69 INTEGRATED ANNUAL REPORT 2026 BUSINESS REVIEWS | YINSON PRODUCTION In Brazil, FPSO Anna Nery delivered stable production and reliability in its second year of operations, with a planned maintenance shutdown successfully executed. FPSO Maria Quitéria progressed through its start-up phase, commissioning key systems and stabilising operations, while providing strong support to the client during subsea-related challenges. Following its first oil at end-2024, FPSO Atlanta focused on commissioning and ramp-up activities, with production increasing as additional wells were connected. The steam generating plant supplying the steam generator turbine was completed and brought into operation during the year, with final commissioning scheduled within 2026. Meanwhile, FPSO Helang in Malaysia supported two clientplanned field shutdowns safely and within the allocated windows. Across Africa, asset performance remained strong. In Ghana, the team’s strong commitment to health, safety and environmental performance was recognised by the client at Eni’s HSEQ Contractor Forum held in Accra in November 2025. In Nigeria, FPSO Abigail-Joseph completed 25 offloading operations during the year. Safety performance Our safety performance remained stronger than Association of Oil & Gas Producers (“IOGP”) benchmarks, reflecting our continued focus on maintaining strong safety performance across our operations. Several assets marked significant safety milestones during the year. FPSO Helang achieved six years without Lost Time Injury (“LTI”) in January 2026, accumulating over 2.8 million safe man-hours. Since start-up, the Agogo FPSO has maintained stable operations, with zero LTI or Total Recordable Injury (TRI) to date. Meanwhile, FPSO John Agyekum Kufuor in Ghana and FPSO Abigail‑Joseph in Nigeria achieved six and five years of LTI‑free operations in August and October 2025, respectively. Occupational Health & Safety, pg 92 Environmental performance Fleet carbon intensity declined further in FY2026, primarily driven by the implementation of gas reinjection on one asset, which materially reduced flaring, as well as the resolution of a compressor breakdown issue. In addition, performance improvements across existing assets and the introduction of new assets equipped with more energy-efficient designs and advanced technology features contributed to improved fleet carbon intensity. Water discharge performance across Yinson Production’s operated assets remained well within both international regulatory requirements and our more stringent internal targets. While performance across the fleet remains strong, we continue to focus on optimisation and operational discipline to further improve treatment efficiency and sustain consistent compliance. LTIF IOGP benchmark FY2026 0.00 0.24 FY2025 0.13 0.24 FY2024 0.05 0.28 TRIF IOGP benchmark FY2026 0.23 0.81 FY2025 0.47 0.94 FY2024 0.31 0.99 FY2026 26.7 FY2025 33.2 Fleet carbon intensity (kg CO2e/BOE) FY2026 5.3 FY2025 3.6 Oil in slop water content* (ppm) FY2026 5.6 FY2025 15.7 * Yinson Production-operated FPSOs only. Water and effluents, pg 88 Oil in produced water content* (ppm) FINANCIAL PERFORMANCE Capital, financing and financial resilience FY2026 marked a step-change for Yinson Production, as we transitioned from a construction-led portfolio to a highly cash-generative business, with 97% of contracted revenues now operational. Financial performance under Enterprise Reporting strengthened significantly, supported by a larger base of operating FPSOs, consistently high uptime and long-term contracted revenues that remain largely insulated from commodity price volatility.
RkJQdWJsaXNoZXIy NDgzMzc=