Financial Statements (Financial Results ending September 2025)

1. CONDENSED INTERIM CONSOLIDATED INCOME STATEMENT 1
2. CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME 2
3. CONDENSED INTERIM BALANCE SHEETS 3
4. CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY 4
5. CONDENSED INTERIM CONSOLIDATED CASH FLOW STATEMENT 8
6. NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 10
7. OTHER INFORMATION REQUIRED BY LISTING RULE APPENDIX 7.2 26

1. CONDENSED INTERIM CONSOLIDATED INCOME STATEMENT FOR THE HALF YEAR ENDED 30 SEPTEMBER 2025 (in thousands of $)

   The Group

   	Notes	1st Half 2025/26	1st Half 2024/25
   REVENUE	4	729,020	576,209
   EXPENDITURE Staff costs		327,248	289,942
   Material costs		190,616	117,536
   Depreciation		27,556	28,311
   Amortisation of intangible assets		3,621	2,974
   Company accommodation		10,934	11,032
   Subcontract costs		87,051	68,659
   Other operating expenses		69,006	54,309
   		716,032	572,763
   OPERATING PROFIT	5	12,988	3,446
   Interest income		7,578	11,083
   Finance charges		(1,771)	(2,062)
   Loss on disposal of property, plant and equipment and intangible assets		(77)	(402)
   Share of profits of associated companies, net of tax		52,633	38,234
   Share of profits of a joint venture company, net of tax		18,677	20,390
   PROFIT BEFORE TAXATION		90,028	70,689
   Taxation		(5,202)	(527)
   PROFIT FOR THE FINANCIAL PERIOD		84,826	70,162
   PROFIT ATTRIBUTABLE TO: OWNERS OF THE PARENT		83,308	68,769
   Non-controlling interests		1,518	1,393
   		84,826	70,162
   BASIC EARNINGS PER SHARE (CENTS)	6	7.45	6.13
   DILUTED EARNINGS PER SHARE (CENTS)	6	7.41	6.10

2. CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 30 SEPTEMBER 2025 (in thousands of $)

   The Group
   	1st Half 2025/26	1st Half 2024/25
   PROFIT FOR THE FINANCIAL PERIOD	84,826	70,162
   OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD
   Item that will not be reclassified to profit or loss: Actuarial loss on remeasurement of defined benefit plan	(8)	(12)
   Items that may be reclassified subsequently to profit or loss: Foreign currency translation of foreign operations	(34,925)	(42,057)
   Net fair value adjustment on cash flow hedges Share of other comprehensive income of associated/joint venture companies	- 3,361	548 5,872
   	(31,564)	(35,637)
   Other comprehensive income, net of tax	(31,572)	(35,649)
   TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD	53,254	34,513
   TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO: OWNERS OF THE PARENT	52,430	33,801
   Non-controlling interests	824	712
   	53,254	34,513

3. CONDENSED INTERIM BALANCE SHEETS AS AT 30 SEPTEMBER 2025 (in thousands of $)

   The Group The Company

   EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT	Notes	30 Sep 2025	31 Mar 2025	30 Sep 2025	31 Mar 2025
   Share capital	9	420,044	420,044	420,044	420,044
   Treasury shares	10	(12,400)	(14,891)	(12,400)	(14,891)
   Capital reserve		245	(69)	245	(69)
   Share-based compensation reserve		4,259	6,922	4,259	6,922
   Foreign currency translation reserve		(63,176)	(29,163)	-	-
   Fair value reserve	11	1,127	(2,016)	-	-
   Equity transaction reserve		(2,173)	(2,173)	-	-
   General reserve		1,346,689	1,341,786	662,793	717,674
   		1,694,615	1,720,440	1,074,941	1,129,680
   NON-CONTROLLING INTERESTS		21,367	21,171	-	-
   TOTAL EQUITY		1,715,982	1,741,611	1,074,941	1,129,680
   NON-CURRENT LIABILITIES
   Deferred tax liabilities		1,009	988	-	-
   Lease liabilities		60,640	58,365	55,327	52,689
   Long-term bank loan	14	2,708	3,217	-	-
   		64,357	62,570	55,327	52,689
   		1,780,339	1,804,181	1,130,268	1,182,369
   Represented by:
   PROPERTY, PLANT AND EQUIPMENT	12	205,499	209,448	164,221	168,997
   RIGHT-OF-USE ASSETS		81,625	77,596	75,922	70,687
   INTANGIBLE ASSETS		40,291	36,734	30,281	28,817
   SUBSIDIARY COMPANIES		-	-	138,282	115,455
   ASSOCIATED COMPANIES		563,040	536,228	178,278	178,278
   JOINT VENTURE COMPANY		306,806	296,373	61,867	61,867
   DEFERRED TAX ASSETS	13	10,608	14,809	9,538	13,233
   CURRENT ASSETS

