IN 2024, WE SPENT $420mON R&D OUR GOALS • Maintain our R&D budget of up to 5% of our annual revenue to support business growth • Position ourselves for future technology adoption by broadening the scope of new technology areas being explored • In 2024, our new investment areas in R&D include AI, GenAI, cybersecurity, quantum, advanced materials and alternative energy technologies, among others. This added to the significant investments we continue to make in product development. Coupled with steady investments in R&D for Systems Integration and continuous improvements for our MRO businesses, the weighted average investments from our diversified businesses are tantamount to 3.7% of revenue • Our investments have enabled us to bring new innovations to the market quickly. For example, we currently have over 20 AI-powered solutions for various businesses and customers in the critical sectors, as showcased at our InnoTech Conference 2024 • We have established new collaborations with global partners in emerging areas, such as in quantum and smart and sustainable solutions, to explore and bring new technologies into new growth markets • Furthermore, we have explored frontier technologies with leading experts through our distinguished professorship programme, supporting translational research of nascent technologies to reach maturity and fill market gaps • Increase focus on R&D translation to develop new solutions or businesses to meet industry challenges • Increase development in AI-related technologies and mainstream AI capabilities within our businesses 2025 OUR METRICS 2024 OUR ACHIEVEMENTS 21 OVERVIEW OUR SUSTAINABILITY APPROACH ECONOMIC ENVIRONMENTAL GOVERNANCE INDEX SOCIAL
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