Slide 1: 1H 2026 Results Presentation
1H 2026 Results Presentation 13 August 2026 Newport Plaza I Singapore Artist’s impression
Slide 2: Agenda
Agenda Performance Highlights Financial Highlights Operations Review Singapore Operations International Operations Hospitality The Archive I Melbourne
Slide 3: Performance Highlights
Performance Highlights Newport Plaza I Singapore Artist’s impression
Slide 4: Financial Highlights 1H 2026: Key Performance Highlights
Financial Highlights 1H 2026 Key Performance Highlights Revenue EBITDA $2.7B $694.1MM ▲ 61.1% ▲ 25.9% Newport Residences sales gallery Lumina Grand 1H 2025: $1.7B 1H 2025: $551.2MM SUMMARY Revenue: PBT PATMI Revenue rose 61.1% to $2.7B in 1H 2026, driven by the strong performance of the property d
Slide 5: Key Highlights 1H 2026
Key Highlights 1H 2026 1 Resilient Operational Performance 2 Strong Fundamentals Resilient SG residential sales Diversified SG launch pipeline with 1 new launch (246 units) with 2 new GLS sites secured Newport Residences (83% sold2) Tanjong Rhu Road Peck Hay Road $892MM 352 ~2,200 5 sales valu
Slide 6: Net Asset Value & Shareholder Returns 1H 2026
Net Asset Value & Shareholder Returns 1H 2026 Key Performance Highlights NAV1 Total Dividend 1H 2026 Share Price Performance $10.74 6.0 $7.77 per share cents per share per share - ▲ 100.0% y-o-y ▼ 2.9% 31 Dec 2025: $10.74 per share 1H 2025: 3.0 cents per share RNAV RNAV Highest - $10.00 (24 Feb) (wi
Slide 7: Global Portfolio Overview
Global Portfolio Overview Segment Analysis as of 30 Jun 2026 Total Assets Segment Analysis Others Others 16% 6% US DP IP 7% Assets by 40% Assets by SG 29% Geography 42% Business $27B China Segment 16% UK Hotel 19% 25% With Fair Value of IPs & Hotels Others Others 3% 16% DP US 31% 5% SG IP Assets by
Slide 8: Singapore Property Development Project Completions
Singapore Property Development Project Completions Completed Lumina Grand (EC) in Apr 2026 and Norwood Grand in Aug 2026 Another 2 project completions expected in Q4 2026 Completed Projects Upcoming Project Completions Lumina Grand (512 units) 2 projects (1,104 units) expected to be completed
Slide 9: Singapore Residential Launch Pipeline
Singapore Residential Launch Pipeline Disciplined land replenishment strategy Secured 2 prime GLS sites in 1H 2026 Targeted Launches Jan 2026 Launch Lucerne Grand Oct 2026 Newport Residences Wynwood Grand Q1 2027 (246 units) Solano Grand Q1 2027 Wynwood Grand (EC) 83% sold4 Est 430 units3 Tanjon
Slide 10: Upcoming Residential Launch – Lucerne Grand
Upcoming Residential Launch – Lucerne Grand Rare mixed-use development linked to Lakeside MRT station I Launch date: Oct 2026 Equity Total Site Area Total Saleable Location Tenure Stake Units (sq ft) Area (sq ft) Lakeside Drive 99-year 100% 570 145,152 Approx. 506,000 5 17-storey Supermarket and F&B
Slide 11: Singapore Commercial Pipeline New Grade A Office Space
Singapore Commercial Pipeline New Grade A Office Space 470,000 sq ft of Grade A office space across 2 large-scale mixed-use developments – Newport Plaza and Union Square Pipeline will increase the Group’s Singapore office NLA by ~40% (to ~1.7MM sq ft) in 2029 Net Lettable Expected Location Area
Slide 12: Global Hotel Portfolio Ongoing Revamps
Global Hotel Portfolio Ongoing Revamps Reopened: Millennium Premier New York Times Square in June 2026 Millennium Hotel Broadway Times Square 626 rooms I Expected completion: Q4 2026 New development: M Social Hotel Sunnyvale to open in Q4 2026 Millennium Premier New York Times Square 124 rooms I
Slide 13: Industry & Sustainability Recognition
Industry & Sustainability Recognition Recent Highlights Recognised on 14leading global sustainability ratings, rankings & indexes Winner: Community Engagement Only Company in Southeast Asia & Top Singapore Company; Only Only Singapore-based Hong Kong to Maintain Double ‘A’s Singapore Company Listed
Slide 14: Strategic Review
Strategic Review >>> TO BE ANNOUNCED BY END-SEP 2026 Future strategic Capital allocation Implementation direction framework roadmap
Slide 15: Financial Highlights
Financial Highlights Lumina Grand I Singapore
Slide 16: Segmental Analysis Overview
Segmental Analysis Overview 1H 2025 ($MM) 1H 2026 ($MM) y-o-y Revenue growth across all business segments Revenue 1,688 2,720 ▲61.1% Strong EBITDA and PBT growth of 25.9% and 188.6% respectively y-o-y, led EBITDA 551 694 ▲25.9% by Property Development segment PBT 140 404 ▲188.6% Revenue ($MM) EB
