29 SECTION 2 KEY MESSAGES INTEGRATED ANNUAL REPORT 2025 BUSINESS REVIEW KEY INFRASTRUCTURE & CAPACITY • Kuantan, Malaysia i. Total plant area of 830,000 m2 with quayside access. ii. Comprehensive coating services supported by in-house R&D and testing facilities. iii. Specialised in CWC, FBE, 3LPE and 3LPP coatings. iv. Advanced capabilities include CWC thickness of up to 180mm with density ranging from 2,240 – 3,400 kg/m3. • Umm Al Houl Free Zone, Qatar i. Total plant area of 266,000 m2. ii. 230-metre dedicated berth at Marsa Port. iii. Specialised in CWC, FBE, 3LPE and 3LPP coatings. iv. 24/7 operations handling pipes ranging from 6” – 56”. v. ISO 17025-accredited Wasco Laboratory providing certified in-house testing. • Hartlepool, United Kingdom i. Total plant area of 75,000 m2 with quayside access. ii. Specialised in IFC, FBE, 3LPP, 3LPE, and CWC coatings. iii. 24/6 operations handling pipes ranging from 4” to 48”. iv. Advanced capabilities include CWC thickness of up to 120mm with density ranging from 2,240 kgs/m3 to 3,040 kgs/m3. • Kota Kinabalu, Malaysia i. Total plant area of ~87,000 m2 with integrated mill and testing facilities. ii. Specialised and the only API 5L accredited Helical Submerged Arc Welded (“HSAW”) pipe mill in Malaysia with diameters from 508 mm to 2,100 mm and thickness ranging from 6 mm to 26 mm. iii. Equipped with dedicated finger pier jetty of 6 acre, supplying up to 100m length per pile. iv. Annual production capacity of approximately 140,000 MT. CORE CAPABILITIES • Pipeline Services i. Strategic quayside facilities in Malaysia, Qatar and United Kingdom, enabling priority berthing and seamless logistics. ii. Full suite of internal and external coating solutions. iii. ISO 17025-certified laboratory and R&D centre. iv. In-house anode manufacturing and advanced inspection capabilities. • Coating Applications i. Anti-corrosion coatings – FBE/DFBE, AE, 3LPE/3LPP. ii. Concrete weight coating – up to 400 MT/hour. iii. Flow assurance and thermal insulation – PPFOAM, GSPP, GSPU and TSA. iv. Internal flow efficiency coatings. v. Custom and specialty coatings – bends, spools and manifolds. • Performance Range i. Proven in extreme climates ranging from +50°C desert environments to -45°C Arctic winters. ii. CWC thickness of up to 180 mm with density ranging from 2,240 – 3,400 kg/m3. FY2025 PERFORMANCE HIGHLIGHTS • 28.1 million LTI-free man-hours recorded, up 18% from 2024, reflecting continued focus on health and safety. MARKET ENVIRONMENT & OPPORTUNITIES • Demand is driven by: – Continued oil and gas infrastructure development. – Emerging carbon capture and hydrogen pipeline networks globally. Key Priorities Initiatives Achievements • Capitalise on emerging carbon capture and hydrogen pipeline opportunities. • Expand regional coating capabilities. • Strategic execution on Qatar and Malaysia’s Carbon Capture and Storage (“CCS”) projects. • 1,000 km of pipes successfully coated in 2025. • Successful delivery across flagship global energy projects. Challenges & Risks • Cyclical oil and gas demand and commodity price volatility. • International project exposure to political instability, sanctions and regulatory changes. OUTLOOK • Opportunities from the growing demand for CCS, LNG and hydrogen transport infrastructure, with a strong pipeline of carbon capture projects across Europe and Asia. • Completion of key projects demonstrates Wasco’s capability to execute in demanding environments, supported by long-term energy transition demand.
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