Investor Presentation

Review of Q4 FY2021

Version 1.0

This Investor Presentation should be read in conjunction with the JKH Annual Report 2020/21 to obtain a more comprehensive understanding of the drivers and strategies of our businesses

About JKH

▪ Market cap of USD 0.98 billion

▪ No controlling shareholder - 99% free float

▪ Net Debt : Equity ratio of 20.0%

▪ The Board comprises of two Executive Directors and five Independent

Non-Executive Directors

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*Net Debt excludes the Right-of-Use assets due to the accounting impacts of SLFRS 16 – Leases. The net debt-to-equity ratio including SLFRS 16 - Leases is 30.6%

COVID-19 impact on Sri Lanka and JKH

• The COVID-19 pandemic was relatively contained in Sri Lanka throughout the financial year,resulting in business activity and consumer trends being near normal by the end of the financialyear.

• However, the recent outbreak in late April 2021 has led to a sharp increase in the number ofCOVID-19 cases within the country, prompting island-wide travel restrictions by theGovernment and the closure of the airport .

• While it is premature to ascertain the full impact of this outbreak and the resultant performanceof the Group since the number of daily cases is significantly higher than that of the first andsecond waves, the curtailing of movement is expected to cause a slowdown in business activityin the immediate-term while the pace of recovery will depend on how the situation developsover the next few weeks.

• Although the short-term will continue to pose challenges, a similar recovery to the tractionobserved in the second and fourth quarters of 2020/21 can be expected once the stringentisolation and healthcare measures are eased.

• The Government has committed to scale up the roll out of vaccinations and this shouldpositively impact recovery once a critical mass of the population, particularly in high-risk areas,are covered, as evident in other countries.

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Cumulative EBITDA : for the year ended 31 March 2021

Total EBITDA* 15,609 20,188 (23)

Recurring EBITDA** 15,572 20,069 (22)

Recurring EBITDA excluding Leisure*** 19,160 17,763 8

*EBITDA includes interest income, fair value gains and losses on investment property and share of results of equity accounted investees, but excludes exchange gains or losses on its foreign currency denominated debt and cash.

**Fair value gains and losses on investment property (IP) have been excluded for all businesses, with the exception of Property.

***Leisure is excluded due to the impacts of the COVID-19 pandemic.

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Industry GroupFY2021

(Rs. Million)FY2020

(Rs. Million)YoY Growth

(%)

Transportation 3,610 4,375 (17)

Consumer Foods 3,321 3,408 (3)

Retail 5,523 5,108 8

Leisure (3,572) 2,327 (253)

Property (17) 641 (103)

Financial Services 3,645 2,988 22

Other, incl. IT and Plantation Services 3,100 1,340 131

EBITDA: for the quarter ended 31 March 2021

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Industry GroupQ4 FY2021

(Rs. Million)Q4 FY2020

(Rs. Million)YoY Growth

(%)

Transportation 1,356 925 47

Consumer Foods 1,276 1,110 15

Retail 1,952 1,477 32

Leisure 84 1,913 (96)

Property 10 518 (98)

Financial Services 1,156 833 39

Total EBITDA 7,206 6,971 3

Recurring EBITDA 7,168 6,852 5

Recurring EBITDA excluding Leisure 7,100 4,961 43

Total EBITDA excluding Leisure 7,123 5,057 41

• The Group with the exception of Leisure and Property, witnessed a faster than anticipated recovery momentum, with the performance of the businesses reaching pre COVID-19 levels, on the back of business activity and consumer trends being near normal by the end of the fourth quarter.

• The Property industry group was impacted due to a non-cash adjustment pertaining to an investment property (IP) loss of Rs.291 million, due to the refurbishment of the Crescat mall, as opposed to an IP gain of Rs.455 million recorded in the previous year. Excluding this impact and Leisure, the EBITDA of the Group increased to Rs.7,414 million, which is a growth of 61 per cent.

Portfolio evaluation 2020/21; returns vs. effective capital deployed

Industry group Effective capital employed (%)

Cinnamon Life 34

Leisure 19

Property (Excluding Cinnamon Life) 9

Transportation 6

Financial Services 5

Retail 6

Consumer Foods 2

Plantations 1

Information Technology 1

▪ In addition, the Holding Company accounts for 19 per cent of effective capital employed which consists primarily of cash, short-term investments and deposits with a maturity between 1-3 years.

