate their performance to ensure they remain consistent with our strategic direction. These strategic shifts have been accompanied by structural and cultural changes within Yinson GreenTech. I took up the role of Yinson GreenTech CEO in February 2025 to drive this transformation and have been working closely with the Senior Leadership Team to realign our teams and processes to focus on these core areas. Changes will always be challenging but they are yielding results and we are tracking well towards our profitability targets. CLOSING REMARKS As I reflect on the year, I am proud of the bold steps we have taken to evolve Yinson GreenTech into a more focused, efficient, and sustainable organisation. We have sharpened our strategy, streamlined operations and reinforced our commitment to delivering innovative solutions that create value for our customers while driving environmental sustainability. I am inspired by the resilience and adaptability of our team as we implement these changes, and I am confident that our streamlined structure and renewed focus will enable us to deliver our purpose with greater impact. I am also grateful to our partners, clients, investors and regulators for their unwavering support as we pursue this electrification journey together.
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