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25 January 2013

Q3 & 9M FY2012/13 ResultsFinancial year ending 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that could cause actual results, performance or events to differmaterially from those in the statements as originally made.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

Good revenue performance• Businesses riding on e-fulfilment growth in Singapore and region• Boost from M&A (Novation Solutions)

Pushing on with multi-year transformation• Becoming the regional leader in e-commerce logistics and trusted

communications• Significant efforts and investments required

Profit pressure• Impact of continued mail volume declines, growth in lower-margin

businesses• Higher costs, including investments into service quality and growth

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YoY % chg

RevenueOperating expenses

Underlying net profit

+14.5%+19.6%

+2.5%

Q3 FY12/13

$171.0M$133.4M

$39.8M

YoY % chg

+10.1%+13.9%

+0.5%

9M FY12/13

$476.3M$372.0M

$109.1MNet profit (5.1%)$39.5M (0.9%)$110.4M

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Group Results: Strategic Overview

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

Mail

Digital Services

Regional Logistics

e-Commerce

Retail & Fin’lServices

REGIONAL LEADER IN E-COMMERCE LOGISTICS & TRUSTED COMMUNICATIONS

Domestic and international mail networks for e-commerce

Trusted Singapore postal service provider

Secure communications channels

• Quantium Solutions as regional delivery & warehousing company

• Partners & agents to complement Quantium’s reach and capabilities

• Trusted Singapore digital communications provider (e.g. vBOX)

• Regional set-up via DataPost, Novation Solutions and other partners

• Branch network in Singapore• Payment solutions

e-commerce and e-fulfilment solutions for consumers and businesses (vPOST, Clout Shoppe)

e-Commerce businesses showing good growth• In Mail, revenue from packages grew ~30% YoY• Domestic logistics’ share of e-commerce business up

from 2% to 20% YoY• Signed up ~100 new e-commerce business

customers in 2012• vPOST and Clout Shoppe revenue grew ~30% YoY

Our 5 pillars contribute

to the vision

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Note: Q3 FY2011/12 figures in italics

Revenue by business segments

Revenue by geography

Mail64.7%

(62.9%)

Retail6.9%

(7.4%)

Logistics28.4%

(29.7%)

Local82.4%

(86.5%)

Overseas17.6%

(13.5%)

• Changing revenue mix

Increasing proportion of overseas contributions

Growth in overseas contributions due to Quantium Solutions and Novation Solutions

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

Group Results: Strategic Overview

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Group Results: Q3 FY2012/13 P&L Highlights

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

$M Q3 FY11/12

Q3 FY12/13

% change

Revenue 149.4 171.0 +14.5%

Other income 13.8 12.5 (9.5%)

Operating expenses 111.6 133.4 +19.6%

Operating profit 51.6 50.1 (3.0%)

Share of profit of assoc& JVs 1.0 0.7 (32.2%)

Net finance costs 2.5 2.6 +5.2%

Income tax 8.6 8.7 +1.5%

Net profit* 41.6 39.5 (5.1%)

Underlying net profit* 38.9 39.8 +2.5%

Growth from new business areas as we continue to invest into service quality, productivity and growth

Driven by e-commerce volumes; consolidation of Novation Solutions

One-off items in miscellaneous income in both periods

Business volume growth; investment into service quality, productivity and growth

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

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Domestic mail

Revenue breakdown

International mail

Hybrid mail *

Philatelic

Segment Results: Mail Q3 & 9M Performance

* DataPost and Novation Solutions Continued letter volume decline, offset by growth in other business lines

Consolidation of Novation Solutions acquired in May 2012

Boost from e-commerce transhipment volumes in international mail business

Q3 FY12/13

$62.6M$43.8M

$10.4M

$1.3M

% change

+3.9%+37.7%

+113.0%

+27.6%

9M FY12/13 % change

$182.6M +1.8%$109.5M +19.2%

$28.4M +96.8%

$4.0M +18.1%

Revenue

Operating profit

Revenue (excl Novation)

