1H 2026 Financial Results Webcast Briefing

Good morning everyone. Thank you for joining Star Express half-26 results call. My name is Crystal and I take care of the investor relations and this morning we have with us our senior management led by our chief executive, Michael Ethan. Hi. Deputy CEO and chief of consumer business, Matt Williams. Morning. CFO Jackie Lo. Good morning. And chief of enterprise business group, Dan Kit Yong. Hey morning. As usual, Before I see the measurement, we'll bring you through a quick presentation before opening the floor to Q&A, say after. Would you like to open the mic, please? Thank you very much, Crystal. And first of all, good morning to all of you, and welcome to our Q2 2026 earnings call. And as always, over many years, thank you for your time and attention to the startup story. So a lot of what I know we are all collectively focused on is what we call an incredibly dynamic consumer marketplace, but also a marketplace while corrosive is complex and going through change with downsides, perhaps

also some opportunities. So as we have been doing for the past four quarters, I'd like to start by updating you on our progress on where we stand on the four strategic pillars that we outlined and set out at the end of 2025, frankly. So first consumer, and this is actually where I'd like to spend a bit more time talking about some of the things that preoccupy all of us as a collective. The market, first of all, as we know, which has unfortunately after a period of some minor stabilization at the end of 25 and the beginning of 26, has now returned to a period of corrosive competition driven by the incumbent with responses from the smaller operators. And unfortunately, ultimately, this will cannibalize and increase transactional churn for all. Now our focus on the other hand, as you know, has been on multi-brand and multi-market segmentation plus improving the monetization that we have by focusing on quality and customer value, not price. So therefore, what have we been doing over the past quarter? First, monetization. So we have focused on moving our subscribers onto our higher value 5G plus plans under our Starhub brand.

So through this, they get better product, more value, and we see materially better yield metrics on all fronts when we do this. Higher R-pool, lower churn, higher NPS. So this move of our subscribers is proceeding at pace on our 5G plus plans as Matt will talk about some more. Second within consumer multi-brand multi-market segmentation. So the market as we've been talking about is split between three segments premium largely us and Singtel digital which is circles my republic which are the MVNOs as well as Gomor and Giga which are the in-house brands and of course the value segment which is fast large and growing so Simba eight now high parts of of M1 and M1 max. And what the market is seeing and has been seeing is premium and digital shifting to value, reducing industry R2 as customers downgrade their plans. On the other hand, what we are doing is driving leading brands across these three segments, premium with Starhub, digital with Giga, which has been holding its own frankly,

and 8, which is the fastest growing brand in Singapore with explosive year on year growth. But even here, we are improving yield as we push our customers to higher price, higher value plans and Mac will update on this. Now, also notably, we have three brands operating across mobile and broadband, Starhub, 8 and MyRepublic, and hence able to harvest and cross-sell effectively. So the consumer market has deteriorated overall over past years as we know, but we have softened this to some degree by holding it in time, even growing our revenue market share. And as you probably know, our lead to the number three operator has now been extended to about 650 basis points. And third, within consumer, we are driving consolidation, as we all know that Gini is kind of out of the bottle for the sector here. So you saw us acquire MyRepublic broadband in phases, and we now own 100% of a fantastic broadband business which dominates a high value gamer and geek segment. A couple of years ago, we launched MyRepublic 5G, and now we are moving MyRepublic 4G onto our platform