Disclaimer: This presentation contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Discussion of factors that may affect future results is contained in our recent filings with the Securities and Exchange Commission.

At a Glance December 2012

True Corporation Plc.

1

100.0% 99.41/% 100.0% 100.0%2/

True Group – Thailand’s convergence lifestyle leader 1

CP Group Public

shareholders

64.3% 35.7%

- Foreign 14.9% - Local 20.8%

Wireline/online Mobile Group Pay TV Wireline/Online Convergence & others

Reported under TrueOnline

• Fixed-line operator with 1.8 mn subs in Greater Bangkok area

• 1.5 mn Broadband Internet customers via ADSL, VDSL, DOCSIS 3.0 and fiber

• 100,000 domestic WiFi hotspots • 36.7% Broadband subscriber market

share3/

• 20.3 mn subs on 2G, HSPA+ & CDMA • 25.6% subscriber market share • Operates 3G+ reseller services on 850 MHz under TrueMove H brand • International call services: 006 (TDM), 00600 (VoIP)

• 1.8 mn subs (93% DsTV; 7% cable TV)

• Enhanced, secure broadcasting system with MPEG-4 & secure silicon

• Ad revenue is a key growth area

• Convergence/bundled packages • Digital content, media and online

games publisher • True App Center – develops

applications (220+) for iOS, BlackBerry and Android

• Payment and collection services through 4,000+ TrueMoney counters nationwide

Note: 1/ Indirectly holds 99.3% in True Move Co., Ltd. and 99.4% in Real Move Co., Ltd. (TrueMove H brand) 2/ Indirectly holds 100.0% in True Visions Group Co., Ltd. (which holds 99.3% in True Visions PLC and 99.0% in True Visions Cable PLC) 3/ Market share figure is as at June 30, 2012 (source: Company) 4/ Subscriber figures are as at Sep 30, 2012 and estimated shareholding figures are as at Mar 15, 2012

Key strategic milestones Transformation from a fixed-line concessionaire to a quad-play operator

2

1991: Started fixed-line telephone service under a B-T-O concession with TOT (first 2 mn lines)

1995: Launched cable TV service under UTV; merged with IBC in 1998 to form UBC

2002: TA Orange launched its cellular service under the “Orange” brand

2003: Launched Broadband services

2006: Achieved nationwide mobile coverage (92%) - Completed UBC tender offer; rebranded as “TrueVisions’; expand pay TV services to mass market - Introduced first public WiFi service

2007: Launched the first bundled package “True Life Freeview” which offered popular convergence package of TrueMove and TrueVisions

2011: Completed Hutch acquisition; started rolling out commercial 3G services; launched DOCSIS 3.0 Cable Modem network

2009: First Thai operator to launch Apple’s iPhone 3G; offered 3G 850 MHz trial service

2012: expanded WiFi network to 100,000 hot spots; activation of MPEG-4 broadcasting system

Thai telecom industry’s competitive landscape NTC/NBTC

TOT

Mobile 2G concession

Mobile 3G TOT’s Thai Mobile

AIS

CAT BFKT

Mobile 2G concessions

Mobile 3G CAT Telecom

MVNO/Reseller

Equipment lease and O&M

RealMove (TrueMove H brand)

TrueMove

DTAC

AIS’s DPC

Concession

Mobile license

MVNO/Reseller Concession

Fixed-line license

Fixed-line concessions

Wire-line license

True

TT&T

TUC

Concession Type-3 telecom license

Industry regulator

3

7.4 9.5 9.0 11.8 11.9 11.5 10.7 9.9 9.7 10.2 9.8 9.8 10.0

(1.9) (0.3)

1.8 5.1 5.1 7.6 5.7 7.2 6.2 5.0 2.4

2.5 2.7 2.6 2.3 2.2

7.4 9.5 9.0

9.8 11.6 12.9

15.7 17.3 19.8 18.5 19.6 18.4 17.1

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 TrueOnline True Mobile TrueVisions

Bt bn

14.3 18.1 20.1 22.6 22.6 22.8 23.0 24.0 24.5 26.0 26.4 26.0 26.9

1.7 4.5 8.2 22.3 22.3 23.8 22.8 23.6 23.3

27.2 8.4 8.9 9.4 9.5 9.6

9.7

14.3 18.1 20.1 24.2

27.0 30.4 41.5

50.5 51.8 51.9 52.6 52.6 56.8

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 TrueOnline True Mobile TrueVisions

