SIME DARBY BERHAD Citibank Malaysia Investor Symposium 2019 4 September 2019 STRICTLY PRIVATE & CONFIDENTIAL Disclaimer

This document is strictly confidential to the recipient. It is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. Upon request, you shall promptly return this document all other information made available in connection with this document, without retaining any copies. The distribution of this document in other jurisdictions may be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.

This document does not constitute and is not an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase any securities of any company referred to in this document in any jurisdiction. 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.

By attending this presentation and accepting a copy of this document, you represent and warrant that (i) you have read and agreed to comply with the contents of this notice; (ii) you will maintain absolute confidentiality regarding the information contained in this document including information presented orally or otherwise in accordance with your confidentiality obligation; and (iii) you are lawfully able to receive this document and attend this presentation under the laws of other jurisdiction in which you are subjected and other applicable laws.

This document is for the purposes of information only and is not intended to form the basis of any investment decision. This presentation may contain forward- looking statements by Sime Darby 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 and accordingly, 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 Berhad and Sime Darby Berhad assumes no obligation or responsibility to update any such statements.

No representation or warranty, express or implied, is given by or on behalf of Sime Darby 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, fairness or completeness of the information contained in this presentation or its contents or any oral or written communication in connection with the contents 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.

The Information is and shall remain the exclusive property of Sime Darby Berhad and nothing herein shall give, or shall be construed as giving, to any recipient(s) or party any right, title, ownership, interest, license or any other right whatsoever in or to the Information herein. The recipient(s) acknowledges and agrees that this presentation and the Information are confidential and shall be held in complete confidence by the recipient(s).

All the images, pictures and photos including design drawings in relation to the company’s property development projects contained in this document are artist impression only and are subject to variation, modifications and substitution as may be recommended by the company’s consultants and/or relevant authorities.

1 STRICTLY PRIVATE & CONFIDENTIAL Table of Contents

Section Page

1. Sime Darby Berhad 3

2. Motors Division 14

3. Industrial Division 25

4. Logistics Division 36

5. Healthcare Division 40

6. Others 43

7. Appendices 45

2 STRICTLY PRIVATE & CONFIDENTIAL

Company overview

3 STRICTLY PRIVATE & CONFIDENTIAL Latest Developments (1/2)

US-China Trade War; China slowdown • 1 Sep: China imposed 5-10% tariffs on 5k items from USA; US imposed 15% tariffs on USD112bn Chinese imports • China lets the Renminbi weaken to 7 vs. USD, its lowest in a decade. As 40% of SDB’s earnings are from China, a weakened Yuan means lower translated earnings for the Group. • China's economic growth has slowed to 6.2% in 2Q19, its worst performance in almost three decades. Vehicle sales have dropped more than 12% in the first six months of 2019, signaling an even worse year than 2018. • China has introduced stricter vehicle emissions regulations in July and the long term switch to new energy vehicles through minimum sales quotas, further impacting passenger vehicle sales.

Positive mining outlook • Queensland Labor government has granted the final environmental approval for Adani mine. Construction has now begun. • Queensland is opening 5 new areas for metallurgical and thermal coal exploration. • Analyst have set the coking coal price forecast for 2019 at $195/tonne and predict prices will remain elevated, with strong demand from China’s steel sector as US-China relations deteriorate and higher probability of stimulus injection by the Chinese government.

Shift in Mobility trends • Electric Vehicles: China is expected to sell 1.6 million new energy vehicles in 2019 (increase in 30% YoY); BYD reported 73.2% YoY growth in EV sales in 1HCY19; China now home to 1mil EV charging posts. • Ride-hailing: Uber suffered a loss of USD5.2bn in Q2CY19. Despite this, the top four ride-hailing companies in the world – Didi, Uber, Lyft, and Grab – have a combined valuation of $166 billion. Weak growth outlook for Malaysia • Standard Chartered cut GDP growth forecast for Malaysia to 4.6% (previously 4.9%) due to impact from a poor external environment where investment growth is expected to remain soft, despite the resumption of large infrastructure projects, (eg: ECRL, Bandar Malaysia). 4 STRICTLY PRIVATE & CONFIDENTIAL Latest Developments (2/2) Minimal direct impact due to localization

Total Goods hit with Tariffs imposed by US and China during the Trade War (2018-2019) (USD bn) US Tariff Action 200 200 China Tariff Action 112 60 60 75 34 34 16 16

July '18 Aug '18 Sept ' 18 May '19 Sept ' 19

Aug 2019 • Central bank of China let the RMB fall over 2% to the lowest point since 2008

• China imposed 5% to 10% tariffs on one-third of the 5,078 goods it imports from US Sept 2019 • US imposed new 15% tariffs on about $112 billion of Chinese imports

Motors Industrial Direct • Minimal impact as 75% of BMWs sold in China are • CAT equipment sold in China are sourced from China, Impact manufactured locally Indonesia, India, Thailand, Brazil, UK • Bestselling BMW models in China are 3 series, 5 • Minimal impact as ~95% of machine sales are from series, 7 series and X5 (50% of sales) factories in China • All are locally assembled except for the X5 which is CBU • Some parts are imported from the US, but if China imposes from the US (11% of sales) tariffs on these, CAT will be able to source these parts from Korea or Japan

Indirect • Delayed purchases: BMW cars are “nice to have” but not • No negative sentiment observed by China team for Impact “must have” products, hence, customers may hold back CAT products as they are still preferred by customers for purchases if consumer sentiment is weak. being best in class. • However, potential reduction in autos import tariffs should • Infra spending: China plans to put more money into spur demand infrastructure projects to help soften the blow to the economy from the China-US trade war. This should spur equipment sales. 5 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Berhad Leading trading company in Asia Pacific with strong partnerships with premium brands

