FY2025 PERFORMANCE

GuIdE

26 February 2026



FY 2025: At a Glance

FY2025 Performance Guide

Steady Growth for FY2025

Revenue

RM1,792.8 mil

YTD +6%

Adjusted EBITDA

RM803.8 mil

YTD +10%

Adjusted PAT

RM488.3 mil

YTD +11%

CAPEX

RM361.3 mil

Free Cash Flow

RM430.3 mil

Cash Balance

RM475.9 mil

  • Revenue growth across all customer segments, led by Retail supported by network expansion, with premises passed exceeding 2 million

  • Profits continue to grow, supported by revenue growth and sustained operating margins

  • Strong balance sheet with healthy cash balances

Note:

Time



1) Free Cash Flow = Operating Cash Flow - Capex

3

Revised Dividend Policy

FY2025 Performance Guide

The Board is pleased to announce the following revised Dividend Policy

Annual Dividend Payout of 50% to 75%

of the Group's Normalised Profit After Tax and Minority Interests

Provided that such distribution will not be detrimental to the Group after taking into account its working capital needs, long term capital requirements, and overall financial position. The Group's Normalised Profit after Tax and Minority Interest is defined as the Group's consolidated Profit after Tax and Minority Interest adjusted for exceptional items.

The above is revised from its prior policy of an Annual Dividend Payout of up to 50% of its Normalised

Profit After Tax.

The approved Dividend Policy governs ordinary dividend payouts. Further special dividend payouts shall be considered based on excess cash and balance sheet optimisation aspirations.

Time

Dividend Declaration for FY2025

FY2025 Performance Guide

Resilient Earnings, Continued Balance Sheet Optimisation

Supported by the Group's solid profitability and healthy cash position, the

Board has declared further interim dividends for FY 2025

Annual Dividend Payout

RM320.2 mil

Interim Ordinary of 17.32 sen per share

Balance Sheet Optimisation Payout

RM179.9 mil

Interim Special of 9.73 sen per share

Time

Dividend Payout Timeline

Announcement Date:

26 February 2026

Entitlement Date:

13 March 2026

Payment Date:

25 March 2026



5

GROuP PERFORMANCE HIGHLIGHTS

Time



6

Q4 2025: Financial Highlights

FY2025 Performance Guide

Numbers are in RM' million

Revenue

QoQ +2%

464.8

453.7

Q3-25 Q4-25

YoY +8%

464.8

430.6

Q4-24 Q4-25

QoQ

YoY

Adjusted EBITDA

QoQ +6%

YoY +13%

203.0 215.2

191.1 215.2

Q3-25 Q4-25

Q4-24 Q4-25

QoQ

YoY

Adjusted Profit After Taxation (PAT)

QoQ +18%

YoY +17%

118.0 139.6

139.6

119.7

Q3-25 Q4-25

Q4-24 Q4-25

QoQ

YoY

QoQ

  • Revenue grew by 2%, mainly driven by higher data revenue from Wholesale and Retail.

  • Adjusted PAT grew by 18%, driven by revenue growth and year-end adjustments, including the reversal of provision of doubtful debts in line with improved collections, as well as the reversal of overprovision of expenses from prior periods, all totaling RM10.9 million.

    YoY

  • 8% increase in revenue attributed to higher data revenue from Retail and Wholesale.

  • Adjusted PAT grew by 17%, driven by overall revenue growth, sustained margins, year-end adjustments totaling RM10.9 million, and a higher share of profit from investments, partially offset by lower interest income due to reduced cash balance following dividend payouts.

