Malaysia Airports Holdings Berhadmahb.listedcompany.com/misc/presentation/2019/Malaysia_Airports_Holdings_Berhad_2.pdfDisclaimer This presentation may contain forward-looking statements

Malaysia Airports Holdings Berhad

Disclaimer

This presentation may contain forward-looking statements by Malaysia Airports Holdings Berhad (Malaysia Airports) that reflectmanagement’s current expectations, beliefs, intentions or strategies regarding the future and assumptions in light of currentlyavailable information. These statements are based on various assumptions and made subject to a number of risks, uncertainties andcontingencies. Actual results, performance or achievements may differ materially and significantly from those discussed in theforward-looking statements. Such statements are not and should not be construed as a representation, warranty or undertaking as tothe future performance or achievements of Malaysia Airports and Malaysia Airports assumes no obligation or responsibility to updateany such statements.

No representation or warranty (either express or implied) is given by or on behalf of Malaysia Airports or its related corporations(including without limitation, their respective shareholders, directors, officers, employees, agents, partners, associates and advisers),as to the quality, accuracy, reliability or completeness of the information contained in this presentation, or that reasonable care hasbeen taken in compiling or preparing the Information.

Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided andpercentages may not precisely reflect the absolute figures.

No part of this presentation is intended to or construed as an offer, recommendation or invitation to subscribe for or purchase anysecurities in Malaysia Airports.

The financial results should be read in conjunction with the audited Financial Statements for the year ended 31 December 2018 andthe Interim Financial Statements for the quarter ended 30 September 2019.

2

MAHB Today

44

More than 25 years serving the nation

Launch of KLIA Aeropolis

Malaysia Airports Incorporated MAHB is Khazanah’s Top 20 GLC

1991 1998 2006 2010

klia2 Ground Breaking

Ceremony

2013

Sama-Sama Hotel Launched

2014

Opening of klia2

Full Acquisition of ISG

1st Airport Operator in

Asia Listed in Stock

Exchange

Opening of KLIA

1999

Opening of LCCT

Opening of Mitsui Outlet Park

2015

Licensed by MOT as Airport Operator

1992

New Operating Agreement

2009

Expansion of LCCT

Launch of RtS2020

20162017

MoU with Cainiao Network

Launch of Digital Free Trade Zone (DFTZ)

2018

Expansion of Penang International Airport

Graduation from GLC Transformation Programme with a

TSR more than 500%

Completion of Langkawi Expansion Project

Completion of new ISG Domestic Hall

Government approval for the

35 year Operating Agreement

extension to 2069

2019

*Total Shareholder Return

*

5

MAHB today

55

KUALA LUMPUR INTERNATIONAL AIRPORT (KLIA)

ONLY ASEAN AIRPORTWITH THREE PARALLEL RUNWAYS

1STAIRPORT OPERATOR IN

ASIA TO BE LISTED

RM13.9 billionMARKET CAPITALISATION

AS AT 31 DECEMBER 2018

# TOP 14 AIRPORT SERVICE QUALITY

IN THE WORLD (>40MPPA CATEGORY)

WORLD’S

12th BUSIESTAIRPORT FOR

INTERNATIONAL PASSENGERS

OVERSEASOPERATIONS

SABIHA GOKCEN INTERNATIONAL AIRPORT

ISTANBUL (100% equity)

5INTERNATIONAL

AIRPORTS

16DOMESTICAIRPORTS

18STOLPORTS

MALAYSIAN OPERATIONS SERVING

133PASSENGERSMILLION

CARGOTONNES1,030k

>120 CARRIERS

*Combined operations in Malaysia and Turkey as at FY18* *Based on Airports Council International (ACI) as at FY18

HAMADINTERNATIONAL AIRPORT

DOHA(Operational & Maintenance

Contracts)

*

**

**

FY18 Key Highlights

6

GROUP FINANCIAL PERFORMANCE AIRPORT PERFORMANCE

Revenue

RM4,851.7 million +4.3%(FY2017: RM4,651.3 million)

EBITDA


Profit After Tax

RM727.3 million +202.6%(FY2017: RM240.4 million)

Total Equity


Group AircraftMovements

1,232,735 +2.3%(FY2017: 1,204,550)

Group PassengerTraffic Movements

133.2 million +4.1%(FY2017: RM128.0 million)

Group CargoMovements

1,037,370 tonnes +1.3%(FY2017: 1,024,011)

KUL ASQ Rank(> 40 mppa Category

14th

(2017: 12th)

KUL ASQ Score

4.70 out of 5(2017: 4.65)

Total Destinations

KUL: >120SAW: >160

IATA Airport Codes:

KUL – KL International AirportSAW – Istanbul Sabiha Gokcen International Airport

KUL Hub

KLIA - Seamless connectivity for Full Service Carriers & Low Cost Carriers

•AirAsia•AirAsia X

Major International

Airlines Primary Hub

• Jetstar Asia• Scoot• Indigo

• Indonesia AirAsia•Philippines AirAsia

•Cebu Pacific•Thai AirAsia

KLIA MainCapacity: 30.0 mppa*FY18 Utilisation : 28.1mppa (-0.7%)

klia2Capacity : 45.0 mppaFY18 Utilisation: 31.9mppa (+5.3%)

KLIA Air Cargo Terminal (ACT) 1 (formerly LCCT)

Runway 1

Runway 2

Runway 3

• 60.0 mil Passengers (+2.4% against FY17)

• 120 International destinations• 15 Domestic destinations

Primary Hub

Major International Airlines

•Emirates•Cathay Dragon• Saudia• Singapore Airlines• Lion Air•Qatar Airways•Thai Airways•KLM•China Southern•Oman Air•All Nippon Airways•China Airlines

ASEAN hub for Oneworld

•Malaysia Airlines

•Etihad•Vietnam Airlines•Turkish Airlines•Garuda•Korean Airlines•Eva Airways•British Airways• Japan Airlines•Air China•Condor

•Malindo Air

*KLIA Main’s design capacity is 25.0 mppa. KLIA Main has one of the highest comfort level of 55sqm per passenger during peak hour, hence its capacity can be stretched to cater for up to 30.0 mppa 8

9

KUL: 43.6 million international passenger movements in 2018

Africa0.2%

Asia84.5%

Australia & New Zealand

6.1%

Europe2.1%

Middle East7.1%

Sector Composition Top 3 Countries

South East Asia 47.5%Indonesia (17.9%), Singapore (9.7%) ,

Thailand (9.4%)

North East Asia 24.5% China (10.8%), Hong Kong (3.6%), Japan (3.5%)

South Asia 12.4% India (7.5%), Bangladesh (1.9%), Sri Lanka(1.3%)

Central Asia 0.2% Kazakhstan (0.1%), Uzbekistan (0.1%)