   44,939	60,954	29,716	42,355
   154,747	108,382	148,412	99,878
   14,318	15,218	9,380	8,858
   916	35,782	-	35,088
   38,911	22,752	42,952	29,592
   66,225	63,757	26,790	27,542
   513,583	605,059	492,305	577,649
   61,584	58,301	13,740	21,483
   895,223	970,205	763,295	842,445

   Trade receivables Contract assets

   Prepayments and other debtors Amounts owing by immediate holding

   company

   Amounts owing by related parties Inventories

   Short-term deposits Cash and bank balances

   Less:

   CURRENT LIABILITIES

   244,103 258,903 204,389 213,875 44,155 46,019 31,790 32,903 24,186 22,143 22,760 19,809 311 570 26,386 24,734 2,192 1,474 - - 7,806 8,103 6,091 6,089

   322,753 337,212 291,416 297,410

   Trade and other payables Contract liabilities

   Lease liabilities

   Amounts owing to related parties

   Bank loans 14

   Tax payable

   NET CURRENT ASSETS	572,470	632,993	471,879	545,035
   	1,780,339	1,804,181	1,130,268	1,182,369

   The accompanying explanatory notes form an integral part of the condensed interim financial statements.

   Attributable to Owners of the Parent

   The Group

   Notes

   Share Capital

   Treasury shares

   Capital reserve

   Share-based compensation reserve

   Foreign currency translation reserve

   Fair value reserve

   Equity transaction reserve

   General reserve

   Total

   Non- controlling interests

   Total Equity

   Balance at 1 April 2025	420,044	(14,891)	(69)	6,922	(29,163)	(2,016)	(2,173)	1,341,786	1,720,440	21,171	1,741,611
   Profit for the period	-	-	-	-	-	-	-	83,308	83,308	1,518	84,826
   Actuarial loss on remeasurement of
   defined benefit plan	-	-	-	-	-	-	-	(8)	(8)	-	(8)
   Foreign currency translation of
   foreign operations	-	-	-	-	(34,231)	-	-	-	(34,231)	(694)	(34,925)
   Share of other comprehensive
   income of associated/joint venture
   companies	-	-	-	-	218	3,143	-	-	3,361	-	3,361
   Other comprehensive
   income, net of tax	-	-	-	-	(34,013)	3,143	-	(8)	(30,878)	(694)	(31,572)
   Total comprehensive income for
   the period	-	-	-	-	(34,013)	3,143	-	83,300	52,430	824	53,254

   -	-	-	2,652	-	-	-	-	2,652	-	2,652
   -	5,315	-	(5,315)	-	-	-	-	-	-	-
   -	(2,510)	-	-	-	-	-	-	(2,510)	-	(2,510)
   -	(314)	314	-	-	-	-	-	-	-	-
   -	-	-	-	-	-	-	(78,397)	(78,397)	(628)	(79,025)
   -	2,491	314	(2,663)	-	-	-	(78,397)	(78,255)	(628)	(78,883)

   Share-based compensation expense Share awards released

   Purchase of treasury shares 10

   Treasury shares reissued pursuant

   to equity compensation plans 10

   Dividends 7

   Total contributions by and distributions to owners Balance at

   30 September 2025 420,044 (12,400) 245 4,259 (63,176) 1,127 (2,173) 1,346,689 1,694,615 21,367 1,715,982

   The accompanying explanatory notes form an integral part of the condensed interim financial statements.

4. CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 30 SEPTEMBER 2024 (in thousands of $)

   Attributable to Owners of the Parent

   The Group

   Notes

   Share Capital

   Treasury shares

   Capital reserve

   Share-based compensation reserve

   Foreign currency translation reserve

   Fair value reserve

   Equity transaction reserve

   General reserve

   Total

   Non- controlling interests

   Total Equity

   Balance at 1 April 2024 420,044 (4,511) (388) 7,501 (24,198) (1,300) (2,173) 1,292,059 1,687,034 16,205 1,703,239

   -	-	-	-	-	-	-	(12)	(12)	-	(12)
   -	-	-	-	(41,376)	-	-	-	(41,376)	(681)	(42,057)
   -	-	-	-	-	548	-	-	548	-	548
   -	-	-	-	292	5,580	-	-	5,872	-	5,872
   -	-	-	-	(41,084)	6,128	-	(12)	(34,968)	(681)	(35,649)

