CMS MANAGEMENT PRESENTATION

1

Disclaimer

This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events.

The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Cahya Mata Sarawak Berhad (“CMSB”) or any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation.

The past performance of CMSB is not indicative of the future performance of CMSB.

The value of shares in CMSB (“Shares”) and the income derived from them may fall as well as rise. Shares are not obligations of, deposits in, or guaranteed by, CMSB or any of its affiliates. An investment in Shares is subject to investment risks, including the possible loss of the principal amount invested.

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Today’s Presenters

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Y Bhg Dato’ Richard Alexander John Curtis Group Managing Director

Joined CMS in 2006 as GMD. Non executive directorship positions include K&N Kenanga Holdings

Bhd, Kenanga Investment Bank Bhd. Bachelor of Law (LL.B.) Honours from Bristol University, UK, Sloan

Fellow of London Business School, admitted and practised as a solicitor in England and Hong Kong.

Joined CMS in 2005, appointed GM, Group Finance & Treasury at end 2005, Group CFO in September 2009.

Non executive directorship positions include KKB Engineering Berhad.

Bachelor of Science with Finance major and Economics minor, San José State University, California.

Tuan Syed Hizam Bin Syed Mahmood Ezzularab Abdul-Moez Alsagoff Group Chief Financial Officer

Contents

Section 1 Sarawak Overview

Section 2 CMS Overview

Section 3 Business Overview

Section 4 Financial Highlights

Section 5 Corporate Social Responsibility & Governance

Section 6 Group Strategies & Going Forward

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28/04/2015 5

Section 1

Sarawak Overview

Malaysia Sarawak

Area: 330,250 Sq.Km Population: 28.5 Million Capital City: Kuala Lumpur Number Of State: 13

Area: 124,449 Sq.Km Population: 2.5 Million Capital City: Kuching Number Of Division: 11

South China Sea

Area and Population

6

Sarawak

About Sarawak and SCORE

• Location North-Western shore of Borneo Island

• System of Parliamentary democracy with a contitutional monarch Government

• Population About 2.5 million (with an average growth rate of 1.8%)

• Ethnic Group Malays, Iban, Chinese, Bidayuh, Melanau,Orang Ulu,Indian and other indigenous groups

• Climate Tropical: warm and sunny throughout the year.

Sarawak Corridor of Renewable Energy (SCORE )

• Period 2008 – 2030

• Vision To be a Developed and Industrialised State

• Launched by YAB Prime Minister on 11 February 2008

• Area Covered 70,708 (Central Region)

(km2)

• Corridor Authority Regional Corridor Development Authority (RECODA)

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State Credit Rating

Standard &

Poor’s

A-

Stable Outlook

Moody’s Investors Services

A3

Stable Outlook

Ram Rating

Services

AAA

Strong Outlook

Malaysia Rating Corp.

AAA

Strong Outlook

8

5 Growth Nodes of SCORE

1. ACCESS ROAD 62KM TO MURUM HEP

3. PROPOSED ACCESS ROAD 73KM TO BALEH HEP

5. PROPOSED ACCESS ROAD TO TUNOH

2. ACCESS ROAD 127KM TO BARAM HEP

6. SAMARAKAN/SANGAN/ NG. MERIT/KAPIT ACCESS ROAD

159KM

4. PROPOSED ACCESS ROAD TO LIMBANG HEP

11. MUKAH WATER SUPPLY

8. WATER SUPPLY TO SAMALAJU ( Phase 1 Stage 1)

Bintulu

Mukah

Miri

Lawas

Limbang

KAPIT

BAKUN HEP (2,400 MW)

BALEH HEP (1200 MW)

BARAM HEP (1000 MW)

LIMBANG HEP (150 MW)

Long Lama

Belaga

Beluru

MURUM HEP (990 MW)

Tunoh TANJUNG MANIS

10. TG MANIS WATER SUPPLY

12. JALAN HAB HALAL TG MANIS

7. PROPOSED NEW MUKAH AIRPORT 9. WATER SUPPLY TO

SAMALAJU ( Phase 1 Stage 2)

SAMALAJU INDUSTRIAL PARK

TG. MANIS HALAL HUB DEV’T

TG. MANIS TELECOM.

