2011 Full Year Results Briefing. 24 February 2012

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1 2011 Full Year Results Briefing 24 February

2 KEY FINANCIALS 2011 HIGHLIGHTS PERFORMANCE REVIEW GOING FORWARD Q&A 2

3 UOL GROUP LIMITED KEY FINANCIALS 2011 HIGHLIGHTS GWEE LIAN KHENG GROUP CHIEF EXECUTIVE 3

4 S$m FY 2011 FY 2010 (Restated) % Change Revenue 1, , Profit before fair value and other gains/(losses) Other (losses)/ gains Fair value gains on associated companies investment properties Fair value gains on the Group s investment properties Profit before income tax PATMI The results for 2010 were restated due to the adoption of the INT FRS 115 accounting standards which took effect on 1 January

5 Record revenue of $1.96 billion, 45% higher recognition of revenue from sale of residential projects inclusion of revenue from PARKROYAL Serviced Suites Kuala Lumpur and PARKROYAL Melbourne Airport hotel Profit before fair value and other gains/ (losses) 32% to $727.8m double-digit growth in profit contribution across all business segments lower share of profit from associated companies and higher finance expenses PATMI 12% to $664.2m higher minority interests and higher income tax expense lower fair value gains on investments properties of associated companies 5

6 Earnings per share before fair value and other gains/(losses) FY 2011 FY 2010 (Restated) % Change cents cents +23 Earnings per share cents cents -11 Net tangible asset value per share $6.54 $ Return on equity before fair value and other gains/(losses) 10.6% 9.5% +12 Return on equity 13.1% 16.3% -19 Dividends per share - First and Final 10.0 cents 10.0 cents - - Special 5.0 cents 5.0 cents - The results for 2010 were restated due to the adoption of the INT FRS 115 accounting standards which took effect on 1 January

7 FY 2011 FY 2010 (Restated) % Change Total equity $5,529m $5,048m +10 Cash $297m $313m -5 Net debt $2,029m $1,877m +8 Gearing ratio Average borrowing cost 2.27% 1.99% +14 % Term loan 79% 72% +10 Interest cover (including interest capitalised) 13 Xs 19 Xs - Ave debt maturity (Yr) 1.4 years 1.5 years - The results for 2010 were restated due to the adoption of the INT FRS 115 accounting standards which took effect on 1 January

8 Maturity profile (as at ) $m % Within 1 year 1, years years > 3 years Total Debt 2,

9 A Decade of Growth (Restated) 2011 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 9.5% 4.5% 19.9% 4.2% 10.8% 19.2% 4.3% 10.2% 16.3% 13.1% 3.7 Total Assets ($m) 3, , , , , , , , , , Net tangible asset value per share ($) Earnings per share (cents) Market Capitalisation ($m) , , , , , , , , , Dividend Yield (%) n.m The results for 2010 were restated due to the adoption of the INT FRS 115 accounting standards which took effect on 1 January

10 Subdued economic growth in Singapore and the region amidst eurozone uncertainty Government cooling measures including additional stamp duty, increase in housing supply, and tighter immigration rules to dampen demand Low interest rates, high liquidity environment and Singapore status as a safe haven to mitigate downside risks 10

11 UOL GROUP LIMITED PERFORMANCE REVIEW GOING FORWARD LIAM WEE SIN PRESIDENT (PROPERTY) 11

Residential Developments Property Development Wholly-owned projects Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Investments Joint-venture properties

12 Residential Developments Property Development Wholly-owned projects Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Investments Joint-venture properties UNITED INDUSTRIAL CORPORATION LIMITED (43%) MARINA CENTRE HOLDINGS PTE LTD (23%) Hotel Investments UOL GROUP LIMITED Hotel Operations PAN PACIFIC HOTELS GROUP LIMITED (82%) Wholly-owned hotels Joint-venture hotel Owned hotels AQUAMARINA HOTEL PRIVATE LIMITED (25%) Management Services Project Management Facilities Management Hotel and Other Management Investments Investments in Securities BOLD are listed companies 12