   Profit for the period - - - - - - - 68,769 68,769 1,393 70,162 Actuarial loss on remeasurement of

   defined benefit plan

   Foreign currency translation of foreign operations

   Net fair value adjustment on cash flow hedges

   Share of other comprehensive income of associated/joint venture companies

   Other comprehensive income, net of tax

   Total comprehensive income for the period - - - - (41,084) 6,128 - 68,757 33,801 712 34,513

   -	-	-	2,173	-	-	-	-	2,173	-	2,173
   -	5,551	-	(5,551)	-	-	-	-	-	-	-
   -	(8,057)	-	-	-	-	-	-	(8,057)	-	(8,057)
   -	(319)	319	-	-	-	-	-	-	-	-
   -	-	-	-	-	-	-	(67,418)	(67,418)	(332)	(67,750)
   -	(2,825)	319	(3,378)	-	-	-	(67,418)	(73,302)	(332)	(73,634)

   Share-based compensation expense Share awards released

   Purchase of treasury shares 10

   Treasury shares reissued pursuant

   to equity compensation plans 10

   Dividends 7

   Total contributions by and distributions to owners Balance at 30 September 2024 420,044 (7,336) (69) 4,123 (65,282) 4,828 (2,173) 1,293,398 1,647,533 16,585 1,664,118

   The accompanying explanatory notes form an integral part of the condensed interim financial statements.

   The Company

   Notes

   Share capital

   Treasury shares

   Capital reserve

   Share-based compensation reserve

   General reserve

   Total

   	420,044	(14,891)	(69)	6,922	717,674	1,129,680
   	-	-	-	-	23,516	23,516
   	-	-	-	2,652	-	2,652
   	-	5,315	-	(5,315)	-	-
   10	-	(2,510)	-	-	-	(2,510)
   10	-	(314)	314	-	-	-
   7	-	-	-	-	(78,397)	(78,397)
   	-	2,491	314	(2,663)	(78,397)	(78,255)
   	420,044	(12,400)	245	4,259	662,793	1,074,941

   Balance at 1 April 2025 Profit for the period, representing total comprehensive income for the period

   Share-based compensation expense Share awards released

   Purchase of treasury shares

   Treasury shares reissued pursuant to equity compensation plans

   Dividends

   Total contributions by and distributions to owners Balance at 30 September 2025

   The accompanying explanatory notes form an integral part of the condensed interim financial statements.

   The Company

   Notes

   Share capital

   Treasury shares

   Capital reserve

   Share-based compensation reserve

   Fair value reserve

   General reserve

   Total

   	420,044	(4,511)	(388)	7,501	(257)	745,692	1,168,081
   	-	-	-	-	-	12,801	12,801
   	-	-	-	-	548	-	548
   	-	-	-	-	548	12,801	13,349
   	-	-	-	2,173	-	-	2,173
   	-	5,551	-	(5,551)	-	-	-
   10	-	(8,057)	-	-	-	-	(8,057)
   10	-	(319)	319	-	-	-	-
   7	- -		-	-	-	(67,418)	(67,418)
   	- (2,825)		319	(3,378)	-	(67,418)	(73,302)

   Balance at 1 April 2024

   Profit for the period

   Other comprehensive income for the period, net of tax:

   Net fair value adjustment on cash flow hedges

   Total comprehensive income for the period

   Share-based compensation expense Share awards released

   Purchase of treasury shares

   Treasury shares reissued pursuant to equity compensation plans

   Dividends

   Total contributions by and distributions to owners Balance at

   30 September 2024 420,044 (7,336) (69) 4,123 291 691,075 1,108,128

   The accompanying explanatory notes form an integral part of the condensed interim financial statements.

5. CONDENSED INTERIM CONSOLIDATED CASH FLOW STATEMENT

The accompanying explanatory notes form an integral part of the condensed interim financial statements.

The accompanying explanatory notes form an integral part of the condensed interim financial statements.

1. GENERAL

   SIA Engineering Company Limited (the "Company") is a limited liability company incorporated in the Republic of Singapore which is also the place of domicile. The Company is listed on the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Company is a subsidiary of Singapore Airlines Limited and its ultimate holding company is Temasek Holdings (Private) Limited. Both holding companies are incorporated in the Republic of Singapore.

   The registered office of the Company is at 31 Airline Road, Singapore 819831.

   The financial statements of the Group as at 30 September 2025 and for the half year then ended comprise the Company and its subsidiaries (together referred to as the 'Group' and individually as 'Group entities') and the Group's interest in equity-accounted investees.

