Keppel Ltd. · SGX:BN4
Keppel — Keppel Infrastructure Trust — Merger or Acquisition (April 2025)
12 slides from Keppel's merger presentation, Apr 1, 2025
Slide 1: Proposed Investment of Global Marine Group, a Leading Subsea Cable Services Provider
Proposed Investment of Global Marine Group, a Leading Subsea Cable Services Provider 1 April 2025
Slide 2: Important Notice
Important Notice NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, EUROPEAN ECONOMIC AREA, CANADA, JAPAN, MALAYSIA, THAILAND OR AUSTRALIA The information contained in this presentation is for information purposes only and does not constitute or form part of, a
Slide 3: Acquisition of Global Marine Group: A Leading Subsea Cable Service Provider
Acquisition of Global Marine Group: A Leading Subsea Cable Service Provider Rare investment opportunity with long-term contracts and high entry barriers in a niche market ▪ KIT to acquire c.46.7% interest in Global Marine Group (“GMG”), a leading subsea cable service provider from Keppel Infrastruct
Slide 4: Global Marine Group: Defensive Business with Highly Contracted Revenue
Global Marine Group: Defensive Business with Highly Contracted Revenue UK-based leading provider of subsea cable installation and maintenance solutions Business lines Maintenance Charter Installation UJ1 and Ancillary Services OceanlQ Vessel standby and Value-added, long-term Regional short-haul Ess
Slide 5: Key Investment Highlights
Key Investment Highlights Strategic investment underpinned by strong fundamentals 1 Strong market fundamentals with favourable demand-supply dynamics Market leading positions across a complementary suite of subsea 2 services 3 Recurring revenue from long-term contracts with cost pass-through 4 High
Slide 6: Strong Market Fundamentals with Favourable Demand and Supply Dynamics
1. Strong Market Fundamentals with Favourable Demand and Supply Dynamics Global demand for connectivity makes GMG well-positioned for long-term sustainable growth 1 Global structural themes are driving industry tailwinds … 2 … leading to the expected growth of global cable length … Global Cumulative
Slide 7: Market Leading Positions Across a Complementary Suite of Subsea Services
2. Market Leading Positions Across a Complementary Suite of Subsea Services Comprehensive set of services spanning from pre-project planning, installation, and maintenance ▪ Scale and Operational Excellence: GMG has collectively installed >320,000 km and maintains >450,000 km of subsea cables global
Slide 8: Recurring Revenue from Long-Term Contracts with Cost Pass-Through
3. Recurring Revenue from Long-Term Contracts with Cost Pass-Through 80% of contracted revenue base with visible upside from additional services Maintenance Zone Contracts Charter Contracts Contracted revenue base ▪ Long-term agreements for a period of 5–7 years with risk ▪ Contracts provide for def
Slide 9: High Barriers to Entry and Entrenched Customer Base
4. High Barriers to Entry and Entrenched Customer Base Reinforce the difficulty in replicating GMG’s business model Barriers to Entry Long-term relationships highlight GMG’s proven ability to renew maintenance zone contracts Customer High barriers to Factor GMG Positioning Requirement entry Demand f
Slide 10: Accretive Acquisition that Strengthens Portfolio Resiliency and Diversification
5. Accretive Acquisition that Strengthens Portfolio Resiliency and Diversification FY 2024 pro forma Distribution per Unit (DPU) to increase by 3.5% Funds from Operations Establishing KIT’s Presence in Emerging Business Segment - Digital (FFO)1,2 By Business and Assets By Geography 1.3% Energy Trans
Slide 11: Leveraging Keppel's Deep Operating Capabilities in the Connectivity Space
6. Leveraging Keppel’s Deep Operating Capabilities in the Connectivity Space To unlock value and drive enhanced returns for GMG Leverage Keppel’s operational expertise and industry know-how in the connectivity space ▪ DC development and solutions ▪ Subsea cables development / ▪ Pre-installation cons
Slide 12: Thank You
Thank You www.kepinfratrust.com Connect with us on:
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