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YINSON COMPLETES USD800M REFINANCING DEAL FOR FPSO John Agyekum Kufuor

SINGAPORE – APRIL 15, 2020

YINSON HOLDINGS BERHAD (“Yinson”) completed a USD800 million refinancing exercise for FPSO John Agyekum Kufuor (JAK), with the loan successfully drawn down on 14 April.

The project kicked off five months ago in November 2019 when 13 local and international banks, 7 of which are new to Yinson, signed the refinancing agreement. The tenure of the loan is 12 years.

The following banks participated in the refinancing exercise:

CIMB BANK BERHAD CLIFFORD CAPITAL PTE. LTD. CRÉDIT INDUSTRIEL ET COMMERCIAL DBS BANK LTD. KOREA DEVELOPMENT BANK MAYBANK INVESTMENT BANK BERHAD MUFG BANK, LTD. NATIXIS, BRANCH OVERSEA-CHINESE BANKING CORPORATION LIMITED SOCIETE GENERALE, BRANCH SUMITOMO BANKING CORPORATION STANDARD CHARTERED BANK (SINGAPORE) LIMITED UNITED OVERSEAS BANK LIMITED

FPSO JAK is a joint venture project, with a 26% stake being held by a Japanese consortium comprising of , Kawasaki Kisen Kaisha Ltd (K Line), JGC Holdings Corporation and Development Bank of .

FPSO JAK is currently operating in OCTP Block, offshore Ghana and is chartered to Eni Ghana Exploration & Production Ltd., a wholly owned subsidiary of Eni S.p.A., an Italian multinational energy company that has a long-term credit rating of A- by Fitch.

Yinson Group Chief Strategy Officer Daniel Bong said that the deal was able to be completed only because of the close relationships that had been forged between all participating banks, joint venture partners and the client, particularly given the present turbulent environment.

“It was definitely not the most straightforward process, as movement control is being imposed in many countries due to the Covid-19 situation. However, we collectively managed to overcome this hurdle despite all odds, achieving the objectives of all parties. I would like to personally thank our client, our joint venture partners and the banking group for their unwavering support shown for this transaction, and I look forward to continued collaboration in future projects,” he said.

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About Yinson Holdings Berhad

“PASSIONATELY DELIVERING POWERFUL SOLUTIONS”

Yinson Holdings Berhad (“Yinson” or the “Group”) is one of the world’s leading energy solution providers, listed on the Main Market of Bursa Malaysia Securities Berhad.

Yinson was established in 1983 as a transport agency in Johor Bahru which eventually grew to become one of Malaysia’s biggest transport companies.

In 2011, the Group began its venture into the oil and gas industry by winning its first Floating, Storage and Offloading (“FSO”) contract through its joint venture company with PetroVietnam Technical Services Corporation.

In 2014, Yinson strengthened its core business through the acquisition of Fred. Olsen Production ASA. With the acquisition, Yinson inherited a strong and experienced team as well as a further 3 FPSOs and 1 mobile offshore production unit management contract.

In 2016, the Group streamlined the business transformed into a full-fledged FPSO operator through the divestment of its non-oil & gas business segments. Growing from strength to strength, Yinson is currently the 6th largest independent FPSO leasing company in the global FPSO market, with a wide geographical presence in 10 countries.

Gearing for growth, Yinson recently diversified into renewables.

The Group’s current market capitalisation stands at RM5.8 billion as at 15 April 2020.

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Issued by Imej Jiwa Communications Sdn Bhd on behalf of Yinson Holdings Berhad

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Imej Jiwa Communications Jason Chiew 017 980 4293 [email protected]