Yinson Annual Report 2021

12 Yinson is pleased to present our Annual Report for the financial year ended 31 January 2021. In this Report, we aim to provide a concise and transparent overview of our ability to create sustainable value for our stakeholders. This marks the third year since Yinson (“the Company” or “the Group”) first embarked on our Integrated Reporting journey. We hope that the improvement in our disclosures year by year has helped you to gain a greater understanding of our business and outlook, allowing you to make informed decisions about the Group. This year, we focused on improving the connectivity of information in the various sections of our Annual Report ("Report"), including our business model, strategy, capitals, sustainability indicators and the external environment. We also enhanced the quality of our disclosures to be more balanced, comparable and meaningful through further alignment with international standards, with a particular focus on Environmental, Social and Governance (“ESG”) factors. The scope of this Report includes Yinson and subsidiaries which we have control over. The Report covers the financial reporting period from 1 February 2020 to 31 January 2021 (“FYE 2021”). In compiling this Report, we have considered the following frameworks and guidelines: t *OUFSOBUJPOBM *OUFHSBUFE 3FQPSUJOH 'SBNFXPSL (“<IR> Framework”). t #VSTB .BMBZTJB 4FDVSJUJFT #FSIBE i#VSTB 4FDVSJUJFTw Main Market Listing Requirements (“MMLR”) Guidelines, Sustainability Reporting Guidelines, Sustainability Reporting Toolkit (2 nd edition, with inclusion of Task Force on Climate-related Financial Disclosures ("TCFD") guidelines and Corporate Governance Guide (3 rd edition). t 5IF .BMBZTJBO $PEF PO $PSQPSBUF (PWFSOBODF (“MCCG”). t *OUFSOBUJPOBM 1FUSPMFVN *OEVTUSZ &OWJSPONFOUBM Conservation Association’s (“IPIECA”) Oil and Gas Industry Guidance on Voluntary Sustainability Reporting. t *OEVTUSZ CFTU QSBDUJDFT XIFSF SFMFWBOU This Report has been prepared in accordance with the GRI Standards: Core option. Materiality The principle of materiality has been applied in assessing and deciding on the disclosures and content of this Report. An item is considered material if it could substantively influence the decisions of the Group and its stakeholders, affecting our ability to create value over the short, medium and long term. This Report considers both qualitative and quantitative matters that are material to our business and strategic objectives, which may influence our stakeholders' decision- making. Assurance PricewaterhouseCoopers PLT (“PwC”), the external auditors, provided an independent opinion on whether the financial statements of the Group and the Company in this Report gave a true and fair view of the financial position, financial performance and cash flows for FYE 2021. As required by Paragraph 15.23 of the Bursa Securities MMLR, PwC also reviewed the Statement on Risk Management and Internal Control included in this Report. Their limited assurance review was performed in accordance with the Malaysian Institute of Accountants’ Audit and Assurance Practice Guide (“AAPG”) 3. AAPG 3 does not require the external auditors to form an opinion on the adequacy and effectiveness of the risk management and internal control systems of the Group. Board approval Yinson's Board of Directors (“Board”) acknowledges its responsibility to ensure the integrity of this Report, which in its opinion addresses all the issues that are material to the Group’s ability to create value and fairly presents the integrated performance of Yinson. The Board has applied its collective mind to the preparation and presentation of this Report and believes that it has been prepared in accordance with the <IR> Framework and addresses all material issues. The Board confirms that it has approved the release of this Report. Forward-looking statements This Report contains certain forward-looking statements with respect to Yinson’s financial position, results, operations and businesses, which we believe to be realistic at the time this Report is issued. These statements may involve risk and uncertainty as they relate to events and depend on circumstances that occur in the future. There are various factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. ABOUT THIS REPORT Let us know what you think Please email corpcomms@yinson.com to provide feedback on this Report and the type of information you would like to see in future Reports. YINSON HOLDINGS BERHAD