Bt bn

50% 49% 44%

38% 42% 40% 36% 33% 37% 35% 35% 33% 27%

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11

TrueOnline True Mobile TrueVisions Group

Group long-term financial trends Service Revenue NIOGO

EBITDA

EBITDA margin*

*Segment results are presented before intersegment elimination

(5.8) (5.0) (4.3)

(1.6)

(4.5) (3.0) (3.8)

(6.0)

(1.2) 0.1 (0.5) (1.4)

(5.4)

'99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 TrueOnline True Mobile TrueVisions Group

Bt bn

4

* on total revenue excluding IC and network rental revenue

42 38 36 33 33 32 32 31

32 29 29 26 22 37 40 42

11 11 11 9 12 11 11 11

85 78 76 68 67

80 83 84

2006 2007 2008 2009 2010 2011 1H12 3Q12 TrueOnline True Mobile TrueVisions

Bt bn

Funding in place to support business expansion

Higher long-term debt in 3Q12 mainly to support TrueMove H service expansion

The successful issuance of the 6-billion-baht bond in early October will facilitate True Group’s future business expansion

5

Long-term debt composition

First-mover advantage for 3G+ mobile services nationwide; expand 2G coverage/capacity in provincial areas with high growth potential (mainly Northeast)

Secure Broadband leadership with the launch of DOCSIS 3.0; enhance fiber services for enterprise segment; maintain Thailand’s largest and fastest Wi-Fi network (supports data off-loading for 3G services)

Further strengthen convergence platform by developing content and applications to enhance customer loyalty and reduce churn as well as simplifying convergence proposition to make it more appeal to the Thai audience

1

2

4

Key investment & growth strategy

HDTV via DOCSIS 3.0; MPEG-4 enhanced broadcasting system to eliminate threat from piracy and secure the premium pay TV market; capture advertising growth potential by further expanding into the mass market

3

6

Seek regional business opportunities 5

True Mobile Group shines in the postpaid market

True Mobile Group outperformed the market with rising postpaid market share True Move H reached 2.5 mn subscribers by the end of 3Q12

High-value postpaid subscribers dominated customer base 75% of subscribers came from outside of True Group

Key drivers were Thailand’s most extensive 3G+ coverage, attractive device-bundling packages, and innovative applications and content

7

1,711 1,814 1,927 2,139 2,361

23.5% 24.2% 24.8%

26.4% 27.8%

3Q11 4Q11 1Q12 2Q12 3Q12

Postpaid Sub Market share (Sub)

‘000 subscribers

+10.4% QoQ +38.0% YoY

TrueMobile postpaid subscribers TrueMobile postpaid revenue

2,566 2,755 2,882 3,220 3,518

20.8% 20.9% 21.5% 22.9%

24.1%

3Q11 4Q11 1Q12 2Q12 3Q12 Postpaid revenue Market share (revenue)

Bt mn

+9.3% QoQ +37.1% YoY

Net adds +37 +102 +113 +212 +222 (‘000)

TrueMove H positioned to capture growth in mobile data Officially launched on Aug 30, 2011

Reached 2.5 mn subscribers by 3Q12; FY12 postpaid subscriber target already achieved

Well-positioned to capture growth in mobile data/Internet markets

• Thailand’s most extensive 3G+ coverage

• ~ 100,000 domestic Wi-Fi hot spots

• True App Center has developed 220+ apps for iOS, BlackBerry and Android platforms (H-perience i.e. H TV, H Music)

• Launched device-bundling promotions and bundled packages with exclusive content from TrueVisions

92.5%

TRUE Corp

True Mobile Group

Real Future

Marketing Contract

CAT

BFKT Network

RealMove (TrueMove H brand)

3G 850 MHz (reseller)

