Slides
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1 Shangri-La Asia Ltd 2026 Interim Results Aug 2026 Shangri-La Kunming
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2 ▪ 1H26 Results Highlights ▪ Strategy Updates ▪ 1H26 Operational Updates ▪ 1H26 Key Financials Updates ▪ Appendix: Additional Information on Financials Agenda Shangri-La Hongqiao Airport, Shanghai Traders Hongqiao Airport, Shanghai
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1H26 Effective Revenue +5% YoY , Effective EBITDA +10% YoY , Effective EBITDA Margin +1.3pp YoY . Total Hotel in Operation 107 Group RevPAR US$111 +6% YoY 3 OPERATIONAL HIGHLIGHTS Interim Dividend HK$0.05 per share Operating PATMI US$88.9M +75% YoY FINANCIAL RESULTS Effective Share of Revenue US$1.32B +5% YoY Effective Share of EBITDA US$404.9M +10% YoY Effective EBITDA Margin % 30.6% +1.3pp YoY
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Strategy Updates 4 JEN Hangzhou by Shangri-La
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5 The soft opening of JEN Hangzhou by Shangri-La (“JEN Hangzhou”) launched in Aug 2026. As the Group’s 10th JEN property globally, the hotel is designed as a lively hub for travelers and the local community to connect, exchange ideas and explore the city from a fresh perspective. JEN Hangzhou - August 2026 Two New Hotels Opened YTD-2026 to Further Expand Footprint in China Shangri-La Kunming’s grand opening marks a new gateway to Yunnan’s cultural discovery where design-led storytelling, tea traditions, and immersive moments are inspired by the region’s landscapes and artistry. The hotel blends Shangri-La’s signature Asian hospitality with Yunnan’s rich local culture. Shangri-La Kunming - April 2026
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6 Our Recent New Product Design Elevates Shangri-La Brand and Performance Shangri-La Qiantan, Shanghai Shangri-La Nanshan, Shenzhen The Silk Lakehouse, Shangri-La Hangzhou Shangri-La, Kunming Kyoto Ultra- Luxury Project, and more October 2021 January 2024 May 2025 April 2026 Upcoming • Shangri-La Qiantan features wellness facilities, family-friendly experiences, and strong MICE offerings. • New standard of luxury to the Greater Bay Area, complemented by elevated wellness facilities and distinctive dining experiences. • The First ultra-luxury brand, Shangri-La Signatures, offers a serene blend of traditional design and modern luxury. • Design-led storytelling, tea traditions, and immersive moments are inspired by the region’s landscapes and artistry. 0 20 40 60 80 100 120 140 160 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 RevPAR 100% over China Avg 0 20 40 60 80 100 120 140 160 180 200 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 China Avg RevPAR RevPAR 100% over China Avg 0 50 100 150 200 250 300 350 2Q25 3Q25 4Q25 1Q26 2Q26 China Avg RevPAR RevPAR 200% over China Avg 0 20 40 60 80 100 120 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 China Avg RevPAR RevPAR 50% over China Avg China Avg RevPAR Coming soon...