One of the largest BMW dealers in the world

South Korea One of the largest CAT China dealers globally

Hong Kong 6 hospitals in Malaysia & 18 Countries & Taiwan Indonesia Territories(1) Macau Vietnam (2) ports in China 20,586 Employees Thailand 4

Malaysia Brunei Maldives Singapore Papua New Guinea Solomon Islands Indonesia

Christmas Island New Caledonia FY19 Financials Australia

Revenue PATAMI RM36.2bn RM948mn New Zealand Shareholder’s PBIT Funds RM1,383mn RM14.7bn Industrial Motors Logistics Healthcare

(1) Geographical footprint defined as locations in which Sime Darby Berhad has assets or employees, and includes JV’s operations (i.e. Ramsay Sime Darby Health Care operates in Indonesia); (2) As at March 2019. Excludes employees of Ramsay Sime Darby Healthcare All figures are based on management accounts (unaudited results) 6 STRICTLY PRIVATE & CONFIDENTIAL Business Overview Diversified trading and logistics company; valuable healthcare component

Motors Industrial Healthcare Logistics

. Retail, distribution and assembly . Comprehensive range of . 50:50 JV with Ramsay . Ports and logistics in Shandong, businesses equipment and services, i.e., Healthcare for the management Eastern China . Presence in 10 countries & new and used machine and of hospitals and provision of . Entered Shandong in 2005 and is territories across APAC, over 40 engine sales, rental and full healthcare services currently the largest multi- years experience range of product support services . 3 hospitals in Malaysia and 3 purpose port in Yellow Delta . Represents 31 brands, ranging . Network of more than 109 hospitals in Indonesia River, Shandong from luxury brands (e.g. BMW, branches throughout APAC . Present in healthcare sector since (FY2019; RM million) Porsche, Rolls Royce) to mass . Balanced sectoral exposure in 1985 market brands (e.g. Ford, mining, construction, forestry, 283 PBIT Margin 0.7% (FY2019; RM million) Hyundai), as well as trucking marine and energy ROIC (2) names (e.g. Hino and Mack) . Also provides comprehensive 6.3% 2 . BMW dealer since 1972 and is range of industrial solutions via one of the largest BMW dealer Allied Brands and Energy 784 784 Revenue PBIT group globally Solutions (2) 49 2,253 ROIC . CAT dealer since 1929 and is the 1,989 0.1% third largest CAT dealer globally PBIT Assets Invested (1) (FY2019; RM million) (FY2019; RM million) Capital 21,606 14,113 Assets Invested (1) Capital PBIT Margin 628 798 PBIT Margin 2.9% 5.7% Others

Revenue PBIT Revenue PBIT 10,909 . 12% stake in Eastern & Oriental 9,691 (2) 6,235 ROIC (2) 7,626 ROIC . Own c.8,800 acres of land in the Malaysia Vision Valley 10.1% 10.5% MALAYSIA VISION VALLEY region and 4 corporate towers in Ara Damansara . 30% stake in Tesco Malaysia Assets Invested . Insurance broking services in Malaysia, Singapore, Hong Capital Assets Invested Capital Kong and Thailand (1) (1) All figures are based on management accounts (unaudited results) (1) Invested capital is total assets (excluding tax assets and intercompany balances) less operating liabilities (i.e. all liabilities except borrowings, intercompany balances, leases and tax liabilities) 7 (2) (2) ROIC is PBIT divided by average invested capital STRICTLY PRIVATE & CONFIDENTIAL FY2019: Segmental Information Diversified exposure across segments and geographies, low gearing for expansion

(Financial Year Ended 30 June 2019; RM million) Total Revenue Capital Structure

By Segment By Geography Debt/Equity: 17.03% 15,118 Logistics Others 405 1% 0% SEA (excl. Msia) 12%

Malaysi (2) a Australasia 13% Industrial 32% (2) 14,713 39% (1) Motors 2,575 (1) 60% 1,723 China 43% 178 2397

Equity Debt Cash Revenue: RM36,156m Shareholders' Funds NCI LT Borrowings ST Borrowings Cash

Total PBIT Total Borrowings (By maturity)

By Segment By Geography Total borrowings: RM 2,575m Healthcare Others 3% Logistics -2% SEA (excl. Msia) 2,397 3% 7%

Malaysia (1) (2) 19% Australasia 43% Motors Industrial 52% (2) 40% (1) China 178 31% Short term Long term PBIT: RM1,383m All figures are based on management accounts (unaudited results) 8 (1) China consists of China, Hong Kong, Macau & Taiwan; (2) Australasia consists of Australia, New Caledonia, New Zealand, Papua New Guinea & Solomon Islands STRICTLY PRIVATE & CONFIDENTIAL Our Core characteristics High volume, low margin business with significant footprint across Asia; world class partners

Exposure to megatrends Vast network across Asia Pacific Business is a proxy to: • Established network and strong • Commodity price cycle for Industrials “know how” in the Asia Pacific region • Growing Asian affluence for Motors & Healthcare • Diversified operational footprint with exposure to emerging markets & developed economies

Long-standing High volume, slim partnership with margin business premium brands Characterized by high unit Partner of choice for world sales & good trading margins, leading brands who wish to & good cash flow expand in Asia since since 1929 1972

Low gearing, debt capacity Healthcare a hidden gem for expansion • Premium hospitals in Indonesia & Ample debt headroom for strategic Malaysia expansion & M&As • Significant expansion 17% 30% opportunities in other Asian markets, leveraging on brand Debt to equity ratio Debt to equity ratio Before MFRS 16 After MFRS 16

As of June 2019 9 STRICTLY PRIVATE & CONFIDENTIAL FY2019 Financial Results Reported Profit: Financial year ended 30 June 2019

In RM Million FY2019 FY2018 YoY %

Revenue 36,156 33,828 6.9

PBIT 1,383 1,074 28.8

Finance income 32 104*

Finance costs (124) (113)

Profit before tax 1,291 1,065 21.2

Taxation (281) (380)

Profit from continuing operations 1,010 685 47.4

Non-controlling interests (62) (67)

Net profit from continuing operations 948 618 53.4

Net profit from discontinued operations - 1,301 (100.0)

Net profit attributable to owners of the 948 1,919 (50.6) Company

*Includes finance income from discontinued operations of RM48m.

