81 INTEGRATED ANNUAL REPORT 2026 In 2025, Yinson GreenTech translated strategic clarity into decisive action. Anchored by three core focus areas - charging infrastructure (chargEV), end‑to‑end EV leasing (drivEV) and marine electrification (marinEV) – the year marked a period of focused execution, portfolio rationalisation and organisational strengthening. This laid the groundwork for scalable growth and long‑term profitability. During the year, we streamlined our leadership and organisational structure to be leaner and more agile, ensuring faster decision-making, clearer accountability, and stronger alignment across the business as we prepare for the next phase of growth. We also invested in strengthening the digital infrastructure that underpins all our solutions, recognising that the strength of our digital platform multiplies the value that we deliver to customers. By enabling tangible bottom line benefits and real-time insights into efficiency indicators and carbon emissions, our digital capabilities are becoming a powerful differentiator for the future. chargEV: Building a leaner, higher performing network 2025 was a transformative year for chargEV, driven by disciplined strategy execution, operational optimisation and renewed focus on network quality and financial sustainability. We continued to optimise and scale our charging network, prioritising strategic locations with stable power supply – particularly in shopping malls and along highways – while discontinuing underperforming sites and replacing ageing chargers. We also upgraded selected chargers to higher capacity units at locations with stronger utilisation and demand. This disciplined approach resulted in a leaner, higher‑quality network that provides a strong foundation on which we were able to scale. We increased our total installed power by 27% YoY to 15.8 MW, contributing to a 95% growth in power sold, higher charger uptime of 97% (up from 89% the year before), notable improvements in utilisation rates, and strong EBITDA gains. A highlight of 2025 was the groundbreaking of Malaysia’s first Integrated EV Charging Hub at the Seremban R&R (Southbound). Developed by Terra chargEV, our joint venture with PLUS Berhad, the hub marks the beginning of a series of retail and EV integrated, high‑speed charging destinations planned along Malaysia’s main highway network. We also strengthened our collaboration with AEON, deploying new charging sites at high‑traffic malls. These projects anchor chargEV’s presence in both everyday and flagship locations. drivEV: Scaling our fleet of end-to-end solutions During 2025, drivEV achieved exceptional commercial momentum and our strongest financial performance yet. We doubled our fleet size and expanded our customer portfolio across the logistics, e-hailing and corporate mobility segments. The fleet now supports thousands of daily journeys while maintaining high operational reliability and strong vehicle availability of 90% to support the growing adoption of electric mobility among enterprise customers. These achievements contributed to record EBITDA, revenue and profitability, reaffirming drivEV’s compelling value proposition as a provider of end-to-end EV fleet solutions – combining flexible leasing, smart assets, reliable charging infrastructure, and data-driven digital fleet management to help businesses to electrify at scale with confidence. The year also saw major contract wins and new strategic partnerships that expanded our presence across key sectors. We were appointed as Grab Malaysia’s EV leasing partner, marking our entry into the e-hailing segment and supporting Grab’s green mobility ambitions. This was followed by the deployment of Grab’s first EV fleet servicing the Kuala Lumpur International Airport. We forged a strategic partnership with Permodalan Darul Ta’zim (PDT), where drivEV will support the rollout of EV leasing solutions and charging infrastructure, aligned with the Johor Green Development Policy 2030. In addition, we strengthened our long-standing partnership with Pos Malaysia, completing the delivery of 136 new electric vans following an earlier rollout of 143 units in 2024. This expands Malaysia’s largest electric logistics fleet and is supported by drivEV’s depot charging, maintenance and digital fleet tools. marinEV: Gaining product readiness and commercial traction For marinEV, 2025 marked a year of meaningful progress in both product readiness and commercial traction. A key milestone was the launch of Hydromover 2.0, our nextgeneration fully electric cargo vessel. The upgraded design delivers extended range, faster charging, increased cargo capacity and improved operational efficiency. It is also fully integrated with our Marine Digital Platform (“MDP”), enabling real-time analytics, route optimisation and automated vessel management. BUSINESS REVIEWS | YINSON GREENTECH
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