Keppel : Presentation to Shareholders at AGM 2022Download

Annual General Meeting

Presentation by

Mr Loh Chin Hua, CEO 22 April 2022

Accelerating Vision 2030 execution

Keppel made strong progress in executing Vision 2030, despite volatile market conditions and operational challenges imposed by COVID-19.

Driving business transformation organically & inorganically

Simplifying and focusing Keppel's business

• • Working towards definitive agreements by 30 Apr 2022 for proposed combination of Keppel O&M and Sembcorp Marine, and sale of Keppel O&M's legacy rigs and associated receivables to Asset Co

• • Signed agreement to divest Keppel Logistics

Driving innovation and transformation in business units

• • Pivoting to asset-light business model; tapping third-party funds for growth

• • Seizing new opportunities across renewables, clean energy, decarbonisation, sustainable urban renewal and connectivity

Strong earnings growth: sharp reversal from loss in FY20 FY21 net profit crossed S$1b for first time since 2015

Net profit

Sharp reversal from net

Return on equity

Improved fromloss of S$506m for FY20 negative 4.6% in FY20

Net gearing

Improved from 0.91x as at end-Dec 2020

Free cash inflow

Improved from outflow of S$72m in FY20

FY21 total dividend

• • Includes proposed final dividend of 21.0 cts/share, up from 7.0 cts/share in 2020

• • Dividend yield of 6.4% based on last traded price in 2021

Share Buyback Programme

S$500m

• • 27.3 million shares amounting to S$164m purchased from Jan-Mar 2022

• • Proposed raising mandate from 2% to 5% to support and accelerate share buyback

4

Recurring income in FY21

Recurring income grew 33% yoy in FY21

S$292m

2020

Others

ConnectivityS$8m

2021

REITs & Trust

S$142m

i Includes losses from Rental & Charter and Hospitality in FY21