2012 Full Year Results Briefing. 28 February 2013

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1 2012 Full Year Results Briefing 28 February

2 KEY FINANCIALS & STRATEGY BUSINESS REVIEW OUTLOOK Q&A 2

3 UOL GROUP LIMITED KEY FINANCIALS & STRATEGY GWEE LIAN KHENG GROUP CHIEF EXECUTIVE 3

4 S$m FY 2012 FY 2011 (Restated) % Change Revenue 1, , Profit before fair value and other gains/(losses) Other (losses) Fair value gains on associated companies investment properties Fair value gains on the Group s investment properties Profit before income tax PATMI The financials for 2011 were restated due to the adoption of the Amendments to FRS 12 Deferred Tax: Recovery of Underlying Assets, which took effect on 1 January

5 Earnings per share before fair value and other gains/(losses) FY 2012 FY 2011 (Restated) % Change 47.0 cents 69.5 cents -32 Earnings per share cents 88.1 cents +19 Net tangible asset value per share $7.94 $ Return on equity before fair value and other gains/(losses) 5.88% 10.13% -42 Return on equity 13.15% 12.84% +2 Dividends per share - First and Final 15.0 cents 10.0 cents - - Special cents - Earnings per share, net asset value and return on equity improved in

6 Capital Management FY 2012 FY 2011 (Restated) % Change Total equity $6,719m $5,771m +16 Cash $260m $297m -13 Net debt $1,914m $2,029m -6 Gearing ratio Average borrowing cost 2.23% 2.27% -2 Term loan 79% 79% - Interest cover (including interest capitalised) 10 Xs 13 Xs - Ave debt maturity (Yr) 1.7 years 1.4 years - Gearing improved to 0.28 from

7 Debt Maturity Profile (as at ) (as at ) $m % $m % Within 1 year , years years > 3 years Total Debt 2, , Percentage of debt above 2 years improved to 43% from 37%. 7

8 A Decade of Growth (Restated) 2012 CAGR % Revenue ($m) , , , , Profit before fair value and other gains/(losses) ($m) Profit before income tax ($m) PATMI ($m) Gearing Ratio n.m Return on Equity 4.5% 19.9% 4.2% 10.8% 19.2% 4.3% 10.2% 16.3% 12.8% 13.1% 12.7 Total Assets ($m) 3, , , , , , , , , , Net tangible asset value per share ($) Earnings per share (cents) Market Capitalisation ($m) , , , , , , , , , , Dividend Yield (%) n.m Share price ($) as at close of the year

9 Deployed more capital into investment properties and hospitality assets in the last few years Committed nearly $1 billion in recurrent income projects in Singapore: - One Upper Pickering 13-storey office building fully leased for 30 years - PARKROYAL on Pickering 367 rooms; opened in January Pan Pacific Serviced Suites Beach Road 180 rooms; target to open in 2Q OneKM 19,519 sqm retail mall; target to open in

10 UOL GROUP LIMITED BUSINESS REVIEW OUTLOOK LIAM WEE SIN PRESIDENT (PROPERTY) 10

Property development 49% Management services 3% Hotel operations 17%

11 ($m) Revenue and Operating Profit by Business Segments in 2012 Revenue Operating Profit Hotel operations 33% Management services 2% Investments 2% Property development 49% Management services 3% Hotel operations 17% Investments 6% Property development 41% Property investments 14% Property investments 33% 11

12 ($m) Revenue by Business Segments 2012 vs , % % FY % % -12% FY Property development Property investments Hotel operations Management services Investments 12

13 ($m) Operating Profit by Business Segments 2012 vs % % % % % FY 2012 FY 2011 Property development Property investments Hotel operations Management services Investments 13

(%) Revenue Geographical Spread FY2012: S$1,145.8m 75 12 5 3 5 FY2011: S$1,960.2m 81 7 8 22 Adjusted EBITDA* FY2012: S$630.2m 88 5 3 4 Singapore Australia Malaysia FY2011: S$829.

14 (%) Revenue Geographical Spread FY2012: S$1,145.8m FY2011: S$1,960.2m Adjusted EBITDA* FY2012: S$630.2m Singapore Australia Malaysia FY2011: S$829.9m China Others *Excludes unallocated cost, other gains/losses and fair value gains/losses on investment properties Total Asset Value FY2012: S$9,564.3m FY2011: S$8,697.6m

Sold 938 residential units with sales value of more than $1 billion

Launched No. of Units (Whole Project) %Sold* (as at 31.12.

Dec 2011 577 100 S$987 Spottiswoode Residences Nov 2010 351 96

(Blocks 3 and 4) Jun 2012 320 59 RMB1,588 Katong Regency Archipelago

15 Sold 938 residential units with sales value of more than $1 billion in 2012 Launched No. of Units (Whole Project) %Sold* (as at ) Average psf Katong Regency Apr S$1,605 Archipelago Dec S$987 Spottiswoode Residences Nov S$1,925 Panorama Apr RM1,004 The Esplanade, Tianjin # (Blocks 3 and 4) Jun RMB1,588 Katong Regency Archipelago Spottiswoode Residences Panorama * Based on cumulative sales and purchase agreement signed. # Revenue to be recognised upon completion of project. 15

16 Katong Regency Integrated development comprising OneKM retail mall and 244 residential units 100% stake Residential units FULLY SOLD 16

17 Archipelago 577-unit condominium located along Bedok Reservoir Road 50% stake FULLY SOLD 17

The Esplanade, Tianjin Mixed development, along HaiHe River, comprising four blocks of 522 apartments, a 330-room hotel, 17,075 sqm office and 6,164 sqm

