Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — CitySpring Infrastructure Trust — Period ended 31 March 2007 Earnings Presentation
18 slides from Keppel Infrastructure Trust's earnings presentation, May 2007
Slide 1: Results Presentation — March 2007
a CITYSPRING Infrastructure Trust Results Presentation — March 2007 Fai Au-Yeung, CEO May 2007
Slide 2: Disclaimer
—_—_—_ _ CITYSPRING Disclaimer This presentation is not and does not constitute or form part of, and is not made in connection with, any offer, invitation or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any units of CitySpring Infrastructure Trust (
Slide 3: Contents
Se ~¢ ITYSPRI NG Contents BE pightights oe Corporate Structure Investment Mandate BS initia Investments Ls | IPO Summary Be unit Price Performance Since Listing FE Financial Results for the Period ended 31 March 2007 4 Distribution Guidance BEB acquisition Pipeline EEN summary Private and Confidenti
Slide 4: Highlights
—————_ ~ CITYSPRING Highlights Infrastructure Trust = Revenue of S$34.3 million for the period 12 February 2007 to 31 March 2007, higher than projection of $$33.9 million = City Gas and SingSpring performing ahead of expectations at the time of IPO = Cash earnings per Unit stronger than projected =
Slide 5: Corporate Structure
————_ Ete Corporate Structure Temasek Trustee-Manager Business of Business of ---- Contract and Documentation City Gas SingSpring —— Ownership First infrastructure business trust in Singapore Private and Confidential prey t
Slide 6: Investment Mandate
—_————_ “CITYSPRING Infrastructure Trust Investment Mandate > ¢ Primary geographic focus: e Long-term, regular and predictable cash : flows ° Asia » Middle East ¢ Yield accretive investments » Australia & New Zealand * Long-term capital growth ¢ Regulated / long-term contracts or ¢ Sector focus: een
Slide 7: Initial Investments: City Gas Business Overview
———__ CITY SPRING Initial Investments City Gas Business Overview Gas Market Overview Gas Network Coverage Senoko Sale of Natural Gas PowerGas ~ Production Transmission of Town / Distribution Gas of Town Gas From LEGEND Sumatra === Natural Gas Pipeline (GSPL) === Town Gas Medium Pressure Pipeline ==
Slide 8: Initial Investments: SingSpring Business Overview
—————————_ CITYSPRING a Infrastructure Trust In itial Investments SingSpring Business Overview Singapore’s Water Policy — Seawater Desalination Process “Four Taps Approach” { 4. Local Catchment | Water J 2. Imported Johor Water pra - 4 Intake of SingSpring | Desalination y . Seawater Plant == 3. Loc
Slide 9: IPO Summary
—_—_——_ CITYSPRING IPO Summary * CitySpring Infrastructure Trust (“CitySpring”) * Temasek Holdings (Private) Limited (“Temasek”) ¢ Mainboard of the SGX-ST ° 450 million * $$0.89 ° $$1.37 Date of Listing ° 12th February 2007, Monday * 6.75% based on issue price (2) Indicative annualised dividend yiel
Slide 10: Unit Price Performance Since Listing
—_ ~“CITYSPRING Unit Price Performance Since Listing Infrastructure Trust 1.60 + 140 - (tj =;ion ee oe Closing Unit Price (S$) T 11-Feb-07 19-Feb-O7 27-Feb-O7 77-Mar-07 15-Mar-07 23-Mar-07 31-M T T ar-O7 8-Apr-O7_ 16-Apr-07 24-Apr-07 2-May-07 10-May-07 Note (1) Unit price closed at S$1.37 as of 11 M
Slide 11: Financial Results for the Period Ended March 2007: Income Statement
rae Financial Kesults for the Period is Lt Le Ended 31 March 2007 Income Statement Period Ending Period Ending 31 March 2007 +34 March 2007 Actuals Projection s$'000 s$'000 Revenue 34,317 33,943 Other income 135,074 5,104 Hote 1 Total expenses (36,931) (40,683) Profit/(loss) before management fee an
Slide 12: Financial Results for the Period Ended March 2007: Cash Flow
—————_ -CITYSPRING Infrastructure Trust Financial Results for the Period Ended 31 March 2007 Period Ending Note:- 31 March 2007 Actuals (1) Includes excess of fair S$'000 Cash flows from operating activities Net profit (52,334) Non-cash adjustments (3,143) Hote 1 Operating cash flaw before working c
Slide 13: Financial Results: Balance Sheet as at 31 March 2007
—_ Financial Kesults for the Period e e CITYSPRING Ended 31 March 2007 Balance Sheet As at 31 March 2007 S$'000 ASSETS Cash and cash equivalent 5? 683 Trade and other receivables 30,592 Inventories 12,960 Derivative financial instruments 14,900 Finance lease (current) 6,441 Intangibles 419,337 Prope
Slide 14: Financial Results: Subsidiaries' Results
aes. T Financial Kesults for the Period Eta he Ended 31 March 2007 Subsidiaries’ Results Period Ending Period Ending 31 March 2007 31 March 2007 Increase/ Actuals Projection (Decrease) $$'000 $$'000 Revenue 30,961 30,242 2 Other Income 564 183 208 Total Expenses 29,411 30,524 (4) Profit Before Tax 2
Slide 15: Distribution Guidance
a ‘CITYSPRING Distribution Guidance Infrastructure Trust Projection Period * IPO Prospectus projection 0.78¢ @) per Unit 2007 () * Distribution confirmed at 0.78¢ per Unit for March 2007 * Distribution to be paid on 15 June 2007 Projection Period * IPO Prospectus projection 6¢ per Unit 2008 @) * Dis
Slide 16: Acquisition Pipeline
————————__ “CITYSPRING Acquisition Pipeline Infrastructure Trust Acquisition Criteria * Yield accretive investments ¢ Long-term, regular and predictable cash flows * Exercise control / significant influence Deal Pipeline e Asia, Middle East and Australia * Range of asset classes: power generation, t
Slide 17: Acquisition Pipeline: Opportunities Reviewed by Sector
es -CITYSPRING Acquisition Pipeline / Infrastructure Trust Opportunities Reviewed by Sector 3% 10% —_ 21% > oo:, 31% 10% 58% wa 29% China / Hong Kong = Southeast Asia = Utilities (Power) = Utilities (Water) a Ports = Australia = Other parts of the world = Toll Roads / Tunnel = Logistics (Others) Cit
Slide 18: Summary
———— ‘CITYSPRING Summary Infrastructure Trust = Highly successful IPO that was very well received by both institutional and retail investors = City Gas and SingSpring performing ahead of expectations at the time of IPO = Distribution guidance for 2008 reaffirmed =" Strong pipeline of future acquisit
CitySpring Infrastructure Trust — Period ended 31 March 2007 Earnings Presentation on 6ix