Sembcorp Industries Ltd. · SGX:U96

Sembcorp Industries — Investor Presentation (September 2025)

33 slides from Sembcorp Industries's investor presentation, September 2025

  1. Slide 1: Investor Presentation

    Investor Presentation September 2025 1 © Sembcorp Industries

  2. Slide 2: Sembcorp Industries at a Glance

    OVERVIEW Sembcorp Industries at a Glance Our Business Segments Our Strategic Focus Gas and Related Services • Importer of piped natural gas & liquefied natural gas Drive • Utility-scale power generation and cogeneration Energy Transition • Steam generation • Distributed energy generation Renewables

  3. Slide 3: Our Global Portfolio

    Our Global Portfolio Wind Solar 7.8GW 8.8GW One of the largest self- Leading solar energy operated wind portfolio in India player in Singapore Energy Storage System Hydro 2.3GWh 49MW Southeast Asia’s largest energy Acquired as part of storage system acquisition from Gelex Group Gas & Related Service

  4. Slide 4: External Factors Driving a More Uncertain Business Environment

    MACRO OVERVIEW External Factors Driving a More Uncertain Business Environment Key Developments Implications • Heightened uncertainty Liberation Day Tariffs • Slowdown in customer expansion plans China renewables – Imbalance • Higher curtailment between renewables growth and • Pressure on power price

  5. Slide 5: 1H2025 Group Financials

    1H2025 Group Financials 1H25 vs 1H24 Turnover 8% Earnings Per Share before EI and DPN FX  S$2,942 million 27.6 cents (EPS: 30.1 cents) EBITDA1 S$834 million 6% Group ROE3 before EI and DPN FX  (annualised) 17.8% (ROE: 18.6%) Adjusted EBITDA2 S$1,045 million * Net Profit before Exceptional Items

  6. Slide 6: Earnings Stability Amid Weak Market Prices

    GAS AND RELATED SERVICES Earnings Stability Amid Weak Market Prices Singapore Gas-Fired Power Plants Contracting Profile1 Stable earnings despite lower spark spreads 0 to 5 years, Spot , 1% • Singapore: Lower spreads for renewed contracts and higher- 13% cost green power imports, offset by contribut

  7. Slide 7: Continued Growth in Capacity, Steady Progress towards 25GW Target

    RENEWABLES Continued Growth in Capacity, Steady Progress towards 25GW Target Gross Renewables Capacity1 1H25 Renewables net profit increased 27% YoY (GW / GWh) • Stronger performance from India due to better wind resource 30 30.0 • Additional 3.8GW of installed capacity compared to 1H2024, 25 includ

  8. Slide 8: China – Deploying Capital Selectively with Strict Discipline

    RENEWABLES China – Deploying Capital Selectively with Strict Discipline Sembcorp China Gross Renewables Capacity* Growth (GW / GWh) 10.0 + 0.8 9.4 9.0 + 1.1 3 8.0 4 + 3.0 7.0 6.0 8 5.0 + 3.7 4.0 3.0 5 2.0 1.0 0.7 - 2021 2022 2023 2024 2025 Total x Denotes number of transactions completed during the

  9. Slide 9: India – Achieved Operational Scale with Visible Growth Pipeline

    RENEWABLES India – Achieved Operational Scale with Visible Growth Pipeline • Strong growth visibility: Installed capacity of 3.3GW with a further 3.3GW secured or under construction across diverse technologies • Scale enables us to explore capital recycling as a priority initiative to drive value Gr

  10. Slide 10: Strengthened Performance and Sharpened Focus

    INTEGRATED URBAN SOLUTIONS Strengthened Performance and Sharpened Focus Land for Development Urban: Expanding land bank and growing recurring (hectares) income 18,000 • Higher land sales, driven by stable demand in Vietnam and 14,400 14,800 13,000 stronger sales in Indonesia • Vietnam portfolio expa

  11. Slide 11: Well-positioned to Capture Data Centre Demand in Batam, Indonesia

    URBAN Well-positioned to Capture Data Centre Demand in Batam, Indonesia • Emerging data centre (DC) hub: Batam gaining momentum with existing DC facilities, and more under construction • Enhanced connectivity: New submarine cable Singapore systems connecting Batam to Singapore to come online in 2025

