Tencent Music Entertainment Group Class A · HKEX:1698
Tencent Music Entertainment Group Class A — Q2 2026 Earnings Presentation
18 slides from Tencent Music Entertainment Group Class A's earnings presentation, August 2026
Slide 1: Tencent Music Entertainment Group Investor Presentation
TENCENT MUSIC ENTERTAINMENT GROUP Investor Presentation (NYSE: TME & HKEX: 1698) Aug 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Tencent Music Entertainment Group (the “Company”) solely for informational purposes and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, adviser
Slide 3: Company Overview
ys _N 77 \ TENCENT MUSIC ENTERTAINMENT COMPANY OVERVIEW
Slide 4: Our Content-and-Platform Dual Engine Strategy
Our Content-and-Platform Dual Engine Strategy Classic Multi-Device Licensed Coverage Music IPs Concerts Online & Live Music Expanded Events Multi-Platform Genre Portfolio Coverage Content Artist Online Platform Merchan- Karaoke dising Omni-Channel Self-Produced Connectivity Content Advertising Long-
Slide 5: All-in-One Music and Audio Entertainment Destination
All-in-One Music and Audio Entertainment Destination Preliminary Draft To create endless possibilities with music and technology Revenues from marketing and Revenues from membership consumption services2 / YoY Total revenue / YoY growth Gross margin / Adj. net margin services / YoY growth growth RMB
Slide 6: Business Overview
TENCENT MUSIC ENTERTAINMENT
Slide 7: Integrated Content Ecosystem and Comprehensive IP Collaborations
Integrated Content Ecosystem and Comprehensive IP Collaborations Pan-IP: Live Events, Merchandise, Licensed Copyrights Self & Co-Produced Content Artist-Fan Interactions and More • Hundreds of domestic and international content • Proprietary technology and deep user insights to • Hosted a series of
Slide 8: Omni-Channel Platform and Diversified Product Matrix
Omni-Channel Platform and Diversified Product Matrix PC nario Coverage All-Sce In-Car Smart Ecosystems Speakers Kugou Music QQ Music Ximalaya Kuwo Music ct Matrix PrFoudllu-Sp ctrum ix – hensiveeU ser RUs Bodian Music a tr pre ea er R WeSing M om ch e Smartphones u ct C Wearables ac od Kugou Concept
Slide 9: Extensive IP-Centric Partnerships to Offer Immersive Experience
Extensive IP-Centric Partnerships to Offer Immersive Experience An Integrated Fan Economy Platform Self-Reinforcing Loop Artist Concert Management Promotion Ticketing Merchandising Expand IP partnership Diversify gated and offline offerings privileges Flagship Live Performances ➢ G-DRAGON 2025 Tour
Slide 10: Innovative Offerings and Multi-Faceted Monetization Models
Innovative Offerings and Multi-Faceted Monetization Models Membership Advertising Multi-Faceted Models Strategic Multi-Tier Subscription Architecture Innovative and Diverse Ad Formats Live events/artist management Premium, Fan Club IP-Centric Subscriptions Long-form audio Super VIP (SVIP) • 20mn+ SV
Slide 11: AI-Powered Creation, Engagement, and Quality Growth
AI-Powered Creation, Engagement, and Quality Growth AI-Driven Creation AI-Driven Engagement AI-Driven Efficiency Democratizing Production Smart Discovery AI-Generated Ads • AI agents deliver more personalized music • Empowers 150k+ professional creators with full-cycle recommendations and simplify i
Slide 12: Financial Highlights
ys _N 77 \ TENCENT MUSIC ENTERTAINMENT FINANCIAL HIGHLIGHTS
Slide 13: Solid Monetization and Profitability
Solid Monetization and Profitability 1 Monetization Profitability 7.61bn RMB 44.2% +11.0% YoY -0.2ppt YoY 2Q26 Revenues from music related services2 2Q26 Gross margin RMB4.79bn RMB2.81bn +8.1% YoY 2.78bn RMB +16.2% YoY +5.3% YoY Revenue from membership Revenues from marketing and services3 consumpti
Slide 14: Diverse Revenue Streams and Healthier Revenue Mix
Diverse Revenue Streams and Healthier Revenue Mix Anchored in membership Robust music related revenue performance Catalyzed by other marketing and consumption services Total Revenues Music Related Revenues (RMB mm) (RMB mm) 13,000 85% 82% 82% 83% 12,000 81% 1 7,605 11,000 6,969 7,099 6,854 10,000 6,
Slide 15: Healthy Gross Margin and Profitability
Healthy Gross Margin and Profitability Gross profit and margin Non-IFRS net profit1 and margin (RMB mm) (RMB mm) 44.4% 44.7% 44.9% 43.5% 44.2% 31.3% 29.9% 31.1% 29.3% 29.6% 2,781 3,949 2,640 2,581 3,862 2,477 3,749 2,333 3,682 3,546 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Gross profit Gros
Slide 16: Solid Cash Position and Valuable Investment
Solid Cash Position and Valuable Investment Robust cash position Equity investments3 RMB 44.22bn RMB 19.15bn Cash, cash equivalents, term deposits and short-term investments1 Financial assets at fair value through other comprehensive income1 Strong cash generation ability RMB 2.69bn RMB 2.86bn Inves
Slide 17: Appendix: Unaudited Non-IFRS Financial Measures
Appendix Unaudited Non-IFRS Financial Measures TENCENT MUSIC ENTERTAINMENT GROUP UNAUDITED NON-IFRS FINANCIAL MEASURES Three Months Ended June 30 Six Months Ended June 30 2025 2026 2025 2026 RMB RMB US$ RMB RMB US$ Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited (in millions, except per
Slide 18: Thank You!
Contact Us ir@tencentmusic.com https://ir.tencentmusic.com THANK YOU!
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