71 INTEGRATED ANNUAL REPORT 2026 BUSINESS REVIEWS | YINSON PRODUCTION Local onshore employees Local offshore employees Angola 78% 70% Nigeria 100% 79% Ghana 94% 74% Local content performance Building strong local supply chains and developing national talent remain integral to Yinson Production’s operating model. Beyond regulatory compliance, our approach to local content is anchored in creating long-term value for host countries – strengthening in-country capabilities, supporting local businesses and fostering sustainable employment. This, in turn, enhances operational resilience, builds trusted partnerships and supports the long-term success of our projects. Local employment remains a core pillar of our local content strategy across all operating regions, with national employees making up the large majority of our workforce. Even in Brazil, where contractual localisation requirements do not apply, approximately 75% of core crew positions are filled by Brazilian professionals. Our local supply chain strategy is supported by a structured and transparent supplier engagement framework, reinforcing our commitment to local procurement and enterprise development. Strategic goals • Lead the lease & operate space for mid-sized FPSOs. • Lead in technological and digital innovation to deliver industry-leading performance and ESG standards. • Achieve a resilient financial ecosystem to support sustained value creation. • Establish synergistic businesses within the offshore energy ecosystem. Strategies • Secure quality projects that align with our strategic goals and deliver them safely, on time and on budget. • Maintain industry-leading uptime and safety performance. • Invest in digitalisation and technologies to increase productivity, enhance asset efficiency, and promote environmental sustainability. • Ensure access to financing and broaden the funding base, optimise capital structure and increase capital velocity to support growth and capture market opportunities. • Explore and develop businesses that leverage our core expertise and meet the needs of the offshore energy industry. • Build a world-class leadership team and workforce. Purpose To design, construct, and operate industry-leading production assets for the offshore oil & gas industry towards improving global access to stable and affordable energy. STRATEGIC FOCUS AREAS Regional outlook and focus Yinson Production’s business development activities in FY2026 were shaped by a gradually improving offshore market. While final investment decisions remained measured, the overall project pipeline continued to strengthen, supported by sustained demand for deepwater developments and rising activity across several core offshore regions. After several years of limited FPSO awards, 2025 showed clearer signs of a recovering market, with growth expected to be driven primarily by Brazil and wider Latin America, Sub-Saharan Africa and Southeast Asia – regions where Yinson Production is already active, well established and strategically positioned to capture future opportunities. Market landscape, Yinson Production, pg 59 Local employment in our Africa offices Strengthening our local supply chains, page 106
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