Hkbn Ltd. · HKEX:1310

Hkbn — FY2025 Earnings Presentation

31 slides from Hkbn's earnings presentation, 2025

1. Slide 1: HKBN Ltd. FY2025 annual results

   HKBN Ltd. 1310 2025 8 31 2025 8 31 2025 • 4% 111.29 7% • 4% 24.51 • 9% 6.77 • 1,000 2.07 • 18.9 2024 16.5 –1–

2. Slide 2: AI, OTT and 25Gbps GigaFast

   (AI) OTT 25Gbps GigaFast –2–

3. Slide 3: AI and 5G

   AI AI AI • 5G • • • • –3–

4. Slide 4: Financial results summary

   1 2025 2024 8 31 8 31 11,128,542 10,650,922 +4% – 5,531,272 4,828,376 +15% – 1,798,770 1,846,125 -3% – 2,332,664 2,344,060 -0% – 1,465,836 1,632,361 -10% 206,864 10,277 >100% 1,2 2,451,160 2,364,759 +4% 1,3 677,070 620,145 +9% 1,2,3 206,864 10,277 >100% 286,773 274,222 +5% 351,337 366,258 -4% 822,20

5. Slide 5: ARPU and subscribers

   2 2025 2024 8 31 8 31 8,220 8,163 +1% – 107 110 -3% – 335 357 -6% 2,646 2,596 +2% – 907 907 – – 290 343 -15% ARPU 4 $186 $182 +2% 181 217 -17% 3,670 3,863 -5% –5–

6. Slide 6: ARPU notes

   (1) (2) (3) (4) ARPU ARPU ARPU ARPU –6–

7. Slide 7: Enterprise solutions and GigaFast

   2025 4% 15% 55.31 5 GigaFast 2.5Gbps 25Gbps MetroNet 100Gbps 2025 1 Biz in Motion GigaFast 600 23.33 90.7 2% 265 –7–

8. Slide 8: Media and OTT services

   Netflix Disney+ myTV SUPER HBO Max APRU 2% 186 6% 70.86 17% 7.10 1.89 2,200 1,900 52% 900 1,000 2.07 4% 24.51 9% 6.77 8,600 1.46 1,800 5,000 1.31 300 1.09 –8–

9. Slide 9: 2026 outlook and network plans

   2026 25Gbps GigaFast FTNS 100Gbps MetroNet 2026 2Gbps 25Gbps GigaFast 2025 8 • CENI 2026 • • • • –9–

10. Slide 10: 11.92 12.17 114.16 115.28 102.24 103.11 3.92 4.94 5.0 4.5 4.7 4.9 6.2% 7.2%

    2025 8 31 11.92 2024 8 31 12.17 114.16 2024 8 31 115.28 102.24 2024 8 31 103.11 2025 8 31 3.92 2024 8 31 4.94 2025 8 31 5.0 2024 8 31 4.5 2025 8 31 4.7 2024 8 31 4.9 6.2% 2024 8 31 7.2% 2025 8 31 3.0 2024 8 31 1.4 2025 8 31 2024 8 31 2025 8 31 14.70 2024 8 31 13.49 2025 8 31 – 10 –

11. Slide 11: 2023 2025 2.5 52.50 3.95% 3,800 3,700 2.71 2.97 2,600 1983 7.80 1.00 –

    2023 6 1 2025 11 24 2.5 52.50 3.95% 9 2025 8 31 3,800 2024 8 31 3,700 2025 8 31 2.71 2024 8 31 2.97 2,600 1983 7.80 1.00 – 11 –

12. Slide 12: II III Plus IV

    2025 8 31 2025 8 31 3,670 2024 8 31 3,863 II 2025 3 III III Plus III Plus 2023 10 IV 2023 5 11 IV IV 2025 8 2025 8 31 II IV 2025 8 31 2025 12 16 2025 2025 75% – 12 –

13. Slide 13: Twin Holding and TPG Wireman

    2025 12 30 2025 8 31 18.9 2024 8 31 16.5 2025 2026 1 6 2025 2025 12 11 2025 12 16 2025 2025 12 10 4 30 183 17 1712 1716 2025 12 23 2025 12 30 2025 12 22 4 30 183 17 1712 1716 2025 8 31 2019 4 30 Twin Holding Ltd Twin Holding TPG Wireman, L.P. TPG Twin Holding TPG 970,468,828 83,661,106 11.60 2025 3

14. Slide 14: C1 C3 – –

    2025 8 31 2025 8 31 2025 8 31 2025 8 31 C1 C3 2025 8 31 – 14 –

15. Slide 15: Publication of results

    (www.hkexnews.hk) (www.hkbnltd.net) 2025 8 31 2025 10 31 – 15 –

16. Slide 16: Consolidated income statement

    2025 8 31 2025 2024 3 11,128,542 10,650,922 4(a) 8,783 24,609 (7,085,617) (6,661,678) 4(b) (3,125,440) (3,124,364) 4(d) (710,435) (860,236) – (128) 4 215,833 29,125 5 (8,969) (18,848) 206,864 10,277 6 15.0 0.8 6 14.0 0.7 – 16 –

17. Slide 17: Statement of comprehensive income

    2025 8 31 2025 2024 206,864 10,277 (2,122) 10,422 – 106 (2,122) 10,528 204,742 20,805 – 17 –