  12. Slide 12: Investments Calibrated to Market Conditions

    DECARBONISATION SOLUTIONS Investments Calibrated to Market Conditions Renewables Import Low-carbon Feedstock GoNetZeroTM • Exclusive discussions to • Exploring renewables and • Strengthening capabilities import 1GW of low-carbon green hydrogen / ammonia for long-term growth electricity from Sarawak

  13. Slide 13: S$23m FX Translation Impact on 1H2025 Earnings

    SGD STRENGTHENING ACROSS CURRENCIES S$23m FX Translation Impact on 1H2025 Earnings • Stronger SGD against currencies of operations; estimated impact of S$23m • Heightened currency volatility following Liberation Day tariffs announcement SGDCNH | +3% YoY SGDINR | +6% YoY SGDOMR | +2% YoY 1H2024 2H202

  14. Slide 14: Diversified Portfolio with Defensive Earnings

    DIVERSIFIED PORTFOLIO WITH DEFENSIVE EARNINGS 1H2025 Group Net Profit1 by Geography 88% of Group net profit from 12% investment-grade markets Investment-grade markets2 • Singapore: AAA • China: A+ 88% • India: BBB- Defensive earnings with Singapore • Indonesia: BBB contributing half of Group net pro

  15. Slide 15: Three Key Engines to Drive Growth

    Three Key Engines to Drive Growth Gas and Integrated Related Services Renewables Urban Solutions • Singapore’s leading integrated • Established presence in fast • Over three decades of experience in utilities player growing markets industrial park development • Only genco with LNG importation • Prov

  16. Slide 16: Sembcorp's 2028 Strategic Metrics

    Sembcorp’s 2028 Strategic Metrics ROE (%) Net Debt / Adj. EBITDA Adj. EBITDA / Interest 23.8% EU Hybrid2: Renewables2: 5.5x 5.7x 20.5% 5.4x 5.0x 4.7x Asian Hybrid2: 4.7x 4.2x Asian Hybrid2: 3.8x 4.0x 3.7x EU Hybrid2: Renewables2: 3.7x 3.5x 13.0% 3.2x Asian Hybrid1: 11.0% 2.8x EU Hybrid1: 8.9% Renewa

  17. Slide 17: Strong Financial Metrics and Attractive Valuation

    Strong Financial Metrics and Attractive Valuation ROE (%) Net Debt / Adj. EBITDA Forward P/E 28.3x 18% 4.8x 4.2x 3.9x 3.9x Median: 3.9x 3.2x Median: Median: 10% 11% 11% 15.5x 11% 14.5x 14.5x 14.1x 9% 9.6x Chinese India ASEAN EU Peers Sembcorp Chinese EU Peers India Sembcorp ASEAN Sembcorp EU Peers A

  18. Slide 18: Outlook

    Outlook The Group showed resilient performance in the first half of 2025, despite macroeconomic uncertainties. Contribution from the Gas and Related Services segment was steady despite lower wholesale prices in the Singapore market and the absence of contribution from Phu My 3 in Vietnam, as earning

  19. Slide 19: Developments to Note

    Developments to Note • Five-week maintenance for one unit of the Singapore cogeneration plants in the second half of 2025 – limited impact • UK – four-week maintenance at Sembcorp Biomass Power Station (Wilton 10) in the second half of 2025. Lower customer demand due to closure of SABIC ethylene cra

  20. Slide 20: Strategic Plan 2024 – 2028

    2024 – 2028 Strategic Plan © Sembcorp Industries

  21. Slide 21: Riding the Global Transition

    Riding the Global Transition Gas is Critical for Energy Transition Natural gas remains key for Singapore’s energy security beyond the next decade1 Growing Renewables Present in fast-growing renewables markets with over 1,650GW of new build capacity expected between 2024 and 20282 Global Industrial R

