THAICOM Public Company Limited

Corporate Presentation

March 2015

2

Agenda

• Thaicom…Who We Are

• Financial Highlight

• Industry Outlook & Moving Forward

3

Who We Are

4

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”.

5

Shareholding Structure

Aspen Holdings Ltd.

(Temasek Holdings)

41.62%

IPSTAR Global Service Ltd. 100.00%

Spacecode Llc. 70.00%

IPSTAR New Zealand Co., Ltd. 100.00%

1) Holding Company

2) Listed Company on the Stock Exchange of Thailand

* As of July 2014

IPSTAR Japan Co., Ltd. 100.00%

IPSTAR International Pte Ltd. 100.00%

STAR Nucleus Co., Ltd 100.00%

IPSTAR Co., Ltd. 100.00%

IPSTAR Australia Pty Ltd. 100.00%

TC Broadcasting co., Ltd. 99.99%

International Satellite Co., Ltd. 100.00%

Intouch Holdings Plc 1),2)

Advanced Info

Service Plc 2)

Thaicom PLC 2)

ITV Plc.

I.T. Applications and

Services Co., Ltd.

Satellite Services

Shenington Investments Pte Ltd. 51.00%

Lao Telecom Co., Ltd. 49.00% DTV Service Co., Ltd. 99.99%

CS LoxInfo Plc. 2) 42.07%

Cambodian DTV Network Ltd. 100.00%

AD Venture Public Co., Ltd 99.99%

Teleinfo Media Plc. 99.99%

Telephone Services Abroad Internet and Media Services

40.45%

Orion Satellite Systems Pty Ltd. 100.00%

41.14% 52.92% 99.99%

6

Our Business Operations

Broadband Satellite

Conventional Satellite

Regional Mobile Phone

Platform Satellite TV

Satellite:

Media and services:

Revenue Contribution

Satellite 87%

Telephone 11%

Internet & Media 2%

FY2014

Telephone and Internet services:

7

THAICOM 4

(IPSTAR)

Our Satellite Fleet

Concession License

Launched 2005 2006 2014 2014 Target 1H’16

Type of Satellite Broadband Conventional Conventional

Fee 20.5%

(Sep 2016 = 22.5% onwards) 5.25%

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

Satellite Life (Yr) 15 14 15 18 18

THAICOM 1A

Launched: 1993

De-orbited: 2010

THAICOM 2

Launched: 1994

De-orbited: 2010

THAICOM 3

Launched: 1997

De-orbited: 2006

THAICOM 5 THAICOM 6 THAICOM 7

Upcoming In-orbited De-orbited

*Updated as of Feb 28,2015

THAICOM 8

8

Our Capacity

3,439

2,819

2,539

2,175

1,575 1,411

992 968

633 612 436 331 330

ViaSat Eutelsat EchoStar/Hughes

Intelsat SES InmarSat Thaicom2016

Thaicom2014

Telesat Yahsat JSAT ABS ChinaSatCom

Satellite Operators' Bandwidth Capacity (Estimated)

Esti

mat

ed C

apac

ity

Equ

ival

ent

(TP

E)

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

Largest Satellite Operator in Asia Pacific (7th Globally)

9

Our Satellite Footprints

TC4 (Ku)

TC5 (C,Ku)

50.5E 78.5E 120E 119.5E Coverage Area

TC4

TC5

TC6 (C,Ku)

TC7 (C)

TC6

TC7

TC4 TC5 TC6 TC7 TC8

119.5°E 78.5°E 78.5°E 120°E 78.5°E

C Ku C Ku C Ku C Ku C Ku

Indochina - - -

SEA - - - - - - -

South Asia - - - - - -

North Asia - - - - - - - -

Australasia - - - - - - -

ME, Africa - - - - - - -

Total TPE 881 40 33 14 24

TC8 (Ku)

TC8

Note: 1. TPE = 36 MHz transponder equivalents 2. Current capacity (2015) of conventional satellites is 87 TPE. 3. TC8 capacity of 24 TPE is included in 2016.

