Investor Presentation

Review of Q4 FY2020

Version 1.0

This Investor Presentation should be read in conjunction with the JKH Annual Report 2019/20 to obtain a more comprehensive understanding of the drivers and strategies of our businesses

About JKH

Market cap of USD 0.80 billion

No controlling shareholder - 99% free float

Debt : Equity ratio of 41.4%*

The Board comprises of two Executive Directors and five Independent

Non-Executive Directors

2

*Debt includes the Right-of-Use assets due to the accounting impacts of SLFRS 16 – Leases. The debt to equity ratio excluding SLFRS 16 - Leases is 32.7%.

Portfolio profitability

Note: The above excludes the contribution from Other including Information Technology and Plantations Services

PAT attributable to equity holders

2017/18

The Group is conscious of the composition of its earnings and targets a greater contribution from higher ROCEearning industry groups such as Consumer Foods, Retail and Financial Services. Approximately 50 per cent ofearnings are contributed from these businesses.

2017/18 excludes the one-off surplus transfer of Rs.3.38 billion at Union Assurance PLC Earnings of the Sri Lankan Leisure businesses in 2019/20 were significantly impacted by the Easter Sunday

attacks in April 2019 and resultant impact on tourist arrivals to the country. Performance was further impactedfrom the fourth quarter onwards with the global outbreak of the COVID-19 pandemic

3

2018/19

22%

11%

8%

20%

5%

33%

2019/20

36%

10%4%

16%

1%

33%54%

18%13%

-17%

4%

29%

Transportation

Consumer Foods

Retail

Leisure

Property

Financial Services

COVID-19 – impact to Sri Lanka and JKH

Sri Lankan Context

• Following the diagnosis of COVID-19 patients in Sri Lanka, the Government declared an island-widecurfew, imposed from 20 March 2020 onwards. Restrictions were waived only for services classifiedas 'essential’.

• Curfew has been gradually eased off in many parts of the country, except for two high risk districts,including the Colombo district. The most recent release by the Government states that curfew in thetwo districts will remain, with restrictions being eased off during the day for the gradualcommencement of economic activity by the public and private sectors.

• With the resumption of activity across the country post the easing of curfew restrictions, the Groupis seeing early signs of an encouraging recovery of consumer activity which should be positive forconsumer-focused businesses such as Consumer Foods, Retail, Logistics and Insurance.

• It is encouraging that there is no indication of community spread in the country.

4

COVID-19 – impact to Sri Lanka and JKH

Group response:

• In order to evaluate the financial position of each business, particularly over the next 12 months,each of the businesses were stress-tested under multiple operating scenarios, and, subsequently ata Group consolidated level, to ascertain the impact on the ability to sustain its operations with itscash reserves and banking facilities in place.

• Whilst the assumptions vary across the businesses, the Group is satisfied of the ability of thebusinesses to manage its operations even under an extreme stress-tested scenario.

• Whilst the short-term impact to the Group performance is expected to be significant, the Group hasundertaken various measures to ensure a sustainable and agile operating model, with a focusedview on cash management and liquidity, in particular.

• The Group has evaluated all health and safety guidelines issued by the Government as well asinternational best practice to ensure suitable working arrangements and safe conditions foremployees, customers and other stakeholders.

• With the easing of restrictions, we have seen a smooth transition with the resumption of businessactivity where we are already seeing a positive momentum.

5

Cumulative EBITDA : for the year ended 31 March 2020

Total EBITDA 22,174 25,798 (14)

Recurring EBITDA** 22,055 25,579 (14)

Recurring EBITDA excluding Leisure*** 19,714 20,278 (3)

**Refer page 38 of the JKH Annual Report 2019/20 for commentary on recurring adjustments***Leisure is excluded due to the impacts of the Easter Sunday attacks

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Industry GroupFY2020 FY2019* YoY Growth

(%)(Rs. Million) (Rs. Million)

Transportation 4,417 4,563 (3)

Consumer Foods 3,412 2,920 17

Retail 5,110 2,890 77

Leisure 2,363 5,354 (56)

Property 568 323 76

Financial Services 2,988 3,359 (11)

Other, incl. IT and Plantation Services 3,315 6,388 (48)

*Note that the FY2019 EBITDA is adjusted to reflect impact from SLFRS 16 - Leases, for comparison purposes

