#1Financial Results For the full year ended 31 March 2023 Yuen Kuan Moon, Group CEO 25 May 2023 Singtel#2Key highlights 11 pazz 价 Robust core performance Core business¹ grew S$168M or 15%² Optus EBIT doubled³ on mobile growth SG Consumer up 18%² boosted by roaming rebound & 5G take-up Group Enterprise resilient with robust ICT demand Regional Associates' repositioned for growth Regional Associates' PBT up 15%4 More rational mobile competition & post-COVID economic recovery Building fixed broadband capabilities Recycling assets to fund growth Sandy Growth engines executing to plan Scaling Regional Data Centre (RDC) pipeline NCS diversifying growth & improving margins GXS live in SG; launching in MY & ID ($ Strong cash generation supporting higher returns Record S$2.8B from capital recycling Financial flexibility with S$2.6B of free cash flow Solid balance sheet with S$3.2B of cash & low gearing Total dividend of 14.9cts, up 60% 1. Comprising Optus (excluding NBN migration revenue), Group Enterprise & Singapore Consumer businesses. 2. EBIT YOY. 3. In A$ & excluding NBN migration revenue. 4. On constant currency basis. 2 Singtel#3Operating revenue S$14.6B Key financials EBIT EBITDA (ex associates' contribution) S$3.7B S$1.1B ▼ 5% (▲ 5%1) ▼ 2% (▲ 3%¹) ▲ 6% (▲ 8%¹) Underlying net profit S$2.1B Net profit S$2.2B Return on equity 8.5% ▲ 7% (▲ 11%²) ▲ 14% (▲ 19%²) Mar 22: 7.3% 1. 2. On constant currency basis & excluding NBN migration revenue & Amobee in prior comparative period FY22. On constant currency basis. 3. Excluding Optus goodwill. With Optus goodwill, Group ROIC would be 5.4% & 5.9% in FY22 & FY23 respectively. 3 Regional associates' PBT S$2.3B ▲ 10% ( 15%²) Return on invested capital (ROIC)³ 8.3% Mar 22: 7.3%³ Singtel#4Dividend per share (S cents) 20 17.5 Total dividends of 14.9 cents Holistic approach to dividends Strategic reset 14.9 15 FY23 Total dividends 14.9 cents (▲ 60%) 12.3 10.7 5.01 Dividend yield 5.8%4 10 9.3 5.5 7.5 4.8 5.3 2.4 5 LO 6.8 6.8 5.1 4.5 4.6 0 FY19 FY20 FY21 FY22 FY23 Dividend payout 101% 81% 71% 80% 80%³ Additional payout² Final Interim Dividend policy 60% & 80% of underlying NPAT + Any excess proceeds from capital recycling after funding growth & repaying debt 1. Payable together with the ordinary dividends in December 2022 & August 2023, to shareholders on Singtel's register at each respective record date. Additional payout supported by excess proceeds from capital recycling after funding growth initiatives & repaying debt. 2. 3. Ordinary dividend as percentage of FY23 underlying NPAT. 4. Based on Singtel closing share price of S$2.56 on 24 May 2023. 4 Singtel#5OPTUS Optus Revenue Financial highlights Strong FY23 with continued growth in mobile services, driven by: O Solid net connections, 425k net adds for FY23 o Increasing ARPU: Postpaid ARPU +1.8% YoY (+4.0% HOH) O Growth in prepaid including strong contribution from amaysim Added A$143M² of EBIT growth to the Group through disciplined cost management & focus on profitability Operational highlights A$8,053M YoY ▲ 3% (ex NBN 4%) Bring your YOURITDA EBITDA A$2,088M YOY▲ 1% (ex NBN 4%) Phone 13 P ◉ Unique & innovative services delivered EBIT A$287M YoY ▲ 35%1 (ex NBN Monique go Cale OPTUS SubHub Connected to OM The Living Network a Add-o Advanced calling Connection control OPTUS prime brit BINGE Hayu QIYI Unifying One Optus - Enterprise & Consumer Ongoing investment in Australia's fastest 5G³ Australia's fastest 5G Fastest 5G mobile network for downloads, as awarded by Opensignal Optus Pulse SubHub Synergy & revenue upside Adjusting for the sale of Optus towers from April 2021, EBIT would have increased 15% or 59% (excluding NBN migration revenue). Excluding NBN migration revenue. 100%¹) 1. 2. 3. 