   The principal activities of the Company are the provision of airframe maintenance, component overhaul services and inventory technical management, the provision of line maintenance and technical ground handling services and investment holdings. The principal activities of the subsidiaries are disclosed in Note 18 to the audited financial statements for the year ended 31 March 2025. There have been no significant changes in the nature of these activities during the financial period.

2. BASIS OF PREPARATION

   The condensed interim financial statements for the half year ended 30 September 2025 have been prepared in accordance with Singapore Financial Reporting Standards (International) 34 Interim Financial Reporting (SFRS(I) 1-34) and International Accounting Standard 34 Interim Financial Reporting issued by the Accounting Standards Council Singapore and IAS 34 Interim Financial Reporting, and should be read in conjunction with the Group's last annual consolidated financial statements as at and for the year ended 31 March 2025 ("last annual financial statements"). They do not include all of the information required for a complete set of financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the last annual financial statements.

   The Group has applied the same accounting policies and methods of computation in the preparation of the interim financial statements for the current reporting period as the last audited financial statements except for the adoption of SFRS(I) and International Financial Reporting Standards ("IFRS") that are mandatory for financial year beginning on or after 1 April 2025. The adoption of these SFRS(I) and IFRS have no significant impact on the financial statements.

   The condensed interim financial statements are presented in Singapore Dollars ("SGD"), which is the Company's functional currency and all financial information presented in SGD have been rounded to the nearest thousand ($'000), unless otherwise stated.

3. SIGNIFICANT ACCOUNTING ESTIMATES AND CRITICAL JUDGEMENTS

   In preparing the condensed interim financial statements, management has made judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

   The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements as at and for the year ended 31 March 2025: -

   1. Expected credit loss ("ECL") provision for trade receivables, contract assets and amounts owing by related parties;

   2. Income taxes;

   3. Contract assets; and

   4. Impairment of non-financial assets

      Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

4. REVENUE (in thousands of $)

The Group

Airframe overhaul and line maintenance 503,913 435,552 Engine and component 225,107 140,657

729,020 576,209

1. REVENUE (in thousands of $) (continued)
   1. Disaggregation of revenue from contracts with customers SIA Engineering Company Limited

      Condensed interim financial statements For the half year ended 30 September 2025

      In the following table, revenue from contracts with customers is disaggregated by primary geographical markets, major service line and timing of revenue recognition.

      Airframe overhaul and line maintenance Engine and component Total

      		1st Half	1st Half	1st Half	1st Half	1st Half	1st Half
      		2025/26	2024/25	2025/26	2024/25	2025/26	2024/25
      	Primary geographical markets East Asia	399,647	342,481	86,210	75,486	485,857	417,967
      	Europe	43,091	50,722	95,230	43,108	138,321	93,830
      	South West Pacific	5,961	6,425	4,165	1,566	10,126	7,991
      	Americas	23,544	20,227	5,941	6,135	29,485	26,362
      	West Asia and Africa	31,670	15,697	33,561	14,362	65,231	30,059
      		503,913	435,552	225,107	140,657	729,020	576,209
      	Major service line Services rendered	503,913	435,552	225,107	140,657	729,020	576,209
      	Timing of revenue recognition
      	Transferred over time	503,913	435,552	225,107	140,657	729,020	576,209
      (b)	Seasonality of operations

      The Group's businesses are not affected significantly by seasonal or cyclical factors during the financial period.

      Page 12 of 32

2. OPERATING PROFIT (in thousands of $)

   Operating profit for the period is arrived at after charging/(crediting):

   The Group

   1st Half 1st Half 2025/26 2024/25

   Provision for onerous contract 4,000 -

   Impairment loss reversal for trade receivables, contract assets and amounts owing by related parties

   (381) (1,279)

   Net exchange loss	1,993	2,470
   Provision for obsolete stocks, net	680	1,209
   Equipment costs	17,270	16,654
   Freight cost	8,856	7,155
   Audit fees
   - Auditors of the Company and other firms affiliated with KPMG	210	208

   International Limited Non-audit fees

   - Auditors of the Company 11 10

3. EARNINGS PER SHARE

   The Group

   	1st Half 2025/26	1st Half 2024/25
   Profit attributable to owners of the parent (in thousands of $)	83,308	68,769
   Weighted average number of ordinary shares in issue used
   for computing basic earnings per share*	1,118,596,126	1,121,916,784
   Adjustment for dilutive potential ordinary shares	5,281,140	4,602,148
   Weighted average number of ordinary shares in issue used for computing diluted earnings per share	1,123,877,266	1,126,518,932
   Basic earnings per share (cents)	7.45	6.13
   Diluted earnings per share (cents)	7.41	6.10

   * The weighted average number of ordinary shares takes into account the weighted average effect of changes in treasury shares transactions during the period.

