29 INTEGRATED ANNUAL REPORT 2026 LEADERSHIP MESSAGES | FINANCIAL REVIEW The Group’s Adjusted Enterprise Reporting EBITDA increased by 47% – from RM1.9 billion in FY2025 to RM2.8 billion in FY2026 – and more than doubled since FY2024, reflecting the significant increase in cash flows to the Group as our assets transition from the CAPEX-intensive EPCIC phase to the operations phase. Notably, RM533 million of the increase was contributed by the Agogo FPSO, which clocked just over 5 months of operation in FY2026 after commencing its charter period on 12 August 2025. These amounts exclude one-off upfront payments received from clients during the construction phase and mobilisation fees received upon achievement of first oil. Our industry-leading safety standards and uptime performance resulted in strong commercial and technical uptimes across our fleet in FY2026 as disclosed in the Yinson Production Business Review. Together with more favourable charter rates and strong cash flows, this performance has allowed the Group to maintain the asset values of our offshore production assets. It is the Group’s strategy to invite strategic partners to participate in our projects to optimise our portfolio mix and maximise shareholder value. Thus, shareholders should refer to PATAMI to assess the profit attributable to them. PATAMI decreased to RM683 million in FY2026 due to factors disclosed in the previous sections, and the absence of a RM704 million income tax credit recognised in Q4 FY2025 arising from a change in tax basis for the Group’s Offshore Production operations in the Netherlands. This was partially offset by higher share of results of joint ventures and associates in the current year, mainly due to the contributions from YBC which became a joint venture of the Group on 31 January 2025, EPCIC activities for the FSO Lac Da Vang and FSO for Block B projects which commenced in Q3 FY2025 and Q4 FY2026 respectively, and the Group’s investment in Lianson Fleet Group Berhad acquired on 31 January 2025. The Group’s Basic EPS, computed based on PATAMI, reflected similar trends. * FY2022 adjusted to reflect the bonus issue of 1 bonus share for every 1 existing ordinary share which was completed on 13 April 2022, the bonus element of the rights issue of 2 rights shares for every 5 existing ordinary shares which was completed on 28 June 2022, and distributions declared to holders of perpetual securities in determining the profits attributable to ordinary equity shareholders. Basic Earnings Per Share (Sen) PATAMI (RM million) FY2026 14.8 FY2025 37.3 FY2024 28.5 16.7 FY2023 10.9* FY2022 FY2026 683 FY2025 1,249 FY2024 964 FY2023 589 FY2022 401 PATAMI Net cash flows from operating activities (RM million) FY2026 FY2025 FY2024 FY2023 FY2022 (412) (3,015) (2,833) (1,225) (987) The Group’s net cash outflow from operating activities decreased by 86% to RM412 million in FY2026. This significant improvement in the Group’s operating cash flows is in line with the increase in the Group’s Adjusted Enterprise Reporting EBITDA as explained earlier and reflects the Group’s business model that is centred on generating stable recurring income through asset-leasing contracts. Yinson’s order book, based on our proportionate share of equity ownership, stands at about RM85 billion for the next 20 to 25 years, ensuring a stable revenue outlook and reinforcing our confidence in comfortably meeting our operational needs. Cash Flows and Liquidity Cash flows from operating activities Yinson Production review, pg 67
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