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SEMBCORP REPORTS UNDERLYING NET PROFIT OF S$369 MILLION, STRENGTHENS EARNINGS PLATFORM WITH ALINTA

• Interim dividend of 11.0 cents per share, an increase from 9.0 cents per share in 1H2025, reflecting confidence in the Group’s future performance
• Stronger performance expected in 2H2026, supported by Alinta, improved Singapore earnings prospects and higher land sales

Singapore, August 13, 2026 – Sembcorp Industries (Sembcorp) delivered underlying Group net profit of S$369 million for the first half of 2026 (1H2026), compared with S$491 million in 1H2025. On a pro forma basis, assuming the acquisition of Alinta had been completed on January 1, 2026, Group underlying net profit for 1H2026 would be S$558 million.

Underlying net profit for the Gas and Related Services segment was S$285 million compared with S$330 million in 1H2025. The decline was mainly due to lower earnings in the UK following the exit of a customer and lower generation spreads in Singapore. The segment’s earnings continued to be underpinned by its contracted position in Singapore, with 80% of Sembcorp’s contracted load secured for five years and above.

Underlying net profit for the Renewables segment decreased to S$69 million in 1H2026 from S$132 million in 1H2025. Continued curtailment, the loss of VAT refund and the transition to market-based pricing in China weighed on the performance of the segment. In addition, weaker wind and solar resources resulted in lower generation output during the period. 
 
The Integrated Urban Solutions segment delivered an underlying net profit of S$62 million, compared with S$74 million in 1H2025, mainly due to the absence of contribution from SembEnviro following its disposal in 1H2025. The Urban business continued to build its portfolio during the period, securing six additional industrial park projects in Vietnam and expanding its ready-built facilities portfolio.

Reported Group net profit was S$150 million, mainly reflecting one-off transaction costs of S$155 million related to the acquisition of Alinta, which was completed in June 2026.

INTERIM DIVIDEND

The Board of Directors announces an interim dividend of 11.0 cents per ordinary share, which will be paid on September 4, 2026. This increase of 2.0 cents per share from 1H2025 reflects confidence in Sembcorp’s future performance.

Quote from Wong Kim Yin, Group CEO of Sembcorp Industries: “We are pleased to have completed the acquisition of Alinta in June. Alinta has performed better than expected in 1H2026. Looking ahead, we expect a stronger second half performance, supported by the resilience of our diversified portfolio, contributions from Alinta and improved earnings prospects for our Singapore business. As an integrated energy player, we are well-positioned to capture structural demand growth from data centres and AI-related infrastructure. Our interim dividend of 11.0 cents per share, up 22% from last year, reflects our confidence in the Group’s future performance and our commitment to sustainable shareholder returns.”

2H2026 OUTLOOK

Sembcorp expects a stronger 2H2026 performance, supported by contributions from Alinta, improved earnings from its Gas and Related Services business, and higher land sales from the Integrated Urban Solutions segment. The Renewables business is expected to continue facing seasonal and tariff-related headwinds, although contributions from new installed capacity are expected to partially offset these impacts. Supported by its diversified portfolio and growing base of recurring cash flows, the Group expects 2H2026 underlying net profit to exceed that of 1H2026.

FINANCIAL SUMMARY

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Note: DPN FX loss: Deferred payment note foreign exchange loss

¹Pro forma financials assume the acquisition of Alinta had been completed on January 1, 2026

²1H2026 reported exceptional items (EI) totalling negative S$152 million comprised S$155 million of transaction costs relating to the acquisition of Alinta Energy and a S$3 million gain on disposal of Sembcorp Qinzhou Water Co, a municipal water business in China under the Integrated Urban Solutions segment. 1H2025 EI comprised S$142 million profit from the sale of the waste management subsidiaries in Singapore, offset by S$2 million fair value loss on contingent consideration related to a prior acquisition in India
1H2026 pro forma EI totalled negative S$227 million. This comprised total transaction costs of S$230 million, including costs incurred by Alinta prior to completion of the acquisition, partially offset by a S$3 million gain on disposal of Sembcorp Qinzhou Water Co