18 The Esplanade, Tianjin Mixed development, along HaiHe River, comprising four blocks of 522 apartments, a 330-room hotel, 17,075 sqm office and 6,164 sqm retail space 90% stake Launched two blocks of 320 residential units; 59% sold Launched one office tower; 11% sold Pan Pacific Tianjin hotel set to open in

19 Profit recognition of launched projects Project Name % Equity Stake No. of Units Saleable Area (sq m) % Sold (as at ) % Complete (as at ) TOP Date Panorama , Meadows@Peirce , Double Bay Residences , Terrene at Bukit Timah , Est. 1Q2013 Waterbank at Dakota , Est. 2Q2013 Spottiswoode Residences , Est. 4Q2013 Archipelago , Est. 4Q2014 Katong Regency , Est. 1Q

20 Singapore residential pipeline Project Name/Location Tenure of Land Site Area (sq m) Est. Saleable Area (sq m) Est. No. % of Units Owned Target Launch St Patrick s Garden site FH 12,950 19, Q2013 Bright Hill Drive site 99 13,437 39, Q2013 Total 26,387 59, Overseas residential pipeline Project Name/Location Site Area (sq m) Est. Saleable Area (sq m) Est. No. % of Units Owned Target Launch The Esplanade, Tianjin (Blocks 1 & 2) 22,895 22, Q2013 KL (Jalan Conlay) 15,993 60, Q2013 Shanghai (Changfeng)** 39,540 77, Total 78, ,068 1,342 ** Mixed development of 77,800 sqm residential units and 8,000 sqm retail space. 20

21 Office properties Net Lettable Area/ GFA (sqm) Portfolio Novena Square 41,509 United Square 24,711 Odeon Towers 18,402 Faber House 3,956 One Upper Pickering 8,089 Total 96,667 Retail properties Portfolio Novena Square shopping mall 15,972 United Square shopping mall 19,392 Sub Total 35,364 Pipeline OneKM 19,519 Shanghai (Changfeng) 8,000 Retail component of mixed development The Esplanade Mall, Tianjin 6,164 Total 69,047 Grand Total 165,714 21

22 OneKM 19,519 sqm mall offering lifestyle, edutainment and gastronomy 100% stake 50% of leases committed Target to open in

Above 95% occupancy for all commercial properties YTD 31.12.

23 Above 95% occupancy for all commercial properties YTD Novena Square office United Square office Odeon Towers office Faber House office One Upper Pickering Novena Square Shopping Mall United Square Shopping Mall NLA 41,509 24,711 18,402 3,956 8,089 15,972 19,392 (sq m) 23

24 Tenancy Management Offices % Change in Overall Average Rent FY12 vs FY11 Lease Renewal Lease Expiry in 2013 (sq m) NLA %* Novena Square , United Square , Odeon Towers , Faber House , Shopping Malls Subtotal , Novena Square +7 5, United Square +14 6, * Percentage of NLA for each property. Subtotal ,

25 Owned Serviced Suites Properties Rooms Portfolio PAN PACIFIC Serviced Suites Orchard, Singapore 126 PARKROYAL Serviced Suites Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 SubTotal 503 Pipeline PAN PACIFIC Serviced Suites Beach Road, Singapore (Opening in 2Q2013) 180 Total

Institute of Architects Architectural Design Awards (Honourable Mention) Duchess Residences MIPIM Asia Awards (Best

26 CORPORATE AWARDS UOL Group Limited South East Asia Property Awards Best Developer (South East Asia) South East Asia Property Awards Best Developer (Singapore) BCI Asia Top 10 Developer Awards RESIDENTIAL PROJECTS Nassim Park Residences Singapore Institute of Architects Architectural Design Awards (Honourable Mention) Duchess Residences MIPIM Asia Awards (Best Residential Development Silver) HOTEL PROPERTIES PARKROYAL on Pickering BCA Green Mark Platinum Award Duchess Residences Terrene at Bukit Timah 26

27 OUTLOOK 27

28 Prolonged low interest rate and high liquidity continues to support the property market amidst economic uncertainties Recent cooling measures and latest tax changes expected to dampen overall demand and moderate prices Significant pipeline supply expected to put pressure on the office sector Retail rents expected to come under pressure as retailers curtail expansion plans due to labour shortage Remain cautious and selective in replenishing our landbank Continue to strengthen our recurrent income portfolio 28

29 This presentation may contain forward-looking statements or financial information. Such forward-looking statements and financial information may involve known and unknown risks, uncertainties, assumptions and other factors which may cause the actual results, performance or achievements of UOL Group Limited, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and financial information. Such forward-looking statements and financial information are based on assumptions including (without limitation) UOL Group Limited s present and future business strategies, general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies, shifts in customer demands, customers and partners, changes in operating expenses (including employee wages, benefits and training), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business activities. You are advised not to place undue reliance on these forward-looking statements and financial information, which are based on UOL Group Limited s current views concerning future events. UOL Group Limited expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements or financial information contained in this presentation to reflect any change in UOL Group Limited s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the SGX-ST and/or any other regulatory or supervisory body. This presentation may include market and industry data and forecasts. You are again advised that there can be no assurance as to the accuracy or completeness of such included information. While UOL Group Limited has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, UOL Group Limited has not independently verified any of the data or ascertained the underlying assumptions relied upon therein. 29

30 THANK YOU 30

31 Q&A 31

Investor Meeting Presentation. 4 June 2014

Investor Meeting Presentation. 4 June 2014 Investor Meeting Presentation 4 June 2014 COMPANY OVERVIEW 1Q2014 RESULTS OVERVIEW OPERATION HIGHLIGHTS Q&A 2 Founded in 1963, listed on the Singapore Exchange in 1964 Three core businesses: - Property