Total 84.5% Asia

Passenger Movements by Sector Top 10 Country Movements*Passenger Movement

(Mil)

Growth (%)

1

2

3

4

5

6

7

8

9

10

7.8

Passenger Movement

(Mil)

Growth (%) Indonesia

China

Thailand

Singapore

India

Australia

Vietnam

Hong Kong

Japan

South Korea

6.2

4.7 8.4

4.2 (-1.3)

4.1 0.3

3.3 7.8

2.3 (-8.7)

2.0 8.7

1.6 (-0.3)

1.5 1.0

1.3 32.2

*ranked by no. of passenger movements

KLIA Quality of Service (QOS) framework

1.9% 0.8% 0.75% 1.55%

10

Overall satisfaction with airport

Cleanliness of the washrooms

Overall satisfaction with the washrooms

Cleanliness of the terminal

Flight information display

Availability of Wi-fi

Ambience of the terminal

Wayfinding

Kerbside congestion

Aerobridge availability

Aerobridge operator available before X minutes of on-chocks timesVDGS availability

Ramp Wi-Fi

Staff washrooms

Transfer queuing

Passenger security search

Check-in

Outbound immigration

Outbound customs

Inbound immigration

Inbound customs

Kerbside queuing

Baggage Handling System Equipment

Aerotrain TTS

People Mover – Lifts, Escalators & Walkators

Outbound baggage

Time to first bag

Time to last bag

Legend: Roll-out timeline: Sep 2018 Oct 2018 Jan 2019 Jul 2019 Publication Only

Passenger Comfort and Facilities Operator and Staff Facilities Queuing Times Passenger and Baggage Flows

Represents % of total revenue at risk

**Queuing Times Elements : Roll-out timeline• Passenger Security Search : 1 Oct’19• Other elements in Queuing Times : TBC by

MAVCOM

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

klia2 M'sia M'sia SAW BKK CGK

7.0 10.0 11.0

14.3 12.0

37.0 Domestic PSC (RM)

11

Competitive charges and resilient growth environment

Source: Airport websites based on exch. rate on 1 August 2018Note: M’sia PSC relates to KLIA (MTB) and all other airports other than klia2. PSC shown is inclusive of PSSC and Airport Development Fund where applicable

Aero Revenue / Passenger is based on Statutory Drawing Rights (SDR)

Resilient passenger traffic growth, which has endured even the most extreme shocks

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

klia2 M'sia M'sia M'sia SAW CGK BKK HKG SIN

35.0

71.0

35.0

73.0 71.7 65.0

86.0

133.0 141.0

International PSC (RM)

ASE

AN

No

n-A

SEA

N

2016 2018 2016 2018

Amongst the lowest airport charges in the region3

2 +

3

65

+ 6

9 +

1

6 +

1

EUR

15

IDR

20

0k

(T3

)

THB

70

0

HK

D 1

65

SGD

47

.30

EUR

3

THB

10

0

IDR

13

0k

(T3

)

Rank AirportAero

Revenue / Passenger

Ranking Index

World average 8.6 100.0

4 Tokyo Narita 13.5 162.4

21 Hong Kong 8.3 100.2

24 Singapore 8.1 97.3

31 Delhi 7.2 87.3

42 Airports of Thailand 5.0 59.9

48 Malaysia Airports 3.2 38.2

Airport Charges Indicator – Leigh Fisher Report (2018) on 50 airports or airport groups

33 33 34 3439 42 43 45 48 51

5864 67

80 83 8489

97 99

15 15 16 18 21 23 24 27 28 30 34 38 4048 49 49 53

59 60

0 1 3 4 4 712 14 15 19

24 28 30 31 34

0

20

40

60

80

100

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

MAHB MY KLIA ISG Global Financial CrisisSARS9/11

EU SovereignDebt Crisis

Industry setbacks

Passengers ‘mil

KLIA Aeropolis and Subang Regeneration

KLIA

klia2

RUNWAY 1

RUNWAY 2

RUNWAY 3

CAPACITY FOR 4TH RUNWAY

KLIA

13

KLIA Aeropolis is poised for new growth, attracting high value investments

KLIA Aeropolis as an attractive FDI magnet within the 100sqkm scalable land:-

1 MICE & LEISURE

Hajj Pilgrims ‘one stop’ - Tabung Haji Hotel & Convention Centre

Shopping Destination – Mitsui Outlet Park

Integrated Transportation Hub Global Distribution Centres, Modern High Spec Light

Industrial, Specialised Industry

Grand Central Station – rail/ transport hub / Business

Campuses / Headquarters

Leading-Edge ASEAN Pavilion, Indoor Arena, Convention

Centre

Thematic Entertainment, Health/Wellness Village

Regional E-Commerce Hub / E-Fulfilment Centre

Automated and Digitised Specialised Cargo Handling,

Warehouses, Integrated Logistics and Supply Chain

Industry 4.0 Manufacturing

3 AEROSPACE & AVIATION

High Value MRO and Supply Chain Activities

2 AIR CARGO & LOGISTICS

▪ International destination for business tourism

▪ Integrated air cargo network▪ High-tech aerospace & aviation parks

The vision of tomorrow to be realised through Subang Airport Regeneration 2025

14

Malaysia’s leading industrial-aviation park at par with

Southeast Asia’s best-in-class

Best City Airport in Asia Pacific - connected, convenient & modern

The Top 3 preferred Business Aviation hubs in Asia Pacific

serving

~5 mil pax annually

Serving the growing needs for business jet MRO, Fixed Base Operator & aircraft management.

Drivers:• Asia Pacific - highest growth market

globally• Congestion & high cost in mature hubs

(Hong Kong & Singapore) • Lack of ready infrastructure in other

growing markets

>1,500

business jets in

Asia Pacific

This ecosystem consists of:• Aero-manufacturing• Helicopter services• MRO• Training and Human Capital development

Consists of:• Domestic and regional

destinations• Convenient & premium

services

AEROSPACE ECOSYSTEMBUSINESS AVIATION HUBAIRPORT CITY

AIRPORT AND AIRSIDE LANDSIDE (Subang Aero-Tech Park)

International Ventures

16

Guiding Principles

Turkey

Malaysia

Successful airport acquisitions/stakeAttempted airport bidsConsultancy

Divestment

International record for MAHB is well recognised

Qatar

2014

Sabiha Gokcen, Turkey(increase to 60%)

Doha, QatarFacilities Mgmt (new contract)

2011Madinah, Saudi

2015Sabiha Gokcen, Turkey

(increase to 100%)

Pre-2010Delhi, India(10%)

Hyderabad, India (11%)Sabiha Gokcen, Turkey (20%)

2010

Male, Maldives(23%)