BITCO Operator

HWMH

HCAT CDMA

Lease Agreement

Wholesale Agreement

99.99% 99.92%

73.92%

99.40% 100.00%

TrueMove 2G 1800 MHz/ 3G 850 MHz

trial

True Mobile Group Structure

8

Thailand mobile non-voice market size*

Mobile non-voice market driven by 3G & smartphones 9

15,000 20,962 21,021 26,148 35,220

9.9% 13.3% 13.4% 15.8%

19.2%

2007 2008 2009 2010 2011

Market value % service revenue

Bt mn Bt mn

* Consisting of TrueMove, TrueMove H, Hutch, AIS and DTAC ** DTAC restated its voice/non-voice revenue breakdown for the 2009 results (no restatements available for its 2007-2008 results)

25,274 35,989

18.6% 24.0%

9M11 9M12

True Mobile Group targets & strategic outlook High single-digit revenue growth in 2012

Expand 3G+ to cover every amphoe and 7,336 tambons in 77 provinces by the end of 2012

Discontinue Hutch CDMA service by January 2013 to facilitate subscriber migration to TrueMove H

Launch more device-bundling promotions and leverage nationwide service expansion as well as innovative apps and content

Capitalize on TrueMove’s expanding 2G footprint in low penetration/ high-growth potential areas (i.e., Northeast)

-

200

400

600

800

0

5

10

15

20

25

30

2011 2012 2013 2014

Blend

ed A

RPU

(Bt/s

ub/m

o)

subs

(mn)

3G Subs 2G Subs Blended 3G ARPU

Projected 3G subs & ARPU

Source: Company, BMI market forecast

10

Regulatory issues

The 3G 2.1 GHz spectrum auction was held on October 16. Real Future was officially notified as the auction winner on October 18, 2012. True Group already paid the first payment of the license fee while NBTC is now during the process of granting the 2.1 GHz spectrum licenses.

True Group has been collaborating well with CAT to amend six clauses in the 3G True-CAT agreements according to NBTC’s recommendation; this matter is expected to be resolved within this year.

11

maintains leadership in the Broadband market Platinum Trusted Brand Award Winner from Reader’s Digest in the Internet Operator category Continued success of ULTRA hi-speed Internet (10-200 Mbps), DOCSIS 3.0 expansion and

localized marketing activities resulted in Broadband net adds of 186k in 9M12 On track to achieve the full-year target net adds of 250k

FTTH services are offered in the high-end residential projects Ongoing network expansion: 3.4 mn DSL and DOCSIS homepasses in 38 provinces Maintain Thailand’s fastest WiFi service (up to 100 Mbps) with approximately 100,000

domestic hotspots

12

DOCSIS 3.0 NGN/NBN FTTx

Up to 400 Mbps

Up to 1 Gbps

Broadband subscribers

• DOCSIS 3.0 • FTTx • WiMAX • Quad Play • HD Content • NGN/NBN

>1.4mn

1.2mn

2011 and beyond ADSL, VDSL

1.0mn

Up to 50 Mbps

2002 2003 2004 2007 2008 2009 2010

128 Kbps 3.7k

TrueOnline’s Broadband Internet Roadmap

DOCSIS 3.0 continues strong growth Broadband leadership with 1.5 mn subscribers in 3Q12

DOCSIS 3.0 dominated quarterly net adds Launched 200 Mbps ULTRA hi-speed Internet via DOCSIS 3.0 in April 2012; the

standard speed was upgraded to 10 Mbps in October 2012. DOCISIS 3.0 facilitated triple-play offerings with the launch of “Combo set” (15 - 200

Mbps) This campaign supported higher ARPU

13

Broadband subscribers

1,254 1,301 1,335 1,403 1,466

47 34 68 62 55 1,301 1,335 1,403 1,466 1,521

3Q11 4Q11 1Q12 2Q12 3Q12

Previous subs Quarterly net adds

‘000 subscribers

712 709 707 710 718

Bt/sub/mo

Superior fiber optic network yields competitive advantage

Fiber and advanced electronics = greater reliability and stability

Shorter “last mile” connection improves Broadband performance – avg. within 3 km

Costly and difficult to replicate

True Fiber Optic Network in Bangkok Metropolitan Area (BMA)

Fiber rich (>240,000 core kilometres in BMA; >300,000 km nationwide)

TN

RCU RCU RCU RCU

Fiber Optic

(OSP - Copper)

CSN

780++ RCUs (instead of 70-80 central offices)

14

targets & strategic outlook

Expect Broadband market value to grow by ~20% annually over the next few years Plan to launch an ULTRA hi-speed Internet package offering maximum speed of 200

