Slide 1: 3Q & 9M 2024 Business Update
3Q & 9M 2024 Business Update 24 October 2024
Slide 2: Strong progress as New Keppel
Strong progress as New Keppel Higher asset management fees Robust performance in Infrastructure Asset management feesi grew 68% yoy to 71% of contracted power generation capacity $299m in 9M24 locked in for 3 years & above $5.4b decarbonisation and sustainability solutions contracts with 10 to 15-ye
Slide 3: Performance update for 3Q & 9M 2024
Performance update for 3Q & 9M 2024 Recurring income grew 14% yoy in 9M24, Net profit was comparable yoy in 9M24, driven by stronger contributions from asset excluding effects of legacy O&M assetsi management and operating income 3Q24 net profit, excluding effects of legacy O&M assets, was lower yoy
Slide 4: Asset-light strategy gaining momentum
Asset-light strategy gaining momentum Advancing asset $6.1b $730m monetisation Cumulative asset monetisation Monetisation in YTD 2024, mainly from announced since Oct 2020 real estate projects and legacy assets Assets on balance sheet Funds under managementi -15% >2x Driving capital- efficient growt
Slide 5: Driving growth in asset management
Driving growth in asset management Asset management feesi Equity raised Acquisitions & Dry powder Deal flow YTD 2024ii divestments YTD 2024ii for deployment pipeline $299m in 9M24 $0.7b $3.0b $25b $25b 68% higher yoy, driven by stronger performance across all segments Strong LP interest in flagship
Slide 6: Plans to double power capacity by 2030 to support Singapore's growing energy needs
Plans to double power capacity by 2030 to support Singapore’s growing energy needs Singapore’s peak electricity demand is forecast to grow from 8.3 GW in 2024 to 11 GW in 2030i 1.3 GW 1.5 GW 2.1 GW 2.2 GW 3.0 GW 2022 2024 2026 2028 2030 1,300 MW power + 200 MW + 600 MW power + 300 MW + 600 MW power
Slide 7: Strong growth in decarbonisation and sustainability solutions
Strong growth in decarbonisation and sustainability solutions $5.4b 2.5x Growing presence in Asian markets Contracted income, to be Target growth in earned over 10-15 years EBITDA by 2027 Singapore China Unlocking energy India Thailand Vietnam transition initiatives • Shortlisted by EMA and MPAi to
Slide 8: Continuing strong performance in Infrastructure
Continuing strong performance in Infrastructure Integrated Power Business Decarbonisation & Sustainability Solutions • 71% of contracted generation • Diversified customer base • $5.4b of contracted income to be delivered over capacityi was locked in for 3 years 10-15 years, building up recurring cas
Slide 9: Growing traction in asset-light real estate solutions
Growing traction in asset-light real estate solutions Asset monetisation Implementing SUR solutions across 6 projects with a combined asset value of $3.2bi • Announced monetisation of $620m of real estate projects YTD 2024 Real Estate-as-a-Service • Providing green and smart city consultancy service
Slide 10: A growing premier data centre portfolio
A growing premier data centre portfolio Keppel has over two decades of experience in designing, developing and operating data centres. 35 data centres across Asia Pacific and Europei 650 MW current gross power capacity, c. 70% of which is operational Singapore: 200 MW Rest of Asia Pacific: 350 MW Eu
Slide 11: Positioned to seize opportunities from rising demand for AI-ready data centres
Positioned to seize opportunities from rising demand for AI-ready data centres Keppel Data Centre Campus, Taiwan Data Centre Campus Western Tokyo Data Centre Singapore Hyperscale AI-ready DCs 220 MW of capacityi in various stages of development READY FOR SERVICE: 3 buildings from 2023 to 2027 Phase
Slide 12: Putting everything together
Putting everything together Keppel’s Integrated Data Centre Ecosystem Capital Access to capital: Multiple capital pools through private funds, balance sheet and listed REIT Power Water Cooling Networks Enterprise Innovation Renewable / Best-in-class Liquid cooling Subsea cable systems Managed & hybr
Slide 13: Bolstering Keppel's growth through data centres
Bolstering Keppel’s growth through data centres 1 Drive asset-light FUMi growth 2 Generate multiple income streams As asset Management fees Carried interest manager: Asset management fees 2.1x Acquisition & divestment fees $19b As operator: Operating income Share of income Capital Project developmen
Slide 14: Growing DC business at speed and scale
Growing DC business at speed and scale Keppel has what it takes • Access to substantial investment capital • Deep expertise & domain knowledge • Access to power and other critical resources • Technology & innovation • Strong customer relationships © Keppel 14
Slide 15: A leading global asset manager and operator
A leading global asset manager and operator Seizing opportunities Specialised in Horizontally integrated from macrotrends alternative real assets business model Meeting rising global Matching investment DNA of an asset demand for alternative capital with sustainability manager and strong real assets
Slide 16: Appendix
Appendix 16
Slide 17: Real Estate Division updates
Real Estate Division updates As of end-Sep 2024 Residential landbank Units % Commercial portfolioi GFA (sm) % Singapore 87,510 5% Singapore 133 1% China 536,340 31% China 15,707 44% Vietnam 401,210 24% Vietnam 8,275 23% India 399,390 23% Indonesia 7,092 20% Indonesia 153,800 9% Other SEA countries 1
Slide 18: Connectivity Division updates
Connectivity Division updates As of end-Sep 2024 Data centre Owned by Keppel Owned by Keppel M1’s customers 30 Sep 2023 30 Sep 2024 portfolio DC REIT & private fundsi (‘000) Geographical Asia Pacific, Asia Pacific, Postpaid 1,942 1,905 presence Europe Europe No of assets 23 10 Prepaid 368 356 Attrib
Slide 19: Vision 2030 asset monetisation
Vision 2030 asset monetisation Announced since the start of asset Asset Country Value ($m) monetisation programme in Oct 2020 50 million Dyna-Mac warrants Singapore 4.3 Period Value ($m) 25% stake in a joint venture that provides O&M services to the 2020 1,238.4 China 4.0 Guangzhou Baiyun Internatio
Slide 20: 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