TAMBUN INDAH LAND BERHAD

Strictly Private & Confidential

4Q20 CORPORATE UPDATE

February 2021

CONTENTS

Operations Review

Financial Highlights

Growth Strategies

Investment Case

Appendix

2

OPERATIONS REVIEW

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4Q20 OPERATIONS REVIEW

Achieved take-

RM453.5 mil

(RM331.8 mil @ 31-Dec 19)

54.8%

(31.1% @ 31-Dec 19)

RM168.2 mil

(RM185.0 mil for FY 31-Dec 19)

RM92.8 mil

(RM58.8 mil @ 31-Dec 19)

Ongoing Gross Development Value (GDV)@ 31-Dec 20

12M20 New Sales@ 31-Dec 20

Average Take-up Rate@ 31-Dec 20

Unbilled Sales@ 31-Dec 20

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FINANCIAL HIGHLIGHTS

5

148.8

107.2

78.1

60.2

34.0

FY16 FY17 FY18 FY19 FY20

112.2

81.5

55.448.6

25.3

FY16 FY17 FY18 FY19 FY20

Group Revenue ( ) Group Gross Profit Margin (%)

360.8

277.2

179.3148.6

131.9

FY16 FY17 FY18 FY19 FY20

Group PBT ( ) Group PATMI ( )

REVENUE AND PROFIT TRENDS

45.4% 45.7%

53.1%50.2%

40.5%

FY16 FY17 FY18 FY19 FY20

Note 1: PBT: Profit Before Tax; PATMI: Profit After Tax and Minority InterestsNote 2: 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2016 has been prepared in accordance with Financi

FRS MFRS MFRS MFRS MFRS FRS MFRS MFRS MFRS MFRS

FRS MFRS MFRS MFRS MFRS FRS MFRS MFRS MFRS MFRS

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As at As at31-Dec-20 31-Dec-19

MFRS MFRSNon-Current Assets 450.5 454.6Current Assets 340.4 375.3Current Liabilities 35.3 70.2Non-Current Liabilities 104.2 119.4

653.2 639.8Non-Controlling Interest -1.8 0.5Borrowings (ST + LT) 116.9 160.4Cash & Bank Balances 97.6 158.1Net Gearing Ratio (x) 0.03x 0.00xNet Assets / Share (RM) (1) 1.50 1.48Return on Average Shareholders Equity (2) 3.9% 7.8%

BALANCE SHEET

(1) Based on 434.5mil (2019: 433.5 mil) ordinary shares(2) Trailing 12 months

Balance Sheet (Snapshot)

536 58

1 608 64

0 653

138

106

96

160

117

121

105

175

158

98

FY16 FY17 FY18 FY19 FY20

Shareholders Equity Gross Borrowings Cash & Bank Balances

Net Gearing

0.03x

Net Gearing

0.00x

Net Cash

Net Gearing

0.00x

Net Gearing

0.03x

Note: 1st January 2018, the above information for FY2017 onwards have been prepared in accordance with MFRS, whereas information for FY 2016 has been prepared in accordance with Financi

FRS MFRS MFRS MFRS MFRS

7

10.0

7.7

4.93.9

FY16 FY17 FY18 FY19

Dividend Payout ( ) Dividend Per Share (sen)

DIVIDEND HISTORY

Progressive dividend policy that pays 40% to 60% of net profit*

Dividend Policy: 40% to 60% of net profit excluding any valuation gain or loss on investment properties for the financial year

42.733.4

21.216.9

40.7% 40.1% 40.1% 40.2%

FY16 FY17 FY18 FY19

Dividend Paid Payout Ratio

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GROWTH STRATEGIES

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GROWTH STRATEGIES

landbanking

To establish recurring income stream through investment properties

Recurring income stream from investment properties such as GEMS International School, Pearl City Mall, Straits Garden Commercial Lots and Jesselball Sports CentreTo further develop and promote Pearl City Business Park to enhance recurring income stream

To identify and expand strategic landbank in and outside Penang to sustain growth

To leverage on township development experience and duplicate success in potential landbanks

landbanking

To launch new projects in 2021

Planned projects launch in 2021 with RM244.0 million GDVAster Villa a gated and guarded residential development comprising 255 units of double storey terrace houses, semi detached houses and bungalow in Pearl CityAmbay Garden a landed residential development comprising 178 units of double storey terrace houses and semi detached houses in Pearl City

INVESTMENT CASE

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VALUATION

1 Based on 434.5 mil shares 2 Based on NTA per share of RM1.50 as at 31-Dec-20203Based on FY19 dividend of 3.9 sen per share 12

Share price @ 8-Feb 2021 RM0.635Market Cap @ 8-Feb 20211 RM275.9 milTrailing PE ratio 10.91xPrice to book ratio 2 0.42x

FY19 Dividend Yield 3 6.1%

Respected brand name in the Penang property market with an established track record as aninnovative and quality developer

Strong growth catalysts in Penang that will continue to spur property demand, boosted byforeign direct investment and infrastructure projects

Tambun Indah is a good proxy to the Penang Second economic impact, with itsiconic Pearl City township development

Earnings to be sustained by existing and pipeline projects of approximately RM3.9 billionsupported by land banking to diversify outside of Penang if the opportunity arises.