All figures are based on management accounts (unaudited results) 10 STRICTLY PRIVATE & CONFIDENTIAL FY2019 Financial Results Core Profit of Continuing Operations: Financial year ended 30 June 2019

In RM Million FY2019 FY2018 YoY %

Reported PBIT 1,383 1,074 28.8 Adjustments • Motors Vietnam (12) 199 • Gain on disposals (126)1 (238)2 • Fair value loss on financial assets (MES) 47 - • Share of loss of WPS 119 - • Share of loss /impairment of equity interest in E&O 117 103 • Oil & gas (26)3 284 • Net corporate forex gain & YSD (3) 62 Core PBIT 1,499 1,228 22.1 Net finance costs (92) (56) Taxation (395)5 (282) Non controlling interests (62) (55) Core Net Profit 950 835 13.8

1. Gain on disposal of Weifang Water business (RM78m), Industrial Malaysia property (RM18m), disposal of trademark (RM17m), disposal of bungalows (RM3m), disposal of Sime Kubota (RM10m) 2. Gain on property disposal in Industrial Australia (RM169m), Industrial Malaysia (RM9m), Motors China (RM41m), Motors Malaysia (RM9m), disposal of bungalows (RM10m) 3. ONGC Wellhead arbitration recovery 4. Impairment of oil & gas accrued billings 5. Excludes tax on disposal of Weifang Water (RM13m) and deferred tax credit arising from change in RPGT rate (RM129m) All figures are based on management accounts (unaudited results) 11 STRICTLY PRIVATE & CONFIDENTIAL 5-Year Value Creation Plan Blueprint intact; Enhanced focus on Mobility & Healthcare; To continue operating Logistics To be the leading Motors & Industrial multi-national in Asia Pacific Revenue Cost Monetisation of Organic Business Expand Synergistic M&A enhancement optimisation non core assets expansion Healthcare

Industrial • Expansion into • Adjacent • Leverage on • Operational other businesses (Asset mining recovery excellence geographies management, • Focus on digital • Integrating Gough Rental)

Motors • Expansion of • Assembly for new • Continuous asset dealerships in marques rationalisation key markets • New models • Turnaround of Integrating recent • Used cars under-performing • acquisitions • Aftersales marques

• Mobility initiatives (Omnichannel sales, EV Distributorships, Fleet Management, Used car platform) Logistics • Grow throughput • Continue ops, minimal capex • Build relationship • Fix legacy issues with govt Healthcare • Continuous • Expansion of • Increase total process healthcare with patient days improvement Ramsay

GHO • Continuous portfolio • Strategic transactions rationalisation

• Governance: Compliance, JV management, Safety Key enablers: • People: Talent, Leadership, Succession planning

Revenue enhancement, cost management & business expansion are key drivers 12 STRICTLY PRIVATE & CONFIDENTIAL Executive Leadership Qualified & Experienced Management Team

DATO’ JEFFRI SALIM MUSTAMIR MOHAMAD DATUK THOMAS LEONG ROSELAINI FAIZ DAVIDSON Group Chief Financial Officer Group Chief Strategy Officer Group Chief Human Group Chief Executive Officer Resources Officer

SCOTT W. CAMERON ANDREW BASHAM TIMOTHY LEE CHI TIM PETER HONG Managing Director, Managing Director, Managing Director, Managing Director, Sime Darby Industrial Sime Darby Motors Sime Darby Logistics Sime Darby Healthcare

13 STRICTLY PRIVATE & CONFIDENTIAL

Motors Division

14 STRICTLY PRIVATE & CONFIDENTIAL History & Key Milestones Solid Track Record Across 9 Markets in the Asia Pacific Region

BMW (HK & Macau) New Zealand Malaysia & China Jaguar & Land Rover Acquired the sole importer Acquired 80% of . Appointed distributor & (Malaysia), Ferrari and distributor of BMW cars Continental Car retailer of Porsche in (Brisbane) . 1972 & motorcycles in HK & 1998 Services Ltd i.e. 2010 Malaysia 2014 Obtained sole Macau multi-franchise . Added the Lamborghini distributorship of Jaguar & dealership based marque to its retail Land Rover in Malaysia in Auckland business in China . Added Ferrari to Brisbane, Australia

JV with BMW (Malaysia) Trucks (New Rolls Royce Macau, Ford Appointed Zealand) Porsche Sydney to distribute authorised sole Investment in the . Rolls Royce Macau Fiat & Alfa Romeo (Australia) 1981 Ford vehicles 1987 importer & 2004 truck business in 2012 dealership commenced in Malaysia distributor of New Zealand (Mack, operations Addition of Fiat &

BMW in Malaysia Renault & Hino) . Acquired Porsche 2017 Alfa Romeo Sydney dealerships in Australia

Vietnam, Taiwan, Entered hire & drive Peugeot Malaysia, Australia Malaysia, Australia business Motors Hyundai Malaysia . Acquired official BMW & . Launch of BMW through the Hertz Appointed Mini importer & distributor engine assembly

Acquired Hyundai 2013 1982 franchise for Malaysia 2001 distributor of business and Inokom for Vietnam facility in Kulim and Brunei Peugeot Motors . Appointed sole distributor 2005 assembly facility in . Acquisition of in Australia & Malaysia for Kia in Taiwan Volvo dealership New Zealand . Commenced assembly of in Australia Mazda vehicles in Inokom

for export to Thailand 2018 . Acquired BMW Brisbane, BMW (Singapore) BMW (Singapore) Australia Obtained dealership Won the BMW AG rights of BMW cars & award for achieving

