1Q 2026 Business Update Conference Call

Good morning, everyone. Thank you for joining the first quarter to be 26 business to form a public call. And it's Kristal and I take care of startups investor relations. This morning, we have with us a senior management led by our chief executive, Nicole Ethan, deputy CEO and chief of consumer business Matt Williams, CFO Jackie low, and chief of enterprise business group tank it young. As usual, Nick, you'll and senior management will bring you to a quick presentation before opening the floor to Q&A thereafter. Nikhil, over to you, Bix. Thank you very much, Crystal, and good morning to all of you and welcome to our Q1-2026 earnings call. And thank you for your time and attention to the Starhub story, as always. So can we move to the first slide, Crystal? So I'd like to start by outlining, you know, where we stand and how we are positioning ourselves similarly to what I've done in past quarters and how we are driving our strategy currently in this market in Singapore,

which as you know is difficult and very complex, but going through some change. So it's a period of what we have been calling in prior quarters, a period of dynamic flux. So I'd like to go through each of these four pillars in our strategy, which is a bit the same and a bit different from what we've talked about before. So in consumer, first on the market, as we've talked about before, the Singapore consumer telco market has faced probably the most extreme price competition that we've seen in any market in the world, which as you know, was catalyzed by the fourth operator, which has created broad market down draft. So mobile service revenues in the market and for ourselves have been falling. And when set off against telco fixed structures, what we all call negative operating leverage, this really erodes profitability. Now change is underway as we've talked about and it's really from two directions, not one. First sector consolidation will create more sustainable market structure. Second, and this is something that not all are aware of, cybersecurity and resilience requirements