DIVIDEND

Yinson has declared an interim single-tier dividend of 4.0 sen per ordinary share for the financial year ending 31 January 2022. The interim single-tier dividend entitlement date and payable date are 30 November 2021 and 17 December 2021 respectively.

CHAIRMAN COMMENTARY – MR. LIM HAN WENG, GROUP EXECUTIVE CHAIRMAN OF YINSON

We are pleased to announce another set of record results this quarter to add to the Group’s consistent performance over the last six months despite challenges brought about by the pandemic. We believe the Group is poised to continue its strong performance, with the rollout of vaccination regimes across countries aiding the reopening of economies and reflected in the steadying of Brent crude oil price above USD70 per barrel.

We have made some significant strides in terms of sustainability performance and disclosures over the last quarter. The Board has just approved Yinson’s Climate Goals Roadmap, which provides a forwardlooking trajectory of Yinson’s carbon profile up to 2050, highlighting specific action plans that are aligned to international standards and frameworks. We look forward to publishing this Roadmap next month. Our ESG Risk Rating from Sustainalytics marked an 8-point improvement to achieve an overall rating of 21.7, placing the Group in the top 9th percentile in the Energy Services Industry and top 11th percentile in the Oil & Gas Equipment subindustry globally. We also announced our support for the Task Force on ClimateRelated Financial Disclosures (TCFD), joining over 2,300 organisations worldwide in demonstrating a commitment to building a more resilient financial system and safeguarding against climate risk through better disclosures. Our efforts in the sustainability space have been recognised by several awards in the last quarter, including the Sustainable Business Awards, MSWG-ASEAN Corporate Governance Awards, The Asset Triple A Awards and Institutional Investor Awards.

Yinson, together with our project partner Sumitomo Corporation, successfully entered into a USD670 million syndicated loan facility for the FPSO Anna Nery project on 11 August 2021, with ING, Natixis and Standard Chartered Bank as underwriting banks. The agreement was also signed by Ambank, United Overseas Bank Ltd, Mizuho Bank Ltd and HSBC who are participating as senior lenders. The deal was sealed amid significant challenges in the FPSO financing space, compounded over the past year by the pandemic. I believe that the success of this deal is a testament of the investor community’s confidence in Yinson’s ability to continue delivering on our commitments and the robustness of our business strategy.

On 27 August, Yinson entered into a binding Memorandum of Understanding with Enauta Energia S.A to engage in exclusive negotiations for the potential supply and charter of a FPSO unit for the Atlanta field in the Santas Basin, Brazil. This is an important milestone for both Yinson and Enauta, signifying our joint commitment to progress towards a contract award. We share a common goal with Enauta to contribute towards the advancement of Brazil’s energy industry through solutions that are sustainable as possible.

The FPSO Anna Nery project remains on track with over 10.5 million manhours without any Lost Time Injuries (LTIs) thus far. Upon completion of repair and life extension works at Cosco Changxing, the vessel has recently moved to Cosco Qidong where topside module integration and testing have commenced. Despite the challenges brought about by the Covid-19 pandemic, the team has performed well. Now, with critical equipment delivered to only a few centralised yards in China, we have considerably de-risked the project from where it was.

On the renewables front, we have signed a collaborative agreement with Malaysia-based solar provider Plus Xnergy Services Sdn Bhd, expressing our intentions to jointly invest and develop solar photovoltaic projects via power purchase agreement schemes in Malaysia and beyond. We believe this collaboration will help to accelerate the energy transition in Malaysia where Yinson was founded and is currently headquartered, providing benefits for the national economy as a whole. Internationally, Yinson Renewables continues to actively expand its pipeline, with new projects earmarked in New Zealand, Italy and Latin America.

Moving on to Green Technology updates, we announced in mid-August that Yinson Green Technologies, through its participation in a consortium led by Seatech Solutions Pte Ltd called ‘Goal Zero’, has been awarded funding by the Maritime and Port Authority of Singapore and Singapore Maritime Institute for an exciting project within our electromobility segment. Yinson will play the role as the overall programme management and commercialisation of the project, which will see the development, deployment and commercialisation of a fully electric cargo vessel with interoperable swappable battery infrastructure in Singapore. This development strengthens the ecosystem of green solutions that Yinson aims to actively build towards a more climate-resilient future.

We held our 28^th Annual General Meeting (“AGM”) in full virtual proceedings on 15 July 2021. I am pleased to reiterate that all resolutions were approved by a landslide majority. We thank all our valued shareholders for their continued support and trust in Yinson.

Since the start of the pandemic, Yinson has been actively seeking ways to support affected local communities. Our efforts include laptop donations in Singapore and Kuala Lumpur to students in need, a PPE donation to the Miri General Hospital, a donation of nasal therapy equipment to the Sungai Buloh Hospital and an employee donation-matching campaign with The Lost Food Project. We will continue to be vigilant for CSR projects that meet the needs of the communities around us.

We thank our shareholders and stakeholders for their continued support.