Corporate Update

1Q FY2014 Financial Results

9 May 2014

2

On Track To Fulfil Our Transformation Strategy

Record unbilled sales of RM2.4bn provides strong earnings visibility

RM3.0bn new launches in FY14, targeting sales of above RM2bn

> 40% new launches in landed residential products; stronger bias towards Greater KL and Penang markets

Manageable net gearing of 0.54x. De-gearing initiatives to further strengthen balance sheet

Sustain growth momentum with continuing focus to unlock value through development activities and land sales

To Be A Premier Property Group In Malaysia

3

Corporate Snapshot

FYE 31 DECEMBER 2013

Revenue RM1,475.5 (+134.1%) Net Gearing 0.55x

PBT RM503.6m (+123.9%) Total Assets RM5,425.7m

PAT/MI RM362.3m (+111.7%) Net Assets / share RM2.32

PBT margin (%) 34.1% ROA (%) 6.7%

Net EPS * 34.3sen ROE (%) 14.1%

Gross DPS 4.5sen (interim)

* Based on weighted average share base of 1,056m shares

* as at 17 March 2014

SHARE INFORMATION

Share price RM1.59

Issued Capital (shares) 1,365.6m of RM1 each

Market capitalisation RM2,171 million

Listing Main Board, Bursa Malaysia

Major shareholder Tan Sri Dato’ Danny Tan (70.5%)

3% 10-Yr RCULS : Nominal value outstanding*

RM76.3m

Warrants (2009/2019)* 154m convertible @ RM1 each

1Q FY2014 Financial Review

Financial results of corresponding quarter in FY13 incorporated land sale revenue of RM126m and PBT gain of RM43.3m

Adjusting for the impact of land disposal for comparison purposes

1QFY14 revenue was up 66.9%

1QFY14 PBT was 5.5% higher

1QFY14 net EPS at 0.7 sen

5

1Q FY14 Financial Snapshot

FYE Dec 31RM m

1QFY14 1QFY13 % chg FY13

Revenue 299.1 305.3 -2.0% 1,475.5

PBT 24.8 66.8 -62.9% 503.6

PATMI 7.8 43.8 -82.3% 362.3

Net EPS ^ 0.7 5.5 -87.3% 34.3

PBT margin 8.3% 21.9% 34.1%

PATMI margin 2.6% 14.3% 24.6%

^ Based on weighted average share base of 1,192.8 m shares for 1Q FY14 and 797.1 m shares for 1Q FY13

1QFY14 revenue growth underpinned by

Construction progress at key ongoing projects

• Tropicana Cheras, Tropicana Avenue, Tropicana Danga Bay (Tropez) & Tropicana Gardens

• Newer project, Tropicana Metropark also beginning to contribute

Consolidation of Tenaga Kimia Sdn Bhd as a subsidiary from May 2013 onwards

Modest increase in 1QFY14 PBT (ex-land sales) due to higher finance cost and administrative overheads

PBT margin expected to improve in subsequent quarters

Higher finance cost being addressed through aggressive ongoing de-gearing initiatives

Improved absorption of administrative overheads once construction progress at key ongoing projects reach a more advanced stage

6

Review of 1Q FY14 Financial Results

Net assets per share of RM1.90

Increase in non current assets and liabilities due to completion of Tropicana Aman acquisition

Improvement to net gearing on the cards with sizeable land disposals signed

Partial sale of Tropicana Aman land to EcoWorldfor RM471m

Sale of Jalan Bukit Bintangland for RM448m

7

Net Gearing Manageable At 0.54x

FYE Dec 31RM m

Mar 312014

Dec 312013

% chg

Non Current Assets 4,555.7 3,567.7 +27.7%

Current Assets 1,937.5 1,858.0 +4.3%

Total Assets 6,493.2 5,425.7 +19.7%

Current Liabilities 1,326.4 883.1 +50.2%

Non Current Liabilities 2,341.9 1,808.6 +29.5%

Total Liabilities 3,668.3 2,691.7 +36.3%

Shareholders’ Equity 2,824.9 2,734.0 +3.3%

Total Equity & Liabilities 6,493.2 5,425.7 +19.7%

Net Gearing (x) 0.54 0.55

Net Asset / Share 1.90 2.32

8

Raising Another RM1.05bn Through Land Disposals

Landbank Sold Acquired AcresBook Value

(RM/psf)

SalePrice

(RM/psf)Status

Gross Proceeds (RM m)