EBITDA : for the quarter ended 31 March 2020

7

Industry GroupQ4 FY2020

(Rs. Million)Q4 FY2019 * (Rs. Million)

YoY Growth (%)

Transportation 952 1,290 (26)

Consumer Foods 1,111 1,105 1

Retail 1,421 1,060 34

Leisure 1,933 2,502 (23)

Property 497 188 164

Financial Services 833 1,185 (30)

Total EBITDA 8,104 7,541 7

*Note that the FY2019 EBITDA is adjusted to reflect impact from SLFRS 16 - Leases, for comparison purposes

While the performance of the Group initially witnessed strong momentum in the fourth quarter ofthe financial year 2019/20, the outbreak of the COVID-19 pandemic had varying levels of impact onthe performance of the businesses. This is discussed further in the ensuing slides.

Adjusted effective capital employed (Rs.bn)

Portfolio evaluation 2019/20; returns vs. effective capital deployed

8

Adjusted ROCE (%)

Consumer Foods - 23%

IT - 23%

Transportation - 19%

Retail - 16%

Financial Services - 15%

Property (Excl. Cinnamon Life) - 2%

Cinnamon Life – (0.1%) Plantations – (0.2%) Leisure – (1%)

Industry group Effective capital employed (%)

Cinnamon Life 32Leisure 24Property (Excluding Cinnamon Life) 8Transportation 7Financial Services 6Retail 6Consumer Foods 3Plantations 1Information Technology 1

In addition, the Holding Company accounts for 12 per cent of effective capital employed which consists primarily of cash

Hurdle Rate - 15%

Transportation - overview

42% stake in SAGT

SAGT capacity: ~2 million TEUs

Largest cargo and logistics service provider in the country

Leading bunkering services provider

Joint Ventures with Deutsche Post for DHL air express and A P Moller for Maersk

Lanka

GSA for KLM Royal Dutch airlines and Gulf Air.

Other operations include warehousing and supply chain management.

9

KARACHIGWADAR

BAHL

MUMBAI

CHENNAI

VISHAKHAPATNAMKOLKATA

CHITTAGONGYANGON

MOMBASA

LAMU

DAR-ES-SALAM

CAPE TOWN

PORT LOUIS

ADEN

KOCHI

The strategic location of the Port of Colombo linking key shipping routes

10

Capacity enhancements in the Port of Colombo

11

• CICT - Colombo International Container Terminal• ECT - East Container Terminal• SAGT - South Asia Gateway Terminal• JCT - Jaya Container Terminal

Sustained volume growth in the Port of Colombo

12

4.31

4.91 5.19

5.74 6.21

7.05 7.23

-

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

2013 2014 2015 2016 2017 2018 2019

Mill

ion

TEU

s

Port Container handling capacity (TEUs)

Colombo 8 million

Hong Kong 21 million

Singapore 40 million

Shanghai 36 million

Sources: Government websites/ Sri Lanka Ports Authority

Rapid absorption of capacity in the Port of Colombo

13

4Q FY20 earnings update: Transportation industry group

• LMS recorded a strong growth in profits driven by improved margins.

• SAGT became liable for corporate income tax from October 2019 onwards, thereby negatively impacting performance as the Group recognises its share of profit after tax of SAGT as an equity accounted investee.

(Rs. mn) Q4 2019/20

Q4 2018/19

EBITDA 952 1,290

Volumes (TEU)

2018/19 2019/20 % YoY ChangeQ4 Q1 Q2 Q3 Q4

SAGT 514,589 535,998 492,542 509,012 528,641 3%

JCT 607,913 561,897 580,747 532,052 548,944 -10%

CICT 668,230 702,745 763,123 759,448 726,303 9%

Total 1,790,732 1,800,639 1,836,411 1,800,512 1,803,888 1%

SAGT2018/19 2019/20

Q4 Q1 Q2 Q3 Q4Domestic: Transshipment volume mix

21:79 19:81 19:81 19:81 20:80

Opportunities for growth in the Bunkering businesses

Bunkering Business (Lanka Marine Services)

Port of Hambantota

Strong opportunities for private bunkering service providers with infrastructure in place for inland storage of petrochemicals and a pipeline to the Port

The Port will occupy an area of 1,815 hectares and have a capacity to accommodate 33 vessels at a time

Positioned within 10 nautical miles of the world’s busiest shipping lanes in which 200 to 300 ships sail through on a daily basis

Logistics Business (John Keells Logistics)

Total warehouse space under management grew to approx. 318,000 sq.ft. in the year 2019/20, at a capacity utilisation of 96 per cent.

