Keppel Ltd. · SGX:BN4
Keppel — Merger or Acquisition (April 2022)
9 slides from Keppel's merger presentation, Apr 27, 2022
Slide 1: The Creation of a Premier Global Player in Offshore Renewables, New Energy and Cleaner O&M Solutions
The Creation of a Premier Global Player in Offshore Renewables, New Energy and Cleaner O&M Solutions Media & Analyst Briefing 27 APRIL 2022
Slide 2: Rationale for the Proposed Combination
Brings together the world-class engineering capabilities, well-established track records and reputations for quality and reliability of the two companies with complementary competencies and operations Creation of a Premier Global Player for the Renewable and Clean Energy Solutions Markets Greater Sy
Slide 3: Backdrop and Prospects for the O&M Sector
Backdrop and Prospects for the O&M Sector Keppel O&M and Sembcorp Marine have built respective capabilities and track records in offshore renewables, new energy and cleaner O&M solutions Oil prices have rallied recently and medium-term market conditions have been improving for the O&M sector. Howeve
Slide 4: Proposed Combination to be Effected by Dual Scheme Structure
Proposed Combination to be Effected by Dual Scheme Structure 1 Sembcorp Marine Scheme Sembcorp Marine Keppel Corporation Sembcorp Marine Keppel O&M Other Keppel Combined Entity Business 2 Keppel O&M Less: Out-of-Scope Assets1 Businesses Scheme 3 Asset Co Transaction Asset Co 1 Sembcorp Marine Scheme
Slide 5: Proposed Combination based on a 50:50 enterprise value ratio
Proposed Combination based on a 50:50 enterprise value ratio Sembcorp Marine Keppel and its Shareholders Shareholders 44% 56% (1) S$500 million(2) Combined Entity 100% 100% Master Services (3) Agreement Sembcorp Marine Keppel O&M Asset Co Less: Out-of-Scope Assets(3) ▪ Proposed Combination is based
Slide 6: Growth opportunities in the Offshore Renewables, New Energy and Cleaner O&M Solutions Markets
Growth opportunities in the Offshore Renewables, New Energy and Cleaner O&M Solutions Markets Well-positioned for Orsted’s preferred Asian Yard Global Energy Transition Keppel O&M completed 2 offshore Sembcorp Marine secured its first offshore Offshore Renewables substations (OSS) for Taiwan and won
Slide 7: Greater Synergies from Combined Operational Capabilities, Engineering Bench Strength and Track Record
Greater Synergies from Combined Operational Capabilities, Engineering Bench Strength and Track Record Leveraging the combined technical and engineering abilities, as well as in-house design and research and development know-how, to expand its suite of technological capabilities and to carry out a wi
Slide 8: Next Steps and Timeline to Completion
Next Steps and Timeline to Completion 27 Apr 2022 2Q-4Q22 Expected 4Q22 Expected 4Q22 Signing of Transaction Development of Merger Satisfaction of Keppel EGM, Documentation Integration Plan and Conditions Precedent Sembcorp Marine EGM, Business Plan Scheme Meetings, (including Synergies) Regulatory
Slide 9: Important Notice
Important Notice This presentation should be read in conjunction with the announcements released by each of Sembcorp Marine Ltd (“Sembcorp Marine”) and Keppel Corporation Limited (“Keppel”) on the Proposed Combination on 27 April 2022. This presentation is for information only and does not constitut