Slide 1: FY2016 Full Year Results Briefing
FY2016 Full Year Results Briefing 24 February 2017
Slide 2: UOL Group Limited agenda
UOL GROUP LIMITED • KEY FINANCIALS • OUTLOOK LIAM WEE SIN, DEPUTY GROUP CHIEF EXECUTIVE OFFICER (UOL) WELLINGTON FOO, CHIEF FINANCIAL OFFICER (UOL) NEO SOON HUP, CHIEF FINANCIAL OFFICER (PPHG) 2
Slide 3: UOL Group business structure
Residential Developments Property Wholly-owned projects Development Joint-venture projects Commercial Properties/Serviced Suites Wholly-owned properties Property Joint-venture properties Investments *United Industrial Corporation Limited (UIC) (45%) Marina Centre Holdings Pte Ltd (23%) Hotel Investm
Slide 4: Sold 484 residential units in Singapore
• Sold 484 residential units in Singapore with sales value of more than $558 million in 2016 based on bookings Launched No. of Units %Sold* Average psf (Whole Project) (as at 31.12.16) Seventy Saint Patrick’s Sep 2014 186 100 $1,610 Thomson Three Sep 2013 445 99.8 $1,306 Riverbank@Fernvale Feb 2014
Slide 5: Profit recognition of launched projects
Profit recognition of launched projects Project Name % No. of Saleable % Sold % TOP Date Equity Units Area (as at 31.12.16) Completed Stake (sqm) (as at 31.12.16) Completed Seventy Saint Patrick’s 100 186 12,950 100 100 TOP Thomson Three 50 445 39,965 99.8 100 TOP Ongoing Riverbank@Fernvale 100 555
Slide 6: Singapore and overseas residential pipeline
Singapore residential pipeline Project Name/Location Tenure Site Area Est. Est. No. % Target of Land (sqm) Saleable of Units Owned Launch Area (sqm) The Clement Canopy 99 13,038 44,949 505 50 1Q2017 Potong Pasir Ave 1 site 99 18,711 51,605 750 50 2018 45 Amber Road site Freehold 6,490 13,370 165 100
Slide 7: Exercised option to purchase 45 Amber Road
Exercised option in February 2017 to purchase 45 Amber Road • Freehold residential site in District 15 • Site area of 6,490 sqm; estimated 165-unit project • 100% stake • Close to upcoming Marine Parade and Tanjong Katong MRT stations • Target to launch in 2018 Image source: The Straits Times 7
Slide 8: En-bloc purchase at Potong Pasir Ave 1
En-bloc purchase of residential site at Potong Pasir Ave 1 • En-bloc tender of former HUDC estate, Raintree Gardens in October 2016 • Site area of 18,711 sqm; estimated 750-unit project • 50:50 joint venture with UIC • Next to Kallang River and near Potong Pasir MRT station • Target to launch in 201
Slide 9: The Clement Canopy
The Clement Canopy • 99-year leasehold site of 13,038 sqm • 505-unit development in Clementi and near Jurong, which is Singapore’s second CBD • In close proximity to reputable schools • 50:50 joint venture with UIC • To be launched on 25 Feb 2017 9
Slide 10: Principal Garden
Principal Garden • 99-year leasehold site at Prince Charles Crescent • 663-unit development near Redhill MRT station • 70:30 joint venture with Kheng Leong • 49.2% sold as at 31 Dec 2016 10
Slide 11: Botanique at Bartley
Botanique at Bartley • 99-year leasehold site along Upper Paya Lebar Road • 797-unit condominium near Bartley MRT station • 100% stake • 97.9% sold as at 31 Dec 2016 11
Slide 12: Riverbank@Fernvale
Riverbank@Fernvale • In Sengkang West Way, near Layar LRT, Punggol Reservoir and Seletar Aerospace Park • A 555-unit, four 19-storey blocks project • 100% stake • First-of-its-kind bicycle-sharing facility for residents • 85.0% sold as at 31 Dec 2016 12
Slide 13: Park Eleven, Shanghai
Park Eleven, Shanghai • Mixed development located within the Changfeng Ecological Business Park, about 5 km to the north-east of the Hongqiao Transportation Hub and less than 10 km from The Bund • 398 residential units and 4,000 sqm of net lettable area of retail • 40:30:30 joint venture between UOL
Slide 14: Site at Bishopsgate, London
Site at Bishopsgate, London • UOL’s first investment in UK • Freehold land of 3,200 sqm • In London’s central financial district, near Liverpool Street Station and the future Crossrail Station • Approved for a 43-storey tower with residential, hotel and retail components • Approved to intensify to 1