   Basic earnings per share is calculated by dividing the profit attributable to owners of the parent by the weighted average number of ordinary shares in issue during the period.

   For purposes of calculating diluted earnings per share, the weighted average number of ordinary shares in issue is adjusted to take into account the effects of dilutive potential ordinary shares. The Company has three categories of dilutive potential ordinary shares: performance shares, restricted shares and deferred shares.

4. DIVIDENDS (in thousands of $)

   Dividends paid:

   Final dividend of 7.0 cents per share in respect of 2024/25

   The Group and Company

   1st Half 1st Half 2025/26 2024/25

   (2024/25: 6.0 cents per share in respect of 2023/24) 78,397 67,418

   An interim one-tier dividend of 2.5 cents per share was declared for the financial period ended 30 September 2025.

5. NET ASSET VALUE

   The Group The Company

   Net asset value per ordinary share*

   As at 30 Sep 2025 As at 31 Mar 2025 As at 30 Sep 2025 As at 31 Mar 2025

   (cents) 151.4 153.9 96.1 101.1

   * Excluding treasury shares

6. SHARE CAPITAL (in thousands of $)

The Group and Company

Issued and fully paid 1,124,116,360 420,044 1,124,116,360 420,044

There was no movement in the issued and paid-up capital of the Company since 31 March 2025.

As at 30 September 2025, the Company has an issued share capital of 1,119,121,631 ordinary shares (31 March 2025: 1,117,833,688) excluding 4,994,729 ordinary shares (31 March 2025: 6,282,672) held by the Company as treasury shares.

The Company has no subsidiary holdings as at 30 September 2025 and 31 March 2025.

1. SHARE CAPITAL (in thousands of $) (continued)

   Restricted Share Plan and Performance Share Plan

   1. Management staff are entitled to the Restricted Share Plan ("RSP"). In addition, senior management staff are entitled to participate in the Performance Share Plan ("PSP"). At the Annual General Meeting of SIAEC held on 19 July 2024, shareholders of SIAEC approved the adoption of the SIAEC Restricted Share Plan 2024 ("SIAEC RSP 2024") and the SIAEC Performance Share Plan 2024 ("SIAEC PSP 2024") to replace the previous RSP 2014 and PSP 2014, which were terminated following the adoption of the new plans. The termination of the previous RSP 2014 and PSP 2014 was without prejudice to the rights of holders of awards outstanding under the respective plans as at the date of such termination.

   2. Depending on the achievement of pre-determined targets over a stipulated period for the RSP and PSP, the final number of restricted shares and performance shares awarded could range between 0% and 150% of the initial grant of the restricted shares and between 0% and 200% of the initial grant of the performance shares.

   3. As at 30 September 2025, the number of outstanding shares granted under the Company's RSP and PSP were 3,001,367 (30 September 2024: 2,706,475) and 1,640,400 (30 September 2024: 1,188,300) respectively. The movement of these share awards during the half year from 1 April 2025 to 30 September 2025 is as follows:

RSP

Balance at 01.04.2025/

Number of Restricted shares

Balance at

Date of grant

date of grant Adjustments* Cancelled Released

30.09.2025

* Adjustment at the end of performance period upon meeting stated performance targets and adjustments for number of days in service for retirees.

PSP

Balance at 01.04.2025/

Number of Performance shares

Balance at

Date of grant

date of grant Adjustments* Cancelled Released

30.09.2025

* Adjustment at the end of performance period upon meeting stated performance targets and adjustments for number of days in service for retirees.

1. SHARE CAPITAL (in thousands of $) (continued)

   Deferred Share Award ("DSA")

   Grants of Deferred Share Award ("DSA") of fully paid ordinary shares are granted to senior management staff. At the end of a 3-year vesting period, an additional final award will be vested equal to the Base Award multiplied by the accumulated dividend yield. The details of the DSA are as follows:

   Number of Deferred shares

   Date of grant

   Balance at 01.04.2025/

   date of grant Adjustments* Cancelled Released

   Balance at 30.09.2025

   07.07.2021	60	-	-	(60)	-
   07.07.2023	287,215	172,364	-	(459,579)	-
   04.07.2024	420,098	-	-	(209,900)	210,198
   06.07.2025	643,775	-	-	(214,600)	429,175
   Total	1,351,148	172,364	-	(884,139)	639,373

   * Adjustment at the end of performance period upon meeting stated performance targets and adjustments for number of days in service for retirees.

