S P Setia Bhd. · MYX:SPSETIA
S P Setia Bhd — Q3 2025 Earnings Presentation
45 slides from S P Setia Bhd's earnings presentation, Nov 14, 2025
Slide 1: Q3 2025 Financial Results & Group Update
Bandar Setia Alam Q3 2025 Financial Results & Group Update 14 November 2025
Slide 2: Solid Q3 Performance, Poised for a Strong FY2025
SOLID Q3 PERFORMANCE, POISED FOR A STRONG FY2025 SALES REVENUE • Sales: Up 78% QoQ and 766 3493 1589 735 3197 9% 9% YTD to RM3.5 billion Property development maintained an (73% of FY target). RM’mil 78% 652 upward trend from Q1 to Q3 2025, RM’mil 894 supported by sustained demand and • Unbilled Sale
Slide 3: Financial Results YTD Q3 2025
Launches 2025 (GDV) FINANCIAL RESULTS YTD Q3’ 2025
Slide 4: YTD Q3 2025 Key Financial Highlight
YTD Q3 2025 KEY FINANCIAL HIGHLIGHT Q3 2025 sales remained resilient, supported by steady progress billings and improving net gearing. With operational momentum building, the company is well positioned for stronger revenue and profit recognition in Q4 2025. SALES REVENUE PBT RM 3,493 mil RM 2,587 mi
Slide 5: Q3 / YTD Q3 2025 Sales Performance
Q3’ / YTD Q3’ 2025 SALES PERFORMANCE The strong quarter-on-quarter growth in Q3’25 was mainly driven by contribution from strategic land transactions, with steady delivery of Property Development segment. Sales Unbilled Sales Sales Breakdown by Geography 3,493 (RM'mil) (RM'mil) (RM'mil) 4,152 578 99
Slide 6: YTD Q3 2025 Unbilled Sales
YTD Q3’ 2025 UNBILLED SALES Providing Property Development revenue visibility in the short to Q3 2025 Central medium term. 832 Southern Northern Vietnam Australia 37 Unbilled Sales 4,152 mil 134 Q3 2024 RM as at 30 September 2025 +19% 512 2,637 Unbilled Sales Q3’24 vs Q3’25 RM 3,503 mil as at 30 Sep
Slide 7: Q3 / YTD Q3 2025 Revenue Performance
Q3’ / YTD Q3’ 2025 REVENUE PERFORMANCE ~80% Revenue attributable to domestic Property Development Q-to-Q Revenue (RM’mil) YTD Revenue (RM’mil) Revenue Breakdown by Region ▪ Steady revenue growth from Property Development throughout the year 4,229 Malaysia International 203 RM2,522 mil RM65 mil (97%)
Slide 8: Q3 / YTD Q3 2025 PBT Performance
Q3’ / YTD Q3’ 2025 PBT PERFORMANCE Southern region remained the main contributor to YTD Q3 2025 PBT, supported by higher residential sales and cost savings. Its share eased to ~53% (Q2: ~60%), while Central region rose to ~45% (Q2: 38%) on stronger sales. Q-to-Q PBT (RM’mil) YTD PBT (RM’mil) PBT Bre
Slide 9: Q3 2025 Net Gearing
Q3’ 2025 NET GEARING Debt reduction ~RM5 bil since peak 2021 level – net gearing expected to be maintained within the 0.30x-0.40x range. ~RM13 bil peak debt in July’21 14 0.61 ~RM5 bil 0.65 12 0.47 debt reduction 0.55 0.49 in 4 years 10 0.45 Borrowing (RM'bil) Net Gearing (ratio) 0.35 0.35 0.34 0.35
Slide 10: Land Banks YTD Q3 2025
Launches 2025 (GDV) LAND BANKS YTD Q3’ 2025
Slide 11: YTD Q3 2025 Land Banks
YTD Q3’ 2025 LAND BANKS We have 4,761 acres of remaining land banks with a total gross GDV of RM110 bil as at 30 September 2025: Eastern International 44 acres 44 59 acres 59 (GDV: RM3 bil) (GDV: RM32 bil) Northern 42 Unbilled Sales On-going 1,185 acres 1,185 (GDV: RM12 bil) 4,761 RM5.38 billion as
Slide 12: Projects Launches YTD Q3 2025
Launches 2025 (GDV) PROJECTS LAUNCHES YTD Q3’ 2025
Slide 13: Projects Launches YTD Q3 2025
Launches 2025 (GDV) PROJECTS LAUNCHES YTD Q3’ 2025 Est. 2025 GDV Target Upcoming Launches Highlight ~RM5,400 mil ~RM1.7 bil Penang (Northern Region) Target Launch Date: 16 Nov 2025 12 Upcoming Launches Residential RM1,502 mil Launched Commercial RM165 mil Vietnam 67% YTD Q3’2025 Target Launch Date:
Slide 14: Projects Launches 2025 (GDV) Timeline
