Credit Suisse Asian Investment Conference 20-21 March 2018

Singtel: Asia’s Leading Commuications Group

Forward looking statement – Important note

The following presentation contains forward looking statements by the management of SingaporeTelecommunications Limited ("Singtel"), relating to financial trends for future periods, compared to theresults for previous periods.

Some of the statements contained in this presentation that are not historical facts are statements of futureexpectations with respect to the financial conditions, results of operations and businesses, and relatedplans and objectives. Forward looking information is based on management's current views andassumptions including, but not limited to, prevailing economic and market conditions. These statementsinvolve known and unknown risks and uncertainties that could cause actual results, performance or eventsto differ materially from those in the statements as originally made. Such statements are not, and shouldnot be construed as a representation as to future performance of Singtel. In particular, such targets shouldnot be regarded as a forecast or projection of future performance of Singtel. It should be noted that theactual performance of Singtel may vary significantly from such targets.

“S$” means Singapore dollars, "A$" means Australian dollars and “US$” means United States dollars unlessotherwise indicated. Any discrepancies between individual amounts and totals are due to rounding.

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Asia’s leading communications group

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688 million1 mobile customers

#1 or #2 operator1 in 18 out of 21 countries

~75% of 9MYFY18 underlying net profit from operations outside Singapore2

Regional Scale & Diversification• Market-leading operators in Singapore, Australia, India,

Indonesia, Thailand, Philippines and across Africa

Integrated fixed & wireless operator• Delivering seamless entertainment & communications

experience to customers• Growth engines in cyber security, digital marketing, cloud

and analytics

Reaping benefits from digitalisation• ~24% of 9MFY18 revenue from ICT & digital businesses• Productivity & customer experience improvements• Well-placed to benefit from opportunities in the digital

economy

Strong Dividend Track Record• Strong cash generation and disciplined capital allocation,

supporting returns to shareholders• One of the strongest credit ratings amongst global telcos

Our Diversified Operations

1. All figures as at 31 December 2017.2. Includes losses from Trustwave and Amobee.

Our group strategy and key business segments

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Group ConsumerDiversified portfolio of telecom assetsoffering consumer related functionsincluding mobile, broadband & Pay TV

Group EnterpriseAsia’s leading telco and ICT servicesprovider

Cyber security

Cloud computing

Business mobility

Data centres

Smart cities

IT services

Group Digital LifeNew engines of growth in the digitalspace

Digital marketing

Over-the-top video

Data analytics

VISIONTo be Asia Pacific’s best communications technology company

TRANSFORMATION STRATEGYStrengthen & drive growth from the core | Create innovative, differentiated digital services

GOALSCreate sustainable long-term growth | Deliver superior returns to shareholders | Create positive impact on stakeholders

Three pronged approach to Singtel transformation

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Digitising core operating model

Value-added services & partnerships to

build digital ecosystem &

enhance the core

Building new standalone businesses where we have a right

to play

Digitising core operating model – driving productivity and better customer experience

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2,056 2,061 2,141 2,225

811 840877

929

Q4FY17

2,868

Q3FY18

3,154

Q2FY18

3,018

Q1FY18

2,901

My Singtel users My Optus users

17%

20%

Q2FY18

17%18%

Q1FY18 Q3FY18

16%

17%

Q4FY17

12%

16%

OptusSingtel

Q3FY18

58%

55%

Q2FY18

59%

51%

Q1FY18

61%

50%

Q4FY17

54%

50%

Singtel Optus

1. Customers who access the My Singtel or My Optus app at least once a month2. Includes mobile, broadband and Pay TV services. 3. Self-help transactions include activation, recharge, payments, usage & billing enquiries.

Monthly active app users1 % of online sales transactions2

% of self-help transactions2,3

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Digital content Others

Spotify KKBox Deezer Savvn TIDAL

Home services

Smart Home solutions

Payments

WiFi Mesh

Security

Value-added services & partnerships to build digital ecosystems

Building new standalone digital businesses

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Independent global ad-tech leader

Comprehensive technology stack with integrated Demand Side

Platform (DSP) & Data Management Platform

(DMP)

Rich insights from geolocation data

Advanced analytics playerdelivering consumer insights

Leading OTT video service in emerging markets

Expansive content catalogue

S$m

111 184369

511626

923

0

300

600

900

1200

FY13 FY14 FY15 FY16 FY17 9MFY18

GDL RevenueS$m

CAGR +54%

-104

-170 -180

-137-122

-51

-200

-150

-100

-50

0FY13 FY14 FY15 FY16 FY17 9MFY18

GDL EBITDAS$m

Growth in revenue and narrowing losses

Cyber security

End-to-end managed services across the protection stack and security operations

Managed services

Help companies in the day-to-day running of their ICT infrastructure

Cloud solutions

Differentiated cloud platforms and service offerings

Smart Nation

Lead partner for Singapore's Smart Nation program

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Leveraging new growth engines in digital enterprise

Stable core and diversified operations support strong cash generation…

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13,20512,404

16,71116,961

9MFY189MFY17FY17FY16

S$’m

Group EBITDAS$’m

Group RevenueS$’m

Group free cash flow

….…

3,8543,689

4,9985,013

9MFY189MFY17FY17FY16

….…

2,806

2,291

3,054

2,718

9MFY189MFY17FY17FY16

….…

+7% +5%+23%

-2% Stable+12%

698580

490 2241,816

9MFY17

2,004

FY17

1,5921,514

2,604

1,906

2,711

2,131

9MFY18FY16

Regional associate’s pre-tax earnings

….…

S$’m +4%

Airtel pre-tax earnings

-9%

Ex-Airtel +5%

Ex-Airtel +12%

… & attractive returns for shareholders

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6.8 6.8 6.8 6.8 6.8 6.8

10.0 10.0 10.7 10.7 10.7

3.0

FY15

17.5

FY14

16.8

FY13

9.8

FY17

17.516.8

FY16

17.5

1HFY18

78%91% 86%

117%106%

74% 74% 74% 73% 73%

Full year DPS as % of FCF1

Full year DPS as % of underlying EPS

Sing

apor

e ce

nts p

er sh

are

Interim dividend Final dividend Special dividend

1. Free cash flow after interest and tax.

Dividend Policy: 60 – 75% of underlying net profit