The Group is now poised to reap the benefits from the 'Cinnamon Life' project from 2021/22 onwards, given the revenue and profit recognition in lieu of the handover of the residential and office units.

Transportation - overview

▪ 42% stake in SAGT

▪ SAGT capacity: ~2 million TEUs

▪ One of the largest cargo and logistics service provider in the country

▪ Leading bunkering services provider

▪ Joint Ventures with Deutsche Post for DHL air express and A P Moller for

Maersk Lanka

▪ GSA for KLM Royal Dutch airlines and Gulf Air

▪ Other operations include warehousing, supply chain management

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KARACHI

GWADARBAHL

MUMBAI

CHENNAI

VISHAKHAPATNAM

KOLKATA

CHITTAGONG

YANGON

MOMBASA

LAMU

DAR-ES-SALAM

CAPE TOWN

PORT LOUIS

ADEN

KOCHI

The strategic location of the Port of Colombo linking key shipping routes

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Capacity enhancements in the Port of Colombo

9

• CICT - Colombo International Container Terminal• ECT - East Container Terminal• SAGT - South Asia Gateway Terminal• JCT - Jaya Container Terminal• WCT – West Container Terminal

Sustained volume growth in the Port of Colombo

10

4.31

4.91 5.19

5.74

6.21

7.05 7.23

6.85

2013 2014 2015 2016 2017 2018 2019 2020*

Mil

lio

n T

EU

s

*The impact from COVID-19 at the POC was more pronounced during the first quarter of 2020/21, when the pandemic escalated in Sri Lanka and the region. However, the rate of recovery in volumes thereafter was encouraging, reaching near pre COVID-19 levels by the end of the year.

PortContainer handling

capacity (TEUs)

Colombo 8 million

Hong Kong 21 million

Singapore 40 million

Shanghai 36 million

Sources: Government websites/ Sri Lanka Ports Authority

Rapid absorption of capacity in the Port of Colombo

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4Q FY21 earnings update: Transportation industry group

• Cost saving initiatives along with an increase in exchange gains recorded on the back of the depreciation of the Rupee, helped improve profitability at SAGT during the quarter.

• Higher market share and fluctuating oil prices during the quarter, helped improve profitability margins at LMS compared to the previous year.

(Rs. mn) Q4 2020/21

Q4 2019/20

EBITDA 1,356 925

300

400

500

600

700

800

Q4 Q1 Q2 Q3 Q4

2019/20 2020/21

Port of Colombo - volumes ('000 TEUs) SAGT

JCT

CICT

Volumes (TEU)

2019/20 2020/21 % YoY ChangeQ4 Q1 Q2 Q3 Q4

SAGT 528,641 376,777 527,456 439,171 466,700 (12)

JCT 548,944 449,313 614,053 484,800 423,501 (23)

CICT 726,303 648,291 769,320 740,970 762,172 5

ECT - - - - 97,143 100

Total 1,803,888 1,474,381 1,910,829 1,664,940 1,749,515 (3)

Volumes (TEU)2019/20 2020/21

Q4 Q1 Q2 Q3 Q4

Domestic: Transshipment volume mix

20:80 10:90 11:89 14:86 16:84

Opportunities for growth in the Bunkering businesses

Bunkering Business (Lanka Marine Services)

Port of Hambantota

▪ LMS was the first to enter into a short-term fuel contract with Sinopec Fuels of Lanka (SFOL) for the saleand purchase of 20,000 MT of cargo imported by SFOL.

▪ Strong opportunities for private bunkering service providers with infrastructure in place for inland storage of petrochemicals and a pipeline to the Port.

▪ The Port will occupy an area of 1,815 hectares and have a capacity to accommodate 33 vessels at a time.

▪ Positioned within 10 nautical miles of the world’s busiest shipping lanes in which 200 to 300 ships sail through on a daily basis.

Logistics Business (John Keells Logistics)

▪ Total warehouse space under management grew to approx. 517,000 sq.ft. in the year 2020/21, at a capacity utilisation of 87 per cent.

