Report Date and Financial Year

• The report is dated for the financial year ending 31 May 2024.

Key Facts from the Report

1. Economic Performance:

   • SLB Development Ltd. (SLB) successfully diversified its income streams and strengthened its assets portfolio in FY2024.
   • The company continues to pursue accretive acquisition opportunities that support green and sustainable assets.

2. Environmental Initiatives:

   • The company is committed to sustainable development by maximizing resource efficiency and energy conservation.
   • In FY2024, the Group achieved its energy management target, reducing energy consumption from the previous year (approximately 1,304.81 GJ in FY2024 compared to 1,421.79 GJ in FY2023).
   • Enhanced the data collection system to include petrol consumption for vehicles.
   • Climate-related risks and opportunities are regularly reviewed, aiming to integrate climate considerations into future projects by FY2028.
   • Implemented waste management strategies to reduce paper consumption, achieving a reduction in paper usage in FY2024.
   • The company’s GHG emissions were reduced in FY2024 to approximately 142.35 tonnes of carbon dioxide equivalent.

3. Social Responsibility:

   • The Group maintains a diverse workforce and achieved an annual turnover rate of approximately 15% in FY2024.
   • Focused on employee training and development, SLB provided an average of approximately 19.46 training hours per employee.
   • Maintained a 100% return-to-work rate for employees who took parental leave.
   • The company made cash donations to various organizations, showcasing its commitment to corporate social responsibility.

4. Governance:

   • Compliance with laws and regulations is a priority, with zero incidents of non-compliance reported in FY2024.
   • Zero confirmed incidents of corruption were recorded.
   • Implemented anti-corruption policies, including a whistle-blowing policy for transparency and integrity.

Dividends

• The report does not mention any dividends being declared or paid for FY2024.

Special Activities to Improve Profitability

• Completed alteration and addition (A&A) works at Thye Hong Centre to enhance short-term rental income while preparing for potential redevelopment in the right market conditions.
• Continued focus on sourcing accretive acquisition opportunities that align with the company’s sustainability drive.

Notable Points for Investors

• Sustainability Commitment: SLB’s ongoing commitment to sustainability and green initiatives is highlighted throughout the report, which could attract environmentally conscious investors.
• Financial Performance: Despite ongoing projects and market challenges, SLB remains focused on strengthening its asset portfolio and income streams.
• Risk Management: The company takes an active approach in identifying and mitigating climate-related risks, which is critical for long-term sustainability.
• Workforce: SLB invests in employee development and maintains fair employment practices, indicating a healthy internal culture.

Recommendations for Investors

1. For Current Stockholders:

   • Hold: Given SLB’s active pursuit of green and sustainable asset development, its diversified income streams, and strong governance practices, investors may consider holding the stock. The company’s focus on sustainability could lead to long-term value creation.

2. For Prospective Investors:

   • Consider Buying: With SLB’s commitment to sustainability and ongoing efforts to diversify and strengthen its portfolio, it presents a potential investment opportunity, especially for those interested in environmentally and socially responsible investing.

Disclaimer

• The above recommendations are based solely on the contents of the SLB Development Ltd. Sustainability Report 2024 and do not constitute personalized financial advice. Investors should conduct their own due diligence and consider their individual investment goals and risk tolerance before making any investment decisions.