OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX Shareholding Information Notes: (1) Mr Kuok Khoon Hong is deemed interested in the 607,031,816 shares in PGPL held by HPRY Holdings Limited, Hong Lee Holdings (Pte) Ltd, Longhlin Asia Limited, Kuok Hock Swee & Sons Sdn Bhd, KHS (Hong Kong) Limited, Jaygar Holdings Limited, KPW Investments Limited and KMH Investments Limited. (2) Wilmar International Limited (“Wilmar International”) is deemed interested in the 333,028,874 shares in PGPL held by WCA Pte. Ltd., a wholly-owned subsidiary of Wilmar International. (3) Mr Fang Fenglei is deemed interested in the 292,009,385 shares in PGPL held by Beaufort Investment Global Company Limited. (4) Mr Ron Sim is deemed interested in the 256,711,699 shares in PGPL held by V3 Assets Pte. Ltd.. (5) Mr Pua Seck Guan is deemed interested in the 172,927,594 shares in PGPL held by PSG Holdings Pte. Ltd.. WCA Pte. Ltd. 16.08%(2) Beaufort Investment Global Company Limited 14.10%(3) V3 Assets Pte. Ltd. 12.40%(4) PSG Holdings Pte. Ltd. 8.35%(5) As at 20 March 2026 29.32%(1) HPRY Holdings Limited Hong Lee Holdings (Pte) Ltd Longhlin Asia Limited Kuok Hock Swee & Sons Sdn Bhd KHS (Hong Kong) Limited Jaygar Holdings Limited KPW Investments Limited KMH Investments Limited Perennial Holdings Private Limited 100% Perennial Group Private Limited (“PGPL”) Perpetual Capital VCC 11.06% Bangkok Bank Public Company Limited 8.69% BUSINESS OVERVIEW Perennial Holdings is a leading healthcare and real estate company with a presence in Singapore, China, Malaysia and Indonesia. The Company is expanding its medical and eldercare offerings to create one-stop, integrated healthcare-centric ecosystems. Perennial Holdings' integrated healthcare platforms are key growth drivers, supported by the Company's strategic focus on largescale, transit-oriented developments ("TODs") as key infrastructure enablers. PORTFOLIO ANALYSIS Total Assets Composition by Business The Healthcare Business and Healthcarecentric TODs comprise Perennial Holdings' healthcare business, including medical care and eldercare, along with the five healthcare-centric HSR TODs. In FY2025, this component is the secondlargest (by effective stake), accounting for 30.2% (FY2024: 30.0%) of total assets. The other TODs, comprising Perennial Hangzhou Cloud Gate Centre, Beijing Tongzhou Integrated Development and Shenyang Longemont Integrated Development, form Perennial Holdings' China real estate business, which accounts for the majority of assets held on the balance sheet, comprising 33.0% (FY2024: 34.7%) of total assets (on an effective stake basis). Collectively, the Healthcare Business and Healthcare-centric TODs, together with the other TODs, constitute the largest components of the assets on the balance sheet, comprising 63.2% of total assets (FY2024: 64.7%) (on an effective stake basis). This represents Perennial Holdings’ focus on healthcare and TOD business in its overall portfolio. Total Assets Composition by Country In FY2025, Perennial Holdings remained focused on its core markets of China and Singapore, which accounted for 74.0% Total Property Value versus Total Gross Floor Area As at 31 December 2025, Perennial Holdings’ completed projects in Singapore and China collectively accounted for approximately 42.8% of total property value (FY2024: 48.0%) on an effective stake basis, providing a stable stream of income for the Company. Perennial Holdings’ pure-play residential projects constituted the entire 6.4% of Singapore development (FY2024: 6.7%) on an effective stake basis. of total assets (FY2024: 74.5%) and 23.6% of total assets (FY2024: 23.7%), respectively. On an effective stake basis, China and Singapore represented 73.8% of total assets (FY2024: 73.7%) and 23.3% of total assets (FY2023: 24.0%), respectively. Development projects in China accounted for 46.9% of total property value (FY2024: 41.6%) on an effective stake basis and 56.1% of total gross floor area (FY2024: 56.6%) on an attributable GFA basis, highlighting significant future growth potential in China. 1 Represents assets that are consolidated, and equity accounted according to the Singapore Financial Reporting Standards. 2 Represents assets computed via the Company’s shareholdings. 3 Other Markets relates to assets in Malaysia, Indonesia and Sri Lanka. Healthcare and Healthcare TODs 29.0% Singapore 25.4% Other Markets3 2.5% Other TODs 37.5% China 5.6% TOTAL ASSETS1 Healthcare and Healthcare TODs 30.2% Singapore 27.3% Other Markets3 3.0% Other TODs 33.0% China 6.5% BY EFFECTIVE STAKE2 China 74.0% Singapore 23.6% Other Markets3 2.4% TOTAL ASSETS1 China 73.7% Singapore 23.3% Other Markets3 3.0% BY EFFECTIVE STAKE2 China Development 46.9% China Completed 23.0% Singapore Development 6.4% Singapore Completed 19.8% Other Markets Development3 3.9% BY EFFECTIVE STAKE2 China Development 56.1% China Completed 28.4% Singapore Development 1.3% Singapore Completed 3.1% Other Markets Development3 11.0% TOTAL GROSS FLOOR AREA (Attributable GFA Basis) 31 30 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025
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