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7 New TRADERS Brand Sets for New Growth Opportunities • Refreshed product concept and design • Brand symbolized by “The Fujian Boat (福船)” – Chinese ancient merchant ship • Upper-midscale segment and China market focus • Strong HMA interest with 10+ contracts under negotiation • First new TRADERS hotel is expected to open 1Q27
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8 Brand Elevation & New Product Drive StrongInterest from 3rd Party Owners for HMA Property Name Projected Opening Owned Hotels Shangri-La Hotel, Kyoto – 20% equity Q4 2026 Shangri-La Hotel, Zhengzhou – 45% equity 2027 Managed Hotels JEN Hangzhou by Shangri-La, Hangzhou Q3 2026 Traders Hotel, Harbin Q1 2027 Traders Hotel, Zhengzhou Q1 2027 Shangri-La Hotel, Shougang Park - Phase 2 Q4 2027 Shangri-La Hotel, Bodrum Q2 2029 Shangri-La Hotel, Wuxi Traders Hotel, Wuxi 2031 Shangri-La Hotel, Melbourne TBC Beijing Hangzhou Bodrum Wuxi Kyoto Harbin …. Melbourne Zhengzhou
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9 1,262.5 1,323.8 1,230.0 1,240.0 1,250.0 1,260.0 1,270.0 1,280.0 1,290.0 1,300.0 1,310.0 1,320.0 1,330.0 1H25 1H26 Group Effective EBITDA Margin +1.3pp YoY driven by Revenue Growth (0.7pp Contribution) and Cost Optimization (0.6pp Contribution). 29.3% 0.6% 0.7% 25.0% 26.0% 27.0% 28.0% 29.0% 30.0% 31.0% 1H25 1H26 1H26 Group Effective EBITDA Margin Expansion 30.6% Group Effective Revenue +5% YoY 0.7pp margin expansion from Revenue Growth 0.6pp margin expansion from Hotel Operational Efficiency 1 2 1 2 +1.3pp YoY USD m Actions taken: • Enhanced workforce flexibility and cluster leadership arrangements • Optimized predictive maintenance workflows; advanced utility monitoring and energy saving initiatives Actions taken: • Captured demand from high-value retail guests
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1H26 Operational Updates 10 Shangri-La Kunming
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11 SA Group-owned Hotels RevPAR +6% YoY in 1H26 105 111 50 60 70 80 90 100 110 120 130 1H25 1H26 RevPAR (USD) 169 177 80 100 120 140 160 180 200 1H25 1H26 ADR (USD) 62 63 20 30 40 50 60 70 80 1H25 1H26 Occupancy (%) +5% YoY +1pp YoY +6% YoY
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12 SA Group-owned Hotels 1H26 RevPAR by Regions 72 248 200 112 251 0 50 100 150 200 250 300 Chinese Mainland Hong Kong Singapore SEAA (excl. SG) MEIA RevPAR (USD) 117 305 256 186 453 80 130 180 230 280 330 380 430 480 Chinese Mainland Hong Kong Singapore SEAA (excl. SG) MEIA ADR (USD) 61% 81% 78% 60% 55% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Chinese Mainland Hong Kong Singapore SEAA (excl. SG) MEIA Occupancy (%) YoY +5% +13% +3% +5% -5% Flat -1pp +1pp +1pp +3pp +6% +12% +4% +8% Flat
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13 1H26 Key Financials Updates Shangri-La Hongqiao Airport, Shanghai
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222 259 40 40 4 2 -14 -12 251.5 289.5 23.8% 25.8% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% -60 -10 40 90 140 190 240 290 340 390 1H25 1H26 Consolidated EBITDA 975 1,042 68 7313 9 1,056.1 1,124.0 1H25 1H26 Consolidated Revenue 1H26 Group Effective Revenue +5% YoY, Uplifted by both Hotel Operations (+6% YoY) and IP (+1% YoY); EBITDA Margin (excl. Resi sales & Others) +1.3pp YoY . Group Total Consolidated Basis (in USD’M) 14 Effective Share Basis (in USD’M) Op PATMI (in USD’M) 50.9 88.9 4.8% 7.9% -15% -10% -5% 0% 5% 10% 0 20 40 60 80 100 120 140 1H25 1H26 +75% YoY 1,027 1,088 217 22018 16 1,262.5 1,323.8 0 200 400 600 800 1,000 1,200 1,400 1H25 1H26 Effective Revenue 236 269 146 146 2 3 -15 -12 369.5 404.9 29.3% 30.6% -100.0% -80.0% -60.0% -40.0% -20.0% 0.0% 20.0% -20 80 180 280 380 480 580 1H25 1H26 Effective EBITDA Hotel operations Investment Properties Property Sales & Others Corporate & Project Expense Group EBITDA margin Hotel operations Investment Properties Property Sales & Others Group Total +5% YoY +10% YoY +6% YoY +15% YoY +1.3pp YoY+1.9pp YoY +3.1pp YoY
