Singapore Telecommunications Limited · SGX:Z74
Singapore Telecommunications — FY2026 Earnings Presentation
28 slides from Singapore Telecommunications's earnings presentation, May 21, 2026
Slide 1: Financial Results
Financial Results For the full year ended 31 March 2026 Yuen Kuan Moon, Group CEO 21 May 2026 1
Slide 2: Forward looking statement – Important note
Forward looking statement – Important note The following presentation contains forward-looking statements by the management of Singapore Telecommunications Limited ("Singtel"), that may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “depend
Slide 3: FY26 results – on track with Singtel28
FY26 results – on track with Singtel28 Sustained value Lift business performance realisation Strong EBIT growth Strong take-up of Underlying NPAT4 Digital InfraCo new capacity +21%1 +23%1 +34% +24% OpCo EBIT Active capital management +10%1 Asset recycling Record FY Shares Regional Assoc PAT4 proceed
Slide 4: FY26 financial highlights
FY26 financial highlights Operating revenue EBITDA OpCo EBIT S$14.3B S$3.8B S$1.5B Stable (▲ 2%1) ▲ 2% (▲ 3%1) ▲ 9% (▲ 10%1) Regional associates’ PAT Underlying net profit Net profit (basis for core dividend payout) S$2.0B S$2.8B S$5.6B ▲ 11% (▲ 25%1,2) ▲ 12% (▲ 21%1,2) ▲ 40% (▲ 27%1,2) Final divide
Slide 5: FY26 business highlights
FY26 business highlights SG Leading the Strengthening our Accelerating Regional market foundations AI-led future expansion +37% ~4% S$3.8B 100% Customers on higher value Contracted capacity Growth in mobile Record bookings 5G+ plans for 26MW 1st Thai DC service revenue 66% Contracted capacity 5-year
Slide 6: Core telco business
Core telco business SG Revenue EBIT Revenue EBIT A$8,345M A$550M S$3,691M S$795M YoY ▲ 2% YoY ▲ 23% YoY ▼ 3% YoY ▼ 5% ▪ Revenue increased 2% led by postpaid price rises ▪ Structural price competition in Consumer and customer growth in amaysim partially offset by resilient Enterprise growth ▪ EBITDA
Slide 7: Growth engines
Growth engines Digital InfraCo Revenue EBIT Revenue EBIT S$3,198M S$340M S$486M S$81M YoY ▲ 7% YoY ▲ 34%1 YoY ▲ 12% YoY ▲ 24% ▪ Sustained revenue momentum across all business ▪ Revenue up 12% segments o Nxera grew 16% (up 36% in 2H) on improved ▪ EBITDA margins +1.7ppts to 12.8%, led by delivery uti
Slide 8: Regional associates' higher PAT driven by Airtel & AIS
Regional associates’ higher PAT driven by Airtel & AIS S$96M adverse S$M impact from stronger SGD Regional associates’ PAT ▲ 11% (▲ 17%1) 1,955 S$2.0B 1,756 ▲ 20% ▲ 42% (▲ 37%1) (▲ 25%1) 474 Intouch2 121 ▲ 11% (▲ 17%1) Ex Intouch ▲ 20% (▲ 25%1) AIS 334 227 ▲ 3% (▲ 7%1) • Strong India growth from cus
Slide 9: Solid financial position
Solid financial position Net debt to EBITDA Net debt Interest cover Fixed rate debt & assoc PBT ▪ Solid financial position S$8.7B 1.3x 19.0x 87% o Cash balance of S$3.7B2 o Debt is largely hedged into (Mar 25: S$9.4B) (Mar 25: 1.5x) (Mar 25: 18.1x) (Mar 25: 88%) fixed rates; average cost of debt: ~3
Slide 10: Track record of progressive dividend growth
Track record of progressive dividend growth Ordinary Dividends declared (Scts) Strategic reset Singtel28 (▲9%) 18.5 17.0 3.3 15.0 3.3 Final 3.8 Core dividend Core 7.0 10.3cts 9.9 FY26 dividend: 18.5cts 9.3 6.7 (13.4cts core & 5.1cts VRD) 7.5 6.0 4.8 5.3 1.8 2.4 1.4 Interim Core payout ratio at 80% C
Slide 11: Successfully delivered FY26 guidance
Successfully delivered FY26 guidance FY26 outlook FY26 Between high single digits and ▲ 10%1 OpCo EBIT growth rate low double digits1 Annual cost savings2 S$0.2B Delivered (FY24-26 for Singtel SG & Optus) Regional associates’ S$1.1B S$1.1B dividend Capex S$2.5B S$2.5B ROIC3 target met 6.8% (FY22) 9.
