39 SECTION 3 VALUE CREATION INTEGRATED ANNUAL REPORT 2025 VALUE CREATION MODEL INTELLECTUAL CAPITAL Wasco’s decades-long technical expertise across pipeline coating, engineering & fabrication, and bioenergy solutions forms the foundation of our intellectual capital. We continuously invest in deepening domain knowledge across both our Energy and Bioenergy divisions, while building new capabilities in AI and digitalisation. Investing in Research & Development (“R&D”) vs. immediate financial returns: Pursuing innovation in advanced coating technologies and energy-efficient solutions demands sustained investment and a long-term outlook. While not yielding returns in the immediate term, it is essential for maintaining technological leadership and future-proofing our offerings. Digital Implementation vs. People Adoption Challenges: While AI, data analytics, and automation significantly enhance operational efficiency and decisionmaking, successful technology implementation requires upskilling or reskilling of employees. Our Approach Trade-Offs I • Embed AI-powered tools across business units to enhance productivity, project efficiency, and data-driven decision-making. • Broaden technical capabilities into emerging energy services, strengthening competitive positioning beyond the traditional oil and gas sector. 2025 Focus • Official Listing of Wasco Greenergy as an independent subsidiary, enabling dedicated focus on bioenergy and green energy innovation. • Ministry-Endorsed AI Innovation from Qatar: Wasco’s CCAA platform earned the Best AI Solution: Corporate award at the Qatar Digital Business Awards 2025, presented by Qatar’s Ministry of Communications and Information Technology (“MCIT”) – converting 100,000+ multilingual safety observations into predictive safety insights. • Google Cloud Case Study Recognition: Wasco was recognised by Google Cloud in a published case study for its successful adoption of cloud and AI technologies to strengthen workplace safety management across 14 countries. • Initiated WAU: a governed, cross-functional AI ecosystem spanning Finance, HSE, and ESG, built on scalable Google Cloud infrastructure. • Continued market leadership in steam turbines for the agriculture sector, reinforcing the 70% market share position. Achievements
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