CAPITALAND LIMITED 1H 2020 Financial Results 7 August 2020 - PowerPoint PPT Presentation

CAPITALAND LIMITED 1H 2020 Financial Results 7 August 2020

Disclaimer This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither CapitaLand Limited (“CapitaLand”) nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation. The past performance of CapitaLand or any of the listed funds managed by CapitaLand Group (“CL Listed Funds”) is not indicative of future performance. The listing of the shares in CapitaLand (“Shares”) or the units in the CL Listed Funds (“Units”) on the Singapore Exchange Securities Trading Limited (“ SGX- ST”) does not guarantee a liquid market for the Shares or Units. This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Shares or Units. 2

Table of Contents • 1H 2020 Overview • Financial Highlights • Operational Highlights by Business Units • Development • CapitaLand Singapore and International • CapitaLand China • CapitaLand India • Fund Management • CapitaLand Financial • Lodging • CapitaLand Lodging 3

1H 2020 Overview Singapore Science Park

1H 2020 Overview Put To The Test Ensuring resilience through a strong balance sheet ⚫ Focus on recurring ~S$300m income & operating cash flow ⚫ Strategic entry into new economy asset Net cash classes. generated from MARCH CapitaLand’s FEBRUARY APRIL MAY JUNE operating activities in large and 1H 2020 Social distancing China lifted Singapore’s Circuit diversified restrictions progressively India and Breaker tighten in other parts of lockdown. Omnichannel Singapore commenced; only China. 15 CapitaLand portfolio is key platforms eCapitaMall reopened in phases. malls closed. essential services allowed Encouraging signs of and Capita3Eats to open across the recovery emerges across launched in Singapore to to our resilience country. all asset classes. Singapore shopper drive sales for retailers Singapore lifted traffic returned to and F&B operators. DORSCON 1 Alert to and agility approximately 50% of India entered CapitaLand’s announced Orange. Government lockdown; all business pre-COVID levels in the support recommends WFH 2 . and logistics parks first week of phase 2 re- measures for remained operational, opening. CapitaLand rendering essential stakeholders JANUARY reported upticks Singapore shopper traffic services, as with all CapitaLand’s committed cross S$100m 3 . declined. CapitaLand support measures for workspace assets Various cities in Hubei, including in residential announced support stakeholders exceeded Wuhan, enter across CapitaLand’s and retail measures for eligible S$300m 3 . portfolio. lockdown . CapitaLand Singapore retailers. numbers since Achieved S$154.0m Malaysia started closed 4 malls in Wuhan. Secured S$500m re-opening. of cost savings in 1H Nationwide Movement CapitaLand cut board fees sustainability- Control. 2020 4 . as well as salaries for senior CapitaLand set up RMB10m linked bilateral management in solidarity CapitaLand secured 2 fund in China to support relief CapitaLand inked COVID pandemic with impacted patrons. efforts in China . loan with UOB. bilateral green loans Singapore’s first SORA- intensified globally and Wage freeze for all staff at totaling S$400m with based Loan of S$150m international travel managerial level and HSBC and DBS. with OCBC Bank. came to a halt. above. Notes: 1. Disease Outbreak Response System Condition 2. Work from home 5 3. On 100% basis rental support to our commercial tenants, excluding government subsidies 4. Versus 2H 2019

1H 2020 Overview Diversified Businesses Remain A Key Strength Risks spread out across geographies, asset classes and income streams Other Emerging Residential, Commercial Asia’s Leading Other Developed Business Park, Markets 5 Strata & Urban Markets 3 Industrial & Development 11% 15% Logistics 7 8% 15% Diversified Real By By 28% Geography Estate Group Asset Retail 28% 32% Class 42% S$91.8m of Lodging 6 China 4 $134.7Bn RE AUM 8 21% Embedded Fund Singapore Commercial Management Fee Derived S$1.13 Billion in 1H 2020 Total Operating EBIT 1 From Five Asset Classes Income Residential, Commercial Business Park, Commercial 2 Retail 2 Lodging 2 Fund Management Strata & Urban Industrial & Logistics 2 Development 28.4% 82.5% 25.3% 8.6% 74.2% 288.9 595.2 171.8 91.8 182.3 165.3 Figures in S$ million 266.1 142.0 444.7 52.7 30.1 N.M. 1H 2019 1H 2020 1H 2019 1H 2020 1H 2019 1H 2020 1H 2019 1H 2020 1H 2019 1H 2020 1H 2019 1H 2020 Notes: 4. Includes Hong Kong 7. Includes data centre 1. Include Corporate Operating EBIT of S$17.5mn (1H 2020) Scale Balance Agility Focus 6 5. Excludes China 8. Refers to the total value of real estate managed by CapitaLand 2. Include Fund Management Operating EBIT 6. Includes multifamily and hotels Group entities stated at 100% of property carrying value 3. Excludes Singapore and Hong Kong

1H 2020 Overview 1H 2020 Financials Overview Revenue EBIT PATMI S$2,027.4M S$596.8M S$96.6M Operating Total Cost Cash & Available Cashflow Savings 1 Undrawn Facilities Note: 7 1. Versus 2H 2019

1H 2020 Overview 1H 2020 YoY PATMI Composition Comparison Fair value losses key attributor to lower 1H 2020 PATMI S$’million Operating PATMI lower due to Portfolio gains/ Revaluations/ PATMI • Operating 900 Realised FV gains Impairments PATMI rental rebates given to tenants and impact to operating 800 performance primarily for our 700 retail and lodging businesses. Trading 600 Residential handovers mostly IP 500 scheduled for 2H 2020 875 400 Portfolio/realised FV gains • 300 decreased due to slow down in 308 200 209 (85%) 379 transactions amidst COVID-19 (80%) 100 135 97 9 53 52 Unrealised revaluation losses • 0 (15%) (20%) (173) were mainly from CCT and CMT -100 20% portfolio in Singapore as both -200 REITs commissioned independent 1H 2019 1H 2020 1H 2019 1H 2020 1H 2019 1H 2020 1H 2019 1H 2020 property valuations due to the proposed merger Note: 8 1. Cash PATMI = Operating PATMI + portfolio gains + realised FV gains

1H 2020 Overview Overall Fee Income Remained Resilient Well-supported by recurring fee income even as SR management and one-time transaction fees were impacted by COVID-19 1H 2019 1H 2020 Others 2 Others 2 12% 11% REIT Management 3 20% REIT Management 3 Serviced Serviced Residence 34% Residence Management Management 30% 15% Total Fee Income 1 : Total Fee Income 1 : Private Fund S$307.0 Million Management 3 S$275.1 Million 11% Project Management Private Fund Property 3% Management 3 Management 12% 25% Project Management Property Management 2% 25% Notes: 1. Includes fee-based revenue earned from consolidated REITs before elimination at Group Level 2. Mainly include general management fees, leasing commission, HR services, MIS, accounting and marketing fees 3. Includes acquisition/divestment fees 9