Slide 15: Holborn Island, London
Holborn Island, London • Acquired in November 2016 • 9-storey freehold mixed-use building of 32,431 sqm of net lettable area: (i) Office: 18,323 sqm (56.5%) (ii) Retail: 14,108 sqm (43.5%) • Located in London’s Midtown; close to tube stations and the upcoming Crossrail • 50:50 joint venture with UIC
Slide 16: 110 High Holborn, London
110 High Holborn, London • Acquired in June 2016 • Freehold asset of 10,873 sqm located in London’s Midtown, near Holborn underground station • Comprises offices together with retail space arranged over basement, ground and eight upper floors • 100% stake 16
Slide 17: Office properties and Retail properties
Office properties Net Lettable Area (sqm) Portfolio Novena Square 41,372 United Square 26,874 Odeon Towers 18,364 Faber House 3,956 One Upper Pickering 8,089 110 High Holborn, London 10,873 Total 109,528 Retail properties Portfolio Novena Square shopping mall 15,987 United Square shopping mall 19,50
Slide 18: Above 90% occupancy for almost all commercial properties
Achieved above 90% occupancy for almost all commercial properties in Singapore NLA 41,372 26,874 18,364 3,956 8,089 15,987 19,507 19,112 (sqm) 18
Slide 19: Tenancy Management
Tenancy Management Lease Renewal % Change in Lease Expiry in 2017 Overall (sqm) Average Rent NLA %* FY16 vs FY15 Offices Novena Square +4.7 4,887 12 United Square - 7,795 32 Odeon Towers +5.3 2,839 16 Faber House +0.6 2,374 60 Total +3.0 17,895 20 Shopping Malls Novena Square +7.0 37,488 22 United S
Slide 20: Commercial Tenant Mix: Office
PROPERTY INVESTMENTS eee Commercial Tenant Mix (%) Office Property, Construction & Education & Others Transportation Training 7% 5% Consumer 5% \ / Goods N / 1% Banking, Insurance & —— Financial Embassies/ ____ Services Government 9% is Electronics, IT, Telco 6% ~~ | Energy, Pharmaceutica Resources
Slide 21: Commercial Tenant Mix: Retail
PROPERTY INVESTMENTS eee Commercial Tenant Mix (%) Retail Food & \ Beverage 31% a Supermarket 10% Sports & Fashion —— 13% \ 4 \ Health & Education Children Beauty 6% 14% 21
Slide 22: Group owns and/or manages over 30 hotels
• The Group owns and/or manages over 30 hotels in Asia, Oceania and North America with close to 10,000 rooms in its portfolio. • Comprises two highly-acclaimed brands: 22
Slide 23: Existing and pipeline hotels by brand
Existing Pipeline No. of Hotels No. of Rooms No. of Hotels No. of Rooms By Brand Pan Pacific 19 5,936 4 1,000 PARKROYAL 13 3,868 2 748 Total 32 9,804 6 1,748 By Ownership Type Owned 20 6,250 1 237 Managed 12 3,554 5 1,511 Total 32 9,804 6 1,748 Note: Serviced suites are included in the above tally 2
Slide 24: Owned Hotels
Owned Hotels Country Rooms Portfolio Pan Pacific Orchard Singapore 206 PARKROYAL on Beach Rd Singapore 346 PARKROYAL on Kitchener Road Singapore 532 PARKROYAL on Pickering Singapore 367 Pan Pacific Perth Australia 486 PARKROYAL Darling Harbour, Sydney Australia 340 PARKROYAL Parramatta Australia 286
Slide 25: Owned Serviced Suites
Owned Serviced Suites Properties Rooms Portfolio Pan Pacific Serviced Suites Orchard, Singapore 126 Pan Pacific Serviced Suites Beach Road, Singapore 180 PARKROYAL Serviced Suites Beach Road, Singapore 90 PARKROYAL Serviced Suites Kuala Lumpur 287 Total 683 25
Slide 26: Pan Pacific London
PAN PACIFIC LONDON (Expected to open in 2020) • Located in Bishopsgate, London’s central financial district • Part of a 43-storey luxury mixed-use development • 237 rooms and 160 residential units with dining, meeting, fitness and wellness facilities 26
Slide 27: Pan Pacific Beijing and Pan Pacific Yangon
PAN PACIFIC BEIJING PAN PACIFIC YANGON (Expected to open in 2017) (Expected to open in 2017) • Next to Beijing’s Financial Street and close • In downtown Yangon, opposite the new to Tiananmen Square Bogyoke Aung San Market • Exclusive club on level 14 with views of the • 40:60 joint venture with Shw