Cebu, Philippines

2013

Doha, QatarFacilities Mgmt

2012

Nationalisation of Male, Maldives

London Stansted, UK

Malaysia Airports’ International Journey

Yangon, MyanmarTender for development

Naypyitaw, Myanmar Airport certification

Jeddah, SaudiAstana, Kazakhstan Delhi, India (10%)

Cambodia airports (40%)

Doha, QatarFacilities Mgmt (new contract)


(contract extension)

2016

Jeddah, Saudi

2017

2018

Male, Maldives(23%)


(contract extension)

17

Malaysia Airports’ three-pronged international strategy going forward

Grow ISGOrganic growth, continue to extract value from Istanbul Sabiha Gokcen (ISG)

Invest in Strategic Assets

Investing in new assets:

• Greenfield in emerging market

• Brownfield in developed market

Export Expertise

• Export consultancy capabilities

• Leverage airport operator capabilities to improve newly acquired asset efficiency and uplift profitability

Export Expertise

ISG Key Figures

18

34.1 mil Passengers in

2018

+8.8%Growth in 2018 for passenger

traffic

+44.1%Extra passengers gained in 5 years

21New routes in

2017/2018

127Direct

international destinations

41Direct domestic

destinations

12th

Busiest airport in Europe

2nd

Rank in terms of passengers

traffic in Turkey

19

Istanbul Sabiha Gokcen (ISG) strategically positioned to handle continued growth

Runway 2 on track for completion with dual runway operations by 1Q20

Opportunity to further increase terminal capacity to cater for the increased airside capacity

Resilient pax growth with potentially increasing share of higher-fee international departing passengers

Rapidly improving connectivity to and around ISG with significantinfrastructure investments including the new Istanbul Finance Center

Turkey

Istanbul

Runway 1

Runway 2

Sabiha Gokcen AirportCapacity: 41.0 mppaFY18 Utilisation : 34.1mppa (+8.8%)

Primary Hub

Major International Airlines

• Emirates•Anadolu Jet• Flynas

•Pegasus •Turkish Airlines

•Qatar Airways• flydubai• SunExpress

Taksim

Ataturk Airport –

now closed

(FY18: 68.0mil pax)

New Istanbul Airport

Replacing Ataturk Airport

(FY19 Capacity: 90mil pax)

Sabiha Gokcen Airport

(FY18: 34.1mil pax)

60 km

40 km

30 km

Financial Highlights

TR³Operations

EBITDA

Headline Key Performance Indicator (KPI)

MY2

OperationsEBITDA

Airport Service Quality (ASQ)

21

1 % represents percentage of KPI achieved for the financial year² MY represents results from the Malaysian operation and overseas project and repair maintenance segment in Qatar³ TR represents consolidated results from ISG & LGM in Turkey*Core EBITDA and Core PAT excludes non-core items (NCI). NCI includes the unrealised gain on fair value of investment in GMR Hyderabad International Airport Limited (GHIAL-RM258.4mil) and gain on disposal of investment in GMR Malé International Airport (GMIAL-RM28.2mil)

RM2,092.0mil

RM1,211.1mil

RM880.9mil

> 40 mppa: KLIA Ranking

Top 12

FY18 Target

RM2,092.0mil

RM1,211.1mil

RM880.9mil

FY18 Core*

FY18Actual

RM2,383.5mil

RM1,510.3mil

RM873.2mil


Top 14

RM2,092.0mil(100.0%)

RM1,229.9mil(101.6%)

RM862.1mil(97.9%)


Top 14

EBITDA (%)


Top 13

RM2,163.6mil

RM1,236.1mil

RM927.5mil

FY19Target

22

Achieving commendable financial growth in FY18

Passengers (mil)

Core EBITDA(1)

(RM mil)

Dividend(sen/share)

Core PAT (1)

(RM mil)

128.0

133.2

1,909.3

2,092.0

240.4

446.8

13.0

14.0

FY17 FY181. Core EBITDA and Core PAT excludes non-core items (NCI). NCI includes the unrealised gain on fair value of investment in GMR Hyderabad International Airport Limited (GHIAL-RM258.4mil) and

gain on disposal of investment in GMR Malé International Airport (GMIAL-RM28.2mil)

23

Dividend payments are on an upward trend

Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019(1)

Total Amount Paid (RM'mil)

152.60 188.93 162.94 186.27 165.46 152.82 86.95 141.03 165.92 215.70 232.29 82.96

Dividend Per Share (sen)

18.55 22.90 19.75 21.15 13.63 11.78 5.60 8.50 10.00 13.00 14.00 5.00

4.00

8.00 8.00 8.006.00 6.00

2.004.00 4.00 5.00 5.00 5.00

14.55

14.9011.75

13.15

7.635.78

3.60

4.506.00

8.00 9.00

152.60

188.93

162.94

186.27

165.46152.82

86.95

141.03

165.92

215.70232.29

0.00

50.00

100.00

150.00

200.00

250.00

0.00

5.00

10.00

15.00

20.00

25.00

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Interim DPS (sen) Final DPS (sen) Total Amount Paid (RM'mil)D

ivid

en

d P

er

Shar

e (

DP

S)

Tota

l Am

ou

nt

Pai

d (

RM

’mil)

1. Single-tier interim dividend announced for the financial year ended 31 December 2019 on 30 August 2019

24

Diversified revenue streams: Higher non-aeronautical revenue contributions

Rental Retail Non-Airport

FY18 Revenue

(mil)

Key revenue streams

% of total revenues

RM 2,404.3 RM 1,259.3 RM 831.3 RM 291.3

17.4% 3.3%37.5%

• Passenger

Service

Charges

• Landing &

Parking

• Rental & royalties

• Car park

• Advertising

• Aeropolis

• Duty free

• Non-dutiable

goods

• Maintenance and technical

services (Malaysia & Qatar)

• Oil palm plantation

• Sama - Sama Hotel

• ISG Airport Hotel

Framework25+35 years

concession

for 39 airports

Retail and F&B tenants on a fixed

rent or royalty basis

Competitive

Market & able to

enjoy upside due

to higher margin

16.4%

• Passenger

Service

Charges

24+2 years

concession

(for terminal

only)

RM 1,797.0 RM 607.3 RM 786.7 RM 472.6

Non Aeronautical Revenue: 49.8%Aeronautical Revenue: 50.2%

12.7% 9.9%

RM 133.4 RM 157.9

2.8%

RM 831.3

25

EBITDA KPI mainly driven by passenger growth and mix

861.4 978.6 990.9 1,138.7 1,229.9 1,236.1

700.5 719.1780.9 862.1 927.5

2014Actual

2015Actual

2016Actual

2017Actual (Restated)