2. TREASURY SHARES (in thousands of $)

   The Group and Company

   30 Sep 2025 31 Mar 2025

   Balance at 1 April	(14,891)	(4,511)
   Purchase of treasury shares	(2,510)	(15,612)
   Treasury shares reissued pursuant to equity compensation plans: - RSP/PSP awarded	5,315	5,551

   - Gain on reissuance of treasury shares (314) (319)

   5,001 5,232

   Balance at 30 September and 31 March (12,400) (14,891)

   During the period from 1 April 2025 to 30 September 2025, the Company purchased 830,800 (1 April 2024 to 30 September 2024: 3,466,700) of its ordinary shares by way of on-market purchases at share prices ranging from $3.07 to $3.10 (1 April 2024 to 30 September 2024: $2.20 to $2.43). The total amount paid to purchase the shares was approximately $2,574,000 (1 April 2024 to 30 September 2024: $8,057,000) and this is presented as a component within equity attributable to owners of the Parent.

   The Company transferred 2,118,743 treasury shares to employees on vesting of share-based incentive plans (1 April 2024 to 30 September 2024: 2,244,742 on vesting of share-based incentive plans).

3. FAIR VALUE RESERVES (in thousands of $)

   Fair value reserve records the cumulative fair value changes of financial asset measured at fair value through other comprehensive income ("FVOCI") and the portion of the fair value changes (net of tax) on derivative financial instruments designated as hedging instruments in cash flow hedges that is determined to be an effective hedge.

   The Group

   30 Sep 2025		31 Mar 2025
   Balance at 1 April	(2,016)	(1,300)
   Net gain on fair value adjustment	-	116
   Recognised in "other operating expenses" in profit or loss on
   occurrence of forecast transactions	-	328
   Effect from discontinuation of cash flow hedge	-	(187)
   Share of other comprehensive income of a joint venture
   company	3,143	(973)
   Balance at 30 September and 31 March	1,127	(2,016)

   The Company

   30 Sep 2025 31 Mar 2025

   Balance at 1 April - (257)

   Net gain on fair value adjustment - 116

   Recognised in "other operating expenses" in profit or loss on

   occurrence of forecast transactions - 328

   Effect from discontinuation of cash flow hedge - (187)

   Balance at 30 September and 31 March - -

4. PROPERTY, PLANT AND EQUIPMENT

   During the six months ended 30 September 2025, the Group acquired property, plant and equipment with a cost of $13,290,000 (six months ended 30 September 2024: $30,476,000).

5. DEFERRED TAX ASSETS

   Deferred income tax assets are recognised to the extent that realisation of the related tax benefits through future taxable profits is probable. The Group and Company's deferred tax assets as at 30 September 2025 of $10,608,000 (31 March 2025: $14,809,000) and $9,538,000 (31 March 2025:

   $13,233,000) represent mainly tax losses and unutilised capital allowances.

6. BANK LOANS (in thousands of $)

   The Group

   Amount repayable within one year or on demand	30 Sep 2025	31 Mar 2025
   Revolving credit facility	1,418	670
   Term loan	774	804
   	2,192	1,474
   Amount repayable after one year Term loan	2,708	3,217
   Details of any collateral

   Excluded in the borrowings above are lease liabilities of $84,826,000 (31 March 2025: $80,508,000) which are secured over the right-of-use assets.

7. CAPITAL EXPENDITURE COMMITMENTS

   The Group and the Company have commitments for capital expenditure, with an aggregate value of approximately $88,889,000 (31 March 2025: $56,848,000) and $77,506,000 (31 March 2025:

   $43,295,000) respectively.

   In addition, the Group's share of a joint venture company and associated companies' commitments

   for capital expenditure is approximately $93,056,000 (31 March 2025: $20,949,000).

   The Group and the Company will review the need and timing of these commitments to conserve cash where prudent to deal with continuing uncertainties from macroeconomic headwinds, inflationary pressures and ongoing geopolitical conflicts.

8. FINANCIAL INSTRUMENTS (in thousands of $) Fair values

   The fair value of a financial instrument is the amount at which the instrument could be exchanged or settled between knowledgeable and willing parties in an arm's length transaction, other than in a forced or liquidation sale.

   Fair value hierarchy

   The Group categorises fair value measurements using a fair value hierarchy that is dependent on the valuation inputs used as follows:

   • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

   • Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

   • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Fair value measurements that use inputs of different hierarchy levels are categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

The following table shows an analysis of each class of assets and liabilities measured at fair value at the end of the reporting period:

The Group and Company

The Group and Company

1. FINANCIAL INSTRUMENTS (in thousands of $) (continued) Fair values (continued)

   Level 2 fair value measurements

   The Group and Company have carried all derivative instruments at their fair values.

