2023 HIGHLIGHTS 5-YEAR FINANCIAL HIGHLIGHTS NOTES: 1 Final tax-exempt (one-tier) ordinary dividends proposed for financial year ended 31 December 2023 will be subject to the approval of the ordinary shareholders at the forthcoming Annual General Meeting. 2 Excludes fair value gains on investment properties as the Group's accounting policy is to state its investment properties at cost less accumulated depreciation and accumulated impairment losses. 3 Based on CDLHT unit price of $1.27 on 25 May 2022. 4 Excluding non-cash impairment losses and/or reversals of impairment losses for properties, plant and equipment, and investment properties. YEAR 2019 2020 2021 2022 2023 For the financial year ($’million) Revenue 3,429 2,108 2,626 3,293 4,941 Profit before tax 754 (1,791) 215 1,857 473 Profit for the year attributable to owners of the Company (PATMI) 565 (1,917) 85 1,285 317 At 31 December ($’million) Property, plant and equipment 5,462 5,526 5,362 4,061 4,213 Investment properties 4,410 4,569 4,983 4,967 6,291 Development properties 5,156 5,391 5,839 5,958 4,878 Cash and bank balances (including restricted deposits in other non-current assets and bank balances in assets held for sale) 3,084 3,237 2,191 2,370 2,511 Other assets 5,088 4,954 5,505 5,625 6,341 Total assets 23,200 23,677 23,880 22,981 24,234 Equity attributable to owners of the Company 10,520 8,502 8,401 9,216 9,180 Non-controlling interests 746 740 918 348 359 Borrowings 9,711 11,555 11,140 9,669 11,626 Other liabilities 2,223 2,880 3,421 3,748 3,069 Total equity and liabilities 23,200 23,677 23,880 22,981 24,234 Per share Basic earnings (cents) 60.8 (212.8) 7.9 140.3 33.6 Net asset value ($) 11.60 9.38 9.26 10.16 10.12 Dividends (cents) a) Ordinary dividend - final 8.0 8.0 8.0 8.0 8.01 - special interim 6.0 – 3.0 12.0 4.0 - special final 6.0 4.0 1.0 8.0 – b) Distribution in specie – – 20.23 – – c) Preference dividend (net) 3.9 3.9 3.9 3.9 3.9 Financial ratios Return on equity (%) 5.4 (22.5) 1.0 13.9 3.5 Net gearing ratio (%)2 61 93 99 84 103 Net gearing ratio if fair value gains on investment properties are taken into consideration (%) 43 62 61 51 61 Interest cover ratios (times)4 14.0 3.4 3.0 9.8 2.8 * Including fair value gains on investment properties. ^ Excluding non-cash impairment losses and/or reversals of impairment losses for properties, plant and equipment, and investment properties. NET GEARING RATIO* 61% 51% in 2022 BASIC EARNINGS PER SHARE 33.6 CENTS 140.3 cents in 2022 INTEREST COVER^ 2.8x 9.8x in 2022 DIVIDEND PER SHARE 12.0 CENTS 28.0 cents in 2022 CASH AND AVAILABLE COMMITTED CREDIT FACILITIES $3.6 BILLION $4.1 billion in 2022 CLOSING SHARE PRICE $6.65 $8.23 in 2022 REVENUE $4.9 BILLION $3.3 billion in 2022 TOTAL ASSETS $24.2 BILLION $23.0 billion in 2022 EBITDA $1.1 BILLION $2.3 billion in 2022 NET ASSET VALUE PER SHARE $10.12 $10.16 in 2022 PATMI $317.3 MILLION $1.3 billion in 2022 REVALUED NAV (RNAV) PER SHARE* $17.21 $16.98 in 2022 14 OVERVIEW CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2023 CITY DEVELOPMENTS LIMITED 15
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