Keppel Ltd. · SGX:BN4
Keppel — Non-Deal Roadshow (March 2025)
19 slides from Keppel's roadshow presentation, March 2025
Slide 1: A leading global asset manager & operator
A leading global asset manager & operator Presentation to Investors in Hong Kong March 2025
Slide 2: Building a global champion
Building a global champion We provide sustainability and connectivity solutions that the world needs IPE Real Assets Keppel’s Trusted Top 100 Infrastructure diversified portfolio investment partner Managers 2024 Average internal largest globally $88b Funds under Managementi 20% rate of return across
Slide 3: Seizing opportunities backed by structural tailwinds
Seizing opportunities backed by structural tailwinds Keppel is meeting the growing demand for alternative real assets across climate change, the energy transition, urbanisation, digitalisation and the AI wave Keppel’s pipeline of high-quality proprietary assets support these global megatrends Keppel
Slide 4: Delivering strong performance
Delivering strong performance Committed to growing recurring income and driving asset monetisation to create value for our shareholders and LPs Net profiti Recurring income Asset monetisation $1,064m $766m $7b FY 2024 net profit grew 5% from Constituted 72% of FY 2024 net profiti, Cumulative since O
Slide 5: Focused on rewarding shareholders
Focused on rewarding shareholders Strong dividend track record Robust TSR (per share) (3-year annualised return: 2022-2024) $2.70 34.8% 2.36 $0.33 $0.34 0.18 0.19 0.19 11.9% 0.15 0.15 0.15 FY22 FY23 FY24 STI Keppel Interim cash Final cash In-specie i Source: Bloomberg © Keppel i Includes the distrib
Slide 6: Driving asset-light growth with FUM
Driving asset-light growth with FUM Assets on balance sheet Funds under managementi Asset management feesii -14% 25% 2.4x CAGR $32.1b $88b $436m $27.7b $37b $180m 2020 2024 2020 2024 2020 2024 i Gross asset value of investments and uninvested capital commitments on a leveraged basis is used to proje
Slide 7: Propelling Keppel towards $200b FUM by 2030
Propelling Keppel towards $200b FUM by 2030 Focused on driving organic FUMi growth Well positioned to • Drive fundraising for flagship funds seize opportunities • Expand with Aermont Capital as European platform Dry powderii • Strategic co-investments with private funds • Explore opportunistic M&A $
Slide 8: Hyperscale AI-ready data centre campus in Singapore
Executing complex multi-stakeholder deals Hyperscale AI-ready data centre campus in Singapore First two buildings at Keppel Data Centre Campus divested to Keppel DC REIT for $1.38b; third building will be developed by Keppel DC Funds II and III Keppel & Private funds >50% IRR over past 5 years 3x ov
Slide 9: Seizing unique opportunities in digital infrastructure
Seizing unique opportunities in Bifrost Cable System digital infrastructure • 1st subsea cable linking West Coast of USA directly to Singapore through Guam Subsea Cable Systems Pursuing two other cable systems with over 30 fibre pairs • Connecting Southeast Asia to the rest of Asia and beyond Bifros
Slide 10: Showcasing engineering and project management prowess
Showcasing engineering and project management prowess HKIWMF Hong Kong’s 1st large-scale integrated waste management facility built on an artificial island off the coast of Shek Kwu Chau Engineering marvel modules constructed offsite and towed onsite $5.3b Total contract value 15-year O&M contract ©
Slide 11: Keppel is a trusted ecosystem partner for sustainability and connectivity solutions
Keppel is a trusted ecosystem partner for sustainability and connectivity solutions, well-positioned to deliver strong returns to shareholders and LPs © Keppel 11
Slide 12: Appendices
1 H BPP PEP PEE 00003000303 — : es 2S Appendices 12
Slide 13: Diverse offerings providing strong returns
Diverse offerings providing strong returns Keppel’s investment solutions comprise a myriad of infrastructure, real estate and connectivity strategies across the risk-return spectrum © Keppel 13
Slide 14: Scaling integrated power business
Scaling integrated power business Keppel plans to double power capacity to 3.0 GW by 2030 through power generation and the importation of low carbon electricity Organic growth in capacity and reduction in carbon intensity 2030 2024 Doubling 1.5 GW 3.0 GW High-efficiency capacity Low-carbon gas turbi
Slide 15: Providing essential infrastructure and solutions
Providing essential infrastructure and solutions Keppel’s suite of decarbonisation and sustainability solutions spans Energy-as-a-Service, Waste-to-Energy technology solutions and waste & water management services $6b Revenue from long-term contracts spanning 10 - 15 years >$100m p.a. EBITDA generat
Slide 16: Enhancing assets through Sustainable Urban Renewal
Enhancing assets through Sustainable Urban Renewal Keppel’s Sustainable Urban Renewal solutions deploy the latest technologies to create high-quality assets that deliver both strong sustainability outcomes and robust investment returns Implementing SUR solutions across six projects with a combined a
Slide 17: Expanding premier data centre portfolio
Expanding premier data centre portfolio Keppel has over two decades of experience in designing, developing and operating data centres 35 data centres across key hubs in Asia Pacific and Europei Hyperscale AI-ready DCs 220 MW of capacity in various stages of development Keppel Data Centre Taiwan Data
Slide 18: Strategic ecosystem partner
Strategic ecosystem partner As an ecosystem player, Keppel’s expertise in data centres, renewables, cooling and subsea cables positions us to drive advancements in sustainability and connectivity, while delivering attractive returns to investors Forging global tech partnerships Global partnership fo
Slide 19: 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