Singtel OPTUS Priorities for FY24

■ 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

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