Singapore Telecommunications (Z74) Status update summary

Strategic reset achievements

• Simplified operating structure and business portfolio, focusing on core growth areas.

• Established growth engines in ICT services and data centers, closing or selling loss-making units.

• Raised SGD 8 billion through asset recycling and attracted major investors like KKR.

• Retrained workforce to align with new strategic direction.

Singtel28 growth strategy

• Transitioning from transformation to growth, aiming to lift business performance and earnings.

• Focus on improving free cash flow and targeting medium-term return on capital in low double digits.

• Smart capital management by leveraging private capital for capital-intensive businesses like data centers.

Dividend policy update

• Revised dividend policy maintains 70%-90% payout of underlying net profits.

• Introduced a value realization dividend of SGD 0.03–0.06 per year, funded by asset recycling.

• This year's total ordinary dividend is SGD 0.15, a 52% increase from last year.

• Value realization dividend is now a recurring part of the policy, not a one-off.