14

LMS2018/19 2019/20

Q4 Q1 Q2 Q3 Q4

Volume growth 9 (4) (16) (6) (8)

Consumer Foods - overview

Market leader in soft drinks, ice creams and processed meats Custodians of the consumer brands “Elephant House”, “Keells - Krest”: high brand

equity

Key performance indicators (%) FY2017 FY2018 FY2019 FY2020

Growth of frozen confectionery volumes 11 (4) 10 3

Growth of beverage volumes 10 (16) (25) 7

Growth of convenience food volumes (4) 3 7 (0)

EBITDA margin (%) 27 20 18 20

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4Q FY20 earnings update: Consumer Foods industry group

*Adjusted for SLFRS 16 – Leases, for comparison purposes

• The Beverages and Frozen Confectionery businesses recorded an improvement in performance driven by an expansion of margins due to a better sales mix.

• Both businesses recorded encouraging volume growth in the months of January and February, where volumes grew approximately 20%-30%, on average.

• However, the imposition of island-wide curfew due to the COVID-19 pandemic caused disruptions in sales in the last 2 weeks of March 2020, which is a peak sales month, resulting in a steep decline in volumes, thereby impacting overall volumes for the quarter.

(Rs. mn) Q4 2019/20

Q4 2018/19*

EBITDA 1,111 1,105

Key performance indicators (%)FY2019 FY2020

Q4 Q1 Q2 Q3 Q4

Growth of frozen confectionery volumes 21 19 1 4 (12)

Growth of beverage volumes (6) 22 2 4 1

Growth of convenience foods volumes 1 (2) 0 7 (9)

EBITDA (Rs. million) 1,103 843 736 722 1,111

EBITDA margin (%) 24 19 17 18 26

Revenue mix (Bev:FC) 49:51 48:52 48:52 44:56 51:49

• Annual volume growth in the Consumer Foods businesses was impacted as a result of the disruptions to sales in March 2020 due to the COVID-19 pandemic.

• The relative impact on volumes in March is more pronounced given the seasonality associated with the Beverages and Frozen Confectionery businesses, where sales peak due to the traditional New Year in April.

Low consumption patterns and penetration reflects potential for sustained growth

The bulk-impulse mix of regional markets ishighly skewed towards the impulse markets,demonstrating the significant growth potentialfor the impulse category.

To leverage on the opportunity available in theimpulse category, CCS invested in a state-of-theart ice cream plant in Seethawaka whichcommenced operations in Q1 FY2018/19.

CCS reformulated its flagship flavours andcurrently, approximately 70 per cent of the CSDportfolio’s calorific sugar content isreformulated and replaced with Stevia; anatural sweetener with zero calories.

CCS also launched non-CSD products such asplain milk, flavoured milk and water brandedunder Elephant House, and additional flavoursof fruit juice branded under “Fit-O”)

Sri Lanka Thailand Malaysia

70%30%

8%92%

56%

44%

Bulk vs. Impulse Split - Regional

Impulse Bulk

16

52.0

39.0

31.4

19.0

14.0

Philippines Thailand Singapore Malaysia Sri Lanka

Carbonated Soft Drinks - Per Capita Consumption (Litres)

Sources: Central Bank of Sri Lanka, Nomura Research Institute, Unilever Corp, Web articles

70

49 48 43 40

16

Singapore Malaysia HongKong

Taiwan Thailand Sri Lanka

Modern Retail Penetration (%)

Retail - overview

Present share of modern retail No. of outlets

Keells * 109

Cargills 410

Arpico 47

Laugfs 37

* As at 31 March 2020

The Retail industry group consists of two business verticals; Supermarkets Office Automation

“Keells” is a chain of ~10,000 square foot modern grocery retail outlets

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Comparatively higher modern trade density – population per store ratios as against regional peers

High potential for expansion due to lower penetration of modern trade in Sri Lanka

Whilst approximately 200-225 outlets are expected by FY2022/23, considering the significant disruption to operations in the current operating environment, the planned outlet roll-out has been temporarily suspended and will be re-evaluated once operations settle.