2018Actual

2019Target

MY TR

83.4 83.8 89.0 96.6 99.1 103.9

23.6 28.3 29.6 31.3 34.1 35.6

2014Actual

2015Actual

2016Actual

2017Actual

2018Actual

2019Target

MY TR

1,679.1 1,709.91,919.6 2,092.0

Group Core EBITDA (RM ‘mil)

Passenger Movement (‘mil)

2,163.6

118.6107.0 112.1127.9 133.2 139.5

250

1,000

1,500

6001,000

2018 2019 2020 2021 2022 2023 2024 PerpetualSukuk

TR

MY

Strong interest from foreign shareholders supported by good credit profile

261The dividend payout ratio is based on the adjusted net core profit of the Group

1Amount already paid in 20182Non-call 10 year, fixed initial periodic distribution rate of 5.75% recognised in equity3Net Debt = Total Debt – (Cash and Cash Equivalents plus Unit Trust and Bonds)4After ISG’s floating rate swap

No. of paid-up share capital: 1,659,191,828

Shareholding Profile Borrowing Profile

Dividend Profile

166 / €35

213 / €45

733 / €155

402 / €85

568 / €120(RM / € ‘mil)

(RM ‘mil)

FY18 FY17

Net debt (RM 'mil)3 2,350.3 2,977.8

Share of fixed-rate debt 100%4

100%4

Weighted average maturity (years) 4.45 5.28

Weighted average cost 4.06% 4.02%

Gross gearing ratio (times) 0.56x 0.62x

Credit Rating / Outlook

RAM (Reaffirmed on 19/12/18) AAA / Stable

Moody's (Reaffirmed on 16/01/19) A3 / Stable

40.0%

26.8%

33.2%

31-Dec-18

Foreign

Domestic

39.3%

27.5%

33.2%

31-Dec-17

Foreign

Domestic

Financial Year

Dividend Reinvestment Plan Subscription Rate

Dividend Payment per Share (sen)

Total Amount Paid (RM' mil)

Dividend Payout Ratio1

Interim Final Interim Final Total Interim Final Total Total

2012 46.2% 85.0% 6.00 7.63 13.63 72.60 92.86 165.46 50.0%

2013 88.4% 87.6% 6.00 5.78 11.78 73.95 78.87 152.82 50.0%

2014 53.4% 74.1% 2.00 3.60 5.60 27.48 59.47 86.95 61.2%

2015 N/A N/A 4.00 4.50 8.50 66.37 74.66 141.03 58.1%

2016 N/A N/A 4.00 6.00 10.00 66.37 99.55 165.92 55.5%

2017 N/A N/A 5.00 7.00 12.00 82.96 116.14 199.10 51.0%

2018 N/A N/A 5.00 9.00 14.00 82.96 149.33 232.29 52.0%

1

118 / €25

2

(RM 'mil)

FY18 FY17 (Restated) Variance (%)

EBITDA excluding Non-core items (NCI) & Adjustments (Adj) 1,229.9 862.1 2,092.0 1,138.7 770.7 1,909.3 8.0% 11.9% 9.6%

NCI + Other Income - Gain on disposal of GMIAL 28.2 - 28.2 - - -

NCI + Other Income - FV gain on investment in GHIAL 258.4 - 258.4 - - -

Adj* + Other Income - ISG PPA interest income - 11.1 11.1 - 10.2 10.2

NCI + Other Expenses- Transaction cost (6.1) - (6.1) - - -

EBITDA including NCI & Adj 1,510.3 873.2 2,383.5 1,138.7 780.9 1,919.6 32.6% 11.8% 24.2%

- Depreciation and Amortisation (377.6) (312.8) (690.4) (352.0) (337.6) (689.6)

Adj* - Amortisation - ISG&LGM PPA concession rights fair value - (197.1) (197.1) - (191.2) (191.2)

- Finance Costs - interest on borrowing and misc. (173.4) (120.9) (294.3) (181.0) (111.8) (292.7)

- Finance Costs - ISG utilization fee expense - (420.4) (420.4) - (396.7) (396.7)

Adj* - Finance Costs - ISG&LGM PPA interest expense - (30.9) (30.9) - (31.2) (31.2)

+ Share of Assoc. & JV Profit 30.1 - 30.1 20.6 - 20.6

Profit before Tax & Zakat including NCI &Adj 989.5 (208.9) 780.6 626.3 (287.5) 338.8 58.0% 27.3% 130.4%

- Taxation and Zakat (90.5) 37.2 (53.3) (164.6) 66.2 (98.4)

PAT including NCI & Adj 899.0 (171.7) 727.3 461.7 (221.3) 240.4 94.7% 22.4% 202.6%

FY18 EBITDA and PBT Reconciliation

27

Note: Included within current period retained earnings is a distribution to the perpetual sukuk holders amounting to RM57.5mil (FY17: RM57.5mil)*PPA (Purchase Price Allocation): Non-cash adjustments are in respect of the fair valuation exercise on the Turkish operations under MFRS3: Business Combinations (FY18:RM216.7mil; FY17: RM212.2mil)

Main revenue items are Passenger Service Charge, retail and rental & royalties.

Key drivers include strong international pax growth and supported by a higher commercial revenues in Malaysia andTurkey

1,387.7

406.2

(62.8)65.9

831.3 661.5

61.9 63.3 90.2

30.1 162.2

499.5

107.7

417.2

38.0 17.2 8.8 65.6

1,335.5

385.7

(89.0)57.3

853.7

630.2

57.4 47.0 94.5

38.2 155.2

453.2

111.0

394.4

44.5 16.0 8.7 57.9

(500.0)

-

500.0

1,000.0

1,500.0

2,000.0

PSC & PSSC

Landing & Parking

Airline Incentive

Others Retail Rental & Royalties

Car Park Others Hotel Agriculture &Horticulture

Proj & repairmaintenance

Construction Revenue

FY17 TR FY17 MY FY18 TR FY18 MY

Continued growth in aeronautical and non-aeronautical revenue for FY18

(RM ‘mil)

28

Construction Revenue (RM ’mil)

Non-Airport Operations (RM ‘mil)FY18: RM291.3 (-1.8%)FY17: RM296.6FY18: RM282.5 (-1.9%) excluding ISG & LGMFY17: RM287.9 excluding ISG & LGM

Non-Aeronautical (RM ‘mil)FY18: RM2,090.5 (+2.3%)FY17: RM2,043.2FY18: RM1,618.0 (+1.9%) excluding ISG & LGMFY17: RM1,588.3 excluding ISG & LGM

Aeronautical (RM ‘mil)FY18: RM2,404.3 (+6.7%)FY17: RM2,253.6FY18: RM1,797.0 (+6.4%) excluding ISG & LGMFY17: RM1,689.4 excluding ISG & LGM

454.7

161.9 137.0

644.9

365.7

289.7 417.6 233.4

44.7

21.9

73.9 104.2

65.6

483.3

160.1 148.8

657.4

316.5

265.4 391.8

214.4

50.0

22.9 87.1 107.0

57.9 -

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

Direct Materials Direct Labour Direct Overheads Staff costs Utilities & comm Maintenance User Fee Others Construction Cost

Operating cost profile centred around fixed costs with the exception of User Fee

(RM ‘mil)

29

Construction Cost (RM ’mil)

Main operating cost components are staff, utilities and maintenance.Revenue share with GoM for FY18 is 11.89%, recognized as user fee.Direct costs relates to retail and project & repair maintenance segments.