13 ($m) Revenue by Business Segments 2011 vs 2010 (Restated) +67% 1, % FY % % +19% FY 2010 Property development Property investments Hotel operations Management services Investments 13

14 ($m) Revenue Contribution by Business Segments 2011 vs 2010 (Restated) FY2011 FY2010 Hotel operations 19% Management services 1% Investments 1% Hotel operations 24% Management services Investments 1% 2% Property investments 8% Property investments 11% Property development 62% Property development 71% 14

($m) Operating Profit by Business Segments 2011 vs 2010 (Restated) +151% 404.8 161.3 +14% 112.6 99.2 +16% 59.5 51.5 +157% 8.

15 ($m) Operating Profit by Business Segments 2011 vs 2010 (Restated) +151% % % % % FY 2011 FY 2010 Property development Property investments Hotel operations Management services Investments 15

Investments 4% operations 10% Property development 66% Management services

16 ($m) Operating Profit Contribution by Business Segments 2011 vs 2010 (Restated) FY2011 FY2010 Property investments 19% Management services Hotel 1% Investments 4% operations 10% Property development 66% Management services Hotel 1% operations 15% Property investments 29% Investments 7% Property development 48% 16

3m 88 4 7 1 Singapore Australia Malaysia FY2010: S$780.

17 Revenue (%) FY2011: S$1,960.2m FY2010: S$1,349.1m Adjusted EBITDA* FY2011: S$830.3m Singapore Australia Malaysia FY2010: S$780.9m China Others *Excludes unallocated cost, other gains/losses and fair value gains/losses on investment properties Total Asset Value FY2011: S$8,524.4m FY2010: S$7,904.0m 17

Park Near upcoming Bedok North Downtown Line MRT Station (est.

18 New launch in 2011 Archipelago Located along Bedok Reservoir Road 553 condo units and 24 3-storey strata houses Nestled within lush greenery of the Bedok Reservoir Park Near upcoming Bedok North Downtown Line MRT Station (est. completion 2017) Average price of $1,000 psf achieved for the 160 units sold (as at 24 Feb 2012) 18

Sale of 164 residential units and sales value of $311

11) Average psf Archipelago Dec 2011 577 16 S$980

Park Residences Jun 2008 100 100 S$3,070 Panorama Apr

S$1,787 Archipelago Nassim Park Residences Spottiswoode

19 Sale of 164 residential units and sales value of $311 million Launched No. of Units %Sold* (as at ) Average psf Archipelago Dec S$980 Spottiswoode Residences Nov S$1,920 Nassim Park Residences Jun S$3,070 Panorama Apr RM1,005 Duchess Residences Jun S$1,787 Archipelago Nassim Park Residences Spottiswoode Residences Panorama * Based on sales and purchase agreement signed. 19

20 Profit recognition of launched projects Project Name % Equity Stake No. of Units Saleable Area (sq m) % Sold (as at ) % Complete (as at ) Est. TOP Date Duchess Residences , TOP 1Q2011 Breeze by the East , TOP 1Q2011 Nassim Park Residences , TOP 1Q2011 Panorama , TOP 2Q2011 Meadows@Peirce , Q2012 Double Bay Residences , Q2012 Waterbank at Dakota , Q2013 Terrene at Bukit Timah , Q2013 Spottiswoode Residences , Q2013 Archipelago , Q

Avenue Breeze by the East 88-unit condominium

Residences 100-unit luxury condominium at

condominium at Persiaran Hampshire, Kuala

21 Four residential TOPs in 2011 Duchess Residences 120-unit condominium at Duchess Avenue Breeze by the East 88-unit condominium along Upper East Coast Road Nassim Park Residences 100-unit luxury condominium at Nassim Road Panorama, Kuala Lumpur 223-unit condominium at Persiaran Hampshire, Kuala Lumpur Duchess Residences Breeze by the East Nassim Park Residences Panorama 21

