1H 2012 Financial Results. 18 July 2012

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1 1H 2012 Financial Results 18 July 2012

2 Scope of Briefing Opening Remarks by Group CEO Financial Performance Operations Review Market Outlook Going Forward 2

3 Opening Remarks by Group CEO 3

4 Strong Earnings Growth Net profit grew 77% y-o-y to $236.6m in 1H 2012 Steady residential sales amidst uncertain global economy and property cooling measures in Singapore and China MBFC Tower 3 increased commitment to about 70% Fund management continues to provide stable income stream 4

5 Well-Positioned for Expansion Redevelopment of IFC Jakarta Tower 2 to meet Grade A office demand Geographical footprint extended to Sri Lanka Strong cash position to take on new development opportunities in key markets Continued emphasis on transparency and sustainability for future growth 5

6 Financial Performance 6

7 Financial Performance: 1H 2012 vs 1H H H 2011 % Chg Turnover ($m) (35.0) EBITDA ($m) (33.5) Pre-tax Profit ($m) * 62.9 Net Profit ($m) * 76.8 * Includes a $24.4m gain on divestment of Keppel Digihub in 1Q

8 Key Financial Ratios 1H H 2011^ % Chg EPS (cts) Annualised ROE (%) NTA / Share ($) Net Debt/Equity Ratio (x) (47.2) ^ 1H 2011 comparatives restated due to the adoption of Amendments to FRS 12. 8

9 Breakdown of Net Profit: Business Segment $m 1H H 2011 % Chg Comments Property Trading Property Investment Higher contribution from units sold under deferred payment scheme of Reflections at Keppel Bay Improved performance from K-REIT Asia Fund Management Higher management fees earned Hotels / Resorts 6.5 (1.0) nm Others (36) (15.3) nm Divestment Gain nm Total Improved contribution from Hotel Sedona Yangon and Spring City Resort, Kunming Lower marketing and project management fees earned Gain from the disposal of Keppel Digihub in 1Q

10 Breakdown of Net Profit: Geographical Location $m 1H H 2011 % Chg Comments Singapore % % Stronger contribution from property trading and K-REIT Asia Overseas % % Higher contribution from residential projects in China Sub-total % % Divestment Gain nm Gain from the disposal of Keppel Digihub in 1Q 2011 Total

11 Notes on Profit Recognition Projects % Sales % Completion Recognition in Profit 1H 2012 ($m) Reflections at Keppel Bay (1,129 units) Marina Bay Suites (221 units) The Springdale, Ph1 & 2 (1,338 units) ^ ^Profit recognition for overseas projects is based on completion of the project/phase 11

12 Balance Sheet Strength Strong cash position: $1.6b as at end-jun 2012 Availability of credit facilities and unutilised amount of US$386m under the MTN programme 1H H 2011 % Chg Net Debt $1.2b $1.6b -25.0% Net Debt/Equity Ratio 0.19x 0.36x^ -47.2% Avg Interest Rate of Borrowings 1.8% 2.0% -10.0% Interest Cover Ratio * 26.5x 14.7x^ 80.3% Profit Before Interest and Tax * Interest Cover Ratio = Net Interest Cost on External Borrowings ^ 1H 2011 comparatives restated due to the adoption of Amendments to FRS

13 Loan Maturity Profile Due in 2012 Due in 2013 Due in 2014 Due in 2015 Due in 2016 Due in 2017 Due in 2022 Rolling 1% 4% 5% 7% 10% 12% 25% 36% 0% 5% 10% 15% 20% 25% 30% 35% 40% Total Debt: $2.8b as at end-june 2012 Fixed rate debt: 53% as at end-jun 2012 vs 50% as at end-jun 2011 Average debt maturity: 2.9 yrs as at end-jun 2012 Issuance of $200m 10-year bond at 3.80% p.a. in June 2012 Part of MTN Programme 13

14 Operations Review 14

15 Singapore Operations 15

16 Singapore Residential Steady Suburban Sales Sold more than 190 units in 1H 2012 The Luxurie Achieved sales value of $301m for about 218,000 sf area sold Take-up mostly from The Luxurie Sold about 150 units in 1H 2012 About 88% of 450 launched units sold as at end-jun

launched units sold as at end- Jun 2012 Appointed Master Architect Daniel Libeskind for Keppel Bay Plot 3: 367 units

