WCT Holdings Berhad INVESTOR BRIEFING – 3rd Quarter 2020 Updated: 25/11/2020 Strictly Private & Confidential Financial Highlights Strictly Private & Confidential Segmental Results Q3 2020 (3 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue from external customers 296.6 86.1 40.7 423.4 Profit from operations 36.9 14.6 20.1 71.6 Share of results of associates 3.1 Share of results in joint ventures 0.5 (2.4) (7.3) (9.2) Finance costs (29.1) Taxation (11.8) Profit after taxation 24.6 Holders of Perpetual Sukuk (24.3) Non-controlling interest 1.6 Net profit 1.9 E&C – Engineering & Construction Division PD – Property Development Division PI&M – Property Investment & Management Division Strictly Private & Confidential Page 2 Segmental Results YTD 2020 (9 months) E&C PD PI&M Consolidated RM’mil RM’mil RM’mil RM’mil Revenue from external customers 803.8 229.6 128.1 1,161.5 Profit from operations 40.8 64.1 61.4 166.3 Share of results of associates 9.0 Share of results in joint ventures 0.9 (7.1) (6.7) (12.9) Finance costs (92.7) Taxation (22.7) Profit after taxation 47.0 Holders of Perpetual Sukuk (42.5) Non-controlling interest 4.7 Net profit 9.2 E&C – Engineering & Construction Division PD – Property Development Division PI&M – Property Investment & Management Division Strictly Private & Confidential Page 3 Debt to Equity (DE) Ratio As at As at 30 Sep 2020 31 Dec 2019 RM’mil RM’mil Total bank borrowing 2.8 3.1 Cash & bank balances & FD (0.6) (0.6) Net borrowings 2.2 2.4 Shareholders equity (including Perpetual 3.9 3.7 Sukuk & NCI) Gross DE Ratio 0.72 0.83 Net DE Ratio 0.57 0.66 Strictly Private & Confidential Page 4 Engineering & Construction Strictly Private & Confidential Outstanding Order Book as at 30 September 2020 Expected Outstanding Completion* RM’mil TRX, Kuala Lumpur (infra & roadway works) 2020 55 Pan Borneo Highway (66km highway from Sungai Arip Bridge to Bintulu Airport Junction) 2022 554 West Coast Expressway (Shah Alam Expressway Interchange to NKVE/FHR2 Interchange) 2022 119 Elevated Highway (Sprint Highway/Jalan Maarof to Jalan Semantan) 2021 135 MRT2 V204 & S204 2022 197 (viaduct guideway, stations, associated works - Bandar M’sia South to Kg. Muhibbah) LRT3 GS03 & GS02 2022 587 (guideway, stations, park & ride, ancillary buildings & other associated work) Jetty extention of Sapangar Bay Oil Terminal 2022 92 Total – Local Civil & Infrastructure 1,739 (34%) Pavilion Damansara Heights - Phase 1 (Superstructure) 2022 1,509 Pavilion Damansara Heights - Phase 2 (Superstructure) 2023 1,200 Retail Mall, TRX – TP02 (Superstructure and façade and blockworks) 2022 269 Retail Mall, PNB 118 (51% share) 2022 306 Others 2020 71 Total – Local Buildings 3,355 (65%) Lusail Project, Qatar 2021 47 (1%) Total External Projects 5,141 (100%) Total Internal Projects - (0%) Grand Total 5,141 (100%) * Subject to change. Strictly Private & Confidential Page 6 List of Tenders Submitted/Pending Submission (as at 6 November 2020) RM’ mil Local - Civil & Infrastructure > 6,000 Local – Building Works > 4,000 Total > 10,000 Strictly Private & Confidential Page 7 Property Development Strictly Private & Confidential Property Development - Snapshot