22 Over 1,000 residential units in Singapore pipeline Project Name/Location Tenure of Land Site Area (sq m) Est. Saleable Area (sq m) Est. No. of Units % Owned Lion City site FH 13,740 19, Archipelago 99 46,623 71, St Patrick s Garden site FH 12,780 19, Total 73, ,438 1,001 22

LION CITY HOTEL SITE Lion City site and adjoining site in Jan 2011 Freehold site of area 13,740 sq m Near Paya Lebar MRT Interchange 244 condo units integrated with 19,519 sqm

23 LION CITY HOTEL SITE Lion City site and adjoining site in Jan 2011 Freehold site of area 13,740 sq m Near Paya Lebar MRT Interchange 244 condo units integrated with 19,519 sqm retail mall 100% stake Condo units targeted to launch in 2Q 2012 Children-themed mall similar to United Square Good catchment within the 1-2km radius Target to complete in

Bedok Reservoir Road site (now known as Archipelago) in March 2011 Site area 46,623 sq m, plot ratio 1.

24 Bedok Reservoir Road site (now known as Archipelago) in March 2011 Site area 46,623 sq m, plot ratio condo units and 24 3-storey strata houses Nestled within lush greenery of the Bedok Reservoir Park Near Bedok North Downtown Line MRT Station (est. completion 2017) 50% stake 24

25 Site at St Patrick s Garden Pending image/map St Patrick s Garden site in December 2011 Site area 12,780 sq m, plot ratio 1.4. Along Upper East Coast Road Freehold Approximately 180 units 100% stake 25

of Units % Owned 39,540 77,800 400 40 22,895 54,511 522 90 KL (Jalan Conlay) 15,986 76,263 494 60 Total 78,421 208,574 1,416 ** Mixed

26 Over 1,000 residential units in overseas pipeline Project Name/Location Shanghai (Changfeng) **Mixed development The Esplanade, Tianjin *Mixed development Site Area (sq m) Est. Saleable Area (sq m) Est. No. of Units % Owned 39,540 77, ,895 54, KL (Jalan Conlay) 15,986 76, Total 78, ,574 1,416 ** Mixed development of 77,800 sqm residential units and 8,000 sqm retail space. *Mixed development consisting of 522 apartments, a 334-room hotel, 17,510 sq m of office and 10,920 sq m of retail space. The Esplanade, Tianjin Jalan Conlay 26

27 Tianjin, The Esplanade Mixed development of 552 apartments, a 330-room hotel, 17,510 sqm office and 10,920 sqm retail space Condo units targeted to launch in 2Q 2012 PAN PACIFIC Tianjin hotel set to open in 2013 Target to complete in

Renowned Architect for Changfeng project Renowned architect Richard Rogers of Rogers Stirk Harbour + Partners (RSHP) to design the Changfeng project Mixed development of 400 residential apartments

28 Renowned Architect for Changfeng project Renowned architect Richard Rogers of Rogers Stirk Harbour + Partners (RSHP) to design the Changfeng project Mixed development of 400 residential apartments and 8,000 sqm retail space Design creates a network of landscaped spaces that connect the site with neighbouring streets and the surrounding green areas Target to launch in 2H 2013 upon completion of superstructure 28

29 Office properties Net Lettable Area/ *GFA (sq m) Portfolio Novena Square 41,503 United Square 24,849 Odeon Towers 18,402 Faber House 3,956 SubTotal 88,710 Pipeline Upper Pickering Office 8,088 The Esplanade, Tianjin (Hai He) Office component of mixed development Retail properties 17,726 Total 114,524 Portfolio Novena Square shopping mall 15,969 United Square shopping mall 18,822 SubTotal 34,791 Pipeline Site at Lion City Hotel 19,519 Retail component of mixed development Shanghai (Changfeng) 8,000* Retail component of mixed development The Esplanade, Tianjin (Hai He) 10,215 Retail component of mixed development Total 72,525 Grand Total 187,049 29

