54 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 FINANCIAL REVIEW CLOSING REMARKS Yinson’s strong focus on energy transition is reflected in our financial performance for FYE 2023, with significant investments made into YR and YGT as well as the implementation of low-carbon emitting technologies in our core FPSO business. Despite facing challenges from market forces such as inflation and interest rates, our profitability has continued to improve year-on-year, which demonstrates the stability and resilience of our business and our robust risk management measures. By reinforcing our finance function, we can better address the risks identified and provide affordable and clean energy by building a sustainable and profitable operation focused on the energy transition. One of the big steps we have taken towards strengthening the finance function at the business unit level is the engagement of new Chief Financial Officers (“CFOs”). I would like to welcome Markus, Christian and Wan Yin who have joined as the CFOs of YP, YR and YGT respectively. I have asked my new colleagues to share a few words with us about their plans for the business units. We remain committed to our strategy and view our continued investments into the business as growth enablers that will add to profitability over the long term. In the last few years, YP has grown to become one of the leading independent owners and operators of FPSOs worldwide. The reorganisation of Yinson Group and increased autonomy of the different businesses provides YP more flexibility to work along the entire capital structure and across capital instruments, unlocking further growth and value creation for our shareholders. Whilst we are building YP’s finance organisation, our focus will be on increasing capital velocity, optimising the capital structure and cost of capital, as well as expanding our banking relationships and broadening our funding base. Mr Markus Wenker CFO, Yinson Production YR is an Independent Power Producer (“IPP”) focusing on onshore renewable energy production through development, construction and operations of utility scale wind and solar plants. As I have only just joined the team, let me express my genuine excitement about joining the Yinson team, contributing to YR’s growth and the Group’s transition pathway. I arrive at a pivotal time for YR with a large project pipeline that we look forward to maturing into production assets. As such, our near-term focus is to operationalise the YR core team and to deliver on our targets to become a key IPP in our markets. Mr Christian Rykke CFO, Yinson Renewables YGT is all about electrification, from marine to mobility to charging infrastructure. Our goal is to enable Yinson’s transition to net zero, as well as that of our shareholders, partners and community, in line with our SDGs. With the increased autonomy of decision-making to the business units, we are focused on establishing systems and processes that allow us to be agile and nimble. This year, we will focus on building YGT’s financial, tax, legal and treasury infrastructure to support the growth of our various businesses. Ms Chan Wan Yin CFO, Yinson GreenTech
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