Southeast Asia Property Development Overview

Maintain Conservative Balance Sheet Interest Coverage Ratio* 7.56 Net Debt to Equity** 8.00 7.59 100% 7.00 90% 6.06 6.00 80% 40% 40% 44% 45% 46% 46% 5.33 4.61 70% 5.00 4.57 60% 4.00 50% 3.00 40% 2.00 30% 60% 60% 56% 55% 54% 54% 1.00 20% 10% 0.00 2018 2019 2020 2021 2022 9M23 0% 2018 2019 2020 Net Debt 2021 Equity 2022 9M23 *Earnings before interest, income taxes, depreciation and amortization (EBITDA) Interest expense SHI **Total interest-bearing liabilities- cash & cash equivalents Total equity attributable to equity holders of the parent

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