17 Singapore Residential Selective Demand for Premium Waterfront Homes New units launched at Marina Bay Suites well taken up 90% of 188 launched units sold as at end- Jun 2012 Reflections at Keppel Bay substantially sold 90% of 950 launched units sold as at end- Jun 2012 Appointed Master Architect Daniel Libeskind for Keppel Bay Plot 3: 367 units Located close to Resorts World Sentosa, HarbourFront Office Park and VivoCity Marina Bay Suites Reflections at Keppel Bay 17

18 Singapore Commercial Leasing Momentum Continues for MBFC Tower 3 Secured new tenants, increasing commitment to about 70% New leases for about 120,000 sf Diversified tenant profile About one-third of tenants from non-financial sectors Marina Bay Financial Centre Tower 3 Obtained TOP DBS Bank started operation at end-june 2012 Other tenants progressively moving in 18

19 Overseas Operations 19

Overseas Strengthen Presence in Key Cities Over 400,000 sm of prime

Development, Beijing s CBD Seasons City, Tianjin Eco- City Vietnam

Jakarta Tower 2 Gross Floor Area (Approx.

20 Overseas Strengthen Presence in Key Cities Over 400,000 sm of prime commercial space under development Country China Commercial Development, Beijing s CBD Seasons City, Tianjin Eco- City Vietnam Saigon Centre Ph 2, HCMC Indonesia International Financial Centre Jakarta Tower 2 Gross Floor Area (Approx.) 100,000 sm 162,000 sm 90,000 sm 64,000 sm Saigon Centre Ph 2 IFC Jakarta Tower 2 Seasons City, Tianjin Eco-City 20

China Sales Improved in 2Q 2012 Sold about 680 units in 1H 2012 vs about 400 units in 1H 2011

2Q 2012 vs about 190 units in 1Q 2012 The Botanica Ph 6: More than 350 units sold in 2Q 2012

Central Park City, Wuxi The Springdale, Shanghai Ph 6: Sold 97% of 1,226 launched units as at

21 China Sales Improved in 2Q 2012 Sold about 680 units in 1H 2012 vs about 400 units in 1H 2011 Sales value of about RMB500m achieved for about 63,000 sm area sold Take up of about 490 units in 2Q 2012 vs about 190 units in 1Q 2012 The Botanica Ph 6: More than 350 units sold in 2Q 2012 Central Park City achieved good sales: About 90 units sold in 2Q 2012 The Botanica, Chengdu Central Park City, Wuxi The Springdale, Shanghai Ph 6: Sold 97% of 1,226 launched units as at end-jun 2012 Ph 2: Sold 87% of 1,483 launched units as at end-jun 2012 Sold 89% of 889 launched units as at end-jun

22 Indonesia Higher Prices Achieved for Jakarta Garden City Sold about 100 units in 1H 2012 Achieved sales value of $27.7m for about 23,000 sm* area sold Jakarta Garden City Ph2 well-received with improved infrastructure and amenities Sold 68% of 90 launched units as at end-jun 2012 Achieved average price of Rp 8.5m ($1,150) psm, about 37% higher than Ph 1 Sold 95% of 1,060 launched units as at end-jun 2012 * Refers to land area 22

Indonesia Capitalise on Demand for Grade A Office Space in Jakarta s CBD Commenced construction at International Financial Centre Jakarta Tower 2 International Financial Centre Jakarta Tower 2

23 Indonesia Capitalise on Demand for Grade A Office Space in Jakarta s CBD Commenced construction at International Financial Centre Jakarta Tower 2 International Financial Centre Jakarta Tower 2 48-storey Grade A office tower Large column-free floor plates with green features Location Net Lettable Area Project Details Expected Completion 2015 Along Jalan Jenderal Sudirman in the heart of Jakarta CBD Over 50,000 sm 23

Sri Lanka Foray into Emerging Market To develop a prime residential development in Colombo Keppel Land holds 60% of joint venture To Airport Subject Site Well connected with direct access to CBD