Slide 12: Focus for FY27
Focus for FY27 OpCos Key associates SG ▪ Drive quality Enterprise growth ▪ Improve customer experience locally & abroad ▪ Enhance security & performance ▪ Consumer business: Improve of network churn & execute tri-brand play ▪ Simplify and modernise core IT ▪ Continue scaling (Singtel, GOMO & hi!) pl
Slide 13: Singtel SDS transfer: Overview & implications
Singtel SDS transfer: Overview & implications • Singtel initiated an exercise to transfer Singtel Special Discounted Shares (SDS) under the SDS What is scheme, from the CPF Board to the CDP accounts of SDS holders happening? • Parliament has passed the Central Provident Fund (Amendment) Bill to enab
Slide 14: Advancing our purpose-driven sustainability agenda
Advancing our purpose-driven sustainability agenda Environment Social impact Governance ▪ Climate Transition Plan ▪ Expand Singtel Touching ▪ Strengthen Opco ESG aligned with our 4D1 Lives Fund’s support to all accountability & Environmental Sustainability 25 special education governance Strategy sc
Slide 15: Second-order impact: Downside scenarios of Middle East conflict
Downside scenarios of Middle East conflict OpCos Regional associates Cost pressure contained Varying degrees of impact Energy costs ▪ Energy cost <5% of Group opex ▪ Energy costs in the low teens as % of total opex ▪ Singtel SG & Optus electricity contracts ▪ PH & TH more reliant on energy imports;
Slide 16: FY27 outlook
FY27 outlook OpCo EBIT Between low and growth rate mid-single digits1 S$1.1B Regional associates’ (another S$0.7B in special dividend dividends received from AIS & Gulf2) S$3.0B Capex (Core: S$1.8B | Growth: S$1.2B3) 1. Comprises OpCo EBIT and Group’s corporate costs. Based on average exchange rate
Slide 17: Funding future growth with active capital management
Funding future growth with active capital management Arthur Lang, Group CFO 21 May 2026 17
Slide 18: Laying foundation for growth
Laying foundation for growth 1 Singtel SG Enterprise 2 RE:AI Sustain growth Scaling up momentum 3 STT GDC 4 Digital infrastructure Enhanced scale & Powering the full strategic optionality enterprise AI stack 18
Slide 19: 4 strategic pillars driving Singtel Singapore Enterprise growth
1 4 strategic pillars driving Singtel Singapore Enterprise growth International Beneficiary of Monetising network Differentiated connectivity growth SG Smart Nation investments East-West positioning 700MHz Ongoing trials for Nationwide 5G SA Connectivity play for autonomous vehicles coverage with sl
Slide 20: Strong growth runway ahead
2 Strong growth runway ahead Successful pilot Setting up largest GPU cluster in SG Next stage Standalone business separate from Nxera Scaling AI Building to Strong returns compute demand profile ~S$60M infrastructure Active sourcing of new capacity capex in FY25-26 to meet robust Up to ~S$600M Compa
Slide 21: Uniquely positioned to drive scalable AI & returns
2 uniquely positioned to drive scalable AI & returns Unique value proposition State-of-the-art Trusted local Extensive support facilities champion infrastructure 1st to deploy direct-to- Tech partnerships Fixed mobile convergence chip liquid cooling in SG Centre of Excellence for Applied AI Autonomo
Slide 22: DC growth engine – the next stage as a global infrastructure play
3 DC growth engine – the next stage as a global infrastructure play Transaction expected to close by early 2H 20261, with both platforms operated independently Global scale Acquisition of STT GDC creates immediate global scale, geographic reach in 12 markets across & reach SG, Asia & Europe & a comb
Slide 23: One-stop ecosystem where connectivity, cloud & AI converge
4 One-stop ecosystem where connectivity, cloud & AI converge Singtel’s end-to-end digital infrastructure ecosystem Orchestration across Next-Gen AI models ▪ Patented orchestration software platform ▪ AI-model & product agnostic GPUaaS & AIaaS provider ▪ End-to-end Next-Gen AI platform ▪ Cloud-based
Slide 24: Investing for growth
Investing for growth S$B 3.0 2.5 2.5 1.24 FY27 core capex 0.7 S$0.7B 0.8 fully funded3 ▪ Optus: Stable capex, with continued focus on network & IT resilience ▪ Singtel SG: Lower capex 1.11 (AU) 1.31 1.3 (AU) 1 (AU) (AU) (AU) FY27 growth capex4 0.6 0.5 0.5 (ST (ST2)) 2 (ST ▪ RE:AI scaling for new con
Slide 25: Capital management approach: Multiple funding sources
Capital management approach: Multiple funding sources to drive growth & value creation TO COME Improving OpCo Balance sheet Permanent Asset recycling Capital partners & RA operations strength capital pools ▪ Driving FCF & ▪ Ample debt ▪ ~S$5.8B recycled ▪ Successful JVs & ▪ Unlock value dividend gro
Slide 26: Ample headroom to fund returns & growth
Ample headroom to fund returns & growth Remaining headroom ~S$9B Utilised STT GDC investment Up to S$1.8B over next 2 years Up to S$3.3B 3-6cts per year Up to S$1B to be Ability to pay executed in FY27 next 4 years ~$5.8B realised FY26 final VRD since Apr-24 VRD VRSB Growth initiatives Mid-term asse
Slide 27: Continued execution of Singtel28
Continued execution of Singtel28 FY25 FY26 FY27 Lift business Active capital Sustained value performance management realisation Robust OpCo EBIT momentum Mid-term recycling target Strong underlying NPAT growth S$B 9.8% 10.5 S$B 2.8 8.2% S$9B 2.5 2.3 1.4 1.5 1.2 +11% +16% +20% +10% ▪ S$5.8B recycled
Slide 28: app, linkedin, logo, media, popular, social A black and white logo Description automatically generated
app, linkedin, logo, media, popular, social A black and white logo Description automatically generated
Singapore Telecommunications — FY2026 Earnings Presentation on 6ix