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LMS2019/20 2020/21

Q4 Q1 Q2 Q3 Q4

YoY volume growth (%) (8) (30) (28) (18) (21)

Consumer Foods - overview

▪ Market leader in soft drinks, ice creams and processed meats▪ Custodians of the consumer brands “Elephant House”, “Keells - Krest”:

high brand equity

Key performance indicators (%) FY2017 FY2018 FY2019 FY2020 FY2021

Growth of Frozen Confectionery volumes

11 (4) 10 3 (1)

Growth of Beverage volumes (CSD) 10 (16) (25) 7 (14)

Growth of Convenience Foods volumes

(4) 3 7 (0) (6)

EBITDA margin (%) 27 20 18 20 20

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4Q FY21 earnings update: Consumer Foods industry group

• The Consumer Foods businesses demonstrated an encouraging performance, with volumes displaying a faster than expected recovery trend.

• The FC business recorded its highest monthly sales volume in March 2021 in its history of operations.

• Further, the introduction of a few products under its premium range, aided the FC business to record a growth in profitability. Overall EBITDA margin at 24 per cent is at encouraging levels.

• Convenience Foods business recoded a growth in profitability driven by a growth in volumes.

(Rs. mn) Q4 2020/21

Q4 2019/20

EBITDA 1,276 1,110

Key performance indicators (%)FY2020 FY2021

Q4 Q1 Q2 Q3 Q4

Growth of Frozen Confectionery volumes (12) (36) 19 (11) 30

Growth of Beverage volumes (CSD) 1 (44) 1 (13) 1

Growth of Convenience Foods volumes (9) (27) (2) (13) 22

EBITDA (Rs. million) 1,110 487 953 605 1,276

EBITDA margin (%) 26 17 20 17 24

Revenue mix (Bev:FC) 51:49 42:58 42:58 42:58 44:56

• Annual volume growth in the Consumer Foods businesses in FY2021 were impacted as a result of the disruptions to sales due to the COVID-19 pandemic.

Low consumption patterns and penetration reflects potential for sustained growth

▪ The bulk-impulse mix of regional markets ishighly skewed towards the impulse markets,demonstrating the significant growth potentialfor the impulse category.

▪ To leverage on the opportunity available in theimpulse category, CCS invested in a state-of-theart ice cream plant in Seethawaka whichcommenced operations in Q1 FY2018/19.

▪ CCS reformulated its flagship flavours andcurrently, approximately 30 - 45 per cent of theCSD portfolio’s calorific sugar content isreformulated and replaced with Stevia; anatural sweetener with zero calories.

▪ CCS also launched non-CSD products such asplain milk, flavoured milk and water brandedunder Elephant House, and additional flavoursof fruit juice branded under “Fit-O”)

Sri Lanka Thailand Malaysia

70%30%

8%

92%

56%

44%

Bulk vs. Impulse Split - Regional

Impulse Bulk

14

52.0

39.0

31.4

19.0

10.0

Philippines Thailand Singapore Malaysia Sri Lanka

Carbonated Soft Drinks - Per Capita Consumption (Litres)

Sources: Central Bank of Sri Lanka, Nomura Research Institute, Unilever Corp, Web articles

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49 4843 40

16

Singapore Malaysia Hong Kong Taiwan Thailand Sri Lanka

Modern Retail Penetration (%)

Retail - overview

Present share of modern retail No. of outlets

Keells * 123

Cargills 453

Arpico 49

Laugfs 38

SPAR 8

Glomark 10

* As at 31st March 2021

▪ The Retail industry group consists of two business verticals; ▪ Supermarkets▪ Office Automation

▪ “Keells” is a chain of ~10,000 square foot modern grocery retail outlets

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▪ Comparatively higher modern trade density – population per store ratios as against regional peers

▪ High potential for expansion due to lower penetration of modern trade in Sri Lanka

▪ With approximately 200 outlets expected by FY2023/24, 8 new stores were opened during the quarter, increasing the total store footprint to 123 outlets as at 31 March 2021

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2

47

30

21

.0

7.3

4.7

4.5

3.7

3.6

3.4

3.0

2.5 1.9

0.9

Modern trade density – population (’000) per store

Source: Retail and shopper trends in the Asia Pacific, AC Nielsen

Keells current coverage

Rapid expansion to capitalise on low retail penetration levels

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Supermarkets - overview

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Profitability margin (%)

FY2017 FY2018 FY2019 FY2020 FY2021

EBITDA (Rs.milllion) 2,010 1,975 2,465 4,267 4,144

EBITDA margin 6.7 5.3 5.4 7.8 7.6

EBIT margin 5.7 4.0 2.6 4.7 3.8

4Q FY21 earnings update: Retail industry group

• The Supermarket business recorded a recovery in same store sales to positive levels, on the back of improved consumer sentiment. Further, increased contribution from new store sales also aided the business in managing the overall impact on profitability.

