Slide 1: 2025 Interim Results
2025 Interim Results For the six months ended 30 June 2025 1 August 2025 Hong Kong
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain “forward-looking statements” that are not historical in nature. These forward- looking statements, which include, without limitation, statements regarding PCCW's future results of operations, financial condition or business prospects, are base
Slide 3: Business Overview
Business Overview Susanna Hui Acting Group Managing Director & Group Chief Financial Officer 3
Slide 4: Leading Technology, Media, and Telecom Businesses
Leading Technology, Media, and Telecom Businesses OTT Business Free TV & Related Business HKT • Maintained market leadership as No. 1 • Digital membership grew more than 4% • Leveraging artificial intelligence (“AI”) to Asian OTT platform in GSEA with 13.8 to hit 3.3 million better serve customers m
Slide 5: 1H25 Financial Highlights
1H25 Financial Highlights 1H25 % change (US $ million) Consolidated Revenue 2,426 7% YoY Consolidated EBITDA 771 6% YoY By Segment Revenue (US $ million) 1H25 % change EBITDA (US $ million) 1H25 % change HKT 2,221 4% YoY HKT 818 3% YoY OTT 153 10% YoY OTT 44 51% YoY Free TV & Related 44 Free TV & Re
Slide 6: Pursuing a Prudent Dividend Policy
Pursuing a Prudent Dividend Policy (HK cents) 38.04 38.25 38.25 37.05 2025 Interim 31.24 32.18 32.18 Dividend per share: 28.33 29.75 25.00 9.77 HK cents 27.69 28.48 28.48 28.48 20.20 22.33 23.00 23.00 20.17 21.18 17.04 13.21 Final Dividend Per Share Interim Dividend Per Share 9.36 9.56 9.77 9.77 9.7
Slide 7: OTT Business
Cyvid OTT Business
Slide 8: Viu Continues to be a Leader Amongst Global Platforms
Viu Continues to be a Leader Amongst Global Platforms The No. 1 Asian OTT Platform In GSEA Monthly Active Users Streaming Minutes Paid Subscribers 1 Netflix 1 Netflix 1 Netflix 2 Viu 2 Viu 2 Viu 3 Vidio 3 Vidio 3 Disney+3 4 WeTV 4 WeTV 4 Vidio 5 iQIYI 5 iQIYI 5 iQIYI AMPD Online Video Consumer Insig
Slide 9: Strong Growth in Subscription and Advertising Revenues
Strong Growth in Subscription and Advertising Revenues 1H25 Paid Subscribers 1H25 SVOD & AVOD EBITDA Growth YoY1 Revenue Growth YoY Margin 8 p.p. 19% 27% 29% YoY Enhancing Expanding Expanding Monetisation Viewer Experience Partnership Ecosystem Opportunities for Advertising • Added nearly 150 new ti
Slide 10: Multi-pillar Content Strategy Drives Viewer Engagement
Multi-pillar Content Strategy Drives Viewer Engagement 1H25 Slated for Release in 2H25 Doubled the number of titles in response Build upon the momentum of Chinese Drama to increasing popularity top-performing Chinese content Selective investment in high-performing Return of highly successful flagshi
Slide 11: Free TV & Related Business
Free TV & Related Business
Slide 12: Captivating Content Strengthens Connection with Viewers
Captivating Content Strengthens Connection with Viewers 1H25 Highlights Signature Programs Scheduled for 2H25 1H25 ViuTV digital membership Drama Game Show Reality Show 3.3million 4.1% YoY 1 Audience viewing time for weekday prime time 60+min 4.4% YoY 2 Original content well received by audience and
Slide 13: Entertaining Audiences in Hong Kong and Beyond
Entertaining Audiences in Hong Kong and Beyond Talent Event Content Marf @ COLLAR // Coldplay’s “Music Of The ERROR What's Going Wrong 2025 Concert Where is My Fifteen Minutes Spheres World Tour” in Hong Kong • Collaborations with international artistes such as • 7 sold-out concert series, including
Slide 14: Financial Overview
Financial Overview Marco Wong Head of Investor Relations 14
Slide 15: Resilient Performance with Growth in Mobile and TSS
Resilient Performance with Growth in Mobile and TSS Adjusted Funds Flow grew to US$328 million. Interim Distribution of 33.80 HK cents per SSU HKT Revenue HKT EBITDA 2,221 4% YoY US $ Million 818 US $ Million 2,137 791 3% YoY 126 130 512 537 Mobile Services 309 Mobile 295 + 5% YoY + 5% YoY Eliminati
Slide 16: Growing Scale and Profitability Propelling Viu Towards Positive Cashflow
Growing Scale and Profitability Propelling Viu Towards Positive Cashflow OTT Business Revenue OTT Business EBITDA US $ Million 10% YoY US $ Million 51% YoY 153 140 21 18 Others 44 Viu 122 132 29 1H24 1H25 1H24 1H25 EBITDA 21% 29% Margin • Significant revenue growth of 27% in Viu’s subscription and a
Slide 17: Geared for Rebound with Strong Content and Events Lined Up in 2H
Geared for Rebound with Strong Content and Events Lined Up in 2H Free TV & Related Business Revenue Free TV & Related Business EBITDA US $ Million US $ Million 62 12 44 6 1H24 1H25 1H24 1H25 • Lower revenue largely due to timing of the concert and event • EBITDA and margin decreased as a result of t
Slide 18: Measurable Success in Efficiency Enhancement and Cost Optimisation
Measurable Success in Efficiency Enhancement and Cost Optimisation Operating Expenses US $ Million 5% YoY 396 376 139 130 Opex decreased by 5% driven by cost optimisation across the Group PCCW Leveraging its rising brand recognition, the OTT Business enhanced HKT 257 246 efficiency in its publicity
Slide 19: Shrewd Capex Investments
Shrewd Capex Investments Capex US $ Million 146 142 8 9 5 3 Mobile capex declined by 4% reflecting the efficiency gains from capacity upgrades and network maintenance following the 48 46 completion of its territory-wide 5G coverage Others Media TSS capex declined by 2% with investments largely to su
Slide 20: Debt Maturity Profile
Debt Maturity Profile HKT (US $ million) HKT Bank Loans HKT Bonds As of 30 June 2025 (US$ million) As of Jun 2024 As of Jun 2025 213 Cash Balance 214 249 Undrawn Facilities 1,537 2,048 Total 1,751 2,297 1,517 1,116 500 750 300 650 321 192 2025 2026 2027 2028 2029 2030 2031 2032 PCCW (US $ million) P
Slide 21: Healthy Liquidity
Healthy Liquidity As of Jun 2024 As of Jun 2025(5) Undrawn Undrawn US $ million Gross Debt(1) Cash Balance(4) Gross Debt(1) Cash Balance(4) Facilities Facilities HKT 5,942 214 1,537 5,568 249 2,048 PCCW 1,287 61 775 1,775 50 784 Total 7,229 275 2,312 7,343 299 2,832 Net Debt(2) / 4.21x 4.17x EBITDA(