5G download speeds by OpenSignal awarded Oct 22. 5 Singtel#61. Optus Enterprise & Business opex. Bringing together our B2B businesses in AU Business aligned to market segments Grow small business BO Focus on cost synergies & opex reduction¹ over next 2 years Integration of teams & centralisation of relevant functions ☐ Rationalise product offering ■ Investing in platforms 黒 Build mid-market foundation ◉ One Optus approach $ Drive enterprise profitability Expand wholesale & satellite <20% Real market share provides headroom for growth Under indexed versus consumer mobile share of ~30% Cross-sell across segments and scale in mid-market Singtel a#71. 2. Optus Cyberattack Update • In Sep 22, Optus was subject to a malicious cyberattack targeting certain customer data • • Optus' network, systems & services were not compromised & remained fully operational & available As previously indicated, the attack was undertaken by a motivated & determined criminal(s) who targeted Optus with techniques designed to evade detection & bypass security controls The attack was detected & shut down by Optus; it communicated swiftly and transparently; it notified relevant Government agencies & regulators; & worked closely with the police & other authorities to protect customers In its response, Optus' focus on protecting customers, accepting accountability & apologising, & committing to taking steps to do better were all important factors in rebuilding trust & returning to strong customer growth in the second half Putting customers first Committed to cyber excellence ■ ◉ Sustained positive net add momentum since Dec 22 Ongoing customer support, free credit & identity All customers communicated with bespoke messaging monitoring, & payment for document replacement costs² ◉ Continued investment in cyber capability; currently stopping over 100M cyberattacks per year Funding to advance cyber security innovation & digital skills Sharing learnings with the aim of improved national cyber defences The cyberattack is still subject to investigation by the Australian Federal Police who are working with the FBI. There is no indication as to whether this is an individual or group. As previously disclosed, a provision of A$140m was taken to cover these costs. Subsequently, a Class Action has been filed which will be vigorously defended. 7 Singtel#8Revenue S$1,814M Singapore Consumer Financial highlights YOY ▲ 3% ◉ Strong 11% growth in mobile service revenue 8 EBITDA S$655M YoY 13% EBIT S$331M YOY▲ 18% 1. 2. ☐ O Postpaid driven by travel recovery (roaming more than tripled YoY) & 5G take-up O Prepaid boosted by return in foreign workers & inbound tourists Home boosted by higher speed broadband plans & TV profitability with content savings Improved margins despite inflationary pressures, due to robust cost management Operational highlights Strengthened 5G leadership SPEEDTEST AWARDS FASTEST G 2022 3rd consecutive 5G speedtest win1 NETWORKS >760K 5G subs Best-in-class telco Improved roaming HARDWARE BEST TELCO ZONE HWM TECH AWARDS 2023 READERS' CHOICE WINNER SERVICE PROVIDER Singtel activations Pioneered one of paloalto® world's first 5G Security- as-a-Slice capability 14th consecutive Best Telco Service Provider in SG win² Fastest 5G network at Ookla's Speedtest Awards for Singapore's Fastest 5G Mobile Network 2022. HardwareZone's annual Tech Awards 2023 Readers' Choice. Enhanced ReadyRoam offering Singtel#9Revenue Group Enterprise S$2,556M Financial highlights Solid & broad-based ICT growth in data centres, 5G services & cybersecurity YOY 1% (ICT 15%) ☐ Pressure on carriage mitigated by EBITDA S$1,095M YoY Stable O Roaming recovery (+60% YoY) with the pickup in business travel o Increasing demand for network connectivity