#1& 中国电信 CHINA TELECOM 2019 Annual Results China Telecom Corporation Limited 24 March 2020 www.chinatelecom-h.com#2Forward-Looking Statements ④ 中国电信 CHINA TELECOM Certain statements contained in this document may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the U.S. Securities Exchange Act of 1934 (as amended). Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of China Telecom Corporation Limited (the "Company") to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. In addition, we do not intend to update these forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC. 2019 Annual Results | 2#3Presented by ④ 中国电信 CHINA TELECOM Mr. Ke Ruiwen Executive Director, Chairman & CEO Mr. Li Zhengmao Mr. Liu Guiqing Madam Zhu Min Mr. Wang Guoquan President & COO Executive Director & EVP Executive Director, EVP & CFO Executive Director & EVP 2019 Annual Results | 3#4④ 中国电信 CHINA TELECOM Overview Business Review and Financial Performance#5Highlights 1 2 3 4 Achieved industry-leading solid results with prominent achievements in high-quality development Deployed 5G in co-building and co-sharing with edges manifested and sound momentum Cloud-network integration enhanced capabilities and precision investment on focused areas Deepened reform along with innovation and cooperation to invigorate vitality and increase value ④ 中国电信 CHINA TELECOM 2019 Annual Results | 5#6Solid Results ④ 中国电信 CHINA TELECOM 2018 2019 Change Surpassed Service Revenue (RMB Mil) 350,434 357,610 2.0% industry average by EBITDA (RMB Mil) 104,207 117,215 12.5% 1.1p.p. EBITDA Margin 29.7% 32.8% 3.1p.p. Net Profit (RMB Mil) 21,210 20,517 -3.3% EPS (RMB) 0.262 0.254 -3.3% Adjusted Net Profit (RMB Mil) 20,110 20,517 2.0% Adjusted EPS (RMB) 0.248 0.254 2.0% Note: Unless otherwise stated in this presentation 1. Service Revenue = Operating Revenue (2018: RMB377,124 Mil; 2019: RMB375,734 Mil) - Sales of Mobile Terminals (2018: RMB18,836 Mil; 2019: RMB9,364 Mil) - Sales of Wireline Equipment (2018: RMB5,659 Mil; 2019: RMB5,226 Mil) - Other Non-service Revenue (2018: RMB2,195 Mil; 2019: RMB3,534 Mil) 2. EBITDA Operating Revenue - Operating Expenses + Depreciation & Amortization; EBITDA Margin = EBITDA / Service Revenue 3. Net Profit represents profit attributable to equity holders of the Company; adjusted net profit excluded the one-off after-tax gain of ~RMB1.1 Bil from the listing of China Tower Corporation Limited in 2018 4. All % and percentage point (p.p.) changes in this presentation are either 2019 vs 2018, or 2019.12 vs 2018.12 5. Industry's service revenue in 2019 increased by 0.9%, calculated based on figures reported by the three listed Chinese telcos 2019 Annual Results |#7High-quality Scale Development Achieved Prominent Results Mobile Subs Mil 303.00 +10.7% ④ 中国电信 Incremental Service CHINA TELECOM Wireline Broadband Subs Revenue Market Share Mil 335.57 153.13 145.79 63.1% 53.0% 45.0% 410.1p.p. 2018.12 2019.12 2018.12 2019.12 Mobile Subs Net Add Mobile Subs Market Share Market Share 19.6% Industry No.2 20.9% 41.3p.p. 43.6% Industry-leading 49.6p.p. 2018 2019 DICT Revenue RMB Mil Revenue size Industry-leading 53.2% 49,175 49.1% 53,642 2018.12 2019.12 2018 2019 2018 2019 2019 Annual Results | 7#8Note: Cloud-network Edges Enhance User Experience 315 Cloud resource pools 1.59 Mil - 80K 4G BTS 5G BTS in use ④ 中国电信 180+ CHINA TELECOM Cities Gbps-enabled Hybrid cloud market share in the PRC No.1 Cloud market share among global telcos No.1 IDC business overall ranking in the PRC No.1 Public user overall satisfaction Handset Internet access satisfaction Mobile number portability Industry-leading 1. Source of Hybrid cloud market share in the PRC and IDC business overall ranking in the PRC: China Internet Weekly, source of cloud market share among global telcos: IDC 2. Source of user satisfaction rankings: Ministry of Industry and Information Technology 3. 