Q1 : RM74 mil* Q2 : RM70 mil 2020 Revenue Q3 : RM86 mil Total : RM230 mil Q1 : RM13 mil* 2020 Profit Before Tax Q2 : RM15 mil Q3 : RM4 mil Total : RM32 mil Q1 : RM123 mil Q2 : RM26 mil 2020 Property Sales Q3 : RM93 mil (8 Nov 2020) Q4 : RM37 mil (as at 8 Nov 2020) Pending SPA : RM147 mil (as at 8 Nov 2020) Total Unbilled Sales Q3 : RM94 mil (30 Sept 2020) RM108 mil (as at 8 Nov 2020) Unsold Completed Inventories (8 Nov 2020) RM796 mil (as at 8 Nov 2020) * Q1 : Including land sale with revenue of RM25 million and profit before taxation of RM22 million. Strictly Private & Confidential Page 9 Property Development – 2020 Sales & Take-up Performance SALES TAKE-UP + 147 mil 500 mil CMCO (14 Oct – 6 Dec) 430 mil + 99 mil 400 mil RMCO (10 Jun – 13 Oct) 300 mil 283 mil 278 mil 242 mil 200 mil 184 mil 168 mil 149 mil 123 mil 100 mil MCO (18 Mar – 3 May) CMCO (4 May – 9 Jun) 0 mil 1Q20 2Q20 3Q20 8-Nov-20 Strictly Private & Confidential Page 10 Property Development – Y-O-Y Quarterly Sales Performance 2019 2020 400 mil 322 mil 300 mil 242 mil 200 mil 56%+ 149 mil 155 mil 123 mil 100 mil + 161% MCO + 780% (18 Mar – 3 May) 57 mil 14 mil CMCO RMCO CMCO (4 May – 9 Jun) (10 Jun – 13 Oct) (14 Oct – 6 Dec) 0 mil Q1 Q2 Q3 Q4 CUMULATIVE 3Q20 : + 56% (RM 87mil) by corresponding quarter (3Q19), despite pandemic impact since 18 Mar 20 Strictly Private & Confidential Page 11 Property Development – Clearing of Completed Inventories 1,000 mil + RM100mil (90 units) unsold Waltz (completed end 2Q20) 800 mil 845 mil 820 mil 796 mil 767 mil 752 mil 696 mil 600 mil 400 mil 200 mil 0 mil 3Q19 4Q19 1Q20 2Q20 8 3Q20Nov 20 Completed Inventories (excl. Waltz) reduced by 15% until to date Strictly Private & Confidential Page 12 Completed Inventories (as at 08 November 2020) TYPE LOCATION BAL UNIT(S) BAL NDV (RM’ mil) 1 Semi-Ds & Bungalows Klang 9 17 2 Offices Klang 19 52 3 Affordable Apartments (RSKu) Klang 54 12 4 Service Apartments Klang 40 30 5 Service Apartments Shah Alam 129 83 6 Service Apartments Kelana Jaya 262 302 7 Condominiums OUG 90 100 8 Service Apartments Medini 251 200 TOTAL = 854 796 Strictly Private & Confidential Page 13 Sales Strategies 1. Amplify Online Marketing & Virtual Expo to improve leads a) Digital marketing (Facebook, Youtube, website, property platforms, online advertisements) b) Asia Virtual Property Expo (AVPE by Property Guru) 2. Launching of WCT Virtual Sales Gallery a) Interactive online sales experience with guided tour and 360 Virtual Show Units 3. Enhancing Contactless Sales Procedures & SPA Signing a) Live chat guidance throughout sales bookings, payment & subsequent execution of SPA 4. Attractive sales incentives a) Participate in HOC 2020/2021 (Stamp Duty exemption for MOT < RM 1mil & LA < RM 2.5mil) b) Easy entry package 5. Explore potential collaboration with Investment Groups 6. Campaigns & Schemes for the reduction of properties’ (completed) holding costs a) Test-Stay, Rent to Own, Sales with Tenancy Novation etc. Strictly Private & Confidential Page 14 On-going Property Projects Aronia Apartment, Bandar Parklands, Klang Description 320 units of Rumah SelangorKu (RSKu) Apartment Estimated GDV RM80 million Launch Date June 2019 