Tropicana Aman * 2013 308.72 18 35SPA signed,

pending completion471

Jalan Bukit Bintang, KL 2012 3.14 1,609 3,280SPA signed,

pending completion448

Jalan Kia Peng, KL 2012 1.45 1,338 2,100SPA signed,

pending completion132

Subtotal 1,051

* Partial disposal

RM339m raised in FY13

RM1.05bn signed and pending completion at this stage

Including partial sale of Tropicana Aman and sale of Jalan Bukit Bintang land

Sale of land at Tropicana Aman (previously known as Tropicana Canal City), Selangor to Eco World Development Group Berhad

308.72 acres for a total cash consideration of RM471m or RM35 per sqft

S & P is dated 19 March 2014; completion targeted in 2H2014

Out of the 1,172 acres, net developable area is approximately 749 acres of which 308.72 acres is sold pursuant to this proposed disposal

Transaction will give rise to net gain of approximately RM170m

Estimated incremental net EPS of 12 sen to FY14 earnings

9

Partial Disposal Of Tropicana Aman

Sale of 3.138 acres in Jalan Bukit Bintang, KL for RM448.4m or approximately RM3,280 per sq ft To Offshore Triangle Sdn Bhd (“JV Co”)

Expect completion in 1H FY15

JV Co is 70:30 owned by HK-listed Agile Property Holdings Ltd (“Agile”) and Tropicana respectively Strategic alliance with Agile allows Tropicana to also enjoy development upside

Land earmarked for mixed commercial development

Able to leverage on each other’s expertise and track record in property development for mutual benefits

Development will be marketed through Agile’s network

Strategic partnership with Agile will also further enhance Tropicana’s brand presence and visibility across regional markets including China, Hong Kong and Macau

Sales to raise net proceeds of about RM245m

Transaction will give rise to estimated gain of RM145m; incremental net EPS of 11 sen

10

Sale Of Bukit Bintang LandJV With Agile Property Holdings For Future Upside

11

Location of Bkt Bintang Land

12

Recent Transactions In The Vicinity

Subject Land

Sales & Projects Update

14

New Sales Of RM395m in 1Q FY14

Sales Summary (RM m)

1QFY14 FY13

Tropicana Grande 10 237

Tropicana Avenue 12 236

Tropicana Cheras 14 64

Tropicana Gardens 10 338

Tropicana Metropark 34 281

Tropicana Heights 102 -

Others 36 145

Tropicana Danga Bay 60 259

Tropicana Danga Cove 15 59

Penang World City 21 497

218 Macalister 73 -

Tropicana Landmark 8 44

GRAND TOTAL 395 2,160

1Q2014 New Sales Breakdown

RM m

347

967

2,160

395

>2,000

2011 2012 2013 1Q2014 2014

55%

19%

24%

2%

Central Southern

Northern East Malaysia

1,071

1,647

2,214 2,183 2,388

1QFY13 2QFY13 3QFY13 4QFY13 1QFY14

Unbilled sales sustained at high of RM2.4bn

Provides earnings visibility for FY2014/2015

15

Record Unbilled Sales At RM2.4bn

Unbilled SalesAs At 31 Mar 2014 (RM m)

Tropicana Gardens 449

Tropicana Metropark 275

Tropicana Cheras 43

Tropicana Grande 16

Tropicana Avenue 343

Tropicana Heights 103

Others 89

Tropicana Danga Bay 443

Tropicana Danga Cove 33

Penang World City 490

218 Macalister 76

Tropicana Landmark 28

Total 2,388

RM m

Targeting FY2014 new sales of more than RM2.0bn

Greater focus on landed residential and township developments

Maiden launch at Tropicana Heights well received

Tropicana Aman target for launch in 2H 2014

16

Planned Launches Of RM3.0bn in 2014

RM m Estimated FY14 Launches

Target Launch Period

FY14 Launch To DateFY2014 To Be

LaunchedLaunch Value(RM m)

Take-up Rate(%)

Tropicana Heights 646 1Q&3Q 2014 270 84% 376

Tropicana Aman 770 2H 2014 - - 770

Tropicana Gardens 429 2H 2014 - - 429

Tropicana Danga Bay 217 2H 2014 - - 217

Tropicana Danga Cove 122 2H 2014 - - 122

Penang World City 528 2H 2014 - - 528

218 Macalister 320 1Q 2014 320 39% -

GRAND TOTAL 3,032 590 2,442

Property Development

Central Region / Greater KL

18

Projects At A Glance - Central Region

18

Mar 2014Projects Summary (RM m)