1979 motorcycles in 1997 the highest BMW Singapore sales worldwide

15 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors We represent strong luxury and mass market brands across APAC

Malaysia Singapore Thailand Australia New Zealand Hong Kong Macau ChinaChina Taiwan

Distributor Distributor Dealer Dealer Distributor Distributor Distributor Dealer Distributor & Dealer & Dealer & Dealer & Dealer & Dealer & Dealer

Assembly

Dealer

Dealer

Assembly (Inokom)

Rental Rental Rental

16 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Focused on Expansion in Asia Pacific

HK & Macau Current Presence Distributor & Dealer Countries & Achievements Dealer Assembly Rental . One of the largest BMW dealer globally . One of Top Rolls Royce dealers China Taiwan in Asia Pacific . A leading Distribution group in Malaysia . A leading Commercial Vehicle Distributor in NZ Thailand Malaysia

Key Strategic Partners Singapore

. BMW (44 years) – Seven markets . Ford (37 years) – Singapore, Thailand and Malaysia Australia . Porsche (30 years) – Malaysia, Australia and New Zealand . Hyundai (14 years) – Malaysia

New Zealand

17 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Focus on new model launches, expand assembly, M&A for new territories and marques

V IV Mobility III Strategy Business II Expansion Objectives Expand I Assembly Turnaround Poor Performers Operational Excellence

. Leverage on new . Focused plan to . Assembly for . Explore new . Develop and model launches turnaround existing partners markets (e.g. implement a . Focus on growth underperforming (Hyundai and Indonesia and Digital and efficiency of businesses BMW) for ASEAN Philippines) to transformation Region represent new or strategy across Levers used cars and aftersales to . Introduce new existing marques the operations improve margins marques to . Represent new . Omnichannel assemble for local marques in new sales, EV, Fleet and export or existing Mgmt for ride- markets markets hailing, Used car platform 18 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Key Financial Highlights

Revenue (RM million) PBIT (RM million)

Record sales of the trucking business across all brands in Impacted by GST in Stronger contributions NZ, higher sales volume in China and increased COE quota Malaysia and government from Malaysia and & timely launches of new BMW models in Singapore policy in China China operations

21,606 20,602 20,341 702 711 19,155 18,646 635 17,745 633 633 628 16,597 17,266 543 14,818 503 474 386 10,098 7,926 7,510 164 184

(1) (2) (3) FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Invested Capital(4) (RM million) ROAIC(5) (%) Reduction in working capital - inventories, receivables and cash balances 6,431 21.2% 6,086 6,235 20.2% Increase in working capital 5,896 5,755 5,826 18.3% and acquisition of BMW Brisbane and Vietnam 14.1% 4,033 12.6% 3,738 10.9% 3,226 10.4% 9.3% 2,602 2,720 2,743 8.3% 7.6% 6.6% 6.9%

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 (1) Includes losses on Vietnam operations (RM66m) and gains on property disposals (RM30m) (2) Includes impairments of RM199m relating to Vietnam and gains on property disposal of RM50m (3) Includes tax and duties refund in Vietnam (RM12m) (4) Invested capital is calculated as total assets (excluding tax assets and intercompany balances) less operating liabilities (i.e. all liabilities except borrowings, intercompany balances, leases and tax liabilities (5) ROAIC is calculated as PBIT divided by average invested capital 19 All figures are based on management accounts (unaudited results) STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors New models in premium segment to spur growth despite challenging market environment

9,219 9,093 17,404 20,310 86,906 Units Sold (FY2018: 81,741) Units Sold Units Sold FY2018 FY2019 16,872 35,601 16,611 43,537 37,210 Units Assembled (FY2018: 29,896)

Australia & NZ China,HK,Macau,Taiwan Malaysia Singapore, Thailand & Vietnam

AUSTRALIA, NZ SINGAPORE, THAILAND • Tight financial lending and increasing luxury car • Singapore government’s intensified push for tax public transport and tough personal vehicle stance will affect growth of vehicle sales. • However commercial vehicle sales expected to be boosted by agribusiness, mining and • Low inflation and attractive borrowing costs to infrastructure growth. bolster growth in vehicle sales in Thailand. • Steady market expected in NZ for commercial vehicles with demand from agriculture and CHINA, HK, MACAU, TAIWAN freight transport sector and low domestic interest • Cooling economic growth and trade tensions rate environment. weighing on consumer spending in China. • However, China’s growing middle class and new MALAYSIA models continue to drive growth in the premium segment. • TIV growth expected to be muted due to slowing economy amid trade tensions, added with the • Ongoing protests against extradition bill and high level of indebtedness in the household trade tensions to dampen consumer spending in sector Hong Kong. All figures are based on management accounts (unaudited results) 20 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Units Sold, Revenue & PBIT by Region (1/2)

FY19 Sales Contribution & Reported Revenue & PBIT Marques Units Sold Units Sold (RM miilion)

Malaysia 7.3% 4.7% 2.6% 6.2% 6.1% 6.3% 31,230 333 247 Malaysia, 26,607 204 223 219 18% 87

18,571 17,663 4,562 16,611 16,872 4,323 3,935 3,385 3,571 3,576 Malaysia

(1) 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Units sold: 16,872 Revenue PBIT PBIT Margin

SEA (Excl. M’sia) 1.0% 0.8% 4.3% 1.5% -1.5% 1.1%

20,310 192 18,693 34 28 75 48 17,404 (78) SEA (excl. 16,396 M'sia), 21% 12,623 12,696 5,026 5,196 4,516 4,494 3,334 3,353

SEA (excl. Malaysia) (2) (3) (4) 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019

