KEPPEL LAND Investor Meetings May June 2014 Di Disclaimer l i - PDF document

KEPPEL LAND Investor Meetings May ‐ June 2014 Di Disclaimer l i This release may contain statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. You are cautioned not to place undue reliance on such statements, which are based on the current views of Management on future developments and events. 1

Contents � Introduction � Introduction � Operations Review � Market Outlook � Going Forward 3 Introduction 4 2

Key Statistics Total Assets Market Cap Total Number of Dividend Policy Share Price as at end ‐ March 2014 as at 16 May 2014 Distribution of net as at 16 May Issued Shares 2014 realised profit as at end ‐ March as a e d a c 2014 $3.51 $5.4b 1.5b 1/3 $13.8b Key Indices Global 100 Most Sustainable Corporation FTSE ST Real Estate Index 1 st in Asia. 1 st in Real Estate worldwide FTSE Asia Pacific ex ‐ Japan Index FTSE EPRA/NAREIT Global Real Estate Index FTSE EPRA/NAREIT Global Real Estate Index FTSE ST China Top Index FTSE RAFI Index 17 th EPRA/NAREIT Index Dow Jones Sustainability Asia Pacific and World Indices MSCI Global Sustainability and MSCI Global Socially Responsible Index series 5 1Q2014 Financial Highlights Lower Net Profit Stronger Overseas Earnings Higher Turnover Down 9% due to the Up 64% y ‐ o ‐ y on strong contribution Largely contributed by China absence of a tax writeback from China residential projects $284.9m $87.7m $26.7m Annualised Net Debt/Equity Strong Cash Position Higher NTA/Share ROE Ratio As at end ‐ March 2014 Up 11% y ‐ o ‐ y vs 6.3% in 1Q2013 vs 0.31x in 1Q2013 $4.58 5.8% 0.40x $1.0b 6 3

Core Businesses Property Development for Sale Property Fund Management � Total AUM of $17.7b^ � Lifestyle residential developments Pan ‐ Asian commercial REIT � Townships AUM : $7.2b � Investment ‐ grade offices Manager of 5 private equity funds � Mixed ‐ developments AUM : $10.5b ^ When fully leveraged and invested Waterfront Homes Townships Grade A Offices Mixed ‐ developments Reflections at Keppel Bay The Botanica Ocean Financial Centre, One Raffles Quay Marina Bay Financial Centre 7 Strategy � 4 Key Thrusts Deepen Presence in Recycle Capital for Core and Growth Markets C d G th M k t Hi h Higher Returns R t • Scale up in core markets of Singapore and China, • Constantly review portfolio to maximise and growth markets of Indonesia and Vietnam returns from projects • Invest opportunistically in markets with good • Undertake a disciplined and proactive growth potential such as Myanmar and Sri Lanka approach in the recycling of assets Grow Commercial Focus on Sustainability Portfolio Overseas and Innovation • Tap potential demand for quality office and • Build a corporate culture that is open, retail space as the regional economies grow collaborative, entrepreneurial and innovative • Leverage expertise as a leading developer of • Continually improve sustainability standards, as award ‐ winning and sustainable developments well as environmental, social and governance (ESG) performance 8 4

Deepen Presence Core Markets � Singapore and China g p Focus on 5 cities in China : Shanghai, Beijing, Tianjin, Chengdu, Wuxi • Growth Markets � Indonesia and Vietnam Focus on Jakarta in Indonesia and Ho Chi Minh City in Vietnam • Potential Markets � Opportunistic investments Good growth potential markets such as Myanmar and Sri Lanka • 9 Grow Commercial Portfolio Overseas Total GFA Est. Completion Date (sm) China Mixed ‐ use Development, Shanghai (99% stake) 110,000 2017/18 Commercial Development, Beijing (51% stake) 100,000 2016 Seasons City, Tianjin Eco ‐ City (55% stake) 162,000 2017 (Phase 1) Life Hub @ Jinqiao, Shanghai (34% stake) (1) Feb 2013 (2) 115,000 Indonesia International Financial Centre Jakarta Tower 2 64,900 2015 Vietnam Vietnam 100,000 (3) Saigon Centre Ph 2, Ho Chi Minh City (45.3% stake) 2016 (retail podium) TOTAL 651,900 (1) Stake held through Keppel Land China (2) Completed in 2009 and acquired in Feb 2013 (3) Retail podium GFA of ~50,000 sm 10 5

Recycle Capital � Divested 37.74% stake in Elita Garden Vista in Kolkata in May 2014 � Sales proceeds : Rs340m (S$7m) � Divested stakes in Jakarta Garden City and Hotel Sedona Manado in 2013 Divested stakes in Jakarta Garden City and Hotel Sedona Manado in 2013 � Net proceeds : $246m � Divestment gains : $152m � Acquired a 3 ‐ ha site for about 3,000 apartments in West Jakarta in Jan 2014 Jakarta Garden City Elita Garden Vista Hotel Sedona Manado 11 Focus on Sustainability & Innovation Sustainability � Among world’s leading sustainable companies • Global 100 Most Sustainable Corporations 2014 : Ranked 17 th ‐ 1 st in Asia and 1 st in Real Estate worldwide • Sustainability Yearbook 2014 : 4 th Year • Dow Jones Sustainability World and Asia Pacific Indices : 3 rd and 4 th Year respectively • MSCI Global Sustainability and MSCI Global Socially Responsible Index series Innovation � Commitment to continually innovate • Channel NewsAsia Luminary Awards 2014 – Innovation Luminary Award • New brand tagline : Thinking Unboxed 思无限, 创非凡 12 6