Kanowit Song

Samalaju

Baram

Tunoh

Samarakan

Baleh bridge

Sangan – Sg. Anap 18km

B1 : 16km

Samalaju Heavy and Energy

Intensive Industries Mukah

Smart City, Services Hub &

R&D

Baram HEP, Oil Palm and Forest Plantation

Eco-Tourism

Tunoh Oil Palm and Forest

Plantation, Agriculture and Eco-Tourism

Tanjung Manis Halal Hub

SIBU

SARIKEI

BATANG AI HEP

(100 MW)

BETONG

SRI AMAN

KUCHING SAMARAHAN

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Summary of Investment by Growth Nodes

No. Growth Node No. of Project

Investment (RM Bn) Jobs Land

(ha) Water (MLD)

Electricity (MW)

Gas (mil. scf/day)

1 Samalaju 27 44.5 17,009 2,400.3 127.4 3,923.0 14.9

2 Mukah 1 0.6 800 366.0 4.0 90.0 17.7

3 Tanjung Manis 3 2.3 1,852 1,709.0 3.7 61.0 0.0

4 Kidurung 1 2.6 500 30.0 0.0 10.0 0.0

Total 32 50.0 20,161 4,505.3 135.1 4,084.0 32.5

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Private & Confidential

Private & Confidential Building Sustainable & Vibrant Communities 11

Samalaju Industrial Park

Ph 1 (operational by 2014/2015) 1: Press Metal 2: Tokuyama 3: OM Materials Ph 2 (2015 & beyond) 1: Sakura 2: Asia Advanced Materials 3: Pertama Ferroralloys 4: Malaysian Phosphate 5: Elkem 6: PMB Carbon 7: Indo Mall 8: Makmoni Ph 3 (2017 & beyond) 1: Cosmos Petroleum 2: Leader Universal 3: Aimbest Steel Ph 4 (post 2018) 1: Toho Titanium 2: SIMPAC Metalloy 3: Smelter Asia

Industrial Plot Development Phasing

1 2

3

4

1

2

3 4

5

6

7

1

2 3

4 1

2

3

Aerial View of Samalaju Industrial Park

Samalaju Port Press Metal

Workers Camp

Power Sub-Station

Water Treatment Plant

Sewerage Treatment Plant

OM Holding

Asia Minerals Limited

Tokuyama

Samalaju Industrial Park • Centre for heavy & energy intensive industries • More than 8,000 ha of land • Located 62 km away from existing industrial town of Bintulu

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Section 2

CMS Overview

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Our Vision & Mission

VISION

To be the PRIDE of Sarawak & Beyond

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MISSION

P Producing Quality, On Spec & On Time R Respect & Integrity I Improving, Innovating & Investing in People D Delivering Sustainable Growth E Environmentally Conscious, Safe & Conducive Workplace

STAKEHOLDERS \

Shareholders, Staff, Customers & Community

Company Snapshot Sarawak’s largest company in

infrastructure development

Total assets: RM2,800mn

S/holders’ funds: RM1,812mn

NA per share:

Net Cash per share (of RM0.50 each)

RM1.74

RM0.70

Key Statistics

Revenue: RM1,674mn

PBT: RM341mn

Basic EPS: 21.42 sen

DPS: 8.5 sen

15

ROE: 12.77%

ROA: 7.90%

Current ratio: 2.51 x

Issued Shares: 1039.91 mn

Share Price: RM4.79

Market Cap: RM4,950.0 mn

Historical PER: 22.2 x

PBV ratio: 2.57 x

Balance Sheet (FYE Dec 2014)

Income statement (FYE Dec 2014)

Key ratios (FYE Dec 2014)

Market metrics 10 Apr 15

One of Sarawak’s largest listed company, with 2,100 employees plus 1,562 in its 2 associate companies.

Incorporated in 1974; Listed on KLSE in 1989. Formerly a construction conglomerate BUT

TODAY, CMS has a sustainable and profitable portfolio of businesses focussing on Sarawak and SCORE.

Public float: c. 35%

Substantial shareholders (as of 1 April 2015)

Shareholding (‘000) %

Majaharta Sdn Bhd 134,775 12.96

Lejla Taib 111,000 10.67

Dato Sri Sulaiman AB Rahman Taib 88,395 8.50

Dato Sri Mahmud Abu Bekir Taib 88,200 8.48

Sarawak Economic Development Corporation

80,896 7.78

Employees Provident Fund (KWSP) 79,917 7.68

Overview of Key Business Segments

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Cement

Sole cement manufacturer in Sarawak.

Installed capacity of 1.75m MTpa vs. 2014 projected demand of 1.71m MT.

Sole manufacturer of clinker in Sarawak.

Clinker capacity of 0.88m MTpa,

Construction Materials & Trading

Combined quarries annual capacity of 3.15m MT, commands 35% market share for stone aggregates sold in Sarawak.

Supply 60-70% of Sarawak’s market for high quality premix & bitumen emulsion.

Manufactures steel drawn wires & wire mesh.

Construction & Road Maintenance

Involved in wide range of construction & road maintenance projects across Sarawak.

Maintains approximately:

680 km of Federal roads.