Committed to creating value by constantly seeking market re-rating

Dividend policy of 40% to 60% of net profit excluding any valuation gain or loss oninvestment properties for the financial year

INVESTMENT MERITS

Attractive proxy to the fast-growing Mainland Penang property market...

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Disclaimer: Any information, details, views or opinions presented in this presentation are solely for your benefit and may not be disclosed in whole or in part by youto anyone. Any information, details, views or opinions presented in this presentation are subject to change without notice. Our company accepts no liability for thecontents of this presentation, or for the consequences of any actions taken on the basis of the information provided.

THANK YOU

IR Contacts:Ms. Roselyn Tan T: 04-3240088 roselyn.tan@tambunindah.com

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APPENDIX

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Based on weighted average no. of ordinary shares issued for each period

4Q20 4Q19 FY20 FY19MFRS MFRS MFRS MFRS61,241 40,032 53.0% Revenue 131,870 148,563 (11.2%)24,513 16,573 47.9% Gross Profit 53,383 74,649 (28.5%)40.0% 41.4% (1.4 pt) Gross Margin 40.5% 50.2% (9.8 pt)19,191 18,159 5.7% PBT 33,937 60,184 (43.6%)31.3% 45.4% (14.0 pt) PBT Margin 25.7% 40.5% (14.8 pt)13,691 15,977 (14.3%) PATMI 25,278 48,641 (48.0%)22.4% 39.9% (17.5 pt) Net Margin 19.2% 32.7% (13.6 pt)3.15 3.69 (14.5%) 5.83 11.22 (48.1%)

Change Change RM'000

79.5

69.

5

67.9

60.3

40.1

48.

1

48.2

42.9

35.3

40.1

33.1

40.0

14.1

14.1

42.

4

61.2

FY2017

23.3

19.7 21

.9

16.6

11.4 15

.0

16.1

12.9

10.

1 11.6

10.9 16

.0

0.8

0.7

10.

1 13.7

FY2017

Quarterly Group Revenue Quarterly Group Net Profit

INCOME STATEMENT

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CORPORATE PROFILE

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Founded in 1994, Tambun Indah is reputable in Mainland Penang for high-quality, modern design projects at relatively affordable prices

Many of our developments are enjoying full take-up rates & stable in secondary home market

-ever gated & guarded landed community Taman Tambun Indah (launched in 1994)Also unveiled Seberang first strata-landed gated community, Palm Villas (launched in 2007)

Has launched more than 9,000 units with total GDV of approximately RM3.8 billion since inception

Now developing the first integrated township in Mainland Penang at Simpang Ampat, Pearl City

Iconic flagship with an estimated GDV of RM5.6 billion

Tambun Indah was included in for 2013, 2014 and 2015

Tambun Indah was awarded RHB Top Malaysia Small Cap Companies in year 2013, 2014 and 2016

Tambun Indah was awarded TheEdge Top 30 Property

CORPORATE OVERVIEW

An established reputation for developing modern, relatively affordable projects... pioneering many firsts in Mainland Penang

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PENANG GROWTH CATALYSTS

Combined approved manufacturing investments of more than RM80 billion since 2010 [Source: MIDA]

Significant domestic and foreign direct investments (DDI and FDI) include:

AviatronBoon Siew HondaBoston Scientific Medical DeviceBroadcomFlexHaemonetics CorporationHewlett-PackardHotayi ElectronicInari TechnologyJabil Malaysian Automotive LightingMicron UWC VATVITROX CorporationWestern Digital

Expansion of Batu Kawan Industrial Park to generate new manufacturing activities & employment opportunities Tourism and medical tourism seen as future growth driversPenang Second Bridge to spur further economic growth by improving transportation network

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PEARL CITY TRANSPORT INFRASTRUCTURE

Pearl City

5-min drive from North-South Highway

15-min to 20-min drive from 1st & 2nd Penang bridges; and

1-min drive from Electrified Double Track Commuter Train station

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PEARL CITY CATCHMENT AREA

Pearl City

12 industrial parks located within a 15km radius from the project

These include:Prai Industrial EstatePenang Science ParkBukit Minyak Industrial EstateBukit Tengah Industrial EstateBatu Kawan Industrial Park

Surrounding industrial parks capable of generating abundant employment opportunities

Well-

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