Units sold: 17,404 Revenue PBIT PBIT Margin

(1) Includes land compensation of RM9m (2) Includes a goodwill impairment of RM19m and provision on inventories of RM18m in Vietnam (3) Includes impairment of distribution rights or RM61m and writedown of inventories amounting RM89m in Vietnam (4) Includes tax and duties refund for Vietnam (RM12m) Source: Audited accounts, Corporate presentation All figures are based on management accounts (unaudited results) 21 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Units Sold, Revenue & PBIT by Region (2/2)

FY19 Sales Contribution Reported Revenue & PBIT Marques Units Sold & Units Sold (RM miilion)

3.5% 1.6% 1.7% 2.7% 3.2% 2.3% China / HK / 43,537 Macau / Taiwan 250 231 277 235 35,601 33,915 34,293 124 134 31,827 China/HK/Macau 31,596 10,398 , 48% 8,550 8,672 7,758 7,984 7,227 EastAsia

(1) 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Units sold: 43,537 Revenue PBIT PBIT Margin

Australia / New 0.7% 3.7% 2.8% 3.0% 4.3% 3.5% Zealand 18,060 16,663 16,266 118 125 90 104 98 Australia/NZ, 13% 13,325 18

9,219 9,093 3,212 3,270 3,454 2,897 2,622 2,779

2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Australia / Zealand New Australia Units sold: 9,093 Revenue PBIT PBIT Margin

(1) Includes land compensation of RM41m Source: Audited accounts, Corporate presentation Source: Audited accounts, Corporate presentation All figures are based on management accounts (unaudited results) 22 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Competition in China affecting margins; Tax-free period spurred Malaysia

China, HK, Macau, Taiwan +6.2% +15.7% • Higher units of BMW and Super Luxury vehicles sold in China, 21,606 20,341 628 however margins for BMW operations were lower due to 543 competitive market. • Lower margins from after-sales operations from BMW and multi-franchise operations in HK • Taiwan recorded LBIT (RM26m) in FY2019 vs (RM29m) in FY2018 - Improved margins and lower marketing expenses

Singapore, Thailand

Revenue PBIT • Lower sales and margins in Singapore due to the competitive Jun-18 Jun-19 market In RM Million FY2018 FY2019 • Lower units of Ford vehicles sold in Thailand China, HK, Macau & Taiwan 8,672 10,398 Singapore & Thailand 5,127 4,493 Malaysia Malaysia 3,576 3,935 • Higher sales volume from BMW and Ford (FY2019: 16,872 Australia & NZ 2,897 2,779 units vs FY2018: 16,611 units) Vietnam 69 1 • Increased contribution from car rental and engine assembly, Total Revenue 20,341 21,606 partly offset by YSD donation of RM10m in FY2019 (FY2018 – RM5m) China, HK, Macau & Taiwan 236 235 Singapore & Thailand 121 36 Australia, NZ Malaysia 210 247 Australia & NZ 125 98 • Aus - Lower sales and margins from BMW Brisbane • NZ – Lower units sold and margins from retail operations Total Core PBIT 692 616 Vietnam (199) 12 Vietnam Property disposal/compensation 50 - Total PBIT 543 628 • Includes tax and duties refund in FY2019 PBIT margin 2.7% 2.9% • Impairment of distribution rights (RM61m) and write-down of inventories (RM89m) in FY2018 Core PBIT margin 3.4% 2.9%

ROIC 9.2% 10.1% All figures are based on management accounts (unaudited results) 23 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Motors Upcoming model launches expected to boost sales in 1QFY2020

BMW Z4 2019 Mini 60 Years Edition July 2019 August 2019

BMW X3M & X4M Porsche 911 Cabriolet September 2019 September 2019 24 STRICTLY PRIVATE & CONFIDENTIAL

Industrial Division

25 STRICTLY PRIVATE & CONFIDENTIAL History & Key Milestones Long-standing Partnership with Caterpillar Since 1929

Sime Darby & Co China Engineers Ltd USD8.8 bn acquisition of (Kumpulan Sime Darby became a subsidiary of the group Bucyrus by Caterpillar. Bhd) established in Hastings Deering became

1910 Malacca, Malaysia 1972 2011 the first Caterpillar dealer in the world to sell, service and support the new range of Caterpillar underground and surface mining Tractors dealerships Hastings Deering equipment extended to Acquired Hastings Deering Gough Group Peninsular Malaysia, Group, Caterpillar dealer in Acquired Gough Group and 1957 Singapore, Brunei and 1992 Australia (Queensland and expanded CAT footprint in Christmas Island Northern Territory), Papua New 2019 NZ Guinea and Solomon Islands

Tractors Singapore was Caltrac Partnership with ENGIE established in Singapore. Hastings Deering acquired Partnership agreement with Caltrac, the Caterpillar ENGIE to (i) develop solar

1964 2000 dealer in New Caledonia 2017 energy, and (ii) integrated facilities management services in Malaysia.

CAT (Malaysia) Tractors Malaysia began its Sime Darby, through Sarawak manufacturing and assembly Trading Company was appointed as operations

1929 a Caterpillar dealer for Sarawak. 1984

26 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Strong brands and comprehensive market reach across APAC

Energy Solutions CAT Dealer Operations Allied Brands Group Group

Malaysia Malaysia, Brunei (via JV with Hong Kong & Kubota Corp & Macau, China Marubeni Corp)

Singapore, Maldives, Christmas Island Asia Pacific region Hong Kong & (JV with Terberg Macau Benschop) Hong Kong, Macau Malaysia, Christmas Island Southeast China (Province of Guangdong, Guangxi, China Mecomb Group: (Indian Ocean), Hainan, Fujian, Hunan, Jiangxi) and Xinjiang Singapore, Malaysia Singapore and Thailand

