78 YINSON HOLDINGS BERHAD Yinson Renewables is pursuing a disciplined, scalable growth strategy centred on building resilient, profitable renewable energy generation systems. Our approach combines strong commercial fundamentals, extensive local engagement and operational excellence to deliver sustainable value across our markets. Capital, financing & financial resilience Our commercial model is built on long-term PPAs that provide predictable, contracted revenue streams and underpin project bankability. Where market conditions are appropriate, we incorporate merchant spot exposure to enhance returns, balancing long-term stability with upside potential. This blended model allows us to secure project financing while retaining a level of upside associated with fluctuating energy prices. We apply strong project finance principles across our portfolio, optimising for non-recourse structures and diversification across debt and equity sources. A recent milestone in our financing journey was the onboarding of IDB Invest as a project funding partner, demonstrated through the green financing of the Matarani Solar Project, which strengthened lender confidence and reinforced the bankability of our Peruvian assets. In parallel, our Green Financing Framework – recognised with an excellent SQS1 sustainability quality score from Moody’s – further supports our access to high-quality sustainable capital and underpins our disciplined financing approach. Capital allocation remains guided by a focus on bankable, de-risked growth, supported by a lean operating model that ensures capital efficiency across development, construction and operations. Scan to view Yinson Renewables' Green Financing Framework and Second Party Opinion. Focus on greenfield development, complemented by selective M&A Our long-term value creation is anchored in our greenfield development engine. We remain focused on maturing our near-term pipeline while tightening geographic prioritisation – adjusting our levers in less strategic markets as local conditions evolve, and deepening our presence in those with strong regulatory support and bankable PPAs. To complement our organic pipeline, we continue to evaluate selective M&A opportunities involving ready-to-build or operating assets. These acquisitions provide predictable, immediate scale and earnings visibility, supporting balanced growth across our key regions. Continued focus on onshore wind and solar, complemented by hybrid technologies Our technology strategy remains centred on onshore wind and utility‑scale solar PV, complemented by the integration of batteries where they enhance grid stability, reduce curtailment or improve project economics. These technologies benefit from mature, increasingly cost-effective global supply chains, and continue to represent the lowest-cost sources of new power generation worldwide, supporting strong long-term demand and providing a clear pathway for sustained, scalable growth. Global experience anchored on local partnerships Across all markets, Yinson Renewables works closely with local partners and communities, integrating social and environmental considerations into project planning and execution. This includes early engagement to ensure community needs are understood, responsible land use, environmental safeguards and initiatives that support local economic development. We design our projects to meet both national energy needs and local expectations, reinforcing our licence to operate and contributing positively to surrounding communities. Operational excellence to deliver long-term impact Our teams prioritise safety, reliability and high-quality asset performance, ensuring each project delivers on its long-term potential. Partnerships with local stakeholders – energy companies, engineering firms, government agencies and off takers – not only help streamline permitting and development, but also drive shared economic value by creating local jobs, supporting local businesses and fostering an environment where investment and long‑term value creation can thrive. By working collaboratively, we strengthen mutual trust and build projects that benefit both the local community and Yinson Renewables. This reinforces alignment, reduces capital exposure and enhances long-term value creation and resilience. CLOSING REMARKS Yinson Renewables enters the next phase of growth with a more mature operating base, strengthened development pipeline and clear strategic focus on delivering high-quality projects in markets where we can create long-term value. As we look ahead, our success will increasingly be driven by the partnerships we build and the shared value we create – working collaboratively with stakeholders to support local development, foster trust and create environments where sustainable investment can thrive. Ultimately, our ambition is to help shape energy systems that are secure, environmentally sustainable and affordable for the communities we serve. By remaining disciplined, purpose-driven and partnership-led, Yinson Renewables will continue delivering resilient, clean energy solutions that support a just and enduring energy transition. Strengthening sustainable financing credibility, pg 102 BUSINESS REVIEWS
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