Operating Costs (RM ‘mil)FY18: RM1,951.4 (+4.0%)FY17: RM2,112.6 FY18: RM1,951.4 (+5.7%) excluding ISG & LGMFY17: RM1,845.5

Direct Costs (RM ‘mil)FY18: RM753.6 (-4.9%)FY17: RM792.1

440.4 1,768.9

8,403.1

3,100.0

286.8 1,350.7 155.7

1,024.0

8,361.9

2,043.3

5,024.3

99.8

480.8 1,684.3

8,112.5

3,350.0

372.7 1,199.6 162.8

887.2

9,297.1

2,199.3

5,100.1

101.4

(1,000.0)

3,000.0

7,000.0

11,000.0

15,000.0

19,000.0

TradeReceivables

Cash &Funds

IntangibleAssets

Borrowings TradePayables

OtherPayables

Group net assets of RM9.1 billion as at FY18

Exchange rate used in balance sheet for FY18: RM4.73/EUR

Exchange rate used in balance sheet for FY17: RM4.84/EUR

(RM ‘mil)

30

Net Assets (RM ‘mil)Dec 18: RM9,140.4 (+4.9%)Dec 17: RM8,715.7

Operating Statistics

32

11.7 12.0 12.7 13.0 13.0 12.5 13.0 13.1

11.8 11.9 12.0 11.7 11.4 11.8 11.8 12.3

2.1 2.5 3.1 2.5 2.5 2.8 3.5 2.9

4.5 5.3 5.9

5.3 5.3 5.6 6.2

5.2

-

5.0

10.0

15.0

20.0

25.0

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18

MY Int'l MY Domestic ISG Int'l ISG Domestic

Pax ’milKLIA Main klia2 KLIA (KUL) MASB Airports MY Airports ISG (SAW) MAHB Group

FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var %

International 22.9 22.1 3.4 20.7 20.3 2.1 43.6 42.4 2.7 8.1 7.0 15.3 51.7 49.5 4.5 11.7 10.3 12.9 63.4 59.8 6.0

ASEAN 8.8 8.5 ↑ 3.3 11.8 11.5 ↑ 3.3 20.7 20.0 ↑ 3.3 4.8 4.2 ↑ 14.0 25.5 24.2 ↑ 5.2

Non-ASEAN 14.0 13.6 ↑ 3.4 8.9 8.9 ↑ 0.5 22.9 22.4 ↑ 2.3 3.3 2.8 ↑ 17.3 26.2 25.2 ↑ 3.9

Domestic 5.3 6.2 (14.7) 11.1 10.0 11.8 16.4 16.1 1.7 31.0 31.1 (0.2) 47.4 47.2 0.4 22.4 21.0 6.7 69.8 68.2 2.4

Total 28.1 28.3 (0.6) 31.9 30.3 5.3 60.0 58.6 2.4 39.1 38.1 2.6 99.0 96.6 2.5 34.1 31.3 8.8 133.1 128.0 4.0

Passenger movements: Home-based carriers continue to introduce new routes

Total MAHB network of airports registered 4.0%growthThere has been an increase in intra-domesticpassenger movements among non-KLIA airportswhich used to flow significantly through KLIA in thepast. There has also been an increase in directinternational services to non-KLIA airport which hasreduced some movements through KLIAPositive developments in Turkey continued, with an8.8% increase total passenger for FY18, contributedby international passenger traffic growth of 12.9%

New destinations for home-based carriers in FY18

AirAsia/AirAsiaXKUL-JaipurKUL-MaléKUL-Hua HinKUL-SilangitKUL-ChangsaKUL-Phu QuocKUL-Tainjin

Pax ‘mil

Malindo Air BKI-ChengduBKI-ChangshaBKI-GuangzhouBKI-TianjinBKI-SingaporeBKI-TawauBKI-Kuching

*

*MASB Airports refers to the 38 Malaysian airports other than KLIA/KUL operated by Malaysia Airports Sdn Bhd

BKI-NanningBKI-WuhanPEN-Banda AcehPEN-NanningIPH-MedanLGK-ChengduLGK-Kunming

Malaysia AirlinesKUL-Brisbane

Pegasus AirlinesSAW-BingolSAW-DammanSAW-NurenbergSAW-MuscatSAW-JeddahSAW-SharjahSAW-RotterdamSAW-Usak

LGK-GuiyangSZB-SilangitKUL-MelbourneKUL-LabuanKUL-AmritsarKUL-KolkataKBR-Surat Thani

Turkish AirlinesSAW-DammanSAW-BahrainSAW-Doha

KUL-KuantanPEN-HanoiPEN-PhuketIPH-Johor BahruIPH-SGBKI-MacauBKI-Kunming

KCH-TawauAOR-Johor Bahru

AnadolujetSAW-Batman

0.0

50.0

100.0

150.0

KLIA SabihaGokcen

Delhi Incheon Jakarta Ataturk Changi Beijing Bangkok Heathrow Sydney Hong Kong

58

.6

31

.3 63

.5

62

.1

62

.5

64

.1

62

.2 95

.8

60

.9

78

.0

43

.3 72

.9

60

.0

34

.1 69

.9

68

.3

66

.9

68

.0

65

.6 10

0.9

63

.4

80

.1

44

.4 74

.7

12M17 12M18

33

+6.0% +2.5%

Global airport peers are also impacted by geopolitics and macro factors

+2.4%Pax ‘mil +7.1%+10.0% +5.5%+10.1% +2.5%

Source: Various airport websites, IATA

+4.1%+8.8%

Source: IATA: Robust passenger demand and a record load factor in 2018 (7th February 2019)

+5.4% +2.7%

• Industry-wide revenue passenger kilometers (RPKs) grew by a robust 6.5% in 2018 as a whole, slightly below the 8.0% rate of 2017

• The moderation in traffic came alongside growing signs of slowing global economic expansion in the second half of 2018

• Capacity grew at a slower pace than traffic in 2018 and the passenger load factor increased to a record high of 81.9%• Although passenger demand has moderated, 2019 is still looking robust in the face of economic uncertainty