24 Sri Lanka Foray into Emerging Market To develop a prime residential development in Colombo Keppel Land holds 60% of joint venture To Airport Subject Site Well connected with direct access to CBD Majority of units to enjoy unobstructed panoramic sea view Close to amenities such as reputable schools, hospitals, shops and sporting facilities Location Site Area No. of units Site Details Kotahena District About 0.5 ha About 260 apartments 24

Seek further development opportunities Strengthen presence to

25 Myanmar Economic Reforms Bring New Opportunities Strong improvement in occupancy and room rates at Sedona Hotel Yangon Seek further development opportunities Strengthen presence to capitalise on the opening of economy Sedona Hotel, Yangon Sedona Hotel, Mandalay 25

26 Fund Management 26

Fund Management Total AUM* Exceeds $15 billion K-REIT Asia Up from $0.6b $6.3b Alpha Investment Partners Up from $3.1b $8.8b $14.8b $15.1b $11.2b $9.8b $9.8b 8.8 8.

27 Fund Management Total AUM* Exceeds $15 billion K-REIT Asia Up from $0.6b $6.3b Alpha Investment Partners Up from $3.1b $8.8b $14.8b $15.1b $11.2b $9.8b $9.8b $6.1b 7.7 $3.7b H 2012 * When fully leveraged and invested K-REIT Asia Alpha Investment Partners 27

28 K-REIT Asia Maintain Focus on Growing Income Raised stake in OFC from 87.5% to 99.9% Acquired 12.39% interest for a period of 99 years at $261.6m or about $2,380 psf NLA (1) Ocean Financial Centre Tax transparency for MBFC Ph 1 with successful conversion to LLP Higher annual distributable income to unitholders Strong Income growth in 1H 2012 Distribution Income Distribution per unit (DPU) Committed portfolio occupancy 94.6% y-o-y to $98.4m 92% y-o-y to 3.84cts 97% (2) vs 91.6% (3) in core CBD Aggregate Leverage 43.9% as at end-jun 2012 (1) Net of rental support of $24.1m (2) Singapore portfolio occupancy (3) CBRE 28

Alpha Investment Partners Selective Acquisitions and Divestments Alpha Asia Macro Trends Fund II acquired 17 residential units at 8 Napier 8 Napier Strategic divestments by

29 Alpha Investment Partners Selective Acquisitions and Divestments Alpha Asia Macro Trends Fund II acquired 17 residential units at 8 Napier 8 Napier Strategic divestments by funds High-end residential development in Roppongi, Tokyo Various prime retail units in Seoul In process of divesting a retail mall and another two serviced apartments in Hong Kong 29

30 Market Outlook 30

31 Commercial Residential Singapore Sales volume eased consecutively in May and June from a high in April Sold about 1,700 units in May and 1,370 units in June vs 2,500 units in April (1) Private residential prices increased marginally by 0.4% Q-o-Q in 2Q 2012 (1) Prices in CCR increased by 0.6% while OCR decreased by 0.4% Q-o-Q (1) Share of foreign buying decreased to 7% in 1H 2012 from 20% in 2011 (2) Reflecting impact of ABSD and global economic uncertainties (1) URA (2) DTZ Office rental eased amidst resilient demand in 1H 2012 Grade A rents moderated 4.7% Q-o-Q to an average $10.10 psf (3) Take-up of about 1.1m sf in 1H 2012 New Grade A office supply not excessive over the next two years MBFC Tower 3 (about 1.3m sf): About 70% committed as at end-jun 2012 Asia Square Tower 2 (about 780,000 sf ) to TOP in 2013 Singapore office market remains favourable and competitive New occupiers looking to establish and grow their operations in Singapore (3) Singapore Grade A rentals about 40% lower compared with Hong Kong CBD (4) (3) CBRE (4) Jones Lang LaSalle 31

