Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Shareholder Meeting (April 2024)
16 slides from Keppel Infrastructure Trust's shareholder meeting presentation, Apr 23, 2024
Slide 1: Extraordinary General Meeting
Extraordinary General Meeting 23 April 2024
Slide 2: Proposed Acquisition of Ventura
Proposed Acquisition of Ventura Ventura
Slide 3: Ventura: A Leading Bus Operator and Essential Infrastructure and Public Service
Ventura: A Leading Bus Operator and Essential Infrastructure and Public Service Essential service that supports Melbourne’s population growth ▪ KIT to acquire approx. 98.6%1 interest in Ventura Motors Pty Ltd (Ventura), the largest bus operator in Victoria ▪ Accretive acquisition: FY2023 DPU to incr
Slide 4: Ventura: A Century of Service History
Ventura: A Century of Service History Victoria’s largest bus operator, providing essential transport services in Melbourne 100 years ~900 bus fleet ~37% A$290m3 Operations (since 1924) including 27 ZEBs1 Market share2 FY2023 revenue >42m p.a. 12 depots ~100% A$84m3 Passengers transported Serving ~53
Slide 5: Defensive cash flows with cost indexation and capital reimbursement
Defensive cash flows with cost indexation and capital reimbursement > 80% of revenues derived from long-term inflation-protected government contracts with no farebox risk Government Private Mass Transit Public Schools Private Charter Private Schools High frequency services Bus services contracted to
Slide 6: Rationale for the Acquisition
Rationale for the Acquisition 1 2 3 4 5 6 Largest bus operator in Defensive cash Accretive Attractive Platform of Electrification Victoria and a flows with cost acquisition that market with scale to capture thematic core pillar of indexation and strengthens favourable growth supporting KIT’s Melbour
Slide 7: 1. Largest Bus Operator in Victoria with best-in-class performance
1. Largest Bus Operator in Victoria with best-in-class performance Core pillar of Melbourne’s transportation landscape ▪ Largest share of commuter bus services market in Victoria ▪ Fast-growing private bus charterer in Victoria, serving numerous schools and supporting tourism and general charter ▪ C
Slide 8: 2. Attractive Market with Favourable Tailwinds
2. Attractive Market with Favourable Tailwinds Buses: An essential transport link between Melbourne’s fastest growing regions Melbourne Key Growth Drivers A Residential development Continuing growth in mass-transit bus service kilometres is expected to be driven by residential developments in outer
Slide 9: 3. Defensive Cash Flows with Cost Indexation and Capital Reimbursement
3. Defensive Cash Flows with Cost Indexation and Capital Reimbursement Majority of revenues derived from long-term, inflation-protected government contracts ▪ Fixed payments; inflation-protected > 80% of revenues − No farebox and patronage risk from MBSCs1 − Stable revenue based on service delivery
Slide 10: 4. Platform of Scale to Capture Growth Opportunities
4. Platform of Scale to Capture Growth Opportunities Accelerate growth within existing business and adjacent verticals Capture upsides within key regions Leveraging technology for vertical and horizontal growth 1 Increase service kilometres 3 Grow new revenue streams Differentiating on technology 4
Slide 11: 5. Electrification Thematic Supporting KIT's ESG Targets
5. Electrification Thematic Supporting KIT's ESG Targets Ventura is the first mover for energy transition in Victoria’s public transportation sector KIT’s carbon emissions intensity Carbon emissions (‘000tCO2) / Distributable Income (S$m) Owns and operates Victoria’s first fully electric bus depot 9
Slide 12: 6. Accretive Acquisition that Strengthens Portfolio Resiliency
6. Accretive Acquisition that Strengthens Portfolio Resiliency Pro forma DPU to increase by 3.4%2 Funds from Operations (“FFO”)2 Enlarged Portfolio: AUM to grow by 7% to S$8.7b1 post-acquisition 6.1% From S$287.9m3,4 in FY 2023 to S$305.6m6 By Business and Assets Assets under Management (“AUM”) By G
Slide 13: KMC CTA Extension and Capital Restructuring
KMC CTA Extension and Capital Restructuring Keppel Merlimau Cogen Plant
Slide 14: Overview
Overview Keppel Merlimau Cogen Plant ▪ Located on Jurong Island, and connected to Singapore’s electricity transmission network, the KMC plant is well positioned to support the surrounding industries with their electricity, steam supply and demineralised water requirements ▪ Under the terms of the CT
Slide 15: KMC CTA Extension and Capital Restructuring
KMC CTA Extension and Capital Restructuring Allow KMC to resume Distributable Income contributions to KIT Extension of CTA and OMSA by 10 years Resume Distributable Income ✓ KMC continues to receive Capacity Fees of up to S$108m p.a. from contributions to KIT 2030 to 20401 ✓ Extension of OMSA ensure
Slide 16: Thank You
Thank You www.kepinfratrust.com Connect with us on: Borkum Riffgrund 2
Keppel Infrastructure Trust — Shareholder Meeting (April 2024) on 6ix