Slide 1: FY2025 Results
FY2025 Results 1 26 February 20261
Slide 2: Agenda
Agenda 1 CEO address FPSO P-78 at the Búzios field in Brazil 2 Financial Review 3 Value Creation 2
Slide 3: CEO Address
CEO Address Chris Ong @Seatrium
Slide 4: FY 2025 Highlights
FY 2025 Highlights Results Validates Strategy & Execution 1 Delivered robust financial performance & improving shareholder value • Robust revenue growth and doubled net profit • Focused execution and rigorous risk management • Positive 1-year Total Shareholder Returns of 5.2% 2 Secured >S$4B of new
Slide 5: Doubled NPAT Outpaced Revenue Growth: Significant Margin Expansion
FY 2025 Highlights Doubled NPAT Outpaced Revenue Growth: Significant Margin Expansion 24% 11.5 9.2 Revenue 7.3 (S$’B) FY23 FY24 FY25 106% 324 NPAT 157 (S$’M) Three FPSOs, P-80, P-82 and P-83, -2,017 at Tuas Boulevard Yard, where integration works are underway FY23 FY24 FY25 5
Slide 6: Projects Validated One Seatrium Model
Projects Validated One Seatrium Model FPSO P-78 Starts Production FPSO P-78 at the Búzios field in Brazil (Credits: Petrobras) • Commenced production with first oil on 31 December 2025, and first gas expected in 1Q26 • Expanded capabilities into FPSO offshore commissioning • Proven end-to-end delive
Slide 7: Future Growth Underscored By Clear Earnings Visibility
Future Growth Underscored By Clear Earnings Visibility >S$4B >S$17B >S$32B New Order Wins Net Order Book Pipeline Opportunities Enforced mid-teens project margin Providing revenue visibility at >1.5x Well-positioned to capitalise on hurdles and progressive payments FY25 revenue tailwinds Oil: Deepwa
Slide 8: Positioned To Lead: Differentiated, Proven & Scalable
Positioned To Lead: Differentiated, Proven & Scalable Tech: Evolving Capabilities Expanding Series-Build: High-Value Franchises Oil & Gas Offshore Wind RU New! FPSOs FPUs Offshore Offshore FSU/FSRU Powerships Substations Installation Conversion Vessels • Proprietary Designs: New-Builds 2GW Karpowers
Slide 9: Pursuing >S$32B Of Pipeline Orders Over Next 24 Months
Pursuing >S$32B Of Pipeline Orders1 Over Next 24 Months Oil & Gas ~S$23B EUROPE S$6B Offshore Wind ~S$7B NORTH S$1B HVDC/HVAC Conversions ~S$2B AMERICA platform >S$1B ASIA-PACIFIC MIDDLE EAST & AFRICA S$2B S$1B S$1B • FSRU SOUTH • Powership AMERICA S$8B S$12B • Fixed platform • FLNG FPSO newbuild, I
Slide 10: Financial Review
2 Financial Review Stephen Lu, CFO 1.4GW HVDC Offshore Converter Platform at the Sofia windfarm in the UK (Credits: RWE Renewables) 10
Slide 11: FY 2025 Performance Driving Momentum For Consistent Delivery
FY 2025 Performance Driving Momentum For Consistent Delivery 1 Strong performance underpinned by steadfast execution of robust order book • Achieved revenue of S$11.5B (24% higher vs FY24) • Gross margin of 7.4% (430 bps higher vs FY24) • Net profit at S$324M (106% higher vs FY24) 2 Improving cash f
Slide 12: Topline Growth Driven By Strong Execution
Topline Growth Driven By Strong Execution Revenue S$’B Oil and Gas 24% +24% • YoY increase attributed to FPSOs P-84 and P-85 11.5 Offshore Wind 60 % 9.2 • Driven by 2GW HVDCs Beta, Gamma and Nederwiek 2 8.1 Repairs and Upgrades 25% (71%) • Lower volume YoY: 185 vessels completed in FY25 due to 6.6 t
Slide 13: Strong Organic Performance Signals New Baseline Levels
Strong Organic Performance Signals New Baseline Levels S$’M FY25 FY24 % Gross margin 430bps to 7.4% Revenue 11,472 9,231 24 • Favourable mix of higher-margin projects • Higher utilisation reduced unallocated overheads Gross profit 848 291 192 • Improved operating leverage, productivity and cost disc
Slide 14: Strong Cash Generation; Positive FCF
