Investor Presentaiton

Business Updates - Distribution & Network Operational Cash Flows (OCF) ($m) (9)% 19.7 18.0 City Gas 2% 46.0 47.0 || 2H 2019 2H 2020 FY 2019 Ixom 81% FY2020 89.0 City Gas • • . • Customer base grew 0.8% YoY to 866,000 as at end-Dec 2020 FY 2020 recorded slightly lower gas demand compared to FY 2019, due mainly to lower consumption from Commercial & Industrial (C&I) customers as a result of the circuit breaker and various ongoing government control measures to manage the pandemic, and offset slightly by higher consumption from residential customers With Singapore entering phase 2 of reopening in June 2020, demand from C&I customers has increased steadily in 2H 2020, and is expected to continue growing into 2021 OCF was lower YoY in 2H 2020 as a result of a timing difference inherent in the fuel price pass through gas tariff mechanism. City Gas has no exposure to fuel price risk over time Ixom Strong performance in 2H 2020 due to higher demand for cleaning and hygiene products, higher production from the dairy segment, higher trading volume for the mining sector and increased demand for construction-related chemicals; as well as lower capital expenditure in 4Q 2020 Optimised portfolio with planned divestment of non-core businesses in Latin America and North Asia Remain focused on growth initiatives, harnessing know-how in water treatment solutions, manufactured chemicals, supply chain management, as well as leveraging deep local market knowledge to gain market share and provide best-in-class service to customers Basslink² Achieved 99.2% availability and the Commercial Risk Sharing Mechanism was neutral for FY 2020 Post-arbitration, Basslink is in discussions with its advisors to understand the implication of the awards and concurrently undertaking certain mitigating actions in accordance with good electricity industry practice 33.2 49% 49.5 49.31 ☐ | 2H 2019 2H 2020 FY 2019 FY 2020 1. Acquisition of Ixom was completed on 19 February 2019 2. KIT is not dependent on Basslink's cash flows for distributions In discussions with financiers to pursue refinancing in 1H 2021 KIT KEPPEL TRUST INFRASTRUCTURE 12

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