Presentation by Berhad July 2019 Presentation Outline

1 Sime Darby Property Profile

2 Key Developments

3 Financial and Operational Highlights

4 Growth Strategies & Key Focus in 2019

5 Appendices

2 1 Sime Darby Property

3 Shareholding and Share Price RM1.03

Share Price (as at 28 June 2019) 56.5% Share Price Movement (RM)

1.78 As at

30 June 2019 1.03

1.11

Foreign

Shareholdings

9-Jan-19

8-Jun-19

9-Apr-19

8-Feb-19

28-Jul-18 13-Jul-18

9-May-19

14-Jan-18 29-Jan-18 24-Jan-19

11-Oct-18 26-Oct-18

23-Jun-19 13-Jun-18 28-Jun-18

14-Apr-18 29-Apr-18 24-Apr-19

13-Feb-18 28-Feb-18 23-Feb-19

15-Mar-18 30-Mar-18 10-Mar-19 25-Mar-19

15-Dec-17 30-Dec-17 10-Dec-18 25-Dec-18

11-Sep-18 26-Sep-18

12-Aug-18 27-Aug-18

30-Nov-17 10-Nov-18 25-Nov-18

29-May-18 24-May-19 14.0% 14-May-18 11.1% RM7.0bn 4.8% Market Capitalisation (as at 28 June 2019) Other Domestic Shareholdings 13.6% 6,800,839 Number of Ordinary and others Shares (000’) 4 Source: Tricor Share Price Performance Movement of Sime Darby Property against the index – Share prices broadly trending downwards within the overall property sector

Index (100) 170.0

150.0

At 30 Nov 130.0 At 28 June 2017 2019 % Chg

Sime Darby Sime Darby Property: 110.0 Property: 14 RM1.20 RM1.03

FBM KLCI: FBM KLCI: 1,717.86 pts 90.0 1,672.13 pts 3

Bursa Prop: Bursa Prop: 1,217.19 pts 900.92 pts 26 70.0

50.0

9 Jan 19Jan9

8 Jun 19 Jun 8

9 Apr 19 Apr 9

8 Feb 19Feb8

13 18 13 Jul 18 28 Jul

9 May 19May9

14 Jan 18 Jan 14 29 Jan 18 29 Jan 19 24 Jan

11 Oct 18 11 Oct 18 26 Oct

13 Jun 18 Jun 13 28 Jun 18 28 Jun 19 23 Jun

14 Apr 18 Apr 14 29 Apr 18 29 Apr 19 24 Apr

13 13 Feb 18 28 28 Feb 18 23 Feb 19

15 Mar 18 Mar 15 30 Mar 18 30 Mar 19 10 Mar 19 25 Mar

15 Dec 17 Dec 15 30 Dec 17 30 Dec 18 10 Dec 18 25 Dec

11 Sep 18 11 Sep 18 26 Sep

12 Aug 12 18 Aug 27 18 Aug

30 17 30 Nov 18 10 Nov 18 25 Nov

14 May 18 May 14 29 May 18 29 May 19 24 May

FTSE Bursa KLCI Bursa Malaysia Property Index Sime Darby Property

5 Source: Bloomberg as at 28 June 2019 Historical Foreign Shareholding

Sime Darby Property Foreign Shareholding since Dec' 17 (%)

15.05 14.96

14.83 14.83 14.82 14.78

14.66 14.63 14.63 14.58 14.45 14.48 14.38 14.27 14.26 14.22 14.20 14.13 14.09 14.00

6 The Largest Property Developer in Malaysia In terms of land bank size

UNITED Property Development KINGDOM Active townships, integrated and THAILAND 23 niche developments KEDAH Acres of remaining developable land bank to be Helensvale, 20,374 developed over 10 -25 years Queensland

GEORGETOWN, PENINSULA PENANG Estimated Remaining Gross AUSTRALIA MALAYSIA RM87.5bn Development Value (GDV) Average trading discount to 58% Realised Net Asset Value (RNAV) Property Investment 3,141 acres Sq. ft. of total Net Lettable Area owned in Malaysia and 2,800 acres 1.3mn NEGERI Singapore SEMBILAN Hospitality & Leisure 1,462 acres JOHOR Assets include 2 golf

BANDAR UNIVERSITI PAGOH courses (36-hole & 18-hole 3,226 acres 4 respectively) and a Key Developments convention center in North-South Expressway Singapore Malaysia and a serviced residence in Vietnam

7 Sustainable Growth with Remaining Developable Period of 10 to 25 years

By Remaining By Remaining Gross Developable Land Development Value (GDV) 1,462 3,295 8.9 19.6 (12%) (11%) (25%) 321 (28%) O (3%) N G O 2,800 11,949 27.8 RM79.4 5.0 (23%) (35%) I 828 billion (6%) N acres (7%)

G 5.5 12.6 (7%) 3,242 (16%) (27%) Legend 2,031 0.02 F (24%) 3,092 0.3 (0.3%) (37%) (4%) U T 8,425 RM8.1 U billion acres (Currently only includes R Kota Elmina, E and Planters’ Haven) 3,302 7.8 (39%) (96%) Notes: 1. Township categorisation: • Guthrie Corridor: (Ongoing) Elmina West, Elmina East, & and , (Future) Kota Elmina & Lagong • Negeri Sembilan: (Ongoing) Nilai, Bandar Ainsdale, Planters’ Haven & Chemara, (Future) MVV and others • Johor: Bandar Universiti Pagoh and Taman Pasir Putih • Greater Valley & Others: 8 • (Ongoing) , KLGCC Resort, , KL East, USJ Heights, , , SJCC and SJ7 • (Future) Jalan Acob, Victoria Estate and others 2 Key Developments

9 Key Developments With remaining development period of about 25 years

Guthrie Corridor Klang South Selangor Johor Expressway Elmina East and West Bandar Serenia City Bandar Universiti Pagoh

