Boustead Singapore Limited · SGX:F9D
Boustead Singapore — Shareholder Meeting (February 2026)
23 slides from Boustead Singapore's shareholder meeting presentation, Feb 25, 2026
Slide 1: Extraordinary General Meeting
Boustead Singapore Limited EXTRAORDINARY GENERAL MEETING 25 February 2026
Slide 2: FY2026 EGM on Proposed Listing of UI Boustead REIT
Boustead Singapore Limited FY2026 Extraordinary General Meeting in relation to The Proposed Transactions In Connection With The Proposed Listing Of UI Boustead Reit 25 February 2026
Slide 3: Management Presentation
BOUSTEAD Since 1828 Management Presentation
Slide 4: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact such as forward-looking statements. These statements are based on current expectations, projections and assumptions about future events. Although Boustead Singapore Limited and Boustead Projects Limit
Slide 5: Contents
Contents 1. Introduction 2. Establishment of UI Boustead REIT 3. Rationale for UI Boustead REIT 4. Details of Proposed Transactions 5. Financial Effects It is important to note that this presentation should be viewed in conjunction with the Circular to Shareholders and the Advance Questions and Resp
Slide 6: Introduction
Introduction Principal Businesses of Boustead’s Real Estate Solutions Division (Boustead Projects) Front-end engineering design Engineering & Turnkey design- E&C (FEED) and Construction and-build additions & alterations (A&A) Real Estate Real Estate Asset and property Funds Investments management ma
Slide 7: Establishment of UI Boustead REIT
Establishment of UI Boustead REIT
Slide 8: Establishment of UI Boustead REIT: Overview
Establishment of UI Boustead REIT Overview UI Boustead REIT, constituted in Singapore pursuant to a trust deed between the REIT Manager and The Trust the Trustee Proposed initial public offering and listing on the Mainboard of the Singapore Exchange Securities IPO / Listing Trading Limited (SGX-ST)
Slide 9: Establishment of UI Boustead REIT: Overview
Establishment of UI Boustead REIT Overview REIT Manager UIB REIT Management Pte. Ltd. (100% owned by UIB) Trustee Perpetual (Asia) Limited Boustead Singapore Limited (through Boustead Projects Limited / BP-Real Estate Investments Boustead’s Participation Pte. Ltd.) to hold up to approximately 16.9%
Slide 10: Rationale for UI Boustead REIT
Rationale for UI Boustead REIT
Slide 11: Rationale for UI Boustead REIT
Rationale for UI Boustead REIT Envisioned for long-term growth and stable recurring income stream Such a structure enhances earnings visibility, improves capital discipline, and strengthens Boustead Singapore Limited (”BSL”)’s positioning as an asset sponsor rather than a pure asset holder. Monetise
Slide 12: Details of Proposed Transactions
Details of Proposed Transactions
Slide 13: Proposed Transactions
Proposed Transactions Overview Purpose of Transactions • To facilitate the proposed IPO and listing of UI Boustead REIT on the SGX-ST • To divest BSL’s interests in selected Singapore logistics and industrial assets • To consolidate industrial real estate assets into a listed REIT platform Scope • P
Slide 14: Proposed Divestments: Properties Divested
Properties Divested Directly via Proposed Transactions PCOAs / SPAs ALICE@Mediapolis 8 & 12 Seletar Aerospace Heights Proposed Divestments AUMOVIO Building Phase 3 11 Seletar Aerospace Link Rolls-Royce Solutions Asia BSL (through BPL) will divest its effective interests in 31 Tuas South Avenue 10 se
Slide 15: Proposed Transactions Before: Boustead Industrial Fund
Proposed Transactions Before Proposed Boustead Industrial Fund (BIF) Transaction Current Position • BPL holds 25.0% unitholding in Boustead Industrial Fund (“BIF”) Proposed Transaction • Sale of 100% of BIF units to UI Boustead REIT • BIF will become a wholly-owned sub-trust of UI Boustead REIT post
Slide 16: Proposed Transactions After: Boustead Industrial Fund
Proposed Transactions After Proposed Boustead Industrial Fund (BIF) Transaction Current Position • BPL holds 25.0% unitholding in Boustead Industrial Fund (“BIF”) Proposed Transaction • Sale of 100% of BIF units to UI Boustead REIT • BIF will become a wholly-owned sub-trust of UI Boustead REIT post-
Slide 17: Transaction Consideration & Valuation
Proposed Transactions Transaction Consideration & Valuation Initial Portfolio Use of Proceeds by BSL • 23 properties (Singapore and Japan) • Total Agreed Property Value: ~S$1,904.2 million Estimated Total Proceeds (100% basis) • Approximately S$258.7 million Total Transaction Amount (payable by UI B
Slide 18: Units Subscription and Key Supporting Arrangements
Proposed Transactions Other Key Supporting Subscription for UI Boustead REIT Units Arrangements • Grant of Right of First Refusal ("BPL ROFR") BPL Units Subscription by BPL to REIT Trustee • BSL (through BPREI) to subscribe for up to ~16.9% of Units at listing • Sponsor and BPL Deed of Contribution
Slide 19: Conditions & Approvals
Proposed Transactions Conditions & Approvals Transactions are conditional upon • IPO of UI Boustead REIT and the listing and quotation of the Units taking place • Shareholders’ approval at EGM • Regulatory approvals (including tax rulings) and market conditions • Execution of definitive agreements I
Slide 20: Financial Effects
BOUSTEAD Since 1828 Financial Effects
Slide 21: Pro Forma Financial Effects on BSL Group
Pro Forma Financial Effects on BSL Group The pro forma financial effects of the Proposed BPL Transactions on the EPS of the Group for FY2025, as if the Proposed BPL Transactions were completed on 1 April 2024, are as follows: Actual FY2025² After Proposed BPL Transactions² Profit attributable to ord
Slide 22: Pro Forma Effects on BSL Group NTA Per Share
Pro Forma Effects on BSL Group NTA Per Share Pro forma accretive to BSL Group NTA per share for FY2025 Actual FY2025 After Proposed BPL Transactions³ NTA attributable to equity holders 578.8 733.4⁴ (S$’million) Issued Shares (million) ¹ 491.6 491.6 NTA per Share (Singapore cents) ² 117.7 149.2 Notes
Slide 23: End of EGM Thank you
Thank You For investor relations enquiries, please contact: ir.team@boustead.sg End of EGM Thank you 23
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