32 Overseas Asian economies on positive growth despite slowdown in the West Demand for residential properties supported by economic growth, urbanisation and rising middle-class Interest rate cuts across China, Vietnam and India to boost housing affordability Country GDP Growth Projection for 2012 (1) Annual Urbanisation Rate (2) Property Market China 7.8% 2.3% Jakarta Garden City Vietnam 5.7% 3.4% India 6.9% 2.4% Indonesia 5.9% 1.7% Pace of price decline slowed with demand propped up by first-time homebuyers and cuts in interest rates 5 th interest rate cut in 2012 may encourage buying demand to return Interest rate cut in April provided some relief to the real estate sector amidst softer sentiments due to economic slowdown and a weak Rupee Housing demand driven by expanding middle-class and relatively low interest rates (1) Economic Intelligence Unit (2) CIA World Fact Book 32

33 Going Forward 33

Going Forward Selectively acquire prime sites with

township, commercial and mixed-use developments Grow

Monitor residential market closely to launch new

34 Going Forward Selectively acquire prime sites with strong marketing attributes for residential, township, commercial and mixed-use developments Grow fee-based income through K-REIT Asia and Alpha Monitor residential market closely to launch new projects and phases Jakarta Garden City The Luxurie The Botanica, Chengdu 34

35 Thank You 35

36 Additional Slides 36

37 Singapore Residential Landbank Project Location KLL s Stake Tenure Attributable Land Area (sf) Attributable GFA (sf) Total Units Remaining Units Caribbean at Keppel Bay Reflections at Keppel Bay Keppel Bay 30% 99-yr 314, , Keppel Bay 30% 99-yr 269, ,527 1, ^ Marina Bay Suites Marina Bay 33.3% 99-yr 19, , The Luxurie Sengkang 100% 99-yr 190, , Keppel Bay Plot 3 Keppel Bay 30% 99-yr 125, , * 367 Keppel Bay Plot 4 Keppel Bay 11.7% 99-yr 35,992 40, * 234 Keppel Bay Plot 6 Keppel Bay 30% 99-yr 141,120 67,813 94* 94 Keppel Towers & GE Tower Tg Pagar Rd / Hoe Chiang Rd 100% Freehold 85, , * 590 Total 1,182,017 2,520,148 4,226 1,686 * Estimated no. of units ^ Exclude 154 units set aside for corporate residences 37

38 China Residential Landbank Site Location KLL's Stake Total Land Area (sm) Total GFA (sm) Remaining Area For Sale (sm) Remaining Units For Sale 8 Park Avenue Shanghai 99% 33, ,393 65, Park Avenue Central Shanghai 99% 28,488 99,708 99, The Springdale Shanghai 99.4% 264, ,792 # 221,732 ^ 1,874 Nanxiang Devt, Jiading District Shanghai 99.9% 71, , ,918 1,036 Central Park City, Taihu New City Wuxi 49.7% 352, ,931 # 277,849 ^ 2,266 Prime Residential Devt, Binhu District Wuxi 100% 215, , ,844 2,500 The Botanica Chengdu 44.05% 419,775 1,049,438 ^ 205,213 ^ 2,143 Park Avenue Heights, Panchenggang Chengdu 100% 50, , ,513 1,555 Hill Crest Villa, Mumashan Chengdu 100% 249, , , Stamford City Jiangyin 99.4% 82, ,083 # 232, The Seasons, Shenbei District Shenyang 100% 348, ,416 # 425,671 ^ 3,635 Township Devt, Hunnan New District Shenyang 99.8% 302, , ,580 7,026 Integrated Marina Lifestyle Devt Zhongshan 80% 857, , ,177 1,647 Serenity Cove (Ph 3) Tianjin 100% 128,685 80,000 79, Mixed Devt Tianjin 100% 1,666,665 1,358,202 1,358,202 11,299 Tianjin Eco-City Tianjin 55% 365, ,798 # 572,307 # 3,721 Waterfront Residential Devt Nantong 100% 172, ,437 # 183,872 # 1,202 Hill Crest Residence Kunming 40% 71,920 20,193 5, La Quinta II Kunming 40% 23,034 10,928 2, Total 5,705,256 7,406,919 5,742,401 42,636 # Includes commercial area ^Excludes commercial area 38