   The fair value of forward currency contracts is determined by reference to current forward exchange rates for contracts with similar maturity profiles.

   Financial instruments whose carrying amounts are reasonable approximation of fair value

   The carrying amounts of the following financial assets and financial liabilities are reasonable approximations of their fair values due to their short-term nature: cash and bank balances, short-term deposits, amounts owing by/to related parties, amounts owing by immediate holding company, bank loans, trade and other receivables and payables.

   The carrying amounts of the loans to subsidiary companies are reasonable approximations of fair value as the loans are floating rate loans that are re-priced to market interest rate quarterly.

2. SEGMENT INFORMATION (in thousands of $)

The Group's businesses are organised and managed separately according to the nature of the services provided. The following tables present revenue and profit information regarding operating segments for the half years ended 30 September 2025 and 30 September 2024 and certain assets information of the operating segments as at 30 September 2025 and 31 March 2025.

Operating segments

Operating segments (continued)

1. SEGMENT INFORMATION (in thousands of $) (continued)

   Operating segments (continued)

   Notes:

   1. Full information of the associated and joint venture companies (total revenue, total profit or loss) are reported in Operating Segments Revenue and Results, but eliminated to reconcile to the Group consolidated results with these equity-accounted investees included under the equity method.

   2. Inter-segment revenues are eliminated on consolidation.

   3. The following items are deducted from segment results to arrive at "profit before taxation"

      presented in the consolidated income statement:

      1st Half 2025/26 1st Half 2024/25

      Finance charges (1,771) (2,062)

      Loss on disposal of property, plant and equipment

      and intangible assets (77) (402)

      (1,848) (2,464)

   4. The following items are added to segment assets to arrive at total assets reported in the consolidated balance sheet:

Geographical segments

Revenue and non-current assets information based on geographical location of customers and assets respectively are as follows:

Revenue Non-current assets

West Asia and Africa 65,231 30,059 - -

Total 729,020 576,209 1,207,869 1,171,188

1. SEGMENT INFORMATION (in thousands of $) (continued)

   Geographical segments (continued)

   For the period ended 30 September 2025, revenue of approximately $421,305,000 (30 September 2024: $368,573,000) was from customers located in Singapore. The remaining revenue from customers in other countries were individually insignificant.

   As at 30 September 2025, non-current assets of approximately $1,146,922,000 (31 March 2025:

   $1,101,684,000) were located in Singapore. The remaining non-current assets located in other countries were individually insignificant.

   Non-current assets information presented above consists of property, plant and equipment, right-of-use assets, intangible assets, investments in associated and joint venture companies, and deferred tax assets as presented in the consolidated balance sheet.

   Major customers

   Revenue from one major customer amounted to approximately $357,716,000 (30 September 2024:

   $300,808,000), arising from services provided by airframe and line maintenance segment.

2. RELATED PARTY TRANSACTIONS (in thousands of $) Sale and purchase of goods and services

The Group

Rental of hangars, workshops and office space charged by the

immediate holding company 9,175 9,102 Purchases of materials from the immediate holding company and fellow

-the immediate holding company 2,452 2,839

Compensation of key management personnel

There were no changes to key management personnel and the compensation scheme in the first half of FY2025/26.

1. Whether the figures have been audited or reviewed and in accordance with which standard (e.g. The singapore standard on auditing 910 (engagements to review financial statements), or an equivalent standard).

   The figures have not been audited nor reviewed by the auditors.

2. Where the figures have been audited or reviewed, the auditors' report (including any qualifications or emphasis of a matter).

   Not applicable.

3. A review of the performance of the group, to the extent necessary for a reasonable understanding of the group's business. The review must discuss any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors. It must also discuss any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on. GROUP EARNINGS

   First Half FY2025-26

   With robust demand for maintenance, repair and overhaul services ("MRO") in the first half of the financial year ended 30 September 2025, Group revenue grew 26.5% to $729.0 million. Group expenditure also increased but at a lower rate of 25.0% to $716.0 million, mainly attributed to higher material costs, manpower costs, repair costs and IT system implementation costs, as well as a $4.0 million impairment provision for an underperforming contract. Consequently, the Group's operating performance improved by $9.6 million year-on-year to an operating profit of $13.0 million.

   Share of profits of associated and joint venture companies also increased by $12.7 million (+21.7%) year-on-year to $71.3 million. The breakdown of contribution by segments is as follows:

   • $68.6 million (+$12.4 million) from the engine and component segment, and

   • $2.7 million (+$0.3 million) from the airframe and line maintenance segment.