5,400 km of State roads.

Samalaju Development

Workers accommodation & related services.

Planned new township & service centre.

25% investment in OMS focuses on developing a manganese and ferro alloy smelter.

40% investment in MPA Sarawak focuses on developing an integrated Phosphate complex

Property Development

Owns 2 large land banks in Kuching.

2 major assets:

3,911-acre land bank in Petra Jaya being developed into a riverine township called Bandar Baru Samariang;

199-acre land bank in Muara Tebas being developed into Kuching ‘s new CBD, called The Isthmus.

Strategic Investments

Listed

25.07% stake in K&N Kenanga Holdings .

20% stake in KKB Engineering Bhd.

Unlisted

CMS Opus

Tunku Putra School

Core divisions generating bulk of group revenue and earnings, will continue to grow in tandem with Sarawak’s growth story Future growth driver

Strong growth potential with value

added by CMS

Hidden gem to be unlocked

Profitable businesses focus on Sarawak & SCORE development

Datuk Syed Ahmad Alwee Alsree, Group Executive Director & CMS nominee representative on K&N Kenanga, KKB & OM Sarawak (11 years in CMS).

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Experienced Management with Proven Track Record

Goh Chii Bing, ED/CEO of Cement Division covering cement, clinker and concrete products including Industrialised Building Systems (23 years in CMS).

Centre Key Business Divisions

Dato’ Isaac Lugun, CEO of Samalaju Development Division covering strategic investments in SCORE (including OM Sarawak), provision of workers camp services in SCORE and development of the new Samalaju township (19 years in CMS).

Chong Swee Sin, CEO of Construction Materials & Trading Division covering the quarrying of stones, manufacturing of steel drawn wires and mesh, the supply of premix and the provision of related grading, delivery and laying services (24 years in CMS).

Tuan Syed Hizam Alsagoff, Group Chief Financial Officer & CMS nominee representative on KKB Engineering and on OM Sarawak (10 years in CMS).

Dato’ Richard Alexander John Curtis, Group Managing Director & CMS nominee representative on K&N Kenanga (9 years in CMS).

Lim Jit Yaw, CEO of the Construction & Road Maintenance Division covering the maintenance of 5000km +/- of State roads and 680km of the State’s Federal roads as well as being an established construction company undertaking a wide variety of projects from parliament buildings to power stations (9 years in CMS). Vincent Kueh Hoi Chuang, ED/CEO of the Property Development Division which covers all CMS’ landbanks at Bandar Samariang, The Isthmus, other locations in Kuching and across Sarawak. (3 years in CMS)

Key management team consists of members with an average of 13.5 years experience in

CMS Group and an average of 28 years total working experience to spearhead the Group

forward!

Corporate Milestones

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Established as Cement Manufacturers Sarawak. Listed on

KLSE.

Adopted current name.

Acquired RHB Bhd

Disposal of CMS Roads and Pavement to UBG Bhd.

Acquired 20% stake in KKB Engineering Bhd.

Commenced manufacturing Ordinary Portland Cement at Sarawak’s 1st grinding plant.

Rapid business expansions via acquisition of infrastructure related businesses.

Diversification into new businesses.

Restructuring of financial services business.

CMS’ futures & stockbroking businesses merged with K&N’s in exchange for shares in K&N.

Disposed RHB Bhd for RM2.25b.

Disposal of UBG Bhd.

Re-acquired CMS Roads and Pavement.

Rationalisation of businesses to focus on key competencies in Sarawak & SCORE

1974 1978 2001 1996 1994 1989 2008 2007 2002 2011 2010

Ceased operation of loss making IT companies.

2009 2012

OM Materials (Sarawak) Sdn Bhd ground breaking and signing of PPA

2013

Signed JVA with MPA to develop a RM1.04b phosphate plant.

2014

Signed EPC agreement for new cement grinding plant

Share Price Performance

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High Low 2014 RM 4.72 RM 1.47 2015 RM 4.79 RM 3.87

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Section 3

Business Overview

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1. Cement Division Largest group PBT driver (33% of revenue; 35% of

PBT in FY2014).

Sole cement & clinker manufacturer in Sarawak.

Well positioned to leverage on increased construction activities in the state.

Sarawak’s sole cement manufacturer with a 1.75m Mtpa capacity, exceeds 2013 demand of 1.67m MT.

78% utilsation rate from 2009 – 2011, expected to run at 90+% capacity in 2012 – 2015.

Future plans: To setup a 4000T silo and refurbish jetty at Pending plant. To build a new 1m MTpa plant in Mambong by 1Q 2016 to meet increasing demand. Also to add a packing machine .

Sarawak’s sole clinker manufacturer with reserves of 50+ years.

