Notice Regarding Revision (Upward) of Consolidated Earnings Forecast for the Fiscal Year Ending December 2026

Overview of Forecast Revision

MODEC, Inc. has revised upward its consolidated earnings forecast for the fiscal year ending December 2026, citing steady progress in the construction of floating production storage and offloading units (FPSOs), strong operational performance, and an expected increase in interest income. The new forecast is revenue of 4,900,000 thousand USD, operating income of 520,000 thousand USD, profit before tax of 560,000 thousand USD, net income attributable to owners of the parent of 410,000 thousand USD, and earnings per share of 6.00 USD. Changes versus the previous forecast are: revenue +6.5%, operating income +13.0%, profit before tax +12.0%, and net income +10.8%. These projections are based on information available as of the date of this announcement and actual results may differ depending on future economic conditions and market trends.

Outlook and Cautionary Notes

FPSO utilization rates and the progress of current construction projects are expected to contribute to performance and are the primary drivers of this revision. Please note that the figures in this document are based on information available at the time of publication and actual performance may differ due to changes in economic and market conditions.