Mbps (via FTTH) and new Broadband VAS

Thailand Broadband market forecast by value

15

18 23

26 31

38 46

25% 16% 19% 21% 20%

2009 2010 2011 2012F 2013F 2014F

Broadband market size % growth

Bt bn

targets & strategic outlook (cont’d) Capture Broadband growth opportunity by maintaining market’s most competitive

and unique packages via ADSL and cable modem (DOCSIS 3.0) technologies Strengthen Broadband’s position by expanding Broadband coverage (ADSL and

DOCSIS) to 53 provinces by YE12 Leverage convergence platform by bundling DOCSIS 3.0 with TrueVisions Continue to enhance the customer experience with superior service

104% 95% 83%

30% 21% 10% 15% 4.4 6.4

10.2 12.9

15.7 18.7 20.8

-

2.0

4.0

6.0

8.0

2006 2007 2008 2009 2010 2011 2012E

Subscribers (mn)

Penetration rate (%)

Thailand Broadband penetration

Source: NBTC (subscriber), NESDB (household) Source: BuddeComm

Broadband penetration by household

16

Strategies in place to support future opportunity at Received strong response to the activation of the new broadcasting system in

July

Effectively prevent unauthorized accessing of our premium content with HD offerings of up to 17 channels

Premium subscribers increased with strong quarterly net adds in 3Q12

Continue to strengthen our portfolio with world-class sports, entertainment and other quality content as well as more value-added services

Launched attractive/ customized packages to match diverse lifestyles of customers

Partnered with satellite and cable TV operators to expand TrueVisions’ viewer base and better penetrate into the free-to-air market

More opportunity to market our services through a larger viewer base and boost advertising revenue growth

Strengthened opportunity in the mass CMDU market through the redeployment of the swapped set-top boxes

17

Advertising offers strong growth opportunities for

TrueVisions to expand mass market audience by Introducing more local content/ year-round TV series and reality shows

Rising eyeballs of TrueVisions’ content will facilitate our advertising opportunity

18

Advertising spending

0.8 0.8 0.9 1.0 1.1 1.3 1.4 1.5 1.6 1.6 1.5 1.6 1.8 2.0 0.4 0.4 0.6 0.6

0.7 0.9

1.1 1.1 1.1 1.2 1.2 1.1 1.2

1.3

1.2 1.2 1.5 1.6

1.9 2.2

2.5 2.6 2.7 2.8 2.7 2.7 3.1 3.3

'98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11

TV Others

USD bn

Source: AGB Nielsen

2012 targets & guidance 19

Mid-to-high single-digit revenue growth at True Group

High single-digit growth at True Mobile Group and TrueVisions

Mid single-digit growth at TrueOnline

Group CAPEX of Bt 23 bn

Strengthen our convergence platform:

Continue to expand service coverage

Launch more competitive convergence offerings

Develop innovative applications and content

Expand 2.1 GHz network to meet NBTC’s requirement and to match market demand

True Group provides unique investment opportunities

Thailand’s only quadruple-play operator with an unparalleled range of products and services

Convergence lifestyle platform strengthened by:

• 3G 850 MHz nationwide services

• Leadership of the premium smartphone market

• DOCSIS 3.0 (double-play) Broadband and pay TV

• Thailand’s largest and fastest WiFi network

• Exclusive content and applications for True Group customers

Market leadership in terms of technological and service innovation

20

3Q12 results

Financial highlights – 3Q12 22

1/ Before eliminating inter-company transactions; 2/ Revenue from telephone and other services excluding IC revenue and network rental revenue 3/ NIOGO: Net income (loss) from ongoing operations

(Units in millions of Baht unless otherwise indicated) TrueOnline1/ TrueMobile1/ TrueVisions1/Elim Consolidated

Total Revenue (excl IC & network rental) 7,400 9,814 2,723 17,888

% growth Q-o-Q 2.9% -5.5% 13.7% -0.8%

% growth Y-o-Y 2.7% 23.8% 7.0% 13.6%

Service Revenue 2/ 6,995 7,749 2,624 15,439

% growth Q-o-Q 2.5% 1.2% 10.6% 2.8%

% growth Y-o-Y 1.6% 12.7% 6.3% 7.2%

EBITDA 2,581 719 442 3,720

% growth Q-o-Q 9.3% -39.6% -15.4% -7.3%

% growth Y-o-Y -0.2% -41.2% -18.7% -13.5%

Interest expense (574) (895) (229) (1,653)