Slide 17: Segmental Analysis Revenue
Segmental Analysis Revenue 1H 2026 1H 2025 y-o-y Revenue $2,720MM $1,688MM ▲ 61.1% Revenue Contribution by Segment Property Hotel Investment Others Investment Others (5%) Properties Development Operations Properties (9%) $MM 2,000 Property 1H 2026 1,556 Development 1,600 Total (57%) Hotel $2,720MM 1
Slide 18: Segmental Analysis EBITDA
Segmental Analysis EBITDA 1H 2026 1H 2025 y-o-y EBITDA $694MM $551MM ▲26% EBITDA Contribution by Segment Property Hotel Investment Others Others (1%) Development Operations Properties Investment $MM Properties 391 (26%) 400 Property 1H 2026 Development Total (56%) 300 $694MM 234 198 200 181 Hotel Op
Slide 19: Segmental Analysis PBT
Segmental Analysis PBT 1H 2026 1H 2025 y-o-y PBT $404MM $140MM ▲188.6% PBT Contribution by Segment Property Hotel Investment Others Development Operations Properties Investment Others Properties -1% Hotel 7% $MM Operations 400 338 10% 300 200 152 1H 2026 76 Total 100 42 29 $404MM 0 Property (4) (5)
Slide 20: Prudent Capital Management
Prudent Capital Management As of 30 Jun 2026 Well-Spread Debt Maturity Profile Key Credit Metrics FY 2025 1H 2026 Gearing increased by 4% in 2026, largely due to the payment Total Gross Borrowings: $13.9B Net Gearing1 for GLS sites at 71% 75% Others (2.9%) (include fair value) Tanjong Rhu and EUR (3
Slide 21: Capital Management – High Natural Hedge
Capital Management – High Natural Hedge As of 30 Jun 2026 Substantially 76% natural hedge for the key geographical markets the Group operates in GBP RMB USD JPY AUD Natural Hedge Natural Hedge Natural Hedge Natural Hedge Natural Hedge 99% 59% 43% 90% 68% $MM 6,000 5,298 5,223 5,000 4,339 4,000 3,000
Slide 22: Operations Review
Operations Review Union Square | Singapore Artist’s impression
Slide 23: Singapore Residential Property Market
Singapore Residential Property Market Property Price Index – Residential (2015 – Q2 2026) Q2 2026 Price Increase (+2.9% y-o-y) In Q2 2026, residential prices increased by 0.5% q-o-q, lower than the 0.9% increase in the All Residential previous quarter. Q2 26: 219.4 220 200 180 160 140 120 Q1 Q2 Q3 Q
Slide 24: Singapore Private Residential Property Market 1H 2026
Singapore Private Residential Property Market 1H 2026 Q2 2026 Property Price Index (PPI) 1H 2026 Sales Volume ‒ 0.5% q-o-q ( 0.9% q-o-q in Q1) ‒ 4,154 units (excl. 1,343 ECs) ‒ 2.9% y-o-y ‒ vs 4,587 units in 1H 2025 (excl. 979 ECs) Project launches remained strong and resilient, signalling su
Slide 25: Singapore Property Development 1H 2026
Singapore Property Development 1H 2026 Residential sales anchored by the launch of Newport Residences 1H 2026 Residential Sales Total Sales Value Total Units Sold1 $892.2MM 352 Total units 83% 246 $ sold2 Newport Residences – Sky Club Artist’s Impression 1 Includes Executive Condominiums (ECs) and s
Slide 26: Singapore Property Development Performance Overview
Singapore Property Development Performance Overview Steady Sales for Launches from 2019 Launch Year Project Location Tenure Total Units Units Sold1 % Sold1 2026 Newport Residences Anson Road Freehold 246 203 83% Zyon Grand Kim Seng Road 99 years 706 636 90% 2025 The Orie Lorong 1 Toa Payoh 99 years
Slide 27: Singapore Commercial Market
Singapore Commercial Market Property Price Index – Commercial (2015 – Q2 2026) 150 Office Retail Q2 2026 Price Increase 140 (-0.4% y-o-y) In Q2 2026, office prices increased by 0.4% q-o-q, higher than the 0.2% registered in the previous quarter. 130 120 Q2 26: 111.3 110 Q2 26: 104.4 100 Q2 2026 Pric
Slide 28: Singapore Commercial Market
Singapore Commercial Market Property Rental Index – Commercial (2015 – Q2 2026) Q2 2026 Rental Increase 250 (+0.9% y-o-y) In Q2 2026, office rents increased by Office Retail 0.8% q-o-q, compared with the 0.2% decrease in the previous quarter. 200 Q2 26: 201.8 150 100 Q2 26: 80.6 Q2 2026 Rental Incre
Slide 29: Singapore Commercial Portfolio Occupancy
Singapore Commercial Portfolio Occupancy As of 30 Jun 2026 High committed occupancy underpins stable income visibility across the commercial portfolio Well-distributed lease expiry profile supports proactive asset management and long-term portfolio performance Office Space Lease Expiry Profile (
Slide 30: Singapore Commercial Portfolio Trade Mix