Global Drivers

34

ATM’000KLIA Main klia2 KLIA (KUL) MASB Airports MY Airports ISG (SAW) MAHB Group

FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var %

International 151.6 147.3 2.8 123.4 119.6 3.1 274.9 266.9 3.0 73.9 64.2 15.1 348.9 331.1 5.4 83.2 76.4 9.0 432.1 407.5 6.0

Domestic 49.6 55.0 (9.8) 74.1 64.1 15.7 123.8 119.1 3.9 391.1 397.9 (1.7) 514.9 517.0 (0.4) 141.5 134.6 5.2 656.5 651.6 0.8

Total 201.2 202.3 (0.6) 197.5 183.7 7.5 398.7 386.1 3.3 465.0 462.1 0.7 863.8 848.1 1.9 224.7 210.9 6.6 1,088.6 1,059.0 2.8

Aircraft movements: Foreign carriers continue to add new services and routes

ATM ‘000

Airline Routing Frequency EffectiveNew Airlines

Xiamen Air Beijing-BKI Daily 16/1Wings Air Pontianak-KCH 14x weekly 24/1Bassaka Air Phnom Penh-KUL Daily 31/1Scoot Singapore-KUA 3x weekly 2/2Qatar Airways Doha-PEN 3x weekly 6/2Wings Air Pontianak-MYY 7x weekly 15/3Citilink Indonesia Jakarta-PEN 7x weekly 25/3Wings Air Medan - MKZ 7x weekly 20/4Pobeda Airlines Moscow-SAW 7x weekly 21/9Pobeda Airlines St. Petersburg-SAW 7x weekly 28/10Citilink Indonesia Surabaya-PEN 7x weekly 1/11Condor Frankfurt-KUL 3x weekly 2/11Indigo Delhi/Bangalore-KUL 7x weekly 15/11Citilink Indonesia Banyuwangi-KUL 3x weekly 19/12

Royal Brunei Bandar Seri Begawan-KCH

2x weekly 28/12

New ServicesWataniya Airways Kuwait-SAW Daily 25/3Emirates Dubai-SAW 5x weekly 8/6Thai Airasia Don Mueang-BKI 3x weekly 16/8Xiamen Air Xiamen-BKI 4x weekly 28/10

Additional FrequenciesChina Southern Guangzhou-PEN 7x to 14x weekly 1/6China Airlines Taipei-PEN 6x to 7x weekly 7/6Qatar Airways Doha-PEN 3x to 4x weekly 17/6

*MASB Airports refers to the 38 Malaysian airports other than KLIA/KUL operated by Malaysia Airports Sdn BhdATM – Aircraft Movements

*

Snap

sho

t o

f n

ew s

erv

ice

s fr

om

fo

reig

n b

ase

d c

arri

ers

in F

Y1

8

77.2 80.7 86.1 87.1 86.8 85.6 88.0 88.5

132.1 130.5 129.6 127.4 125.2 127.4 128.7 133.9

17.1 18.8 22.1 18.4 18.1 20.3 23.5 21.2

30.3 34.0 36.8

33.4 33.4 35.7 38.6

33.8

0.0

50.0

100.0

150.0

200.0

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18


Appendix A: 9M19 Financial

Highlights

35

TR³Operations

EBITDA

Headline Key Performance Indicator (KPI)

MY2

OperationsEBITDA

Airport Service Quality (ASQ)

36

1 % represents percentage of KPI achieved for the financial year² MY represents results from the Malaysian operation and overseas project and repair maintenance segment in Qatar³ TR represents consolidated results from ISG & LGM in Turkey*Non-Core Items (NCI) represents the unrealised gain on fair value of investment in GMR Hyderabad International Airport Limited (GHIAL-RM258.4mil), gain on disposal of investment in GMR Malé International Airport (GMIAL-RM28.2mil) and transaction costs related to divestment projects (RM1.1mil).


16th

9M19 Actual

RM1,816.9mil(84.0%)

RM1,073.1mil(83.9%)

RM743.9mil(80.2%)

9M18 Actual excl. NCI*

9M18Actual

RM1,964.8mil

RM1,309.7mil

RM655.1mil


12th

RM1,679.3mil(80.3%)

RM1,024.2mil(84.6%)

RM655.1mil(74.4%)


12th

EBITDA (%)¹


Top 13

RM2,163.6mil

RM1,236.1mil

RM927.5mil

FY19Target

1,000

1,500

6001,000

2019 2020 2021 2022 2023 2024 PerpetualSukuk

TR

MY

Strong credit profile resilient to economic condition

37*The dividend payout ratio is based on the adjusted net core profit of the Group

1€15m was paid in June 2019 2Non-call 10 year, fixed initial periodic distribution rate of 5.75% recognised in equity3Net Debt = Total Debt – (Cash and Cash Equivalents plus Unit Trust and Bonds)4After ISG’s floating rate swap

No. of paid-up share capital: 1,659,191,828

Shareholding Profile Borrowing Profile

Dividend Profile

160 / €35

206 / €45

710 / €155

389 / €85

550 / €120(RM / € ‘mil)

(RM ‘mil)

30 Sept 19 31 Dec 18

Net debt (RM 'mil) 3 2,162.2 2,350.3

Share of fixed-rate debt 100%4

100%4

Weighted average maturity (years) 3.69 4.45

Weighted average cost 4.09% 4.06%

Gross gearing ratio (times) 0.54x 0.56x

Credit Rating / Outlook

RAM (Reaffirmed on (19-Dec-18) AAA / Stable

Moody's (Reaffirmed on (16-Jan-19) A3 / Stable

40.0%

26.8%

33.2%

31-Dec-18

Foreign

Domestic

Financial Year

Dividend Reinvestment Plan Subscription Rate

Dividend Payment per Share (sen)

Total Amount Paid (RM' mil)

Dividend Payout Ratio*

Interim Final Interim Final Total Interim Final Total Total

2012 46.2% 85.0% 6.00 7.63 13.63 72.60 92.86 165.46 50.0%

2013 88.4% 87.6% 6.00 5.78 11.78 73.95 78.87 152.82 50.0%

2014 53.4% 74.1% 2.00 3.60 5.60 27.48 59.47 86.95 61.2%

2015 N/A N/A 4.00 4.50 8.50 66.37 74.66 141.03 58.1%

2016 N/A N/A 4.00 6.00 10.00 66.37 99.55 165.92 55.5%

2017 N/A N/A 5.00 8.00 13.00 82.96 132.74 215.69 55.1%

2018 N/A N/A 5.00 9.00 14.00 82.96 149.33 232.29 52.0%

2019 N/A N/A 5.00 TBD 5.00 82.96 TBD 82.96 50.0%

2

1

35.0%

31.8%

33.2%

30-Sep-19

Foreign

Domestic

Repayment

(RM 'mil)