Remaining Acreage 2,997 2,800 1,462 3,226 Remaining GDV RM18bn RM13bn RM9bn RM5bn Total Residential Units 26,809 20,859 13,234 9,542 Residential Units 3,819 8,284 704 495 Launched Total Industrial 177 709 196 261 Components

Industrial First launch Acreage Sold 152 265 99 in 1H19

• Along the Guthrie • Klang • Xiamen University, 1st• Pagoh Education Key Corridor • Highly-connected, university branch outside Hub, 1st multi-varsity Catalysts • >3000 acres of close to of China education hub (506 green spaces and KLIA • Horizon Village Outlet acres) with >7,000 10 to open in 4Q20 students Developments along the Guthrie Corridor Expressway KEY HIGHLIGHTS Lagong 1,552 acres 10,297 acres Total land bank along Guthrie Corridor Expressway 6,387 acres Remaining developable land bank Kota Elmina • 52% of total land bank are on ongoing 1,540 acres developments • 48% on future developments (Kota Elmina and Lagong) Elmina West 2,661 acres RM28 billion Remaining: 2,441 acres Estimated remaining GDV Forest Elmina East Reserve 1,089 acres Remaining: 556 acres > 40,000 Total residential units with over 28,400 Denai Alam & Bukit remaining units to be launched Subang 1,250 acres DASH Remaining: 144 acres RRI Good connectivity:  GCE, DASH, NKVE, LATAR and NSE Bukit Jelutong  Mass Rapid Transit-1 (MRT 1) and 2,205 acres Line (KTM) Remaining: 154 acres

11 Elmina East and West - A Wellness Hub

Proposed LRT extension OVERVIEW KEY 3,750 acres HIGHLIGHTS (Remaining: 2,997 acres) Elmina City Centre straddles both sides of the 3,819 GCE from Elmina West to Elmina East, Total residential units forming a prime integrated development hub launched since 2013 • 2,796 units from Elmina West (including RSKU) of RM17.7bn RM200k - RM1,453k Estimated Remaining GDV (RM222 – RM667 psf) • 1,023 units from Elmina 26,809 units East priced between RM600k – RM2,308k Total estimated residential units (RM307 – RM564 psf) • 2,143 residential units have 300 acres completed to-date Elmina Central Park 152 2,700 acres Acres of industrial land sold Tasik Subang Dam Forest Reserve (RM89 – RM127psf) 42 acres Wellness Cluster 576 Delivery of residential units from Elmina Valley 3 & 4 in 90 km Elmina West and Tiana and Combined jogging and cycling track Viana in Elmina East

An Award-Winning Township • Winner in Best Landscape Architectural Design • Highly Commended in Best Township Development 12 • Winner in Best Universal Also a recipient of People’s Choice Award Design Development by iProperty Malaysia 2018 Bandar Bukit Raja - Highly Connected Township

OVERVIEW KEY HIGHLIGHTS 4,333 acres (Remaining: 2,800 acres) Close proximity to KLIA and Port Klang 6,406 open market residential RM12.7bn units launched since 2011 • RM119.8k – RM1,280.3k Estimated Remaining GDV (RM142 – RM459psf) • 5,297 residential units 20,859 units have completed to-date Total estimated residential units 265 709 acres Acres of industrial land sold Industrial components (RM42 – RM95psf)

High Connectivity via major road infrastructure 230 New North Klang Straits Bypass (Shapadu Delivery of completed Highway) and upcoming West Coast residential units from Expressway (WCE) Persada 1 & 2 in FP2018 RECENT INDUSTRIAL DEVELOPMENTS Bandar Bukit Raja 1 Bandar Bukit Raja 2 39 50 Acres of industrial land Acres of industrial across 10 plots for built-to- land sold to Vinda suit industrial facilities. Group, one of the Potential tenants include largest producers food manufacturers and of hygiene 13 global logistics provider products Serenia City - Industrial and High Technology Hub

OVERVIEW KEY HIGHLIGHTS 2,370 acres (Remaining: 1,462 acres) Close proximity to , Putrajaya, and KLIA 704 RM8.9bn Total residential Estimated Remaining GDV launches to date 13,234 units • FY2018: 302 DSLH Total estimated residential units units of Serenia Amani (RM293- 196 acres RM404psf) Industrial components • FP2018: 176 DSLH High Connectivity units of Adiva Accessible via ELITE Highway, Federal Road, (RM300-RM367psf) ERL & KLIA • 1QFY19: 226 units of Adiva 2 launched Development Catalysts in Mar 2019 • (ERL) 12 minutes to KLIA and 27 minutes to KL Central via the Station 73 • Xiamen University, Malaysia acres of industrial land Campus sold to date starting First Chinese university branch campus outside China with a total capacity of 10,000 from RM60 psf students, with 3,300 current student population. Opened in February 2016. • Horizon Village Outlet One-storey retail lots over total net lettable area of 400,000 sqft with 2,000 covered parking bays. Target to be completed by 4Q 2020. • Sunsuria City An integrated development by Sunsuria which commenced in November 2015 14 Bandar Universiti Pagoh – A University Town

OVERVIEW KEY HIGHLIGHTS 4,099 acres (Remaining: 3,226.1 acres) Malaysia’s First Integrated Township with an Education Hub 495 Residential units launched since March 2016 RM5.2bn • Harmoni Vista 1 & 2 (DSLH) Estimated Remaining GDV from RM365,888 – RM502,888 9,542 units (RM270 – RM335psf) • Harmoni Permai (DSLH) Total estimated residential units was launched in March 261 acres 2019 Industrial components 383 506 acres delivery of completed Pagoh Education Hub as a key residential units in FP2018 and 1QFY2019 (Harmoni Vista) development catalyst

Launches to date with total GDV of >RM108mn Harmoni Vista Sarjana Square Sarjana Promenade (2-storey house) (Shop Office) (Shop Office)

383 units 35 units 35 units 15 From RM365,888 From RM888,888 From RM950,000 Pagoh Education Hub (PEH) st 1 integrated multi-varsity education hub in the country, situated within Bandar Universiti Pagoh

