17 INTEGRATED ANNUAL REPORT 2026 LEADERSHIP MESSAGES | GROUP CEO REVIEW Continue industry-leading operational performance and scaling FPSO business, while actively lowering our emissions profile. Conventional energy sources, including fossil fuels, remain foundational to ensure stability and meet rising global demand. Drive growth in the offshore low-carbon value chain, including CCS, DAC, energy from waste, green and blue ammonia, and floating storage and injection units (FSIU). Renewables, energy storage and low-carbon fuels must scale faster than ever. Expand into adjacent floating production businesses, such as floating liquefied natural gas (FLNG). Accelerate progression of Yinson Renewables pipeline to increase ready-to-build and operational projects. Energy transmission, distribution and interconnection must expand. Expand and commercialise Yinson GreenTech’s suite of electrified transportation solutions. Supply chains must mature to support diversified, secure energy systems. Delivering climate objectives while meeting global demand requires both conventional and new energy to grow, evolve and co-exist. New technologies must scale, grids must strengthen, and supply chains must mature – all while maintaining reliability and affordability for communities and industries. This is not a step back from sustainability; it is a more grounded, inclusive path forward. Across Yinson, our businesses are responding with agility to this macro shift, adapting to their respective operating contexts. This shift aligns naturally with our strengths. It allows us to leverage capabilities built over decades, while expanding into emerging opportunities. It sharpens our strategic focus: continue improving the emissions profile of established energy systems, while accelerating investment in solutions that support lower-carbon growth. It positions us to play a larger role in enhancing global energy access, reliability and resilience. Market landscape, pg 59 READY, STEADY, GROW: SUSTAINED PERFORMANCE ON A LEANER FOUNDATION 2025 was marked by some of our most significant achievements to date. Delivering the Agogo FPSO four months early was a remarkable demonstration of our ability to execute highly complex projects with precision, predictability and quality. As our first operating asset in Angola, it expands our footprint in Africa – a region of utmost strategic importance – while strengthening our position as a trusted partner for national energy development. The asset also sets a new industry benchmark for low‑carbon offshore production, integrating an advanced suite of emissions‑reducing technologies and becoming the world’s first operating FPSO equipped with pilot carbon capture technology. Concurrently, our continued industry-leading safety, uptime and environmental performance, coupled with steady progress on our two assets under construction in Vietnam, further reinforces the Group’s track record and underpins the resilience of our strategy. Year in review, Yinson Production, pg 67 ENERGY ADDITION IS RESHAPING THE GLOBAL ENERGY LANDSCAPE For much of the past decade, global discourse centred on a linear energy transition. That narrative no longer reflects reality. Demand is rising faster than systems can transform, and societies are prioritising reliability and affordability alongside decarbonisation. The result is not a rollback of climate ambition, but the emergence of a more complex truth: the world needs more energy, not just cleaner energy. As Wood Mackenzie observes, this dynamic is reframing the conversation from a ‘linear transition’ toward energy addition – where fossil fuels remain foundational for decades, even as low-carbon fuels and technologies grow in share and importance. The emerging system will be multi-fuel, deeply interconnected and more complex. ENERGY ADDITION A world where both conventional and new energy must grow, evolve and co-exist. STRATEGIC ANCHOR Ensuring energy stays reliable, affordable and sustainable for communities and industries. What does energy addition mean for the world? Yinson is well positioned to lead in a multi-energy, low-carbon future. pg 68 pg 73 pg 74 pg 75 pg 81 New technologies, such as smart grids, carbon capture and electrification must operationalise.
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