services Operational highlights Commercialisation of 5G EBIT S$714M YoY 2% NUHS National University Health System Holomedicine¹ Smart retail showcase¹ Connected cars Infra enhancement DI } Start of new satellite programme 1. Leveraging Paragon - the industry's first all-in-one platform for 5G network, edge computing & services orchestration. Singtel#10Revenue S$2,728M NCS YoY 1 make aordinary ncs EBITDA happen S$254M YOY 16% EBIT S$139M YOY 35% 10 10 Financial highlights 16% revenue growth from expansion of enterprise business & new acquisitons¹ о Ex acquisitions, recorded organic growth of 5% against macro uncertainty EBIT declined on planned acquisitions & digital investments, as well as higher wage adjustments due to inflationary pressures Sequential quarterly EBIT improved due to proactive cost management & solid topline growth Robust bookings of S$3.2B setting strong foundation for FY24 Operational highlights Executing to 3-axis strategy 51% 33% 15% Consecutive EBIT improvement (S$M) 63 48 from Digital Business² from enterprise 2,3 from outside SG² 23 23 (FY22: 49%) (FY22: 26%) (FY22: 5%) 6 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Includes S$300M of contributions from new acquisitions. - 23 1. 2. Of revenue. 3. Includes enterprise & telco+ businesses. Singtel#11Financial highlights Regional associates' growth supported by Airtel, which recorded double-digit growth led by mobile ARPU increase & strong Homes adds ■ Telkomsel: strong data growth offset by decline in legacy services & tower leaseback charges AIS: intense mobile competition, which eased in H2FY23. Continued expansion of broadband & enterprise businesses Regional associates Pre-tax profit contribution (S$M) Telkomsel Intouch AIS Globe Airtel FY23 FY22 862 113 297 301 694 2,267 11 YoY -6% YoY cc -3% +27% +19% -6% Stable -3% +61% +5% +70% 10% +15% 915 95 314 311 432 2,067 Operational highlights 5G </> Improving pricing environment & post COVID recovery Driving 5G adoption Rolling out digital services ($) Unlocking value of assets Singtel#1212 Capturing the regional broadband opportunity Sizeable untapped opportunities in Regional Associates' (RAS) markets.. that RAs are well-positioned to capture Penetration 10% 17% 43% 34% 320 Addressable market1 ('M) 33 33 Industry Rev CAGR² 15% Industry FBB vs ~4x Mobile ARPU³ 12 69 Market subs Households 8% ~6x (Customer market share¹) Peers Peers Peers Peers 25% 82% 26 21 Telkomsel 21 10% 4% ~3x ~9x airtel 18% 56% 71% 75% (Post- IndiHome merger) AIS 44% (Post-3BB acquisition) 29% Globe India4 Indonesia Thailand Philippines 1. 2. World Broadband Information Series data dashboard, publicly available sources & Singtel's internal estimates as of Dec-22. CY basis for SEA and FY for India. Market position #2 #1 #1 #2 3. Based on Dec-22 quarter. 4. In Apr-23, Telkomsel signed a conditional spin-off agreement with its parent company Telkom to integrate IndiHome services. Singtel#13■ Highlights € Recycled ~S$6B cumulatively since FY21 S$0.5B3 of debt maturing in next 12 months with S$3.2B of cash4 ~90% of debt on fixed rates with average maturities of >5 years Banking exposure spread across multiple banks with strong credit ratings Optus FCF declined mainly due to higher 5G investment & handset receivables Assoc dividends declined due to higher special dividends from Telkomsel in FY22 Balance sheet well-positioned for growth Free cash flow¹ & capital recycled (S$M) 0 FY23 1,392 875 346 NBN FY22 1,456 690 70 865 Assoc div Optus FCF2 SG FCF Net debt S$8B ▼ S$2B Net debt to EBITDA & assoc PBT 1.4x (Mar 22: 1.7x) S$2.8B of capital recycled 5,413 5,199 4% Interest rate Fixed rate debt cover 16.8x ~90% (Mar 22: 14.8x) (Mar 22: 95%) 1. Cash flow from operating activities, including dividends from associates, less cash capital expenditure. 