Presentation by Property Berhad 3rd JANUARY 2019 Presentation Outline

1 Profile

2 Key Developments

3 Growth Strategies

4 Financial and Operational Highlights

5 Challenges & Market Outlook

6 Appendices

2 1 Sime Darby Property

3 Shareholding Structure RM0.96 Share Price 56.4% Share Price Movement (RM)

1.78

As at 2 Jan’ 2019 1.11 0.96 Foreign

Shareholdings

4-Oct-18

5-Apr-18

8-Feb-18

8-Mar-18

6-Sep-18

9-Aug-18

1-Nov-18

12-Jul-18 26-Jul-18

3-May-18

25-Jan-18 11-Jan-18

18-Oct-18

14-Jun-18 28-Jun-18

19-Apr-18

22-Feb-18

22-Mar-18

14-Dec-17 28-Dec-17 13-Dec-18 27-Dec-18

20-Sep-18

23-Aug-18

30-Nov-17 15-Nov-18 29-Nov-18 31-May-18 14.1% 17-May-18 11.0% RM6.5bn 4.7% Market Capitalisation Other Domestic Shareholdings 13.8% 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 2 Jan 2017 2019 % Chg

Sime Darby Sime Darby Property: 110.0 Property: 20 RM1.20 RM0.96

FBM KLCI: FBM KLCI: 1,717.86 pts 90.0 1,668.11 pts 3

Bursa Prop: Bursa Prop: 1,217.19 pts 862.50 pts 29 70.0

50.0

4 Oct 18Oct4

5 Apr 18 Apr 5

8 Feb 18Feb8

8 Mar Mar 818

6 Sep 18 Sep 6

9 Aug 18Aug 9

1 Nov 18 Nov 1

12 Jul 18 12 Jul 18 26 Jul

3 May 18May3

11 Jan 18 11 Jan 18 25 Jan

18 Oct 18 18 Oct

14 Jun 18 14 Jun 18 28 Jun

19 Apr 18 19 Apr

22 Feb 18 22 Feb

22 Mar 18 22 Mar

28 Dec 17 Dec 28 14 Dec 17 14 Dec 18 13 Dec 18 27 Dec

20 Sep 18 20 Sep

23 Aug 23 18 Aug

30 17 30 Nov 18 15 Nov 18 29 Nov

17 May 18 17 May 18 31 May

FTSE Bursa KLCI Bursa Malaysia Property Index Sime Darby Property

5 Source: Bloomberg as at 2 January 2019 The Largest Property Developer in Malaysia In terms of land bank size RM480.3mn RM39mn RM28.8mn 1,541 1QFP18 Revenue 1QFP18 PBIT 1QFP18 PATAMI Employees

UNITED Property Development KINGDOM Active townships, integrated and THAILAND 23 niche developments KEDAH Acres of remaining developable land bank to be Helensvale, 20,531 developed over 10 -25 years Queensland

GEORGETOWN, PENINSULA PENANG Estimated Remaining Gross AUSTRALIA MALAYSIA RM88.8bn Development Value (GDV) Average trading discount to 49% Realised Net Asset Value (RNAV) Property Investment 3,219 acres Sq. ft. of total Net Lettable Area owned in Malaysia and 2,826 acres 1.3mn NEGERI Singapore SEMBILAN Hospitality & Leisure 1,462 acres Assets across 3 countries

BANDAR UNIVERSITI including 2 golf courses 3,262 acres 5 (36-hole & 18-hole Key Developments respectively) and a North-South Expressway Singapore convention center 6 Note: 1QFP2018 – Quarter ended 30 September 2018 Sustainable Growth with Remaining Developable Period of 10 to 25 years

By Remaining By Remaining Gross Developable Land Development Value (GDV)

1,462 3,373 8.9 19.8 (12%) (28%) (11%) (25%) O 339 N (3%) G O 12,106 RM80.4 28.1 5.2 I 2,826 (23%) (35%) billion (6%) N acres 828 (7%) G 5.7 12.7 (7%) 3,278 (16%) (27%)

0.1 Legend 0.3 2,031 (1%) F (24%) 3,092 (4%) U (37%) T 8,425 RM8.4 U acres billion R E 3,302 (39%) 8.0 (96%) Notes: 1. Township categorisation: • Corridor: (Ongoing) Elmina, , and , (Future) Kota Elmina & • Negeri Sembilan: (Ongoing) Nilai, Bandar Ainsdale, Planters’ Haven & Chemara, (Future) MVV and others • Johor: Bandar Universiti Pagoh and Taman Pasir Putih • Greater Valley & Others: • (Ongoing) , ALYA, , KL East, USJ Heights, , , SJCC and SJ7 7 • (Future) Jalan Acob, Victoria Estate and others 2. Future remaining GDV is preliminary and currently includes Kota Elmina, Lagong and Planters’ Haven West 2 Key Developments

8 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 3,075 2,826 1,462 3,262 Remaining GDV RM18bn RM13bn RM9bn RM6bn Total Residential Units 26,809 21,315 13,234 9,542 Residential Units 2,575 8,061 478 383 Launched Total Industrial 177 710 196 261 Components

