97 ANNUAL REPORT 2022 STRATEGY & OUTLOOK BUSINESS REVIEW - OFFSHORE PRODUCTION YINSON PRODUCTION HIGHLIGHTS FYE 2022 ENVIRONMENTAL PERFORMANCE 23 kg CO2e/BOE carbon intensity ≤15 ppm oil in water discharged to sea 160.6 litres oil spills to sea 617 tonnes of waste generated by our offshore assets 0 non-compliances with environmental laws and/or regulations UPTIME Performance 100% commercial uptime 99.8% technical uptime 99.8% average 5-year technical uptime Health and Safety 0.00 LTIF across the division 0.21 TRIF across the division YINSON PRODUCTION GOALS AND STRATEGIES GOALS • Increase portfolio of profitable assets, creating long-term EBITDA of USD500 million. • Lead the way towards net zero with responsible solutions. • Execute projects on time and on budget, to support a strong brand reputation. • Deliver on our promises to clients and stakeholders on high quality operations. • Maintain a safe workplace at all times. • Build strong leadership team, skilled workforce and corporate culture. Strategies Short to medium-term (1 to 5 years) • Continue to build a sustainable pipeline of conversion and redeployment projects, including through mergers and acquisitions. • Proactively drive ESG initiatives to fulfil Group goal of reducing carbon intensity by 30% by 2030. • Invest in ALM via a proactive digitalisation strategy. • Enhance learning opportunities, invest in leadership, safety and corporate culture development. Long-term (6 to 10 years) • Continuous development of our asset portfolio, creating a strong order book with stable cash flows. • Optimise capital structure and expand liquidity pool to capture market opportunities. • Continuously evaluate the effectiveness of our supply chain and project execution philosophy. YP
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