127 INTEGRATED ANNUAL REPORT 2026 GOVERNANCE | OTHER COMPLIANCE INFORMATION STATUS OF CORPORATE PROPOSALS AND UTILISATION OF PROCEEDS USD1 billion Redeemable Convertible Preferred Shares (“RCPS”) and Warrants Issue (option to upsize to USD1.5 billion) On 14 January 2025, Yinson Production Offshore Holdings Limited (the “Issuer” or “YPOHL”), an indirectly wholly-owned subsidiary of the Company, had entered into a conditional subscription agreement for the issuance to Platinum Lily B 2024 RSC Limited, IMCPE Arbutus INV Limited Partnership, EOS Investment Limited Partnership, Galant Asset Holding Ltd and Hampton Asset Holding Ltd (collectively, the “Investors”) of the following: 1. 1,000,000 new RCPS at an aggregate subscription price of USD1.0 billion; 2. 1,000,000 new warrants for an aggregate consideration of USD1.00 to each investor in each tranche; and 3. Subject to mutual agreement between the Issuer and the Investors, and subject to the Fourth Tranche Closing, up to a further 500,000 RCPS at an aggregate subscription price of USD0.5 billion. In addition, YPOHL, Yinson Global Corporation (S) Pte Ltd (as the controlling shareholder) and the Investors had also entered into a shareholder’s agreement to govern the relationship of the parties on the undertaking of the business of YPOHL and its group of companies. As at the date of this report, the First and Second Tranche Closings of the RCPS were completed on 16 June 2025 and 16 December 2025, respectively, following the total issuance to the Investors of 500,000 RCPS and 500,000 Warrants at the subscription consideration of USD500 million (RM2,122 million). Please refer to Note 48 of the Audited Financial Statements for further details. The details of the utilisation of the proceeds as at 14 May 2026 are as follows: Description Estimated timeframe for utilisation* In USD’000 In MYR’000 Proposed Utilisation Actual Utilisation Unutilised amount Proposed Utilisation Actual Utilisation Unutilised amount For the Group’s offshore production business: General corporate purposes Within 18 months 784,500 94,071 690,429 3,106,228 372,474 2,733,754 Estimated expenses relating to RCPS and Warrants Issue Within 12 months 15,500 10,079 5,421 61,372 39,908 21,464 800,000 104,150 695,850 3,167,600 412,382 2,755,218 For the Company and its other businesses: Expansion of renewable energy business Within 18 months 60,000 39,000 21,000 237,570 154,421 83,149 Expansion of green technology business Within 18 months 20,000 29,213 (9,213) 79,190 115,669 (36,479) Repayment of bank borrowings Within 18 months 20,000 20,000 - 79,190 79,190 - Working capital for the Company Within 18 months 70,000 83,587 (13,587) 277,165 330,963 (53,798) Distribution to shareholders of The Company through share buy-back and/or dividends Within 18 months 30,000 11,000 19,000 118,785 43,555 75,230 200,000 182,800 17,200 791,900 723,798 68,102 Total 1,000,000 286,950 713,050 3,959,500 1,136,180 2,823,320 * From the receipt of funds AUDIT AND NON-AUDIT FEES The amount of audit and non-audit fees paid to the Company’s External Auditors, PricewaterhouseCoopers PLT and its affiliates for the services rendered to the Group and the Company for FY2026, are as follows: Particulars Group RM’000 Company RM’000 Audit Fees 9,580 589 Non-Audit Fees 3,627 108 Percentage of Non-Audit Fees over Audit Fees 38% 18% OTHER COMPLIANCE INFORMATION
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