Launches PROJECTS LAUNCHES 2025 (GDV) YTD Q3’ 2025 Launched GDV value YTD Q3’2025 : RM3,619 mil Setia Alamsari Kota Bayuemas (Bungalow) Precinct Setia Alaman RM44mil RM138mil Arundina Industrial plots RM531mil RM146mil Setia Alamsari (Semi D) Setia EcoHill 2 ~RM1.7 bil Setia Alamsari RM37mil RM97mil
Slide 15: Upcoming Launches 2025 Highlights (Residential, Northern)
Launches 2025 (GDV) UPCOMING LAUNCHES 2025 – HIGHLIGHTS (Residential, Northern) TARGET LAUNCH DATE 16 NOV 2025 SUNDAY 1 Setia Sky Ville - Phase 2 268 units (Jelutong, Penang)
Slide 16: Upcoming Launches 2025 Highlights (Residential, Vietnam)
Launches 2025 (GDV) UPCOMING LAUNCHES 2025 – HIGHLIGHTS (Residential, Vietnam) 2 Setia Edenia (Ho Chi Minh City) GDV : USD81 mil / MYR339 mil Land Area : 8,629 sqm Total Units : 852 apartments, 13 shops, 3 towers (27 – 28 storeys) - 1 basement & 3- storey podium TARGET LAUNCH DATE EARLY DEC 2025 sub
Slide 17: Strategic Updates
Launches 2025 (GDV) STRATEGIC UPDATES 01 Battersea Power Station 02 Industrial Development 03 International growth (Australia & Vietnam) 04 Setia REIT 05 Strategic Roadmap
Slide 18: Battersea Power Station
Launches 2025 (GDV) BATTERSEA POWER STATION YTD Q3’ 2025
Slide 19: Overview
Launches OVERVIEW 2025 (GDV)
Slide 20: Battersea Power Station Overview
Launches OVERVIEW 2025 (GDV) GDV • Phase 3C : GBP 665mil • Phase 3D : GBP 228mil • Phase 4 – 7 : GBP 4bil completed in 2017 completed in 2022 completed in 2022 completed in 2023 & 2024 (office building handed over to PNB in 2024)
Slide 21: Battersea Power Station Footfall Up 9% YoY
Launches 30 2025 (GDV) MILLION VISITORS AND COUNTING: BATTERSEA POWER STATION’S FOOTFALL UP 9% YOY Visitor traffic remained strong in Q3 2025, boosted by: FUTURE DEVELOPMENT i. Vibrant summer programming. celebrASIA festival drew record attendance, marking the estate’s busiest weekend ever. 1. PHASE
Slide 22: Industrial Development
Launches 2025 (GDV) INDUSTRIAL DEVELOPMENT
Slide 23: Updates on Key Industrial Sites
LAUNCHES 2025 UPDATES ON KEY (GDV) SITES INDUSTRIAL Northern : Setia Fontaines Central : Setia Alaman Southern : Assessing Opportunities Vietnam : Potential pipeline Artist impression Artist impression Artist impression 480 ACRES Location: Cay Troung Eco 399 ACRES Ta r g e t e d l a n d Industrial P
Slide 24: Industrial Development – Northern Region
Launches INDUSTRIAL2025 (GDV) – NORTHERN REGION DEVELOPMENT Setia Fontaines, Penang (Joint Ventures) 480 acres Industrial Park - Potential RM700 mil monetization (to be utilized for Penang’s borrowings reduction) Rezoning approval granted by Penang State Government on 30th Oct 2025
Slide 25: Industrial Development – Central Region
Launches INDUSTRIAL2025 (GDV) – CENTRAL REGION DEVELOPMENT Setia Alaman Industrial Park, Klang Ally Logistic x Setia Collaboration Strategic 42 acres partnership with BUSINESS UNIT Build-to-Lease TWO smart warehouses PERFORMANCE providing 1.5 million sqft in floor area DASHBOARD 1 advanced cold chai
Slide 26: Industrial Development – Vietnam
Launches INDUSTRIAL2025 (GDV) - VIETNAM DEVELOPMENT Potential Vietnam Industrial Site – Bau Bang & Cay Troung Industrial Park
Slide 27: International Growth
Launches 2025 (GDV) INTERNATIONAL GROWTH
Slide 28: Australia – Melbourne and Sydney Growth Pipeline
Launches AUSTRALIA 2025 (GDV) Melbourne Growth Pipeline ATLAS - La Trobe St (839 units, 73-storey) * GDV AUD750mil/RM2.37 bil - Launched on 5 Oct’24 Carlton (GDV AUD640mil/RM2.01 bil) Sydney Growth Pipeline St Leonards (GDV AUD236mil/RM741.3 mil) Completed Projects – SOLID BRAND & HISTORICAL PERFORM
Slide 29: Australia – Melbourne ATLAS La Trobe St
Launches AUSTRALIA 2025 (GDV) Melbourne ATLAS - La Trobe St 839 units, 73-storey GDV AUD750mil/RM2.37 bil Sold to-date: 481 units 60% take up rate target by year-end
Slide 30: Australia – Melbourne Carlton