40 111

2006 2016

Conventional Satellite Capacity (TPE)

10

Our Broadcast Services

Source : Thaicom PLC, Value Partners, Casbaa

Covering More than

120 COUNTRIES

Hosting*

702 (110 HD) SATELLITE TV CHANNELS

Asia’s “Hot Bird” for Satellite TV

No.1 in Thailand and Indochina

A key player in South Asia

16 Million viewers or

70% of total TV

HOUSEHOLDS

* As of Jan 2015

36

702

150

Terrestrial Satellite Cable

By Platform

11

Our Broadband Services

PRESENCE in 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

The first and only High Throughput

Satellite (HTS) in Asia Pacific

“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

Awards & Distinctions

“Best CEO Award” for Listed Companies 2014

by Investment Analysts Association (IAA)

Top 50 ASEAN CG Scorecard Excellent CG Scoring 2014

12

Rank #3 in terms of Revenue per Satellite

13

Financial Highlights

300

500

700

900

1,100

1,300

1,500

1,700

1,900

-

5

10

15

20

25

30

35

40

2-Jan-08 2-Jan-09 2-Jan-10 2-Jan-11 2-Jan-12 2-Jan-13 2-Jan-14 2-Jan-15

THCOM SET Index

Overall Performance THCOM share performance relative to Thailand SET % Growth 2008 –2015

THCOM Share Performance:

Overview

* Share price as of 10 Mar 2015

Core satellite business contribution to revenue is increasing

% Revenue break up 2010 vs. 2014:

Satellite 87%

Others* 13%

2014

10,004

MB

Share price*: 35.75 Baht

Paid-up Shares: 1.096 billion shares

Market Cap: 39.18 billion Baht

BV/share 15.41 Baht

PBV 2.32 Baht Satellite

78%

Others* 22%

2010

5,858 MB

* Excluding revenues from discontinued operation (Mfone)

SET 81.62% SET Index: 1,531.04

THCOM 259.29% Share price: 35.75 Baht

Market Cap: 39.18 Billion Baht

As of closing 02 Jan 2008

SET Index 842.97

THCOM 9.95 Baht

14

15

Others

15

oIndonesia

oMalaysia

oPhilippine

oKorea

oNew Zealand

oCambodia

oVietnam

oSA&E (South Asia)

oME&A (Middle East/Africa&Pacific)

Consolidated revenues contribution

by country

Thailand 47%

Australia 14%

Other 12%

Lao PDR 11% Japan

7%

Myanmar 5%

India 4%

2014

10,004 MB

16

174

1,128 1,601

371

231

(471)

(806)

(490)

545

1,128

1,832

-8%

-14%

-8%

8%

14%

18%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

(2,000)

(1,000)

-

1,000

2,000

3,000

4,000

2009 2010 2011 2012 2013 2014

4,498 4,569 5,630 6,249 6,948

8,784 1,269 1,289

994 1,017

948

1,220

5,767 5,858

6,624 7,266

7,896

10,004

2009 2010 2011 2012 2013 2014

other

Satellite Revenue

Consolidated Sale & Services Revenues Unit: MB

Bottom Line Grew Significantly from

Satellite Performance

Revenue grew continuously with strong cash flow.

Continuously improved in

Normalized Net Profit and Normalized Net Profit margin.

Normalized Net profit and Normalized Net profit margin Unit: MB

* Excludes Impairment of M-fone and Watta total 371 MB

** Excludes Impairment of TMC of 231 MB

(CAGR 2009-2014 = 10%)

(CAGR 2012-2014 = 50%)

Normalized Net profit Margin

Normalized Net profit

**

*

17

1,542

2,644

3,328 3,370

4,657

34%

47%

53% 48%

53%

0%

10%

20%

30%

40%

50%

60%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2010 2011 2012 2013 2014

Satellite EBITDA

EBITDA Margin

4,598

5,684 6,279

6,964

8,784

2010 2011 2012 2013 2014

Broadbrand

Conventional

Satellite Revenues Unit: MB

Satellite EBITDA Unit: MB

Strong Satellite Performances with

Improving Margin

Y2011, EBITDA improved

since revenue growth

significantly from

broadband market

expansion in Australia and

Malaysia, together with

effective cost

management.

