Genting Singapore : Annual Report 2016

CONTENTS

Genting Singapore PLC ("Genting Singapore" or "Company") was incorporated in 1984 in the Isle of Man. The Company was converted into a public limited company on 20 March 1987 and listed on the Main Board of the Singapore Exchange Securities Trading Limited on 12 December 2005. Genting Singapore is a constituent stock of the FTSE Straits Times Index and is one of the largest companies in Singapore by market capitalisation.

The principal activities of Genting Singapore and its subsidiaries (the "Group") are in the development, management and operation of integrated resort destinations including gaming, hospitality, MICE, leisure and entertainment facilities. Since 1984, the Group has been at the forefront of gaming and integrated resort development in Australia, the Bahamas, Malaysia, the Philippines, the United Kingdom and Singapore. Genting Singapore owns Resorts World Sentosa in Singapore, an award-winning destination resort and one of the largest integrated resort destinations in Asia, offering a casino, Adventure Cove Waterpark, S.E.A. Aquarium (one of the world's largest Oceanariums), Universal Studios Singapore theme park, MICE facilities, hotels, Michelin-starred restaurants and specialty retail outlets.

2016 HIGHLIGHTS BOARD OF DIRECTORS

MANAGEMENT & CORPORATE INFORMATION FINANCIAL HIGHLIGHTS & CORPORATE DIARY YEAR IN REVIEW

CORPORATE SOCIAL RESPONSIBILITY CORPORATE GOVERNANCE

REPORT OF THE DIRECTORS FINANCIAL STATEMENTS INDEPENDENT AUDITOR'S REPORT STATISTICS OF SHAREHOLDINGS

GENTING SINGAPORE ANNUAL REPORT 2016

CHAIRMAN'S STATEMENT

Dear fellow Shareholders,

The year 2016 was a year where the Asian gaming industry went through uncertainties and an unpredictable environment. Our flagship Integrated Resort business in Resorts World Sentosa "IR" went through a period of adjustment in strategy and has emerged to achieve a creditable set of results.

For the financial year ended 31 December 2016, the Group reported a revenue of $2.2 billion and an adjusted earnings before interests, tax, depreciation and amortization ("Adjusted EBITDA") of $779.0 million. Net profit for the year was $384.5 million, a significant growth on a year-on-year basis from $193.1 million in 2015.

Our net asset value per share, and cash and cash equivalents stood at 60.1 cents and $5.0 billion respectively, as at 31 December 2016.

We are attentive of creating good shareholders return. With this in mind, the Board of Directors has declared a maiden interim cash dividend of 1.5 cents per share in the third quarter of 2016. Together with a final dividend of 1.5 cents per share declared, the total dividend for the financial year ended 31 December 2016 is 3.0 cents per share, up 100% compared to the total 2015 dividend per share.

The Group continues to reward our shareholders and as a result, we will have a consistent and sustainable dividend policy moving forward.

With a subdued Asian gaming industry, we continue to exercise caution with our premium gaming customer business. In the foreign premium mass and mass market segment, we are committed to sustainable earnings growth following our efforts to enhance guests' gaming experience.

We are encouraged by the passing of the IR Promotion Bill in Japan and will be positioning the Group as a strong candidate for the bidding process. If we are successful in bidding for the Integrated Resort in Japan, this project will create significant value to the growth of the Group.

As part of our efforts in transforming Resorts World Sentosa ("RWS") into a premium lifestyle destination targeting Asia's affluent, we have created Asia's first Michelin Chef showcase restaurant, featuring different Michelin-starred chefs from around the world through its "Art at Curate" series. We are also proud to be the first Integrated Resort in the world to have achieved a total of seven Michelin stars across four of our celebrity chef restaurants. In addition, we partnered Ant Financial Services Group where we appointed Alipay as our preferred partner for China as well as the official sponsor of

S.E.A. Aquarium and Resorts World Theatre. We look forward to building our business in strategic markets through this important partnership, leveraging on Alipay's brand presence and network in Greater China.

With your unwavering support and commitment, I am delighted to see RWS named as the Best Integrated Resort for the sixth consecutive year at the Travel Trade Gazette ("TTG") Travel Awards, reaffirming our position as the go-to leisure destination.

Complementing this award, Universal Studios Singapore remained the No.1 Amusement Park in Asia while its Halloween Horror Nights event took home the second consecutive award for the "Best Leisure Event" at Singapore Tourism Awards 2016.

RWS' non-gaming businesses were resilient. The Attractions businesses continue to attract and entertain visitors from across the region while our hotels on Sentosa consistently outperform industry-wide benchmarks with occupancy rates of more than 90%. Genting Hotel Jurong ("GHJ") has been growing exponentially, recording a high occupancy rate of 94% just within one and a half years of operations. Moving forward, given the prime location of GHJ, we welcome the development of the upcoming Singapore-Kuala Lumpur High Speed Rail Terminus that will be located within the neighbourhood of the hotel.

We are in the services industry, and the hard work from all our team members are the backbone of our organisation. The Group has invested more than $1.8 million annually in developing and conducting training in an effort to further enhance our team members' skill sets. We have also organised our very first in-house Career Carnival, showcasing interesting aspects of key jobs in Attractions, Hospitality and Resort Services.

As part of giving back to the community, RWS Cares contributed to and supported with over $5.8 million in cash and in-kind donations to numerous charity organisations in Singapore, benefitting over 42,000 beneficiaries. We also hosted the inaugural Community Chest Charity in the Park at Universal Studios Singapore where 4,000 donors, beneficiaries and caregivers came together for the event, raising more than $2.3 million and benefiting more than 80 charities supported by Community Chest.

I would also like to take this opportunity to convey my utmost gratitude to all our stakeholders - team members for their dedication, management team for their leadership, Board of Directors for their guidance, and customers and business partners for their continued support. We appreciate the support, guidance and cooperation of the Singapore government and all its ministries and agencies in our continuing journey of making RWS the lifestyle vacation destination of choice in Asia. Last but not least, to all our shareholders, thank you for your confidence in our company as we continue to execute our transformational initiatives to anchor RWS as Asia's premium lifestyle destination and grow our business overseas.

Tan Sri Lim Kok Thay Executive Chairman

As we aim to enhance customers' experiences in RWS, the Group consistently seeks ways to improve our products and offerings. We have recently completed the refurbishment works at Hard Rock Hotel and are now in the process of upgrading our Maritime Experiential Museum ("MEM").

Upon completion at the end of 2017, the MEM will be transformed into a world class edutainment attraction in Singapore.

GENTING SINGAPORE ANNUAL REPORT 2016 l 5

Credits to Singapore Tourism Board

1

3

5

7

2 4

2016 HIGHLIGHTS

6

8

GENTING SINGAPORE ANNUAL REPORT 2016 l 7