Industrial First launch Acreage Sold 152 265 63 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 ~7200 9 to open in 1Q19 students Developments along the Guthrie Corridor Expressway KEY HIGHLIGHTS Lagong 1,552 acres 10,297 acres Total land bank along Guthrie Corridor Expressway 6,465 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 RM28 billion 2,661 acres Estimated remaining GDV Forest Elmina East Reserve 1,089 acres > 40,000 Total residential units with over 28,400 Denai Alam & Bukit remaining units to be launched Subang 1,250 acres DASH RRI Good connectivity:  GCE, DASH, NKVE, LATAR and NSE  Mass Rail Transit-1 (MRT 1) and Bukit Jelutong Keretapi Tanah Melayu Line (KTM) 2,205 acres

10 Elmina East and West - A Wellness Hub

Proposed LRT extension OVERVIEW KEY 3,750 acres HIGHLIGHTS (Remaining: 3,075 acres) Elmina City Centre straddles both sides of the 2,575 GCE from Elmina West to Elmina East, Total residential units forming a prime integrated development hub launched since 2013 (FY2018: 470 units) RM17.7bn • 1,861 units from Elmina Estimated Remaining GDV West of RM587k - RM1,453k (RM340 – RM513 26,809 units psf) • 714 units from Elmina East Total estimated residential units priced between RM600k – RM2,308k (RM307 – RM564 300 acres psf) Elmina Central Park • 1,718 residential units have completed to-date 2,700 acres Tasik Subang Dam Forest Reserve 152 Acres of industrial land sold 42 acres (RM89 – RM127psf) Wellness Cluster 853 90 km Delivery of residential units from Elmina Valley 1,2 and 3 Combined jogging and cycling track in FY2018

An Award-Winning Township • Winner in Best Landscape Architectural Design • Highly Commended in Best Township Development 11 • 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: 2,826 acres) Close proximity to KLIA and Port Klang 6,183 open market residential RM12.7bn units launched since 2011 Estimated Remaining GDV (FY2018: 388 units) • RM119.8k – RM1,280.3k (RM142 – RM459psf) 21,315 units • 2,193 residential units Total estimated residential units have completed to-date 710 acres 266 Industrial components Acres of industrial land sold (RM42 – RM95psf) High Connectivity via major road infrastructure New North Klang Straits Bypass (Shapadu 84 Highway) and upcoming West Coast Delivery of completed Expressway (WCE) detached factories in FY2018

RECENT INDUSTRIAL DEVELOPMENTS 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 global logistics provider products 12 Serenia City - Industrial and High Technology Hub

OVERVIEW KEY HIGHLIGHTS 2,370 acres (Remaining: 1,462 acres) Close proximity to , Putrajaya, and KLIA RM8.9bn 478 Estimated Remaining GDV Total residential 13,234 units launches to date Total estimated residential units • FY2018: 302 DSLH 196 acres units of Serenia Industrial components Amani (RM293- RM404psf) High Connectivity • Oct’ 18: 176 DSLH Accessible via ELITE Highway, Federal Road, units of Adiva ERL & KLIA (RM300-RM367psf) Development Catalysts • Express Rail Link (ERL) 12 minutes to KLIA and 27 minutes to KL 63 Central via the Station acres of industrial • Xiamen University land sold to date First Chinese university branch campus in starting from RM60 Malaysia with a total capacity of 10,000 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 1Q 2019. • Sunsuria City An integrated development by Sunsuria which commenced in November 2015 13 Bandar Universiti Pagoh – A University Town

OVERVIEW KEY HIGHLIGHTS 4,099 acres (Remaining: 3,262 acres) Malaysia’s First Integrated Township with an Education Hub 383 Residential units launched since March 2016 RM5.5bn • Harmoni Vista 1 & 2 (DSLH) Estimated Remaining GDV from RM365,888 – RM502,888 9,542 units (RM270 – RM335psf) Total estimated residential units 261 acres 35 delivery of completed Industrial components commercial units in FY2018 (Sarjana Square) 506 acres Pagoh Education Hub as a key 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 14 From RM365,888 From RM888,888 From RM950,000 Pagoh Education Hub (PEH) A strategic decision to retain this Concession Arrangement 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

• Estimated average RM mil annual revenue of Revenue 125.7 Profit Before Tax 65.9 ~RM30 mil to ~RM50 PATAMI 37.7 mil over the 19 years • Potential to grow the FM business as part of the recurring income 15 strategy 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

16 17

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 17 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 59% Take up rate

18 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) 66% Take-up rate 6 acres Skypark recreational areas 19 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) Group

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). 20 ALYA, Kuala Lumpur – Resort-style Living alongside a Premier Golf Club in the country KEY HIGHLIGHTS Senada An Upmarket Residential Future Development 62 acres (Remaining: 50.5 acres) Project, Adjacent to Mont Ideally located in the pristine Kiara, Damansara Heights & Bangsar landscape of Bukit Kiara • Excludes 279 acres for TPC, KL 4.03 acres Future development Development RM7.2bn RM915 million Estimated remaining GDV GDV Jendela 429 units of serviced 2,465 apartment Estimated residential units Launched in September 2016 May 2021 Target completion date TPC Kuala Lumpur World’s 100 Greatest Golf Floor area Course 2018/2019 710 to 1,872 sqft Price per unit from Future • 36-hole golf course RM978,800 to Development • Host to numerous RM2,958,780 international (average RM1,187 psf) championships - CIMB Take up rate Classic, LPGA, Maybank Tower A: 51% Open Tower B: 25%