Sole 0.88m MTpa plant is currently fully utilised.

Upgraded plant runs on cheaper coal alongside a 10+% capacity expansion.

Future plans: Assess option of 2nd clinker line for total self sufficiency and marginal exports.

Clinker

Leading manufacturer of pre-cast concrete products and ready mix supplier

70k MTpa facility for concrete products, running at 50-60% utilisation rate.

75k MTpa IBS plant with an 82% utilisation rate.

Provides installation services for IBS products

Future plans: Increase IBS and concrete products. Possible second IBS plant and a permanent ready-mix plant in Samalaju

Cement Concrete Products

400 445 523 515 548

80 101 66 97 120

0

200

400

600

2010 2011 2012 2013 2014 Revenue PBT

RM m

illio

n

Cement

21

Cement Supply & Demand in Sarawak

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NOTES 1) All cement imports were (& will continue to be) by CMS Cement

with negligible profit contribution.

2) Production assumes the new Mambong mill comes on stream by 1Q 2016.

3) Sales projections are based on recent revisions following demand levels in 2014 & cement usage updates for major projects, especially dams.

4) Cement exports are on a token scale to Kalimantan & Sabah, though long term Kalimantan has potential to grow due to on-going cement shortages.

Local demand to outgrow local cement production between 2012 – 2014 where the existing plants are expected to run close to maximum capacity (c.90%+).

Local production expected to meet local demand in 2016 with the new Mambong plant coming on stream.

300

310

320

330

340

350

360

370

2008 2009 2010 2011 2012 2013 2014

RM p

er M

T

Average Cement Retail Selling Price

Kuching Bintulu Miri

2. Construction Materials & Trading

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Sebanyis Quarry Pulled wires

Typical plant

5 quarries in Kuching with licences of up to 20 years.

3.15m MTpa of rated capacity, or an equivalent 35% market share.

In progress: Production capacity at Sibanyis to increase by 50% to 900,000 MT per annum by 2Q 2015.

Future plans: Identify potential quarries in the northern region and develop additional wharf facilities to improve transportation.

8 plants in Kuching, Sarikei, Sibu, Miri, Bintulu and Limbang to manufacture, deliver and lay Premix (asphaltic concrete), bitumen emulsion & cutback bitumen for use in roads and airport runways.

Capacity: 2 plants have rated capacities of 250 MTph, 2 of 150 MTph, 2 of 100 MTph or below and 1 mobile plant with capacity of 100 MTph. Market share of 60-70%.

Future plans: Purchase two more 150 MTph mobile premix plants to meet the increasing demand for premix in Sarawak; new surfacing technologies.

Wires One 5,500 MTpa plant manufacturing steel

wires and wire mesh; Utilisation rate: 80+%; Market share: 20%

Rated Capacity: 5,500 MTpa Future plans: Upgrade its Machines in 2015

to improve efficiency and productivity.

Trading arm Trades as agent / distributor;

Range of water management products, construction materials & systems, road management products, building protection systems, petroleum products and others

Quarries Premix Wires & Trading

One of the core revenue and earnings drivers.

Accounted for 36% of group revenue and 22% of earnings in FY2014.

Complementing cement, construction and property development divisions.

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274 222

281 393

599

37 25 41 55 76

0

200

400

600

800

2010 2011 2012 2013 2014

RM m

illio

n

Construction Materials & Trading

Revenue PBT

23

3. Construction & Road Maintenance

Undertakes construction, road & infrastructure projects (including specialist pavement laying). Holding concessions till 2017-2018 to maintain

680km approx of the Federal roads and 5,400km of the State roads. Original role as a “cartel” breaker has expired

and now following new strategies: • bid in consortiums to harness multiple

competencies and to manage risks; and • Targets smaller scale non tendered road

works. • Focuses on niche construction projects e.g.

construction and water projects Future plans: To ensure the 2 key PBT anchors

namely the State & Federal Road Concession contracts are renewed & expanded in scale/scope.

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Jalan Mulukun, Kapit Road repairs

Strong recurring income from the road maintenance concessions.

Borneo Convention Centre Kuching

Note: Included in 2011 a gain on acquisition of RM11.42mn.

75

185 235

289

364

40 69 81 95 84

0

100

200

300

400

2010 2011 2012 2013 2014

RM m

illio

n

Construction & Road Maintenance

Revenue PBT

4. Property Development

25 Potential growth to be unlocked from the vast undervalued development land bank

Owns 2 large Kuching land banks & other small parcels (5,600 acres in total)

Strong potential for long term sustainable growth with ongoing steady land sales to underpin profits and to catalyse development of remaining parcels.

