1H FY26 Financial Results Presentation Slides

‌1H FY2026 Financial Results‌

30 January 2026

‌Content

1. Financial Highlights

2. Business Highlights

3. Q&A

   Guoco Tower, Singapore

   
   
   ‌Financial Highlights

   3

   Guoco Midtown II, Singapore

   
   
   

   ‌1H FY26 key financial highlights

   -22%

   Revenue

   S$792m

   1%

   Profit before tax

   S$119m

   14%

   Attributable profit

   S$85m

   -0.03x

   Debt1-to-assets

   0.41x

   
   
   

   ‌Twin-engine growth strategy underpins results

   Revenue by key business

   (S$' million)

   Operating profit by key business

   (S$' million)

   1H FY2025

   1H FY2026

   Property Development

   1H FY2025

   Property Investment

   1H FY2026

   60

For 1H FY26, share of profits from associates and joint ventures grew to S$5.3 million. The substantially sold joint venture residential projects

- Springleaf Residence, Faber Residence and Penrith - will contribute to the Group's earnings as construction progresses.

‌Singapore remains a key contributor to the Group

Assets by key segments1

Overseas

21%

S$11.19b

Singapore

79%

Revenue by key segments1

Overseas

27%

S$755.16m

Singapore

73%

Figures as at 31 December 2025

‌Growing recurring income base

FY2017

Guoco Tower began operations

FY2022

Guoco Changfeng City (South Tower) began operations

FY2023

Guoco Midtown began operations

FY2024

Guoco Midtown fully operational

FY2025

Guoco Midtown II began operations

1H FY2026

Guoco Midtown II fully operational

Lentor Modern mall

began operations

S$' million

3,053

70

4,975

115

5,932 6,203

126

170

6,785 6,971 7,003

281

230

143

19%

Recurring income CAGR from FY2017 to FY2025

FY2017 FY2021 FY2022 FY2023 FY2024 FY2025 1H FY2026

Investment properties asset value Rental revenue and related income

‌Prudent capital management

Group loans & borrowings (S$' million)

5,484

4,801

30 June 2025

31 December 2025

Property Development (Singapore)

Property Development (Overseas) Property Investment

Debt profile is backed by high-quality

assets in Singapore

• Total loans and borrowings fell 12% y-o-y to S$4.8 billion as development loans were progressively repaid with sales proceeds received

• Borrowings are backed by a resilient portfolio of high-quality investment properties with good operating performance and stable, growing recurring cash flows, as well as development projects with strong sales progress

• Project loans and borrowings in China were S$87 million (or 2% of total loans and borrowings)

‌Business Highlights

9

Lentor Modern, Singapore

‌Sustained demand for high-quality projects in Singapore

Springleaf Residence

Launched in Aug 2025

• 96% sold

• Developed by GuocoLand−Hong Leong

  JV (60:40)

• First high-rise development in Springleaf with a biodiversity-sensitive design approach

• Less than 2-min walk to Springleaf MRT station

• Expected completion: 2H 2029

Faber Residence

Launched in Oct 2025

• 91% sold

• Developed by GuocoLand−TID−Hong

  Leong JV (50:40:10)

• Near established schools and key business hubs

• Walking distance to future Jurong Town Hall MRT on JRL

• Waterfront development next to the

  Pandan River

• Expected completion: 1H 2029

Penrith

Launched in Oct 2025

• 97% sold

• Developed by GuocoLand-Hong Leong-Hong Realty JV (30:35:35)

• Walking distance to Queenstown MRT station

• Connected to the Alexandra Canal Linear Park and Alexandra-Queensway Park Connector

• Expected completion: 1H 2029

‌Transforming neighbourhoods

Guoco Tower

Commitment

rate: 100%

20 Collyer

Quay Commitment rate: 93%1

Guoco Midtown

Commitment rate:

100%

Midtown Modern

100% sold

Midtown Bay

67% sold

Guoco Midtown II

Retail commitment rate: 100%

CBD

A portfolio of high-quality, user-centric developments in Singapore

Lentor Modern

Completed 100% sold

Retail commitment rate: 90%2

Lentor Hills

Residences Target completion: 2H 2026

100% sold

Lentor Mansion

Target completion: 1H 2028

100% sold

Lentor Central

Residences Target completion: 2H 2028

100% sold

Lentor

Figures as at 31 December 2025 List of properties not exhaustive

1 Acquired an additional 3 floors at 20 Collyer Quay in 2025

‌Resilient demand for best-in-class investment properties

Singapore

• Office portfolio maintained high commitment rates and positive rental

  reversions

• Strong rental rates of S$12+ to S$14+ psf/month for premium Grade A offices at Guoco Tower and Guoco Midtown, which recorded 100% commitment rates