% growth Q-o-Q 4.3% 2.4% 0.2% 3.1%

% growth Y-o-Y -1.3% -3.5% -5.4% -2.8%

Tax, net (273) (194) (24) (426)

growth Q-o-Q (42) (169) 33 (132)

growth Y-o-Y 72 (147) (15) (170)

NIOGO 3/ 123 (2,276) (86) (2,160)

growth Q-o-Q 155 (447) (115) (408)

growth Y-o-Y (140) (728) (144) (902)

NIOGO excl. deferred tax 311 (2,053) (65) (1,794)

growth Q-o-Q 103 (506) (79) (437)

growth Y-o-Y (46) (822) (133) (972)

Free Cash Flow 577 (2,006) (696) (2,125)

growth Q-o-Q 677 (712) (1,049) (646)

growth Y-o-Y (1,403) (150) 111 (1,532)

Capex 3,240 1,090 619 4,903

growth Q-o-Q 2,427 (2,891) 114 583

growth Y-o-Y 2,664 (2,003) 328 876

Financial highlights – 9M12 23

1/ Before eliminating inter-company transactions; 2/ Revenue from telephone and other services excluding IC revenue and network rental revenue 3/ NIOGO: Net income (loss) from ongoing operations

(Units in millions of Baht unless otherwise indicated) TrueOnline1/ TrueMobile1/ TrueVisions1/ Consolidated

Total Revenue (excl IC & network rental) 21,997 30,928 7,600 54,416

% growth Y-o-Y 5.2% 28.3% 3.2% 15.8%

Service Revenue 2/ 20,817 22,872 7,464 45,456

% growth Y-o-Y 3.6% 13.1% 3.0% 7.0%

EBITDA 7,515 3,203 1,406 11,996

% growth Y-o-Y -3.1% -26.5% -19.4% -12.8%

Depreciation & amortization (4,662) (5,458) (899) (10,952)

% growth Y-o-Y 1.7% 24.0% 21.6% 13.8%

Interest expense (1,682) (2,610) (696) (4,842)

% growth Y-o-Y -1.1% -3.0% 0.1% -1.9%

Tax, net (797) (425) (55) (1,112)

Current tax (251) (69) (33) (352)

growth Y-o-Y (128) 45 (25) (108)

Deferred income tax (546) (357) (23) (760)

growth Y-o-Y 232 (741) (78) (797)

NIOGO 3/ 392 (5,335) (143) (4,947)

growth Y-o-Y (369) (1,401) (420) (2,005)

NIOGO excl. deferred tax 938 (4,979) (121) (4,187)

growth Y-o-Y (136) (2,142) (498) (2,802)

Free Cash Flow 151 (6,394) (476) (7,116)

growth Y-o-Y (2,801) (6,313) (248) (9,656)

Capex 5,393 7,287 1,799 14,477

growth Y-o-Y 3,114 2,629 1,224 6,947

6,463 7,566 5,691

7,226 6,233

4,974

-1,481

2007 2008 2009 2010 2011

Bt mn

4,900

3,022 -515 -307

4,357 3,203

9M11 9M12 Net IC +165 (845) (32) +181 (98) +79 (761)

30.6% 24.3% 27.7% 24.0% 15.1% 18.… 10.…

23,835 22,796 23,575 23,284 24,368

3,223 23,835 22,796 23,575 23,284 27,249

2007 2008 2009 2010 2011

Bt mn

Service revenue & market share

18,097 17,198

2,200 6,927

20,219

22,872

9M11 9M12

TrueMove H drives True Mobile Group revenue

Free cash flow

4,111 3,880 2,762

3,667 292

5,070 4,232

2,637 3,429

6,516

2007 2008 2009 2010 2011

Cash flow from operations Capex

Bt mn

15.7% 14.4% 15.0% 14.1% 14.8%

NIOGO

% TrueMobile revenue market share

14.9% 15.3%

(777)

(2,883)

(624) (1,314)

(4,811)

(2,836)

(4,979)

46

(3,244)

(1,411) (2,258)