   The Group's net profit for the first half ended 30 September 2025 was $83.3 million, an improvement of $14.5 million year-on-year.

   Basic earnings per share for the first half of the financial year ended 30 September 2025 was 7.45 cents.

   GROUP FINANCIAL POSITION

   As of 30 September 2025, equity attributable to owners of the parent was $1,694.6 million. This was

   $25.8 million (-1.5%) lower than the position as of 31 March 2025, mainly due to the payment of final dividend for the last financial year and a decrease in the foreign currency translation reserve, partially offset by profits earned during the period.

   Total assets, which included a cash balance of $575.2 million, stood at $2,103.1 million as of 30 September 2025. The decrease of $38.3 million (-1.8%) from the position as of 31 March 2025 was mainly due to lower cash balances, partially offset by an increase in receivables.

   Net asset value per share as at 30 September 2025 was 151.4 cents.

4. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results.

   No forecast was previously provided.

5. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months. BUSINESS UPDATE

   The Group continued to see healthy demand for Maintenance Repair and Overhaul ("MRO") services in the half-year ended 30 September 2025. Line Maintenance in Singapore handled 2.6% more flights compared to the same period last year, with the uptick in demand also seen across our line maintenance network. Base Maintenance also benefitted from an increase in heavy maintenance checks.

   New Comprehensive Services Agreements with Singapore Airlines and Scoot to provide a broad spectrum of MRO services took effect from 1 April 2025, valued at an estimated $1.3 billion for a term of two years, with an option to extend by an additional year.

   TIA Engineering Services Company Ltd, our joint venture with Cambodia Airport Investment Co., Ltd, commenced operations at the new Techo International Airport ("KTI") in Phnom Penh on 9 September 2025, providing line maintenance support to airlines operating into KTI.

   Component and engine MRO output continued to increase, supported by improved operational efficiencies, new capability and additional work shifts at certain shops. During the period, Asia Pacific Aircraft Component Services in Malaysia added Honeywell's Air Data Inertial Reference Unit to its component repair capabilities.

   Meanwhile, the Group's Enterprise Operating System was deployed to additional business units and

   digital solutions were further integrated into operations to boost productivity and efficiency.

   SIA Engineering Company was recognised as one of the top 50 ASEAN Public Listed Companies under the 2024 ASEAN Corporate Governance Scorecard Regional Assessment, led by the ASEAN Capital Markets Forum. This accolade reflects our continued commitment to high standards of corporate governance, transparency and accountability, and long-term value creation.

   OUTLOOK

   Travel demand and passenger traffic growth continue to underpin MRO demand. While the operating environment is still subject to risks from heightened geopolitical and trade tensions, as well as persistent supply chain issues, the Group remains vigilant to the headwinds and continues to closely manage these risks and position for long-term growth. Our strategic priorities continue to be focused on expanding our presence in Asia-Pacific, expanding capacity and MRO capabilities for next-generation aircraft, and enhancing our core services to build operational resilience, agility and competitiveness, to deliver greater value to our customers and stakeholders.

6. Dividend

   1. Current Financial Period Reported on

      Any dividend recommended for the current financial period reported on? Yes

      Name of dividend	Interim
      Dividend Type	Cash
      Dividend Rate	2.5 cents per ordinary share
      Tax rate	Tax exempt one-tier

   2. Corresponding Period of the Immediately Preceding Financial Year

      Any dividend declared for the corresponding period of the immediately preceding financial year?

      Yes

      Name of dividend	Interim
      Dividend Type	Cash
      Dividend Rate	2.0 cents per ordinary share
      Tax rate	Tax exempt one-tier

   3. Date payable

      The interim dividend will be paid on 28 November 2025.

   4. Books closure date

   Notice is hereby given that duly completed and stamped transfers together with all relevant documents of or evidencing title received by the Company's Share Registrars, Boardroom Corporate & Advisory Services Pte Ltd, at 1 Harbourfront Avenue, Keppel Bay Tower, #14-07, Singapore 098632 up to 5

   p.m. on 12 November 2025 will be registered to determine shareholders' entitlements to the interim dividend. Thereafter the Share Transfer Books and the Register of Members of the Company will be closed on 13 November 2025 for the preparation of dividend warrants. The interim dividend will be paid on 28 November 2025 to members on the Register as at 12 November 2025.

7. A statement showing all sales, transfers, cancellation and/or use of subsidiary holdings as at the end of the current financial period reported on.

The Company has no subsidiary holdings as at 30 September 2025 and 30 September 2024. There were no sales, transfers, cancellation and/or use of subsidiary holdings for the period 1 April 2025 to 30 September 2025.