Launches AUSTRALIA 2025 (GDV) Melbourne Carlton GDV AUD640 mil/RM2.01 bil Land area: 6,468 sq m (69,621 sq ft) Proposal for 3 towers with Student accommodation and Residential apartments
Slide 31: Australia – Sydney St Leonards
Launches AUSTRALIA 2025 (GDV) Sydney St. Leonard's Proposed development GDV AUD236 mil/RM741 mil) • Residential Land area: 1,374 sq m (14,790 sq ft) • Commercial • Retail
Slide 32: Vietnam
VIETNAM SWEET HOME BY THE ) N © S N = 3 Cte “GREEN LUN
Slide 33: Vietnam Future Collaboration Expansion Plan
VIETNAM Future Collaboration Expansion Plan Bau Bang & Cay Troung Bau Bang & i * Cay Trou ng. “ 2 s 30... e e PARKS TAN UYEN 01 Bau Bang Mo Tan Binh 21. Nam Tan Uyen Rong > Bau Bang 12 VSP I 2 Viet Huong BUSINESS 03 Rach Bap 13 Dong An 2 23 VSIP 1 04 Protrade 14 Phu Tan 24 Dong An 05 Mai Trung is VS
Slide 34: Future Collaboration Expansion Plan
Future Collaboration Expansion Plan Proposed F vsses Solar Farm BI TAY NGUYEN 4 (On-going) iieiiteonea Proposal 1 4 4 by Bau Bang Eco Affordable Home » U i ee \ Hum 38800) > Connectivity = Proposal 2 Cay Troung Industrial Park (14an0/366ac) Existing Highway + National Highway 13 (Upgrading to 10 lan
Slide 35: Ho Chi Minh City Map Following Provincial Merger
Future Collaboration Expansion Plan Ho Chi Minh City's Map Following Provincial Merger Binh Duong Ho Chi Minh City (New) © Area: 6,772 km? © Population: 13,706,632 TOP 3 SOUTHERN ECONOMIC CITY POPULATION AREA GRDP (New HCMC) Export Value BINH DUO'NG TP HO CHi MINH BA RIA VUNG TAU 13,7M * PEOPLE B >
Slide 36: Major FDI Companies in Vietnam
Future Collaboration Expansion Plan Major FDIs Companies: ent) nae BW, @® NsSes a INDUSTRIAL sense, im OR SE FAR EASTERN GROUP Vanguard of Sustainability TOP GLOVE) SKOLON INDUSTRIES <2 KYUNGBANG TOP QUALITY, TOP EFFICIENCY 2CCO baste _F ORS DONGIL RUBBER BELT CO. LTD. Vietnam
Slide 37: Setia REIT
Launches 2025 (GDV) SETIA REIT
Slide 38: Why Setia REIT?
Why Setia REIT? Lotus’s Setia Tropika Sutera Mall Setia City Mall ➢Unlock value - *earmark approx. ~up to RM800 mil assets monetization proceeds ➢ Eligible for tax benefits: Capital gain tax exemption (10%) Market Value: RM 33.8 mill Market Value: RM 510 -535 mill Market Value: RM 1,150 – 1,200 mill
Slide 39: Strategic Roadmap
Launches 2025 (GDV) STRATEGIC ROADMAP
Slide 40: Strategic Pillars 2026 - 2030
Launches 2025 (GDV) STRATEGIC PILLARS 2026 - 2030 Business Focus Enablers Accelerating Industrial Empowering Team Amplifying Setia Development Growth Setia Brand International Recurring Income Driving Innovation Leading ESG Growth through REIT & Digitalization & Sustainability
Slide 41: Target Roadmap
Launches 2025 (GDV) TARGET ROADMAP Long - Term ▪ Asset light strategy by optimising land/assets , focusing on maximizing Mid – Term returns and efficient capital allocation. ▪ Maintaining net gearing ratio between 0.3x Short Term to 0.4x ▪ Sustainable profit from: ❖ Development Sales ▪ Reducing borr
Slide 42: Recap – Q3 2025 Summary
RECAP – Q3 2025 SUMMARY SALES REVENUE • Sales: Up 78% QoQ and 766 3493 1589 735 3197 9% 9% YTD to RM3.5 billion Property development maintained an (73% of FY target). RM’mil 78% 652 upward trend from Q1 to Q3 2025, RM’mil 894 supported by sustained demand and • Unbilled Sales: Up 19% higher unbilled
Slide 43: Team
Team TO PUT The Edge TEPEA award pics 43
Slide 44: Thank You
Summary Setia SPICE Convention Centre, Penang Thank You Setia Fontaines, Pulau Pinang Setia City, Bandar Setia Alam Setia Alaman Industrial Park, Klang, Selangor Sapphire bv the Gardens, Melbourne, Australia 44
Slide 45: Disclaimer
Disclaimer This presentation contains certain statements which are forward-looking in nature, which are subject to uncertainties and contingencies. Forward-looking statements may contain estimates and assumptions made by Setia’s Management after due inquiry, which are nevertheless subject to known a