Keppel Ltd. · SGX:BN4
Keppel — Shareholder Meeting (April 2025)
10 slides from Keppel's shareholder meeting presentation, Apr 21, 2025
Slide 1: Annual General Meeting
Annual General Meeting Presentation by Mr Loh Chin Hua, CEO 21 April 2025
Slide 2: The New Keppel, a global asset manager & operator
The New Keppel, a global asset manager & operator Horizontally integrated, more streamlined and agile • Platforms and divisions reinforcing one another to create stronger value • Working with world-class partners to offer superior solutions © Keppel 2
Slide 3: Achieved stronger results
Achieved stronger results Net profit +5% FY24 net profit of $1,064m $1,064m from continuing operations was $1,015m 5% higher yoy, excluding legacy 127 184 O&M assetsi 315 306 Including legacy O&M assets and discontinued operations, net profit was $940m 699 673 All three segments were profitable, wit
Slide 4: Delivering on transformation
Delivering on transformation Recurring income Asset monetisation Keppel can attract a growth multiple with 72% $7b more recurring income. $766m constituted Cumulative asset monetisation since Oct 2020 72% of FY24 net profiti, was close to $7b, including $1.5b in 2024. Most analysts have up from 56%
Slide 5: Rewarding shareholders
Rewarding shareholders In accelerating growth as a leading global asset manager and operator, Keppel will continue to focus on driving shareholder value Strong dividend track record Robust TSR (per share) (3-year annualised return: 2022-2024) $2.70 $0.19 /share 2.36 34.8% $0.33 $0.34 Proposed FY24 f
Slide 6: Gaining momentum as a global asset manager
Gaining momentum Expanded into new asset classes & markets: as a global asset • from mainly real estate to infrastructure, connectivity and private credit manager • from mainly APAC to Europe with Aermont Funds under managementi Asset management feesii IPE Real Assets Top 100 Infrastructure 2.4x $88
Slide 7: Strong operating divisions
Strong operating divisions Infrastructure Real Estate Connectivity Amplified growth with Pivoting to asset-light Seizing growth from robust recurring income Real Estate-as-a-Service digitalisation and AI wave Seizing opportunities across the Leverage strong track record Fast-growing ecosystem player
Slide 8: On the recent US tariffs
On the recent US tariffs • Limited direct impact from the US tariffs expected, as Keppel is not involved in the manufacturing or export sectors • Keppel provides many essential services, as seen during the COVID-19 pandemic, generate stable recurring income • Meeting demand for alternative real asse
Slide 9: Keppel's transformation has positioned us to thrive in a volatile future
Keppel's transformation has positioned us to thrive in a volatile future Seizing opportunities as an integrated ecosystem partner Harnessing cloud and AI to drive competitive advantage Delivering strong returns to shareholders and Limited Partners © Keppel 9
Slide 10: 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