39 Other Overseas Residential Landbank Country Site KLL's stake Total Land Area (sm) Total GFA (sm) Remaining Area for Sale (sm) Remaining Units for Sale India Elita Promenade 51% 96, ,446 4, Elita Horizon 51% 79, , ,376 1,138 Elita Garden Vista 37.74% 99, , , Sub-total 276, , ,670 1,839 Indonesia Jakarta Garden City - Phase 1 51% 266, ,658 5, Jakarta Garden City - Phase 2 (Cluster E) 69,970 23,200 24, Remaining phases 804, , ,471 5,673 Sub-total 1,141,018 1,087, ,588 5,771 Thailand Villa Arcadia at Srinakarin 53.66% 159,706 79,294 59, Villa Arcadia at Watcharapol 71.72% 124,912 68,314 78, Sub-total 284, , , Vietnam Saigon Sports City, HCMC 90% 640, ,180 # 298,878 ^ 2,325 The Estella, HCMC 55% 47, ,851 # 140,991 ^ 920 Riviera Point, Dist. 7, HCMC 38% 89, ,814 # 271,111 ^ 2,216 Waterfront Township, Dong Nai Province 50% 3,667,127 2,046,955 # 1,293,500 ^ 7,850 Prime (Condo), Dist. 2, HCMC 60% 51, , ,464 1,500 Riviera Cove(Villa), Dist. 9, HCMC 60% 97,000 34,711 10, South Rach Chiec, Dist 2, HCMC 42% 302, ,000 # 641,067 ^ 6,699 Riviera Gardens, Dist. 12, HCMC 60% 113,098 40,715 56, Villa Development, Saigon South, HCMC 50% 135,000 67,500 67, Villa Development, Dist 9, HCMC 60% 98,000 42,054 48, Sub-total 5,241,320 4,638,580 2,995,881 22,058 Middle East Al Mada Towers, Jeddah, Saudi Arabia 51% 36, , Sub-total 36, , Philippines SM-KL Residential Devt, Manila 24.2% 12, ,343 * * Sub-total 12, , Total 6,992,626 6,881,707 4,290,932 30,104 # Includes commercial area ^Excludes commercial area *Under planning stage 39

40 China Residential Launches Units to Launch Location Park Avenue* Shanghai Park Avenue Central^ Shanghai The Springdale* Shanghai 248 1, Nanxiang Development, Jiading District ^ Shanghai Central Park City, Taihu New City * Wuxi Prime Residential Devt, Binhu District ^ Wuxi The Botanica* Chengdu 739 1, Park Avenue Heights, Panchenggang ^ Chengdu Hill Crest Villa, Mumashan^ Chengdu Stamford City Ph 2 (Blk 5) * Jiangyin The Seasons, Shenbei District* Shenyang 145 1, Township Devt, Hunnan New District^ Shenyang Integrated Marina Lifestyle Devt ^ Zhongshan Serenity Cove (Ph 3) * Tianjin Tianjin Eco-City (36.6-ha)* Tianjin ,375 Waterfront Residential Devt^ Nantong Spring City Residential Devts* Kunming Total 2,433 7,000 6,887 *Balance units ^New launches 40

41 Other Overseas Residential Launches Location Vietnam Saigon Sports City^ HCMC The Estella (Phase 1), Dist 2* HCMC The Estella (Phase 2), Dist 2^ HCMC Riviera Point, Dist 7* HCMC Waterfront Township^ Dong Nai Prime (Condo), Dist 2^ HCMC Riviera Cove (Villa), Dist 9* HCMC South Rach Chiec, Dist 2^ HCMC Riviera Gardens, Dist 12^ HCMC Villa Development, Saigon South^ HCMC Villa Development, Dist 9^ HCMC Thailand Villa Arcadia at Srinakarin (Phase 1)* Bangkok Villa Arcadia at Srinakarin (Phase 2)^ Bangkok Villa Arcadia at Watcharapol (Phase 1)* Bangkok Villa Arcadia at Watcharapol (Phase 2)^ Bangkok India Elita Promenade* Bangalore Elita Garden Vista* Kolkata Elita Horizon^ Bangalore Indonesia Jakarta Garden City* Jakarta Saudi Arabia Al Mada Towers^ Jeddah Total 608 1,356 3,092 *Balance units ^New launches 41