(6,173)

(3,934)

(5,335)

2007 2008 2009 2010 2011 9M11 9M12

Bt mn

EBITDA & EBITDA margin

EBITDA margin TrueMobile EBITDA

3G, CDMA & others1

TrueMove

TrueMobile Group

4,577

894

4,658 7,287

9M11 9M12

TrueMove* 3G, CDMA & others* NIOGO NIOGO excl. deferred income tax

24

*Before intersegment elimination between TrueMove and 3G, CDMA & others

%FY08 %FY09 %FY10 %FY11 %YoY

Service revenue -4.4% +3.4% -1.2% +17.0% +13.1%

EBITDA -24.8% +27.0% -13.7% -20.2% -26.5%

787 805 949 900 999 336 362 569 1,123 2,747

1,367 1,512 1,616 1,511

1,568 2,490 2,679 3,134 3,534

5,314

2007 2008 2009 2010 2011

Messaging (SMS/MMS) Mobile Internet Content & RBT

Bt mn

TrueMobile’s non-voice revenue

Mobile Internet continues to drive non-voice growth

Non-voice growth continued to be impressive mainly due to rising mobile Internet usage which was driven by our most extensive 3G+ service coverage, attractive device-bundling packages and innovative applications and content

% of service revenue

25

10.4% 11.8% 13.3% 15.2% 19.5% 18.3% 27.4%

753 739 1,752

4,378 1,205

1,156 3,710

6,273

9M11 9M12

Net adds +4,502 +2,677 +1,044 +1,317 +1,822 +1,521 +1,404 (‘000)

23.2% 24.3% 24.6% 24.5% 25.0% 25.1% 25.6%

18,072

17,749

102 2,545

465

50 18,639

20,345

9M11 9M12

12,080 14,757 15,801 17,118 18,157

494 289

12,080 14,757 15,801

17,118 18,940

2007 2008 2009 2010 2011 2G 3G CDMA

‘000 subs

Attractive mobile packages support strong postpaid net adds True Mobile subscribers & market share

True Mobile postpaid revenue True Mobile prepaid revenue

% market share

4,338 4,225 4,725 4,829 6,993

5,225 5,892 532 705 1,082 1,503

2,980

1,992 3,728

4,870 4,930 5,807 6,332

9,973

7,218

9,620

2007 2008 2009 2010 2011 9M11 9M12

Bt mn

Voice Non-voice Voice Non-voice

26

14,530 13,232 13,143 12,164 12,105 9,060 8,845

1,958 1,974 2,052 2,030 2,334 1,718 2,545

16,488 15,206 15,195 14,194 14,439 10,777 11,390

2007 2008 2009 2010 2011 9M11 9M12

Bt mn

9%

91%

9M11

Postpaid

Prepaid 12%

88%

9M12

Prepaid vs. postpaid subscribers

3,841 5,812 7,250 6,973 7,043 5,291 5,200

9,235 9,998 10,573 11,532

13,021 9,598 10,711

11,452 10,179 8,564 7,538 6,812

5,198 4,906

24,528 25,989 26,387 26,043 26,876

20,087 20,817

2007 2008 2009 2010 2011 9M11 9M12

Convergence & others

Broadband & other Internet services

Bt mn

782 1,000

45 760

1,144 1,075 938

(158)

1,201

(101)