9M19 9M18 Variance (%)

EBITDA excluding Non-core items (NCI) & Adjustments (Adj) 1,073.1 735.7 1,808.8 1,024.2 646.8 1,671.0 4.8% 13.8% 8.3%

NCI + Other Income - Gain on disposal of GMIAL - - - 28.2 - 28.2

NCI + Other Income - FV gain on investment in GHIAL - - - 258.4 - 258.4

Adj* + Other Income - ISG PPA interest income - 8.1 8.1 - 8.3 8.3

NCI + Other Expenses - Transaction cost - - - (1.1) - (1.1)

EBITDA including NCI & Adj 1,073.1 743.9 1,816.9 1,309.7 655.1 1,964.8 -18.1% 13.6% -7.5%

- Depreciation and Amortisation (307.1) (241.8) (548.9) (271.0) (233.2) (504.1)

Adj* - Amortisation - ISG&LGM PPA concession rights fair value - (151.2) (151.2) - (150.0) (150.0)

- Finance Costs - interest on borrowing and misc. (133.6) (70.4) (204.0) (130.4) (107.7) (238.1)

- Finance Costs - ISG utilization fee expense - (297.2) (297.2) - (313.0) (313.0)

Adj* - Finance Costs - ISG&LGM PPA interest expense - (23.2) (23.2) - (23.5) (23.5)

+ Share of Assoc. & JV Profit 20.6 - 20.6 17.0 - 17.0

Profit before Tax & Zakat including NCI &Adj 653.0 (40.0) 613.0 925.4 (172.2) 753.1 -29.4% 76.8% -18.6%

- Taxation and Zakat (126.3) 20.8 (105.5) (87.3) 33.4 (53.9)

PAT including NCI & Adj 526.8 (19.2) 507.5 838.1 (138.9) 699.2 -37.1% 86.2% -27.4%

9M19 EBITDA and PBT Reconciliation

38

Note: Included within current period retained earnings is a distribution to the perpetual sukuk holders amounting to RM43.0mil (9M18: RM43.0mil)*PPA (Purchase Price Allocation): Non-cash adjustments are in respect of the fair valuation exercise on the Turkish operations under MFRS3: Business Combinations (9M19:RM166.4mil; 9M18: RM164.7mil)

1,121.1

316.6

(41.3)58.3

632.5 505.7

44.0 40.4 65.4 20.4 132.7

478.3

91.2

355.4

26.4 14.1 7.3 -

998.3

299.3

(44.0)48.2

615.1 498.9

45.8 49.0 66.8 24.7 116.1

377.4

79.9

308.5

30.2 11.1 6.6 68.1

(200.0)

-

200.0

400.0

600.0

800.0

1,000.0

1,200.0

1,400.0

1,600.0

1,800.0

PSC & PSSC

Landing & Parking

Airline Incentive

Others Retail Rental & Royalties

Car Park Others Hotel Agriculture &Horticulture

Proj & repairmaintenance

Construction Revenue

9M18 TR 9M18 MY 9M19 TR 9M19 MY

Growth momentum from aeronautical and non-airport operations for 9M19

Non-Airport Operations (RM ‘mil)9M19: RM225.8 (+5.4%)9M18: RM214.29M19: RM218.6 (+5.3%) excluding ISG & LGM9M18: RM207.6 excluding ISG & LGM

*Included in Turkish operations’ aeronautical revenue is ISG’s jet fuel farm rental income of EUR3.6mil / RM16.8mil (1H18: EUR3.6mil / RM17.9mil)

**Included in Turkish operations’ rental and royalties is revenue generated from ISG’s duty free business with Setur of EUR28.9mil / RM135.0mil (1H18: EUR24.3mil/ RM114.2mil)

(RM ‘mil)

Non-Aeronautical (RM ‘mil)9M19: RM1,618.5 (+3.8%)9M18: RM1,558.69M19: RM1,222.6 (+1.1%) excluding ISG & LGM9M18: RM1,208.8 excluding ISG & LGM

39

Aeronautical (RM ‘mil)9M19: RM2,024.4 (+15.1%)9M18: RM1,759.19M19: RM1,454.9 (+11.8%) excluding ISG & LGM9M18: RM1,301.8 excluding ISG & LGM

Construction Revenue (RM ’mil)

***Inclusive of MARCS PSC and MARCS ERL

**

*

***

Main revenue items are Passenger Service Charge and ISG introduced PSSC of EUR3 for departing international pax.

Key drivers include strong international pax growth and higher contract billings from Qatar

361.6

119.4 120.9

476.2

309.0

195.5 336.9

84.6

40.3

20.5

63.6

120.9

-

330.9

111.2 94.6

440.8

262.2

189.3 307.5

127.6

31.0

15.8

55.1 74.6

68.1

-

100.0

200.0

300.0

400.0

500.0

600.0

Direct Materials Direct Labour Direct Overheads Staff costs Utilities & comm Maintenance User Fee Others Construction Cost

9M19 MY 9M19 TR 9M18 MY 9M18 TR

Operating Costs (RM ‘mil)9M19: RM1,647.6 (+9.5%)9M18: RM1,504.09M19: RM1,402.2 (+5.6%) excluding ISG & LGM9M18: RM1,327.5

Operating cost profile centred around fixed costs with the exception of User Fee

Direct Costs (RM ‘mil)9M19: RM601.9 (+12.2%) excluding ISG & LGM9M18: RM536.7(RM ‘mil)

40

Construction Cost (RM ’mil)

Main operating cost components are staff, utilities and maintenance.Revenue share with GoM for 9M19 is 12.13%, recognized as user fee.Direct costs relates to retail and project & repair maintenance segments.

542.9 1,868.4

8,066.9

3,100.0

206.8 1,353.1 226.0

999.4

7,967.8

1,930.0

4,656.2

185.6

440.4 1,769.0

8,158.1

3,100.0

286.8 1,513.3 155.7

1,024.0

8,606.9

2,043.3

5,024.3 172.2

(1,000.0)

1,000.0

3,000.0

5,000.0

7,000.0

9,000.0

11,000.0

13,000.0

15,000.0

17,000.0

19,000.0

Trade Receivables Cash & Funds Intangible Assets Borrowings Trade Payables Other Payables

Sep-19 MY Sep-19 TR Dec-18 MY Dec-18 TR

Group net assets of RM9.3 billion as at 9M19

Net Assets (RM ‘mil)Sep 19: RM9,308.9 (+1.8%)Dec 18: RM9,140.7

(RM ‘mil)

41

Lower for TR due to utilisation fee payment

(EUR115.0mil)

