Keppel (BN4) Investor presentation summary

Global presence and portfolio strength

• Manages $88 billion in funds across 40+ cities, ranking among the top global infrastructure managers.

• Achieves an average 20% internal rate of return and 2.0x equity multiple since 2002.

Strategic growth and asset management

• Funds under management grew from $37b in 2020 to $88b in 2024, with a 25% CAGR.

• Asset management fees rose from $180m in 2020 to $436m in 2024.

• Targeting $200b FUM by 2030, leveraging organic growth, M&A, and strategic partnerships.

Financial performance and shareholder returns

• FY 2024 net profit reached $1,064m, up 5% year-on-year.

• Recurring income now forms 72% of net profit, up from 21% in FY 2021.

• Cumulative asset monetisation of $7b since Oct 2020, aiming for $10–12b by end-2026.

• Strong dividend track record, with robust total shareholder returns (TSR) of 34.8% over three years.