42 Expected Completion of China Projects Projects/ Phases Total No. of Units Year of Completion Units Sold as at end-jun 2012 Area Sold as at end-jun 2012 (sm) The Botanica, Chengdu Phase 6-R5a 1, ,189 96,674 Central Park City, Wuxi Phase 3-C1a ,665 The Springdale, Shanghai Phase 2 Plot 3-1, 3-2 and 3-3 1, ,196 Seasons Park, Tianjin Eco-City Phase 1 Plot 10 and 7 1, ,491 Spring City, Kunming Hill Crest Residence ,162 The Seasons, Shenyang Phase 1A ,636 42

43 Exp. Completion of Other Overseas Projects Projects/ Phases Total No. of Units Year of Completion Units Sold as at end-jun 2012 Area Sold as at end-jun 2012 (sm) Vietnam The Estella (Phase 1) ,273 Riviera Cove ,436 Riviera Point (Phase 1A) ,640 India Elita Garden Vista (Phase 1) ,481 Indonesia Jakarta Garden City Phase ,975 Phase 2 Cluster E Thailand Villa Arcadia Srinakarin (Phase 1) ,059 Villa Arcadia Watcharapol (Phase 1) ,997 43

44 Geographical Breakdown Asset Distribution (as of End-Jun 2012) India : 1% Others : 3% China : 34% Singapore : 51% Vietnam : 7% Indonesia : 4% 44

45 Singapore Developments to Benefit from New MRT Lines The Luxurie Keppel Bay Proposed redevelopment of KTGE Towers Marina Bay Suites Source: LTA as at 17 April 2012 Sentosa Island 45

46 China Well-Located Commercial Development in Beijing To develop the 2.6ha prime site located at the heart of CBD Expected to attract reputable tenants given its premier business address Site Details Location Gross Floor Area Development Type Chaoyang District (between eastern second and third ring roads) Approx. 100,000sm 3 office towers with retail component Expected Completion

47 China Keppel s 36.6ha site in SUA of Tianjin Eco-city Residential: 4,354 homes (include Seasons Park) Commercial: Seasons City (GFA: 162,000 sm) Shareholding Structure: KLL: 55%; KCL: 45% Project Manager: KLL Entire Development Start-up Area (SUA) Size 30 sq km 4 sq km Development Period years 3-5 years No. of Homes > 100,000 >20,000 Population (approx.) 350,000 85,000 47

48 China Sino-Singapore Tianjin Eco-city Tianjin Eco-City shareholding structure (1) : Keppel Corporation Keppel Land Keppel Integrated Engineering Singbridge Int l S pore 45% 35% 20% 90% 10% Chinese Consortium Singapore Consortium 50% 50% Tianjin Eco-City (JV) Registered Capital : RMB 4 billion (1) Summarised graphical representation and not the legal representation of the shareholding structure 48

7% of Saigon Centre Ph2 divested to Toshin Development Saigon Centre Ph 2 Location Development Type Expected Completion Along

49 Vietnam Saigon Centre Ph 2 Attracts Anchor Tenant Takashimaya to lease 15,000 sm of prime retail space Saigon Centre Ph 2 retail space 30% pre-committed Strategic partnership with Toshin Development 50:50 joint retail management company 22.7% of Saigon Centre Ph2 divested to Toshin Development Saigon Centre Ph 2 Location Development Type Expected Completion Along Le Loi Boulevard (in HCMC s CBD) Grade A office space : About 40,000 sm Retail : About 50,000 sm Serviced apartments : Over 200 units

50 Alpha Investment Partners Funds under Alpha (as at end-jun 2012) Committed Equity % Invested No. of Countries Invested In Asia No. 1 Property Fund $400m 100% 4 Alpha Core Plus Real Estate Fund $720m 100% 3 AIB Alpha Japan Fund $259m 100% 1 Alpha Asia Macro Trends Fund $1.7b 100% 6 Alpha Asia Macro Trends Fund II $607m 14% 2 50