  22. Slide 22: Progress towards 2028 Targets

    Progress towards 2028 Targets Gross Installed Renewables Capacity Emissions Intensity (GW/GWh) (tCO2e/MWh) 30 30.0 25 0.29 25 25.0 0.27 18.92 20 16.8 20.0 Under 5.1 construction 15 12.9 3.7 15.0 0.15 Installed 10 3.5 10.0 13.1 13.8 5 9.4 5.0 0 0.0 2023 2024 End-Jun 2025 2028 Target 2023 2024 2028 (I

  23. Slide 23: 2024-2028: A Focused Capital Allocation Plan

    2024-2028: A Focused Capital Allocation Plan Driving energy transition Renewables Business-As-Usual Continue to grow in 75% Investments into hydrogen-ready key markets assets (8%) and replacement capex (2%) to maintain strong cash flow generation and fund green investments S$14bn 2024-2028 Investmen

  24. Slide 24: Strong Access to Diversified Funding Sources

    Strong Access to Diversified Funding Sources Strong Operational Free Cash Flow (S$ million) Integrated Urban S$14bn 1,962 1,790 1,722 Solutions 5% Replacement 1,335 capex 2% Hydrogen-ready 719 Decarbonisation assets 8% Solutions 10% Operating 50% Cash Flow 2020 2021 2022 2023 2024 Cash Flow from Inv

  25. Slide 25: Ensuring Sustainable Returns to Drive Energy Transition

    Ensuring Sustainable Returns to Drive Energy Transition Net Profit1 6-year CAGR Expected Investment 2028 Estimated ROE (2022-2028) (2024-2028) Gas and Related -2% S$1 billion 15% Services Renewables +25% S$11 billion 10% Integrated Urban Solutions +9% S$0.7 billion 10% Decarbonisation • Capitalise o

  26. Slide 26: Appendix

    Appendix © Sembcorp Industries

  27. Slide 27: Gas and Related Services Portfolio

    Gas and Related Services Portfolio Supporting Developing Asia’s Need for Energy Gross Capacity1 8.0GW Gas and Diesel 8.0GW UK Global track record as an originator, owner, 684MW 128MW investor, operator and optimiser of energy China assets 658MW Strong technical, operational and management capabiliti

  28. Slide 28: Singapore: Bridging the Energy Transition

    Singapore: Bridging the Energy Transition New Hydrogen Ready Gas-Fired Power Plant Acquisition in Senoko Energy • On track for completion by end-2026 • Acquired 50% stake in Senoko Energy • Includes a multi-utilities centre to supply power, • Complementary to existing portfolio and enhance steam, fi

  29. Slide 29: Established Asian Renewables Player Across Key Segments

    Established Asian Renewables Player Across Key Segments Gross Capacity1 18.9GW Wind 7.8GW Solar 8.8GW UK 420MWh Hydropower 49MW China 4,851MW 3,719MW 110MW 690MWh Energy storage 2.3GWh Oman Vietnam One of the largest wind portfolios under in-house asset 500MW 138MW 270MW 49MW management in India Phi

  30. Slide 30: Sembcorp Urban at a Glance

    OVERVIEW Sembcorp Urban at a Glance Primary Income Streams Operating across 3 countries - Vietnam, Indonesia & China Land sales • 24 large-scale developments >1,000 industrial companies • Land area of ~14,800ha comprising industrial, commercial located in our industrial parks and residential land Cr

  31. Slide 31: Our Water Capabilities

    Our Water Capabilities Providing Sustainable Water Solutions Across Markets Gross Capacity Per Day 8.1 million m3 Industrial Water & 6.7 million m3 Wastewater Treatment Seawater Desalination 0.7 million m3 UK 0.5 million m3 Municipal Water 0.4 million m3 China Water Reclamation 0.3 million m3 0.04 m

  32. Slide 32: Disclaimer

    Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, estimates, projections and assumptions about future events. Although Sembcorp Industries believes

  33. Slide 33: For more information, please contact

    For more information, please contact investorrelations@sembcorp.com LING Xin Jin Thomas TEO Sam TRINH Head, Group Corporate Senior Manager, Group Corporate Manager, Group Corporate Communications & Investor Relations Communications & Investor Relations Communications & Investor Relations ling.xinjin

Sembcorp Industries — Investor Presentation (September 2025) on 6ix