Key Proposition

1 3 Stable Recurring Education Hub as Cash Flow a Key Catalyst For the Next 19 Years to Bandar Universiti Pagoh township 2 Expansion of 4 Facilities Financial Management Performance Services (FM) FY2018 1QFY2019 RM mil RM mil • Estimated average Revenue 125.7 9.0 annual revenue of Profit 67.0 14.0 ~RM30 mil to ~RM50 Before Tax mil over the 19 years PATAMI* 49.4 10.6 • Potential to grow the FM *Based on 100% contribution business as part of the recurring income strategy 16 Malaysia Vision Valley (MVV) Strong support from the State Government

16.8km dual-carriageway Sime Darby Property’s Interest: Nilai Parcel A: 2,838 acres  Owned: Parcel A of 2,838 acres  MVV Option Agreements with SD Berhad: 8,796 acres Key Catalysts:

 A new 16.8km dual carriageway linking

MVV Option Nilai and Labu to Bandar Enstek, which 8,796 acres is expected to be completed by July 2021 Chemara Hills (44 acres)  Existing KTM rail from to Tampin / Pulau Sebang via Labu station

Menteri Besar Negeri Sembilan Launches MVV 2.0 on 13 Dec 2018

 MVV 2.0, a state-led private sector-driven development is a crucial attributor to the state government’s commitment to spur economic growth in Negeri Sembilan  Aligned with the 11th Malaysia Plan Mid-Term Review where emphasis is given to the high-tech industry segments 16.8km NLE Dual Carriageway Existing KTM Rail

17 18

Transit Oriented Others (50.8 acres) Developments (TOD) and Transit Adjacent Developments (TAD) with an estimated remaining GDV of >RM10bn Others (50.5 acres)

SJ 7

Others (28.1 acres)

6T 18 SJCC – The Centre of KEY HIGHLIGHTS LOT 15 P e r s i a r a n K e w a j i p a n Serviced Apartments 30 acres (Remaining: 28.1 acres)

Subang Centrally located within Subang Jaya LRT Subang Jaya matured township and KTM Avenue Komuter Station RM3.6bn

AEON Estimated remaining GDV Big 2.23 acres 3,411 development Future Estimated residential units Development RM270.5 million Subang GDV Parade Easy access via • Federal Highway 361 • Public transportation – 500m units launched in November from KTM Komuter Subang 2017 Jaya and LRT Subang Jaya Empire November 2021 Shopping station Gallery Target completion date Nearby to Floor area • Educational institution – 5 624 to 1,001 sqft minutes to INTI Price per unit from International College RM609,888 to Future • Shopping malls – Subang Development RM1,015,888 Parade, Empire Shopping (RM942 to RM1,053 psf) Gallery 68% Take up rate

19 Cantara Residences – Within 450m to Lembah Subang LRT Station

KEY HIGHLIGHTS 7.12 acres Located in the heart of Ara Damansara, RM635 million Estimated GDV 888 Total serviced apartment units • 700 units launched in May 2016 • 188 units launched in December 2018 May 2020 Target completion date

Floor area 646 to 2,077 sqft

Price per unit from RM602,888 to RM1,979,888 (RM934 to RM953 psf) 84% Take-up rate 6 acres Skypark recreational areas 20 Oasis Ara Damansara Transformation of Ara Damansara to a mixed development

Transforms the look and prospects of Ara Damansara, primarily a residential area by providing a much-needed commercial center

Oasis Central (Office/ retail space/ Oasis Atelier serviced apartments) A Joint Venture (Retail space/ serviced Project by Sime apartments) Oasis Kyla Darby Brunsfield (Serviced apartments) Holdings

LRT Ara Damansara Station LRT Lembah Subang Station

Oasis Square OasisOasis Plantation Oasis Square OasisOasis Gallery (Office/(Office/retail retail space/serviced space/ (Office) (Property(Property exhibition) (Office) servicedapartments) apartments)

Oasis Rio Oasis Tower (Office) (Office/ retail space/ serviced apartments)

Oasis Autocity Oasis Place (Oasis Corporate Park (1) Oasis Mall (Office/ Automobile (Serviced apartments, (Hotel/ office/ retail space/ (Complex commercial) Exhibition) retails space) serviced apartments)

(1) Parts of Oasis Corporate Park have been completed (Medalla, Centum, Meritus, and Augustus). 21 KLGCC Resort, Kuala Lumpur – Resort-style Living alongside one of the World’s 100 Greatest Golf Course KEY HIGHLIGHTS Senada Future An Upmarket Residential Development Project, Adjacent to TPC KL 62 acres (Remaining: 50.5 acres) Ideally located in the pristine 4.03 acres landscape of Bukit Kiara development

Future RM915 million Development RM7.1bn GDV Estimated remaining GDV 429 units of serviced Jendela apartment 2,465 Launched in September 2016 Estimated residential units May 2021 Target completion date TPC Kuala Lumpur Floor area World’s 100 Greatest Golf 710 to 1,872 sqft Course 2018/2019 Price per unit from RM978,800 to • 36-hole golf course RM2,958,780 Future • Host to numerous (average RM1,187 psf) Development international championships - CIMB Take up rate Classic, LPGA, Maybank Tower A: 51% Open Tower B: 26%

22 KL East – A Transit Adjacent Development

MIXED DEVELOPMENT TO GOMBAK KEY HIGHLIGHTS (19 min / 15km) @ KL EAST 160 acres (Remaining: 50.8 acres) A Flourishing Bloom Ideally situated within Klang KYS Gates quartz ridge, the longest International quartz ridge in the world School (6 acres) RM2.5bn • 6.74 acres development with Estimated remaining GDV GDV of RM744 million • Target completion: May 2020 2,458 units • Price per unit from Estimated residential units RM516,888 to RM1,017,888 (RM800 to 850 psf) Gombak 53 acres • Floor area from 651 to 865 Integrated sqft Transport Forest park Terminal • Tower A: 254 units launched (GITT) High Connectivity in May 2016 (57% take-up) • Linked by major highway – • Tower B: 128 units launched MRR2 in April 2019 (81% take-up) • 800m from Gombak The Veo Integrated Transportation KL East Mall Terminal (LRT • Lifestyle suburban mall with Line and RapidKL bus hub) 380,000 sqft retail space • Expected to open in 4th Access to Kolej Quarter 2019 • Anchor tenants: MBO, Jaya Yayasan Saad Grocer, Camp 5, Blue Frost • Top international school with Ice Rink expected student capacity of 1000 students