Interest Total GDVPrevious Launched

GDV

OverallSales

@ Mar 2014

FY14 Launches

Remaining GDV as at Mar 2014

Tropicana Avenue 100% 600 600 82% - -

Tropicana Cheras 100% 240 240 87% - -

Tropicana Gardens 70% 2,679 635 88% 429 2,044

Tropicana Metropark 100% 7,165 830 41% - 6,335

Tropicana Heights 100% 1,726 - - 646 1,456

New Projects

The Residences 100% 1,150 - - - 1,150

Tropicana Aman 100% 13,000 - - 770 13,000

Casa Damansara 3 100% 135 - - - 135

Others 100% 430 - - - 430

GRAND TOTAL 27,125 2,305 1,845 24,550

19

Development Summary - Central Region

199 acre freehold mixed development in residential hotspot Kajang with total estimated GDV of RM1.7bn

Mixed development comprising bungalows, semi-detached, superlink, terrace, condo, serviced apartment, resident’s clubhouse & commercial development within a gated enclave

20

Central Region - Tropicana Heights

Maiden launch of terrace houses with total estimated GDV of RM646m in 2014

Launched Phase 1 in Feb 2014

289 units 2 to 3-storey terrace houses with total GDV of RM270m

Average pricing of RM870,000 with built-up from 2,135 sq ft to 3,344 sq ft

Strong response with take-up of 84% to-date

Target to launch cluster homes and terrace houses with total GDV of RM376m in 3Q 2014

21

Tropicana Heights – Phase 1

Mixed residential and commercial development on 17.6 acres in Kota Damansara with total estimated GDV of RM2.7bn

Proximity to Dataran Sunway MRT station

Arnica Serviced Residences with GDV of RM230m fully sold

BayBerry Serviced Residences with GDV of RM405m launched in Apr 2013

84% take-up rate

22

Central Region – Tropicana Gardens

Launching Tower 3 in 2H 2014

Total GDV of RM429m

Comprising 406 units serviced apartments with size ranging from 600sq ft to 1,399 sq ft

23

Tropicana Gardens

Tower 3

Tropicana Aman (previously known as Tropicana Canal City)

Sold 308 net developable acres to EcoWorld for RM471m cash

Remaining 440 net developable acres with potential GDV of RM13bn

Target to launch landed properties with an estimated GDV of RM770m in 2H 2014

Tropicana Aman will solidify Tropicana’s presence in Klang Valley

Incorporating the Group’s development DNA, emphasising on innovative concepts and its trademark features on space and greeneries

24

Central Region - Tropicana Aman

Flanked by major expressways

Nearby developments include Kota Kemuning, Putra Heights and up and coming Bukit Rimbayu

25

Tropicana Aman

Prime Location With Excellent Connectivity

26

Tropicana Aman - Masterplan

Creating a vibrant and unique self-contained community incorporating

Healthy Lifestyle

Green , Sustainable Architecture and Township

Community Living in a safe environment

27

Tropicana Aman - Masterplan

Property Development

Southern Region / Iskandar Malaysia

29

Projects At A Glance - Southern Region

SENIBONG WATERFRONT

30

Development Summary – Southern Region

Mar 2014Projects Summary (RM m)

Interest Total GDVPrevious Launched

GDV

Overall Sales @ Mar 2014

FY14Launches

Remaining GDV as at Mar 2014

Tropicana Danga Bay 60% 8,370 1,180 64% 217 7,190

Tropicana Danga Cove 50% 12,140 432 22% 122 11,708

Future Projects

Tropicana City Centre 100% 3,602 - - - 3,602

Tropicana Danga Lagoon 100% 2,500 - - - 2,500

TDB Hotel & Residences 60% 1,336 - - - 1,336

Tropicana Gelang Patah 100% 6,440 - - - 6,440

Senibong Waterfront 70% 3,673 - - - 3,673

GRAND TOTAL 38,061 1,612 339 36,449

Mixed integrated development on 37 acres in Iskandar Malaysia with total estimated GDV of RM8.4bn

31

Southern Region - Tropicana Danga Bay

32

Tropicana Danga Bay - Masterplan Perspective

Tropez Residences, high-end condominium project

Comprising 3 Tower Blocks with total GDV of RM685m launched in 1QFY12

94% take-up rate; non-bumi units fully sold

Bora Residences, 6 towers of serviced residences with approximately 2,200 units

Part of master development which includes 8 acres of recreational space, diverse range of facilities and the proposed Danga Bay Shopping Mall

