109 SUSTAINABILITY REVIEW | EMPOWERING PEOPLE AND COMMUNITIES MS2 HUMAN & LABOUR RIGHTS Maintenance of key principles relating to human rights and labour standards as those defined by international conventions. Concerned stakeholders S2 S4 S9 S5 S10 S6 Risks • Involvement in lawsuits and long-term reputational harm for non-compliance to human rights standards, leading to financial losses and reputational damage. • Inability to attract new employees. • Inability to attract new sources of funding. Opportunities • Good human rights practices will help protect Yinson’s brand equity, with reputational risks safeguarded. • Fair employment considerations such as diversity and inclusivity may lead to reputational uplifts, attracting talent from a wide spectrum of backgrounds and cultures. • Inclusion in sustainability indexes and other sustainability-linked business opportunities and partnerships. WHY IS THIS TOPIC MATERIAL TO US? Yinson is committed to upholding and honouring human rights throughout all our operations, ensuring dignity, fairness, respect, and equality for all. We reject discrimination, harassment and bigotry, fostering a workplace built on trust and mutual respect. We believe that fair employment practices, including equitable remuneration and diversity promotion, cultivate an inclusive environment that drives innovation and strengthens our organisation. This commitment not only boosts employee experience, engagement, and retention but also enhances our reputation. It enables us to attract talent from diverse backgrounds, enriching our workforce with varied perspectives and experiences. Neglecting these principles may expose us to regulatory, legal, and reputational risks, potentially impacting our ability to secure new funding. Therefore, we remain steadfast in our dedication to fostering a workplace that values and respects every individual. MANAGEMENT APPROACH We remain guided by the Group’s Human & Labour Rights (“HLR”) Policy, as well as national and local laws and regulations and international human rights principles, including the Universal Declaration of Human Rights, UN Guiding Principles on Business & Human Rights and the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work. Further, we actively implement the Tripartite Declaration of Principles concerning multinational enterprises and social policy (MNE Declaration) throughout our operations, diligently working to prevent and rectify any breaches of HLR. At the core of our mission is the commitment to uphold human rights principles across our operations, extending to all employees, contractors, and third-party stakeholders within our value chain, including host communities and contracted partners. Fairness and integrity define our treatment of all employees, as we adhere strictly to relevant labour laws and provide competitive salaries and benefits. We oppose all forms of forced labour, including modern slavery, within our operations. In addition, we uphold employees' rights to freedom of association, expression and collective bargaining. As our global footprint expands, we embrace and celebrate the diverse backgrounds of our people, with Diversity, Equality and Inclusion (“DEI”) serving as the cornerstone of our People Strategy. We are dedicated to fostering an open and inclusive working environment where employees feel empowered to express themselves without fear of discrimination. In our commitment to equality, our People Strategy takes a proactive approach to equitable pay. Under the Total Rewards Strategy Project, we have conducted a comprehensive review of our reward approach across the organisation. This has led to the formulation of a cohesive Group-wide Total Rewards Philosophy, prioritising equity, transparency, and competitiveness in our reward structures. Employment We prioritise fairness and inclusivity in providing benefits across our global operations. Key benefits such as medical insurance, life insurance, pension and parental leave provisions are designed to uphold the well-being and security of our employees. Our benefits structure not only aligns with our Core Values and People Strategy but also complies with local regulations. Importantly, we ensure that parttime employees receive the same benefits as their full-time counterparts, fostering equality and opportunity throughout our workforce. Labour management relations The minimum notice period for significant operational changes, which could substantially affect our people and their representatives, varies by country and depends on local legislation and any existing collective bargaining agreements (“CBA”). We remain committed to upholding and adhering to all relevant labour and employment legislation in the countries where we operate.
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