SATS Ltd.

Hi everyone, I'm Carolyn from Communications. Welcome to another section of SETS' website. It has been an exciting year as we have posted our 4Q and 4Y results on SCX and SETS' website. With me here are Terry Mock, PCEO, Manfred Seer, CFO, and Timothy Chang, CFO, to take you through the results. Before I start, I would like to bring your attention to the forward-looking statements currently on the screen. I'll now hand over the floor to Kerry to get the ball rolling. Kerry, over to you.

Thank you everybody and appreciate you guys all taking time for this results announcement. But before I start, I thought I'll just take some time to say something. As you all know, Manfred, this will be Manfred's last call as a CFO. And all you know that since I became CEO, Matthew and I have been partners in crime. He has done a lot for SADS and it's through his leadership that we've gone through this significant transformation and frankly played a very pivotal role in the acquisition and integration of BFS. And really, I've got to say, through his disciplined approach, helped us with a lot of financing and some of the stuff I'll say later, a lot has got to do with Manfred. But Manfred is not leaving us. He's just transitioning to a different role. He's going to be a special advisor, still helping with some of the key corporate projects. So as investors and analysts, you'll be pleased to know that we're still having his knowledge and skill set with us. Of course, at the same time, I want to just introduce Timothy, Tim, or I call him for short, the CFO designate. So after the AGM, Tim will take over as a new group CFO. I look forward to working closely with Tim as we continue to grow our business and really grow into a true multinational company that's headquartered here in Singapore. Once again, Manfred, thank you very much for all the effort and outstanding service to SETS. Thank you, Henry. Okay, and then I'll go and jump into the meeting proper. I'm pleased to announce that the full-year profit has quadrupled to $243.8 million year-on-year. This is a good set of results, all thanks to the team around the world for really pulling in and getting our profitability contract. Fourth quarter itself is almost $39 million. That's about a $6 million year-on-year improvement. I think I'm pleased to say that revenue-wise, We have grown 13% year-on-year. This is a nice growth trajectory. Even with such a big revenue base, it's one of our big growth, organic growth that we have shown on a year-on-year basis. EBITDA has expanded. Now it's crossed a billion, and that's almost 33% year-on-year growth. The fourth quarter itself is also expanded as well to about $260 million Very pleasing for us is actually the free cash flow. Again, we end the year with almost $230 million of free cash flow. If you recall last year, we were negative about almost $50 million. So that's a huge turnaround and really it's down to how we improve our profitability and how we are managing our capital expenditure as well. The four-point synergy, you know, we started with, when we first did the acquisition, we announced a, or we set a target for ourselves of 100 million of EBITDA synergies over a five-year timeframe. I'm pleased to say that after two years, we have really hit 103 million in EBITDA synergies. And that's really driving our financial performances as well. And again, something that through the integration efforts of the team, we have been able to achieve that in two years. Again, very outstanding performance from a team to actually hit those targets. And the last bit, our proposed final dividend of 3.5 cents per share, and that will bring us to 5 cents for the whole year. And again, this is part and parcel of us trying to share the gains with our shareholders. As we continue this growth path, we hope that this number will continue to grow as we continue to be more profitable. On the bottom hand side, you can see all the statistics both from the fourth quarter as well as year-on-year. Again, across flights, cargo and meals, it's all shown tremendous growth on a year-on-year basis. So again, very pleased to have this set of growth numbers.

I'll go to the next slide.