2. Free cash flow excluding NBN migration revenue. 3. 4. Excludes lease liabilities. Comprised cash and cash equivalents as well as investments in Singapore Treasury bills and fixed deposits with original maturity longer than three months. Singtel#14Executing to our strategic reset 14 Singtel#151. 2. Reinvigorate the core 15% EBIT growth from core1 Leveraged 5G leadership to commercialise services Consolidating consumer & enterprise businesses in SG & AU to drive scale & cost benefits 15% increase in regional associates' PBT2 on Airtel outperformance Executing to our strategic reset добаву Capitalise on growth trends RDC expanded into TH & ID; pipeline to more than double in 3 years Digital InfraCo: Being carved out to capture new growth NCS expanded beyond SG, accelerated enterprise & digital business GXS: Live in SG with loan & deposit products 榴 Reallocate capital, unlock value S$2.8B from asset recycling Illuminated value of assets; Airtel stake sale Completed strategic review & sale of Amobee Divested non-core assets like Thaicom & Optus Insurance Champion people & sustainability 11% reduction in Scope 1 & 2 absolute emissions S$32M community investment S$22M investment in staff training Comprising Optus (excluding NBN migration revenue), Group Enterprise & Singapore Consumer businesses. On constant currency basis. 15 Singtel#16Capitalise on growth trends Revenue S$273M1 Regional Data Centre (RDC) Gross capacity (MW) FY26 155 EBITDA S$172M¹ Asset yield² 14.5%1 145 Building & future expansion FY23 60 583 -T | 204 | 175 | | 546 209 Built Building Pipeline Key highlights Broke ground in TH & ID Scaling DC Tuas Exploring opportunities Telkom Indonesia AIS Gulf the world in your hand MEDCOENERGI Dec 22 Jan 23 Plans to recycle 5 old DCs into DC DC Tuas ~60MW & PUE <1.3 MY & VN Tuas 1. RDC set up in FY23 & has no YoY comparative. 2. For DC West & Kim Chuan 2. 3. DC Tuas. 4. Singtel holds 35% interest in Thailand DC with Gulf & AIS. 5. Singtel to hold 30% interest in Batam DC with PT Telkom & MedcoEnergi International. 6. Comprising 34MW in Batam DC & 20MW in Thailand DC. 16 Singtel#17Champion people & sustainability Setting the benchmark in sustainability Climate change & environment # CDP A- leadership score for 6th consecutive year Sustainable O value creation MSCI Rated "A" for MSCI ESG score Community impact S$32M Community investment in SG & AU People & future of work S$22M Training investment in SG & AU CLEAN200™ Top 100 in Corporate Knights Clean 200 Launched first tokenised sustainability-linked loan & bond in SG >840K Beneficiaries of digital enablement programmes since 2015 >3K employees reskilled to new roles 11% Reduction in Scope 1 & 2 absolute emissions 1st AU telco to sign A$1.4B sustainability-linked revolving credit facility World Benchmarking Alliance Top SEA company in the 2023 Digital Inclusion Benchmark Our key commitments Bloomberg Gender-Equality Index 2023 Bloomberg Gender-Equality Index for 5th consecutive year SCIENCE BASED TARGETS DRIVING AMBITIOUS CORPORATE CLIMATE ACTION TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES SINGAPORE SUSTAINABLE DEVELOPMENT GOALS COMPANY OF GOOD UN GLOBAL COMPACT 17 United Nations Global Compact GSMAT Singtel#18Capital management framework 2016 STATES E-PLURE UNU TED ST LIBERTY 2016 ONE 18 DIVIDENDS $ LIBER הצחנה. Singtel#19Capital management approach 8 Core operations Driving profits to support dividends Growth engines IRR-driven model for returns & capital partnerships for scalable growth Key metrics: Free cash flow generation. EBIT margin growth ROIC Key metrics: ■ Asset yields Ability to recycle ■ Efficient capital deployment 19 Singtel#20Delivering sustainable dividends & funding growth1 Pot 1: Operating cash underpins sustainable dividends Pot 2: Continued capital recycling to fund investments S$B S$B ~5.0 FY23 operating cash flow² Ordinary dividend ~ 1.6 80% of underlying profit Spectrum, lease & interest payments Maintenance capex Usage Cash holdings Includes dividends from associates. 