THAICOM Public Company Limited

Corporate Presentation March 2015 Agenda

• …Who We Are

• Financial Highlight

• Industry Outlook & Moving Forward

2 Who We Are

3 Our Company

• Thaicom Public Company Limited (formerly named Shin Satellite) was founded on 7th November 1991, part of Intouch Holdings Public Company Limited • His Majesty King Bhumibol Adulyadej of Thailand graciously named the first national communications satellite, “THAICOM” which stands for “Thai Communications”.

4 Shareholding Structure

Aspen Holdings Ltd. (Temasek Holdings) 41.62%

Intouch Holdings Plc 1),2) 40.45% 41.14% 52.92% 99.99%

I.T. Applications and Advanced Info Thaicom PLC 2) ITV Plc. Services Co., Ltd. Service Plc 2)

Satellite Services Telephone Services Abroad Internet and Media Services

IPSTAR Co., Ltd. 100.00% Shenington Investments Pte Ltd. 51.00% Cambodian DTV Network Ltd. 100.00% STAR Nucleus Co., Ltd 100.00% Lao Telecom Co., Ltd. 49.00% DTV Service Co., Ltd. 99.99% IPSTAR International Pte Ltd. 100.00%

CS LoxInfo Plc. 2) 42.07% IPSTAR Global Service Ltd. 100.00%

International Satellite Co., Ltd. 100.00% AD Venture Public Co., Ltd 99.99%

IPSTAR New Zealand Co., Ltd. 100.00% Teleinfo Media Plc. 99.99%

IPSTAR Japan Co., Ltd. 100.00%

IPSTAR Australia Pty Ltd. 100.00%

Orion Satellite Systems Pty Ltd. 100.00% 1) Holding Company 2) Listed Company on the Stock Exchange of Thailand TC Broadcasting co., Ltd. 99.99%

Spacecode Llc. 70.00%

5 * As of July 2014 Our Business Operations

Satellite: Revenue Contribution

Conventional Satellite Internet & Media Telephone 2% 11% Broadband Satellite

Telephone and Internet services:

Regional Mobile Phone FY2014

Media and services: Satellite 87% Platform Satellite TV

6 Our Satellite Fleet

De-orbited In-orbited Upcoming

THAICOM 1A THAICOM 7 Launched: 1993 (IPSTAR) De-orbited: 2010

Concession License

Launched 2005 2006 2014 2014 Target 1H’16 THAICOM 2 Launched: 1994 De-orbited: 2010 Type of Satellite Broadband Conventional Conventional 20.5% Fee 5.25% (Sep 2016 = 22.5% onwards)

Contract Life (Yr) 30 yr (2021) 20 yr (2032)

THAICOM 3 Satellite Life (Yr) 15 14 15 18 18 Launched: 1997 De-orbited: 2006 *Updated as of Feb 28,2015

7 Our Capacity

Largest Satellite Operator in Asia Pacific (7th Globally)

Satellite Operators' Bandwidth Capacity (Estimated)

3,439 (TPE) 2,819 2,539

2,175

Equivalent Equivalent

1,575 1,411

992 968 633 612

436 331 330 Estimated Capacity Estimated ViaSat EchoStar SES Thaicom Thaicom Telesat Yahsat JSAT ABS China /Hughes 2016 2014 SatCom Note: * Thaicom's capacity Y2014 includes THAICOM 4 , THAICOM 5, THAICOM 6 and THAICOM 7 satellites ** Thaicom's capacity Y2016 includes THAICOM 4 , THAICOM 5, THAICOM 6, THAICOM 7 and THAICOM 8 satellites *** Other satellite operators' capacities (estimated) are as of July 2014 **** TPE = 36MHz transponder equivalent

8 Our Satellite Footprints

Coverage Area 50.5E 78.5E 119.5E 120E TC4 TC5 TC6 TC7 TC8

TC5 (C,Ku) TC6 (C,Ku) TC8 (Ku) TC4 (Ku) TC4 TC5 TC6 TC7 TC8 TC7 (C) 119.5°E 78.5°E 78.5°E 120°E 78.5°E Conventional Satellite Capacity C Ku C Ku C Ku C Ku C Ku (TPE) Indochina - - - SEA ------South Asia ------111 North Asia ------40 Australasia ------2006 2016 Note: ME, ------1. TPE = 36 MHz transponder equivalents Total TPE 881 40 33 14 24 2. Current capacity (2015) of conventional satellites is 87 TPE. 3. TC8 capacity of 24 TPE is included in 2016. 9 Our Broadcast Services Asia’s “” for Satellite TV 16 Million viewers or

