Keppel Ltd. · SGX:BN4
Keppel — 9M 2026 Earnings Presentation
16 slides from Keppel's earnings presentation, Oct 29, 2026
Slide 1: 3Q & 9M 2026 Business Update
3Q & 9M 2026 Business Update 29 October 2026
Slide 2: Highlights of 3Q & 9M 2026
Highlights of 3Q & 9M 2026 • The New Keppel’s net profit was close to 15% higher yoy for 3Q26 and more than 20% higher yoy in 9M26. • Accelerating asset management growth • Surpassed $100b FUM target by Jul 2026, with $19.5b new FUM addedi in YTD 2026 • Asset management fees grew 18% yoy to $354m in
Slide 3: Robust performance in 3Q and 9M 2026
Robust performance in 3Q and 9M 2026 The New Keppel continued to perform strongly NET PROFIT RECURRING INCOME Close to 15% higher yoy >20% higher yoy >10% higher yoy In 3Q26, led by stronger In 9M26, underpinned by In 9M26, with improvements Connectivity earnings and stronger Infrastructure and acro
Slide 4: Driving asset monetisation
Driving asset monetisation Keppel exceeded full-year announced asset monetisation target of $2-3b. Announced transactions $3.7b YTD 2026, including the proposed divestment of Keppel South Centrali Completed and realised c. $940m c. $600m YTD 2026; Keppel aims to Pending completion of monetisation pa
Slide 5: Update on monetisation of legacy rigs
Update on monetisation of legacy rigs Stronger demand for rigs amidst higher utilisation rates underpinned by structural supply constraints, ageing global fleet and heightened focus on energy security. Phased completion of four work-in-progress offshore rigs • Drillship and harsh environment jackup
Slide 6: Accelerating growth in asset management
Accelerating growth in asset management Surpassed $100b FUM Asset management fees target ahead of schedule 18% Acquisitions $19.5b $354m $4.5b in 9M26 New FUM addedi in YTD 2026 $299m 52 41 Divestments Expanding offerings 195 $3.5b in 9M26 Keppel and Apollo to explore 204 large-scale private capital
Slide 7: Sustaining strong performance in Infrastructure
Sustaining strong performance in Infrastructure The Operating Division improved on its performance yoy in 9M26. Integrated Power Business • 9M26 EBITDA increased 7% yoy • 43% of power capacity contracted for 3 years and above; opportunities to secure long-term power sales amid tight supply-demand wi
Slide 8: Advancing the digital infrastructure stack
Advancing the digital infrastructure stack Keppel’s integrated platform for energy and digital infrastructure provides essential solutions, supporting the operations of businesses, industries and economies. LOW CARBON Appointed aggregator for 120 MW of biomethane SUBSEA Secured FBOiii licence for Kr
Slide 9: Appendix
Appendix 9
Slide 10: Infrastructure Division updates
Infrastructure Division updates Integrated Power Business Decarbonisation & Sustainable Solutions • Appointed aggregator for 120 MW • Trailing twelve-month Biopolis DCS 106 MWt / 30 kRT of biomethane under Singapore’s book-to-bill ratio of 3.5x Biomethane Sandbox initiative for • Secured new long-te
Slide 11: Real Estate Division updates
Real Estate Division updates As at end-Sep 2026 • Announced over $2.4b of real Residential landbank Units % estate monetisation YTD 2026, Singapore 86 1% including a 40% stake in China 13,366 43% Empire City in Vietnam and Vietnam 10,016 32% 51% interest in Keppel South Indonesia 4,415 14% Centrali
Slide 12: Connectivity Division updates
Connectivity Division updates Keppel’s growing portfolio spans 39 data centres across Asia Pacific and Europe, with a gross power capacity of ~900 MWi. As at end-Sep 2026 • Awarded 50 MW of new data centre capacity under Singapore’s DC-CFA2ii Data centre Owned by Owned/Developed by portfolio Keppel
Slide 13: Asset monetisation programme
Asset monetisation programme Announced since the start of asset monetisation Asset monetisation announced in YTD 2026 Country Value ($m) programme in Oct 2020 86.83% stake in Keppel Philippines Properties, Inc. Philippines 10 Period Value ($m) i12 Katong Singapore 372 2020 1,238 2021 Rigco’s six ope
Slide 14: Glossary
Glossary (Information in this presentation should be read in conjunction with this glossary.) Term Definition Asset Fees for providing management and other services to funds, listed REITs and Trust. Such fees include acquisition fee, management fee, Management Fees divestment fee and carry. It is ba
Slide 15: Glossary (Cont.)
Glossary (Cont.) (Information in this presentation should be read in conjunction with this glossary.) Term Definition EBITDA Profit before depreciation, amortisation, net interest expense and tax i.e. it includes share of results of associates and joint ventures. Funds under Gross asset value of inv
Slide 16: 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