132

47

30

21.0

7.3

4.7

4.5

3.7

3.6

3.4

3.0

2.5

1.9

0.9

Modern trade density – population (’000) per store

Source: Retail and shopper trends in the Asia Pacific, AC Nielsen

Keells current coverage

Rapid expansion to capitalise on low retail penetration levels

18

Supermarkets - overview

19

Profitability margin (%)

FY2017 FY2018 FY2019 FY2020

EBITDA (Rs.milllion) 2,010 1,975 1,623 4,267

EBITDA margin 6.7 5.3 3.6 7.8

EBIT margin 5.7 4.0 2.0 4.6

4Q FY20 earnings update: Retail industry group

*Adjusted for SLFRS 16 – Leases, for comparison purposes

• The Supermarket business recorded a strong performance driven by growth in same store sales and a notable contribution from new outlets.

(Rs. mn) Q4 2019/20

Q4 2018/19*

EBITDA 1,420 1,060

Key performance indicators (%)

FY2020

Q4 Q1 Q2 Q3 Q4

Same store sales growth

4.5 3.6 5.1 5.4 1.7

Same store footfall growth

7.1 2 5.7 6.1 (6.2)

Average basket value growth

(2.4) 1.6 (0.6) (0.6) 8.4

EBITDA margin 5.0 7 .0 6.3 9.0 8.8

• Same store sales recorded an encouraging growth of 5.7 per cent in January and February 2020.• However, a steep decline in same store sales was recorded in March due to the imposition of curfew which

resulted in outlets being closed during the latter half of March 2020, which is a peak sales month.• ABV growth was flat throughout most of the year and was skewed primarily as a result of the effect of

customers stockpiling grocery items in the latter half of March 2020.• While customers transitioned to online channels, this shift was inadequate to cater to the loss of footfall to

outlets. With the easing of curfew restrictions, sales have rebounded.

Leisure - overview

Chain of Resort hotels in Sri Lanka

‾ 8 Resort hotels in strategic tourist destinations (1,022 rooms)

‾ 10% of the country’s 4-5 star class tourist accommodation

2 five star city hotels in Colombo (847 rooms)

240 roomed lean luxury hotel managed by Cinnamon; “Cinnamon red”

4 Resort properties in the Maldives (454 rooms)

Established hotel brand – “Cinnamon”

Leading inbound tour operator in Sri Lanka

Tour operator partners include global players such as Kuoni, Hotel Plan and Virgin

Holidays

20

Greater focus on asset light investment models as a part of the

strategy to enhance the ‘Cinnamon’ footprint in Sri Lanka

Land bank of 173 acres of freehold and 127 acres of leasehold

land in addition to 517 acres of leasehold land in Digana

Of the total freehold land acreage owned, a total of 96 acres

of freehold land are in key tourist hotspots:

Ahungalla (Southern Province) : 10.9 acres

Trincomalee (Eastern Province) : 14.6 acres

Nilaveli (Eastern Province) : 41.7 acres

Wirawila (Southern Province) : 25.2 acres

Nuwaraeliya (Central Province) : 3.4 acres

Round trip offering in key tourist destinations; further potential to expand the ‘Cinnamon’ footprint

21

*City Hotels occupancy and ARR excludes Cinnamon red

Occupancies and average room rates

22

Sector

FY2020 FY2019

Occupancy (%)

ARR (US $)

EBITDA Margin

(%)

Occupancy (%)

ARR (US $)

EBITDA Margin

(%)

City Hotels*

34 100 10.8 48 128 22

Sri Lankan Resorts

61 78 11.4 80 90 28

Maldivian Resorts

56 364 26.7 84 320 23

*Sri Lanka Resorts EBITDA includes IP gains

4Q Earnings update: Leisure industry group

*Adjusted for SLFRS 16 – Leases, for comparison purposes

• The quarter was impacted by the developments surrounding the global spread of COVID-19, derailing the momentum of recovery in arrivals from the Easter Sunday attacks.

• In addition, the quarter included the start-up costs relating to the newly refurbished premium resort in Sri Lanka, Cinnamon Bentota Beach.