21 KL East – A Transit Adjacent Development

TO GOMBAK KEY HIGHLIGHTS QUARZA MIXED (19 min / 15km) DEVELOPMENT 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) RM2.2bn • 6.74 acres development with Estimated remaining GDV GDV of RM744 mil 2,458 units • Target completion: May 2020 • 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 Forest park Transport sqft Terminal (GITT) High Connectivity • Tower A: 254 units launched in May 2016 (54% take-up) • Linked by major highway – • Tower B: 254 units expected MRR2 to launch in March 2019 • 800m from Gombak The Veo Integrated Transportation Galleria, KL East Terminal (LRT Line and RapidKL bus hub) • Lifestyle suburban mall with 380,000 sqft retail space Access to Kolej • Expected to open in 4th Yayasan Saad Quarter 2019 • Top international school with • Anchor tenants: MBO, Jaya expected student capacity of Grocer, Camp 5, Blue Frost 1000 students Ice Rink

TO AMPANG (25 min /17km)

22 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 launched in April 2014 and walk) completed in August 2018 • Damai Service Hospital Melawati Mall • KLCC (15-minutes drive) Floor area 633 to 1,494 sqft Price per unit from RM580,888 to • 50/50 Joint venture between RM1,430,888 Sime Darby Property and CapitaLand Malls (RM800 to RM850 psf) • 180 local and international brands 54% • 8 million shoppers over time Take-up rate Damai Service • 83% occupancy rate Hospital • 635k sqft of net lettable area

Melawati Corporate Centre

23 SJ7 – Strategically located in USJ

KEY HIGHLIGHTS DEVELOPMENT SEGI College STAGE Subang Jaya 34.6 acres Remaining land area September 2019 RM5.3bn Commencement Date Estimated remaining GDV September 2033 1,480 units Target Completion Date Estimated residential units Residential Unit Price Transit Adjacent RM660,426 to Development RM780,269

USJ 7 LRT and • LRT - USJ7 BRT Station station Mixed Development • BRT station Sunway Line – Serviced Apartments, USJ7 station Retail, Office

Easy access to Target Market • Da Men mall, Giant Young working population, Hypermarket, locals / expats SJ 7 (500 m – 5 minutes walking distance) • Segi College Subang Jaya (800 m – 11 minutes walking distance)

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

TOTAL RESIDENTIAL UNITS LAUNCHED 867  Agreement signed on 17 December Take-up: 99% 539 2018 for the Proposed Disposal of Phase 2 255 Take-up: 62% Commercial Assets to PNB-Kwasa Take-up: 92% International Limited for a base purchase price payable of £1.58bil  A JV company of PNB (65%) and EPF Phase 1 Phase 2 Phase 3A (35%)  The staged payments and initial  Successful completion and handover of Phase 1 completion payments are capped to a . FY17: 321 units, FY18: 534 units maximum cost funding commitments of  Total share of profit recognized to date: £1.4bil RM234m  Total ~1 million sqft of Net Lettable Area comprising:  Remaining 5 units of high-end penthouses left • 90 retail units ~305k sqft . 3 units reserved and 2 unsold units • 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 25 And ~40k sq. ft. Key Highlights in FY2018

1 2 3 Sime Darby Property’s Inclusion into FTSE4Good Index and Dow Jones • 39 acres of industrial land across Sustainability Index 10 plots to be jointly developed for built-to-suit industrial facilities via 50:50 JV with Mitsui • 50 acres of industrial land sold to Vinda Group

4 Delivery of completed • Successfully selected as an units in FY2018: 2,305 index constituent for Since the Mall started operations 1. FTSE4Good Bursa in July 2017: Township Units Malaysia Index and Elmina 853 FTSE4Good ASEAN 5 • 180 local and international Taman Melawati & KL East 459 Index (For the period of brands Putra Heights 340 Taman Pasir Putih 292 Jul’18 to Jun’19) • 8 million shoppers over time Nilai 178 Bandar Bukit Raja 84 2. Dow Jones Sustainability • 83% occupancy rate Others 99 Emerging Market Index (Effective Sep’18)

• Highlights Sime Darby Property’s commitment in ensuring only the highest standards in ESG practices 26 3 Growth Strategies

27 Sustainable & Balanced Growth Strategies

No. 1 Property Developer in Malaysia

FIVE KEY STRATEGIC OBJECTIVES

#1 Re-balancing & #2 Launching #3 Enhancing #4 Achieving #5 Elevating expanding new growth overall Cost & Organisational development areas customer Operational Effectiveness portfolio income experience Efficiencies

