Slide 1: 2025 Interim Results
2025 Interim Results For the six months ended 30 June 2025 31 July 2025 Hong Kong
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation may contain “forward-looking statements” that are not historical in nature. These forward-looking statements, which include, without limitation, statements regarding HKT’s future results of operations, financial condition or business prospects, are based o
Slide 3: Business Overview
Business Overview Susanna Hui Group Managing Director
Slide 4: Business Resilience Anchored in Stability Amidst Market Uncertainty
Business Resilience Anchored in Stability Amidst Market Uncertainty Total Revenue Total EBITDA Adjusted Funds Flow (US$ million) (US$ million) (US$ million) 2,221 4% YoY 818 328 Excluding Mobile Product Sales 2,091 4% YoY 3% YoY 3% YoY Enterprise Broadband Mobile Services Interim Distribution Revenu
Slide 5: Driving Business Growth through AI Innovation
Driving Business Growth through AI Innovation AI Adoption to Serve Customers Reshaping Workflows with AI with Greater Agility and Intelligence Number of customers subscribing to 3 or AI-led initiatives led to material improvements in more services increasing significantly productivity and overall co
Slide 6: Future-Proof Fibre Network to Support the Applications of Tomorrow
Future-Proof Fibre Network to Support the Applications of Tomorrow Addressing Demand for High Bandwidth and Ultra-Low Latency 800G / 400G * AI, AI Computational Power 100G / 400G / 800G AI Superhighway Supercomputing, Fibre Services to address Cloud Aggregation/Extension the growing demand for Metro
Slide 7: Unique 800G AI Superhighway Service for AI and Supercomputing Era
Unique 800G AI Superhighway Service for AI and Supercomputing Era Offering 800G Layer-2 Connectivity Service for On-Demand Remote Access to AI Supercomputing Resources AI Supercomputing Centres 800G AI Superhighway enables emerging AI service models like Dynamic AI Computing Resource Brokers and Age
Slide 8: Continually Enhancing Wireless Network Coverage and Performance
Continually Enhancing Wireless Network Coverage and Performance Further Mobile Network Expansion to Meet Growing Demands Enhanced Indoor & Outdoor Coverage ▪ Added almost 40 new sites for indoor and outdoor coverage enhancements Hopewell Hotel & Hong Kong Hopewell Mall HACTL Velodrome Kai Tak Marina
Slide 9: Further Expansion of High Value, Loyal Mobile Customer Base
Further Expansion of High Value, Loyal Mobile Customer Base Growth in Post-paid Robust Increase in Post-paid Exit ARPU Improvement Customer Base 1O1O and csl. Customer Base From Roaming and 5G Despite Intense Competition 4% YoY 3,433 3,478 192 193 1% H1'24 H1'25 YoY 1% YoY Low Churn Rate for ('000)
Slide 10: Roaming Revenue Fully Recovered with Steady Growth
Roaming Revenue Fully Recovered with Steady Growth Sustained Growth in Roaming Revenue Deepening Roamer Penetration 104% of Pre-pandemic levels 7% Inbound Revenue 61% of Pre-pandemic levels Outbound Revenue Consumer Roamer Penetration in June 2025 69% 113% of Pre-pandemic levels (+6 p.p. YoY) YoY Co
Slide 11: Continued 5G Adoption and Value Uplift
Continued 5G Adoption and Value Uplift 5G customers reached 1.894 million 51% 54% Number of 5G customers increased by 21% 46% 1,894 YoY 41% 1,747 32% 1,571 5G Penetration to 54% of total post-paid Total Post-paid 1,399 21% Base 1,061 customer base have upgraded to 5G 8% 680 >60% Data usage of AI-act
Slide 12: Robust Demand for Home Broadband Services
Robust Demand for Home Broadband Services Stimulated by Our Market Leading Offerings Continued Upgrades to FTTH Further Consumer Broadband Net Adds With 2.5G Service Notching the Fastest Growth 1,472 1,482 1,028 1,055 ('000) 10k YoY 3% H1'24 H1'25 YoY ('000) Accelerating Uptake of 2.5G Service H1'24
Slide 13: Now TV as the Ultimate Aggregator of World Class Sports, Entertainment and OTT Streaming