Operations Review 13 Operations Review – Singapore 14 7

Singapore Residential � Asset size of $2.9b as at end ‐ March 2014 : 1/5 of total assets and 1/3 of total residential assets � Pipeline of about 1,900 homes � Well ‐ located projects close to MRT stations and amenities including reputable schools and shopping destinations Corals at Keppel Bay The Glades Reflections at Keppel Bay Marina Bay Suites 15 Singapore Residential Continuing Sales in The Glades � Sold 92% of 200 launched units (ASP : $1,450 psf) as of 11 May 2014 f 11 M 2014 � Connectivity : Next to Tanah Merah MRT station, and close to EXPO and Changi Business Hub � Amenities: 1 MRT stop to SUTD, near 19 other reputable schools, and retail malls The Glades � BCA Green Mark Gold PLUS Strategic Alliance : China Vanke owns a 30% stake SUTD campus * Singapore University of Technology and Design 16 8

Singapore Residential Highline Residences at Tiong Bahru Launch ‐ Ready in 2Q2014 � Located at CBD ‐ fringe, in a heritage neighbourhood g , g g inspired by SoHo, Greenwich Village in New York � Connectivity : Close to Orchard Road and MRT station � Amenities : Duke ‐ NUS Graduate Medical School and retail malls Tiong Bahru Plaza and Great World City � Total units : 500 units Highline Residences Highline Residences BCA Green Mark Gold PLUS 17 Singapore Commercial � Asset size of $2.9b as at end ‐ March 2014 : 1/5 of total assets and 2/3 of total commercial assets � Developed and redefined the skyline in Marina Bay and Raffles Place Developed and redefined the skyline in Marina Bay and Raffles Place Marina Bay Financial Centre* One Raffles Quay* Ocean Financial Centre* Green Mark Gold PLUS^ Green Mark Gold Green Mark Platinum • One Raffles Quay, Marina Bay Financial Centre Phase 1 and Ocean Financial Centre divested in 2007, 2010 and 2011 respectively ^ For Tower 3. Tower 1 & 2 achieved Green Mark Gold award 18 9

Singapore Commercial Marina Bay Financial Centre Tower 3 Close to Full Occupancy � Tower 3 : 96% committed as at end ‐ Mar 2014 � Tenant Mix : Financial (56%); Non ‐ financial (44%) • Financial : DBS Bank, Bank of Montreal, Milbank, Norinchukin Bank • Non ‐ financial : Wong Partnership, Rio Tinto, Mead Johnson, Booking.com (Singapore) � Net Lettable Area : 1.3m sf Marina Bay Financial Centre Marina Bay Financial Centre BCA Green Mark Gold PLUS 19 Operations Review – Overseas 20 10

China � Over 20 years of track record Residential � Strong team : About 800 staff (exclude hospitality) Strong team : About 800 staff (exclude hospitality) Commercial � Healthy financials : low D/E ratio and strong cash position Shenyang � About 40,000 homes in the pipeline Beijing Tianjin � About 487,000 sm GFA : Office and retail space in Beijing, Tianjin and Shanghai Nantong � Asset size : $5.9b as at end ‐ March 2014 Jiangyin Ch Chengdu d � 43% of total assets, of which over 80% are Wuxi residential Shanghai � Focus : Shanghai, Beijing, Chengdu, Wuxi, Tianjin Kunming Zhongshan 21 China Continuing Sales � Key projects sold to date (11 May 2014) include: Key projects sold to date (11 May 2014) include: � The Springdale : Sold 95% of 1,128 launched units � Seasons Park : Sold 85% of 1,157 launched units � Stamford City : Sold 69% of 705 launched units � Park Avenue Heights : Sold 64% of 549 launched units The Springdale, Shanghai Park Avenue Heights, Chengdu Seasons Park, Tianjin Stamford City, Jiangyin 22 11

Indonesia Acquired Prime Residential Site Along Jakarta’s Outer Ring Road � Near CBD, airport, international schools and N i i i l h l d shopping malls � Targeted at middle ‐ income segment Project Details Land Area : 2.9 hectare Gross Floor Area : 117,000 sm Development Type : ~3,000 units Acquisition Cost: $40m ($1,400 psm) Expected Launch : 2015 23 Indonesia Commenced Leasing for International Financial Centre Jakarta Tower 2 � In discussion with potential tenants for anchor space I di i i h i l f h � Capitalise on strong demand and limited supply within the CBD Project Details Jalan Jendral Sudirman Location : (Heart of CBD) ( ) Gross Floor Area : ~64,900 sm Expected Completion : 2H 2015 IFC Jakarta Tower 2 First in Indonesia to achieve BCA Green Mark Platinum 24 12