Yinson Annual Report 2020

6 Yinson Holdings Berhad SECTION 1 OVERVIEW 2019 proved to be a more stable year for global oil prices. Unlike the year before, the oil price ended in the vicinity of USD63 per barrel in contrast to the year’s opening price of USD58 per barrel. Fluctuations during the year were less volatile compared to the numerous crests and troughs experienced in 2018. No doubt 2019’s high of USD75 per barrel did not breach the previous financial year’s high of almost USD85, however, it was a much more stable environment for the oil and gas industry. Benefiting from the stable environment and a brighter industry outlook, the activities of the floating production storage and offloading (“FPSO”) industry gained momentum with more than 10 contracts awarded in 2019, a 50% increase compared to 2018. With that said, Yinson had our share of contracts bagged during the year, boosting our orderbook to approximately USD10.23 billion. Remarkable FYE 2020 The financial year under review was undoubtedly full of highlights as we made our maiden entry Lim Han Weng Founder and Group Executive Chairman Chairman’s Statement into Malaysian waters through the deployment and achievement of first gas of FPSO Helang. On top of that, we also saw our first FPSO redeployment project to Nigeria as well as our first bid and project win in Brazil, the world’s largest FPSO market. With so much progress thus far, it is imperative that we deploy our business strategies with caution and ensure stability in our current operations through upkeeping our excellent average fleet uptime track record. We are also humbled and honoured as our investor engagements have continued to be recognised. During the year, we were conferred with the ‘ASEAN - Most Honoured Company Award’ by Institutional Investor. With only 20 companies receiving this award out of 260 ranked companies, resulting from votes of nearly 2,500 investment professionals from 892 financial services firms, the win echoes Yinson’s belief in building rock solid and lasting relationships with its investors. Indeed, the award inspires us to further enhance our existing robust investor relations programme. On behalf of the Board, I am pleased to present to you Yinson’s Annual Report 2020. This year, in line with our commitment to sustainability and the environment, we have made this report available to you digitally on our dedicated microsite. We hope you enjoy the interactive experience. Scan here to visit our Annual Report 2020 microsite www.ar.yinson.com/2020

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