Yinson Annual Report 2021

141 ANNUAL REPORT 2021 SOCIAL & RELATIONSHIPS CAPITAL PARTNERS Forming alliances with reliable business partners has been a key success for Yinson, enabling us to achieve shared goals to grow our businesses, increase our access to capital, and to strengthen our bidding capabilities. This has allowed the Group to bid for larger contracts and venture into new regions. PARTNER NATURE OF PARTNERSHIP ENGAGEMENTS IN FYE 2021 Sumitomo Sumitomo owns a 25% stake in the FPSO Anna Nery project. Ongoing daily communication in relation to FPSO Anna Nery and FPSO JAK. Ad hoc discussions on potential new partnerships under the memorandum of understanding. Japanese consortium consisting of Sumitomo, "K" Line, JGC Holdings Corporation and Development Bank of Japan Inc The consortium owns a 26% stake in FPSO JAK. Semi-annual engagements to update and discuss developments regarding FPSO JAK and potential new partnership opportunities. PTSC PTSC owns 51% of FSO PTSC Bien Dong 01 and FPSO PTSC Lam Son, and manages the operations of the assets. Regular engagements to ensure that our existing assets, FPSO Lam Son and FSO Bien Dong 01 are operating as expected and for potential new opportunities going forward. "K" Line "K" Line entered into an agreement with Yinson to own around a 10% stake in FPSO Anna Nery upon final acceptance of the FPSO as well as the FPSO achieving stable operations, which is expected to be met in 2023. Signing of the transaction documents in relation to "K" Line's equity ownership in FPSO Anna Nery, alongside ongoing communication on key developments in the project. Partnered with the co-founder of RSE which is now a jointly held subsidiary company. Ongoing and future projects are with the same partner with new jointly held entities (subsidiaries) set up for each project. RSE is the owner of the Bhadla 1&2 solar plants. RSEK is constructing the Nokh solar plants, which it will also own and operate. Our partner owns 5% and 20% of RSE and RSEK respectively. Ongoing daily engagement for Bhadla operations and construction of the Nokh solar plants. In addition, there is an in-depth integration exercise ongoing which leverages the strengths of both companies to achieve greater efficiencies. Includes considerations for infrastructure, business, corporate support and corporate systems. Oil and Marine Agencies Ghana Limited (“OMA”) OMA is our local partner for the operations & maintenance (“O&M”) of FPSO JAK. OMA owns a 51% stake in our joint O&M entity. Daily engagements to ensure high operational uptime of FPSO JAK. We also work closely with OMA for new business opportunities in Ghana within the energy sector. Geoplex Drillteq Limited (“Geoplex”) Geoplex is our local partner for the O&M of FPSO Adoon and FPSO Abigail-Joseph. Geoplex owns a 60% stake in our joint O&M entity. Regular engagements to ensure that FPSO Adoon and FPSO Abigail-Joseph are operating as expected and for potential new opportunities going forward. VENDORS/ SUPPLIERS Yinson focuses on building deep, long-term working relationships with our key suppliers, and welcomes engagements with new vendors. We believe this enables us to make stronger vendor choices, thus enhancing our ability to deliver on our commitments to our stakeholders. All vendor engagements were performed virtually in FYE 2021 due to Covid-19.