Now TV as the Ultimate Aggregator of World Class Sports, Entertainment and OTT Streaming < < Football Snooker Racing Badminton Table Tennis Basketball Tennis HOME OF SPORTS Horse Racing Fight Sports Rugby Cricket Fencing Golf 13
Slide 14: Now Video Streaming Service Gaining Momentum
Now Video Streaming Service Gaining Momentum Growing OTT Customer Base Delivering Distinctive, Customised Premium Sports and Entertainment Packages to Cater to the Evolving Preferences of OTT Audiences ▪ Total customer base expanded to 1.448 million, ▪ Targeted Content Packages for Sports Fans under
Slide 15: Enterprise Business Demonstrated Resilience Despite Ongoing Market Headwinds
Enterprise Business Demonstrated Resilience Despite Ongoing Market Headwinds New Project Wins Total Contract Value of New Project Wins in H1’25 Market Headwinds Over HK$2.2 billion Uncertain outlook in face of external Capturing the Business Opportunities by economic environment Offering Industry Sp
Slide 16: Driving Smart Healthcare into the Future
Driving Smart Healthcare into the Future From Robust Infrastructure to Intelligent Applications Integrated Telecommunications Infrastructure for Secure Email and SMS System AI-Powered Automation Solutions a Chinese Medicine Hospital for a Chinese Medicine Hospital for a Public Hospital Full Mobile 5
Slide 17: Deploying 5G Technologies across Industries
Deploying 5G Technologies across Industries 5G Private Network for Cargo Management 5G Infrastructure for Commercial and Hotel Complex Private 5G Infrastructure System to Transform Cargo Management 5G Infrastructure & ICT Systems for Iconic Complex in CBD into Smart Ecosystem ▪ 5G infrastructure for
Slide 18: Empowering Digital Transformation with AI and Technology Resilience
Empowering Digital Transformation with AI and Technology Resilience Supply Chain and Technology Resilience AI-powered Operations Flagship Innovation Hub Transportation Infrastructure Transforming Hong Kong into a beacon of innovation by AI Integrated Observability Platform to enhance engineering a c
Slide 19: Enabling China's Enterprises to Establish Overseas Foothold
Enabling China’s Enterprises to Establish Overseas Foothold HKT Driving Global Expansion of 60 Mainland and Hong Kong Enterprises to 200 ASEAN Touchpoints Following Mainland Chinese Customers Powered by HKT’s Secure, Scalable and Agile SD-Wan Services in their Expansion Plan New Energy Vanguard Opti
Slide 20: International Business – Powered by a Global, Hyperscale Network
International Business – Powered by a Global, Hyperscale Network Uniquely Combining Software Fabric & Global Network Infrastructure to Deliver World-Class Services A Fully Vertically Integrated Automated On-Demand Platform to Meet Evolving Demands APIs: Automated On-Demand Platform APIs 1,000+ ~200
Slide 21: The Club Digital Ecosystem Connecting Consumers and Merchants
The Club Digital Ecosystem Connecting Consumers and Merchants GenAI and Data Analytics Empowering Personalised Service Offerings in Key Adjacencies Enhancing the Benefits of The Club to Match Members’ Interests Expanded selection of merchandise, unique lifestyle experience vouchers, including dining
Slide 22: Transforming Healthcare across Asia including GBA
Transforming Healthcare across Asia including GBA Go Beyond Hong Kong DrGo Telemedicine services now extend beyond Hong Kong to the GBA and selected countries* in Asia, enabling broader access and delivering value-added healthcare services to HKT roaming and travelling customers Wellness Solution De
Slide 23: Contributing to a Sustainable Future
Contributing to a Sustainable Future Engaging the Community Combatting Climate Change ▪ Volunteer hours increased by nearly 80% YoY, driven by 20%+ YoY ▪ Secured over US$4 billion in sustainability-linked loan facilities growth of staff volunteers since 2020 ▪ Promoted animal conservation to 2,300 s