18. Slide 18: Consolidated balance sheet

    2025 8 31 2025 2024 7,816,507 7,816,507 2,012,209 2,367,621 3,154,104 3,132,945 534,464 628,457 434,919 464,954 – – 181,437 137,853 52,585 56,023 14,186,225 14,604,360 92,861 106,197 7 976,438 969,297 440,253 516,316 364,580 255,073 230 183 1,192,160 1,217,406 3,066,522 3,064,472 – 18 –

19. Slide 19: Consolidated balance sheet (continued)

    2025 8 31 2025 2024 8 952,963 945,879 1,125,782 950,361 583,301 606,612 136,796 99,178 15,744 14,877 4,239,769 272,601 144,813 145,580 124,942 159,662 – 10,588 14,071 29,990 7,338,181 3,235,328 (4,271,659) (170,856) 9,914,566 14,433,504 153,583 177,301 514,418 593,204 246,897 348,542 67,997 55,191 6

20. Slide 20: Dividends and notes

    1 2025 8 31 2 2025 8 31 42.72 (i) 2026 4 9 39.91 (ii) 5.83 15 (iii) 1.45 16 12 – 20 –

21. Slide 21: Notes

    2 • 1 2020 1 2022 • 16 • 7 7 1 2020 2022 1 1 2020 2022 16 – 21 –

22. Slide 22: Revenue analysis

    2 7 7 3 (i) (ii) (iii) (iv) (a) (i) (ii) (iii) (iv) 2025 2024 4,687,385 4,574,694 1,599,495 1,071,683 301,693 350,362 6,588,573 5,996,739 3,264,606 3,478,486 1,275,363 1,175,697 15 11,128,542 10,650,922 2,332,664 2,344,060 5,531,272 4,828,376 1,798,770 1,846,125 1,465,836 1,632,361 11,128,542 10,650

23. Slide 23: Notes

    3 (a) 2025 2024 8 31 2025 8 31 12.4% 2024 14.5% (b) (i) (ii) (iii) – 23 –

24. Slide 24: Segment information

    3 (b) (iii) 2025 2024 8 31 2025 2024 2025 2024 2025 2024 10,107,064 9,663,382 1,297,398 1,318,075 11,404,462 10,981,457 (42,062) (33,459) (233,858) (297,076) (275,920) (330,535) 10,065,002 9,629,923 1,063,540 1,020,999 11,128,542 10,650,922 2,413,487 2,645,384 851,119 833,102 3,264,606 3,478,486 7,6

25. Slide 25: EBITDA reconciliation

    3 (b) (iv) 2025 2024 2,451,160 2,361,044 (710,435) (860,236) 8,734 9,625 (822,208) (840,828) (351,337) (366,258) (286,773) (274,222) (73,308) – 215,833 29,125 (v) (i) (ii) 2025 2024 10,065,002 9,629,923 598,420 590,620 465,120 430,379 1,063,540 1,020,999 11,128,542 10,650,922 – 25 –

26. Slide 26: Other income and operating costs

    4 2025 2024 8 31 8 31 (a) (8,734) (9,625) 12,011 7,117 (3,595) (22,381) (174) – – 3,715 (8,291) (3,435) (8,783) (24,609) (b) 36,614 26,870 – 664,924 676,389 – 157,197 163,843 67,045 56,765 4(c) 974,667 1,066,852 351,337 366,258 286,773 274,222 73,308 – 513,575 493,165 – 56,600 50,884 – 90,399 75,061

27. Slide 27: Cost breakdown

    4 2025 2024 8 31 8 31 (c) 1,330,384 1,414,433 124,507 128,205 1,454,891 1,542,638 (76,424) (48,414) (16,966) – (176,748) (188,227) (210,086) (239,145) 974,667 1,066,852 (d) 644,438 833,130 1,022 2,709 23,386 22,861 20 468 18,968 – 22,601 1,068 710,435 860,236 – 27 –

28. Slide 28: Finance costs and other items

    4 2025 2024 8 31 8 31 (e) 372,377 408,339 – 664,924 676,389 – 157,284 164,439 563,429 472,427 8,572 16,317 – 3,598 3,598 – 400 400 – 660 540 – 319 1,001 67,045 56,765 3,123,126 3,334,002 5,755 7,464 5 2025 2024 8 31 8 31 120,039 172,612 361 (763) 9,894 10,777 1,054 (1,163) (122,379) (162,615) 8,969

29. Slide 29: Taxation and earnings per share

    5 2025 16.5% 2024 16.5% 200 8.25% 16.5% 2024 6 (a) 206,864,000 2024 10,277,000 2025 2024 8 31 8 31 9 1 1,311,599 1,311,599 II (760) (760) 1,310,839 1,310,839 69,680 – 1,380,519 1,310,839 (b) 2025 8 31 206,864,000 2024 10,277,000 II 2025 2024 8 31 8 31 II 1,380,519 1,310,839 97,642 167,322 1,478,161

30. Slide 30: Trade payables ageing

    7 2025 2024 8 31 8 31 30 425,766 404,816 31 60 229,529 263,951 61 90 98,551 109,524 90 222,592 191,006 976,438 969,297 30 90 8 2025 2024 8 31 8 31 30 445,477 449,928 31 60 184,870 140,924 61 90 145,713 122,060 90 176,903 232,967 952,963 945,879 – 30 –

31. Slide 31: Notes on borrowings and shares

    9 (i) 2025 2024 8 31 8 31 15.5 2024 15 229,233 196,740 18.9 2024 16.5 279,516 216,414 508,749 413,154 2025 2025 1,478,921,568 2024 1,311,599,356 (ii) 2025 2024 8 31 8 31 16.5 2024 20 216,414 262,320 – 31 –

HKBN — FY2025 Earnings Presentation on 6ix