TO AMPANG (25 min /17km)

23 Melawati – A Mature Township

Serini Melawati KEY HIGHLIGHTS Serini Melawati Stylish Living 880 acres (Remaining: 2.3 acres) Tranquil residential park

RM0.2bn 3.64 acres Estimated remaining GDV Central Park Melawati development 5,178 units RM361 million Estimated residential units GDV Nearby 528 units • Melawati Mall (5 minutes Completed in August 2018 walk) • Damai Service Hospital Floor area Melawati Mall • KLCC (15-minutes drive) 633 to 1,494 sqft Price per unit from RM580,888 to

• 50/50 Joint venture between RM1,430,888 Sime Darby Property and (RM800 to RM850 psf) CapitaLand Malls • 635k sqft of net lettable area 66% • 180 local and international Take-up rate brands • 8 million shoppers over time Damai Service • 88% occupancy rate Hospital • 9% gross yield

Melawati Corporate Centre

24 Financial and 3 Operational Highlights

25 First Quarter Ended 31 March 2019 Performance

1QFY2019 1QFY2018 In RM’m YOY % (Jan – Mar 2019) (Jan – Mar 2018)

Revenue 575.1 559.5 2.8%

Segment Results 73.6 25.7 186.9%

PBIT 278.0 37.2 647.5%

PBT 301.5 43.0 601.1%

PATAMI 265.1 33.7 687.3%

Basic EPS (sen) 3.9 0.5 687.3%

C a) Revenue increased YoY mainly from: O • Higher sales and development activities from Bandar Bukit Raja, Denai Alam, Nilai M Impian/Utama township and Cantara Residences M • Higher revenue from facility and asset management services and TPC, Kuala Lumpur E b) Segment results primarily due to: N • Share of results from joint ventures and associates improved to profit of RM3.5m from loss of T RM17.1m in 1QFY2018 A c) Higher PBIT and PATAMI attributable mainly to: R • Improvements in all three business operating segments Y • Gain on disposal of Darby Park Executive Suites, Singapore of RM203.4m (1QFY2018: gain on disposal of investment properties in the United Kingdom of RM9.4m) Note: • The Group has changed its financial year-end from 30 June to 31 December. Comparative figures (e.g. 1QFY2018) consist of 3 months results beginning 1 January 2018 to 31 March 2018. • With effect from 1 January 2019, the Group has combined the Property Investment and Concession Arrangement which have 26 similar economic characteristic as a single operating segment. Following the reorganisation, the Group has 3 main business segments – property development, property investment and leisure and hospitality. PBIT for the First Quarter Ended 31 March 2019 (RM’m) Major One-off Items Core 198.6 5,192.3% Disposal of Investment Properties: RM9.4m Reversal of Impairment of Disposal of PPE: RM1.3m 110.4% Darby Park 1.5% Singapore: 72.8 RM203.4m 34.6 6.6 6.5

(2.9) (4.8) (5.2) (3.9) Jan - Mar 2019 Jan - Mar 2018 Jan - Mar 2019 Jan - Mar 2018 Jan - Mar 2019 Jan - Mar 2018

Property Development Property Investment Leisure & Hospitality

. Higher contribution from Bandar Bukit Raja, Denai Alam, Nilai Impian/Utama townships and Cantara Residences in Ara Damansara due mainly to higher sales and development activities Property Development . Share of profit from JV/Assoc of RM1.8m mainly attributable to the higher contribution from PJ Midtown and lower share of losses from Battersea and Sime Darby Sunrise (1QFY18: Share of loss of RM19.0m, mainly due to share of RM12.0m impairment losses in Sime Darby Sunrise)

. Higher contribution from facility and asset management services of RM2.5m (1QFY18: RM0.6m) Property . Higher occupancy rate achieved at Melawati Mall of 84% as compared to the corresponding quarter of the Investment previous year of 78% . 1QFY18 includes gain on disposal of investment properties in the United Kingdom of RM9.4m

. Higher revenue recorded by TPC, Kuala Lumpur Leisure & Hospitality . Includes gain on disposal of Darby Park Executive Suites, Singapore of RM203.4m (1QFY18: Includes reversal of impairment of PPE of RM1.3m)

27 Note: With effect from 1 January 2019, the Group has combined the Property Investment and Concession Arrangement which have similar economic characteristic as a single operating segment. Following the reorganisation, the Group has 3 main business segments – property development, property investment and leisure and hospitality. Cash and Debt Position as at 31 March 2019

CASH & CASH EQUIVALENTS (RM’m) 900.0 • Higher net cash inflow from 99.6 11% operating activities mainly due 800.0 87.4 721.3 to higher sales from inventories in 700.0 649.1 (114.5) (0.4) Bandar Bukit Raja, Serenia City 600.0 and Cantara Residences, Ara 500.0 Damansara

400.0 • Positive net cash flow from 300.0 investing activities mainly due to 200.0 proceeds from disposal of Darby 100.0 Park Executive Suites, Singapore

0.0 31-Dec-18 Operating Investing Financing Foreign 31-Mar-19 • Net cash used in financing Activities Activities Activities Exchange activities include finance costs paid (RM39m) and repayments of GROUP BORROWINGS long-term borrowings (RM119m) (RM’m)

1,347.8 (41%) Gross D/E Ratio 3,200.2 33.0% 3,273.0 Long Term (31 Dec’18: 34.6%) 1,342.0 1,858.2 Short Term (42%) (58%) 1,925.2 (59%)

31-Mar-19 31-Dec-18 28 Launched and Completed Inventories as at 31 March 2019 Carrying Value Units (RM’m)

