Focus 2: Protecting Our Environment Committed to environmental stewardship, the Group strives to minimise its ecological footprint by managing waste, protecting biodiversity, and enhancing energy efficiency at its exploration and production sites. As part of our commitment to responsible operations, we also align with evolving sustainability disclosure requirements. In Singapore, climate-related disclosures under IFRS S2 are currently subject to a phased implementation. While the mandate is not yet in force for companies like Rex until FY2030, this report incorporates relevant IFRS SDS principles where applicable, applying available transition relief where full alignment is still in progress. The Group hopes to enhance its environmental performance and reporting compliance readiness by proactively aligning with these standards ahead of regulatory requirements. Energy and Carbon Management in Our Operations GRI 302-1, 302-2, 302-3, 305-1, 305-2, 305-3, 305-4, 305-7 MOL’s energy utilisation is predominantly based on diesel, which is used to generate on-site energy for the Mobile Offshore Production Unit (“MOPU”) and Floating Storage and Offloading (“FSO”) unit, along with powering various vessels. LPA and LRG use district heating for their heating and hot water needs, while all other energy consumption in our corporate offices is from purchased electricity. Understanding the implications of GHG emissions on climate change, the Group has started monitoring its carbon footprint from FY2022. GHG emissions are accounted for following the GHG Protocol developed by the World Resources Institute and the World Business Council for Sustainable Development. The emissions data is presented separately based on the equity share approach perspectives. Where primary data is unavailable, estimates have been used based on reasonable assumptions and the best available information at the time of reporting. The primary contributors to Scope 1 emissions include gas flaring and energy generation. Scope 2 emissions arise from indirect emissions linked to the consumption of purchased electricity and heating, if applicable. The calculation of Scope 2 emissions follows both locationbased and market-based approaches. In FY2024, the market-based approach applied only to the Norway office due to data availability. In FY2025, market-based approach has expanded to include all other reporting entities. Where market-based data is not available, market-based Scope 2 emissions are equivalent to location-based emissions in accordance with the GHG Protocol Scope 2 Guidance. The emission factors used to calculate the Norway office's Scope 2 market-based carbon footprint were sourced from recognised industry standards and applied through Ørn Software's Optima platform to calculate the environmental impact. Scope 3 emissions consist of emissions from categories such as purchased goods and services as well as business travel. In FY2025, we have disclosed a new category, Category 2 Capital goods as this category has been identified to be significant to Rex's operations. Scope 3 Category 15 investments include the Group’s nonoperated assets, specifically the Brage and Yme Fields located in Norway, as well as the Lauben Field in Germany. Nitrogen oxide (“NOx”) emissions predominantly stem from the burning of hydrocarbon fuels for electricity production at our platforms and drilling rigs. Enhancing energy efficiency can result in reduced NOx emissions, while sulphur oxide (“SOx”) emissions mainly result from the diesel fuel used in power turbines. In 2025, we disclosed 240.54 terajoules (“TJ”) of all reporting entities total fuel usage of non-renewable energy consumption within Rex. In FY2024, the Group transitioned from a mix of operational-based and equity-share approach to an equityshare approach for calculating Scope 3 GHG emissions. Under the equity-share approach, emissions are calculated based on the Group’s share of equity in subsidiaries with oil production. This change was made to improve the accuracy and transparency of our emissions reporting by adopting the equity-share approach. This alignment better reflects the operational scope of our activities, especially in subsidiaries where there is only partial control, and ensures greater consistency with best practices in GHG accounting. As a result, Scope 3 emissions calculations now provide a more comprehensive view of our indirect emissions, particularly from our supply chain and logistics operations. Going forward, we will continue to refine our methodology and improve data quality, with plans to further expand our Scope 3 reporting boundaries as better data becomes available. The Group has made efforts to improve energy usage efficiency in its E&P activities, which can lead to cost improvements. Energy Metrics (Energy consumption within Rex)7 Group Total FY2025 FY2024 Total fuel usage (non-renewable) (TJ) 240.54 218.49 Total fuel usage (renewable) (TJ) 19,495.39 - Heating consumption (TJ) 0.5 0.1 Electricity consumption (TJ) 1.6 0.4 Total energy consumption (TJ) 19,738.1 219.01 Energy Intensity* (TJ/ million USD) 61.91 0.73 7 Renewable energy for LPA is reported under Scope 2 market-based emissions but not separately disclosed in energy consumption due to limited data availability. All FY2024 energy data has been restated to reflect updates mentioned in "Restatements" on Page 58 of the Annual Report. * Energy intensity is the total energy consumed divided by the company’s revenue. The total revenue of Rex is US$318.8 million for FY2025 and US$298.14 million for FY2024. Rex International Holding Limited 81
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