Covering More than 70% of total TV 120 HOUSEHOLDS COUNTRIES By Platform 702

Hosting* 702 (110 HD) SATELLITE TV CHANNELS 150 36

No.1 in Thailand and Indochina Terrestrial Satellite Cable

A key player in South Asia Source : Thaicom PLC, Value Partners, Casbaa

* As of Jan 2015 10 Our Broadband Services

The first and only High Throughput PRESENCE in Satellite (HTS) in Asia Pacific 13 COUNTRIES 17 GATEWAYS

5,000 small-cell 3G sites in Japan 90,000 broadband users in Australia and New Zealand 26,000 schools & 5,500 rural telephony project sites in Thailand 6,000 communities/villages/schools in Malaysia

11 Awards & Distinctions

Excellent CG Scoring 2014 Top 50 ASEAN CG Scorecard “Satellite Executive of the Year 2014” in the Asia-Pacific by the Asia-Pacific Satellite Communications Council (APSCC)

Rank #10 in Global Top Fixed Satellite Service Operators

“Best CEO Award” for Listed Companies 2014 by Investment Analysts Association (IAA)

Rank #3 in terms of Revenue per Satellite

12 Financial Highlights

13 Overall Performance THCOM share performance relative to Thailand SET % Growth 2008 –2015 % Revenue break up 2010 vs. 2014: Core satellite business contribution to revenue is increasing 40 THCOM 259.29% 1,900 35 Share price: 35.75 Baht 1,700 30 Market Cap: 39.18 Billion Baht 1,500

25 1,300 20 1,100 2014 Satellite Others* 15 900 10,004 700 87% 13% 10 SET 81.62% MB 5 SET Index: 1,531.04 500

- 300 2-Jan-08 2-Jan-09 2-Jan-10 2-Jan-11 2-Jan-12 2-Jan-13 2-Jan-14 2-Jan-15 As of closing 02 Jan 2008 SET Index 842.97 THCOM SET Index THCOM 9.95 Baht THCOM Share Performance:

Overview Share price*: 35.75 Baht Paid-up Shares: 1.096 billion shares Market Cap: 39.18 billion Baht 2010 Others* BV/share 15.41 Baht Satellite 5,858 PBV 2.32 Baht 22% 78% MB

* Share price as of 10 Mar 2015 * Excluding revenues from discontinued operation (Mfone)

14 Consolidated revenues contribution by country

Thailand 47% Australia 14% 2014 10,004 Other MB 12%

India 4% Lao PDR Others Myanmar Japan 11% oIndonesia 5% 7% oMalaysia oPhilippine oKorea oNew Zealand oCambodia oVietnam oSA&E (South Asia) oME&A (Middle East/Africa&Pacific)

15 15 Bottom Line Grew Significantly from Satellite Performance Consolidated Sale & Services Revenues Unit: MB 10,004

7,896 1,220 Revenue grew continuously 7,266 with strong cash flow. 6,624 5,858 948 1,017 5,767 994 (CAGR 2009-2014 = 10%) 1,269 1,289 8,784 6,948 5,630 6,249 4,498 4,569 other Satellite Revenue 2009 2010 2011 2012 2013 2014 Normalized Net profit and Normalized Net profit margin

4,000Unit: MB 18% 20% 14% Continuously improved in 15%Normalized Net Profit and 3,000 8% Normalized Net Profit margin. 1,832 ** 10% 2,000 1,128 231 5% (CAGR 2012-2014 = 50%)

1,000 * 0% 545 1,601 Normalized Net profit 1,128 371 -5% Normalized Net profit Margin - 174 -8% -8% 2009 2010 2011 2012 2013 2014 -10% (471) (490) * Excludes Impairment of M-fone and Watta total 371 MB (1,000) -14% ** Excludes Impairment of TMC of 231 MB -15% (806) 16 (2,000) -20% Strong Satellite Performances with Improving Margin

Satellite Revenues 8,784 Unit: MB 6,964 6,279 5,684 49% Y2014, Revenue Broadbrand 4,598 continuously grew with 51% Conventional 54% CAGR of 14% 51% 48% 51% 49% 52% 49% 46%

2010 2011 2012 2013 2014

Y2013, EBITDA Margin Satellite EBITDA dropped to 48% due to Unit: MB 53% cost of interim satellite