• Township: Enhance • New Business • Enhance data • Diligent cost • Improve project GDV and review Segment: Industrial driven customer management management strategic masterplan & Logistics insights • Review Leisure governance Development • Roll-out online Management’s • Executive optimal • Integrated: Improve community business model strategic partnership capabilities & • Focus on profitable marketplace and • Shorter end-to-end model income contribution affordable housing

digital innovation development cycle • Strengthen talent & STRATEGIC STRATEGIC

PRIORITIES projects for both township & performance • Review MVV project integrated products management

The Preferred Consistent Sustainable Consistent Employer Shareholders’ PATAMI Sales within Real Return growth Performance

Estate

BY BY 2023 TARGETS

KEY KEY Brand value & People & HR Operating Model & Innovation &

marketing capabilities Business Process technology 28 ENABLERS Property Development: Maintain the leadership position as a reputable township developer in Malaysia

Key Strategic Identified Key Targets Priorities Initiatives

Prioritise on Reducing Strategic execution plan to Completed & reduce inventories with carrying value of RM2.5bn, Launched Ongoing mainly from Alya, Planters’ Inventories Haven, The Glades, KL East & Ara Damansara RM2.2 billion Focus on Launches in Launches below RM800,000 in Unbilled Sales Low to Mid-range segment, including Rumah Segment to Meet Selangorku units in Elmina Demand (below RM300,000)

Establish New 400 acres of industrial land Segment for identified for sale or development with an estimated Industrial & Logistics GDV of ~RM5.1bn to be realised 5% Increase Developments over the next 5 years from FY2018 Customer Satisfaction Index Embark on First Phase Focus on Parcel A measuring of MVV Development 2,838 acres and have constant engagement with State and Federal Government 29 Property Investment and Asset Monetisation: Grow recurring income and maintain a steady portfolio

Key Strategic Identified Key Targets Priorities Initiatives

Embark on Built-to-Suit & Lease model in Bandar Bukit Generate Investment Raja, Elmina and Serenia City, Income from with focus on 39 acres in Bandar Industrial Segment Bukit Raja for 10 industrial plots with target commencement of Achieve 10% construction in early 2019 PBIT contribution by 2023

Target disposal of ~1,700 Monetise Non-Strategic acres of non-strategic land bank Land bank located in Northern Peninsula and East Malaysia Grow a steady

Target completion of investment asset Rationalise Low- divestment of hospitality assets portfolio and yielding, Non-core in Singapore, Australia and unlock value Assets Vietnam from divestment of non-core assets by 2019

30 Concession Arrangement: Focus on growth and expansion of Pagoh Education Hub

Key Strategic Identified Key Targets Priorities Initiatives

Stable and Management of Pagoh Education Hub as a Consistent Pagoh Education source of recurring income via availability charges and facilities Cash Flows for the next Hub management 19 years

Explore Balance surrounding land area of Opportunities for ~400 acres which is earmarked Expansion of Pagoh for future expansion of Catalyst Education Hub education facilities to Property Development Profitability in Bandar Universiti Pagoh

31 Sime Darby Property’s Rigorous Asset Monetisation Journey

2015 2016 2017 2018 Beyond

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

32 Financial and 4 Operational Highlights

33 First Quarter Ended 30 September 2018

R M 4 8 0 . 3 m R M 4 2 . 7 m R M 3 8 . 8 m R M 2 8 . 8 m Revenue Operating Profit Segment Results PATAMI vs RM472.6m 1QFY18 vs RM18.8m 1QFY18 vs RM103.4m 1QFY18 vs RM421.7m 1QFY18 R M 2 , 7 4 5 m 2 7 . 8 % 2 0 . 6 % Total Borrowings Gross D/E Net D/E vs RM2,542m 4QFY18 vs 25.5% 4QFY18 vs 18.0% 4QFY18

1QFP2018 112.7 68% 1QFY2018

329% 36.3 48% 1% 10.4 (4.5) (9.8) (6.6) 1.9 1.9

Property Property Leisure & Concession Development Investment Hospitality Arrangement Higher operational performances Strong operational Higher operating losses Steady contribution from amid the challenging market performance Pagoh Education Hub • Lower occupancy rates • Higher sales and development • Recognition of rental income across all hospitality • Availability charges of activities at Serenia City, Denai on meeting condition units and closure of RM25.5m (RM23.1m in Alam and Cantara Residences precedent for the certain hospitality units 1QFY18) recorded under • Lower contribution from Serenity commencement of lease of (Genting View Resort finance income Cove, Australia: RM4.8m, -31% Wisma Zuellig: RM6.9m and Darby Park Karri YoY from the sale of 11 plots of • Lower share of loss from Valley) residential land (13 plots last year) Melawati Mall: RM1.2m (loss • Darby Park Singapore: • Share of losses from Battersea: of RM5.4m in 1QFY18) Reduction of long-term RM5.7m (vs. profit of RM86.8m in • Occupancy rate: 80% tenants 1QFY18) (60% in Sept’17) • Included a gain on disposal 1QFY18 included: of an investment property in 34 • Seriemas gain on disposal -RM278m UK: RM2.6m Inventories as at 30 September 2018