• The office automation business recorded a strong performance on the back of a 148% increase in mobile volumes during the quarter.

(Rs. mn) Q4 2020/21

Q4 2019/20

EBITDA 1,952 1,477

Key performance indicators (%)

FY2020 FY2021

Q4 Q1 Q2 Q3 Q4

Same store sales growth

1.7 (33.1) (1.9) (1.0) 1.5

Same store footfall growth

(6.2) (55.3) (17.2) (33.9) (19.1)

Average basket value growth

8.4 49.7 18.5 49.6 25.5

EBITDA (Rs. million)

1,233 309 1,069 1,366 1,400

EBITDA margin 8.8 3.1 7.6 8.7 9.2

Given the change in the shopping patterns of customers where the frequency and purchase patterns have changed due to consolidation of baskets, the statistics on footfall and basket values were distorted during the year under review.

Leisure - overview

▪ Chain of Resort hotels in Sri Lanka

‾ 8 Resort hotels in strategic tourist destinations (1,022 rooms)

‾ 10% of the country’s 4-5 star class tourist accommodation

▪ 2 five-star city hotels in Colombo (847 rooms)

▪ 243 roomed lean luxury hotel managed by Cinnamon; “Cinnamon Red”

▪ 4 Resort properties in the Maldives (454 rooms)

▪ Established hotel brand – “Cinnamon”

▪ Leading inbound tour operator in Sri Lanka

▪ Tour operator partners include global players such as Kuoni, Hotel Plan and Virgin

Holidays

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▪ Greater focus on asset light investment models as a part of the

strategy to enhance the ‘Cinnamon’ footprint in Sri Lanka

▪ Land bank of 125 acres of freehold and 111 acres of leasehold

land in addition to 517 acres of leasehold land in Digana

▪ Of the total freehold land acreage owned, a total of 96 acres

of freehold land are in key tourist hotspots:

▪ Ahungalla (Southern Province) : 10.9 acres

▪ Trincomalee (Eastern Province) : 14.6 acres

▪ Nilaveli (Eastern Province) : 41.7 acres

▪ Wirawila (Southern Province) : 25.2 acres

▪ Nuwaraeliya (Central Province) : 3.4 acres

Round trip offering in key tourist destinations; further potential to expand the ‘Cinnamon’ footprint

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Timeline: COVID-19 impact on Leisure

20

Refer pages 99 and 101 of the JKH Annual Report 2020/21 for the detailed impact of COVID-19 on Group properties in Sri Lanka

*Colombo Hotels occupancy and ARR excludes Cinnamon Red

Occupancies and average room rates

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Sector

FY2021 FY2020

Occupancy (%)

ARR (US $)

Occupancy (%)

ARR (US $)

Colombo Hotels*

3 104 34 100

Sri Lankan Resorts

16 64 61 78

Maldivian Resorts

27 349 56 364

4Q FY21 Earnings update: Leisure industry group

• The Sri Lankan Resorts and Colombo Hotels segments continued to be impacted due to low tourist arrivals, although this was partially offset by the improved Food and Beverage sales and increase in domestic tourism.

• The Maldivian Resort segment recorded an encouraging occupancy of 53 per cent, resulting in a positive EBITDA for the quarter.

• The momentum of forward bookings in the Maldives demonstrated a significant ‘pent up’ demand for leisure travel.