5G BTS in use figure is by 19 Mar 2020; other figures are by end-2019 2019 Annual Results | 00#95G hello Leverage Resource Edges to Forge Superior 5G Network ④ 中国电信 CHINA TELECOM • Co-building and co-sharing • CAPEX and OPEX▾ . Network construction time Network coverage◆ Network construction efficiency Abundant spectrum • 3.5GHz/3.3GHz/... • Contiguous 200MHz/300MHz • Outdoor vs indoor 2020 targets >300k 5G BTS in use All prefectural- level or above cities nationwide Coverage Cloud-network integration Support 5G + public cloud + MEC deployment • Bandwidth⭑ Latency Maximizing 5G technical characteristics SA leadership Pioneer to implement interconnection of SA 5G cores from different vendors • 5G/4G interoperability Coordinating multi-band spectrum unleashes capacity and coverage edges SA Commercial use • Support network slicing in SA Being the world's 1st to have SA commercialization capability 2019 Annual Results | 6#10hello 5G 5 Seize Opportunities to Fully Tap 5G Market Mobile 4G penetration 84% Industry No. 1 Premium customers Broadband/family High popularity of Smart Family service e-Surfing HD (IPTV) penetration 74% Enterprise 2B revenue to service revenue >40% High potential for 5G upgrade Innovative products Innovative membership-based "5G + privileges + 2C applications" service model for individuals; introducing exclusive ultra HD VR content Comprehensive upgrade of “5G + Gbps broadband + 2H Smart Family applications" for family informatization solutions 2B Develop 5G + digital government / smart cities/ industrial Internet and other areas by integrating edge computing, industrial PON and other new technologies Meeting the demand for informatization upgrade ④ 中国电信 5G commercialization made a promising start 5G package subs 10.73Mil 5G ARPU RMB 91.9 Note: As of end-Feb 2020 CHINA TELECOM 5G DOU 13.2GB 4G upgrade ARPU uplift 2 ~ 10% 2020: To achieve 5G scale breakthrough 5G package subs net add target 60-80 Mil 2019 Annual Results | 10#115G hello Cloud-network Integration Enhances Competitiveness ④ 中国电信 CHINA TELECOM To strengthen cloud- Targets network capabilities To build a digitalized platform based on cloud-network integration To empower customers From cloud-network coordination to integration then ultimately unification To open up ecosystems Unified cloud-network infrastructure Cloud-as-the-core: Leveraging IDC/ DC capabilities to optimize layout of cloud resource pools and various cloud applications, building a sturdy core of cloud-network integration •Leveraging cloud-network infrastructure to expedite 5G build- out and deployment . Unified cloud-network product/application Proprietary research + ecological cooperation to provide applications for use cases for various customers Digitalized platform: Integrating cloud and network capabilities to lay foundation for DICT solutions based on cloud-network unification Unified cloud-network operating system "Operation maintenance, service support, security safeguarding and API exposure" of cloud, network and terminals • Satisfying customers' demand for cloud-network services Tech capabilities Cloud-led network Ubiquitous accesses Proprietary research and control on key core capabilities such as laaS / PaaS, MEC, cloud-network operating system, digitalized API enablement platform, etc. Latency efficiency 4: With cloud-as-the-core, optimize network layout to provide premium customer rapid access to / between clouds for provisioning efficiency enhancement of cloud-network services 4G/5G/NB-IoT Fibre broadband Dedicated lines Satellite 2019 Annual Results | 11#12Bolster Cloud-network Integration Leading Edges to Tap Industry Informatization To reinforce the edge of cloud-network foundation Largest IDC service provider in the PRC >550 IDC sites, >360k cabinets, >250 CDN nodes, total outbound bandwidth of resource pools >21Tbps 2 core bases ④ 中国电信 CHINA TELECOM Cloud service provider with at lease one resource pool in every province Formed the "2+4+31+X" resource layout of cloud-network integration Cloud mainframes: ~5 Mil VCPU ✗ edge nodes 4 regional cores 31 provincial cores Inner Mongolia facility Mass data Cold data Warm data Guizhou facility Full service Fundamental business "One resource pool in every province" Warm data Hot 5G MEC / CDN/ IoT HUB/ cloud POP data CN2-DCI . Covers all local networks • nationwide • Covers 180 IDC (Parentco: covers >200 IDC) • Covers all e-Surfing public cloud resource pools OTN