(Rs. mn) Q4 2019/20

Q4 2018/19*

EBITDA 1,933 2,502

Key indicators

City Hotels ** Sri Lankan Resorts Maldivian Resorts

FY2020 FY2020 FY2020

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Occupancy (%) 14 35 43 42 46 65 76 58 55 47 56 63

ARR(US $) 123 106 93 93 72 67 70 99 325 297 357 419

EBITDA Margin (%) (34) 12 18 27 (15) 4 9 32 22 13 19 40

• The annual occupancy and ARRs in City Hotels and Sri Lanka Resorts were impacted as a result of the decline in arrivals due to the Easter Sunday attacks in April 2019. Until the outbreak of the COVID-19 pandemic, forward bookings were showing positive momentum with arrivals in line with levels seen before the Easter Sunday attacks.

YearTouristarrivals

(In 000’s)Growth (%)

2010 654 46

2015 1,798 18

2016 2,051 14

2017 2,116 3

2018 2,334 10

2019 1,913 (18)

Tourist arrivals from January – December 2019 was 1,913,702; a decrease of 18%, as compared to the 2,333,796 recorded in the comparative period of the previous year.

Arrivals for the first quarter (Jan - Mar) of 2020 was 435, 941 compared with 740, 600 in the previous year, impacted by travel restrictions on account of COVID-19 and the closure of the Bandaranaike International Airport from March 2020 onwards.

The SLTDA has initiated a two-phased post COVID-19 action plan to revive the tourism sector.

Source: Sri Lanka Tourism Development Authority

Trend of tourist arrivals to Sri Lanka

23

MonthTourist Arrivals

(In 000’s)Growth %

August ‘19 144 (28)

September ’19 109 (27)

October ’19 119 (23)

November ’19 177 (10)

December ‘19 242 (5)

January ‘20 228 (6)

February ‘20 208 (18)

March ‘20 71 (71)

-

500

1,000

1,500

2,000

2,500

1985

1987

1989

1991

1993

1995

1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

2017

2019

Annual tourist arrivals to Sri Lanka ('000)

*2010 included due to being the first full post-war year.

Source: Sri Lanka Tourism Development Authority

Significant growth in Asian arrivals to Sri Lanka

24

*2019 arrivals impacted by Easter Sunday terror attacks

-

200,000

400,000

600,000

800,000

1,000,000

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019*

Tourist Arrivals

Source: Governmental tourism websites

Tourist arrivals to Sri Lanka lag well below regional peers

25

0

5

10

15

20

25

30

35

40

45

Malaysia Indonesia Thailand Vietnam Cambodia Sri Lanka

Arr

ival

s in

mill

ions

1990 2019

60,000

31,790 30,11426,113

9,100 7,6005,019

Bangkok Manila Kuala Lampur Jakarta Ho Chi Minh Hanoi Colombo

Room inventory in Colombo lags far behind other popular regional capital cities

26

Property - overview

“John Keells Properties”; explore property development opportunities by leveraging on brand equity

Focused strategies for expansion via developer/landowner tie ups

Catering to different target market segments: Luxe Spaces Metropolitan Spaces Suburban Spaces

High-rise apartment complexes completed “7th Sense” on Gregory’s Road OnThree20 The Emperor The Monarch

“7th Sense” on Gregory’s Road

OnThree20

27

Low levels of urbanisation within Sri Lanka in comparison to regional peers

Annual condominium supply far below regional peers

Source: KL: CBRE property market outlook 1Q 2018 (forecast for 2018)HCMC: CBRE Vietnam property overview Q1 2017 (forecast for 2018)CMB: Internal Estimates (forecast for 2018)

Industry potential

28

53,796

38,000

2,187

KL Ho Chi Minh City Colombo

Annual condominium supply in regional cities

Low penetration of apartment living in Colombo

29

Source: Company analysis

10%

95%80%

60%70%

50% 55%65%

90%

5%20%

40%30%

50% 45%36%

GreaterColombo

Singapore Thailand(Central

Bangkok)

Thailand(Outskirts)

Malaysia(Central KL)

Malaysia(Greater KL)

India (Chennai) India(Bangalore)

Apartments Landed houses

Developable land bank of over 36 acres in central Colombo

Prime developable land bank of over 36 acres held in central Colombo

One of the largest privately owned land banks

Opportunities for development at land banks held in Crescat City and Cinnamon Lakeside

