Points of Inflection "April: Power Sovereignty - The Transition From Mol..."

Research evidence excerpt

Points of Inflection "April: Power Sovereignty - The Transition From Mol..."

Global Research

12 May 2026ab

Points of Inflection Equities

Asia PacificApril: Power Sovereignty - The Transition From

Molecules to Megawatts Accelerates Global Sustainability

Phineas Glover

Analyst

phineas.glover@ubs.com

Asia's Energy Challenge Trifecta: Molecules Megawatts and Materials +852-3712 3917

This month we delved deeper into APAC's exposure to the Middle East energy crisis, Lydia Brunton

analysing how prolonged energy disruption risks shifting from a margin shock to a Analyst

system-level constraint across APAC. We assess exposure to imported fuels and critical lydia.brunton@ubs.com

inputs, highlighting diverging vulnerabilities between North Asia’s gas dependent +61-2-9324 2172

power systems and exporters such as Australia and Indonesia. A key underappreciated Leigha Miyata

risk lies in system critical materials: shortages of semi inputs such as HBr, PGMEA, helium Analyst

and sulphuric acid illustrate how physical choke points can ultimately cap output. The leigha.miyata@ubs.com

broader implication is an embedded energy security premium and a shift in how markets +81-3-5208 7101

price resilience, reflected in targeted updates to our APAC Transition Best Ideas list. Jarvis Lam

What Continues to Work? In Short, Electrification jarvis.lam@ubs.com

Grid infrastructure, energy storage (BESS), lithium and AI hardware (power & cooling) +852-2971 7701

remain structural winners, supported by durable demand and strong corporate results. Yishu Yan

April saw these themes continue to deliver robust Q1 growth and upgrades to Analyst

orderbooks and outlooks, easing prior valuation concerns. This was especially the case S1460520110001