166

103

60 75

114

2 3

24 31 46

0

20

40

60

80

100

120

140

160

180

2010 2011 2012 2013 2014

RM m

illio

n

Property Development

Revenue PBT

Development of Landbanks in Kuching, 2013 - 2018

Location

% owned

by CMSB

Acres Est. GDV

2013 – 2018 (RM million)

Acres developed

(2013- 2018)

Type of Development

Land Sales (2013 – 2018)

Acreage RM mil

Bandar Samariang Phase 1 (balance) & Part of Phase 2

100% 4,211 474 155 Mixed use – mid income 635 67.2

The Isthmus *51% 199 511 55 Mixed use – new CBD 5.0 9.9

Lot 9244 100% 19 262 19 Semi Detached, Condominiums - -

Lane Park Residences 100% 3.5 26.5 3.5 Boutique high end

Semi-Detached - -

Bintawa Lot 622 *51% 8 80 8 Commercial - -

Bintawa Lot 2520 & 2521 *51% 35 350 35 Commercial with river

frontage - -

Toll Bridge land Lot 9882 100% 8 150 8 Mixed use – prime

river frontage - -

TOTAL 4,510.9 1,853.5 283.5 640.0 77.1

26 NOTE: Minority shareholder is Sarawak Economic Development Corporation (SEDC)

5. Strategic Investments - Listed

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Both strategic investments have strong growth potential with value added by CMS and are not earmarked for divestment or takeover.

Concrete product manufacturing plant

K&N

Ken

anga

• New management team installed in 2011 who revamped the business and changed its focus to more profitable areas.

• One of top three largest brokerage houses in Malaysia, KIBB has one of the largest pools of remisiers in the country and an extensive branch network nationwide.

• In 2014, KIBB was named Malaysia’s Top Retail Broker by Bursa Malaysia in line with its contribution and performance in 2013.

KKB

Engi

neer

ing • Expansion into O&G are likely to create

new material growth opportunities.

• Strong pickup of contract flow with approx. RM343 million worth of contracts secured in 2012.

• Secured a three-year Petronas-Approved Supplier licence for “Offshore facilities Const-Major Onshore Fabrication”

25.07% 20.05%

Market Value as of 10/4/2015: RM112.85 million

Market Value as of 10/4/2015: RM77.00 million

Financial Services

Education

6. Strategic Investments - Unlisted

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TUNKU PUTRA SCHOOL • Started to support state development, modest cash losses and moving

into breakeven.

• Exam results continue to be in the top bands for International schools

• Caliber & numbers of experienced expatriate teachers increased so as to expand range of subjects, extra curricular activities & standards generally

• Student numbers expected to rise going forward

CMS OPUS • Operationally profitable and fund under management (FUM)

increased from RM75 to RM291m.

• In 2013, the Company successfully established its third fund called COPE Opportunities 3 (COPE 3) through the Ekuinas 2nd Tranche Outsourced Fund Managers (OFM) Programme

• The Fund is expected to pursue minority stakes in growth companies where it will serve as an active shareholder with a clear proposition to add value.

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SCORE - Background One of the 5 development corridors by the Federal and Sarawak State

Government to turn Sarawak into a developed state by 2020. To lift the Sarawak’s economy by increasing income per head and improve the

quality of life for the people of Sarawak. Core ~ energy resources: Hydropower (28,000 MW), coal (1.46 billion MT) and

natural gas (40.9 trillion sq cubic ft).

Source: ADL Analysis, EPU Sarawak

Expected investment of up to RM334 billion (20% from govt. and 80% from private sector).

CMS is set to be a major local participant of developments under SCORE.

Key Projects at Samalaju Industrial Park

Project Product Commencement of Operation Annual Capacity Investment

Value (USD)

Tokuyama Polycrystalline Silicon 1st Phase: Jun 2013 2nd Phase: Apr 2014

1st Phase: 6,200 MT 2nd Phase: 13,800 MT 2.5 billion

Press Metal Aluminium Sep 2012 1st & 2nd Phase: 440,000 MT Full Capacity: 760,000 MT >1 billion

AML (Pertama Ferroalloy) Manganese Ferroalloy 1st Phase: 2H 2015 Full Capacity: 434,000 MT 325 million

Asia Advanced Materials Metallic Silicon 1st Phase: 1H 2014 Full Capacity: 100,000 MT 203 million

Sakura Ferroalloys Ferro manganese & Silicon Manganese 2H 2015 Ferro Manganese: 100, 000 MT Silicon Manganese: 60, 000 MT 328 million

Cosmos Chemicals High quality solar and electronics grade polysilicon 2016 25,000 MT 1.6 billion

OM Materials (Sarawak)

Ferrosilicon Alloys (1st Phase) Manganese Ferroalloys & Sintered

Manganese Ore (2nd Phase)

Commission: 2H 2014 Full production: 2H 2015

1st Phase: 308,000 MT 2nd Phase: 200,000 - 300,000 MT 592 million

MPA (Sarawak) Phosphate Products & Coke Commission: 2H 2017 Full production: 2H 2018

Phosphate Products: 500,000 MT Coke: 450,000 MT 440 million

30

7. Samalaju Development

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Currently CMS’ direct involvement covers: Workers accommodation and related

services; planned new Township and service centre;

and investments in 2 energy intensive industrial

plants in SIP.