Launched Tower 1 in Oct 2013

• 396 units of serviced apartments with estimated GDV of RM495m

• Current take-up of 44%

Planning launch of Tower 2 in 2H 2014

• 118 units of serviced apartments with estimated GDV of RM217m

33

Tropicana Danga Bay

Mixed integrated development on 227 acres in Iskandar Malaysia with total estimated GDV of RM12.1bn

Oasis 1 & 2, comprising 290 units of 3 to 4-storey shop offices with GDV of RM432 million

Overall take up of 36% with Oasis 1 fully taken up

Planning launch of Oasis 3 in 2H 2014

62 units of 3 to 4-storey shop offices with total estimated GDV of RM122m

34

Southern Region - Tropicana Danga Cove

Property Development

Northern Region / Penang Island

36

Projects At A Glance - Northern Region

PENANG WORLD CITY

TROPICANA218

MACALISTER

37

Development Summary - Northern Region

Mar 2014Projects Summary(RM m)

Interest Total GDVPrevious Launched

GDV

Overall Sales @ Mar 2014

FY14 Launches

Remaining GDV as at Mar 2014

Penang World City 55% 10,086 620 93% 528 9,466

Tropicana 218 Macalister 100% 320 - - 320 -

GRAND TOTAL 10,406 620 848 9,466

Integrated waterfront city on 102.6 acres freehold land with total estimated GDV of RM10.1bn

Strategically located at the gateway of Penang Island

38

Northern Region - Penang World City

Tropicana Bay Residences, comprising 6 blocks of high-end condominiums

Successfully launched 4 blocks with GDV of RM620m in Sep 2013

• Fully taken up

Launching Block E in 2H 2014, comprising 167 units with estimated GDV of RM122m

• Average pricing of RM730,000 with built up of 900 sq ft

Planning to launch one block of high-rise residences in 2H 2014

Estimated GDV of RM318m

39

Tropicana Bay Residences @ Penang World City

33-storey lifestyle development in the heart of George Town

Featuring neo suites, serviced apartments, retail shops and 200-room hotel to be managed by ’Courtyard by Marriott’ – the first in Malaysia

Total estimated GDV of RM320m

40

Northern Region - Tropicana 218 Macalister

Launched over Jan / Feb 2014 with encouraging response

299 units of serviced residences and neo suites with total GDV of RM290m

• Current take-up at 39%

19 retail units with GDV of RM30m

• Pricing from RM520k to RM5.0m with built-up of 323 sq ft to 2,000 sq ft

• Current take up of 41%

41

Tropicana 218 Macalister

Prospects & Outlook

Land sales and development activities to continue driving growth in FY2014

High unbilled sales of RM2.4bn underpins growth in development earnings

• Earnings momentum to improve as construction of ongoing projects progresses to more advanced stage

Target to achieve new sales of more than RM2.0bn in 2014 from planned launches of RM3.0bn in FY2014

Greater emphasis on landed residential and township developments

Maiden launch of Tropicana Heights and Tropicana Aman

• Strong response for initial launch in Tropicana Heights

Continue with de-gearing focus to strengthen balance sheet

43

Sustaining Growth In FY14

2014 New Launches of RM3.0bn

61%11%

28%

Central Southern Northern

Strategic landbanks across Greater KL, Iskandar Malaysia & Penang Island

Strong potential for unlocking value through development activities and land sales

44

Landbank of 1,954 acres with potential GDV of RM70.5bn

Breakdown by GDVBreakdown by Acreage

Total 1,954 acres Total GDV of RM70.5bn

61%

34%

5%

Central Southern Northern

36%

51%

13%

Central Southern Northern

45

Transformation Into Premier Property Group

• Realising value of our sizeable landbank

• Accelerating inventory sales and fast tracking new launches

• Enhancement of profit margin through value engineering; and harnessing synergies via centralised procurement and shared services

Unlocking Value Through Development

• Pursue land sale opportunities to accelerate and enhance returns to shareholders

• Target sustainable disposal strategy to generate recurring income stream

Unlocking Value Through Land Sales

•Accelerate de-gearing via disposal of land parcels and none-core investment assets

•Target to achieve long term net gearing of < 0.5x

De-Gearing Initiatives

• Forming strategic partnerships at projects level to accelerate growth

Strategic Partnerships

• Official name change to Tropicana Corporation Berhad

• Current & future projects to carry common Tropicana brandname

• Improve brand equity to command premium product pricing

• Concurrent IR rebranding to institutionalize shareholders base

Enhance Corporate Identity Via Re-Branding Exercise

Thank you

For further information, please contact :

Mr Justin Law, Corporate Finance & Investor Relations

T : +603 7710 1018 ext 408

E : ir@tropicanacorp.com.my / justin.law@tropicanacorp.com.my

W : www.TROPICANACORP.com.my

IMPORTANT DISCLAIMERThe presentation pack is intended to provide financial and management information about Tropicana CorporationBerhad (“Company”) for investors’ information only and shall not be construed as an attempt by the Company toencourage, recommend or advise any transaction and the Company makes no guarantees in any manner as to theaccuracy of its contents.

