52 WASCO BERHAD SECTION 3 VALUE CREATION STRATEGIC ROADMAP & PROGRESS STRENGTHENING CORE COMPETENCIES AND MARKET LEADERSHIP In 2025, years of disciplined investment across pipeline services, engineering & fabrication, and bioenergy translated into tangible competitive advantage. Our infrastructure footprint expanded meaningfully backed by over 500 in-house engineers and an expanded infrastructure footprint spanning Batam, Klang, and our newly established yard in Jafza strengthening our presence in one of the world’s most active energy markets. Linked to: F M I Capitals M6 M10 M13 M16 M15 M21 Material Matters • Major Low-Carbon Infrastructure Contract – Wasco secured a contract for the fabrication of pre-assembled modules supporting a large-scale low-carbon infrastructure project, valued between USD150.0 million and USD200.0 million and providing approximately 37 months of execution visibility. This award is a direct reflection of the confidence international EPC players are placing in Wasco’s fabrication capabilities and our growing relevance in transition-linked developments. • Jafza as a Strategic Middle East Presence – The establishment of our yard in Jafza marks a significant step in Wasco’s regional expansion strategy, positioning the Group in immediate proximity to one of the world’s most active and well-capitalised energy infrastructure markets. This facility complements our Southeast Asian operations and strengthens our ability to serve GCC clients with localised fabrication and EPC solutions. • EACOP: A New Pipeline Benchmark – Through Wasco ISOAF Tanzania, we delivered thermal insulation coating services for EACOP – the world’s longest electrically heated crude oil pipeline spanning 1,443 km achieving peak output rates of 110–117 km per month. This represents the most geographically and technically demanding pipeline coating scope in Wasco’s history, and a demonstration of our ability to execute at scale in challenging frontier environments. • Wasco Greenergy Listing on Bursa Malaysia – On 11 December 2025, Wasco Greenergy was listed on Bursa Malaysia’s Main Market at a RM500.0 million market capitalisation, raising RM75.0 million in fresh capital. The IPO was oversubscribed 12.11 times by retail investors – an endorsement from the capital market of Wasco Greenergy’s credentials as a dedicated renewable energy platform and its long-term growth potential. • Record Order Book of RM2.8 Billion – The Group closed 2025 with a record order book of RM2.8 billion, up from RM2.5 billion in 2024, underpinned by new wins across EPC fabrication, pipeline coating, and bioenergy. This provides the Group with strong multi-year earnings visibility and a solid foundation for continued growth into 2026 and beyond. • Delivering Across Our Active Project Portfolio – With major projects spanning 4 continents including West Africa, Europe, Middle East and Southeast Asia. Precise and disciplined execution across all active scopes remains the Group’s most immediate operational priority. Collectively, these projects carry significant value into 2026 and 2027 while deepening our modular fabrication expertise and positioning Wasco to pursue a growing pipeline of modular and prefabricated infrastructure opportunities as clients globally shift towards faster, more capital-efficient delivery models. • Deepening EPC Design Integration – We will continue to strengthen the collaboration across our Engineering & Fabrication entities, advancing towards a fully integrated design-to-fabrication offering that delivers greater value to clients across the full project lifecycle. This positions Wasco to engage clients earlier in the project cycle, broaden the scope of services we provide, and compete more effectively in increasingly complex tender environments. • Scaling Wasco Greenergy’s Platform – With IPO proceeds now available for deployment, Wasco Greenergy will focus on growing its installed turbine base, deepening after-sales service revenues in Indonesia, and advancing its biomass steam power plant ownership model, a strategy designed to generate recurring, infrastructurelike revenues and build long-term platform value within the Group. 2025 Progress Moving Forward
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