4% Launches 1 Jan - 31 Mar’19 Units 474 units RM2,119.3m Taman Melawati (12%) 266 RM2,032.3m (MCC & Serini) KLGCC Resort 94 Bukit Jelutong 93 Total: Completed Planters' Haven 61 Projects 3,821 units Saujana Impian 56 7% 871.3 (Dec’18: 4,016) 829 units 813.4 Chemara East 45 (Sep’18: 4,469) (22%) KL East (The Veo) 45 The Glades 24 Elmina West 11 Launches prior Others 134 1 Jan’19 Total 829 2,518 units (66%)

1,218.9 2% 1,248.0  Completed units: 6% QoQ (vs. 883 units) due to higher sales from: Serini (Taman Melawati), Bandar Ainsdale and East Residence (KLGCC Resort)  Launches prior to 1QFY2019: 20% QoQ (vs 3,133 units) due to higher sales from: Cantara (Ara Damansara), Serenia Adiva (Serenia City), Elmina Green 1 31-Mar-19 31-Dec-18 (Elmina West) and Ayra 2 (Bandar Bukit Raja). Launched Completed Inventories Inventories

29 Sales Performance and Launches in 1QFY2019

…Supported by Strategic Launches in Steady Sales Performance… 1QFY2019 Net Sales Value Value: Units: RM’m RM362.8 mil 474 57% 55% of sales originated 403 Putra Heights (Irama Square) from townships in Greater (Commercial Landed) 256 , followed by No. of Units : 20 units townships along the Guthrie Value : RM23.2 million Corridor (25%) and Klang Launch Date : 22 February 2019 Take-up : 100% (14%) Serenia City (Adiva 2) (2-storey house) 1QFY19 1QFY18 No. of Units : 226 units Value : RM145.2 million Launch Date : 9 March 2019 Take-up : 85% Units Sold Elmina West (Elmina Valley 5) (2-storey house) 41% No. of Units : 168 units Value : RM168.6 million 1,134 16% of the units sold in Launch Date : 23 March 2019 1QFY19 are statutory units Take-up : 99% 669 vs 29% in 1QFY18, mainly Bandar Universiti Pagoh from projects launched in (Harmoni Permai) FY16 and FY17 in BBR and (2-storey house) Putra Heights No. of Units : 60 units Value : RM25.8 million Launch Date : 30 March 2019 Take-up : 42%

1QFY19 1QFY18 30 Resilient Unbilled Sales as at 31 March 2019

1QFY2019: RM2,051 million 6% QoQ (31 Dec’ 18: RM2,182 million) FY2019 Target: RM2.0 billion 34% YoY (31 Mar’18: RM1,531 million)

Expected RM million Recognition of Unbilled Sales

2,051 ~69% 89 17 143 467

455

880

~31%

Greater Klang Along GCE Negeri Kedah Johor Total FY2019 FY2020 - Klang Valley Sembilan (300 acres of FY2022 land in Bukit Selarong) QoQ %: (1) (11) (11) (1) - (17) (6)

31 April – December 2019 Launches

April 2019 Launches (Actual) May – Dec’ 19 Future Launches

Value: RM0.6bn Units: 612 Value: RM1.66bn Units: 1,753

Elmina East (Reesia) (Semi-Detached Residential) By Type No. of Units : 42 units Residential (Landed) Value : RM79.8 million Take-up : 21% 16% Residential (High Rise) 4% 25% Residential (Statutory / Putra Heights (The Alcove) Affordable) (Strata Condominium) Commercial

No. of Units : 72 units 10% Industrial Value : RM90.9 million 32% Take-up : 47% 8% Lot (Agri, Resi, Commercial) Bandar Bukit Raja (Elsa) Lot (Industrial) (2-storey Link House) 5% No. of Units : 165 units Value : RM91.9 million By Location Take-up : 97%

KL East (The Ridge) 6% Along GCE (Strata Serviced Apartment) 22% Klang No. of Units : 128 units Greater Klang Valley Value : RM101.7 million Take-up : 83% 39% N. Sembilan 14% Elmina West (Elmina Valley 5) Johor (2-storey Link House) 19% No. of Units : 205 units Value : RM215.2 million Take-up : 93% 32 4 Growth Strategies & Key Focus in 2019

33 Sustainable & Balanced Growth Strategies To Reach Our Vision

LEADER IN BUILDING SUSTAINABLE COMMUNITIES

OUR ASPIRATIONS ASPIRATIONS Consistent Sustainable Consistent Improved Enhanced Culture of Shareholders PATAMI Sales Operational Customer Excellence Return growth Performance Efficiency Experience

FIVE KEY STRATEGIC PILLARS REVENUE GENERATORS ENABLERS

EXPANDING ENHANCING ACHIEVING A B LAUNCHING C D E IMPROVING DEVELOPMENT OVERALL COST & NEW GROWTH ORGANIZATIONAL PORTFOLIO CUSTOMER OPERATIONAL AREAS EFFECTIVENESS INCOME EXPERIENCE EFFICIENCIES

• Township: • Enhance Property • Enhance data • Diligent cost • Improve project Enhance GDV and Investment income driven management management review strategic contribution via customer • Review Leisure governance masterplan Industrial & insights division business • Executive optimal • Integrated: Logistics • Roll-out online model strategic Improve Development community • Shorter end-to- partnership model capabilities & • Focus on profitable marketplace end development • Strengthen talent income affordable housing and digital cycle for both & performance contribution projects innovation township & management • Launch of Malaysia (dTo) integrated Vision Valley products project

34 We have translated our 5 strategic pillars into 20 initiatives (SHIFT20) to transform the company over the next 5 years STRATEGIC PRIORITIES STRATEGIC INITIATIVES 1 Improve Township profitability 4 Active land bank A EXPANDING management DEVELOPMENT 2 Strengthen Integrated capabilities 5 Reduce unsold stocks PORTFOLIO S & profitability INCOME 3 Execute Battersea project successfully