(Rs. mn) Q4 2020/21

Q4 2019/20

EBITDA 84 1,913

Key indicators

Colombo Hotels Sri Lankan Resorts Maldivian Resorts

FY2021 FY2021 FY2021

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Occupancy (%) 0 2 3 6 1 31 8 21 2 7 24 53

ARR(US $) 0 67 65 63 66 58 63 66 160 367 364 343

EBITDA Margin (%) (359) (60) (131) (31) (1,242) (62) (116) (80) (3,035) (245) 7 34

• Given the slowdown in domestic tourism due to the current outbreak of COVID-19 cases, three Sri Lankan hotel properties are being used as intermediate care centres (ICC) for the treatment of asymptomatic patients. This will help mitigate the impact of a drop in domestic tourism.

YearTourist arrivals

(In 000’s)Growth (%)

2010* 654 46

2015 1,798 18

2016 2,051 14

2017 2,116 3

2018 2,334 10

2019 1,913 (18)

2020 508 (74)

• The airports in Sri Lanka were re-opened to tourists on 21 January 2021 under stringent guidelines and safety protocols of the health authorities. However, with the resurgence of the third wave of outbreak in Sri Lanka, the Government has once again imposed stringent health and safety measures to control the transmission of COVID-19, including suspension of all passenger arrivals to Sri Lanka till 31 May 2021.

Source: Sri Lanka Tourism Development Authority

Trend of tourist arrivals to Sri Lanka

22

*2010 included due to being the first full post-war year.

-

500

1,000

1,500

2,000

2,500

19

85

19

90

19

95

20

00

20

05

20

10

20

15

20

20

Annual tourist arrivals to Sri Lanka ('000)

Source: Sri Lanka Tourism Development Authority

Significant growth in Asian arrivals to Sri Lanka

23

*2019 and 2020 arrivals were impacted by Easter Sunday terror attacks and the COVID-19 pandemic respectively

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

20

18

20

19

*

20

20

**

Tourist Arrivals

Source: Governmental tourism websites

Tourist arrivals to Sri Lanka lag well below regional peers

24

0

5

10

15

20

25

30

35

40

45

Malaysia Indonesia Thailand Vietnam Cambodia Sri Lanka

Arr

ival

s in

mil

lio

ns

1990 2019

60,000

31,79030,114

26,113

9,100 7,6005,019

Bangkok Manila Kuala Lampur Jakarta Ho Chi Minh Hanoi Colombo

Room inventory in Colombo lags far behind other popular regional capital cities

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Property - overview

▪ “John Keells Properties”; explore property development opportunities by leveraging on brand equity

▪ Focused strategies for expansion via developer/landowner tie ups

▪ Catering to different target market segments:▪ Luxe Spaces▪ Metropolitan Spaces▪ Suburban Spaces

▪ High-rise apartment complexes completed▪ “7th Sense” on Gregory’s Road▪ OnThree20▪ The Emperor▪ The Monarch

“7th Sense” on Gregory’s Road

OnThree20

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▪ Low levels of urbanisation within Sri Lanka in comparison to regional peers

▪ Annual condominium supply far below regional peers

Sources: KL: CBRE property market outlook 1Q 2018 (forecast for 2018)HCMC: CBRE Vietnam property overview Q1 2017 (forecast for 2018)CMB: Internal Estimates (forecast for 2018)

Industry potential

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53,796

38,000

2,187

KL Ho Chi Minh City Colombo

Annual condominium supply in regional cities

Low penetration of apartment living in Colombo

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Source: Company analysis

10%

95%

80%

60%70%

50% 55%65%

90%

5%

20%

40%30%

50% 45%36%

GreaterColombo

Singapore Thailand(Central

Bangkok)

Thailand(Outskirts)

Malaysia(Central KL)

Malaysia(Greater KL)

India (Chennai) India(Bangalore)

Apartments Landed houses

Prime land bank of over 36 acres in central Colombo

▪ Prime land bank of over 36 acres held in central Colombo

▪ One of the largest privately owned land banks

▪ Includes on-going projects –Cinnamon Life and Tri-Zen

▪ Opportunities for development at land banks held in Crescat City and Cinnamon Lakeside

Vauxhall street land bank

▪ Contiguous 9.38-acre property located in close proximity to the Beira lake waterfront which is earmarked for development of recreational and residential projects by the UDA.