Launches prior RM6,778.0 1 Jul’18 RM6,713.7 million 3,267 units (73%) million

1,033.9 835.5 Completed: Total: -1% +24% 4,469 units (Jun’18: 4,963) 1,187.7 1,614.3 PDC – Launched: -26% Launches 1 Jul – 30 Sep’18 Completed 267 units Projects (6%) 935 units 2,610.7 (21%) 2,462.4 PDC – Not Yet Launched: Units +6% Taman Melawati (MCC & Serini) 295 Bukit Jelutong 104 Alya KL 104 Planters' Haven 66 Saujana Impian 61 Land Held for PD: Chemara East 53 1,881.4 1,865.8 KL East (The Veo) 45 +1% Elmina West 39 The Glades 34 Others 134 Total 935

30-Sep-18 30-Jun-18  Completed units: 44% QoQ (vs. 648 units) from completion of Rimbun Sanctuary & Completed Inventories PDC – Not Yet Launched Serini  Launches prior to FP2018: 22% QoQ Property development Land Held for Property from higher sales recognised from Ferrea & costs (PDC) - Launched Development Semanea Hills (Denai Alam), Casira 1 & 2, Azira & 35 Athira (BBR) & RSKU (Putra Heights) Steady Sales Performance Supported by Strategic Launches in 1QFP18

Year-on-Year Performance 1QFP18 (Jul’18 – Sep’18)

Net Sales Value Units Sold Value: Units: RM’m Statutory RM310.5 mil 284

Open Market 22% 35% 815 Bandar Bukit Raja (Ayra) 712 (2-storey house) No. of Units : 120 units 667 Value : RM90.2 million 61 281 Launch Date : 28 July 18 526 Take-up : 82% 83 17 Nilai Impian (Anggerik) (2-storey house) 651 No. of Units : 142 units Value : RM76.2 million 509 534 584 Launch Date : 21 Sept 18 Take-up : 44%

Serenia City (C3) (Industrial Lot) 1QFP18 1QFY18 1QFP18 1QFY18 No. of Units : 22 lots Value : RM144.1 million • 45% of sales originated from Bandar Launch Date : 28 Sept 18 Take-up : 32% Bukit Raja township, followed by townships along the Guthrie Corridor (34%) and Greater (19%) • RM160.7m attributed to land sales at 36 Bandar Bukit Raja 1 Resilient Unbilled Sales FP2018 (Jul-Dec’18) Targets: 1QFP2018: RM2,319 million Sales: RM1,000 million 14% QoQ (30 Jun’18: RM2,034 million) 30% YoY (30 Sept’17: RM1,778 million) Unbilled Sales: RM2,200 million

RM’m 641 647 898 103 30

403

261 244 212 196 183 162 172 141 119

56 47 22 34 33 30 4

Denai Elmina Elmina Bukit BBR 2 & BBR 1 Putra Serenia ALYA Ara SJCC KL East Taman Others* Nilai Bdr. Pagoh & Alam & West East Jelutong 3 Heights City D'sara Melawati Ainsdale Taman Subang Putih QoQ %: 46 1 (7) (9) 16 >100 4 15 (3) (24) 12 (38) 12 81 0 (13) (5)

Along Guthrie Corridor Bdr. Bukit Raja Negeri (BBR) Greater Klang Valley Johor Expressway (GCE) Klang Sembilan

* Others: USJ Heights and Saujana Impian

37 Strategic Planning of Launches Upcoming Launches 2QFP18 (Oct’18 – Dec’18) (Jan’19 – Dec’19) Value: Units: Value: Units: RM365 mil 517 RM3.0 – 4.0 bn 4,000 – 4,500

BY TYPE BY LOCATION Serenia City (Adiva) (2-storey house) 3% 15% 23% 21% No. of Units : 176 units GSV : RM105.5 mil 48% 3% Launch Date : 6 October 2018 11% 34% 42% Bdr. Bukit Raja (Ayra 2) (2-storey house) Johor Greater Landed Integrated N.Sembilan Klang Valley No. of Units : 160 units Commercial Industrial Klang GSV : RM122.3 mil Along GCE Launch Date : 3 November 2018 Key Landed Price Range Est GDV Residential No. of units (RM ‘000) (RM mil) Launches Elmina West (EG 1C) Elmina West 974 680 – 800 719.1 (2-storey house) BBR 2 & 3 560 560 – 680 351.1 No. of Units : 181 units GSV : RM137.2 mil Serenia City 628 500 - 560 347.4 Launch Date : 26 October 2018 Bdr. Uni. Pagoh 227 390 - 420 91.9

Strategic re-planning of launches in view of the slowdown in demand:

1. “Wait-and-see” approach, attributable to market uncertainties 2. Uncertainty in National Housing Policy / Budget 2019 3. High inventory level in the high-rise sector 38 Rediscover Our Hidden Gems (Sep – Nov 2018) Strategic campaign to promote new and completed developments Ranging from The Signature Collection, The Features Exclusive and Rediscover Landed Gems

Introducer RM10,000 + rewards of additional 1% up to 1% to 2% rebate

Preview of Preview of Launch of Ayra 22 Anggerik @ 27 Elmina Green C 3 2 @ Bandar Sept Nilai Impian Oct @ Elmina West Nov Bukit Raja 2