Slide 28: Pan Pacific Serviced Suites Puteri Harbour
PAN PACIFIC SERVICED SUITES PUTERI HARBOUR (Expected to open in 2018) • Located in Iskandar, Johor, a 10- minute drive from the Tuas Second Link • Spread over 16 floors in Tower Three of a luxury mixed-use development • 205 units with fitness and wellness facilities 28
Slide 29: FY2016 vs FY2015 financial results
$m FY2016 FY2015 % Change Revenue 1,440.7 1,278.7 13% Profit before fair value and other 391.2 411.6 -5% (losses)/gains Other losses of a joint venture company -3.2 - - Other losses of the Group -23.3 -22.0 6% Fair value (losses)/gains on associated -1.1 9.9 -112% companies’ investment properties Fa
Slide 30: Earnings per share, NTA and returns
FY2016 FY2015 % Change Earnings per share before fair value and 40.5 cents 44.2 cents -8% other (losses)/gains Earnings per share 35.8 cents 49.4 cents -28% Net tangible asset value per share $10.07 $9.89 2% Return on equity before fair value and 3.99% 4.44% -10% other (losses)/gains Return on equit
Slide 31: Capital Management
Capital Management FY2016 FY2015 % Change Total equity $8,635m $8,401m 3% Cash $302m $276m 9% Net debt $2,108m $2,294m -8% Gearing ratio 0.24 0.27 -11% Average borrowing cost 2.10% 2.35% -11% Term loan 91% 87% 5% Interest cover 10 Xs 10 Xs - (including interest capitalised) Ave debt maturity (Yr) 1.
Slide 32: Debt Maturity Profile
Debt Maturity Profile (as at 31.12.16) (as at 31.12.15) $m % $m % Within 1 year 729 30 524 20 1-2 years 863 36 809 32 2-3 years 578 24 995 39 > 3 years 240 10 242 9 Total Debt 2,410 100 2,570 100 32
Slide 33: Revenue and Operating Profit Distribution by Business Segments
($m) Revenue and Operating Profit Distribution by Business Segments in 2016 33
Slide 34: Revenue, Adjusted EBITDA, Total Asset Value
(%) Revenue FY2016: $1,440.7m FY2015: $1,278.7m Adjusted EBITDA* FY2016: $492.6m FY2015: $538.7m *Excludes unallocated cost, other gains/losses and fair value gains/losses on investment properties Total Asset Value FY2016: $11,558.1m FY2015: $11,501.3m 34
Slide 35: Revenue by Business Segments 2016 vs 2015
($m) Revenue by Business Segments 2016 vs 2015 27% 2% 3% 9% -29% 35
Slide 36: Operating Profit by Business Segments 2016 vs 2015
($m) Operating Profit by Business Segments 2016 vs 2015 4% -4% -2% -29% -24% 36
Slide 37: RevPAR 2016 vs 2015
RevPar* (2016 vs 2015**) In 18% -3% SGD 216.1 217.8 209.9 4% 184.8 180.7 173.5 2% 137.4 134.6 2016 -3% 90.3 2015 87.6 18% 54.2 46.0 Singapore Southeast China North Oceania Total Asia America * RevPar = Revenue per Available Room 37 ** For comparability, FY2015 RevPar has been translated at constant
Slide 38: Outlook: Residential and Office
Residential • Residential property remains subdued with cooling measures still in place • Projects with good design and attributes should still attract buyers Office • Office rentals likely to remain under pressure due to completion of new supply in 2016 and 2017 38
Slide 39: Outlook: Retail and Hospitality
Retail • Retail rents expected to soften with new supply and competition from e-commerce • Niche malls are more resilient Hospitality • Hospitality sector in Asia Pacific will continue to face challenges 39
Slide 40: Acquisition and cost management priorities
• Continue to stay nimble for acquisition of niche sites in Singapore • Acquisition of completed properties for recurring income • Continue to be stringent on cost management and reduction 40
Slide 41: Corporate, residential and hotel awards
CORPORATE AWARD Brand Finance - Top 100 Singapore Brands 2016 (#34) • UOL Group Limited RESIDENTIAL PROJECTS International Property Awards 2016 • Principal Garden FIABCI Singapore Property Awards 2016 • Archipelago HOTEL PROPERTIES 16th SIA Architectural Design Awards 2016 • PARKROYAL on Pickering W
Slide 42: Forward-looking statements disclaimer
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
Slide 43: Q&A
UOL Seal $l Q&A