Covers >90 cites in flat layer (Parentco: covers >120 cities) Covers all e-Surfing public cloud resource pools Cloud-network security Dual-layer (headquarters and provincial) security structure enabling "cloud, pipe, terminal" 3-in-1 service management capability "Cloud Dam": the benchmark security product in the PRC with 6.5Tbps-grade ultra-large capacity in anti- DDoS capability 2019 Annual Results | 12#13Focus on New Growth Drivers with Precision Investment CAPEX RMB Mil CAPEX Structure ④ 中国电信 CHINA TELECOM 2019 2020E 5G Network 11.9% 53.3% 49.6% 85,000 4G Network 33.2% 8.8% 77,557 Broadband & Internet 24.7% 13.2% 9,265 Information & Application Services 14.0% 14.6% IT Support 4.1% 2.9% 45,300 Infrastructure & Others 12.1% 7.2% 41.9% 68,292 39,700 2019 2020E 5G CAPEX 5G DICT Forge brand new network edges to support scale development • 2020: CT + CU to build ~250k 5G BTS (CT: 140k), covering all prefectural-level or above cities nationwide by year end Promote SA as target architecture for network deployment • • • • 364k IDC cabinets (+41k), leading in the country 200k cloud resource pool servers to cater customers' demand of migrating to cloud Continue to optimize IDC / cloud resource pool layout and continuously expand bandwidth and reduce latency for cloud access assurance Others To implement precision CAPEX management and strict control in new CAPEX Further extract existing capacity and value of network resources and continue to enhance network efficiency 2019 Annual Results | 13#14Dividend Dividend per Share HKD 0.125 0.125 2018 2019 ④ 中国电信 CHINA TELECOM The Board of Directors recommends to the shareholders a final dividend of HKDO.125 for 2019 Going forward, the Company will seize the 5G opportunity and take and take due account into shareholders' returns, cash flow and capital requirement for future development, and continue to strengthen operation to strive to deliver good returns to shareholders and maintain the sustainability and stability of dividend 2019 Annual Results | 14#15Deepen Reform with Innovation and Cooperation to Enhance Corporate value Customer-centric market-oriented mechanisms Construct new infrastructure for cloud-network integration Simple, agile, efficiently-centralized, open and secure cloud-network operating system Share API exposure with cloud-as-the-core Cloud platform, Al, IoT platform... ④ 中国电信 CHINA TELECOM Establish strategic tech companies for vertical industries Smart cities, industrial Internet, distance education, telemedicine... Customer-front digitalized service platform Establish online sales and marketing service portal covering all customers Promotion platform coordinating all channels (020) Intelligent Big Data support platform for customer operation Opportunities 5G Digital China Smart society Cyberpower Reform + Open cooperation Innovation and R&D Corporate vitality4 + Product & service competitiveness4 Customer experience⭑ Value⭑ 2019 Annual Results | 15#16Continue to Promote High-quality Development with Multi-pronged Measures ④ 中国电信 CHINA TELECOM 15Mil 60Mil - 80Mil Propel cloudification Refine intellectual operation Premium and secure services Professional talents Expedite reforms 2020 measures Strengthen ecological cooperation Cloud-network integration to construct a unified cloud-network infrastructure, operating system and product / application To enhance corporate core capabilities and invigorate contacts between channels and customers To strengthen the system and capabilities of network information security; protect key information infrastructure; expand network information security products, services and ecosystems To reinforce team building and promote corporate strength through talents Persist in market-oriented principles, to innovate incentive systems to thoroughly motivate staff's proactiveness, initiative- taking and creativity To focus on key areas and build foundation with API exposure 2020 Key Targets Mobile subs net add Incl.: 5G package subs net add Broadband subs net add DICT revenue Service revenue Net profit Dividend 5Mil Double-digit growth Maintain healthy growth Strive to maintain profitability Stable 2019 Annual