Note: Loss in 2011 due to a RM25.19m write off of expenses on the cancelled Salco aluminium smelter project. PBT would have been RM13.52 million excluding the write off.

72 113

14 25 27

9

-20

0

20

40

60

80

100

120

2010 2011 2012 2013 2014

RM m

illio

n

Samalaju Development

Revenue PBT

Samalaju Light

Industrial Park

Tanjung Samalaju

Resort Hotel

Samalaju Properties’ Landbank covers 1. Approximately 2130 acres earmarked for the Samalaju Eco

Park development – a first of its kind green township development with a mix of residential and commercial developments

2. 81 acres for Samalaju Central – a mix of commercial, and industrial lots at the heart of the industrial park

3. 98 acres of prime beachfront land, of which 23 acres has been allocated to the construction of Tanjung Samalaju Resort Hotel, with the remainder to be used to develop industrial training centres, and mix use commercial developments.

4. Approximately 191 acres earmarked for the development of a Light Industrial Park to house small and medium sized businesses providing downstream activities

Samalaju Property Development

Key Highlights Operating the only Government approved

workers, supervisors & executive camps in Samalaju.

The provision of accommodation and meals

is expected to continue for up to 10 years pending completion of the planned permanent township.

Samalaju permanent township of approx

2,130 acres is expected to be developed on a fast track basis.

A Hotel / Serviced Units of 175 rooms

expected to be operating by 1H 2015

28/04/2015 32

Workers Lodge

Laundry Service

Eating Area

28/04/2015 33

Samalaju Development – OM Materials (Sarawak)

Sharehol-ders

CMS (25%) OM Holdings Ltd (75%), ASX listed & one of the world’s largest manganese ore producers

ForecastedPlant Capacity

Phase 1: Ferrosilicon Alloys (FSA), 16x25.5MVA, 308,000 MTpa Phase 1 to expedite project cash flows by fast-tracking higher margin FSA production Phase 2: Manganese Ferroalloys and Sintered Manganese Ore, 300,000 MTpa

Cost/ Funding

Phase 1 Capex USD 398m + USD 26m = USD 424m. 70% debt USD 295m + USD 20m cost overrun facility = USD 315m 30% equity USD 129m, CMS share USD 25.8m Phase 2 Capex estimated to be USD 150m – funding, timing, offtake and project optimization being done

Project Finance (Phase 1)

Commitment letters signed for USD 315m, USD 215m and MYR 310m plus MYR 126m performance and payment securities, Facilities Agreement with syndicate of 4 major regional and international banks signed on 28 March 2013

Key Dates Phase 1 production ramp up H2 2014 and full production H2 2015

34

Samalaju Development – OM Materials (Sarawak) S/B

Logistically well located with the planned Samalaju port providing convenient access to growing Asian FA markets.

20 year 500mw Power Purchase Agreement already signed underpinning smelter’s competitive cost position.

Part of a well established vertically integrated business of OM Holdings Ltd.

Tried & tested technology & lump sum turnkey EPC with expected LAD for delays or performance shortfalls.

Binding Off-take arrangements signed with JFE Shoji, Hanwa and Fesil Sales AS exceed 60% off-take of the project’s Phase 1 production.

OM Sarawak’s position on the operating cost curve places it amongst the most competitive in 2015 on a CIF Japan basis.

Steel production to grow at CAGR of 4.54% up to 2025 (which will feed through to FA demand), with projected production levels are likely to be remain below demand.