5,000 53% 4,657 60% 48% 4,500 47% Y2011, EBITDA improved Satellite4,000 EBITDA 50% 3,328 3,370 since revenue growth EBITDA3,500 Margin 34% 40%significantly from 3,000 2,644 2,500 30%broadband market 2,000 1,542 expansion in Australia and 1,500 20%Malaysia, together with 1,000 10%effective cost 500 0 0%management. 2010 2011 2012 2013 2014

17 Financial position remains strong

D/E Ratio at 0.63x 1 Strong cash from operation

Unit: MB Unit: MB

Equity Asset, 2 16,926 27,610 Consolidated CF 2013* 2014 CF from Operating 3,952 4,840 FY2014 CF from Investing (4,089) (5,872) Liabilities3 CF from Financing 225 1,440 3,393 Cash Beginning 2,057 2,152 Short-term Deposit (BE) 1,305 800 Interest bearing Cash Ending 4,687 3,365 debt Cash 4 * Restated 10,656 3,365

1. Interest-bearing Debt / Equity 2. Exclude Cash and Current Investment 3. Exclude Interest-Bearing Debt 4. Cash and Current Investment

18

Industry Outlook & Moving Forward

19 Broadcast Ultra HD TV demand seen surging Global Ultra HD via Satellite Channels by Scenario Ultra HD TV Average Selling Prices

Baseline 53% CAGR 2015-2025

Source: NPD DisplaySearch Ultra HD TV households by region (in Million): 2014-2025

 More channels  Lower TV set prices  More households  More bandwidth demand

20 20 Source: spacenews.com Broadband Exponential growth in Broadband Services

 More data consumption  More demand for mobility services Broadband  More subscribers Access  More HTS bandwidth demand

Enterprise Data Note: HTS = High Throughput Satellite Source: NSR

Mobility: In-Flight Entertainment and Connectivity (IFEC) Global IP Traffic by Application

Video traffic (79%)

Source: Euroconsult

21 21 Broadcast & Broadband Convergence A Multiscreen World: Any devices, Anytime and Anywhere

Asia Pacific surged ahead of the global average in terms of total screen time (439 vs. 417 minutes)

Source: MillwardBrown, AdReaction 2014

22 2015…Connecting the Future

Connecting

People Uniting strengths to create value and a future progress for all

Technology Moving beyond the boundaries of existing technology to create the technologies of the future Opportunity Pursuing new opportunities for future growth

23 Broadcast Platform

• Provide a neutral platform as an incubator for satellite TV operators • Promote a transition of satellite TV standard from SD to HD/UHD • Expand to other markets in AEC 24 24 Broadband Platform

• Strengthen Open Access Platform (OAP) strategy • Enhance next generation of broadband platform to support future requirements 25 25 In-Flight Entertainment & Connectivity (IFEC) Platform

• Strengthen Thai IFEC platform • Extend footprints to other markets

26 26 Fleet Expansion Develop the new chapter of THAICOM fleet

TC8 @78.5°E TC7 @120°E TC6 @78.5°E

TC5 @78.5°E

TC3 @78.5°E de-orbited

TC2 @78.5°E de-orbited TC1A TC4 @120°E de-orbited @119.5°E

3/13/2015 27 27 Appendix

28 Our Services: Broadcast

29 Conventional Satellite: THAICOM 5 and THAICOM 6 @78.5E

Asia’s “Hot Bird” for Satellite TV Platform

• Cover 120 countries in Asia, Australia, Africa & Europe • 702 TV channels (110 HD channels) • 16 million households in Thailand • No.1 in Thailand and Indochina countries • One of the key players in South Asia

and more…

30 Conventional Satellite Key Market Segments

31 THAICOM 8…Meeting future needs To double Ku-band capacity in 2016

78.5E Ku-band Thailand Beam Ku-band India Beam (steerable) Ku-band Africa Beam (steerable)

Conventional Satellite Capacity Manufacturer : Orbital Sciences Corp. (TPE*) C Ku Launcher : Space Exploration Technologies Corp. 111 Orbital Slot : 78.5E 87 Capacity : 24 Ku-band transponders 24 48 Lifetime : 18 years 63 63 Target Launch : mid 2016 (estimated) 2014 2016 Note: TPE = 36 MHz transponder equivalents

32 Our Services: Broadband

33 Broadband Satellite THAICOM 4 (IPSTAR) @119.5E

34 IPSTAR Key Market Segment

Telco Backhaul & Government/ Mobility USO* Program Enterprise “Emergency “Cellular Backhaul” “e-Government” Communications” “Rural Telephony” “Distance Learning” “Satcom-on-the- move” “Corporate “National Networks” Broadband “In-flight Network” Entertainment & (*Universal Service Obligation) Connectivity”

35 3/13/2015 35