Successful preview and soft launches with booking rates averaging above 50%

Launch of Launch of Private launch of 6 Serenia 28 Alcove @ 10 2 & 3 Storey Adiva @ Putra Townhouse @ Oct Serenia City Oct Heights Nov East Residence

Target: To reduce the existing inventory level by 6% to 10% by end of 2018

39 Challenges & 5 Market Outlook

40 Outlook in 2018-2019

Budget 2019 is positive National Housing Policy • Waiver of stamp • Clear scope and duties for residential BUSINESS parameters of properties valued CHALLENGES proposed policy from RM300,001 to • Streamline effort to RM1 million per unit deliver affordable for first-time home houses buyers

Oversupply of high-rise medium range properties Proposed reduction of • Industry is producing overall housing prices faster than the absorption by 10% rate • Developers are expected • High number of unsold Slower economic to review housing prices condominium/apartment growth in Malaysia in view of Sales and units in Selangor priced • Revised 2018 GDP Service Tax (SST) below RM1 million (~8,500 growth forecast of exemption for certain units) and Kuala Lumpur 4.8% from 5.4% construction material (~20,400 units) as at • Continued softness June’18 in the real estate • May affect the sales of sector ongoing / new launches 41 Key Priorities in FY2019

P R O P E R T Y P R O P E R T Y L E I S U R E & DEVELOPMENT INVESTMENT HOSPITALITY  Timely completion of the disposals of low-yielding, non-core assets in Australia,  80% of residential launches  Timely completion of Singapore and focusing on low to mid- the Galleria, KL East Vietnam price range (

42 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.

43 44

THANK YOU

SIME DARBY PROPERTY INVESTOR RELATIONS

Email Address : [email protected] Telephone : +(603) 7849 5000 Website : https://www.simedarbyproperty.com/investor-relations 6 Appendices - General

45 Land Bank Status as at 30 Sept 2018 ~21k acres of remaining developable land bank with a remaining GDV of RM88.8bn Remaining Township/Development Name Total Area (Acres) Developable Area Remaining GDV (RM’bn) (Acres) Niche / Integrated ALYA, Kuala Lumpur 62 50.5 7.2 Chemara Hills, Seremban 44 3.0 0.04 USJ Heights, Subang Jaya 375 11.1 0.2 SJ 7, Subang Jaya 40 34.6 5.3 SJCC, Subang Jaya 30 28.1 3.6 KL East 160 50.8 2.2 Township City of Elmina: Elmina West, 2,661 2,491.6 15.2 City of Elmina: Elmina East, Shah Alam 1,089 583.2 2.5 City of Elmina: Denai Alam & Bukit Subang 1,250 143.9 1.0 Bandar Bukit Raja 2 & 3, Klang 2,820 2,665.0 11.6 Bandar Bukit Raja 1, Klang 1,513 160.6 1.1 Serenia City, , 2,370 1,462.0 8.9 Putra Heights, Subang Jaya 1,796 77.4 3.4 Ara Damansara, Petaling Jaya 693 80.3 6.0 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 0.9 Bandar Ainsdale, Seremban 562 157.7 1.1 Planters' Haven, Nilai 250 83.6 0.1 Bandar Universiti Pagoh, 4,099 3,262.0 5.5 Taman Pasir Putih, 356 16.3 0.2 TOTAL ONGOING DEVELOPMENT 25,664 12,106 80.4 TOTAL FUTURE DEVELOPMENT 8,425 8.41 GRAND TOTAL 20,531 88.8 46 Note: 1. Future remaining GDV is preliminary and currently excludes MVV Future Developments as at 30 Sept 2018

Development Area Total Area (Acres) GDV (RM bn) Kedah 1,639 - Ladang Bukit Selarong 300 - Harvard Suasana Resort 1,268 - Jerai Estate Victoria Estate 71 - Selangor 3,328 8.03 Kota Elmina 1,540 6.86 Lagong 1,552 1.17 Jalan Acob Estate 236 - Negeri Sembilan 3,302 0.31 Chemara West 20 - Planters' Haven West (Amaya) 95 0.31 Ladang Sua Betong 373 - Hamilton (MVV) 934 - Labu (MVV) - New Labu (Main Div) (MVV) 1,880 - New Labu (Kirby) (MVV) - Sabah 144 - Mostyn Estate 144 - Others 12 0.06 Total Future Development 8,425 8.40

47 Land Options Agreements Option to Increase Land Bank Totaling ~20k acres

1. Land Options 2 0 , 6 0 2 2. MVV Options Agreement Agreement with Sime Darby Plantation a c r e s with Sime Darby Berhad 11,806 acres 8,796 acres

Kedah SD Plantation entered into 9 Kumpulan Sime Darby and Sime Darby Property entered call option agreements Bukit Selarong estate: into several call option with SD Property pursuant to 148 acres agreements for lands within which SD Property has options the MVV development to purchase these lands at Penang region future market value Byram estate: 864 acres

Options Validity: Options Validity: 5 5 effective years effective years Nov’2017, extendable by Nov’2017, extendable 3 years by 3 years Selangor Sungai estate: 993 acres West Estate, : 2,000 acres Negeri Labu, New Labu (Kirby), New Sembilan Labu (Main) and Hamilton estates Sepang estate: 2,000 acres Lothian Estate: 485 acres