Vauxhall street land bank

Prime freehold land extent of 9.38 acres, to be developed with Finlays Colombo Limited

Located in close proximity to the Beira lake water front which is earmarked for development of recreational and residential projects by the UDA

30

Cinnamon Lakeside, Colombo

Vauxhall Street

Union PlaceCinnamon Grand, Colombo

Crescat Boulevard

Cinnamon Life

Developable freehold land of approximately 25 acres in close proximity to Colombo city

Greater connectivity and reduction in travel time to Colombo city post construction of the outer circular expressway

Direct connectivity to the Port City Colombo and a multi modal transportation hub to be developed

Opportunity to expand into residential apartment projects in proximity to the Colombo city

Suburban Space development

Master planning is currently underway for the 18-acre land in Thudella

The site will be developed in phases, as a fully integrated community with approximately 2,000 units.

The preliminary approvals for the development are in place, and the design work has been initiated.

31

Robust development pipeline; on-going developments

32

4Q FY20 earnings update: Property industry group

*Adjusted for SLFRS 16 – Leases, for comparison purposes

• The EBITDA of the Property industry group for the quarter includes fair value gains on investment property.

• Tri-Zen residential development project continued its encouraging sales momentum, recording sales of 19 units during the months of January and February, although March was impacted by the imposition of curfew.

• Whilst the construction sites of both Tri-Zen and Cinnamon Life were closed from the time of curfew imposition, both sites are now gradually commencing work as permitted under the relevant Government directives.

• Cinnamon Life is working closely with the contractor to understand the impact on the overall project to manage resources and deliverables.

(Rs. mn) Q4 2019/20 Q4 2018/19

EBITDA 497 188

Cumulative sales (units)Number of units sold

as at 31 March ‘20Cinnamon Life:

The Residence at Cinnamon Life 137

Suites at Cinnamon Life 110Cinnamon Life commercial complex

4 floors

Tri-Zen 262

Development Pipeline:

1. “Tri-Zen”- an 891 apartment residential development in central Colombo.

2. Revenue for Cinnamon Life will be recognized upon completion.

3. Master planning has been initiated for the jointly held 9.38-acre property in Vauxhall Street and the 18-acre site in Thudella

4. Future development of the land bank held at Rajawella Holdings Limited, as discussed in detail overleaf

Rajawella Holdings Limited (RHL)

Owners of a majority stake in RHL to complement the Group’s leisure and property portfolios

The 500 acre land in Digana includes an 18-hole, Donald Steel designed, Golf Course and developable land extent of approximately 80 acres

Currently developing the master plan to maximise the development potential of the land plot

Troon International has taken over the management of the course and the refurbishment of the course commenced in February 2018

Expected appreciation of land value with the completion of the central expressway

Development and sale of properties such as villas, club house facilities, activity zones and possible operation of a hotel in the long term

33

Robust development pipeline: Scenic 500 acre land bank with an 18-hole golf course

Cinnamon Life Integrated Resort

34

Integrated development in Colombo

35

Integrated development in Colombo

36

37

38As at March 2020

39

Conferencing ; capacity (4,837 pax) in three venues and car park facility (2,450 slots)

800 guest room hotel, including conferencing, banqueting, 7 specialty restaurants and entertainment facilities

Rentable mall and entertainment space of 372,000 Sq. Ft (Gross – 518,000 Sq. Ft)

First residential development of approximately – 358,000 Sq. Ft (231 units).

Second residential development of approximately – 255,000 Sq. Ft (196 units).

A standalone office development -254,000 Sq. Ft rentable area

Development programme

Note: Areas are subject to change based on final drawings

40

The growth in Indian MICE travel to complement Cinnamon Life

Source: MasterCard

41

1.51.63

1.781.94

2.11

2017 2018 2019 2020 2021

Indian Outbound MICE (Millions)

Union Assurance (JKH Stake : 90%)

Committed to a “digital first” business model with an investment of over Rs. 800Mn to become the largest digital insurer in Sri Lanka

Developing Bancassurance channels - UA entered into exclusive bancassurance partnerships with Nations Trust Bank PLC and Union Bank PLC

Financial Services – Insurance sector overview

0%

1%

2%

3%

4%

5%

6%

Life Insurance Penetration as a % of GDP - 2016

Global average – 3.47%

42

4554

6471

80.388.8

2014 2015 2016 2017 2018 2019

Life Insurance Gross Written Premiums

Rs.

