City Developments Limited · SGX:C09
City Developments — Investor Presentation (September 2026)
21 slides from City Developments's investor presentation, Sep 28, 2026
Slide 1: Strategic Review Presentation
Strategic Review Presentation 28 September 2026 Newport Plaza
Slide 2: GET Strategy: Laying the Foundation since 2018
GET Strategy Laying the Foundation since 2018 Key achievements (2018 – 2026)1 G E T GROWTH ENHANCEMENT TRANSFORMATION Build development pipeline Rejuvenate and reposition Recycle capital and build new and recurring income streams existing portfolio growth platforms >$26B Residential sales 5 Major
Slide 3: The Strategic Review Identified Four Priorities
The Strategic Review Identified Four Priorities Investor Perceptions Audit feedback taken into consideration 1 2 3 4 Sharper Active Measurable Clear path to enhanced strategic focus portfolio management implementation roadmap shareholder returns Key markets and Assets to retain, enhance Defined targ
Slide 4: GET+ Strategy Roadmap
3 4 5 6 GET+ $ $ Strategy Roadmap B B YEARS SECTORS INVESTMENTS DIVESTMENTS Residential · Commercial Future Growth Capital Recycling FY 2027 – 2029 Hospitality · Living 4
Slide 5: GET+ – The Next Chapter of Value Creation
GET+ – The Next Chapter of Value Creation Building on GET with sharper execution, disciplined capital allocation and measurable outcomes G GROWTH E ENHANCEMENT T TRANSFORMATION The “+” = PLUS: Four Targeted Outcomes (FY 2027 – 2029) + P PAYOUT L LEVERAGE U UNLOCK S SCALE ≥35% ~55% >$1B PATMI2 $10B a
Slide 6: Focusing Growth Capital in Sectors Across Priority Markets
Focusing Growth Capital in 4 Sectors Across Priority Markets 1 2 3 4 Lucerne Grand Artist’s impression Republic Plaza Grand Copthorne Waterfront Hotel Escenario Akasaka Sectors Residential Commercial Hospitality Living • Singapore • Singapore • Asia • Singapore • UK • UK • Europe • UK Current Presen
Slide 7: Deploying Capital with Focus and Discipline
Deploying Capital with Focus and Discipline Others $5B 10% China & Japan Amplify growth capital via 30% INVESTMENTS Joint ventures Fund management Capital Growth capital to focus on 4 sectors Allocation Targets RESIDENTIAL COMMERCIAL HOSPITALITY LIVING Singapore 60% 7
Slide 8: Rationalising Portfolio to Unlock Embedded Value
Rationalising Portfolio to Unlock Embedded Value Legacy Residential $6B & Others Living 20% 5% Priorities: DIVESTMENTS Value crystallisation Disciplined capital recycling Capital Identify and recycle assets MATURE Recycling NON-CORE Targets UNDERPERFORMING Hotel Commercial Potential pathwa
Slide 9: FY 2027 – 2029 Cash Inflows from Property Development Sales
FY 2027 – 2029 Cash Inflows from Property Development Sales >$6B PROJECTED CASH INFLOWS1 Artist’s impression Tanjong Rhu Road2 Peck Hay Road2 Union Square Residences 366 units Est. 515 units Est. 380 units Supported by: Future cash collections from contracted sales in Singapore 5 unlaunched proj
Slide 10: Residential
1 Residential GET+ 4 Sectors BUILD PIPELINE ACCELERATE EXIT Comprises 3 development sites and unsold units in 2 completed residential projects Portfolio carrying value: ~$0.8B1 Lucerne Artist’s Grand Impression Artist’s Impression Xintiandi, Shanghai Mortlake, London Artist’s Impression Sustain
Slide 11: Commercial
2 Commercial GET+ 4 Sectors ENHANCE VALUE EXTRACT VALUE Republic Plaza Union Square Artist’s Impression 125 Old Broad Street St Katharine Docks Optimise Monitor Unlock value through active asset management and redevelopment Comprises 3 assets in Central London with NLA of ~1.1MM sq ft Existing
Slide 12: Hospitality
3 Hospitality GET+ 4 Sectors GLOBAL PORTFOLIO 165 47,795 1 1 Tailored approach for each asset to maximise asset value Hotels Rooms Globally MHR Managed 10 hotels (6%) MHR Owned Portfolio2 The Biltmore, Mayfair Grand Copthorne Waterfront Singapore Franchised 58 hotels Operated by 67 hotels (41%) (66%
Slide 13: Clear Execution Priorities for CDL's Owned Hotels
3 Hospitality GET+ 4 Sectors 54 CDL Hotels 8.6B Clear Execution Priorities for CDL’s Owned Hotels 1 $ A returns-driven approach: retain core performers, optimise assets and recycle capital. Portfolio value 88 1 CDL 2 Core Enhance Divest (under MHR & ~60% of portfolio value ~20% of portfolio value ~2
Slide 14: Living
4 Living GET+ 4 Sectors KEY HIGHLIGHTS GLOBAL LIVING SECTOR PORTFOLIO Private Rented Sector Purpose-Built Student Singapore & Japan Grow presence (PRS) Accommodation (PBSA) 5,240 units 2,368 beds UK Enhance operations Australia Australia Exit market (563 units) 10% UK PRS (1,505 units) 13% 36% Total
Slide 15: Fund Management: Expanding into Private Platforms
Fund Management: Expanding into Private Platforms Today How We Grow From Here 2x Target (by FY 2029) $5B AUM 1 Dedicated Platform Total AUM as of 30 Jun 2026 Investment strategy and mandate compliance to be governed by an $10BTotal AUM Investment Committee. Scale AUM ● Grow Fees ● Enhance Returns $3
Slide 16: Fund Management: Leveraging CDL's Competitive Advantage
Fund Management: Leveraging CDL’s Competitive Advantage Over 60 Years of Expertise Site Acquisition Deep market knowledge Partnerships Property and JVs Development Third-party Integrated Concept to capital Capabilities completion + Quality Portfolio Hospitality Property Sales Operations / Leasing Es
Slide 17: Fund Management: The Roadmap to $10B AUM
Fund Management: The Roadmap to $10B AUM Applying CDL’s Competitive Advantage… …to Optimise the Capital Flywheel Each cycle combines CDL’s pipeline and third-party capital to grow AUM and improve capital efficiency Originate Alignment Assets to be seeded into managed vehicles can come from CDL’s por
Slide 18: Alignment of Management Interests with Shareholders
Alignment of Management Interests with Shareholders The CDL PSP 2026: A share-based incentive framework that aligns senior management remuneration with long-term value creation for shareholders Performance Conditions for CDL Performance Share Plan (PSP) 2026 TSR EPS ROACE GHG Total Shareholder Retur
Slide 19: GET+: Sharper Focus, Stronger Capital Discipline
GET+ Sharper Focus . Stronger Capital Discipline . Sustainable Shareholder Returns What GET+ 3 › 4 › $5B › $6B Will Do YEARS SECTORS INVESTMENTS DIVESTMENTS FY 2027 – 2029 Residential, commercial, Growth capital, with Capital recycling, not inclusive of Over the next 3 years hospitality and living $
Slide 20: Our Vision, Mission and Values
OUR VISION: We aim to be recognised by customers, employees and peers as an innovative creator of quality and sustainable spaces. OUR MISSION: C onceptualise spaces and solutions R espect planet Earth E ncourage diversity of people and ideas A dvance the communities we operate in T ake prudent risk
Slide 21: Disclaimer
Disclaimer: NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS PRESENTATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL, SUBSC
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