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15 24.1 28.7 0 5 10 15 20 25 30 35 40 45 50 1H25 1H26 CAPEX (USD) *Free Cash Flow = Operating Cashflow – CAPEX + Net cash from non-controlling shareholders + New S/H loan repaid from associates + other CFI (net); FCF include capital reduction from 2018 onwards 1H26 Operating Cash Flow Was More Than 2x vs Last Year to US$135.8mn; Free Cashflow was Nearly 3x vs Last Year to US$107.1mn 59.9 135.8 0 20 40 60 80 100 120 140 160 1H25 1H26 OCF (USD) 35.8 107.1 0 20 40 60 80 100 120 1H25 1H26 FCF (USD) +$76M YoY +$71M YoY +$5M YoY
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16 Debt Maturity Extended to 3.8 years; Funding Cost Lowered to 3.7%; Sufficient Cash to Cover Debts Till 2029 3.80 years Weighted Debt Maturity (+0.21yr vs FY25) $4.51bn Net Debt (+$182mn vs FY25*) $2,727mn** Cash & cash equivalent (+$197mn vs FY25) Key Financial MetricsDebt Portfolio as of 30 June, 2026 3,758 278 615 1,672 1,663 1,097 1,245 664 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Available Resources 2026 2027 2028 2029 2030 2031 2032+ Weighted Debt Maturity: 3.80 years (3.59 @ Dec 2025) USDmn * Net Debt increase due to RMB foreign exchange translation impacts and replacement of loans in unconsolidated Associate companies with lower-rate loans from Group level. ** Including Short-term bank deposits with original maturities over 3 months. Sufficient to cover till 2029 Total Debts: USD7,235mn 77.4% Indebtedness Ratio (+2.8ppt vs FY25) 48.4% Indebtedness Ratio (Net of Cash) (+0.8ppt vs FY25*) 3.7% Funding Cost (-0.3% vs FY25)
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Appendix: Additional Information on Financials Shangri-La Kunming
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18 1,056.1 1,124.0 1020 1040 1060 1080 1100 1120 1140 1H25 1H26 [Consolidated Basis] Financial Highlight: Group Consolidated EBITDA Margin +1.9pp YoY Driven by Revenue Growth (0.8pp Contribution) and Cost Optimization (1.1pp Contribution). 23.8% 1.1% 0.8% 15.0% 17.0% 19.0% 21.0% 23.0% 25.0% 27.0% 1H25 1H26 1H26 Group Consolidated EBITDA Margin Expansion 25.8% Group Consolidated Revenue +6% YoY 0.8pp margin expansion from Revenue Growth 1.1pp margin expansion from Hotel Operational Efficiency 1 2 1 2 +1.9pp YoY USD m Actions taken: • Enhanced workforce flexibility and cluster leadership arrangements • Optimized predictive maintenance workflows; advanced utility monitoring and energy saving initiatives Actions taken: • Captured demand from high-value retail guests
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19 1H 2026 Operating Performance Update Occupancy Room Rate RevPAR % YoY chg (pp) USD YoY chg % USD YoY chg % Hong Kong 81 -1pp 305 +13% 248 +12% Chinese Mainland 61 flat yoy 117 +5% 72 +6% Singapore 78 +1pp 256 +3% 200 +4% Malaysia 61 -3pp 147 +10% 91 +6% Philippines 65 +4pp 209 -3% 136 +4% Japan 72 -5pp 752 +8% 545 +1% Thailand 60 +1pp 174 +4% 105 +6% France 53 -3pp 2,178 +4% 1,147 -2% Australia 90 +3pp 285 +19% 258 +24% UK 75 +2pp 658 -4% 496 flat yoy Mongolia 38 +1pp 242 -4% 91 -2% Sri Lanka 52 +8pp 140 -5% 73 +12% Other Countries 42 +1pp 220 -2% 93 flat yoy Group Overall 63 +1pp 177 +5% 111 +6% Non-Chinese Mainland Overall 65 +1pp 249 +4% 162 +6%