Current Sales Take-up 43% Exp. Completion June 2021 Paradigm Residence, Johor Bahru Description 263 units of Service Apartment Estimated GDV RM184 million Launch Date September 2019 Current Sales Take-up 70% Exp. Completion June 2022 Strictly Private & Confidential Page 15 Future Property Projects Maple Residences, W City OUG @ KL Description 940 units of Condominium Estimated GDV RM940 million Launch Date 1 Nov 2020 (Tower A, 303 units) 2Q2021 (Tower B, 295 units) GDV = RM 11bil Total Resi Units = 12,500 Esti. Population = 46,000 Dev Period = 10 – 15 yrs Strictly Private & Confidential Page 16 Future Property Projects Hilltop 2, Mont Kiara, Kuala Lumpur Description 341 units of Condominium Estimated GDV RM660 million Launch Date 3Q2021 W City JGCC @ JB Description 971 units of Service Apartment Estimated GDV RM510 million Launch Date 4Q2021 (Tower A, 482 units) Strictly Private & Confidential Page 17 Future Property Projects Adenia Apartment, Bandar Parklands, Klang Description 181 units of Apartment Estimated GDV RM 68 million Launch Date 3Q2021 Strictly Private & Confidential Page 18 Land Bank (future development and for sale as at 08 November 2020) LOCATION DEVELOPMENT TYPE LAND AREA (ac.) 1 W City OUG @ KL Mixed 63 2 W City JGCC @ JB Mixed 10 3 Mont Kiara, KL Residential 3 4 Bukit Tinggi 1,2 & 3, Klang Mixed 103 5 Medini Iskandar, Johor Mixed 39 6 Sungai Buaya, Selangor Integrated Township 602 7 Inanam, Kota Kinabalu Residential 22 TOTAL = 842 Strictly Private & Confidential Page 19 Property Investment & Management Strictly Private & Confidential Retail Malls Bandar Bukit Tinggi, Paradigm Mall, Petaling Jaya gateway@klia2, Sepang Paradigm Mall, Johor Bahru Subang Skypark Klang Occupancy rate 100% 96% 91% 95% 92% Opening Year 2007 2012 2014 2017 Acquired Apr18 WCT Ownership 100.0% 70.0% 70.0% 100.0% 60.0% Retail Lettable 1,000,950 sq ft 670,000 sq ft 382,000 sq ft 1,287,000 sq ft 85,000 sq ft Area GLA No. of Car Parks 3,305 3,218 5,690 3,384 553 Selected Tenants Strictly Private & Confidential Page 21 Retail Malls WCT Vouchers Bonanza Sales 2020 WCT Malls are offering great value to all of you with our Vouchers Bonanza Sales*! 20% Off with minimum purchase of RM200 WCT Buddy e-voucher at participating malls including Paradigm Mall PJ, Paradigm Mall JB, gateway@klia2 & Subang Skypark, happy shopping! This bonanza sales only until 31 Dec 2020 and voucher validity period is 3 months upon confirmation or payment. For WCT buddy sign up process, please click: https://wctmyproxy.memgate.com/Signup Click here to check out the participating outlet(s): http://paradigmmall.com.my/loyalty.aspx *Voucher shown is for illustration purpose only, actual voucher may vary. *Subject to availability on a first come, first served basis, while stocks last. Strictly Private & Confidential Page 22 Retail Malls Come and support food ordering from WCT e-shop now and don’t miss out the promo code of RM5 OFF when you place order at participating outlets, Paradigm Mall Petaling Jaya! How to make purchases via WCT e-shop? Step 1: Browse the page - Shoppers can visit and browse through www.wct-eshop.com.my and select either the home delivery or self- pickup.