Key Economic

Drivers

10-year tax holiday and no import and/or export duties drives the competitive advantage further

28/04/2015 35

Samalaju Development – Malaysian Phosphate Additives (Sarawak)

Shareholders CMS (40%) Malaysian Phosphate Additives Sdn Bhd (40%), Phosphate producers since 2005 and have

successfully developed and commercialised its process technology for the manufacture of Phosphate products at their manufacturing facility in Lumut Port Industrial Park

Arif Enigma Sdn Bhd (20%)

Power 150 MW

Plant Capacity Phosphate products: 500,000 Mtpa and Coke: 450,000 MTpa

Cost/ Funding Total investment is RM 1,040 million 70% project financed debt of RM 728m 30% equity of RM 312m and CMS’ share is RM 125m

Project Finance In active discussions with major local financial institutions to select arrangers & line up lenders

EPC Construction will be on lump sum EPC basis by suitably experienced EPC contractors with some nominated sub-contractors/suppliers. Pre-tender discussions are ongoing

Off-take & Raw Materials

Plan to sign long term commitments for 60% of each. This is progressing on schedule

Key Dates Production start in H1 2017 and full production H2 2018

36

Samalaju Development - Malaysian Phosphate Additives (Sarawak)

Logistically well located directly across from Samalaju Port with conveyor belts and pipelines to transport raw materials and finished goods.

Access to competitively priced reliable & long-term (20 years) power underpins the competitive cost in production for Phosphate.

Agreements for key raw materials supply and production offtake are under negotiation to be signed up for approximately 60% of each.

Diversifies CMS’s manufacturing business into a new segment with long term sustainable growth & future downstream investment opportunities

Integrated Phosphate products complex enables a variety of phosphate products beyond the primary product to be produced so production can switch between products to maximize margins

Global demand for Phosphate products set to grow 2+% per annum reflecting both population growth, higher affluence & lack of alternative products. This will grow demand for animal feed, fertilizer, processed foods/beverages & detergents/cleaning materials.

Key Economic

Drivers Strong potential to attract downstream industries targeting both Malaysian & export markets in Food, Fertiliser, Feed & Detergent segments who can reduce manufacturing costs by switching to MPA’s locally produced phosphate products. This locks in long term demand

10-year tax holiday and no import and/or export duties drives the competitive advantage further

37

Section 4

Financial Highlights

28/04/2015

Group Financials

28/04/2015 38

2006 2007 2008 2009 2010 2011 2012 2013 2014

Revenue (RM’000) 794,844 871,793 893,033 874,600 943,476 1,012,609 1,203,565 1,416,841 1,693,898

PBT (RM’000) 52,165 (48,018) 150,570 98,526 118,796 178,715 226,906 294,894 341,452

PATNCI (RM’000) 6,865 388,165 95,770 40,989 65,781 120,023 135,735 175,072 221,335

S/holders’ funds

(RM’000) 851,478 1,238,247 1,248,825 1,277,970 1,312,667 1,416,025 1,480,923 1,654,117 1,811,732

ROE (%) 0.81 37.15 /

(2.27) 7.70 / 4.51 3.24 5.08 8.80 9.37 11.17 12.77

Borrowing (RM’000) 608,114 678,303 649,767 534,236 394,586 215,747 89,826 100,102 104,796

Gearings ratio

(times) 0.71 0.55 0.52 0.42 0.30 0.15 0.06 0.06 0.06

EPS (sen) 2.08 117.82 29.07 12.44 19.97 36.43 41.39 52.56/ 17.46 21.42

Cash (company) (RM’000)

88,606 626,190 322,086 404,726 753,990 625,542 493,129 579,392 674,600

Group Key Financials 2010 to 2014

39

Revenue ’10 - ’14 CAGR = 15.4% PBT ’10- ’14 CAGR = 30.1%

*Adjusted for share split & bonus issue in June 2014

19.97

36.43 41.39

17.52 21.42

5.08%

8.80% 9.37%

11.17% 12.77%

-1%

1%

3%

5%

7%

9%

11%

13%

0

10

20

30

40

50

2010 2011 2012 2013* 2014 EPS ROE

RM se

n

1,313 1,416 1,480 1,654

1,812

773 650 524 614

830

395 216 90 100 105

0.3

0.15

0.06 0.06 0.06

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2010 2011 2012 2013 2014

times

RM m

illio

n

Balance Sheet

S/holders’ funds Cash Borrowing Gearings

943 1,013 1,203

1,417 1,674

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2010 2011 2012 2013 2014

RM m

illio

n

Revenue

1,417

119 178

227 295

341

12.6%

17.6% 18.9%

20.8% 20.4%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

0

100

200

300

400

2010 2011 2012 2013 2014

RM m

illio

n

PBT & PBT Margin

PBT PBT Margin

Revenue Breakdown

28/04/2015 40

400 445 523 515 548

274 222

281 393

599

75 185

235

289

[VALUE]

166 103

60

75

114

- 26

72

113

15

28 32

33

32

34

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2010 2011 2012 2013 2014

Revenue by segment (RM'm)

Others

Samalaju Development

Property Development

Construction & Road Maintenance

Construction Materials & Trading

Cement

42% 44% 43% 36% 33%

29% 22% 23% 28% 36%

8% 18% 20% 20% 22%

18% 10% 5% 5%

7% 6% 8% 1%

3% 3% 3% 2% 2%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2010 2011 2012 2013 2014