301 427 761

392

2007 2008 2009 2010 2011 9M11 9M12 NIOGO excl. deferred income tax NIOGO

Bt mn

TrueOnline grows on solid Broadband performance NIOGO

EBITDA & EBITDA margin Free cash flow

Service revenue

5,517 6,558

5,392 5,104 6,256

5,230 5,543

1,849 2,408 2,551 3,397 3,087

2,278

5,393

2007 2008 2009 2010 2011 9M11 9M12 Cash flow from operations Capex

Bt mn

9,670 10,195 9,804 9,751 9,973 7,756 7,515

38.8% 38.1% 36.4% 36.5% 35.5% 37.1% 34.2%

2007 2008 2009 2010 2011 9M11 9M12

EBITDA EBITDA margin

Bt mn

27

%FY08 %FY09 %FY10 %FY11 %YoY

Service revenue +6.0% +1.5% -1.3% +3.2% +3.6%

EBITDA +5.4% -3.8% -0.5% +2.3% -3.1%

86.9%

11.2% 1.9%

9M11

< 8 Mbps 8-10 Mbps > 10 Mbps

78.4%

16.8%

4.8%

9M12

549 927 1,026

1,175 1,335 1,301 1,521

728 701 707 720 716

2007 2008 2009 2010 2011 9M11 9M12

Bt/sub/mo

Broadband customer Blended ARPU

‘000 subs 7,300 8,117 8,531 9,262

10,659

7,854 9,176

2007 2008 2009 2010 2011 9M11 9M12

Bt mn

Success of ULTRA hi-speed packages drives Broadband growth Broadband revenue*

Nationwide Broadband market share (estimated as of 2Q12)

Broadband customers* & ARPU

* Broadband revenue and subscribers were reclassified and restated to include revenues from enterprise business in 1Q11

True 36.7%

TOT 32.7%

3BB 27.8%

Others 2.8%

By no. of subs

Super Hi-speed sub by speed*

*Connection speed for the standard package (Bt599/month) was upgraded from 7 Mbps to 10 Mbps in Oct.1,12

28

Source: Company

%FY08 %FY09 %FY10 %FY11 %YoY

Broadband revenue +11.2% +5.1% +8.6% +15.1% +16.8%

Broadband subscribers +68.8% +10.6% +14.6% +13.6% +16.9%

8,001 8,426 8,549 8,334 8,131

865 992 910 769 831 13 74 482 707 8,866 9,431 9,533

9,585 9,669

2007 2008 2009 2010 2011

Bt mn Bt mn

2,527 2,666 2,622 2,322 2,236 1,745

1,406

25.9% 26.1% 27.0% 23.7% 22.7% 23.7% 18.5%

24.8%

2007 2008 2009 2010 2011 9M11 9M12 EBITDA EBITDA margin w/o TVS extra item

Bt mn

Advertising, music entertainment support revenue growth NIOGO Service revenues

EBITDA & EBITDA margin Free cash flow

Note: 2009 includes the reversal of over-accrued content-related costs (Bt207mn)

Advertising Music entertainment & Others Subscription & installation

1,097 1,130 1,020

674

354 377

(121)

1,007 1,166

983

516 294 276

(143)

2007 2008 2009 2010 2011 9M11 9M12

NIOGO excl. deferred income tax NIOGO

Bt mn

911

1,494 1,520

552

2,078

348

1,323

660 614 232

681

1,430 575

1,799

2007 2008 2009 2010 2011 9M11 9M12

Cash flow from operations Capex

Bt mn

29

%FY08 %FY09 %FY10 %FY11 %YoY

Service revenue +6.4% +1.1% +0.5% +0.9% +3.0%

EBITDA +5.5% -1.7% -11.5% -3.7% -19.4%

6,144

5,876

632 964 474 624

7,250

7,464

9M11 9M12

Net adds +415 +431 +194 +42 (63) (27) +149 (‘000)

75 249 391 403 327 359 220 - 46

92 141 160 149 284 319

524 533 515 521 531 498

394

819 1,016 1,059 1,008 1,039 1,002

2007 2008 2009 2010 2011 9M11 9M12

Upsold Non-upsold (Free-to-air) Non-upsold (Free view)

‘000 subs

MPEG-4 and Partnership with PSI drive subscribers Bundled package subscribers &

upselling rate

* Upselling rate refers to the upgrading of mass market subscribers to higher-value packages

19.0% 30.4% 38.5% 38.0% 32.4% 34.6% 21.9%

% Upselling rate

481 479 459 455 430 439 428 149 320 470 475 396 429 330 319

527 536 520 526 536 504 90

143 199 256 290 274 529

1,039 1,469

1,663 1,705 1,642 1,678 1,791

2007 2008 2009 2010 2011 9M11 9M12

‘000 subs

Subscribers & ARPU 1,104 988 806 744 765 758 843 Bt/sub/mo

Blended ARPU Freeview Free-to-air Premium (Platinum, Gold, Silver) Standard (Knowledge)

30

%FY08 %FY09 %FY10 %FY11 %YoY

Total subscriber +41.4% +13.2% +2.5% -3.7% +6.7%

ARPU -10.5% -18.4% -7.7% +2.9% +11.1%