True Move

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True Move FY 2006 Bond Holders
Conference March 1, 2007
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Q406/FY2006 Agenda
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• Bill Harris
• Chief Financial Officer
• Key achievements
• Financial highlights summary
• Operational highlights
• Looking forward
• QA

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Key Achievements 2006

• Rebranding completed
• Convergence lifestyle strategy first steps taken
  
• Record subscriber growth
• Solid track record of market share gains
• US bond completed, freeing up significant cash
  flows to expand the business
• Interconnection agreements signed

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True Move financial highlights 4Q06
Q-o-Q
Y-o-Y
(Units in millions of Baht unless otherwise
indicated)
Service Revenue 6,350 11.7 26.9
EBITDA 1,574 39.1 13.9
EBITDA Margin 23.3 452 bps 235 bps
EBIT -506 287 539
Profit/Loss -2,217 1,456 2,004
Free Cash Flow -613 625 903
Capex 807 454 656
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True Move financial highlights FY06
Y-o-Y
(Units in millions of Baht unless otherwise
indicated)
Service Revenue 22,578 15.6
EBITDA 4,998 0.7
EBITDA Margin 20.9 197 bps
EBIT -1,088 664
Profit/Loss -4,001 2,361
Free Cash Flow -589 1,910
Capex 5,149 2,130
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True Move financial highlights
Service Revenue (Bt mn)

• Service revenue up 11.7 Q-on-Q 26.9 Y-on-Y and
  15.6 FY06 vs FY05
• EBITDA up 39 Q-on-Q and 13.9 Y-on-Y, up 0.7
  FY06 vs FY05 FY EBITDA margin fell to 20.9
• Regulatory cost increased slightly Q-on-Q, the
  impact of a revenue sharing rate increase was
  offset by a reduction in access charges

EBITDA (Bt mn)
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Continuous expansion of subscriber base True Move
net-adds 3.1 mil. subscribers
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True Move operational highlights
Net additions and subscribers (000s)

• Net adds in Q4 of 817,887, down Q-on-Q due to
  ending of key promotions
• Net adds for 2006 still a record 3.1 mn
• Almost 32 share of market net adds for FY2006
• Overall market share up to 19.3 15.1 a year
  ago
• ARPU down 6.5 Q-on-Q mainly from expanded
  subscriber base down 25.9 for the year (from Bt
  393 to Bt 292)

ARPU (Bt/mth)
(To be updated)
True Move - Subscriber Market share
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Growing True Move non-voice business
Non-voice revenues
Bt mn

• Non-voice services a major growth driver
• Contribution up to 9.6 of total service revenue
  in FY06 from 7.6 in FY05
• Major initiatives planned for FY07, targeting
  further growth

Non-voice subscribers
Including Bt 205 mn for underbooked amount in
the previous quarter
Non-voice revenue contributors
Traffic (GPRS)
Content (Color ring)
Messaging (SMS)
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True Move Network Coverage
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Outlook 2007

• Price competition less intense due to
  interconnection charges
• More emphasis on service excellence rather than
  price
• Capex similar to 2006
• Targeting one-third of market net adds
• Regulatory environment continues to evolve

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Q A
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Thank you
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Appendix
Slides () 1. Normalized True Move results
(consolidated) 14 2. True Move balance sheets
(consolidated) 15 3. True Move cash flow
statements (consolidated) 16
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1. Normalized True Move Results (Consolidated)
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2. True Move Balance sheets (Consolidated)
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3. True Move Cash flow statement (Consolidated)
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Safe Harbor Statement
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.
QA