30 Owned Serviced Suites Properties Rooms Portfolio PAN PACIFIC Serviced Suites Singapore (Orchard) 126 PARKROYAL Serviced Suites Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 SubTotal 503 Pipeline PAN PACIFIC Serviced Suites project Singapore 180 Total

31 Tenancy Management Offices % Change in Overall Average Rent FY11 vs FY10 Lease Renewal Lease Expiry in 2012 (sq m) NLA %* Novena Square +2 5, United Square -8 7, Odeon Towers -6 4, Faber House Shopping Malls Subtotal -3 17, Novena Square +9 6, United Square +6 8, * Percentage of NLA for each property. Subtotal +8 14,

32 Above 90% occupancy for all commercial properties NLA 41,503 24,849 18,402 3,956 15,969 18,822 (sq m) 32

Commercial Tenant Mix Office space (%) Retail space (%) 9 12 17 8 7 10 37 15 13 9 6 11 17 29 Consumer Goods Property, Construction & Transportation Banking, Insurance and Financial Services Energy,

33 Commercial Tenant Mix Office space (%) Retail space (%) Consumer Goods Property, Construction & Transportation Banking, Insurance and Financial Services Energy, Resources and Engineering Electronics, IT, Telco Institutions Others Food & Beverage Health, Beauty, Wellness & Fitness Sports & Fashion Education Supermarket Children's Fashion, Toys & Maternity Others 33

CORPORATE AWARDS UOL Group Limited Singapore Corporate Governance Award (Most Improved Award)

RESIDENTIAL PROJECTS Nassim Park Residences South East Asia Property Awards Best Condo

(Singapore) Duchess Residences FIABCI Singapore Property Awards - Residential (Low rise)

34 CORPORATE AWARDS UOL Group Limited Singapore Corporate Governance Award (Most Improved Award) BCI Asia Top 10 Developer Awards Davey Awards (Annual Report Category, Silver Winner) RESIDENTIAL PROJECTS Nassim Park Residences South East Asia Property Awards Best Condo Development (South East Asia) South East Asia Property Awards Best Condo Development (Singapore) Duchess Residences FIABCI Singapore Property Awards - Residential (Low rise) category Terrene at Bukit Timah BCA Green Mark GoldPlus Award Nassim Park Residences Duchess Residences Terrene at Bukit Timah 34

RESIDENTIAL PROJECTS (con t) Pavilion 11, Singapore BCA

SHOPPING MALL United Square 'We Welcome Families' Achiever

PARKROYAL on Pickering and Office block BCA Green Mark

35 RESIDENTIAL PROJECTS (con t) Pavilion 11, Singapore BCA Construction Excellence Award (Residential Buildings) RETAIL SHOPPING MALL United Square 'We Welcome Families' Achiever Award by Businesses for Families Council HOTEL PROPERTIES PARKROYAL on Pickering and Office block BCA Green Mark Platinum Award Solar Pioneer Award Pavilion 11 United Square PARKROYAL on Pickering 35

36 UOL increases stake in UIC from 42.02% to 42.86% in 2011 UOL is the largest shareholder of UIC Proxy play on Singapore s office market and exposure to quality commercial properties Share of operating profits of associated companies remain significant $165.9 million vs $247.8 million in FY 2010 excluding fair value gain - Reduced contribution from Nassim Park Residences following its TOP in 1Q

37 GOING FORWARD 37

38 Subdued growth for 2012 amidst global economic uncertainties and government cooling measures Healthy capital position and diversified portfolio to ride out market volatility Selectively replenish landbank in Singapore Measured approach in geographical expansion Optimise and improve yield for investment properties Build on management strength and our niche and innovative product track record 38

39 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. 39

40 THANK YOU 40

41 Q&A 41

2012 Full Year Results Briefing. 28 February 2013

2012 Full Year Results Briefing 28 February 2013 1 KEY FINANCIALS & STRATEGY BUSINESS REVIEW OUTLOOK Q&A 2 UOL GROUP LIMITED KEY FINANCIALS & STRATEGY GWEE LIAN KHENG GROUP CHIEF EXECUTIVE 3 S$m FY 2012