Note:

  1. The share of profit from investments includes share of profits from associates (CMC Telecommunication Infrastructure Corporation and Symphony Communication Public Company Limited) and a jointly controlled entity (AIMS Data Centre Holding Sdn. Bhd)

    Time



  2. Q3 2025 adjusted PAT has been restated from prior disclosures to reflect prior year tax adjustments amounting to RM18.8 million as an adjustment item

    7

    FY2025: Financial Highlights

    FY2025 Performance Guide

    Numbers are in RM' million

    Revenue

    YTD +6%

    1,792.8

    1,690.2

    FY2024 FY2025

    YTD

    Adjusted EBITDA

    YTD +10%

    728.2 803.8

    FY2024 FY2025

    YTD

    Adjusted Profit After Taxation (PAT)

    YTD +11%

    488.3

    439.1

    FY2024 FY2025

    YTD

    YTD

    • 6% increase in revenue mainly attributed data revenue from all segments.

    • Adjusted PAT increased by 11%, driven by growth in overall revenue, sustained operating margins, and higher share of profits from investments, partially offset by lower interest income due to reduced cash balance.

Note:

1) The share of profit from investments includes share of profits from associates (CMC Telecommunication Infrastructure Corporation and Symphony Communication Public Company Limited) and a jointly controlled entity (AIMS Data Centre Holding Sdn. Bhd)

Time



8

Revenue Growth: By Product

FY2025 Performance Guide

Numbers are in RM' million

YTD +8%

1,454.1

% of Group Revenue:

88%

YoY +12%

QoQ +4%

1,573.5

388.1

396.3

367.9

378.3

410.8

DATA

Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 FY2024 FY2025

YoY -22%

QoQ -12%

YTD -10%

CLOUD & OTHER SOLUTIONS

50.4

37.8

45.5

44.6 39.4

Other Solutions Cloud

185.7

167.2

25.3

15.1

15.2

14.9

16.6

22.9

22.7

29.5

30.3

25.1

% of

Group Revenue:

Cloud:

Other

Solutions:

4%

6%

86.4

61.8

105.4

99.3

Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 FY2024 FY2025

YoY 0%

QoQ +3%

YTD -7%

VOICE

Time

  1. Note:

    11.2 11.0 10.9 10.8 11.2

    Q4-24 Q1-25 Q2-25 Q3-25 Q4-25

    47.0 43.9

    % of

    Group Revenue:

    2%

    FY2024 FY2025



    1. Other Solutions includes revenue from renewable energy (Solar and EV charging business).

      Revenue Growth: By Segment

      FY2025 Performance Guide

      Numbers are in RM' million

      YoY +13%

      QoQ +8%

      YTD +1%

      121.9

      122.2

      125.2

      127.2

      137.9

      508.9 512.5

      WHOLESALE

      Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 FY2024 FY2025

      YoY -2%

      QoQ -5%

      YTD +4%

      ENTERPRISE

      RETAIL

      Time

  2. Note:

    140.9

    133.6

    142.8

    144.8

    137.5

    Q4-24 Q1-25 Q2-25 Q3-25 Q4-25

    YoY +13%

    QoQ +4%

    177.6

    181.7

    167.8

    172.8

    189.4

    Q4-24 Q1-25 Q2-25 Q3-25 Q4-25

    536.6 558.8

    FY2024 FY2025

    YTD +12%

    721.5

    644.7

    FY2024 FY2025



    1. Retail includes revenue from renewable energy (Solar and EV charging business).

Consumer

FY2025 Performance Guide

Our continued coverage expansion has driven sustained subscriber growth while maintaining stable ARPU





11

Expenses: By Category

FY2025 Performance Guide

Numbers are in RM' million

Cost of Revenue (%)

68.3%

68.6%

68.2%

68.1%

66.8%

69.8%

67.9%

Total Cost (RM' million)

293.9 294.1 303.8 308.8 310.7

1,180.2 1,217.5

6.0

48.5

5.7

48.2

5.8

49.4

6.3

51.8

6.4

54.8

46.6

38.0

36.9

36.3

36.8

101.1

112.3

111.8

112.2

114.3

91.7

89.9

99.9

102.2

98.4

24.1

194.1

24.2

204.3

168.3

148.0

418.7

450.6

375.0

390.4

Finance expense

Depreciation & amortisation

Q4-24 Q1-25 Q2-25 Q3-25 Q4-25

FY2024 FY2025

Customer acquisition and related costs

OPEX excluding foreign exchange

Network and other related cost of sales

Time

12 Note:

Note: Lower cost of revenue (%) in Q4 2025 and FY2025 was driven by the reversal of overprovision of expenses from prior periods.