Results | 16#17④ 中国电信 CHINA TELECOM Overview Business Review and Financial Performance#18Mutual Development of Fundamental & New Businesses to Drive Value Industry-leading mobile scale development Mobile service revenue 44.7% Industry- leading In which: Handset Internet access revenue +10.8% Industry- leading ④ 中国电信 CHINA TELECOM Internet Finance mutually developed with fundamental business "Orange Instalment Payment Service" A personal finance product by China Telecom, providing instalment payment service for customers' mobile phone purchases No. of Orange Instalment contracts 8.05Mil 452.2% Each Orange Instalment business drives 1.2 mobile subs new add Mobile subs net add 32.57 Mil Industry- leading 2020 4G DOU 7.9GB +43.6% Tap 5G-based new markets Mobile business: 5G to drive user experience enhancement, scale development, innovation and cooperation, terminal-led strategy, and deeper subs monetization • Internet Finance: To fully develop physical, online and enterprise sales channels, enhance capability to monetize financial service use cases 2019 Annual Results | 18#19Smart Family Delivered Pronounced Results and Becoming New Growth Driver Family informatization applications expanded to form meaningful scale Rapid growth in application adoption Family Cloud subs 41.10Mil e-Surfing Webcam subs 1.46Mil Whole-home WiFi services delivered 17.91 Mil Smart Family platform connected devices 120Mil Steady increase in access volume Wireline Broadband subs 153 Mil e-Surfing HD (IPTV) subs 113Mil ④ 中国电信 CHINA TELECOM Fast growing Smart Family services revenue Smart Family applications and services revenue RMB1.2 Bil 463.2% Broadband blended ARPU 2H19 vs 1H19 decline rate narrowed by 6.1p.p. Note: Smart Family applications and services include whole-home WiFi, Family Cloud, etc. 2020 Expand Smart Family scale to reshape edges •Service upgrade: To move sales and marketing service online, upgrade whole-home WiFi service to WiFi 6, e-Surfing Webcam upgrade with Al functions • Connected devices platform upgrade: Smart Family IoT platform to conjoin with loT platform to extend Smart Family's reach to smart community •Content platform upgrade: To build content ecosystem by cooperation, strengthen the operating capability of Smart Family video content system 2019 Annual Results | 19#20Continue to Solidify Leading Edges of Enterprise Businesses Rapid growth maintained in key businesses ④ 中国电信 CHINA TELECOM Focus on key areas to cultivate 5G+ cloud+DICT ecosystem IDC revenue Cloud revenue Abundant RMB 25.4 Bil RMB 7.07 Bil use cases 48.7% IoT revenue RMB 1.87 Bil +21.7% 457.9% Projects signed 78k 463% Industrial ecosystem a Media live Industrial Video Smart broadcast Internet surveillance healthcare Smart campus Smart logistics Smart Eight key areas energy 100+ use cases Smart transportation Founded 5G Industry Innovation Alliance with 100+ members Established 5G open labs in three locations • Set up 50 5G United Innovation Centres, preparing for >60 more Commercial use demand & innovation achievements • >1,600 vertical industry customers signed • >30 innovative showcase projects won awards in 5G competitions at provincial level or above Case 1: Huoshenshan Hospital and Leishenshan Hospital, Wuhan- "Cloud construction supervision" and telemedicine 2009年04月30日 星期日 18 • Worked with CCTV for HD live broadcast of Professional capabilities continued to enhance Organizational reform to build professional teams: Formed four professional business development teams dedicated for digital government, industrial Internet, smart cities and healthcare sectors • Mechanism reform to enhance professional capabilities: Cloud platform and proprietary product development; API exposure of IoT platform and application aggregation; cross-platform & multi-service integration Case 2: A globally leading white goods manufacturer "5G+ cloud" smart factory project Applied 16 5G industrial Internet use cases the construction of Huoshenshan Hospital and Leishenshan Hospital, with online viewership >110 Mil • Supported telemedicine service of Huoshenshan Hospital Case 3: A large institutional customer Nationwide 5G "mobile office" project