CWG InternationalCWG International Ltd. Ltd. 2Q 2017 Results Presentation Aug 2017 1 Disclaimer CWG International Ltd. The presentation herein may contain forward looking statements by the management of CWG International Ltd. (“CWG” or the “Group”) that pertain to expectations for financial performance of future periods vs past periods. Such forward looking statements involve certain risks and uncertainties as they relate to future events. Actual results may vary materially from those targeted, expected or projected due to various factors. Such factors are, among others, general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures as well as changes in tax regimes and regulatory developments. Such statements are not and should not be construed as management’s representation on the future performance of CWG. Therefore, the actual performance of CWG may differ significantly from expressions provided herein. The reader is cautioned to not unduly rely on these forward- looking statements. Neither the Group nor its advisers and representatives shall have any liability whatsoever for any loss arising, whether directly or indirectly, from any use or distribution of this presentation or its contents. This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares in CWG. 2 Agenda CWG International Ltd. Contents Page 2Q 2017 Results Highlights 4 Progress Update 8 Business Overview 15 2Q 2017 Financials 21 Appendix 40 3 2Q 2017 Results Highlights Pre-sales CWG International Ltd. Pre-sales Performance as at 1H17 14,000 Pre-sales Amount 12,000 At 2Q17 10,000 8,000 Australia 9% 6,000 RMB RMB million 4,000 Suzhou 43% 2,000 Rest of China - 48% 1Q17 2Q17 3Q17 4Q17 Actual Pre-sales (Cumulative) Pre-sales Target New Launch (GDV) • Pre-sales tracking well at RMB4.71 billion by 1H2017 Pre-sales (mn RMB) • 4 projects launched so far, with another 6 projects (4 in China Pre-sales GFA Suzhou and 2 others) to be launched in 2H2017 At 2Q17 YoY: 144% 2Q2017 Pre-sales • China – RMB2.6 billion • Nanjing Royal Lake Mansion - exceptional performer Suzhou 29% • Rest of China recorded higher pre-sales GFA, 2,967 consistent with strong demands from tier-3 cities Rest of China 71% • Australia – AUD79.0 million 1,217 • 92 units sold in 2Q17 from five projects – Vivir, Illumina, Uptown, Marine’s Hill and Stellar. 2Q16 2Q17 4 2Q 2017 Results Highlights Revenue and Presales CWG International Ltd. RMB Mil 12,000 10,000 2,115 8,000 2,632 1,173 2,006 3,107 6,000 846 1,230 2,170 3,600 291 1,140 1,182 4,000 567 467 5,085 5,489 2,798 4,389 769 4,364 742 3,794 3,613 2,514 4,780 4,381 2,000 1,972 3,567 3,577 2,166 2,214 1,267 1,406 1,335 1,263 1,001 832 818 1,217 0 268 76 317 1Q20142Q20143Q20144Q20141Q20152Q20153Q20154Q20151Q20162Q20163Q20164Q20161Q20172Q2017 Revenue Booked* Pre-sales Received Pre-sales Pending Collection *Revenue Booked is cumulative quarterly. 5 Presales Received and Presales Pending Collection are outstanding as of the end of each quarter. 