Strong Cash Generation; Positive FCF S$440M S$2M S$443M Operating Cash Flow Investing Cash Flow Free Cash Flow 1 (FY24: S$97M) (FY24: S$120M) (FY24: S$218M) • Operating cash flow, excluding • Prudent capital expenditure of • FCF, excluding one-off payments one-off payments related to legacy S$122M,
Slide 15: Robust Balance Sheet; Positioning For Growth
Robust Balance Sheet; Positioning For Growth Active Refinancing Gross debt S$’B 3.4% -5% Reduced weighted average • Driving down cost of debt; both lower margin and cost of debt1 2.6 2.5 benchmark rates (FY24: 4.9%) Floating 42% • Progressively lengthen average loan maturity 48% S$3.1B • Diversifyin
Slide 16: Reshaping Our Business: Optimising Margin & Cost Profiles
Reshaping Our Business Optimising Margin & Cost Profiles For Long-Term Resilience Strong Gross Profit Margin Growth Significant Margin Expansion Driving S$’M / % +430 bps Towards Further Improvements 1,500 7.4% • Increasing proportion of higher-margin, Series Build projects (~95% of net order book a
Slide 17: Divestments & Monetisation
Divestments & Monetisation Unlocking Value & Optimising Cost Structure BLUEPRINT TRACTION POTENTIAL (FY25 to 1H26) (By FY28) Ongoing divestments & monetisation since merger to transform cost structure and unlock shareholder value >S$50M Annualised Cost Savings >S$200M Additional Assets YARDS >S$330M
Slide 18: Value Creation
3 Value Creation Chris Ong, CEO 18 18
Slide 19: Driving Long-term Shareholder Returns
Driving Long-term Shareholder Returns Higher Dividends Backed By Growth Driving Long-Term Shareholder Value Total Shareholder Return1 +100% 5.2% • Committed to long- term total shareholder 3.0 3.0 returns through cents/share business growth, dividends and share 1.5 Proposed final cash Negative repur
Slide 20: Strategic Roadmap to Long-term Value Creation
Strategic Roadmap to Long-term Value Creation Seatrium’s Value Creation Framework Optimised Strategic Strong Margin Financial Sustainable capital Growth Execution expansion discipline TSR allocation Strong Trajectory Towards FY2028 Steady-State Targets. Capital Allocation Priorities 1 2 3 4 Dividend
Slide 21: Question & Answer
Question & Answer FPSO One Guyana, the fourth integration project for offshore fields in Guyana by Seatrium 21
Slide 22: Engineering Our Future Together
Engineering Our Future Together Investor.Relations@seatrium.com | Seatrium
Slide 23: Appendix
Appendix Delivery of topside modules for FPSO Raia by Angra Yard in Brazil 23
Slide 24: Robust Order Book
Robust Order Book Net order book 1 in S$’M Oil and Gas Offshore Wind Conversion/Others 24 Projects in order book with deliveries till 2033 Dec-24 75% 24% 23,217 40 % Of net order book are renewables and green/cleaner solutions Of pre-merger, non-FPSO projects Dec-25 66% 33% 17,841 <S$220M remaining
Slide 25: Order Book: Project Information
Order Book 1 : Project Information No Products / Services Clients Solution Awarded POC No Products / Services Clients Solution Awarded POC type2 year type2 year For delivery in 2026 For delivery in 2027 (continued) 1 OSS Revolution Wind Ørsted OW 2021 > 75% 14 FLNG Hilli Episeyo upgrade Golar O&G 20
Slide 26: Glossary
Glossary 1H First half FY Financial year OCP Offshore converter platform 2H Second half G&A General and administrative expense OSS Offshore substation B Billion GP Gross profit OW Offshore wind Bps Basis points GW Gigawatt p.a. Per annum c. Circa GNL Guanabara Navegação Ltda POC Percentage of comple
Slide 27: Petrobras 2026-2030 Business Plan
Petrobras 2026-2030 Business Plan Source: Strategic Plan: what guides our decisions | Petrobras 27
Slide 28: Disclaimer
Disclaimer The material in this Presentation has been prepared by Seatrium Limited and contains general background information about the Company’s activities as at the date of this Presentation. No representation, warranty, or undertaking, express or implied, is made as to, and no reliance should be