Chairman

Dear Valued Shareholders,

It is my distinct privilege to present to you the Annual Report of Uni-Asia Group Limited (“Uni-Asia” or the “Group”) for the financial year ended 31 December 2025 (“FY2025”).

I have been an Independent Director with Uni-Asia since 2018, and now assuming the role of Non- Executive Chairman following the leadership renewal announced last year, I am honoured to guide Uni-Asia through its next chapter. I must first pay tribute to my predecessor, Mr. Michio Tanamoto, whose steady leadership and long-term vision laid the strong foundations upon which the Group continues to build.

Board Leadership Strengthening

FY2025 marked an important phase of renewal for the Board. During the year, we welcomed Mr. Lim Kai Ching, Mr. Shinichiro Ishizaki and Mr. Takeshi Iritono as Executive Directors. Each brings deep domain expertise that strengthens the Board’s collective leadership, oversight and execution capabilities.

Mr. Lim Kai Ching brings extensive experience in finance, capital management, risk management, investor relations and governance. Having served the Group for over a decade, including as Group Chief Financial Officer, he provides strong continuity and institutional knowledge, reinforcing the Group’s financial discipline and governance standards.

Mr. Shinichiro Ishizaki, Head of the Shipping Division, brings deep operational and execution expertise in shipping. He oversees the Group’s maritime business, including fleet renewal, vessel investments, chartering and ship operations, strengthening the Group’s shipping platform and asset management capabilities.

Mr. Takeshi Iritono, President of Uni-Asia Capital (Japan) Ltd., provides leadership in Japan property investment and asset management. He is responsible for the Group’s real estate activities in Japan, including residential, hospitality and commercial assets, and plays a key role in advancing the Group’s diversification within the Japan property market.

FY2025 Overview

For the financial year ended 31 December 2025, the Group recorded a net profit after tax of US$0.8 million, compared to a net loss of US$28.2 million in FY2024. This outcome was achieved despite the prolonged off-hire of MV Glengyle following a collision incident in April 2025, as well as the transitional impact of our fleet renewal programme. The improvement in results reflects the stabilisation of earnings following significant non-cash fair value losses recognised in the prior year, together with positive investment returns during FY2025.

In shipping, the Group made meaningful progress in reshaping its fleet profile. During the year, we acquired four younger vessels and completed the disposal of all remaining 29,000 DWT vessels, marking a clear step towards a more efficient and competitive fleet. While these changes temporarily affected charter income, they are intended to strengthen the Group’s operational and regulatory positioning over the medium term.

In Japan property, the Group continued to advance its platform in a disciplined manner. In addition to the ALERO residential portfolio, the expansion of Private Finance Initiative (“PFI”) projects represents an important development, providing longer dated and more stable income streams aligned with social infrastructure needs. The Board continues to view Japan as a core market, while maintaining a cautious and selective approach to capital deployment.

Capital Discipline and Dividend

The Board remains committed to balanced capital management, ensuring that growth initiatives are supported by a sound financial position. In recognition of the Group’s return to profitability and with due consideration to future investment needs, the Board has proposed a final dividend of 1.0 Singapore cent per ordinary share for FY2025, subject to shareholders’ approval at the forthcoming Annual General Meeting. This reflects our intention to provide shareholders with a measured and sustainable return while preserving financial flexibility.

Commitment to Governance

As Chairman, my priority is to ensure that the Group’s progress is underpinned by the highest standards of corporate governance. We firmly believe that transparency, accountability and effective oversight are fundamental to sustainable shareholder value creation. In this regard, I am pleased to note that Uni-Asia ranked 35th in the Singapore Governance and Transparency Index (SGTI) 2025, our highest ranking to date. This recognition reinforces our resolve to safeguard stakeholder interests with integrity and to continue

During FY2025, the Group experienced a cyber security incident. While the incident did not have a material impact on the Group’s financial position or operations, it underscored the importance of robust technology governance. The Group has since engaged external adviser, Ernst & Young to review its systems and to provide recommendations on strengthening its cyber security framework. Management is in the process of evaluating and implementing appropriate measures to enhance IT controls, operational resilience and business continuity.

Looking Ahead

Uni-Asia operates in asset-intensive sectors that are inherently cyclical. As such, the Board remains focused on prudent risk management, disciplined execution and longterm value creation. Our diversified business model across shipping and Japan property, supported by co-investment partnerships and asset-backed financing structures, provides the Group with resilience as we navigate market uncertainties.

On behalf of the Board, I would like to express my sincere appreciation to our shareholders for their continued trust, to our clients and business partners for their confidence, and to my fellow Directors for their guidance and stewardship. In the face of the challenges encountered during FY2025, I would also like to recognise the resilience demonstrated by our management and staff across all offices, and to thank them for their dedication, professionalism and commitment throughout the year.

We look forward to your continued support as Uni-Asia progresses into its next phase.