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Cinnamon Lakeside, Colombo

Vauxhall Street

Union Place

Cinnamon Grand, Colombo

Crescat Boulevard

Cinnamon Life

Developable freehold land of approximately 25 acres in close proximity to Colombo city

▪ Greater connectivity and reduction in travel time to Colombo city post construction of the outer circular expressway

▪ Direct connectivity to the Port City Colombo and a multi modal transportation hub to be developed

▪ Opportunity to expand into residential apartment projects in proximity to the Colombo city

Suburban Space development

▪ Master planning is currently underway for the 18-acre land in Thudella

▪ The site will be developed in phases, as a fully integrated community with approximately 2,000 units.

▪ The preliminary approvals for the development are in place, and the design work has been initiated.

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Robust development pipeline; on-going developments

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4Q FY21 earnings update: Property industry group

• The decrease in profitability is mainly attributable to the fair value loss on investment property (IP) during the year under review compared to a fair value gain in the previous year.

• Encouraging sales at ‘Tri-Zen’, which recorded the highest number of units sold in the month of March 2021.

(Rs. mn) Q4 2020/21 Q4 2019/20

EBITDA 10 518

Cumulative sales (units)Number of units sold as at

31 March ‘21

Cinnamon Life:

The Residence at Cinnamon Life 140

Suites at Cinnamon Life 111

Cinnamon Life commercial complex 4

Tri-Zen 342

Development Pipeline:

1. “Tri-Zen”- an 891 apartment residential development in central Colombo.

2. The residential apartments and office towers of ‘Cinnamon Life’ are expected to be handed over , on a staggered basis, from first quarter of 2021/22 onwards, resulting in the commencement of recognition of revenue from the project. Overall project completion is set to first quarter of 2022/23.

3. Master planning has been initiated for the jointly held 9.38-acre property in Vauxhall Street and the 18-acre site in Thudella.

4. Future development of the land bank held at Rajawella Holdings Limited, as discussed in detail overleaf.

• Given the current market landscape, in order to repurpose and reposition the ‘Crescat’ mall in line with market dynamics, the property was closed for refurbishment on 31 December 2020. The revamped property is expected to be re-launched and operational in the second half of CY2021.

Rajawella Holdings Limited (RHL)

▪ Owners of a majority stake in RHL to complement the Group’s leisure and property portfolios

▪ The 500-acre land in Digana includes an 18-hole, Donald Steel designed, Golf Course and developable land extent of approximately 80 acres

▪ Troon International has taken over the management of the course and the refurbishment of the course commenced in February 2018

▪ Expected appreciation of land value with the completion of the central expressway

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Robust development pipeline: Scenic 500-acre land bank with an 18-hole golf course

During the quarter under review, the Group commenced the process of monetising the land bank at RHL with the launch of real estate parcels comprising of town houses and villa developments.

Cinnamon Life Integrated Resort

33

Integrated development in Colombo

34

Integrated development in Colombo

35

36

37

Aerial view of Cinnamon Life under construction

38

Suites at Cinnamon Life

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Offices at Cinnamon Life

Conferencing ; capacity (4,837 pax) in three venues and car park facility (2,450 slots)

800 guest room hotel, including conferencing, banqueting, 7 specialty restaurants and entertainment facilities

Rentable mall and entertainment space of 372,000 Sq. Ft (Gross – 518,000 Sq. Ft)

First residential development of approximately – 358,000 Sq. Ft (231 units).

Second residential development of approximately – 255,000 Sq. Ft (196 units).

A standalone office development -254,000 Sq. Ft rentable area

Development programme

Note: Areas are subject to change based on final drawings

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The growth in Indian MICE travel to complement Cinnamon Life

Source: MasterCard

41

1.51.63

1.78

1.94

2.11

2017 2018 2019 2020 2021

Indian Outbound MICE (Millions)

▪ Union Assurance (JKH Stake : 90%)

▪ Committed to a “digital first” business model with an investment of over Rs. 800Mn to become the largest digital insurer in Sri Lanka

▪ Developing Bancassurance channels - UA entered into exclusive bancassurance partnerships with Nations Trust Bank PLC and Union Bank PLC

Financial Services – Insurance sector overview

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(%)

5464

7180

89

103

2015 2016 2017 2018 2019 2020

Rs.

