Slide 1: Briefing for Retail Shareholders
Briefing for Retail Shareholders Mr Loh Chin Hua CEO 20 August 2026
Slide 2: Keppel today: global asset manager & operator
Keppel today: global asset manager & operator We operate across the full investment lifecycle from fundraising and deployment to asset development, operations and value crystallisation. $106B $530M Funds under Management The New Keppel’s 15% The New Keppel’s as at Jul 2026 net profit for 1H26 annual
Slide 3: Fast-scaling asset management business
Fast-scaling asset management business Accelerating Keppel’s growth with greater scale, a stronger track record and growing LP and investor confidence. Funds under Management Target $200B A new inflection point $106B $25B 2016 Jul 2026 End-2030 3
Slide 4: Generating alpha through operational expertise
Generating alpha through operational expertise Originating proprietary investment opportunities through deep engineering and project management capabilities. Bifrost Cable System Data Centre Campus Sakra Cogen Plant c.30% >50% c.15% expected IRR IRR expected IRR Building multiple income streams as a
Slide 5: Twin flywheels for value creation
Twin flywheels for value creation AI amplifies the asset management and operating flywheels, creating a virtuous cycle of value creation. Operator Asset Manager 5
Slide 6: A structural growth opportunity
A structural growth opportunity AI is driving multi-trillion-dollar investments across energy and digital infrastructure that powers the AI economy. $5.2T 2X $16B data centre investment electricity demand from of new subsea cables the world needs by 2030 data centres worldwide entering service to me
Slide 7: A distinctive market position
A distinctive market position Keppel has built synergistic capabilities across energy and digital infrastructure to capture opportunities arising from AI-driven growth. Power Delivering reliable, lower-carbon energy solutions for AI infrastructure. Data Centres Developing and operating AI-ready digi
Slide 8: Well placed to scale
Well placed to scale Backed by a robust pipeline, diverse sources of capital and deep operating expertise, Keppel is well placed to drive future growth across energy and digital infrastructure. Access to $29B $12B >1.0 GW 1.9 GW power-constrained in APAC and growing markets Deal flow pipeline Dry po
Slide 9: An integrated ecosystem powering AI-driven growth
An integrated ecosystem powering AI-driven growth Together, these integrated capabilities reinforce one another to create differentiated opportunities and long-term value. Reliable power Integrated utilities AI infrastructure Advanced cooling systems Advanced, hydrogen-compatible power plants Hypers
Slide 10: Keppel in 2030 and beyond
Keppel in 2030 and beyond AI-enabled global asset manager & operator delivering scalable growth through energy and digital infrastructure solutions. $200B $1B >70% Target Funds Potential asset of earnings expected from under Management management feesi infrastructure solutions supporting AI ii Drivi
Slide 11: Briefing for Retail Shareholders
Briefing for Retail Shareholders Ms Christina Tan CEO, Fund Management & CIO 20 August 2026
Slide 12: Keppel is at an inflection point
Keppel is at an inflection point INTEGRATED ECOSYSTEM STRUCTURAL DEMAND DRIVING PERFORMANCE Digital Infrastructure FUM today $106b AI-ready data centres, subsea connectivity Global asset manager IRR 20% Energy Infrastructure & operator Reliable, low-carbon energy solutions Originate • Invest • Opera
Slide 13: Amplifying growth in asset management
Amplifying growth in asset management Surpassed end-2026 $100b FUM target ahead of schedule. FUM: $106b FUM target: New FUM added YTD Key growth drivers: • Drive growth of flagship funds $200b • Expand with Aermont as $13.5b European platform • Harness strategic M&A Asset opportunities management 55
Slide 14: Keppel's capital and operating ecosystem
Keppel's capital and operating ecosystem Backed by private funds and listed evergreen REITs and Trust, Keppel’s integrated capital ecosystem enables us to deploy and recycle capital across energy and digital infrastructure. Dry powder AI-enabling infrastructure AI-ready data centres ✓Keppel Infrastr
Slide 15: Keppel Offshore Fund: From legacy assets to new investment platform
Keppel Offshore Fund: From legacy assets to new investment platform Harnessing our platform capabilities in fund management & investment: Legacy rigs Unlocking substantial Keppel to divest up to cash for Keppel 10 rigs for c.$3.7b c.$3.9bi,ii c.$1.9bi,iii to be received over time over 2026-2028i,iii
Slide 16: Delivering multiple sources of income through our business model
Delivering multiple sources of income through our business model Asset Management Sponsor Stakes & Operating Platform Co-Investments • Grow recurring asset • Expand earnings & cash flows • Develop proprietary assets management fees • Align interests with LPs and • Create alphas through deep investor
Slide 17: AI-enabled global asset manager
AI-enabled global asset manager Ivy & Investor IQ Tools to help deliver stronger LP engagement outcomes across funds and turbocharge fundraising Scenario analysis Tellus & Duet & simulations Research assistants to support surfacing of opportunities including early Hold/sell analysis deal screening f
Slide 18: Keppel in 2030 and beyond
Keppel in 2030 and beyond AI-enabled global asset manager & operator delivering scalable growth through energy and digital infrastructure solutions. $200B $1B >70% Target Funds Potential asset of earnings expected from under Management management feesi infrastructure solutions supporting AI ii Drivi
Slide 19: Thank you
Thank you
Slide 20: Glossary
Glossary (Information in this presentation should be read in conjunction with this glossary.) Term Definition Asset Fees for providing management and other services to funds, listed REITs and Trust. Such fees include acquisition fee, management fee, Management Fees divestment fee and carry. It is ba
Slide 21: Glossary (Cont.)
Glossary (Cont.) (Information in this presentation should be read in conjunction with this glossary.) Term Definition Data Centre Portfolio’s Includes projects under development. Gross Power Capacity Data Centre Powerbank Capacity available for future data centre development. Dry Powder Gross value
Slide 22: Glossary (Cont.)
Glossary (Cont.) (Information in this presentation should be read in conjunction with this glossary.) Term Definition Horizontal Net profit analysis based on the New Keppel business model and nature of income. Reporting (HoR) Fund Management & Investment Operating Platform Asset Management Investing
Slide 23: Glossary (Cont.)
Glossary (Cont.) (Information in this presentation should be read in conjunction with this glossary.) Term Definition Internal Rate of Return Presented based on average of the annualised internal rate of return of investments divested by the private growth equity funds, weighted (for divested deals
Slide 24: 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, SUBSCR