$118.1M

$39.6M

$112.8M+20.5%

+12.7%

+15.1%$324.5M +12.3%

$107.3M +4.0%

$311.2M +7.7%

Op profit 2.0%

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Segment Results: Mail Q3 & 9M Performance

Q1 FY12/13

Q2 FY12/13

Q3 FY12/13

9M FY12/13

Mail volume – YoY % decline (2.5%) (3.1%) (1.8%) (2.4%)

Continued decline in domestic mail volume

Fifth quarter of mail volume decline (since Q3 FY11/12)

Investing in service quality and productivity even as mail volumes and costs remain under pressure

Increasing operating costs – wages, utilities, rental

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Q3 FY12/13 % change

* vPOST , Transhipment & others

Segment Results: Logistics Q3 & 9M Performance

Growth in regional e-fulfilment activities

Continued investments to develop Quantium Solutions into a total logistics solutions and e-fulfilment provider in the region

9M FY12/13 % change

RevenueOperating profit

$63.2M +10.9%$4.4M +12.1%

$175.7M +8.9%$9.7M +15.3%

Quantium Solutions

Revenue breakdown

Speedpost

Others *

$42.3M +12.1%$15.3M +4.2%

$5.7M +22.1%

$118.8M +11.6%$43.1M +2.6%

$13.8M +6.6%

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Segment Results: Retail Q3 & 9M Performance

Q3 FY12/13 % change

Continued revenue growth in financial services and e-commerce activities

* Excluding inter-segment

9M FY12/13 % change

RevenueOperating profit

$21.1M +19.8%$2.7M +12.6%

$57.6M +12.5%$9.5M +36.4%

Retail – agency, products & others

Revenue breakdown *

Financial services

$6.0M +7.0%

$5.8M +5.9%

$16.5M +9.3%

$18.2M +13.6%

Excl new e-commerce activities 8.4%

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Operating Expenses

Q3 FY12/13 % change 9M FY12/13 % change

Operating expenses $133.4M +19.6% $372.0M +13.9%

Volume relatedLabour & relatedAdmin & other DepreciationSelling

$52.1M +29.6%$51.2M +15.1%$19.7M +13.6%$8.3M +15.0%$2.1M (9.2%)

$138.4M +19.1%$151.0M +11.9%$55.3M +14.8%$21.9M +2.1%$5.4M (8.6%)

Continued investments in service quality and growth

Spending control over non-strategic expenses

Increase in volume related expenses due to sharper growth in international shipments and peak season expenses

Focus on efficiency and optimisation measures to enhance productivity, manage costs

0%

5%

10%

15%

20%

Q1 Q2 Q3 Q4 Q1 Q2 Q3

RevenueOperating expenses

FY2012/13FY2011/12

Revenue $171.0M +14.5% $476.3M +10.1%

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Strong financial positionHealthy cash flows

Q3 interim dividend payable - 1.25 cents/share28 February 2013

Financial Position, Cash Flows, Dividend

9M FY11/12

9M FY12/13

Net cash from operating activities 125.4 129.6

Net cash from/(used in) investing activities (50.8) 24.9

Net cash used in financing activities (140.0) (110.3)

Net increase/(decrease) in cash (65.4) 44.2

Cash & cash equivalents 273.3 661.5

Mar 2012

Dec 2012

Ord. shareholders’ equity $313.0M $318.6M

Borrowings $505.7M $507.4M

Net cash $111.6M $154.1M

Net debt/(cash) plus perp. securities to equity 0.8x 0.6x

EBITDA to interest expenses 17.2x 17.6x

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Developments & Outlook

• Increased pace of execution

M&A deals announced

Innovative products and services being introduced

• Pushing on with multi-year transformation

Significant efforts and investments required

Higher capex over next 2-3 years investing into service quality, technology and productivity

M&A deals completed/announced in FY2012/13

Famous Holdings, Singapore

General Storage (Lock+Store), Singapore

Dash Logistics, Vietnam

Novation Solutions, Hong Kong

SingPost – Ready for the Future

Parcel stations

“The Regional Leader

in e-Commerce Logistics

and Trusted Communications”

ScanDelight

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