  1. The total cost excludes one-off adjustments and net foreign exchange loss/(gain)

Summary Income Statement

FY2025 Performance Guide

RM' million

Q4-24

Q3-25

Q4-25

QoQ%

YoY%

Revenue

430.6

453.7

464.8

+2%

+8%

EBITDA

171.6

169.3

169.0

-0%

-2%

EBITDA margin

40%

37%

36%

-1pps

-4pps

Adjusted EBITDA

191.1

203.0

215.2

+6%

+13%

Adįusted EBITDA margin

44%

45%

46%

+1pp

+2pps

Profit After Tax (PAT) N1

114.2

105.8

104.5

-1%

-8%

PAT margin

27%

23%

22%

-1pp

-5pps

Adjusted PAT

119.7

118.0

139.6

+18%

+17%

Adįusted PAT margin

28%

26%

30%

+4pps

+2pps

EPS

6.19 sen

5.74 sen

5.65 sen

-0.09 sen

-0.54 sen

Adjusted EPS

6.48 sen

6.40 sen

7.54 sen

+1.14 sen

+1.06 sen

FY2024

FY2025

YTD %

1,690.2

1,792.8

+6%

635.0

705.8

+11%

38%

39%

+1pps

728.2

803.8

+10%

43%

45%

+2pp

385.5

427.1

+11%

23%

24%

+1pps

439.1

488.3

+11%

26%

27%

+1pps

20.71 sen

23.16 sen

+2.45 sen

23.61 sen

26.46 sen

+2.85 sen

Note:

1) Q3 2025 adjusted PAT has been restated from prior disclosures to reflect prior year tax adjustments amounting to RM18.8 million as an adjustment item.

Time



13

Adjustment on EBITDA and PAT

FY2025 Performance Guide

RM' million

Q4-24

Q3-25

Q4-25

QoQ%

YoY%

EBITDA

171.6

169.3

169.0

-0%

-2%

Profit After Tax (PAT)

114.2

105.8

104.5

-1%

-8%

Adjustments:

Forex (gain) / loss

(37.5)

4.7

10.2

Construction deposit/PPE/Inventory

written off

5.7

6.4

3.1

Adįustments for investment in associate

-

-

32.9

Adįustments for submarine cable

44.9

22.6

-

AIMS transaction related one-offs

6.4

0.0

-

Adjustments on EBITDA

19.5

33.7

46.2

Adįustments for share of AIMS

(20.1)

-

-

Tax impact on adįustments

6.1

(2.7)

(11.1)

Adįustments for prior year tax N1

-

(18.8)

-

Adjustments on PAT

5.5

12.2

35.1

Adjusted EBITDA

191.1

203.0

215.2

+6%

+13%

Adjusted PAT

119.7

118.0

139.6

+18%

+17%

FY2024

FY2025

YoY%

635.0

705.8

+11%

385.5

427.1

+11%

33.5

31.2

8.4

11.3

-

32.9

44.9

22.6

6.4

0.0

93.2

98.0

(28.0)

-

(11.6)

(18.0)

-

(18.8)

53.6

61.2

728.2

803.8

+10%

439.1

488.3

+11%

Note:



  1. Q3 2025 adjusted PAT has been restated from prior disclosures to reflect prior year tax adjustments amounting to RM18.8 million as an adjustment item.

