43 SECTION 3 VALUE CREATION INTEGRATED ANNUAL REPORT 2025 KEY MARKET TRENDS GROWTH OF INTEGRATED EPC & MODULAR FABRICATION DEMAND The global market for offshore and onshore EPC fabrication continued its structural expansion in 2025. Operators and developers increasingly favoured modular and pre-assembled delivery models, including process modules, E-Houses, PAUs and PARs to compress schedules and reduce field installation risk. FPSO and offshore platform sanctioning reached multi-year highs, generating demand for complex, multi-discipline fabrication packages. The global oil and gas pipeline fabrication and construction market was estimated at USD278.3 billion in 2024 and is projected to reach USD622.3 billion by 2030, representing a Compound Annual Growth Rate (“CAGR”) of 14.4%.² Beyond conventional oil and gas, the EPC fabrication market continued expanding into new energy adjacencies, including carbon capture infrastructure, green steel, and hydrogen-related industrial facilities, thereby broadening the addressable market for fabricators with the technical depth to serve these scopes. • The Batam yard strengthened its role as a strategic fabrication platform, enabling the facility to support larger and more complex project scopes while increasing loadout capacity across the Group’s global execution network. • Complex fabrication projects were delivered globally, including Middle East substation packages, hydrogen-based green steel project in Europe, and FPSO modules for West Africa. The forward order pipeline strengthened through new contract awards, across key engineering, regeneration, and operations & maintenance scopes. These developments position the Group to capture growing demand for integrated EPC and modular fabrication solutions throughout global energy infrastructure markets. Market Impact: Wasco’s Responses: ² Source: Global Industry Analysts Inc. / Research and Markets, Oil Gas Pipeline Fabrication and Construction – Global Strategic Business Report, September 2025. 2
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