TWM — Interim / Quarterly Report 2025

Mar 13, 2026

台海大哥大 Taiwan Mobile

Taiwan Mobile Co., Ltd. 4Q25 Results Summary

Mar 13, 2026

---

2

Disclaimer

The information contained in this presentation, including all forward-looking information, is subject to change without notice, whether as a result of new information, future events or otherwise, and Taiwan Mobile Co., Ltd. (or hereafter the "Company") undertakes no obligation to update or revise the information contained in this presentation. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is the information intended to be a complete statement of the Company, markets or developments referred to in this presentation.

---

Business Overview

---

4

2025 Highlights

Solid Growth in Telco, Telco+ and New Telco+Tech Businesses

Consolidated EBITDA	Consolidated EBIT	Net Income
5G	Net Income	9-year High
Consolidated EBIT
14-year High	EPS $4.77
7-year High
---	---

---

Telco Core 5

Mobile - Growth Engine #1

Sustainable Growth Foundation

Smartphone ARPU

Mobile Service Revenue (non-bundle)

5G Penetration of Smartphone User Base

Monthly Fee Uplift from Renewals

NP-out for Overall Market (NP = Number Portability)

Postpaid Churn Rate

Record low 0.59% 4Q24 4Q25

---

Telco Core 6

Broadband - Growth Engine #2

4Q25 Broadband Revenue up 5% YoY

Double Play bundle plan offerings

Competitive Pricing for Broadband Add-ons (1Gbps)

Broadband Market Share

Cable Broadband Subscriber (TFNM+Double Play)

---

Telco+ - Growth Engine #3

Telco+

Revenue Up 26% YoY in 2025

Enterprise

Telecom Industrial Applications Cloud Services

Small and Medium Enterprises

Telecom Smart Dining Al voice reservation

---

8 Telco+Tech

New Telco+Tech - Growth Engine #4

Revenue Up 12% YoY in 2025

---

9

momo

Active Users

+3% YoY 2025

Revenue (NT$mn)

2024 2025

Take Rate

13.6% 2024 13.6% 2025

Emerging Growth Driver

mo-shop+ (3P)

Triple-Digit YoY Growth

3P GMV

*Note: Data represents full-year 2025

>3.4mn

3P SKUs

=40%

Merchant Penetration

~1.5x

ROAS

vs. other market players

*Note: ROAS=Return on Ad Spend

---

Financial Overview

---

Performance by Business

NT$bn	Revenue				EBITDA
	Telecom	momo	CATV	Total^{1}	Telecom	momo	CATV	Total^{1}
4Q25	25.39	31.67	1.48	56.79	9.00	1.49	0.77	11.40
% of total	45%	56%	3%	100%	79%	13%	7%	100%
4Q25 YoY	12%	-5%	1%	1%	12%	-16%	-2%	5%
2025	89.39	108.67	5.93	198.76	35.00	4.74	3.17	43.17
% of total	45%	55%	3%	100%	81%	11%	7%	100%
2025 YoY	5%	-3%	1%	0%	6%	-16%	0%	2%

1. The sum of each account of telecom, CATV and momo does not equal to the consolidated total number due to other revenue and inter company eliminations.

11

---

Results Summary

NT$bn	4Q25			2025
	Amount	QoQ	YoY	Amount	YoY
Revenues	56.79	23%	1%	198.76	0%
Cash Cost & Expense	(45.39)	27%	0%	(155.59)	-1%
Operating Income	6.01	17%	10%	21.45	6%
Non-op. Income (Exp.)	(0.42)	83%	-15%	(1.51)	110%
Pre-tax Income	5.59	14%	12%	19.94	2%
Net Income	3.88	8%	12%	14.44	4%
EPS (NT$)	1.28	8%	12%	4.77	4%
EBITDA	11.40	7%	5%	43.17	2%

12

---

Balance Sheet Analysis

NT$bn	4Q25	3Q25	4Q24
Total Assets	234.66	233.59	241.43
Current Assets	42.72	39.81	44.64
- Cash & Cash Equivalents	8.57	7.46	11.95
- Receivable & Contract Assets	21.89	20.40	20.09
- Inventories	8.63	7.66	8.83
- Other Current Assets	3.62	4.28	3.78
Non-current Assets	191.94	193.78	196.78
- Long-term Investment	12.47	11.58	12.93
- Property, Plant and Equipment	52.75	53.45	53.92
- Right-of-use Assets	13.10	13.45	11.19
- Concession	60.60	62.05	66.39
- Other Non-current & Contract Assets	53.02	53.26	52.35
	4Q25	3Q25	4Q24
---	---	---	---
Current Ratio	69%	64%	55%
Net Debt to Equity	79%	90%	86%
Net Debt to EBITDA (x)	1.73	1.88	1.89
ROE¹ (annualized)	15%	15%	15%

1. ROE = Accumulated Net Income (Annualized) / Average Shareholders' Equity
2. Including accumulated profits and other equity items.