Australia (Queensland & Northern Territory), PNG & SI Malaysia Australia

New Caledonia

Malaysia, Hong Australia, Engineering & Kong, Macau, China & Technical Services: China, South Malaysia Malaysia Korea

Singapore Vietnam

Christmas Australia, Island (Indian Malaysia & Ocean), Singapore Singapore, Maldives 27 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Regional Presence Across 17 Countries and Territories, Supported by a Network of Branches

. Principal activities Xinjiang – Sale, rental and used equipment of Caterpillar . Hunan South Korea equipment and engine . Jiangxi . Fujian – Sale of parts, service maintenance, equipment CHINA/HK . Guangdong . Guangxi monitoring system and technology equipment's . Hainan . Regional presence: 17 countries & territories(1) Macau/HK . No. of branches: 109(2) . VIETNAM Orderbook: RM2.38 bn (as at 30 June 2019) . Total no. of employees: 8,111 (as at 30 June 2019) MALAYSIA BRUNEI MALDIVES SINGAPORE PAPUA NEW GUINEA Regional No. of Construc Power SOLOMON industry Forestry Mining Quarry CHRISTMAS ISLAND branches(1) -tion Systems ISLANDS presence

Northern Territory NEW CALEDONIA China & Queensland 63 AUSTRALIA HK, Macau    

23 South East (4 depot & 7 Asia CAT rental    stores) LEGEND

China / HK / Macau / South Korea Australasia 23 Malaysia   South East Asia

Australia and Pacific Islands

Note: (1) Regional presence defined as locations in which Sime Darby Industrial has assets or employees; (2) Refers to Caterpillar branches only

28 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Leverage on commodity upswing, digital as key enabler, enhance recurring income profile

IV

III Restructuring of Non-Core Businesses II Organic Objectives Business Expansion I Cost Optimization

Revenue Enhancement

. Enhanced sales from . Operational . Expansion into adjacent . Review of non-core mining recovery and excellence to businesses i.e. MES, brands and business infra spending strengthen resilience in Haynes, Pakka, asset units for potential downcycles via process mgmt. to for counter- restructuring . Digital as an Enabler to standardization, robotic cyclicality and to increase and protect process automation, lean increase recurring market share Levers six sigma, procurement income profile . Growth in aftersales, controls, etc. . Focus on service and parts and services aftersales for recurring income (service contracts, connected assets and predictive analytics 29 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Key Financial Highlights

Revenue (RM million) PBIT (RM million)

14,429 14,113 13,575 1,396 13,041 1,331 12,073 10,962 10,637 1,106 9,946 10,127 1,039 8,645 898 8,210 7,629 793 798 725 612 552

341 253

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 (3) (4) (5)

Invested Capital(1) (RM million) ROAIC(2) (%)

Acquisition of 7,908 7,903 8,089 7,788 7,670 7,828 7,700 7,626 Bucyrus business 25.3% for c.RM1.2bn 24.3% 23.9% 21.4% 20.2%

5,156 16.8% 4,251 13.2% 3,601 3,255 10.4%

7.1% 7.8% 4.3%

-0.1%

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 (3) (4) Note: (1) Invested capital is calculated as total assets (excluding tax assets and intercompany balances) less operating liabilities (i.e. all liabilities except borrowings, intercompany balances, leases and tax liabilities (2) ROAIC is calculated as PBIT divided by invested capital (3) Excludes impairments and provisions of RM257m related to Bucyrus (4) Includes RM178m gain on property disposal (5) Includes RM18m gain on property disposal and Sime Kubota (RM10m) and fair value loss on financial asset (RM47m) All figures are based on management accounts (unaudited results) 30 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Outlook remains positive despite slight reduction in order book

AUSTRALASIA • Growth in mining industry in Asia Pacific region propelling demand for both mining equipment RM2,747m RM2,381m replacement cycles and expansions Order book as at -13% Order book as at • Higher machine utilization levels to spur parts and 30 June 2018 30 June 2019 services sales revenue growth

MALAYSIA • On-going projects such as Pan Borneo Highway supporting the construction sector • Revival of ECRL and continuation of infrastructure 228 projects such as MRT 2 and LRT 3 to boost construction sector 290 271 237 309 • Government continues to focus on affordable housing 301 268 to the low to middle income groups 332 311 408 279 385 CHINA 352 403 342 • Government stimulus through infrastructure spending to stabilize economy growth • Nevertheless, more cautious investment approach due to the ongoing trade tension • Increase trend towards rental and used equipment 1,802 as customers spend lower capital expenditure for 1,604 1,564 1,663 1,492 mining and construction activities owing to capital constraints

SOUTH EAST ASIA • Large pipeline of mega-projects such as Changi Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Airport Terminal 5 and North-South Corridor Expressway to support the construction sector • Product support business have recovered slightly with maintenance works in marine offshore Australasia Malaysia China Southeast Asia • Electric power segment set to be positive as standby generator sets demand increase to support data centers All figures are based on management accounts (unaudited results) 31 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Revenue & PBIT by Region (1/2)

FY19 Sales Contribution & Products / Services Revenue (RM million) PBIT (RM million) YoY Orderbook

FY19 Sales Contribution CAT New Equipment & Engines 10.5% 8.5% 5.2% 5.5% 3.9% 4.6% Malaysia, 8%

1,423 150 1,230 1,184 1,121 Excavators Dozers 1,099 993 104

Forest machine Lift trucks 60 52 46 52

Malaysia Orderbook Rental & Used Equipment 408 342 Parts & Services (1) (2) Allied Solutions 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019

Energy Solutions 30-Jun-18 30-Jun-19 PBIT Margin

FY19 Sales Contribution CAT New Equipment & SEA (excl. M'sia), Engines 20.7% 12.0% 11.2% 2.6% 3.6% 8.3% 5% 1,205 237 1,146 Excavators Wheel loaders 1,020

