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23 May 07

Introduction to Singapore Press Holdings

Introduction to Singapore Press Holdings

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Frequently Asked Questions

Reference slide no.

1. Why is SPH dominant in the Singapore media industry? 3 – 4

2. Newspaper circulation is falling globally. What is SPH doing about declining circulation?

5

3. Is SPH’s newspaper business affected by digital and other media?

6 – 7

4. What is the impact of government policy measures on the newspaper business?

8

5. What are the growth areas of the Group? Will SPH expand overseas?

9 – 19

6. What is the Group’s property strategy? 20 – 22

7. What are the objectives and returns of the Treasury and Investment business?

23 – 24

8. What is SPH’s operating margin and is it sustainable? 25

9. What is SPH’s dividend policy? 26

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A Leading Media Organisation

Media

Dominant Newspaper publisher in Singapore

Leading digital news content provider in Singapore

Top Magazine publisher in Singapore & Malaysia

Digital Classified

Singapore’s leading

e-marketplaces for cars and property

Property

-SPH REIT

-The Seletar Mall

Others

-Media Fund

- E-Commerce

-Education

Exhibitions & Events

Consumer, trade conference events

Treasury & Investment

Investible funds exceed $1b

4

Dominant Newspaper Publisher in Singapore

SPH publishes 19 out of 20*

licensed newspapers in Singapore

More than 60% of population above 15 years old read one

of SPH’s news publications daily

In Singapore, newspapers has the highest share of the

media ad market

SPH has a spectrum of products including the English flagship daily, The Straits Times (since 1845), and the Chinese daily, Lianhe Zaobao (since 1926)

* SPH owns 40% of Today, a freesheet by MediaCorp

We continue to invest in new initiatives catering to readers’ and advertisers’ needs

� Constant refreshing of our products including The Straits Times, Lianhe Zaobao, LianheWanbao, The New Paper, Berita Harian/Minggu and MyPaper. One notable example is the major revamp of Straits Times on 1 July 2015 as we celebrated its 170th anniversary

� Launch of tablet and mobile phone versions (iPad, iPhone and Android) for The Straits Times, The Business Times, Berita Harian, Lianhe Zaobao and Lianhe Wanbao

� Continued subscription campaigns

� The Straits Times is Singapore’s #1 mobile news app

� Zaobao, Asiaone and MyPaper rank amongst the top 20 most downloaded news apps in Singapore

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Maintaining high newspaper readership

Source: Nielson Media Research, Media Index

SPH newspapers maintain popularity and high readership

despite challenging environment

� In Singapore, newspapers has the highest share of the media ad market

� While the proportion of households with internet access (>80%^) is one of the highest globally, the internet’s share of the media ad market remains in the teens*

� SPH’s print media has maintained its dominance despite the presence of the internet

� Easy access to shops, entertainment and other amenities is Singapore’s lifestyle and this offers a superior experience to online shopping

� Locals frequently visit international websites, which makes online advertising very long tail

� Our newspapers provide local content that readers are unable to find on other online sources

� Effectiveness of our print product that reaches more than 2 million individuals daily

� Local newspaper reading habits are still strong

� We have continued to maintain strong newspaper readership (print and digital), with our competitively priced subscription packages

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Print vs digital media in Singapore

^ Source: Latest available IDA survey on Infocomm Usage in Households* Source: PricewaterhouseCoopers LLP, 2015

Daily Average Newspapers CirculationAugust 2015

77

Majority of digital subscribers also subscribe for print

* Classified includes Recruitment and Notices

Advertising market remained cautiousGovernment policies continued to impact on Property sector

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-7.1%-7.1%

-7.9%

-12.5%

-7.6%

-10.4%

-12.6%

-11.0%-10.5%

-10.3%

-9.9% -10.1%

-9.0% -8.4% -8.7%

-11.9%

-8.4%

-10.3%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

3Q 2015 4Q 2015 FY2015 1Q 2016 2Q 2016 1H 2016

Newspaper Ad Revenue Y-O-Y Growth (%)

Display Classified* Total

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Growth Thrusts

MagazinesOnline Classified

Events andExhibitions

SPH

Property

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Magazines - A Growth Story

� The leading publisher in Singapore and Malaysia

� About 100 magazine titles in Singapore and the region

� 70 digital titles and growing

Magazines

VIETNAM

HONG KONG

PHILIPPINES

INDONESIA

THAILAND

From 5 titles in 2003, to about 100 titles in Singapore and beyond11

SINGAPORE

CHINA

MALAYSIA

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Web, Mobile and Tablet

News & Infotainment

www.businesstimes.com.sg

www.beritaharian.sg

Tamilmurasu.tamil.sg

www.straitstimes.com

Omy is Singapore's first bilingual news and interactive portal that caters to needs of the new bilingual internet generation

STOMP (Straits Times Online Mobile Print) integrates content and activities in three platforms of print, online and mobile

SPH is committed to developing innovative new media platforms that synergise with its traditional media offerings

An interactive web TV to engage audience and capture new eyeballs

RazorTV Social Networking

www.tnp.sgwww.asiaone.com

Apps

www.mypaper.sg

www.soshiok.com

Singapore’s leading e�marketplace for cars

SgCarmart is the number one carclassified site in Singapore thatoffers car listings, car auctions,valuation and a car forum.