NT$bn	4Q25	3Q25	4Q24
Liabilities	140.11	143.51	147.50
Current Liabilities	62.17	62.51	81.77
- ST Debts	21.70	24.47	41.70
- Accounts & Notes Payable	14.91	14.46	13.50
- Current Lease Liabilities	4.18	4.18	3.86
- Other Current Liabilities	21.37	19.39	22.72
Non-current Liabilities	77.94	81.00	65.73
- Long-term Borrowings	61.48	64.36	50.65
- Non-current Lease Liabilities	9.10	9.41	7.42
- Other Non-current Liabilities	7.37	7.24	7.65
Shareholders' Equity	94.55	90.09	93.93
---	---	---	---
Paid-in Capital	37.23	37.23	37.23
Capital Surplus	29.03	29.03	29.34
Legal Reserve	36.11	36.11	34.72
Treasury Shares	(29.72)	(29.72)	(29.72)
Non-controlling Interest	8.41	7.85	8.53
Retained Earnings & Others²	13.48	9.57	13.83

---

Cash Flow Analysis

NT$bn	4Q25	4Q24	2025	2024
Operating	10.32	8.89	37.50	36.05
Investing	(2.12)	(2.26)	(11.15)	(14.90)
Financing	(7.09)	(4.16)	(29.73)	(22.45)
NT$bn	4Q25	4Q24	2025	2024
---	---	---	---	---
Pre-IFRS 16 Operating^{1}	9.04	7.73	32.69	30.79
Cash CAPEX	(2.34)	(1.85)	(11.20)	(11.05)
Free Cash Flow	6.70	5.88	21.49	19.74

1. "Lease expenses" previously under operating activities was reclassified into financing cash flow and investing cash flow (to a lesser extent) in accordance with IFRS 16 in 2019.

14

---

Event Updates

---

2025 Earnings Distribution

On March 13, Taiwan Mobile's Board approved the proposal to distribute NT$14.52bn in cash dividends, translating to c.4.5% yield to shareholders.

Dividend per share increased by 7% YoY to NT$4.8 (over 100% payout ratio) on 3.025bn shares, excluding treasury shares held by 100%-owned subsidiaries.

16

---

17

2026 Guidance

• Consolidated revenue: up 5~7% YoY
• Telecom-related revenues: up 5~7% YoY
• Consolidated operating profit: up 1%~2% YoY
• Telecom operating profit: up 4~6% YoY
• Group capex: NT$8.24bn
• Telecom: NT$6.13bn
• Cable TV: NT$1.03bn
• momo & others: NT$1.08bn

Note: Please refer to material information announcement for full details.

---

Awards and ESG Recognitions

18

Tracking ahead

Achieved 17% renewable energy in 2025

4 awards

Video Experience 5G Video Experience 5G Voice App Experience Availability

Top 5% across all sectors

The highest “AAA” rating in the TIP Taiwan Sustainability Rating

The highest honor

Cultural Impact Award

Double accolades

Best Customer Service Team Best Customer Service AI System Application Team

18th time

Corporate Social Responsibility Award

3 year in a row

Best IT Employer

---

19

Key Message

Taiwan Mobile delivered a landmark year in 2025, achieving record-high EBITDA and solid growths across all key financial metrics.

For 2026, we are confident in achieving our guidance via three pillars:

• Reinforcing the Core: Driving growth through unique bundles, cross-selling, and superior network quality while maintaining cost discipline.
• Accelerating Telco+: Leveraging AI capabilities and strategic partnerships to capture expanding enterprise demand.
• Scaling Telco+Tech: Maximizing group synergies and our vast user base to scale new tech services.

---

白濁大哥大 Taiwan Mobile