Ainsdale estate: 268 acres , Johor

Kulai estate - A: 1,862 acres Kulai estate - B: 3,186 acres 48 List of Investment Properties

Owned and managed Occupancy Location NLA (Sqft) Purpose (6 assets) Rate (%)

Wisma Zuellig Section 13, Petaling Jaya 79,589 Tenanted 100

Sime Darby Pavillion Bukit Jelutong, Shah Alam 41,027 Tenanted 100

Jalan Gelenggang, Damansara Wisma Guthrie 61,875 Tenanted 100 Heights

Oasis Square - Block F & G Ara Damansara, Petaling Jaya 341,322 Tenanted 87

2,877 parking Oasis Corporate Park (Carpark) Ara Damansara, Petaling Jaya Public - bays

Under fund management / JV (3 assets) Sime Darby Business Centre (25% via Sime Darby Real Estate Alexandra Road, Singapore 136,374 Tenanted 85 Investment Trust 1) Sime Darby Enterprise Centre (25% via Sime Darby Real Estate Jalan Kilang, Singapore 47,554 Tenanted 73 Investment Trust 1) Melawati Mall (50:50 JV with CapitaLand Taman Melawati, Ampang 613,987 Tenanted 83 Mall Asia)

TOTAL 1,321,728

49 List of Hospitality & Leisure Assets

Net Book Value MALAYSIA Description Land Acres (RM’mil)

Sime Darby Convention Centre, Kuala 5-storey multi purpose convention 4 90.59 Lumpur center

Tournament Players Club (TPC), Kuala Award-winning with 36-hole golf & 279 249.63 Lumpur country club

Impian Golf and Country Club (IGCC), 18-hole golf & country club 149 55.55 Kajang

OVERSEAS

Darby Park Executive Suites, Singapore 75 units of apartments 1 74.70

Rangdong Orange Court, Vung Tau, 69 units of apartments 2 7.36 Vietnam

TOTAL 435 477.83

50 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

Dato' Sri Amrin Tengku Datuk Seri Ahmad Shah Alhaj ibni Almarhum Awaluddin Datuk Tong Poh Keow Sultan Salahuddin Abdul Aziz Shah Alhaj Group Managing Director Executive Director Independent Non-Executive Director (Member of TC) (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)

51 Strong Management Team

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

Dato' Sri Amrin Awaluddin Group Managing Director

Fairuz Radi Dato’ Wan Hashimi Quek Cham Datuk Tong Poh Gerard Yuen Albakri Hong Keow Chief Transformation Yun Wei Officer & Head, Group Chief Operating Officer Chief Operating Chief Financial Chief Marketing Managing Director’s – Township Officer – Officer & Sales Officer Office Development Integrated

Azlina Hamzah Choo Suit Mae Tang Ai Leen Aravindan Chief People Chief Risk and Devapalan Nair Group General Officer Counsel Compliance Chief Corporate Officer Assurance Officer

52 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 Bukit Jelutong • Sime Darby Property Division was established following the historical merger of Kumpulan Sime Darby Bhd, Kumpulan Guthrie Bhd and Golden 2007 Hope Plantations Bhd • 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) City of Elmina • Started the developments of Denai Alam, Bukit Subang and 2013 Elmina East

• Launched Bandar Bukit Raja 2 (~1,400 acres) and Serenia City (2,370 acres) 2016 • Listing of Sime Darby Property on to Bursa Securities Malaysia on 30 November 2017 2017 53 5-Year Financial Highlights Return on Average Profit Before Shareholders’ Net Revenue Interest & Tax Funds (ROASF) Sales Value Units Sold

RM’mn RM’mn Margin % 5-Year RM’mn Units Average ROASF: 12.5%

FY2018 SE FY2018 2,353 683 29% 8.0 RM9.73bn 2,250 3,045

FY2017 2,611 824 32% 10.7 1,917 1,765

FY2016 3,371 36% 1,203 18.2 1,745 1,894

FY2015 3,624 931 26% 16.0 2,134 1,659

FY2014 2,630 419 16% 9.8 2,750 3,049

54 Snapshot of FY2018 Financial Results in the first year as a public listed company

Group

RM’mil Revenue PBIT PATAMI 2018 Major Disposals: 9.9% 17.1% 2.6%  Gain from sale of MLDC: RM40m  Gain from sale of Seriemas: RM278m  Gain on land disposal: RM88m

2017 Major Disposals:  Gains from sale of investment properties: RM265m  Gain on land disposal: RM469m

PBIT - Excluding Gains:  2018: RM277m  2017: RM90m

Segmental Borrowings / Gearing

RM’mil Revenue PBIT Net Assets Short Term 496 (20%)

2,542 Long Term 2,046 (80%)

26% FY17:31% Gross D/E Ratio

18% FY17:14% 55 Net D/E Ratio Economic and Financial Stability Expected to Remain Intact

Gross Domestic Product (GDP) Year-on-Year % • Q3 2018 GDP grew slower by 4.4% year- 7.0 on-year vs. 4.5% and 6.2% in Q2 2018 and Q3 2017 respectively. The contraction in 4.3 - 4.6% 6.0 growth was attributed to commodity-specific 6.2 5.0 5.9 5.8 5.9 shocks. 5.6 5.4 4.0 5.0 4.8 4.7 4.5 4.5 4.1 4.3 4.4 4.3 • Malaysia’s GDP is expected to remain on a 3.0 4.0 steady growth path supported by robust 2.0 private consumption, amid adverse commodity 1.0 supply shocks this year and continued reprioritisation of public sector spending in 0.0 2019. GDP is expected to hover between 4.3 – 4.6% over the next 7 quarters.