Singapore Commercial Portfolio Trade Mix As of 30 Jun 2026 Diversified trade mix across office and retail assets Enhances income resilience and reduce sector concentration risks Office Retail The Group’s diversified trade mix enhances income stability and mitigates The Group’s retail trade mix r
Slide 31: International Operations Australia
International Operations Australia Focus on Residential Developments across Eastern Seaboard 2 451 1 2 Cities Development Types Brisbane & Melbourne Residential Units PRS | BTS Brisbane (484 units) Melbourne (293 units) Brickworks Park2 Fitzroy Fitzroy 158 units | BTS 56 units | BTS • 98% sold • 73%
Slide 32: International Operations China
International Operations China Focus on Tier 1 and Tier 2 Cities 3 RMB 233.0MM2 52 2 Cities Total Sales Value Total Units Sold Suzhou, Shenzhen & Shanghai Shanghai ( 上海) Shanghai Xintiandi project Shenzhen (深圳) Rare mixed-use JV development site in Hong Leong Technology Park Shenzhen Xintiandi: (丰隆深
Slide 33: International Operations Japan
International Operations Japan Robust Performance Highlights the Resilience of Japan’s PRS 4 2,246 40 >95% 1 Cities Assets Occupancy Tokyo, Osaka, Yokohama & Saitama Units Japan PRS Portfolio Saitama (115) 5% Yokohama (468) Tokyo Saitama 21% (866) City Assets Units 39% Tokyo Units Tokyo 26 866 Distr
Slide 34: International Operations UK
International Operations UK Residential Portfolio London 4 1,505 3 The YardHouse 209 units | PRS | White City Cities Development Types PRS Units PRS | BTS | PP Construction in progress for the Group’s first co-living project, with Artist’s Impression estimated completion in Q4 2026 Leeds The Junctio
Slide 35: International Operations UK
International Operations UK Purpose-Built Student Accommodation (PBSA) Portfolio 5 Cities 6 Trinity View, Coventry Infinity, Coventry Assets Leeds 2,368 Beds Riverside, Canterbury Altura, Birmingham Birmingham Coventry 80% Canterbury Occupancy Southampton Cumberland Place, Southampton Sycamore House
Slide 36: International Operations UK
International Operations UK Commercial Portfolio Occupancy (as of 30 June 2026) Committed occupancy across the Group’s UK commercial portfolio strengthened marginally to 85.8% (+0.8% y-o-y), on the back of newly concluded tenancies for previous unoccupied space WALE held firm at 6.3 years, underscor
Slide 37: International Operations UK
International Operations UK Commercial Portfolio Trade Mix (as of 30 June 2026) Diversified tenant mix spanning office and retail portfolios Office: Resilient tenant mix underpinned by major institutional tenants operating within the Telecommunications & Media, Financial Services, and Professional S
Slide 38: Hotel Operations Trading Performance 1H 2026
Hotel Operations Trading Performance 1H 2026 1H 2026 1H 2025 Change $MM $MM % Revenue 781.2 735.3 6.2 EBITDA 118.7 94.3 25.9 PBT 42.0 (84.4) NM Revenue: M Social Hotel New York Downtown • Global RevPAR increased 4.9% y-o-y, average room rate up 1.9% and occupancy up 2.1% points. EBITDA: • Largely fr
Slide 39: Hotel Operations (1H 2026 vs 1H 2025)
Hotel Operations (1H 2026 vs 1H 2025) Hotel Occupancy, Average Room Rate, and RevPAR and GOP Margin by Region for CDL Group Room Occupancy Average Room Rate RevPAR GOP Margin 1H 1H Incr / 1H 1H Incr / 1H 1H Incr / 1H 1H Incr / 1 2026 2025 (Decr) 2026 2025 (Decr) 2026 20251 (Decr) 2026 2025 (Decr) %
Slide 40: CDL Hospitality Trusts (CDLHT)
CDL Hospitality Trusts (CDLHT) 1H 2026 Trading Performance 1H 2026 1H 2025 Change $MM $MM % Gross Revenue 126.9 125.1 1.4 Net Property Income (NPI) 59.7 58.6 1.8 Performance Overview: The conflict in the Middle East weighed on the portfolio to varying degrees, with reduced air capacity from Middle
Slide 41: CDLHT – 1H 2026 Performance Overview
CDLHT – 1H 2026 Performance Overview Y-o-Y change in Country Remarks RevPAR (%) RevPAR rose as Singapore’s standing as a stable gateway destination, diversified demand drivers and steady events pipeline continued to support performance amidst a broader travel moderation. International visitor arriva
Slide 42: Disclaimer
Disclaimer: This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions
Slide 43: Our Vision, Mission and Values
OUR VISION: We aim to be recognised by customers, employees and peers as an innovative creator of quality and sustainable spaces. OUR MISSION: C onceptualise spaces and solutions R espect planet Earth E ncourage diversity of people and ideas A dvance the communities we operate in T ake prudent risk