Keppel (BN4) Investor presentation summary

Financial performance and growth

• Net profit increased 39% year-over-year to $1.1b in 2025, with record earnings from the Infrastructure Division.

• Return on equity rose to 18.7% in FY25, up from 14.9% in FY24.

• Funds under management grew from $88b to $95b, with asset management net profit up 15% to $189m.

• Cumulative cost savings reached $98m per annum, on track for $120m by end-2026.

Asset monetisation and capital strategy

• $2.9b in asset monetisation announced in 2025, totaling $14.5b since October 2020.

• Major deals include the proposed $1.3b sale of M1's telco business and $1.3b from property projects.

• Gross value of monetisation deals completed in 2025 was $1.6b.

Shareholder returns

• Total shareholder return reached 58.5% in 2025, outpacing STI's 28.8%.

• FY25 total dividend was $0.47/share, 38% higher than FY24, with special dividends linked to asset monetisation.

• $116m in shares repurchased in 2H25 as part of a $500m buyback program.