1H 2026 Half-Year Results Presentation

Welcome to the Jardine-Methasen half-year results presentation. I am Suzanne Chuk, head of Treasury and investor relations. Joining us today are our CEO, Lincoln Pan, and CFO, Graham Baker, who will give an update of our strategic progress and financial performance in the first half of 2026. The presentation deck is now available on the Jardin corporate website. Just a reminder, all numbers are in US dollars unless otherwise stated. We will address questions at the end of the presentation. You may start inputting your questions by scanning the QR code at the bottom of the screen. Thank you. I'll now pass the time to Lincoln. Thank you, Suzanne. And a good morning to everyone from here in Singapore. We've had an exciting first half of 2026, highlighted by our first ever Investor Day, our acquisition of IMED, continued efforts on portfolio simplification, all in the efforts to drive total shareholder returns. At our Investor Day in June, we provided clarity on our strategic and financial objectives

and we set a clear mission, that Jardines will be an outstanding investor and owner, dedicated to building diverse, high-quality scaled businesses in Asia Pacific, offering stable and sustainable top quartile shareholder returns. This has been developed in full partnership with our principal shareholders, the Kestex, and our board of directors. To remind our shareholders in June, we made a number of commitments which we targeted to deliver by 2030. First, delivering at least 9% per annum, 5-year total shareholder return. Second, growing the Jardine-Matheson dividend by at least 5% annually, which were well placed to do at least in 2026, recycling at least $4 billion of capital from the portfolio, excluding additional capital recycling commitments made by Hong Kong Land and Astra, and importantly, building at least $200 million of earnings from new high-quality growth pillars through acquisitions such as IMED. In addition to these commitments, we also announced a new follow-on $500 million share buyback program for Jardini Matheson Holdings.

Now, we are ready delivering against these objectives. Corporate simplification remains a priority. In January, we completed the privatization of Mandarin Oriental, and Jardine Cycle and Carriage has announced simplification actions, specifically the distribution and specie of shares in Toyota Mortal Corporation, together with a special cash dividend for proceeds from our sale of TMC shares. The distribution and specie would enable JCNC to further simplify its portfolio, allowing it to focus on stewardship of Astra and our Vietnam assets. We are focused to further simplify the JCNC portfolio going forward. In the first half, Jardine Matheson and its portfolio companies recycled 1.5 billion in capital and reinvested her May commitments to invest 3.2 billion of capital. Excluding Astra and Hong Kong Land, we recycled just under 500 million in the first half of 2026, representing 12% of our 2030 target of $4 billion. We'll remain active in the

second half to push toward realizing at least 20% of this target in 2026 and are planning ahead for more realizations in 2027. We've made further progress exiting non-control holdings. We've divested the majority of our holdings in vinamilk and reduced our holdings in Toyota and Dongshang. Investors should expect us to continue to divest and and recycle positions in line with our strategic direction, while we will continue to invest via buybacks, bolt-on acquisitions, and new pillars of long-term growth. In May, we announced the acquisition of iMed, and at Investor Day in June, we detailed Jardine Engineering and Infrastructure's ambitious growth agenda. And we have made substantial progress restructuring Jardine Matheson as a lean and focused investment company. Jardine Headcount has been reduced by around 47% since 2024 while building a high-caliber investment and portfolio support team with Irene Liu and Chris Gannis joining the team in the last several months.