Appendix B: 9M19 Operating

Statistics

Malaysia Airlines

KUL-KochiKUL-SoloKUL-Pekanbaru

43

KLIA Main klia2 KLIA (KUL) MASB Airports MY Airports ISG (SAW) MAHB Group

9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var %

International 17.2 17.0 1.1 16.0 15.6 2.8 33.2 32.5 1.9 6.2 6.0 3.5 39.4 38.6 2.2 10.4 8.7 19.7 49.9 47.3 5.4

ASEAN 6.7 6.7 (0.1) 9.3 8.8 5.4 16.0 15.5 3.0 3.7 3.6 2.9 19.6 19.0 3.0

Non-ASEAN 10.5 10.3 1.9 6.7 6.7 (0.6) 17.2 17.1 0.9 2.6 2.5 4.4 19.8 19.5 1.4

Domestic 4.2 4.0 6.7 8.7 8.2 6.9 13.0 12.2 6.8 25.6 22.9 11.7 38.6 35.1 10.0 16.2 17.2 (5.7) 54.8 52.2 4.8

Total 21.4 21.0 2.2 24.7 23.7 4.2 46.2 44.7 3.3 31.8 28.9 10.0 78.0 73.6 5.9 26.7 25.9 2.9 104.6 99.5 5.1

Passenger movements: Home-based carriers continue to introduce new routes

Total MAHB network of airports registered 5.1% growthThere has been an increase in domestic passenger movements by10.0% for MAHB airports excluding ISG. Furthermore, there hasalso been an increase in direct international services to MASBairports which has reduced some movements through KLIAPositive developments in Turkey continued, with an 2.9% increasetotal passenger for 9M19, contributed by international passengertraffic growth of 19.6%

Pax ‘mil

*


New destinations for home-based carriers in 9M19

AirAsia/AirAsiaX

KUL-Taipei-OsakaKUL-FukuokaKUL-Can ThoKUL-QuanzhouKUL-Lanzhou

Malindo Air

KUL-Denpasar-AdelaideKUL-HokkaidoKUL-ZhengzhouKUL-ChengduKUL-Sydney

BKI-BTUBKI-SBWBKI-Bandar Seri BegawanMKZ-PEN

KUL-VaranasiLGK-PhuketBKI-SDKMKZ-LGKMKZ-KBR

Pegasus

SAW-RiyadhSAW-BasraSAW-EindhovenSAW-ManchesterSAW-Venice

13.0 12.5 13.0 13.2 13.1 12.9 13.4

11.4 11.8 11.8 12.3 12.3 12.9 13.4

2.5 2.8 3.5 2.9 3.0 3.4 4.1

5.3 5.6 6.2

5.2 5.1 5.3 5.8

-

5.0

10.0

15.0

20.0

25.0

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19


SAW-Casablanca

44

.7

25

.9

51

.0

52

.3

47

.2

48

.7 60

.5

32

.8

75

.4

56

.0

46

.2

26

.7

53

.6

54

.3

48

.5

50

.0 61

.0

32

.8

75

.2

55

.4

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

KLIA Sabiha Gokcen Incheon Delhi Bangkok Changi Heathrow Sydney Beijing Hong Kong

9M18 9M19

Source: Various airport websites, IATA

44

+2.7%

Economic backdrop remains less supportive globally

+3.3%Pax ‘mil +2.8%+3.7% +0.7%+5.1%+2.9%

Source: IATA: Air Passenger Market Analysis (7 November 2019)

-0.1% -0.2%

▪ Industry-wide revenue passenger kilometres (RPKs) increased by 3.8% over the year to September, a broadly unchangedpace from August. The moderate upward trend in underlying demand remains firmly in place.

▪ Despite some recent improvements across key economies, including China, Japan and Brazil, the global compositePurchasing Managers’ Index (PMI) continues to trend sideways – an indication that any sharp uptick in RPKs is unlikely inthe near-term.

▪ Asia Pacific carriers flew 3.6% more international RPKs in September than a year ago. The pace remains well below that of2018 amidst a weaker economic backdrop in some of the region’s key economies.

Global Drivers

-1.0%

Airline Routing Frequency Effective

New ServicesCitilink Indonesia Surabaya-KUL 4x weekly 30/1Thai Airasia Chiang Rai-KUL 4x weekly 31/1Citilink Indonesia Jakarta-KUL 4x weekly 26/2Air Busan Daegu-BKI 4x weekly 15/5Air Busan Busan-BKI Daily 22/5Batik Air Jakarta-PEN Daily 29/5Kuwait Airways Kuwait-SAW Daily 01/6Indigo Chennai-KUL 14x weekly 15/7Air Arabia Maroc Tangier-SAW 2x weekly 4/7

New Airline

Ariana Afghan Airlines

Kabul-SAW 2x weekly 09/4

Jazeera Airways Kuwait-SAW 3x weekly 15/6Royal Air Maroc Casablanca-SAW Daily 25/6Air Arabia Sharjah-KUL Daily 1/7Scoot Singapore-KBR 3x weekly 2/7Salam Air Muscat-SAW 2x weekly 3/7

Snapshot of new services from foreign based carriers in 9M19

45

KLIA Main klia2 KLIA (KUL) MASB Airports* MY Airports ISG (SAW) MAHB Group

9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var %

International 109.3 112.7 (3.0) 95.8 92.4 3.7 205.1 205.1 0.0 55.4 55.3 0.2 260.5 260.4 0.1 73.1 60.9 20.1 333.7 321.3 3.8

Domestic 39.3 37.0 6.2 57.9 54.4 6.5 97.2 91.4 6.4 302.9 289.4 4.7 400.1 380.8 5.0 100.0 107.5 (7.0) 500.1 488.3 2.4

Total 148.7 149.8 (0.7) 153.7 146.8 4.7 302.4 296.5 2.0 358.3 344.7 3.9 660.7 641.3 3.0 173.1 168.4 2.8 833.8 809.6 3.0

Aircraft movements: Foreign carriers continue to add new services and routes

ATM ‘000


87.0 85.6 88.0 88.5 85.2 86.2 89.3

125.4 127.4 128.7 133.9 128.7 132.8 138.7

18.1 20.3 23.5 21.2 21.4 24.2 27.6

33.4 35.7 38.6 33.8 31.8 33.0 35.2

0.0

50.0

100.0

150.0

200.0

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19


Notes

46

Notes

47

MALAYSIA AIRPORTS HOLDINGS BERHAD

MALAYSIA AIRPORTS CORPORATE OFFICEPERSIARAN KORPORAT KLIA

64000 KLIASEPANG, SELANGOR

www.malaysiaairports.com.my

TEL: +603-8777 7000 FAX: +603-8777 7776EMAIL: [email protected]

Documents

Malaysia Airports Holdings Berhadmahb.listedcompany.com/misc/presentation/2019/Malaysia_Airports_Holdings_Berhad_2.pdfDisclaimer This presentation may contain forward-looking statements