The plans, strategies and decisions of the Company in this presentation pack except those derived from actualhistorical events, are expressions of future prospects prepared based on the information and hypothesis currentlyavailable to the management of the Company and may include various risks and uncertainties which may result ina variation of the performance and records actually announced in the future.

We encourage that you make your own decision in making your investments. The Company assumes noresponsibility in any way and shall bear no liability for the results of any and all transactions conducted by youbased on the use and/or referencing of the contents in this presentation pack.

Appendix 1

Development Summary

Potential New Launches Interest TenureTotal Land

Area (acre)

Land Cost

(RM m)

Total GDV

(RM m)

Remaining GDV

@ Mar 2014

(RM m)

Development

Period

Tropicana Gardens 70% Leasehold 17.6 7.0 2,679 2,044 7 yrs

Tropicana Metropark 100% Freehold 88.5 385.5 7,165 6,335 16 yrs

Tropicana Heights 100% Freehold 198.5 235.8 1,726 1,456 11 yrs

Tropicana Danga Bay 60% Freehold 37.3 308.5 8,370 7,190 14 yrs

Tropicana Danga Cove 50% Freehold 227.0 220.0 12,140 11,708 13 yrs

Penang World City 55% Freehold 102.6 1,072.2 10,086 9,466 15 yrs

Future Projects

The Residences 100% Freehold 1.3 123.0 1,150 1,150 4 yrs

Tropicana Aman 100% Leasehold 863.1 955.5 13,000 13,000 20 yrs

Casa Damansara 3 100% Freehold 1.1 3.5 135 135 3 yrs

Others 100% Various 10.2 53.1 430 430 -

Tropicana City Centre 100% Freehold 21.9 146.0 3,602 3,602 8 yrs

Tropicana Danga Lagoon100% Freehold /

Leasehold

62.2 130.6 2,500 2,500 15 yrs

TDB Hotel & Residences 60% Freehold 6.0 85.9 1,336 1,336 4 yrs

Tropicana Gelang Patah 100% Freehold 256.6 366.6 6,440 6,440 10 yrs

Senibong Waterfront 70% Freehold 60.0 444.3 3,673 3,673 7 yrs

GRAND TOTAL 1,954 74,432 70,465

48

Summary Of Future Launches

Appendix 2

Key Personnel

50

Executive Board Members

• Entrepreneur with extensive experience in property development, resort management, restaurants, leisure and entertainment operations.

Tan Sri Dato’ Danny Tan

Group Executive Vice Chairman

• Former Group MD of Hong Leong Industries Bhd and MD of Sunway Holdings Bhd. A Chartered Accountant by profession with > 30 years of experience in corporate finance and general management.

Dato’ Yau Kok Seng

Group CEO

• Bachelor of Science (Honours) in Business Management and Masters of Science in Internal Auditing and Management. 8 years experience in corporate strategy and planning, group sales and marketing and business development.

Dato’ Dickson Tan

Deputy Group CEO

• Architect by profession with > 20 years of experience in the property development. Overseeing the property development projects for Central Region.

Edmund Kong

Group Managing Director

• Over 23 years of experience in the Asean banking and financial services industry, particularly in the areas of investment banking, corporate banking, leveraged buyout & financing, loan syndication and capital markets.

Kok Kong Chin

Group Managing Director

51

Professional Senior Management

• Bachelor of Engineering (Hons) in Civil Engineering from University of Bristol and MBA from University of Bradford. >20 years in property development : business planning, land acquisition, master planning, product & design development, tender and award, cost and cash flow management, construction management and BCA Green Mark Accreditation.

Lee Han Ming

Managing Director

Projects

• > 20 years in corporate finance, general management, investment and fund management, treasury, taxation and investor relations in several major conglomerates in the country.

Leong Choon Meng

Executive Director

Corporate Finance

• MBA from University of Bath, UK. > 20 years in property development, real estate, retail/merchandise industry, responsible for marketing strategies, planning, public relations, market research, product pricing /development and advertising & promotion activities.

Pamela Loh

Executive Director

Sales & Marketing