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6 May 2013

Q4 & FY2012/13 ResultsFinancial year ended 31 March 2013

ContentsExecutive SummaryGroup ResultsSegment ResultsOperating ExpensesFinancial Position, Cash Flows, Dividend

Developments & Outlook

The following presentation contains forward looking statements by themanagement of Singapore Post Limited ("SingPost"), relating to financial trendsfor future periods, compared to the results for previous periods.

Some of the statements contained in this presentation that are not historicalfacts are statements of future expectations with respect to the financialconditions, results of operations and businesses, and related plans andobjectives. Forward looking information is based on management's currentviews and assumptions including, but not limited to, prevailing economic andmarket conditions. These statements involve known and unknown risks anduncertainties that could cause actual results, performance or events to differmaterially from those in the statements as originally made. Such statements arenot, and should not be construed as a representation as to future performanceof SingPost. In particular, such targets should not be regarded as a forecast orprojection of future performance of SingPost. It should be noted that the actualperformance of SingPost may vary significantly from such statements.

“$” means Singapore dollars unless otherwise indicated.

Forward-looking Statements – Important Note

Executive Summary

Revenue growth on Group’s transformational efforts• Organic and inorganic growth from Group’s focus on building new

revenue drivers• Domestic mail revenue declined; contributions from new business

areas and regional markets

More work ahead in transformation journey• More work and investments required in Singapore and push to become

regional leader in e-commerce logistics and trusted communications

Continuing profit pressure from higher costs• Investing to serve changing needs and enhance service quality and

productivity as mail volumes decline and Group builds new businesses• Inflationary cost pressures

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YoY % chg

RevenueOperating expenses

Underlying net profit

+25.0%+34.8%

+18.7%

Q4 FY12/13

$182.5M$160.9M

$31.8M

YoY % chg

+13.9%+19.5%

+4.1%

FY12/13

$658.8M$533.0M

$141.0MNet profit (14.6%)$26.1M (3.9%)$136.5M

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Group Results: Q4 FY2012/13 P&L Highlights

* Profit after tax attributable to equity holders of the Company; underlying net profit excludes one-off items.

$M Q4 FY11/12

Q4 FY12/13

% change

Revenue 145.9 182.5 +25.0%

Other income 14.3 10.7 (25.2%)

Operating expenses 119.4 160.9 +34.8%

Operating profit 40.8 32.2 (21.1%)

Share of profit of associated cos & JVs 0.2 1.2 >100%

Net finance costs 3.8 1.7 (54.4%)

Income tax 6.7 5.5 (17.4%)

Net profit* 30.6 26.2 (14.6%)

Underlying net profit* 26.8 31.8 +18.7%

Driven by consolidation of new subsidiaries, e-commerce growth

One-off items in miscellaneous income in previous year

Rising business costs; continued investments to enhance service quality and productivity, and growth; consolidation of new subsidiaries

Growth in business segment profits; offset by higher corporate costs for transformation and one-off items

Gaining from organic and inorganic growth on the back of Group’s transformation initiatives

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Group Results: FY2012/13 P&L Highlights

* Profit after tax attributable to equity holders of the Company; underlying net profit excludes one-off items.

$M FY11/12 FY12/13 % change

Revenue 578.5 658.8 +13.9%

Other income 50.5 48.6 (3.8%)

Operating expenses 446.1 533.0 +19.5%

Operating profit 182.9 174.4 (4.7%)

Share of profit of associated cos & JVs 0.7 2.4 >100%

Net finance costs 9.9 9.8 (1.0%)

Income tax 31.6 30.4 (3.8%)

Net profit* 142.0 136.5 (3.9%)

Underlying net profit* 135.4 141.0 +4.1%

Growth from new business areas as Group continues to invest into service quality, productivity and growth

Growth in e-commerce; consolidation of new subsidiaries

One-off items in miscellaneous income

Rising business costs; continued investments to enhance service quality and productivity, and growth; consolidation of new subsidiaries

Growth in business segment profits; offset by higher corporate costs for transformation and one-off items

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Note: FY2011/12 figures in italics

Revenue by business segments

Revenue by geography

Mail62.9%

(63.7%)

Retail7.0%

(7.4%)

Logistics30.1%

(28.9%)

Local80.9%

(87.1%)

Overseas19.1%

(12.9%)

Growing contributions from regional markets and new businesses

• Boost in overseas revenue from regional subsidiaries, Quantium Solutions and Novation Solutions

• Increasing contributions from Logistics with growing regional logistics business and new acquisitions

Moving towards being the Regional Leader ine-Commerce Logistics and Trusted Communications

Group Results: FY2012/13 Revenue Breakdown

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Segment Results: Mail Q4 & Full Year FY12/13

* DataPost and Novation Solutions Boost from consolidation of Novation Solutions acquired in May 2012

Continued decline in letter mail volumes

Growth in e-commerce package volumes in domestic and international mail businesses

Q4 FY12/13 % change FY12/13 % change

Domestic mailRevenue breakdown

International mail

Hybrid mail *

Philatelic

$60.3M$39.2M

$15.0M

$1.3M

+3.4%+23.5%

>100%

(21.0%)