It achieved page views of about45 million and 1 million uniquevisitors.

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Singapore’s leading e�marketplace for property

Streetsine offers real time, relevant and proprietary information and other services for efficiently transacting real estate in Singapore.

It has established strategic partnerships with 14 major real estate agencies in Singapore and sees more than 200,000 listing searches each month.

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SRX is the authoritative source for Singapore real estate

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No. No. No. No. 1111No. No. No. No. 1111

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Regional Online Classifieds

� JV for regional classifieds business with Schibsted and Telenor

� SPH holds a 33.3% stake in mudah.my and chotot.vn

IndonesiaThailand� Extended JV to include Naspers

in Thailand (18.6% stake) and Indonesia (13.3% stake)

No. No. No. No. 1111No. No. No. No. 1111

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Events and Exhibitions

� Since 2008, Sphere expanded rapidly to become a regional leader in events and exhibitions

� Our portfolio of more than 30 shows spans across a

� variety of themes (consumer, trade and conferences)

� wide spectrum of sectors (Baby & Kids, Gourmet & Festivals, Food, Manufacturing and Technology)

� Expanding regional presence in Malaysia, Myanmar, Philippines and Sri Lanka, through acquisition and bringing homegrown shows to the region.

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Events and Exhibitions

Consumer

• Baby & Kids• Tertiary Education• Events

Management• Food & Electronics• Furniture &

Lifestyle• Gourmet• Motherhood• Technology• Roadshows• Weddings

Trade

• Building Technology

• Manufacturing Solutions

• Franchising & Licensing

• Gifts & Stationery• Office Equipment• Food & Beverage• Automation &

Laboratory

Conference

• Healthcare• General

Management• Banking• Hospitality &

Tourism• Civil Aviation• Urban

Development & Real Estate

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� Build on track record of Paragon in the retail mall sector

� Buy and hold attractive infrastructure in Singapore

� Property yields and capital appreciation to boost Group’s total returns

� Property projects dependent on future opportunities

Property strategy

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� Premier luxury shopping mall on Orchard road, valued at S$2.76b*

� 100% occupancy

� Suburban retail mall, strategically located in a good residential catchment area with high levels of visitation

� Valued at S$0.5b*

� 100% occupancy

Paragon The Clementi Mall

SPH REIT

* Based on latest valuation as at 31 August 2015

Delivered a distribution yield of 5.7% to shareholders (based on closing price of $0.96 per unit on 31 August 2015)

1. The mall opened on 28 November 2014 with full occupancy

2. Gross development value of S$0.5b*

3. Attractive location:

� fast-growing population

� good mix of public housing andprivate homes

� easy access to LRT station andexpressways

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The Seletar Mall

3. Gross development value of S$0.5b*

4. Average footfall is above 1 million visitors per month

5. Pipeline asset for injection into SPH REIT

6. Malls usually take at least one to two rental cycles to stabilise and be yield accretive. AsThe Seletar Mall has commenced operations only in late 2014, it is still too early to tellwhen it will be injected into SPH REIT.

* Based on valuation at Aug 2015

• Conservative stance

maintained on investment

allocation, focused on capital

preservation

• Returns are expected to be

commensurate with low

risk-return profile to mitigate

against volatility

(As at August 31, 2015)

41.4%

10.0%36.7%

11.9%

Group Investible Fund(S$1.2b)

Equities Bonds

Investment Funds Cash and deposits

Group investible fund

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Healthy Operating Margin

* This represents the recurring earnings of the media, property and other businesses.

** Computed based on recurring earnings excluding Sky@eleven.

^ With effect from FY2013, the Group changed its accounting policy for investment properties from cost to fair value model. The

change was applied retrospectively and accordingly, the comparative financial statements for FY2012 were restated

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0

100

200

300

400

500

600

FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012

(Restated)^

FY2013 FY2014 FY2015

S$'mRecurring Earnings* and Operating Margin**

Recurring earnings (S$'m) Sky@eleven profits (S$'m) Operating Margin

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Dividend Track Record

* Computed based on Group recurring earnings net of SPH REIT’s non-controlling interest (S$315m)^ Excludes special dividend of 18 cents paid pursuant to the establishment of SPH REIT

^

24 2422 21 20

94.4%

90.2%

96.2%

107.8%

102.1%

60.0%

70.0%

80.0%

90.0%

100.0%

110.0%

120.0%

10

15

20

25

30

35

2011 2012 2013^ 2014 2015

(cents)

Interim & Final Div (LHS) Div Payout Ratio* (RHS)

Thank you

Please visit www.sph.com.sg

for more information.