    Time

    14

    Capital Expenditure

    FY2025 Performance Guide

    Numbers are in RM' million

    Breakdown of Telco Assets



    Non-telco assets

    Capex Breakdown

    361.3

    324.8

    1.6

    0.9

    28.8

    FY2024

    FY2025

    Telco assets

    Cloud and other services

    281.2

42.0

331.6

Submarine-related Terrestrial-related

  • 96% of telco assets capex allocated to expand domestic and regional terrestrial network coverage

Time



15

Investee Performance

FY2025 Performance Guide

Numbers are in RM' million



FY 2025

Time's Shareholding

30.00%

45.27%

46.84%

Investee

Performance

Revenue

465.1

535.2

274.7

Profit/(Loss) After Tax and Other Comprehensive Income

53.7

37.8

21.7

Time's Share in

Proportion

to Its Interest

Share of Profit from

Investment

16.1

17.1

10.2

Total Share of Profit from Investments

43.4

AIMS: TIME participated in capital calls for its proportionate stake in AIMS of RM53.9m in FY25. Further investment contributions are expected in FY2026 to support AIMS' data centre expansion requirements.

Time



16



OuTLOOK & PRIORITIES

Time



17

Outlook and Priorities

FY2025 Performance Guide

Key Priorities

Commitment to continued growth

  1. Scaling our network coverage to enhance addressable market size and strengthen market share

  2. Actively assessing domestic and regional expansion opportunities

  3. Continue to drive operational excellence and cost discipline whilst maintaining financial discipline

  4. Leverage synergies to grow renewable energy businesses

Balance Sheet Optimisation

Alignment capital structure to strengthen financial discipline and returns focus towards supporting reliable shareholder returns

Sustainability - towards net zero ambitions by 2050

Continued advancement in embedding sustainability across operations and renewable energy initiatives

Time



18

ANY quESTIONS?

Time



19

APPENDIX

Time



20

Cash Flow Statement

FY2025 Performance Guide

RM' million

As at 31 Dec 2024

As at 31 Dec 2025

Net cash inflow from Operating Activities

628.8

793.0

Net cash used in Investing Activities

(244.5)

(386.5)

Net cash inflow from operating and investing activities

384.3

406.5

Net cash used in Financing Activities N1

(678.0)

(1,139.5)

Net increase/(decrease) in cash balance

(293.7)

(733.0)

Exchange effects on cash balance

(3.9)

(28.5)

Cash balance at beginning of period

1,535.0

1,237.4

Cash balance at end of period

1,237.4

475.9

Acquisition of capex

(291.2)

(362.7)

Free Cash Flow (Operating CF - Capex)

337.6

430.3

Note:

1) Included in financing activities are dividends paid out in YTD Dec 2024 (RM631.4 million) and YTD Dec 2025 (RM1,101.7 million)

Time



21

Balance Sheet & Ratios

FY2025 Performance Guide

RM' million

As at 31 Dec 2024

As at 31 Dec 2025

ASSETS

Non-current assets

3,380.8

3,553.6

Current assets (exclude cash)

419.8

343.3

Cash

1,237.4

475.9

Total assets

5,038.0

4,372.8

EQUITY AND LIABILITIES

Share capital

1,473.4

1,473.4

Reserves

2,425.8

1,738.1

Total equity attributable to owners of the Company

3,899.2

3,211.5

Non-controlling interest

32.9

30.4

Total equity

3,932.1

3,241.9

Non-current liabilities

625.1

585.7

Current liabilities

480.8

545.2

Total liabilities

1,105.9

1,130.9

Total equity and liabilities

5,038.0

4,372.8

As at 31 Dec 2024

As at 31 Dec 2025

Total Debt

3.8

2.9

Net Cash Position

1,233.5

473.0

Debt/EBITDA (times) N1

0.1x

0.1x

Debt/Equity (times)

0.0x

0.0x

Current ratio (times)

3.4x

1.5x

Time



22 Note:

1) Debt/EBITDA is based on post-MFRS16 basis which includes lease liabilities

THANK YOu

Time

Should you have any queries, please contact: investor.relations@time.com.my

23



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