Asian Pay Television Trust : Presentation for the period ended 31 March 2023

ASIAN PAY TELEVISION TRUST

31 MARCH 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 fully 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.

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AGENDA

1. 31 MARCH 2023 RESULTS
2. OUTLOOK & STRATEGY
3. BUSINESS OVERVIEW
4. BUSINESS DRIVERS

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31 MARCH 2023

RESULTS

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HIGHLIGHTS

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

Lower Q1 2023 revenue and EBITDA due to unfavourable foreign exchange rate movements

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Revenue and EBITDA at S$67.1 million and S$39.4 million for the quarter; EBITDA margin held steady at 58.7% Revenue in constant NT$ was up by 0.4% in the quarter compared to pcp

Total subscriber based crossed 1.3 million mark (added c.10,000 net subscribers in Q1)

• Premium digital cable TV and Broadband subscribers have been steadily increasing over the past four years
• Added c.6,000 Premium digital cable TV and c.7,000 Broadband subscribers in the quarter, which more than offset Basic cable TV churn
• Total subscriber base increased to c.1,308,000

Continued Broadband growth momentum

• Growth in Broadband subscribers and higher ARPU led to higher revenue in S$ and NT$ for 11 consecutive quarters, cushioning the impact of the decline in Basic cable TV business

Lower capital expenditure

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As a percentage of revenue, capital expenditure was 9.4% for the quarter - within industry norms Capital expenditure decreased by 5.1% for the quarter compared to pcp

Distribution

• Re-affirmeddistribution guidance of 1.05 cents per unit for the full year 2023 - 5% higher than 2022, to be paid in half-

yearly instalments of 0.525 cents per unit, subject to no material changes in planning assumptions	4