Historical Forecasts

Overnight Policy Rate (OPR) % 3.25 – 3.75% 3.50 • The overnight policy rate (OPR) was held at 3.40 3.25% in November 2018 by Bank Negara Malaysia as the economy faces downside risks 3.30 from heightened trade tensions in the 3.20 3.25 immediate term and prolonged weakness in the 3.10 mining and agriculture sectors. 3.00 3.00 2.90 • However, rate hikes of up to 50 basis points 2.80 are expected at the beginning of Q3 2019, in- 2.70 line with forecasted improvements in the economy.

Historical Forecasts

56 Source: Bloomberg and Bank Negara Malaysia Loan Approvals and Housing Prices Continue to Trend Sideways Loans Applied & Loans Approved for Residential Property Purchase RM mil' % 30,000 60 • Loan approval rates in October 2018 stood at 46%, higher than 25,000 46 50 43% a year earlier and the 3-year 20,000 40 average of 42%.

15,000 30 • Loan approval rates are expected 10,000 20 to hover around the current levels in the coming months. 5,000 10

0 0

Jul-15 Jul-16 Jul-17 Jul-18

Jan-15 Jan-16 Jan-17 Jan-18

Mar-15 Mar-16 Mar-17 Mar-18

Sep-15 Sep-16 Sep-17 Sep-18

Nov-15 Nov-16 Nov-17

May-15 May-16 May-17 May-18 Loan Approval Rate (RHS) Loans Approved Loans Applied

The Malaysian House Price Index % Index 250.0 10.0 • The Housing Price index dipped 9.0 marginally in Q3 2018 at 192.5, 190.1 190.5 191.2 193.1 192.1 200.0 183.3 186.3 8.0 growing at a slower year-on-year 174.4 178.5 179.5 167.1 167.8 171.8 160.2 162.8 7.0 pace of 1.1% vs. 6.5% in Q3 150.0 6.0 2017. 5.0 100.0 4.0 • The price index is expected to 3.0 trend sideways without any 50.0 2.0 major fluctuations. 1.0 0.0 0.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018

Index YoY% (RHS) 57 Source: Bloomberg, National Property Information Centre and Bank Negara Malaysia 23% of Total Unsold Units in Malaysia are Overhang Units while 24% are Priced between RM500k & RM1mn

Unsold Units Based on Category Total Units: 14,177 22,087 17,660 17,630 3,265 3,860 17,989 16,846 103,897 126,118

100% 2% 1% 7% 3% 5% 5% 14% 90% 17% • The total unsold units in Malaysia increase

80% 43% approximately 21% year-on-year in Q2 2018, 70% predominantly due to the increase in overhang 65% 59% 72% units in Johor and unsold units not 60% 77% 75% 74% 74% 66% 60% 50% constructed in KL. 40% • Despite the increase in number of overhang units 30% 52% in KL, Selangor and Johor, these states 20% 24% 36% registered lower number of units unsold 27% 10% 21% 19% 21% 21% 20% 23% 11% under construction 0% 5% Q2 17 Q2 18 Q2 17 Q2 18 Q2 17 Q2 18 Q2 17 Q2 18 Q2 17 Q2 18

KL Selangor N. Sembilan Johor Malaysia

Overhang Unsold under construction Unsold not constructed Unsold Units Based on Price Segment • Total unsold units in Malaysia increase across all Total Units: 14,177 22,087 17,660 17,630 3,265 3,860 17,989 16,846 103,897 126,118 price segments, particularly in the RM200k – 100% 500k range (42% YoY increase) except for the 7% 6% 4% 7% 13% 14% 12% 12% 10% 90% 16% units in the >RM1mn segment, which saw a YoY 80% 24% 24% decline in unsold units of 16%. 35% 36% 27% 70% 34% 37% 35% 40% 44% • The increase in total unsold units in the RM200k – 60% 500k range can be attributed to the KL region 50% which saw a 160% YoY increase. 51% 40% 44% 64% 31% 29% 25% 51% 55% 30% 38% 26% • Selangor and Johor showed a decline in total 20% unsold units, which was mainly in the below

22% 23% 22% RM200k price segment. 10% 15% 19% 18% 11% 8% 0% 5% 4% Q2 17 Q2 18 Q2 17 Q2 18 Q2 17 Q2 18 Q2 17 Q2 18 Q2 17 Q2 18

KL Selangor N. Sembilan Johor Malaysia RM1mn 58 Source: National Property Information Centre