2Q 2017 Results Highlights Income Statement CWG International Ltd. Revenue Gross Profit • Profit before tax of RMB14.6mn (mn RMB) (mn RMB) • Strong revenue and gross profit, YoY: +137% YoY: +226% improved 137% and 226% respectively • Revenue from delivery of Xuzhou Royal Palace (69% of revenue) 946 131 • Significant improvements in PATMI 399 40 • 420% surge in tax expenses recorded 2Q16 2Q17 2Q16 2Q17 - Highly uncertain timing, and not PBT PATMI correlated to the project delivery in (mn RMB) (mn RMB ) Q2 -8.2 - Consistent with higher pre-sales 14.6 revenue recorded -35.0 -38.2 YoY: +138% YoY: +77% 2Q16 2Q17 2Q16 2Q17 6 2Q 2017 Results Highlights Financial Updates CWG International Ltd. Cash and Cash Equivalents Total Debt (mn RMB) (mn RMB) • Cash and cash equivalents remain healthy at RMB1.67 billion YoY: -26% YoY: +58% • Repayment of RMB1.2bn borrowings in 2Q 2,244 8,326 • Increase in gearing ratio* to 520% 1,670 5,268 due to: • Debt increased due to: 2Q16 2Q17 2Q16 2Q17 • Acquisition of land Total Equity Gearing Ratio (mn RMB) (%) - Suzhou Xinglun YoY: +7% YoY: +106% - Xuancheng Xinkaiyuan • Equity reduced due to: • Dividend payment 1,280 520% • Significant capital reduction of 1,193 253% non-controlling interests *Gearing ratio: (Interest-bearing debt - Cash and cash equivalents )/ Total equity 2Q16 2Q17 2Q16 2Q17 7 CWG International Ltd. Progress Update 1 8 Progress Update Key Growth Strategies (Re-cap) CWG International Ltd. 1 Accelerate International Footprint Scaling up within China Driving Income with 2 Education Assets Expanding FMC beyond China 3 Internationalise Capital Structure 9 Progress Update Completed Projects CWG International Ltd. The Group has successfully completed 31 projects# with a total GFA of 2.87 million sqm in China and Australia over the past nine years. Suzhou Rest of China Australia Xuancheng Chiway Top Suzhou Xuefu Garden Suzhou Hivle Mansion Wuxi Chiway Artdeco Garden Zhangjiagang Royal Palace Suzhou Royal Palace Town Vivir Brisbane Suzhou Industrial Park Royal Wuxi Chiway Center Suzhou Herun Garden Wuxi Chiway Regent Town Suzhou Hemei Garden Mansion Shanghai Royal Palace Suzhou Fortune Plaza Suzhou Landscape Garden Wuxi Jun Mansion Suzhou Hetai Garden Xuzhou Royal Palace - Block C (徐州中锐·星尚城) Top Phase 1: Q2/18 Phase 2: Q2/17 Xuzhou Royal Phase 3: Q4/18 Palace Location Located in the Science and Education Industrial Park, Xincheng District Total Saleable GFA 117,728 % sold 99.2% 徐州中锐 Equity Stake 100% 星尚城 Description Mixed development comprising a upscale residential zone, international school and commercial units 10 Progress Update Land Acquisition 2Q 2017 CWG International Ltd. STEADY and DISCIPLINED strategy in land acquisition • Careful land bidding - Stakes in two land acquisitions (led by Country Garden with 4 other developers at ballot) • Acquisition of company with landholding - Xuancheng Xinkaiyuan Real Estate Development Co., Ltd LAND BIDDING ACQUISITION Date of Land Area Max GFA No. City Type Result Company Xuancheng Xinkaiyuan Real Estate Bidding (sqm) (sqm) Development Co., Ltd 1 Sichuan, Chengdu Apr 2017 Residential 11,110 44,801 Withdrawn Land Linhai Road. Xuancheng Economic Yushan District, 106,444 / 284,304 / Location Development Zone, Anhui Province 2 Apr 2017 Residential Withdrawn Ma’anshan (Two plots) 36,019 90,517 Land Area 61,718 Donghu Gaoxin District, 3 Apr 2017 Residential 17,736 51,919 Withdrawn (sqm) Wuhan Max GFA 92,572 4 Binhu District, Wuxi Apr 2017 Residential 96,815 284,304 