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30 July 2012

Q1 FY2012/13 ResultsFinancial year ending 31 March 2013

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ContentsExecutive summaryGroup resultsSegment resultsOperating expensesFinancial position, cash flows, dividend

Developments & outlook

The following presentation contains forward looking statements by themanagement of Singapore Post Limited ("SingPost"), relating to financial trendsfor future periods, compared to the results for previous periods.

Some of the statements contained in this presentation that are not historicalfacts are statements of future expectations with respect to the financialconditions, results of operations and businesses, and related plans andobjectives. Forward looking information is based on management's currentviews and assumptions including, but not limited to, prevailing economic andmarket conditions. These statements involve known and unknown risks anduncertainties that could cause actual results, performance or events to differmaterially from those in the statements as originally made. Such statements arenot, and should not be construed as a representation as to future performanceof SingPost. In particular, such targets should not be regarded as a forecast orprojection of future performance of SingPost. It should be noted that the actualperformance of SingPost may vary significantly from such statements.

“$” means Singapore dollars unless otherwise indicated.

Forward-looking Statements – Important Note

Executive Summary

Challenging operating environment• Economic slowdown, industry challenges, cost pressures, especially

in Domestic Mail

Continuing investments to build business while focusing on cost management• Impact of investments in resources to accelerate transformation

Gaining traction• Improving topline growth in new business areas – hybrid mail/digital

services, e-fulfilment

YoY % change

Revenue

Operating expenses

Underlying net profit

+6.5%

+8.9%

(2.2%)

Q1 FY12/13

$151.6M

$115.6M

$36.6M

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* Profit after tax attributable to equity holders of the Company; underlying net profit excludes one-off items.

Gaining traction on transformation initiatives

Lower property-related income, interest income & trade-related foreign exchange gain

Inclusion of new associates

Growth across business segments

Margin pressures in Domestic Mail and Logistics; continued investments in resources

Group Results: Q1 P&L Highlights

Continued impact of domestic mail decline and investments for the future

5Note: Q1 FY2011/12 figures in italics

Increasing proportion of contributions from faster-growing Logistics and Retail

Regional contributions boosted by Quantium Solutions

Revenue by business segments Revenue by geographic distribution

Towards a more balanced revenue and earnings portfolio

Group Results: Revenue Breakdown

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Q1 FY12/13 % change

$100.9MRevenue +3.7%

$34.6MOperating profit (4.3%)

$60.6MDomestic mail (0.8%)Revenue breakdown

$32.5MInternational mail +7.3%

$6.9MHybrid mail +46.8%

$0.9MPhilatelic (23.0%)

Growth in international mail and hybrid mail (consolidation of Novation Solutions acquired in May 2012)

Impact of higher business costs especially in Domestic Mail

Segment Results: Mail Q1 Performance

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Q1 FY12/13 % change

$57.1MRevenue +11.5%

$3.1MOperating profit +54.2%

$39.6MQuantium Solutions +16.5%

Revenue breakdown

$13.6MSpeedpost +2.3%

$4.0MOthers * (1.1%)

* vPOST , Transhipment & others

Segment Results: Logistics Q1 Performance

Growth driven by regional e-fulfilment activities

Recovery in profitability with stronger topline growth but still early stages of turnaround

Continued investments in resources to build regional operations

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Segment Results: Retail Q1 Performance

Q1 FY12/13 % change

$18.6MRevenue +12.4%

$3.6MOperating profit +74.6%

$5.5MRetail – agency, products & others

+16.3%

Revenue breakdown *

$6.3MFinancial services +25.1%Revenue growth driven by financial services, Clout Shoppe

Improved profitability on higher financial services contributions

* Excluding inter-segment

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Q1 FY12/13 % change

$115.6MOperating expenses +8.9%

$48.3MLabour & related +9.2%

$42.1MVolume related +11.6%

$16.7MAdmin & other +9.0%

$6.8MDepreciation (4.1%)

$1.7MSelling (5.3%)

Investing to stay relevant and enhance servicesPeople │ Technology │ Operations

Tight control over non-strategic expenses, e.g. lean admin background, spending controls

Inflationary cost pressures on labour, rental, utilities

Increase in tandem with business growth

Operating Expenses

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Strong financial positionHealthy cash flows

Q1 interim dividend payable - 1.25 cents/share31 August 2012

Financial Position, Cash Flows, Dividend

Q1 FY11/12

Q1 FY12/13

Net cash from operating activities 33.8 51.3

Net cash provided by/ (used in) investing activities (24.4) 3.2

Net cash used in financing activities (2.9) (3.2)

Net increase in cash 6.6 51.3

Cash & cash equivalents 345.4 668.7

Mar 2012 Jun 2012

Ord. shareholders’ equity $313.0M $300.9M

Borrowings $505.7M $507.3M

Net cash $111.6M $161.4M

Net debt plus perp. securities to equity 0.8x 0.6x

EBITDA to interest expenses 17.2x 18.1x

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Developments & Outlook

A strong, regional diversified group

Retail & Fin’l

ServicesMail Digital

ServicesRegional

Logistics &e-Fulfilment

e-Commerce

PROTECTING THE CORE GROWING THE WINGS

MailParcelPhilately

vBOXDocument management

SingaporeSpeedPostQuantium Solutions

vPOSTClout ShoppeEzsuite

TransactionalservicesFinancial servicese-commerce hubs

• Good momentum and traction on transformation initiatives

• Growing contributions from new business areas, rolling out new products and services

• But early stage of transformation, we need to:

a) Continue investing in people, technology and operations

(enablers to drive growth and further improve productivity)

b) Be vigilant on costs (focus on cost management and optimisationmeasures)

c) Accelerate revenues

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The complete set of financial statements is available on SGXNET and our website at www.singpost.com.