Second Half and Full Year 2022 Financial Results

30 January 2023

Outline

2H and FY 2022 Highlights

3

Business Updates

8

Finance and Capital Management

13

Commitment to Sustainability

17

Additional Information

21

Constituent of:

Awards and Accreditations1:

MSCI Singapore

FTSE ST Large

Small Cap Index

& Mid-Cap Index

1. Keppel Infrastructure Fund Management Pte Ltd is a signatory to the United Nations-supported Principles for Responsible Investment, under the membership of Keppel Capital.

2

2H and FY 2022 Highlights

Philippine Coastal

FY 2022 Highlights

Strong performance supported by portfolio growth and transformation

Distributable income

Total Assets

Well-insulated from inflation

+15.8%

+32%

$222.5m

$6.0b

>90%

Supported by higher contributions from Ixom and distributions from Aramco Gas Pipelines Company (AGPC)

Enlarged footprint with investments in AGPC, wind farm assets in Europe and leading waste platform in South Korea

>90% of businesses and assets with cost pass through mechanism and availability-based revenue model

Higher EBITDA

DPU growth

Portfolio Revaluation

Loans hedged

+26.6%

3.82 cents

$7.3b in AUM2

72.0%3

Higher FY 2022 EBITDA

for FY 2022, 1% higher than

Appointed EY for inaugural annual

of floating interest rates hedged

of $402.0m1

FY 2021's 3.78 cents

portfolio revaluation

as at 31 Dec 2022

  1. Excludes gain on Ixom's divestment of Fiji business (S$0.5m), one-off acquisition related cost incurred for new investments (S$58.8m), impairment loss on the Lista onshore wind farm in Norway (S$7.7m) and investment in Philippine Coastal ($68.1m), unrealized exchange gain (S$0.4m), and fair value gain on the investment in AGPC (S$20.8m). Group adjusted EBITDA would be S$289.1m without the adjustments.
  2. Represents KIT's equity stake in the Enterprise Value of its investments plus cash held at the Trust.

3. Excluding the equity bridge loans utilised in 2022 to partially fund the acquisitions of EMK and BKR2, loans hedged would be ~90%.

4

Driving Portfolio Growth through New Acquisitions

Expanding presence to AA and AAA-rated countries in Asia and Europe

2019

2021

2022: Increased Total Assets by 32% to $6.0b as at end-Dec 2022

Jun 2022

Sep 2022

Oct 2022

Dec 2022

Jun 2022

Jan 2021

Feb 2022

Jun 2022

Acquired a 52%

interest in Eco

Acquired a 13.4%

Management Korea,

Bought remaining

interest in a European

an integrated waste

30% stake in the

Onshore Wind

platform in South

Acquired a 20.5% interest in BKR2, an offshore wind farm in Germany

Feb 2019

Acquired 50%

interest in

Philippine Coastal

Entered term sheet

to acquire 100%

Signed MOU with

economic interest

Jinko Power to

in Keppel Marina

SingSpring

Platform, with three

Korea

Desalination Plant

wind farms across

Norway and Sweden

Acquired 100%

stake in IxomAcquired 49% stake in Aramco

Gas Pipelines

Company as part of a consortium

explore solar farm

East Desalination

and energy storage

Plant (KMEDP)1

investments

1. Proposed acquisition of 50% stake in Marina East Water, owner of KMEDP. Transaction structure results in KIT becoming beneficiary of 100%

5

economic interest in KMEDP.

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Keppel Infrastructure Trust published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 01:36:03 UTC.