31 INTEGRATED ANNUAL REPORT 2026 LEADERSHIP MESSAGES | FINANCIAL REVIEW As at 31 January 2026, the Group has available room for additional funding totalling RM6.8 billion through the following: • Undrawn borrowing facilities of RM851 million; • Perpetual securities programmes of RM1.1 billion; • Sukuk Wakalah under the Senior Islamic Medium Term Notes Programme of up to RM825 million; and • Future issuances of redeemable convertible preference shares (“RCPS”) and warrants of USD 500 million (RM2.0 billion) with the option to upsize by an additional USD 500 million (RM2.0 billion) under the terms of a conditional subscription agreement between Yinson Production Offshore Holdings Ltd, an indirectly wholly-owned subsidiary of the Company, and a consortium of international investors that was executed on 14 January 2025 (Hereafter, referred to as “YPOHL RCPS and Warrants Issue”). The Group is confident it has sufficient liquidity to meet our liabilities for the foreseeable future given our strong order book and the continued availability of borrowing facilities, RCPS and perpetual securities to support current operation levels, finance new FPSO projects, and expand our Renewables and Green Technologies businesses. Liquidity ratios Current ratio (times) FY2026 FY2025 FY2024 FY2023 FY2022 2.11 1.58 1.05 0.98 2.21 The Group’s current ratio increased from 1.58 times to 2.11 times in the current financial year, mainly due to higher cash balances arising from improved cash flows from our operational assets and completion of the first and second tranche closing of the YPOHL RCPS and Warrants Issue on 16 June 2025 and 16 December 2025 respectively at the total subscription consideration of USD 500 million (RM2.1 billion). Lower payables and project cost accruals to fund EPCIC business activities in FY2026, as the Group transitioned from a CAPEX-intensive EPCIC phase to an operational phase, also contributed to the improvement of the Group’s current ratio. Financing Activities Leverage indicators Gearing (times) FY2026 1.95 0.96 FY2026 1.37 0.38 2.04 1.26 FY2025 1.69 0.91 FY2025 2.05 1.52 FY2024 1.66 1.13 FY2024 1.48 0.88 FY2023 1.23 0.62 FY2023 1.85 1.00 FY2022 1.24 0.39 FY2022 Net Gearing (times) Based on total loans and borrowings Based on total loans and borrowings less non-recourse project financing loans
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