TPG Telecom : 2016 AGM Presentation

2016‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

ANNUAL GENERAL MEETING PRESENTATION

7 DECEMBER 2016

FY16 SUMMARY RESULTS

Reported			Underlying1
FY16	FY15	Growth	FY16	FY15	Growth
Revenue	$m	2,387.8	1,270.6	88%	2,387.8	1,270.6	88%
EBITDA	$m	849.4	484.5	75%	775.3	485.3	60%
NPAT	$m	379.6	224.1	69%	361.0	247.0	46%
EPS	cps	45.3	28.2	61%	43.1	31.1	39%

1. Refer to slide 3 for reconciliation between reported and underlying results.

   2

   FY16 UNDERLYING EBITDA & NPAT

   FY16		FY15
   $m	EBITDA	NPAT	EBITDA	NPAT
   Reported	849.4	379.6	484.5	224.1
   Less: Gain on previously held interest in iiNet	(73.1)	(73.1)	-	-
   Less: Profit on sale of shares1	(17.6)	(12.3)	-	-
   Add: One-off iiNet acquisition transaction costs	10.3	10.3	0.8	0.8
   Add: Non-recurring iiNet re-organisation costs	6.3	4.4	-	-
   Add: Acquired customer base intangible amortisation	-	52.1	-	22.1
   Underlying	775.3	361.0	485.3	247.0

2. A further profit on sale of shares of ~$48m (pre-tax) will be recognised in the Group's reported FY17 EBITDA following the sale of all remaining Vocus shares in August and September 2016 at an average sale price of $8.00/share.

3. 3

   FY16 UNDERLYING EBITDA GROWTH

   $m
   FY15 Group underlying EBITDA	484.5
   iiNet EBITDA for 11.25 month post acquisition period	248.9
   TPG Consumer Division EBITDA growth	16.0
   TPG Corporate Division EBITDA growth	37.1
   Adverse accounting impact on TPG Corporate Division from iiNet consolidation	(10.1)
   Other	(1.1)
   FY16 Group underlying EBITDA	775.3

   4