26 YINSON HOLDINGS BERHAD LEADERSHIP MESSAGES FY2026 RM million FY2025 RM million Change RM million % Operational Results by Segment Offshore Production 2,878 2,982 (104) -3.5% Renewables (42) 7 (49) -700.0% Green Technologies (194) (192) (2) 1.0% Other Operations (172) 38 (210) -552.6% Share of results of joint ventures and associates 328 21 307 1,461.9% @ Adjusted Enterprise Reporting EBITDA refers to the EBITDA determined under the classification of the Group’s FPSO and FSO charter contracts as operating leases instead of finance leases and application of proportionate consolidation based on the Group’s share in the respective assets, excluding progress milestones earned/paid and other non-recurring items recognised in the current financial year. # Excluding assets held for sale and liabilities related to assets held for sale as at 31 January 2026 of RM801 million and RM632 million respectively. Revenue and Profitability Revenue Group Revenue (RM million) FY2026 5,375 FY2025 7,605 FY2024 11,646 FY2023 6,324 FY2022 3,607 EPCIC (RM million) FY2026 1,868 FY2025 4,075 FY2024 8,794 FY2023 4,557 FY2022 2,206 FPSO Operations (RM million) FY2026 3,293 FY2025 3,262 FY2024 2,705 FY2023 FY2022 1,633 1,286 The Group’s lease contracts are classified as finance leases in accordance with International Financial Reporting Standards (“IFRS”) for accounting purposes. Revenue generated from the conversion of Very Large Crude Carriers (“VLCC”) into FPSOs, classified as Engineering, Procurement, Construction, Installation and Commissioning (“EPCIC”) revenue, is recognised either over time (based on the progress of construction) or at the point in time when the asset’s rights of use are transferred to a lease client. Under this accounting treatment, EPCIC revenues and profits are recognised during the construction phase of the asset. For typical FPSO contracts, cash flows only begin after construction and commissioning is completed, as that is the point when the Group becomes entitled to start receiving the lease payments. Some contracts include advance payments from clients, but these are limited to specific FPSO charter contracts. The lease classification and timing of EPCIC revenue recognition (where relevant) for the Group’s offshore assets which contributed to the Group’s results in FY2026 are set out in the following table.
RkJQdWJsaXNoZXIy NDgzMzc=