• Strong retail leasing activity with 100% commitment rate at Guoco Tower, Guoco Midtown and Guoco Midtown II; commencement of leases at Lentor Modern retail mall

  China

• Shanghai's Guoco Changfeng City (South Tower) achieved a commitment rate of 88% to date, while North Tower recorded commitment rate of almost 52%1 to date

• Tenants include major domestic players and MNCs from the USA, Austria and the Netherlands

  ‌Strengthening our track record in Singapore

  FY 2022

  FY 2023

  FY 2024

  FY 2025

  FY 2026

  
  
  

  Jul'21: Acquired 1st site in Lentor Lentor Modern, a mixed-use

  development with 605 units and a retail mall

  Jan'22: Acquired 2nd site in Lentor Lentor Hills Residences with 598 units

  Sep'22: Launched

  
  
  

  Lentor Modern

  Apr'23: Acquired 3rd Lentor site Lentor Mansion with 533 units

  Jul'23: Launched Lentor Hills Residences

  
  
  

  Sep'23: Acquired 4th

  Lentor site

  Lentor Central Residences with 477 units

  Mar'24: Launched

  Lentor Mansion

  
  
  

  Apr'24: Acquired Upper Thomson (Parcel B) site Springleaf Residence with 941 units

  Aug'24: Acquired Margaret Drive site Penrith with 462 units

  
  
  

  Nov'24: Acquired Faber

  Walk site

  Faber Residence with 399 units

  Jan'25: Acquired Tengah Garden Avenue site (~860 units)

  Feb'25: Acquired River Valley Green (Parcel B) site (455 units)

  Mar'25: Launched Lentor

  Central Residences

  Aug'25: Launched

  Springleaf Residence

  Oct'25: Launched Faber

  Residence and Penrith

  Upcoming Launches

  • River Modern

  • Tengah Garden Avenue

‌Transforming neighbourhoods with upcoming launches

‌Creating value through our twin-engine growth strategy and end-to-end capabilities

Portfolio of best-in-class investment properties

Stable recurring rental revenue from premium Grade A assets in Singapore and China

Property Property Uplifting neighbourhoods

Proficiency in identifying

high-potential sites with strong attributes, and enhancing vibrancy through high-quality developments and placemaking activities

Strong asset management capabilities

High occupancy rates with diversified tenant base, healthy weighted average lease expiry and positive rental reversions

Investment Development Reputable brand

Recognised for high-quality builds and innovative, user-centric designs

Site selection

Planning and design

Property development and investment

Marketing and leasing

Asset and property management

15

‌Q&A

‌Appendix

‌Unique leasing strategy provides resilience

• Diversified tenant base

across industries boosts portfolio resilience and lowers concentration risk

2.8%

19.3%

13.2%

3.0%

7.3%

Blended tenant

mix by NLA1

9.0%

4.2%

7.4%

5.2%

5.5%

1.3%

3.9%

6.1%

2.5%

9.2%

Automotive

Banking & Finance

Chemical/ Energy/ Oil & Gas

Commodities & Trading

FMCG

Hospitality

Insurance

Investment Services & Consultancy

Legal

• Stable, recurring income

from rental revenue

Media

Medical/ Pharmaceutical

Real Estate

Services

Shipping

Telecommunication/ IT/ Software & Technology

‌Prudent capital management

Debt1-to-assets ratio remains steady

Debt1 / Assets

0.46

0.43

0.43

0.44

0.41

FY2022

FY2023

FY2024

FY2025

1H FY2026

Total Equity2 (S$' million)

4,745

4,692

4,679

4,682

4,521

FY2022

FY2023

FY2024

FY2025

1H FY2026

Attributable equity

Perpetual securities

4,340

181

4,379

303

4,271

408

4,284

408

4,337

408

1 Debt is defined as total loans and borrowings

‌Revenue by business unit

‌Profit/(Loss) before tax by business unit

N/M: Not meaningful

‌Total assets by business unit

‌Residential projects - Singapore

Figures as at 31 December 2025

1 Based on calendar year

‌Disclaimer

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