Slide 24: H1'25 Highlights
H1’25 Highlights 1) Fortifying Financial Strength 4) Tailored Technology Solutions Recent balance sheet deleveraging and full for Enterprise Customers impact of declines in local interest rates will yield financial benefits to HKT Uniquely positioned to support Hong Kong’s efforts to be a leading te
Slide 25: Financial Review
Financial Review Patrick Poon Chief Financial Officer
Slide 26: Solid Financial Performance
Solid Financial Performance (US$ million) H1'24 H1'25 % Change Adjusted Funds Flow 320 328 + 3% Revenue 2,137 2,221 + 4% Revenue (excluding Mobile Product Sales) 2,011 2,091 + 4% EBITDA 791 818 + 3% EBITDA Margin (excluding Mobile Product Sales) 39% 39% Overall EBITDA Margin 37% 37% Profit Attributa
Slide 27: TSS Continued to Demonstrate Business Strength and Resilience
TSS Continued to Demonstrate Business Strength and Resilience TSS Business Local TSS Revenue 1,547 1,606 Total Revenue 1,117 Local TSS 5% 4% 1,063 Revenue YoY YoY ▄ Local TSS ▄ Local Data Revenue 1,063 1,117 ▄ Broadband 11% YoY ▄ ITS Revenue Total EBITDA ▄ Total EBITDA 551 567 ▄ Other Local TSS 3% Y
Slide 28: Mobile Benefitting from Roaming and Continued 5G Adoption
Mobile Benefitting from Roaming and Continued 5G Adoption Mobile Business Mobile Services Revenue 638 667 Total Revenue 512 537 5% 489 YoY ▄ Revenue ▄ Local Core 5% ▄ EBITDA 295 309 Total EBITDA ▄ Roaming & IDD YoY 5% 5% (US$ million) (US$ million) YoY YoY H1'24 H1'25 H1'23 H1'24 H1'25 EBITDA Mobile
Slide 29: Continued Focus on Driving Operating Efficiencies
Continued Focus on Driving Operating Efficiencies Operating Expenses 257 246 ▄ TSS ▄ Mobile ▄ Others 141 4% 135 ▪ Opex savings of 4% in H1’25, with opex to revenue ratio further (US$ million) YoY improving to 11.1% ▪ Reshaping workflows through AI deployment yielded notable improvements in productiv
Slide 30: Disciplined Capital Investments Supporting Business Growth
Disciplined Capital Investments Supporting Business Growth Capital Expenditure 141 138 ▄ TSS ▄ Mobile ▄ Others 85 ▪ Disciplined capital investments with capex to revenue ratio 84 3% improving to 6.2%, well within stated guidance (US$ million) YoY ▪ Lower Mobile capex reflecting the efficiency gains
Slide 31: Adjusted Funds Flow
Adjusted Funds Flow YoY (US$ million) H1'24 H1'25 Better/(Worse) EBITDA 791 818 3% Less cash outflows in respect of capital expenditures, customer acquisition costs and licence fees: Capital expenditures (133) (130) Customer acquisition costs and licence fees (92) (88) Fulfilment costs (37) (41) Rig
Slide 32: Income Statement
Income Statement YoY (US$ million) H1'24 H1'25 Better/(Worse) Revenue 2,137 2,221 4% Revenue (excluding Mobile Product Sales) 2,011 2,091 4% Cost of sales (1,089) (1,157) (6)% OPEX (257) (246) 4% EBITDA 791 818 3% Depreciation & amortisation expenses (344) (354) Gain on disposal of PPE and ROU asset
Slide 33: Solid Financial Position: Investment Grade Ratings Maintained
Solid Financial Position: Investment Grade Ratings Maintained Successful Deleveraging Leading to Improved Debt Ratios (US$ million) As of Jun 2024 As of Jun 2025 Gross Debt (1) 5,942 5,568 BBB/ Baa2 Investment Grade Gross Debt to EBITDA (2) 3.42x 3.11x Rating Net Debt (3) 5,728 5,319 Net Debt to EBI
Slide 34: Debt Maturity Profile
Debt Maturity Profile As of As of (US$ million) Jun 2024 Jun 2025 ▪ Current mix of fixed and floating rate debt approx. 60:40 Cash Balance 214 249 ▪ Effective interest rate was 3.96% in H1 2025, benefitting from Undrawn Facilities 1,537 2,048 recent downward trend in HIBOR starting in early May 2025
Slide 35: H1'25 Highlights
H1’25 Highlights 1) Fortifying Financial Strength 4) Tailored Technology Solutions Recent balance sheet deleveraging and full for Enterprise Customers impact of declines in local interest rates will yield financial benefits to HKT Uniquely positioned to support Hong Kong’s efforts to be a leading te