SingSpring Desalination Plant

Singapore

Basslink

Australia

Keppel Infrastructure Trust (“KIT”) is a listed business trust that provides investors with the opportunity to invest in a large and well-diversified portfolio of core infrastructure assets located in jurisdictions with well-developed legal frameworks that support infrastructure investment.

The Trust aims to provide long-term, regular and sustainable distributions to its Unitholders.

Investment meritsKIT’s stable distributions are supported by:

Fixed availability payments regardless of the actual amount of water or electricity produced, or waste incinerated

Long term contracts with government/reputable counterparties, or in the case of City Gas, a large and diversified customer base

Cash flows from infrastructure or essential services that are uncorrelated to GDP

KIT’s portfolio comprises highly strategic assets providing utilities, power, and telecoms infrastructure:

Key figures as at 31 March 2018

Distribution yield 7.0% Market cap $2.1b

Gearing level1 40.1%

Total assets Approx. $4.0b

NAV per Unit 29.6 cents

Distributable Cash Flows $36.2m (1Q 2018)

DPU (1Q 2018) 0.93 cents1 Net debt over total assets

Senoko WTE Plant

Singapore

Keppel Seghers Tuas WTE Plant

Singapore

Keppel Seghers Ulu Pandan NEWater Plant

Singapore

DataCentre One

Singapore

1 - Ulu Pandan has an overall capacity of 162,800m3/day, of which 14,800m3/day is undertaken by Keppel Seghers Engineering Singapore.

Asset Description Customer and Contract Terms Primary Source of Cash Flows

Waste-to-energy plant with 2,310 tonnes/day waste incineration concession

NEA, Singapore government agency – concession until 2024

Fixed payments for availability of incineration capacity

Waste-to-energy plant with 800 tonnes/day waste incineration concession

NEA, Singapore government agency – concession until 2034

Fixed payments for availability of incineration capacity

One of Singapore’s largest NEWater plants, capable of producing 148,000 m3/day 1

PUB, Singapore government agency – concession until 2027

Fixed payments for the provision of NEWater production capacity

Singapore’s first large-scale seawater desalination plant, capable of producing 136,380 m3/day of potable water

PUB, Singapore government agency – concession until 2025 (underlying land lease till 2033)

Fixed payments for availability of output capacity

Sole producer and retailer of piped town gas

Over 813,000 commercial and residential customers

Fixed margin per unit of gas sold, with fuel and electricity costs passed through to consumer

1,300 MW combined cycle gas turbine power plant

Capacity Tolling Agreement with Keppel Electric until 2030, with option for 10-year extension (underlying land lease till 2035, with 30-year extension)

Fixed payments for meeting availability targets

Data centre Lease agreement with 1-Net (100% subsidiary of MediaCorp) until 2036, with option for 8-year extension

Contractual lease revenue

Basslink subsea interconnector that transmits electricity and telecoms between Victoria and Tasmania in Australia

Service agreement with Hydro Tasmania (owned by Tasmania state government) until 2031, with option for 15-year extension

Fixed payments for availability of Basslink subsea cable for power transmission

City Gas

Singapore

Keppel Merlimau Cogen (KMC)

Singapore

All information as at 31 March 2018 unless stated otherwise.

Stable distributions per Unit (cents)

1

0.8

0.6

0.4

0.2

0 2QFY16 3QFY16 4QFY16 1QFY17 2QFY17 3QFY17 4QFY17 1QFY18

0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93

Stock information

SGX stock code A7RU

Bloomberg ticker KIT:SP

KIT is a constituent of the following indices:

FTSE ST Large & Mid Cap Index

MSCI Singapore Small Cap Index

Total Assets (%) as at 31 Mar 2018 • Corporate 2

• Concessions 19

• City Gas 18

• Basslink 33

• KMC 2 28

Total 100

For more information:

http://www.kepinfratrust.com

IR Contact

Tel: (65) 6803 1738

Email: investor.relations@kepinfratrust.com

Distributable cash flows ($’mil) 45.0

40.0

35.0

30.0

25.0

20.0

15.0

10.0

5.0

0.0 2QFY16 3QFY16 4QFY16 1QFY17 2QFY17 3QFY17 4QFY17 1QFY18

38.0 38.9 32.0 34.2 38.7 40.5 30.8 36.2

1Q 2018 Adjusted EBITDA¹ (%)

• Concessions 34

• City Gas 22

• Basslink 21

• KMC 2 23

Total 100

Notes 1 Adjusted EBITDA includes reduction in concession receivables and excludes Trust/corporate expenses2 Based on KIT’s 51% stake in KMC

Outlook and StrategyStable portfolio complemented by potential upside from: • Organic growth of City Gas customer user, and higher penetration of gas appliances such as water heaters • Potential adjustment in KMC fees at the end of initial 15-year period

Synergies in co-investment, incubation opportunities and expertise through Keppel Infrastructure and Keppel Capital

Pipeline of assets from Keppel Infrastructure for possible acquisition, e.g. Keppel Marina East Desalination Plant

Acquisition strategy: assets that generate stable cash flows, in developed markets in Asia and Europe

All information as at 31 March 2018 unless stated otherwise.