Asian Pay Television Trust : Presentation for the period ended 30 June 2023

ASIAN PAY TELEVISION TRUST

30 JUNE 2023

IMPORTANT NOTICES AND DISCLAIMERS

Disclaimers

Asian Pay Television Trust ("APTT") is a business trust registered under the Business Trusts Act 2004 and listed on the Main Board of the Singapore Exchange Securities Trading Limited. APTT Management Pte. Limited ("AMPL") is the trustee-manager of APTT (the "Trustee-Manager"). The Trustee-Manager is a wholly owned subsidiary of Dynami Vision Pte. Ltd. ("Dynami") which is a Singapore-incorporated company ultimately owned by Mr Lu Fang-Ming, the former Chairman of Asia Pacific Telecom Co., Ltd.

This presentation has been prepared based on available information. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, neither APTT, AMPL, their directors, employees or agents, nor any other person accepts any liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence on the part of APTT, AMPL or their directors, employees or agents. In particular, no representation or warranty is given as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in the information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Each recipient of the information should make its own independent assessment of the information and take its own independent professional advice in relation to the information and any action taken on the basis of the information.

General Securities Warning

This presentation is not an offer or invitation for subscription or purchase of or a recommendation of securities. It does not take into account the investment objectives, financial situation and particular needs of the investor. Before making an investment in APTT, the investor or prospective investor should consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances and consult an investment adviser if necessary.

Information, including forecast financial information, in this presentation should not be considered as a recommendation in relation to holding, purchasing or selling securities or other instruments in APTT. Due care and attention has been used in the preparation of forecast information. However, actual results may vary from forecasts and any variation may be materially positive or negative. Forecasts by their very nature, are subject to uncertainty and contingencies many of which are outside the control of APTT. Past performance is not a reliable indication of future performance.

Investors should note that there are limitations on the rights of certain investors to own units in APTT under applicable Taiwan laws and regulations. Such investors include individuals or certain corporate entities in the People's Republic of China ("PRC"), the Taiwan Government and political entities and other restricted entities and restricted persons. For further information, investors should refer to the prospectus dated 16 May 2013 issued by APTT and the deed of trust constituting APTT dated 30 April 2013, as amended and restated by a First Amending and Restating Deed dated 28 April 2022.

1

AGENDA

1. 30 JUNE 2023 RESULTS
2. OUTLOOK & STRATEGY
3. BUSINESS OVERVIEW
4. BUSINESS DRIVERS

2

30 JUNE 2023

RESULTS

3

HIGHLIGHTS

Total revenue in constant NT$ increased for the third consecutive quarter, reflecting the higher contribution from Broadband

Lower revenue and EBITDA due to unfavourable foreign exchange rate movements

•

•

Revenue and EBITDA at S$68.3 million and S$38.7 million for Q2 and S$135.3 million and S$78.1 million for 1H EBITDA margin at 56.7% for Q2 and 57.7% for 1H

Continued Broadband growth momentum, with double-digit NT$ revenue growth in Q2 2023

• Growth in Broadband subscribers and higher ARPU led to higher revenue in S$ and NT$ for three years, cushioning the impact of the decline in Basic cable TV business

Added c.10,000 net subscribers in Q2 2023, expanding total subscriber base to c.1,318,000

• Added c.7,000 Premium digital cable TV and c.8,000 Broadband subscribers in the quarter
• Steady increase in Premium digital cable TV and Broadband subscribers over the past five years has consistently more than offset Basic cable TV churn

Lower capital expenditure

•

•

As a percentage of revenue, capital expenditure was 11.0% for Q2 and 10.2% for 1H - within industry norms Capital expenditure decreased by 29.3% for Q2 and 20.0% for 1H

4