Revenue by segment (%)

PBT Breakdown

28/04/2015 41

80 101

66 97

120

37 25

41

55

76

40

69 81

95

84

2

3 24

31

46

(1) (12)

25

27

9

(39) (8)

(11) (10)

5

(50)

-

50

100

150

200

250

300

350

2010 2011 2012 2013 2014

PBT by segment (RM'm)

Others

Samalaju Development

Property Development

Construction & Road Maintenance

Construction Materials & Trading

Cement

67% 57%

29% 33% 35%

31% 14%

18% 19%

22%

34% 39%

36% 32%

25%

2%

1%

11% 11%

13% 11% 9% 3%

-33% -4%

-5% -3%

2%

-30%

-10%

10%

30%

50%

70%

90%

2010 2011 2012 2013 2014

PBT by segment (%)

Dividend Policy

Dividend policy since November 2014 is a minimum of 40% PATNCI, subject to minimum of 2 sen per share and other considerations.

42

Net Payout Ratio = Percentage of PATNCI paid out in dividends to shareholders

5 15 17 17 8.5

37.6

30.9 31.3

30.9

40

0

5

10

15

20

25

30

35

40

45

0

2

4

6

8

10

12

14

16

18

2010 2011 2012 2013 2014*

Net

Pay

out R

atio

(%)

DPS

(Cen

t)

Gross DPS and Net Payout Ratio (%)

Ordinary Dividend Special Dividend Net Payout Ratio (%)

* Following the payment of an interim dividend of 1.5 sen per share of RM0.50 each, the BOD has proposed to declare a final tax exempt (single-tier) dividend at the coming AGM of 7.0 sen per share of RM0.50 each

43

Section 5

Corporate Social Responsibility & Governance

28/04/2015

CSR & Governance

CSR

Year round staff volunteerism in multiple staff-led projects have built respect for CMS within the local community and made staff feel more engaged.

Donations & sponsorships – focused within Sarawak. CMS compassionate fund donates to staff and their families in urgent need.

Safety – strong focus on this in every way including groupwide KPI demerit system.

Governance

Never reprimanded by the regulators i.e. Bursa.

Plans in hand to comply with the new 2012 Bursa Corporate governance rules.

28/04/2015 44

45

Section 6

Group Strategies & Going Forward

28/04/2015

Group Strategies And Going Forward

Solid & sustainable

profits

Strong balance sheet &

financially prudent

Experienced Management

Team

Corporate Governance

Growing community

respect

Supportive s/holders &

bankers

Private sector driven

profitability

SCORE play

Growing of exportable expertise

28/04/2015 46

THE 9 POINT SCORE CARD

2013 Malaysian GDP growth tops estimate at 4.5%.

Sarawak is more insulated from external downturns & turmoil due to the long term nature of its economic drivers in SCORE.

Sarawak’s GDP grew by 4.5% in 2013 and is expected to register accelerating growth fuelled by SCORE.

47

Group Strategies and Going Forward

Riding on the Sarawak Growth Story Investment in projects:

Hurdle rate / IRR: At least 18%;

Scaleable / long term sustainability;

Quality partners / JVs;

Raw materials processing / manufacturing and/or infra / services focus.

Maximise our core business divisions & our Strategic Investments to take advantage of Sarawak’s growth.

An indispensable ally to its State’s development regardless of politics – thru professionalism and neutrality.

Be known for our Corporate Governance, Sustainability & Management Competency.

Acquire expertise / knowledge for regional expansion outside Sarawak later.

To maintain a moderate risk profile

Strategies

Be the best proxy investment for Sarawak’s accelerating growth via:

Energy intensive industry investments; and

consequential infrastructure and related services required across the State.

Conclusion

28/04/2015 48

Cement & Construction

Materials

• Largest Bottom Line Contributor

Construction & Road

Maintenance

• Steady Recurrent P&L

Property Development

• Undervalued Land Banks

• Prime Lands

Strategic Investments Robust Financials

• Strong Cash Balance

• Low Gearing

Management, Staff &

Processes

• Proven

• Engaged

• Has Bandwidth

Samalaju

• Township • Workers

Lodge

• Develop-ment

Strategic Investments

• OM

• MPA

• Others TBA

KKB

• Ongoing Growth Potential

• O&G

K&N

• Bottom Line Contribution Potential

To Join the RM6 Billion Market Caps Club & Malaysia’s Top 50 Listed Companies

The Confident Company Leveraging on Sarawak’s Growth Story

28/04/2015 49

THANK YOU.

ANY QUESTIONS?