Y2013, EBITDA Margin

dropped to 48% due to cost of interim satellite

48% 51%

54% 51%

51%

52% 49% 46% 49%

49% Y2014, Revenue

continuously grew with

CAGR of 14%

18

Financial position remains strong

Unit: MB

* Restated

Unit: MB

1. Interest-bearing Debt / Equity

2. Exclude Cash and Current Investment

3. Exclude Interest-Bearing Debt 4. Cash and Current Investment

D/E Ratio at 0.63x

Strong cash from operation

Consolidated CF 2013* 2014

CF from Operating 3,952 4,840

CF from Investing (4,089) (5,872)

CF from Financing 225 1,440

Cash Beginning 2,057 2,152

Short-term Deposit (BE) 1,305 800

Cash Ending 4,687 3,365

Asset, 27,610

Cash 3,365

Interest bearing

debt 10,656

Liabilities 3,393

Equity 16,926

2

4

3

FY2014

1

19

Industry Outlook &

Moving Forward

20

Broadcast Ultra HD TV demand seen surging

More channels

Lower TV set prices

More households

More bandwidth demand

Global Ultra HD via Satellite Channels by Scenario

Source: spacenews.com

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

Ultra HD TV Average Selling Prices

Baseline 53% CAGR 2015-2025

Source: NPD DisplaySearch

20

21

Broadband Exponential growth in Broadband Services

More data consumption

More demand for mobility

services

More subscribers

More HTS bandwidth demand

Mobility: In-Flight Entertainment and

Connectivity (IFEC)

Enterprise Data

Broadband

Access

Source: NSR

Global IP Traffic by Application

Video traffic (79%)

Note: HTS = High Throughput Satellite

Source: Euroconsult

21

22

A Multiscreen World: Any devices, Anytime and Anywhere

Broadcast & Broadband Convergence

Asia Pacific surged ahead of the

global average in terms of total

screen time (439 vs. 417 minutes)

Source: MillwardBrown, AdReaction 2014

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

Connecting

2015…Connecting the Future

23

24

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

25

Broadband Platform

• Strengthen Open Access Platform (OAP) strategy

• Enhance next generation of broadband platform to support future

requirements 25

26

In-Flight Entertainment & Connectivity

(IFEC) Platform

• Strengthen Thai IFEC platform

• Extend footprints to other markets

26

27

Fleet Expansion

TC2 @78.5°E de-orbited

TC3 @78.5°E de-orbited

TC6 @78.5°E

TC7 @120°E

TC1A @120°E de-orbited

TC4 @119.5°E

TC5 @78.5°E

TC8 @78.5°E

Develop the new chapter of THAICOM fleet

3/13/2015 27

28

Appendix

Our Services: Broadcast

29

30

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…

Conventional Satellite: THAICOM 5 and THAICOM 6 @78.5E

31

Conventional Satellite Key Market Segments

32

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

78.5E

Ku-band Thailand Beam

Manufacturer : Orbital Sciences Corp.

Launcher : Space Exploration Technologies Corp.

Orbital Slot : 78.5E

Capacity : 24 Ku-band transponders

Lifetime : 18 years

Target Launch : mid 2016 (estimated)

Ku-band India Beam (steerable) Ku-band Africa Beam (steerable)

63 63

24 48

2014 2016

Conventional Satellite Capacity (TPE*)

C Ku

87 111

Note: TPE = 36 MHz transponder equivalents

Our Services: Broadband

33

34

Broadband Satellite THAICOM 4 (IPSTAR) @119.5E

35

IPSTAR Key Market Segment

3/13/2015 35

Telco Backhaul & Enterprise

“Cellular Backhaul”

“Rural Telephony”

“Corporate Networks”

Government/ USO* Program

“e-Government”

“Distance Learning”

“National Broadband Network”

(*Universal Service Obligation)

Mobility

“Emergency Communications”

“Satcom-on-the-move”

“In-flight Entertainment &

Connectivity”