Aggregated "5G + secure VPDN + e-Surfing Cloud+ proprietary platform + Big Data" capability to support high efficiency mobile office for >200k employees 2019 Annual Results | 20#21Smart Ecosystems Mutually Integrate to Promote Scale Development of Enterprise Business • • • • • ④ 中国电信 2020 target: DICT revenue to deliver DOUBLE-DIGIT GROWTH and remain a growth engine Cloud revenue to maintain rapid growth IDC to maintain fast growth loT growth to accelerate 5G+ cloud+DICT showcase projects to speed up commercialization (e.g. smart cities, digital government, industrial Internet, smart healthcare, smart campus, etc.) Deepen reform and expedite marketization of key areas Cloud Company to fully marketize: Service fee settlement by market practices internally while benchmarking leading companies externally; strengthen cloud resource operation capability and comprehensively enhance ecosystem aggregation capability Key areas to accelerate marketization transformation: Establish professional companies for healthcare, education, smart cities and other areas with marketized operation CHINA TELECOM Cojoin Smart Family, smart communities and smart cities leveraging cloud-network integration and Al empowerment; strengthen co-development of smart cities and digital government Smart Family Smart communities Promote aggregation and sharing of information and data Smart cities Scale promotion of integrated informatization applications capitalizing Operation Warm Spring Operation Warm Spring Launched nine informatization application products on focused areas, and achieved compelling results within a month 安全云网 暖春行动 服务疫情防控 助力复工复产 云网融合|安全可靠,值得信赖 天翼云会议 中小企业上云 教育上云(校园) Online education Remote office Telemedicine 天翼智慧社区 אן SME informatization Smart communities/ towns & villages 天翼大喇叭 天翼看家 天翼来电名片 天翼高清云课堂 医院上云 现在办理 2019 Annual Results | 21#22Increasing Resource Utilization ④ 中国电信 CHINA TELECOM RMB Mil 2019 Change Change as a % of Service Revenue Decreased 0.5% Operating Expenses 346,664 yoy 88,145 16.8% 43.1p.p. Incl.: Depreciation & Amortization 76,534 1.4% 0.1p.p. Growth rate less than service revenue due to enhanced precision investment while maintaining network edge 109,799 5.4% 2.4p.p. Network Operations & Support 122,103 5.2% +1.0p.p. Personnel 63,567 6.4% +0.8p.p. SG&A 57,361 3.5% 1.0p.p. Incl.: R&D Expense 2,105 457.0% 40.2p.p. Growth rate decreased remarkably due to strengthened cost control while continuing to enhance network capability and quality Increased incentives for high-tech talents and frontline employees Continued optimization of sales and marketing management to increase return on resources Expanded R&D input to step up core capability formation Interconnection 12,683 1.5% +0.2p.p. ☐ Pro forma figures excluding the impact resulting from the application of IFRS 16 The R&D expense in the table above excluded technology staff personnel expenses and depreciation & amortization of R&D-related assets; aggregate input related to R&D activities including expenses and capitalized expenditures was RMB11,147 Mil Note: 1. 2. Pro forma figures in this presentation are for illustration purpose only and investors should be cautious and not rely on these data 2019 Annual Results | 22#23Enhancing Financial Management Efficiency ④ 中国电信 CHINA TELECOM Total Debt RMB Mil 95,744 79,022 17.5% Total Debt/ Total Capitalization Finance Expenses RMB Mil 21.8% 3.5p.p. 18.3% 2,708 25.0% 2,032 2018.12 2019.12 2018.12 2019.12 2018 2019 Note: 1. 2. Debt in the charts above represents interest-bearing debts excluding lease liabilities Finance Expenses = Net Finance Costs - Interest Expense on Lease Liabilities 2019 Annual Results | 23#24FinanceAsia ASIA'S BEST COMPANIES 2019 Most Honored Company (2009-2019) 15TH ASIANESGAWARD THEBES OF ASA * * 2019 Asia's Icon Corporate Governance Asia's Icon on Corporate Governance Institutional Investor 2019 ALL-ASIA EXECUTIVE TEAM ASSET CORPORATE * THE EAWARDS 2019 ESG Asset Thank You! ④ 中国电信 CHINA TELECOM Asia's Most Honored Company Platinum Award- Excellence in Environmental, Social and Governance For further information & enquiries, please contact our Investor Relations Department at [email protected] or visit www.chinatelecom-h.com#25Appendix 1: Revenue Breakdown RMB Mil ④ 中国电信 CHINA TELECOM 2018 2019 Change Service Revenue 350,434 357,610 2.0% Mobile Service Revenue 167,705 175,546 4.7% Incl.: Voice 31,088 26,721 -14.0% Data 136,519 148,447 8.7% Incl.: Handset Internet Access 111,218 123,203 10.8% RMB Mil 2018 2019 Change Others 98 378 285.7% Intelligent Connections 291,114 292,684 0.5% Wireline Service Revenue 182,729 182,064 -0.4% Intelligent Applications 59,320 64,926 9.5% Incl.: Voice 19,723 18,425 -6.6% Incl.: Smart Family 7,831 8,077 3.1% Data 158,041 158,398 0.2% Incl.: Broadband Access 74,262 68,413 -7.9% DICT IoT 49,175 53,642 9.1% 1,535 1,868 21.7% Information & Application Services 60,849 65,245 7.2% Internet Finance 779 1,339 71.9% Others 4,965 5,241 5.6% Service Revenue 350,434 357,610 2.0% Sales of Terminals & Equipment and Others 26,690 18,124 -32.1% Sales of Mobile Terminals & Equipment 18,836 9,364 -50.3% Sales of Wireline Equipment & Other Non-service Revenue 7,854 8,760 11.5% Total 377,124 375,734 -0.4% Mobile Service Revenue 1 Voice 2.1 Handset Internet Access and Other Data 2.2 loT Data & Application Intelligent Connections = 1 + 2.1 +2.5+ 3+ 4+ 5.1 + 5.4 +6 2 Data 3 Others Sales of Mobile Terminals & Equipment Wireline Service Revenue 4 Voice 5 Data 6 Others Sales of Wireline Equipment & Other Non-service Revenue 2.3 Mobile DICT 2.4 BestPay and Other Internet Finance 2.5 Other Mobile Data 5.1 Broadband Access 5.2 e-Surfing HD and Other Smart Family 5.3 Wireline DICT 5.4 Other Wireline Data Smart Family = 5.2 DICT 2.3+ 5.3 IoT = 2.2 Internet Finance = 2.4 2019 Annual Results | 25#26Appendix 2: Key Financial Information ④ 中国电信 CHINA TELECOM RMB Mil 2018 2019 Change Operating Revenue 377,124 375,734 -0.4% Service Revenue 350,434 357,610 2.0% Sales of Terminals & Equipment and Others 26,690 18,124 -32.1% Operating Expenses 348,410 346,664 -0.5% Depreciation & Amortization 75,493 88,145 16.8% Network Operations & Support 116,062 109,799 -5.4% Incl.: Tower Usage Fee 16,063 9,652 -39.9% Personnel SG&A Incl.: Selling Expense R&D Expense Interconnection & Others Incl.: Interconnection 59,736 63,567 6.4% 59,422 57,361 -3.5% 50,794 48,472 -4.6% 1,341 2,105 57.0% 37,697 27,792 -26.3% 12,878 12,683 -1.5% Cost of Terminals & Equipment Sold 23,185 13,413 -42.1% Operating Profit 28,714 29,070 1.2% Net Profit 21,210 20,517 -3.3% Note: Excluding the impact resulting from the application of IFRS 16, the tower usage fee in 2019 was RMB17,250 Mil 2019 Annual Results | 26#27Appendix 3 Extracted from Audited Consolidated Statement of Comprehensive Income for the Year Ended 31 Dec 2019 RMB Mil 2018 ④ 中国电信 CHINA TELECOM Extracted from Audited Consolidated Statement of Financial Position as at 31 Dec 2019 2019 RMB Mil 2018.12 2019.12 Operating Revenue 377,124 375,734 Current Assets 73,005 73,182 Operating Expenses (348,410) (346,664) Non-current Assets 590,377 629,949 Net Finance Costs (2,708) (3,639) Total Assets 663,382 703,131 Investment Income, 2,142 1,603 Current Liabilities 258,920 264,661 Income from Investments in Associates Profit Before Taxation 28,148 27,034 Non-current Liabilities 60,363 83,430 Income Tax (6,810) (6,322) Total Liabilities 319,283 348,091 Profit for the Year 21,338 20,712 Total Equity 344,099 355,040 Equity Holders of the Company 21,210 20,517 Equity Attributable to Equity Holders of the Company 343,069 352,510 Non-controlling Interests 128 195 Non-controlling Interests 1,030 2,530 2019 Annual Results | 27#28Appendix 4 Selected Operating Metrics for the Year Ended 31 Dec 2019 ④ 中国电信 CHINA TELECOM Subscriber (Mil) Mobile Incl.: 4G 2018.12 2019.12 Change 303.00 335.57 32.57 242.43 281.24 38.81 5G package 4.61 4.61 Wireline Broadband 145.79 153.13 7.34 Access Lines in Service 116.48 110.85 -5.63 e-Surfing HD 105.35 112.62 7.27 BestPay Monthly Active Users 43.41 56.31 12.90 loT Connected Devices 106.93 157.41 50.48 2018 2019 Change Mobile ARPU (RMB) 50.5 45.8 -9.3% 4G ARPU (RMB) 55.8 49.5 -11.3% 4G DOU (GB/Sub/Month) 5.5 7.9 43.6% Handset Data Traffic (KTB) 14,073 24,370 73.2% Wireline Broadband ARPU (RMB) 44.3 38.1 -14.0% 2019 Annual Results | 28