Bn

Life Insurance Gross Written Premium

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Life Insurance Premium as a percentage

of GDP (%)

Global average – 3.35%

Source: Swiss Re sigma No 4 /2020

*Excludes a one-off surplus of Rs. 3.38 billion arising from the change in policy liability valuation

Financial Services – Insurance sector overview

43

4Q FY21 earnings update: Financial Services industry group

• Improved profitability at NTBdriven by higher gains ontrading FX and fixed incomeportfolio and lower impairmentcharges along with a deferredtax reversal.

• The momentum of theInsurance business continuedduring the quarter, with astrong GWP growth includingnew business premiums.

• JKSB recorded an encouragingperformance on the back of astrong recovery in activity inthe CSE towards the latter partof the year.

(Rs. mn) Q4 2020/21

Q4 2019/20

EBITDA 1,156 833

Key performance indicators CY2015 CY2016 CY2017 CY2018 CY2019 CY2020

Market share (%) 13 13 14 14 13 13

GWP growth (%) 17 19 22 11 4 13

Recurring net profit (Rs.Mn) 1.125 1,313 4,002* 3,243 1,158 921

Surplus from Life Fund (Rs.Mn) 800 1,100 3,642 1,100 1,000 825

Life Fund (Rs.Bn) 26.3 30.3 29.1 30.6 35.5 41.9

Capital Adequacy Ratio (%) N/A 411 352 262 362 341

Keyperformance indicators

Q4 FY2020 (Jan – Mar

2020)

Q1 FY2021 (Apr – Jun

2020)

Q2 FY2021 (Jul – Sep

2020)

Q3 FY2021 (Oct – Dec

2020)

Q4 FY2021 (Jan – Mar

2021)

GWP growth (% YoY)

5 (6) 30 17 28

Net profit(Rs.Mn)

167 170 149 434 233

Net profit growth (% YoY)

(6) 17 (2) (36) 40

▪ Nations Trust Bank (JKH effective economic interest : 32.16%)▪ Focus on SME / retail strategy▪ Franchise for American Express cards

Financial Services – Banking sector overview

44

Key performance indicators CY2015 CY2016 CY2017 CY2018 CY2019 CY2020

Loans and advances growth (%) 22.4 23.7 25.0 19.0 2.0 (7)

Industry (LCB’s) (%) 23.5 17.8 15.8 20.3 5.0 11.9

Return on equity (%) 18.20 17.7 17.4 15.3 12.8 12.1

Industry (LCB’s) (%) 15.7 17.3 17.5 13.7 10.3 11.4

Net Interest Margin (%) 5.5 5.1 4.5 5.0 4.9 4.1

Industry (LCB’s) (%) 3.5 3.5 3.5 3.7 3.6 3.1

NPL ratio (%) 2.8 2.8 2.3 4.6 6.2 7.2

Deposit base (Rs. Bn) 129 152 194 231 227 241

Asset base (Rs. Bn) 176 211 268 325 325 338

Net Profit (Rs. Mn) 2,614 2,869 3,371 3,702 3,454 3,799

Key performance indicators Q4 FY2020 (Jan-Mar 2020)

Q1 FY2021 (Apr-Jun 2020)

Q2 FY2021(Jul-Sep 2020)

Q3 FY2021(Oct-Dec 2020)

Q4 FY2021(Jan-Mar 2021)

Net profit (Rs. Mn) 894 729 1,281 895 1,732

Net profit growth (% YoY) 27 27 20 (20) 94

Gross Loan growth (% YoY) (1) (5) (7) (7) (3)

Net Interest Margin (%) 4.6 4.0 4.3 4.1 3.8

NPL Ratio (%) 6.2 6.6 7.2 7.2 6.2

THANK YOU

This document was produced by John Keells Holdings PLC for information purposes only. The information contained in this document are a review of the financial information pertaining to FY2021 and does not

constitute an issue prospectus or a financial analysis. This Investor Presentation should be read in conjunction with the JKH Annual Report 2020/21 to obtain a more comprehensive understanding of the drivers and

strategies of our businesses.

Whilst John Keells Holdings accepts responsibility for the accuracy of the information contained in this document, it does not assume any responsibility for investment decision made by the prospective investors based

on information contained herein. In making the investment decision, prospective investors must rely on their own examination and assessments of the Company including the risks involved.

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