737 747 723 144 114 Marine engines

Orderbook 60 268 Rental & Used Equipment 228 19 27 Parts & Services SEA (excl. Malaysia) 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019

30-Jun-18 30-Jun-19 PBIT Margin

Note: (1) Includes gain on property disposal of RM9m (2) Includes gain on property disposal of RM18m and gain on disposal on Sime Kubota stake (RM10m) All figures are based on management accounts (unaudited results) 32 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Revenue & PBIT by Region (2/2)

FY19 Sales Contribution & Products / Services Revenue (RM million) Core PBIT (RM million) YoY Orderbook

FY19 Sales Contribution CAT New Equipment & Engines 5.4% 4.7% 3.9% 3.5% 4.1% 4.9% China / HK / Macau, 27% 188 3,944 3,810 161 Excavators Dozers 142 2,610 2,605 2,691 2,401 112 102 93 Wheel loaders Marine engines

EastAsia Orderbook Rental & Used Equipment 309 279 Parts & Services

2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 30-Jun-18 30-Jun-19 PBIT Margin

FY19 Sales Contribution CAT New Equipment & Engines 7.4% 3.1% 1.4% 1.4% 5.3% 5.9%

Australia & 8,459 510 498 New Zealand, 6,894 7,166 60% Large mining Underground 378 trucks mining loaders 6,126 5,328 5,600

192 Orderbook Hydraulic Dozers mining shovels 73 78 1,802 1,492 Rental & Used Equipment

Parts & Services 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017(1) 2018(2) 2019(3) Australia & Islands Australia Pacific 30-Jun-18 30-Jun-19 PBIT Margin Note: (1) Excludes impairments and provisions of RM257m related to Bucyrus (2) Includes gain on property disposal of RM169m (3) Includes Fair Value loss on Financial Asset of RM47m All figures are based on management accounts (unaudited results) 33 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Industrial Increased sales and profits in Australasia

Australasia +8.2% +30.4% 14,113 798 • Higher equipment deliveries to both mining and 13,041 construction sectors 612 • Higher margins from parts and services • Contribution from Hardchrome since Dec 2018 - RM15m • Results partly offset by the weakening of AUD/MYR by 7% from 3.16 to 2.95 and fair value loss on financial assets of RM47 million China Revenue PBIT Jun-18 Jun-19 • Higher margins compensated for the weaker RMB by 3% In RM Million FY2018 FY2019 from 0.626 to 0.605 Australasia 7,166 8,459 • Better margin realization from engines and product support and CAT subsidy claim China 3,944 3,810 Malaysia 1,184 1,121 Malaysia Southeast Asia 747 723 • Lower CAT equipment deliveries to the construction sector Total Revenue 13,041 14,113 • Improved contribution from power systems and services Australasia 209 545 • Includes restructuring cost of RM12m (FY2018 – RM3m) China 161 188 and YSD donation of RM10m (FY2018 – RM5m) Malaysia 37 24 South East Asia Southeast Asia 27 60 • Lower equipment deliveries to the construction sector Total Core PBIT 434 817 compensated by higher product support sales with better Disposal of properties & margins in Singapore 178 28 Sime Kubota • Share of losses from associates of RM1m (FY2018 – FV loss on Financial Asset - (47) RM17m) Total PBIT 612 798 Property Disposals PBIT margin 4.7% 5.7% • RM18m gain on disposal of a property in Malaysia in Core PBIT margin 3.3% 5.8% FY2019 ROIC 7.9% 10.5% • RM169m in Australia and RM9m in Malaysia in FY2018 All figures are based on management accounts (unaudited results) 34 STRICTLY PRIVATE & CONFIDENTIAL Acquisition of Gough Group Rare opportunity to expand CAT franchise into NZ

• Caterpillar distributor in New Provides comprehensive range of CAT Forestry Zealand and products and services Pacific Islands since 1932 Building Construction

CAT • 23 locations and 455 employees across New Zealand General Construction

• Established in Distributes a range of premium brands 1929, provides Construction to the heavy commercial vehicle parts and market equipment Transport solutions • 42 locations and Infrastructure TMH 420 employees across Aus & NZ Material Handling

Revenue (NZ$ m) FY18 revenue by geography 540 Australia, 433 455 12% 240 201 199

299 232 256 New Zealand, 88% FY16 FY17 FY18 35 STRICTLY PRIVATE & CONFIDENTIAL

Logistics Division

36 STRICTLY PRIVATE & CONFIDENTIAL Business Overview Well-connected major multipurpose port in the Yellow Delta River

. Sime Darby Logistics is the primary operator of Weifang Port, of which operations cover dry bulk, break bulk, liquid bulk, general cargo and container handling services. . The Division also operates three river ports located in Jining, Shandong Province. The Jining Ports provide basic port related services such as stevedoring and storage services primarily for coal and coal-related products . In September 2018, successfully disposed of Weifang Water for RM270m, locking in an RM70m profit.

Annual Throughput & Capacity

Capacity Throughput Ports FY 2019 FY 2019 Binzhou m MT m MT Dongying Weifang Ports 48.6 26.4 Yantai Jining Ports 16.4 9.4 Dezhou Weihai Total 65.0 35.8

Jinan 1 Qingdao Liaocheng Zibo Weifang Laiwu

Taian

2 Rizhao Jining

Heze Linyi

Zaozhuang

37 STRICTLY PRIVATE & CONFIDENTIAL Key Financial and Operational Highlights

Revenue (RM million) PBIT (RM million)

341 Lower Jining Port tariffs as a 103 result of intense competition & 294 294 303 - tighter environmental controls 66 283 28 by Jining authority 250 77 44 53 60 19 74 70 - 12 64 2 37 6- 22 28 43 9 (2) 275 264 250 241 243 75 213 64 65 46 44 41