Launch profitable Affordable B LAUNCHING 6 Launch Malaysia Vision Valley 8 (MVV) Housing business NEW H GROWTH Improve Property Investment 9 AREAS 7 Scale-up Industrial & Logistics profitability and review of business Hospitality portfolio

REVENUE GENERATORS REVENUE ENHANCING I 10 Enhance sales & improve end- 11 Roll-out online community OVERALL to-end customer journey marketplace & digital C CUSTOMER innovation EXPERIENCE F 12 Reduce direct cost and 14 Achieve sustainable Leisure ACHIEVING improve gross profit margin Management business D COST & 15 Improve end to end Development OPERATIONAL T 13 Strengthen overhead cost cycle EFFICIENCIES management 16 Implement transformative tactical initiatives across all functions

17 Strengthen project management 19 Strengthen company-wide People IMPROVING governance and capabilities for Management framework ENABLERS E 20 ORGANIZAT- Development and Operations IONAL EFFECTIVENESS 18 Execute optimal strategic 20 Execute change management & partnership & JV model communication plan

SHIFT20 Benefit Uplift for the financial period ended 31 December 2018 is RM39.5 million from overheads cost avoidance and cost savings. 35 Key Strategies and Focus for 2019

Demand-driven Launches Manage Inventory Levels 1 2 Products launched are aligned to Careful review of launches, taking market demand in relation to into account existing inventories. price, type, location and timing to Manage inventories at ensure high take-up of new sustainable levels and focus on launches. Focus on affordable-mid completed unsold products (883 range products (RM500k – RM800k) units remaining) to manage working in Elmina, Bandar Bukit Raja and capital. Serenia City.

Expand Recurring Income 3 Unlock Value from Low- 4 yielding Assets and Non- Base - Capitalise on core Land Strong Demand in Complete timely disposal of low- Industrial Segment yielding hospitality and leisure Leverage on strategic location of assets, and non-core land to land bank and partnerships to generate cash and better capital expand further into industrial management. segment.

36 Continuous Marketing Efforts to Maintain Momentum of High Sales

March – April 2019 May – June 2019

PRIMETIME 8

8 New projects >1,100 launches including dto units booked platform

Achieved 77% >RM1bn Average take-up Sales throughout campaign

 K e y p r o d u c t h i g h l i g h t s : o Elsa (Bandar Bukit Raja), the first product  K e y c a m p a i g n h i g h l i g h t s : under the Affordable Collection and Elmina o The Pop Raya 2019 Campaign will Valley 5a, recorded 100% & 98% take-up continue to help the Group maintain its rates respectively on its launch day momentum of high sales and take-up of its products in the coming quarters o The Ridge in KL East, also enjoyed a strong 37 take up of more than 70% A new verb in the Property Industry dto (pronounced as ‘ditto’) is an innovative co-creation and crowd sourcing platform that is expected to transform the future of property buying. dto is a result of a shift in mindset from building with our potential customers in mind to building with our potential customers involved. dto allows potential customers to vote for their preferred development concept, design and amenities of a future property.

Transport Commu- Food Entertain INDUSTRY Banking GPS Property E-wallets Hotel Shopping

-ation nication Delivery -ment PLATFORMS

2 Residential High-Rise Projects currently on the dto platform

dto_001 dto_002 • Subang Jaya, Freehold • Putra Heights, Freehold dto_003 • Target Launch for Sale : • Target Launch for Sale : • Coming soon August 2019 Early 2020 • Landed • Within walking distance • Within walking distance to to Empire Shopping Putra Heights LRT Station Gallery

38 Cautionary Note

This presentation does not constitute and is not an offer to sell or the solicitation of an offer to buy securities of any company referred to in this presentation in the United States or elsewhere. The companies referred to herein have not registered and do not intend to register any securities under the US Securities Act of 1933, as amended (the “Securities Act”), and any securities may not be offered or sold in the United States absent registration under the Securities Act or an exemption from registration under the Securities Act. By attending the presentation you will be deemed to represent, warrant and agree that to the extent that you purchase any securities in any of the companies referred to in the presentation, you either (i) are a "qualified institutional buyer" within the meaning of Rule 144A under the Securities Act, or (ii) you will do so in an "offshore transaction" within the meaning of Regulation S under the Securities Act. This presentation may contain forward-looking statements by Sime Darby Property Berhad that reflect management’s current expectations, beliefs, intentions or strategies regarding the future and assumptions in light of currently available information. These statements are based on various assumptions and made subject to a number of risks, uncertainties and contingencies. Actual results, performance or achievements may differ materially and significantly from those discussed in the forward-looking statements. Such statements are not and should not be construed as a representation, warranty or undertaking as to the future performance or achievements of Sime Darby Property Berhad and Sime Darby Property Berhad assumes no obligation or responsibility to update any such statements. No representation or warranty (either express or implied) is given by or on behalf of Sime Darby Property Berhad or its related corporations (including without limitation, their respective shareholders, directors, officers, employees, agents, partners, associates and advisers) (collectively, the "Parties") as to the quality, accuracy, reliability or completeness of the information contained in this presentation (collectively, the "Information"), or that reasonable care has been taken in compiling or preparing the Information. None of the Parties shall be liable or responsible for any budget, forecast or forward-looking statements or other projections of any nature or any opinion which may have been expressed or otherwise contained or referred to in the Information.