Bn

*Excludes a one-off surplus of Rs. 3.38 billion arising from the change in policy liability valuation

Financial Services – Insurance sector overview

43

4Q FY20 earnings update: Financial Services industry group

*Adjusted for SLFRS 16 – Leases, for comparison purposes

• Nations Trust Bank recorded a strong improvement in profits driven by the removal of the Debt Repayment Levy and NBT on financial services.

• Profitability of Union Assurance PLC was impacted by a notional tax credit reversal under investment income.

(Rs. mn) Q4 2019/20

Q4 2018/19

EBITDA 833 1,185

Key performance indicators CY2014 CY2015 CY2016 CY2017 CY2018 CY2019

Market share (%) 13 13 13 14 14 13

GWP growth (%) 8 17 19 22 11 4

Recurring net profit (Rs.Mn) 881 1,127 1,313 4,002* 1,640 1,200

Surplus from Life Fund (Rs.Mn) 750 800 1,100 3,642 1,100 1,000

Life Fund (Rs.Bn) 23.1 26.3 30.3 29.1 32.1 36.7

Capital Adequacy Ratio N/A N/A 411% 352% 262% 362%

Keyperformance indicators

Q4 FY2019 (Jan-Mar

2019)

Q1 FY2020(Apr-Jun

2019)

Q2 FY2020(Jul-Sep 2019)

Q3 FY2020 (Oct – Dec

2019)

Q4 FY2020 (Jan – Mar

2020)

GWP growth (% YoY)

(1) (1) 8 7 5

Net profit(Rs.Mn)

178 324 153 681 167

Net profit growth (% YoY)

(41) (46) (91) (32) (6)

Nations Trust Bank (JKH effective economic interest : 32.16%) Focus on SME / retail strategy Franchise for American Express cards

Financial Services – Banking sector overview

44

Key performance indicators CY2014 CY2015 CY2016 CY2017 CY2018 CY2019

Loans and advances growth (%) 19.5 22.4 23.7 25.0 19.0 2.0

Industry (LCB’s) (%) 12.3 23.5 17.8 15.8 20.3 4.9*

Return on equity (%) 19.8 18.20 17.7 17.4 15.3 12.2

Industry (LCB’s) (%) 16.8 15.7 17.3 17.5 13.7 10.6*

Net Interest Margin (%) 5.8 5.5 5.1 4.5 4.6 4.5

Industry (LCB’s) (%) 3.6 3.5 3.5 3.5 3.7 3.6*

NPL ratio (%) 4.2 2.8 2.8 2.3 4.6 6.2

Deposit base (Rs. Bn) 111 129 152 194 231 227

Asset base (Rs. Bn) 159 176 211 268 325 325

Net Profit (Rs. Mn) 2,537 2,614 2,869 3,371 3,702 3,454

Key performance indicators Q4 FY2019 (Jan-Mar 2019)

Q1 FY2020 (Apr-Jun 2019)

Q2 FY2020(Jul-Sep 2019)

Q3 FY2020 (Oct – Dec

2019)

Q4 FY2020 (Jan-March

2020)

Net profit (Rs. Mn) 773 575 1,066 1,113 959

Net profit growth (% YoY) (18) (34) 9 54 27

Gross Loan growth (% YoY) 18 12 8 3 (1)

Net Interest Margin (%) 4.9 4.8 4.8 4.9 4.6

NPL Ratio (%) 4.9 6.1 6.1 6.2 6.2

*CBSL provisional figures for 2019

THANK YOUThis document was produced by John Keells Holdings PLC for information purposes only. The information contained in this document are a review of the financial information pertaining to FY2020 and does not

constitute an issue prospectus or a financial analysis. This Investor Presentation should be read in conjunction with the JKH Annual Report 2019/20 to obtain a more comprehensive understanding of the drivers and

strategies of our businesses.

Whilst John Keells Holdings accepts responsibility for the accuracy of the information contained in this document, it does not assume any responsibility for investment decision made by the prospective investors based

on information contained herein. In making the investment decision, prospective investors must rely on their own examination and assessments of the Company including the risks involved.

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