(4) (7) 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 (1)

Ports Water Ports Water Forex

Invested Capital(3) (RM million) ROAIC(4) (%)

2,294 2,334 2,101 5.2% 1,989 4.7% 1,898 4.4% 1,561 3.2% 2.9%

0.1%

2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019

Notes: (1) Excludes gain on disposal of Weifang Water of RM78m and share of loss of WPS of RM119m (2) Recorded only 3 months of contribution (3) Invested capital is calculated as total assets (excluding tax assets and intercompany balances) less operating liabilities (i.e. all liabilities except borrowings, intercompany balances, leases and tax liabilities (4) ROAIC is calculated as PBIT divided by average invested capital All figures are based on management accounts (unaudited results) 38 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Logistics Logistics results weighted down by impairment

-17.0% Ports 341 -97.3% 74 283 • Weaker performance due to lower throughput at ports • Weifang Port Services share of loss of RM119m

Water

2 • Recorded 3 months contribution prior to disposal Revenue PBIT in September 2018. Jun-18 Jun-19 In RM Million FY2018 FY2019 • Gain on disposal of RM 78m. Ports 275 264 Forex Water 66 19 Total Revenue 341 283 • Mainly from translation of RMB loans to HKD given to JVs Ports 44 41 Water 28 9 Forex 2 (7) 30.3 million MT Total Core PBIT 74 43 General cargo throughput Gain on disposal - 78 (FY2018: 32.6 million MT) Share of loss of WPS - (119) Total PBIT 74 2 272,435 TEU Core PBIT margin 21.7% 15.2% Container throughput ROIC 3.2% 0.1% (FY2018: 240,536 TEU)

All figures are based on management accounts (unaudited results) 39 STRICTLY PRIVATE & CONFIDENTIAL

Healthcare Division

40 STRICTLY PRIVATE & CONFIDENTIAL Ramsay Sime Darby Health Care Premium hospitals in Malaysia and Indonesia ranging from primary to quaternary care

Ara Damansara Medical Subang Jaya Medical Centre Park City Medical Centre Joint Venture with Ramsay Centre

. Opening date: 1985 . Opening date: 2012 . Opening date: 2012 50% 50% . Bed capacity: 395 . Bed capacity: 220 . Bed capacity: 300 . Accreditation MSQH, ISO 15189 . Accreditation MSQH . Accreditation MSQH . COEs: Cancer, Blood Diseases . COEs: Brain, Heart and Spine & . COEs: Children, Women and and Digestive & Liver Health Joints Elderly health

. Joint venture with Ramsay Health Care since FY2014 . Asia-focused portfolio . 1,577 capacity beds . 1,249 active beds

RS Premier Jatinegara RS Premier Bintaro RS Premier Surabaya Other Assets

Malaysia . Mediplex Wellness Centre (Subang Jaya) . RSDH College . . . Opening date: 1989 Opening date: 1998 Opening date: 1998 Hong Kong . Bed capacity: 280 . Bed capacity: 205 . Bed capacity: 177 . The Central Surgery (day . Accreditation: JCI . Accreditation: JCI . Accreditation: JCI surgery) . COEs: Cardiac, Digestive . COEs: Orthopaedic (Spine, . COEs: Cardiac, Stroke Unit, Centre, Stroke Unit and Urology Hand, Arthroplasty, Sport Clinic) Brain Tumor Clinic and Centre and Vascular Orthopaedic 41 STRICTLY PRIVATE & CONFIDENTIAL Ramsay Sime Darby Health Care Significant earnings growth since inception of JV; strong growth in Asia expected to continue

RSDH Financials SDB Share of RSDH JV

-14.0%

57

962 49 847 881 800 719 657

Healthcare PBIT FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Jun-18 Jun-19

In RM Million FY2018 FY2019

Healthcare PBIT 57 49

131 120 Healthcare ROIC 7.8% 6.3% 100 82 • Current period includes higher tax expense 64 • Higher revenue from Malaysia and 48 Indonesia operations

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 42 STRICTLY PRIVATE & CONFIDENTIAL

Others

43 STRICTLY PRIVATE & CONFIDENTIAL Malaysia Vision Valley Land ~8,800 acres of land – Option to sell to SD Property

Highlights of MVV Option to sell ~8,800 acres

MVV is a large scale project announced by the Malaysian Prime Minister during his 2016 Budget speech, and is a component of the Government's 11th Malaysia Plan and the National Transformation Plan.

Tenure of development 30-year project

Total development area 379,000 acres

Coverage area Seremban and Port Dickson in Negeri Sembilan . Sime Darby Berhad holds c.8,800 acres of land in MVV area, acquired for RM2.5 bn in FY17 . Signed 29 option agreements with SD The area is intended to focus on 4 key development drivers: Property for the potential sale of 29 parcels . High-technology manufacturing . The options are valid for a 5-year period (plus . Tourism 3 years extension option) . Skill-based education and research . The timing of exercise of the option by Property . Specialised services will be dependent on the MVV development plan MVV development is expected to: which is currently being developed .  Attract investments of RM290bn by 2045 Transfer value will be based on market price at the point of exercise  Create 1.38 million new job opportunities

44 STRICTLY PRIVATE & CONFIDENTIAL

Appendices

45 STRICTLY PRIVATE & CONFIDENTIAL Sime Darby Berhad FY2019 Balance Sheet

As at 30 June Corporate/ Industrial Motors Logistics Healthcare Others Total 2019 Elimination

Segment 10,909 9,691 2,253 784 276 894 24,807 assets Segment (3,283) (3,456) (264) - (361) (14) (7,378) liabilities Segment invested 7,626 6,235 1,989 784 (85) 880 17,429 capital Net tax 264 assets

Borrowings (2,575)

Total 15,118 Equity

All figures are based on management accounts (unaudited results) 46 Thank You

47