39 40

THANK YOU

SIME DARBY PROPERTY INVESTOR RELATIONS

Email Address : [email protected] Telephone : +(603) 7849 5000 Website : https://www.simedarbyproperty.com/investor-relations 5 Appendices

41 Share Price Performance Movement of Sime Darby Property against its peers from 30 November 2017

Close as at RM Close as at 30 Nov 28 June % Chg 2017 4.50 2019 SP Setia: SP Setia: 36 RM3.49 4.00 RM2.16

IOI Properties: 3.50 IOI Properties: 31 RM1.89 RM1.38

Eco World Dev: 3.00 Eco World Dev: 40 RM1.54 RM0.83 2.50 Mah Sing: Mah Sing: 39 RM1.52 RM0.92 2.00 Sime Darby Sime Darby Property: Property: 8 RM1.20 1.50 RM1.03 UEM Sunrise: UEM Sunrise: RM1.05 1.00 RM0.80 19

0.50

0.00

08 08 18Jul 18 18Jul 28 18Jul

09 Jan 18 09 Jan 18 19 Jan 18 29 Jan 19 04 Jan 19 14 Jan 19 24 Jan

06 Oct 18 06 Oct 18 16 Oct 18 26 Oct

08 Jun 18 08 Jun 18 18 Jun 18 28 Jun 19 03 Jun 19 13 Jun 19 23 Jun

09 Apr 18 09 Apr 18 19 Apr 18 29 Apr 19 04 Apr 19 14 Apr 19 24 Apr

18 Feb 18 Feb 18 19 Feb 23 08 Feb 18 08 Feb 18 28 Feb 19 03 Feb 19 13 Feb

10 Mar 18 10 Mar 18 20 Mar 18 30 Mar 19 05 Mar 19 15 Mar 19 25 Mar

10 Dec 17 10 Dec 17 20 Dec 17 30 Dec 18 05 Dec 18 15 Dec 18 25 Dec

06 Sep 18 06 Sep 18 16 Sep 18 26 Sep

07 Aug 07 18 Aug 17 18 Aug 27 18 Aug

25 Nov 18 Nov 25 30 17 30 Nov 18 05 Nov 18 15 Nov

19 May 18 May 19 09 May 18 09 May 18 29 May 19 04 May 19 14 May 19 24 May

SIME DARBY PROPERTY BHD IOI PROPERTIES GROUP BHD SP SETIA BHD UEM SUNRISE BHD ECO WORLD DEVELOPMENT GROUP MAH SING GROUP BHD

Source: Bloomberg as at 28 June 2019 42 Land Bank Status as at 31 Mar 2019 ~20k acres of remaining developable land bank with a remaining GDV of RM87.5bn

Total Area Remaining Developable Township/Development Name Remaining GDV (RM’bn) (Acres) Area (Acres)

Niche / Integrated KLGCC Resort, Kuala Lumpur 62 50.5 7.1 Chemara Hills, Seremban 44 3.0 0.04 USJ Heights, Subang Jaya 375 11.1 0.2 SJ 7, Subang Jaya 35 34.6 5.3 SJCC, Subang Jaya 30 28.1 3.6 KL East 160 50.8 2.5 Township City of Elmina: Elmina West, 2,661 2,440.8 15.3 City of Elmina: Elmina East, Shah Alam 1,089 556.5 2.4 City of Elmina: Denai Alam & Bukit Subang 1,250 143.9 1.0 Bandar Bukit Raja 2 & 3, Klang 2,820 2,646.6 11.5 Bandar Bukit Raja 1, Klang 1,513 153.7 1.2 Serenia City, , 2,370 1,462.0 8.9 Putra Heights, Subang Jaya 1,796 77.4 3.4 Ara Damansara, Petaling Jaya 693 62.1 5.6 Bukit Jelutong, Shah Alam 2,205 154.2 1.1 Saujana Impian, 600 4.1 0.03 Taman Melawati, 880 2.3 0.2 Nilai Impian 2, Nilai 546 426.0 3.1 Nilai Impian 1, Nilai 1,263 157.6 0.8 Bandar Ainsdale, Seremban 562 157.7 1.1 Planters' Haven, Nilai 250 83.6 0.1 Bandar Universiti Pagoh, Muar 4,099 3,226.1 5.2 Taman Pasir Putih, Pasir Gudang 356 16.3 0.2 TOTAL ONGOING DEVELOPMENT 25,659 11,949 79.4 TOTAL FUTURE DEVELOPMENT 8,425 8.11 GRAND TOTAL 20,374 87.5 43 Note: 1. Future remaining GDV is preliminary and currently excludes MVV Land Options Agreements Option to Increase Land Bank Totaling ~16k acres

1. Land Options 1 6 , 8 5 5 2. MVV Options Agreement Agreement with Sime Darby Plantation a c r e s with Sime Darby Berhad 8,059 acres 8,796 acres

On 17 June 2019, SD Property Kumpulan Sime Darby and entered into 5 supplemental Sime Darby Property entered agreements with SD into several call option Plantation to vary, replace agreements for lands within and substitute some of the the MVV development option lands under the Call region Option Agreements executed on 25 August 2017. Options Validity: 5 The earlier total land size years effective under Option of 11.8k acres Nov’2017, extendable by have been reduced to 8.1k 3 years acres. Selangor Negeri Sembilan Located in Labu, Negeri Sembilan Bukit Cheraka estate: 2,540 acres Bukit Kerayong estate: 1,077 acres Jalan Acob estate: 2,177 acres West Estate, : 1,350 acres Kulai, Johor

Kulai estate - A: 915 acres

44 SJ7 – Strategically located in USJ

KEY HIGHLIGHTS FIRST

SEGI College 34.6 acres (Remaining: 34.6 acres) RESIDENTIAL Subang Jaya DEVELOPMENT RM5.3bn Estimated remaining GDV 4.30 acres Mixed Development development Serviced Apartments, Retail, Office RM490.1 million GDV 4,269 Estimated residential units 843 (incl. affordable housing) Serviced apartment units Transit Adjacent March 2021 Development USJ 7 LRT and Expected launch date BRT Station Phase 1 • LRT - USJ7 station Floor area • BRT station Sunway Line – 620 to 920 sqft USJ7 station

Easy access to Price per unit from • Da Men mall, Giant RM465,000 to SJ 7 Hypermarket, Mydin RM690,000 (500 m – 5 minutes walking (RM750psf) distance) • Segi College Subang Jaya (Figures based on (800 m – 11 minutes walking estimates) distance)