1. Chart not drawn to scale. 2. 3. 4. 5. Payable FY25. Includes proceeds from divestment of Comcentre stake. Predominantly data centres. 20 20 ~6.0 Expected capital recycling in the mid-term³ Growth initiatives4 ~1-2 5G capex ~1-2 ~1 Fund future growth opportunities Pay down debt ☐ Return to shareholders Optus 900MHz spectrum 5 Capital allocation 557-21 ~ Excess cash Singtel#21S$B 2.3 0.2 Capex outlook for FY24 2.7 0.5 ☐ FY24 core capex stable ■ 5G investments in AU; SG completed Additional investments in cybersecurity, green & digital transformation initiatives 1.51 (AU) 1.41 (AU) 0.7 (ST2) FY23 21 27 0.7 (ST2) ■ FY24 new digital infrastructure capex funded by asset recycling Mainly for DC Tuas in SG Investments into new satellites in SG & AU, SG satellite will be fully funded by customers Core capex Equivalent to A$1.6B for both FY23 & FY24F. 1. 2. Rest of Singtel Group. FY24F Digital infra capex Singtel#22Low double digit¹ ROIC target in the mid-term FY23 EBIT (Chg) Regional Associates S$2,267M³ (▲ 15%4) Key drivers Capture fixed opportunity Focus on market repair & cost management Accelerate 5G monetisation 22 22 ROIC > WACC SG OpCo² S$1,044M (▲ 4%) ■ Tap into regional loT opportunity ☐ Cost optimisation & digital transformation NCS S$139M (35%) ◉ ROIC < WACC Optus A$287M (▲ 100%5) Negative ROIC Trustwave -S$133M (10%4) ■ Asset yield RDC S$172M6 ◉ Grow international & enterprise business Cost-to-serve optimisation Build on rational market competition & customer gains Win share in under indexed enterprise market Cost management & efficient network deployment Complete strategic review Continued focus on cost efficiencies Drive scalable growth & operating efficiencies Optimise customer mix Pursue capital partnerships FY23 ROIC of 8.3%1 (FY22: 7.3%¹) 1. Excluding Optus goodwill. 4. On constant currency basis. 2. 3. Includes Singapore Consumer & Group Enterprise. PBT. 5. Excluding NBN migration revenue. 6. EBITDA. NO YOY comparative as RDC set up in FY23. Singtel#23Singtel OPTUS Priorities for FY24 23 23 Integrate consumer & enterprise businesses to drive growth & synergies Advance Associates' fixed & enterprise strategies Continue to scale growth engines with capability & market expansion Drive profitability & identify monetisation opportunities to narrow HoldCo discount Singtel#24Appendix#25Jan 2021 NCS to operate as an autonomous business unit Restructure & reposition for growth Jul 2022 Formed regional data centre platform Sep 2022 Divestment of Amobee Jun 2023 Created SG OpCo¹ & Digital InfraCo টে (((Q))) A Nov 2021 Sale of 70% stake in ATN to Australian Super Optimise synergies & capabilities 1. Consolidated Singapore Consumer & Group Enterprise (ex RDC) businesses. Jul 2022 Combined consumer & enterprise businesses in AU Drive growth Unlock latent value $ Sep 2022 Divestment of partial stake in Bharti Airtel مسا Infol mm 25 Deliver better outcomes for customers Singtel#26S$B Core EBIT Quality earnings growth Regional associates' PBT Adjusted² underlying NPAT 1.1 0.1 15% 1.3 0.3 0.3 0.3 0.7 0.7 FY22 Optus¹ FY23 SG Con Group Enterprise S$B S$B 15% 2.4 0.1 2.1 1.9 17% 2.2 0.2 10% 2.3 7% 2.1 2.1 1.9 FY22 FY23 -0.05 FY22 FY23 Forex impact Regional associates PBT Adjustments² Underlying NPAT 1. Excluding NBN migration revenue. 2. Adjusted for forex movements, Amobee losses in FY22, NBN migration revenue & fair value gain/(loss). Singtel#27Singtel