$242.9M +2.2%$148.7M +20.3%

$43.4M >100%

$5.2M +5.4%

Revenue (including Novation Solutions)

Operating profit

$115.7M

$34.0M

+20.1%

+13.5%

$440.3M +14.2%

$141.3M +6.1%

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Segment Results: Mail Q4 & Full Year FY12/13

Q1 FY12/13

Q2 FY12/13

Q3 FY12/13

Q4 FY12/13 FY12/13

Mail volume – YoY % decline (2.5%) (3.1%) (1.8%) (3.1%) (2.6%)

Continued decline in domestic mail volume

Sixth quarter of domestic mail volume decline; first time annual decline of 2.6%

Transforming to meet changing postal needs – investing in postal infrastructure, productivity and service

enhancements

Continued inflationary pressures on operating costs –wages, utilities, rental

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Q4 FY12/13 % change

* Including General Storage Co, vPOST, Transhipment & others

Segment Results: Logistics Q4 & Full Year FY12/13

FY12/13 % change

RevenueOperating profit

$75.9M +40.7%$0.9M +111.1%

$251.6M +16.9%$10.7M +19.9%

Quantium Solutions

Revenue breakdown

Famous Holdings

$39.8M +13.6%$14.6M -

$158.6M +12.1%- -

Partial consolidation of Famous Holdings and General Storage Co in Q4

Continued investments to develop regional logistics business and network

Growth in regional e-fulfilment business

Others * $7.1M +62.0% $21.0M +20.6%

Speedpost $14.4M (0.7%) $57.5M +1.7%

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Segment Results: Retail Q4 & Full Year FY12/13

Q4 FY12/13 % change

* Excluding inter-segment

FY12/13 % change

RevenueOperating profit

$18.2M +0.4%$1.6M (45.3%)

$73.3M +5.7%$11.0M +12.6%

Retail – agency, products & others

Revenue breakdown *

Financial services

$6.0M +2.1%

$5.5M (4.6%)

$22.5M +7.3%

$23.7M +8.8%

Growth in e-commerce business and retail product contributions offset by decline in agency services and financial services

Investing in development of e-commerce business

SingPost mobile app

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Operating Expenses: Q4 & Full Year FY2012/13

Q4 FY12/13 % change FY12/13 % change

Operating expenses $160.9M +34.8% $533.0M +19.5%

Volume relatedLabour & related

Admin, property related Dep, amortisation & impairmentSelling

$63.7M +53.4%$54.9M +15.5%$24.3M +34.6%

$14.4M +64.7%

$3.6M +1.8%

$202.1M +28.1%$205.9M +12.9%$79.6M +20.2%

$36.3M +20.2%

$9.0M (4.7%)

Spending control over non-strategic expenses

Higher expenses with consolidation of new subsidiaries, business growth, inflationary cost pressures

Continued investments into service quality, productivity and growth

0%

10%

20%

30%

40%

Q1FY12/13

Q2FY12/13

Q3FY12/13

Q4FY12/13

RevenueOperating expenses

% growth

Revenue $182.5M +25.0% $658.8M +13.9%

Note: Operating expenses included one-off items

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Healthy cash flows

Proposed FY2012/13 final dividend - 2.50 cents/share

Financial Position, Cash Flows, Dividend

FY11/12 FY12/13

Net cash from operating activities 176.6 203.0

Net cash used in investing activities (77.4) (52.0)

Net cash from/(used in) financing activities 179.4 (140.1)

Net increase in cash 278.6 11.0

Cash & cash equivalents 617.4 628.3

Strong financial position

March 2012

March 2013

Ord. shareholders’ equity $313.0M $320.7M

Borrowings $505.7M $536.6M

Net cash $111.6M $91.8M

Net cash plus perp. securities to ord. equity 0.8x 0.8x

EBITDA to interest expenses 17.2x 16.8x

Local recognition

Achieving High Performance in the Postal Industry: Accenture Research and Insights 2013

Achieving High Performance in the Postal Industry: Accenture Research and Insights 2013

by Accenture in its latest 2013 study on “Achieving High Perform-ance in the Postal Industry”

The only Asian Post in shortlist; 1 of only 2 posts with 2 final nominations –People and Customer Service

by Postal Technology International Awards 2012

Ranked No. 1Postal Agency World Mail Awards

Service Providerof the Year Award

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Developments & Outlook

Global Leadership in Postal World

Plaque of CommendationConferred on a company that has made significant contributions towards promoting good industrial relations and workers’ training

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Developments & Outlook

Greater efforts and investments required to become regional leader in e-commerce logistics and trusted communications

• Investing to serve changing needs, enhance service quality and raise productivity: Up to $100M investments into postal infrastructure, service and operational enhancements

• Investing in growth and innovation: Rolling out innovative product and service offerings

• Continued execution of M&A strategy: Integrating and working with investee companies for growth and synergies

M&As in FY2012/13

Famous Holdings, Singapore

General Storage Co, Singapore

Novation Solutions, Hong Kong

Our Post. Future Ready.

“The Regional Leader

in e-Commerce Logistics

and Trusted Communications”

POPStation network – a new delivery channel to serve customers 24/7

The complete set of financial statements is available on SGXNET and our website at www.singpost.com.