45 Unlock Value from Battersea Project The Power Station Phase Two Commercial Assets 100% of commercial space taken up

TOTAL RESIDENTIAL UNITS LAUNCHED  The Disposal of Phase 2 Commercial Assets 867 to PNB-Kwasa International was completed Take-up: 99% 539 on 14 March 2019 255 Take-up: 63%  A JV company of PNB (65%) and EPF Take-up: 91% (35%)  Base purchase price payable of £1.58bil Phase 1 Phase 2 Phase 3A  The staged payments and initial completion payments are capped to a maximum cost funding commitments of  Successful completion and handover of Phase 1 £1.4bil . FY17: 321 units, FY18: 534 units, FP2018: 3 units  Total ~1 million sqft of Net Lettable Area comprising:  Cumulative share of profit recognized since FY17: • 90 retail units ~305k sqft RM226m • F&B outlets ~89k sqft • Office spaces ~580k sqft  Northern Line Extension is expected to be  Main tenants: ~470k sq. ft. completed by end-2020 And ~40k sq. ft. 46 Highly-Qualified Board of Directors

Sime Darby Property Board

Governance & Nomination & Risk Management T e n d e r A u d i t Remuneration Committee (RMC) Committee(TC) Committee(GAC) Committee(NRC)

Accountable for holistic Ensure effective Oversee the process of Responsible for all matters relating risk management corporate governance awarding material to the nomination of new Directors framework and efficacy of contracts and assessment of Group Managing internal controls Director and his direct reports Tan Sri Dr. Zeti Akhtar Aziz Non-Independent Non-Executive Chairman

Tengku Datuk Seri Ahmad Shah Alhaj ibni Almarhum (To be Announced) Sultan Salahuddin Abdul Aziz Shah Alhaj Group Managing Director Independent Non-Executive Director (Chairman of TC and Member of RMC)

Dato' Johan Ariffin Dato' Jaganath Derek Steven Dato' Seri Ahmad Johan Mohammad Independent Non- Sabapathy Raslan Executive Director Independent Non-Executive Director Independent Non-Executive Director (Member of NRC and RMC) (Chairman of RMC, Member of GAC and TC) (Chairman of GAC, Member of NRC and TC)

Datin Norazah Encik Rizal Rickman Datuk Dr Mohd Daud Datuk Poh Pai Kong Mohamed Razali Ramli Bakar Independent Non- Independent Non- Non-Independent Non- Non-Independent Non- Executive Director Executive Director Executive Director Executive Director (Chairman of NRC and (Member of GAC) (Member of RMC and TC) (Member of NRC) Member of GAC)

47 Strong Management Team

Strong management team with relevant experience and a proven track record in the real estate industry

Datuk Redza Rafiq Abdul Dato’ Wan Hashimi Quek Cham Hong Razak Albakri Chief Operating Officer – Chief Executive Officer, Acting Chief Executive Integrated Malaysia Vision Valley 2.0 & Officer Director of Investment

Betty Lau Sui Hing Gerard Yuen Yun Wei Choo Suit Mae Group Chief Financial Officer Chief Marketing & Sales Officer Group General Counsel

Fairuz Radi Chief Transformation Officer Nurashikin Md Sharif Richard Ng Choon Seng & Head, Group Managing Chief People Officer Head, Procurement Director’s Office

Raymond Chong Chee On Aravindan Devapalan Nair Tang Ai Leen Senior General Manager, Chief Corporate Assurance Chief Risk and Compliance Development Services Officer Officer

48 Sime Darby Property’s Rigorous Asset Monetisation Journey

FP2018 & FY2015 FY2016 FY2017 FY2018 Beyond

 Sold 135 acres  Sold 375 acres  Sold 803 acres  Sold 298 acres of FP2018 of Elmina land to of Serenia City of New Lunderston  Sold 39 acres of Eastern & land to Sunsuria land to I&P: estate land: land in BBR: Oriental (E&O): and 238 acres of RM413mil RM84mil RM76mil RM48mil Semenyih land: RM320mil  Sale of 1  Sale of 40% Beyond Target disposal of  Sale of Subang investment equity stake in ~1,700 acres of Avenue Mall:  Sale of property in Seriemas land RM55mil Equatorial Hotel Singapore: Development • Bukit Selarong in Melaka and 2 RM131 mil and 100% stake (300 ac.)  Sale of 50% properties in in MLDC: RM318 • Jerai Estate stake in Singapore: mil (~1,300 ac.) Sunsuria JV: RM486mil • U-thant and Sabah (~40 ac.) RM157mil 2 hospitality assets i.e. Darby Park Residences in Singapore and Vietnam

Rigorous focus on monetising non-strategic land bank and non-core assets which translated to over RM2 billion of gains

49 Our History Taman Melawati

• Negara Properties, the subsidiary of Golden Hope Plantations launched its 1972 first township – Taman Melawati (880 acres) • Sime UEP was established through the acquisition of a large stake in United Estates Projects Bhd, the developer of Subang Jaya township 1984 (2,241 acres) • Guthrie Property Development Holding Bhd, a subsidiary of Kumpulan Guthrie Berhad launched its first township – Bukit Jelutong (2,205 Subang Jaya 1995 acres) • Launched and transformed Nilai Impian 1 (1,263 acres) into a comprehensive township at the Pajam Nilai interchange along the North- 1997 South Expressway • Completion of the Guthrie Corridor Expressway (25 km) which 2005 connect Shah Alam to Rawang • Sime Darby Property Division was established following the historical merger of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden 2007 Hope Plantations Bhd Bukit Jelutong • Sime Darby Property, SP Setia and EPF acquired the iconic Battersea Power Station for GBP400mn (42 acres) 2012 • Signed concession agreements with government of Malaysia and four higher learning institutions to develop Pagoh Education Hub • City of Elmina was launched (5,000 acres) 2013 • Started the developments of Denai Alam, Bukit Subang and Elmina East City of Elmina • Launched Bandar Bukit Raja 2 (~1,400 acres) and Serenia City 2016 (2,370 acres)

• Listing of Sime Darby Property on to Bursa Securities Malaysia on 30 2017 November 2017

• Sime Darby Property’s inclusion into FTSE4Good Index and Dow 2018 Jones Sustainability Index

50