19 INTEGRATED ANNUAL REPORT 2026 LEADERSHIP MESSAGES | GROUP CEO REVIEW In 2025, Yinson Renewables’ most significant achievement was the 2.5x increase in forecasted revenue, driven by two major power purchase agreements (“PPA”) signed for the Majes Phase 1 Solar Project and the Mt Cass Wind Farm. Securing agreements of this scale with reputable off takers reflects the strong confidence our partners have in our ability to deliver projects on time and operate them with high reliability. It also underscores the important role our assets play in supporting national energy security. These long-term contracts provide enhanced revenue visibility and a solid financial platform, enabling us to progress more projects into ready-to-build and construction phases, while scaling our portfolio with discipline. With this strengthened footing, Yinson Renewables enters the next growth phase with increased financial resilience, stronger market credibility, and is well positioned to accelerate growth and compete more effectively as a global independent power producer (IPP). Year in review, Yinson Renewables, pg 75 • Acquired the 94.6 MW Mt Cass Wind Farm in New Zealand, marking us as the first global IPP to own and construct a wind farm in the country. • Secured PPAs for Mt Cass Wind Farm and Majes Phase 1 Solar Project, boosting long‑term revenue visibility and lifting forecasted revenues from ~USD 1 billion to ~USD 2.5 billion through 2063. • Received approval from New Zealand’s Overseas Investment Office to advance our 1 GW pipeline in the country. • Received resource consent for Pahiatua Wind Farm in New Zealand. • Secured agreement with Genesis Energy, giving them exclusivity to participate in our future New Zealand wind projects. • Assessing multiple new opportunities in Peru to expand our presence and reinforce our long‑term commitment to the market. Leap in renewables PPA revenue, significant progress in New Zealand and Peru Yinson GreenTech made meaningful strides in 2025, underscoring the success of our efforts to restructure the business into a leaner, more efficient and commercially disciplined organisation. Building on the core focus areas identified last year, we have sharpened our operational focus and enhanced execution capabilities. Key milestones include drivEV’s entry into the e-hailing market with Grab Malaysia and an additional batch of e-vans to our long-standing partner Pos Malaysia, in support of their corporate sustainability goals. chargEV and PLUS Malaysia broke ground on the nation’s first integrated EV charging hub, while marinEV launched the next-generation Hydromover 2.0 alongside charter agreements with Yacht International. Year in review, Yinson GreenTech, pg 79 Improved green technologies performance on a stronger foundation • Doubled EV leased fleet to ~500 • Achieved 90% fleet availability • Expanded into e-hailing segment • 95% growth in charging energy delivered • 27% increase in total power installed • 97% charger uptime • Launched Hydromover 2.0 • First contract awarded • Completed concept engineering for full product portfolio CONTINUING TO UNLOCK VALUE During the year, we continued to realise the value unlocked through the USD 1 billion investment completed with ADIA, BCI and RRJ Group. The funds were deployed in line with the proposed utilisation plan, strengthening liquidity and supporting the disciplined execution of our growth strategy. Capital directed to Yinson Production reinforced our position as a leading global FPSO operator, demonstrated through the exceptional delivery of the Agogo FPSO and strengthened mid-sized, lease & operate FPSO offering. Meanwhile, allocations to Yinson Renewables and Yinson GreenTech accelerated their development as the Group’s next engines of growth, with notable milestones highlighted earlier. The investment has enabled us to scale up our businesses with no cash calls from shareholders, strengthen our capital structure and enhance cash flow visibility. It also provides long-term alignment with our strategic investors. USD 1 billion strategic investment: delivering growth and value, pg 30 Project concept visual
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