Withdrawn (sqm) Xinzhuang, Changshu 55,841 / 111,682 / Date of Jun 2017 5 Apr 2017 Residential Withdrawn (Two plots) 36,771 66,188 Acquisition Guotai Road, 52,600 / 116,000 / Acquired 6 Apr 2017 Residential Zhangjiagang (Two plots) 38,500 85,000 (15%) Equity Stake 70% (as at 2Q17) North Bund Office 7 May 2017 Office 3,458 3,458 Withdrawn Building, Shanghai 68,738 / 111,581 / Jiangyin, Chengdi Acquired 8 Jun 2017 Residential 67,014 / 107,222 / (Three plots) (17.5%) 66,857 106,971 9 Wangting Town, Suzhou Jun 2017 Residential 29,141 58,282 Withdrawn 11 Progress Update Xuancheng Xinkaiyuan CWG International Ltd. • Situated on a prime site at Linhai Road, Xuancheng Economic Development Zone. • 450 metres away to Xuancheng Railway Station and other amenities. • Expected launch in 4Q17 and Site Location completed by 1Q19 Xuancheng • Add to FY2017 project launches Chiway Top Town • Existing Xuancheng project almost all sold-out, except last phase Baocheng Road 12 Progress Update Australia CWG International Ltd. • Marketing the sale of The Peak @ Parramatta • Early delivery of Uptown @ Roseville • Revenue from Australia to be realised from 3Q2017 onwards • Delay launch of Lapointe @ Caddens to 1Q2018. Uptown @ Roseville Lapointe @ Caddens The Peak @ Parramatta 13 Progress Update Summary of 2Q17 Achievements and 2017 Outlook CWG International Ltd. Dividend Paid - 19th May 2017 S$0.01/share 6 Planned Delivery Key Initiatives 10 Project Launches and 1 Potential Sale Target 2 in Suzhou Scaling up in China RMB10 billion Pre-sales • 4Q17 - Suzhou Industrial Park Royal ✓Enlarging landbank Mansion (Phase 2) ✓On track with RMB4.73B Pre-sales • 4Q17 - Suzhou Chiway Prime Palace Expanding FMC beyond China 6 in Suzhou 3 in Rest of China •Seeking acquisition of existing FMC ✓Suzhou Chiway Star Hub ✓1Q17 - Shanghai Royal Palace (Phase 3) ✓Singapore - Circular for FMC ✓Zhangjiagang Chiway Royal finalized with SGX on 21st April Paradise Bay ✓2Q17 - Xuzhou Royal Palace- 2017 for printing and circulation Block C (Phase 2) 4 in Rest of China • 4Q17 - Xuancheng Chiway Top Town Capital Growth (Phase 3, District C) ✓Nanjing Royal Lake Mansion • Equity Placement Xuancheng Chiway Top Town • Convertible bond ✓ 1 in Australia • 3Q17 - Uptown @ Sydney Opportunistic Acquisitions •Education businesses and assets 2 in Australia Potential Sale ✓ Real estate related companies • The Peak @ Parramatta 14 CWG International Ltd. 2 Business Overview Property Development 15 Business Overview Projects Under Development - Australia CWG International Ltd. Estimated Total Saleable Equity % Sold % Sold ASP Launch No. Project Total Costs TOP Date GFA (sqm) Stake (%) (1Q17) (2Q17) (AUD/sqm) Date (AUD’ Mil)1 Australia 1 Uptown @ Roseville 16,249 60 >80 >90 14,500 161.0 Q2/2015 Q3/2017 2 Illumina @ Toowong 16,151 50 >90 >90 8,300 96.0 Q3/2015 Q1/2018 3 Elan @ Epping 6,198 100 >40 >80 12,200 62.0 Q1/2016 Q2/2018 4 Stellar @ Ryde 6,673 60 >10 >40 11,700 60.0 Q4/2016 Q1/2019 Total 45,271 1 Estimated total cost includes only land and construction costs # Changed since 1Q17 Stellar @ Ryde Elan @ Epping Uptown @ Roseville Illumina @ Toowong 16 Business Overview Projects Under Development - Suzhou & Rest of China CWG International Ltd.