Corporate Awards BCI Asia Awards 2012 Top 10 Developers Awards in Singapore and Vietnam Euromoney Real Estate Awards 2011 Best Developer in Singapore - Overall Best Office Developer in Singapore HR

51 Corporate Awards BCI Asia Awards 2012 Top 10 Developers Awards in Singapore and Vietnam Euromoney Real Estate Awards 2011 Best Developer in Singapore - Overall Best Office Developer in Singapore HR Awards Singapore Human Resources Institute Awards 2012 HR Advocate Award for Corporate Social Responsibility* Leading HR Practices in : Learning and Human Capital Development (Special Mention) Quality Work-life, Physical and Mental Well-being (Special Mention) Strategic HR (Special Mention) Corporate Social Responsibility Compensation and Rewards Management Workplace Safety and Health * Conferred on companies which have won the Leading Practice Award in a given area for three 51

52 Corporate Awards Transparency Awards Singapore Corporate Awards 2012 Gold Award for Best Annual Report Silver Award for Best Managed Board Governance and Transparency Index 2012 Ranked 6 th out of 674 companies assessed IR Magazine South East Asia Awards 2011 Grand Prix for Best Overall Investor Relations for small or mid cap companies 2011 APREA Best Practices Awards Mature Markets - Highly Commended Award Mature Markets - Merit Award (Accounting and Financial Reporting) Mature Markets - Merit Award (Corporate Governance) SIAS Investors Choice Awards 2011 Most Transparent Company (Properties category) Runner up 52

Corporate Awards Product Excellence Awards FIABCI Prix d'excellence Awards 2012

Residential (High Rise) category International Property Awards Asia Pacific

Pacific, Best Office Architecture and Best Office Development in Singapore

Award The Estella : Best Condo Development (Vietnam) FIABCI Singapore Property

Winner in Residential (High Rise) category World Travel Awards 2011 Hotel

53 Corporate Awards Product Excellence Awards FIABCI Prix d'excellence Awards 2012 MBFC Phase 1 : Winner in Office category Marina Bay Residences : Runner up in Residential (High Rise) category International Property Awards Asia Pacific 2012 Ocean Financial Centre : Best Commercial High-rise Development in Asia Pacific, Best Office Architecture and Best Office Development in Singapore South East Asia Property Awards 2011 Ocean Financial Centre : Green Development Award The Estella : Best Condo Development (Vietnam) FIABCI Singapore Property Awards 2011 MBFC Phase 1 : Winner in Office category Marina Bay Residences : Winner in Residential (High Rise) category World Travel Awards 2011 Hotel Sedona Manado named Indonesia s Leading Hotel 2011 Sedona Yangon named Myanmar s Leading Hotel

54 CSR Awards The Sustainability Yearbook 2012 Features the top 15% of 2,500 companies worldwide in sustainability leadership Named the SAM Sector Mover 2012 in the Real Estate sector ACCA Singapore Awards for Sustainability Reporting 2011 Best Sustainability Report Award Dow Jones Sustainability Index (DJSI) 2011 Part of the DJSI World Index and DJSI Asia Pacific Index One of two Singapore companies to be included in DJSI World Index Storebrand Best in Class 2011 Awarded for Environmental, Social and Governance (ESG) and financial performance 54

CSR Awards Global Real Estate Sustainability Benchmark

Global CSR Awards 2011 Ocean Financial Centre (Product

and Environmental Design (LEED) Award OFC is the first

conferred the prestigious award 27 BCA Green Mark Awards

55 CSR Awards Global Real Estate Sustainability Benchmark 2011 Top performer for listed property companies in Asia Global CSR Awards 2011 Ocean Financial Centre (Product Excellence category) - Gold Award Leadership in Energy and Environmental Design (LEED) Award OFC is the first high-rise office building in Southeast Asia to be conferred the prestigious award 27 BCA Green Mark Awards Latest : IFC Jakarta Tower 2 to be awarded Green Mark GoldPLUS in 3Q

56 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. 56

1H 2012 Financial Results

1H 2012 Financial Results 18 July 2012 Scope of Briefing Opening Remarks by Group CEO Financial Performance Operations Review Market Outlook Going Forward 2 Opening Remarks by Group CEO 3 Strong Earnings