SmarTone- Vodafone SmarTone-Vodafone SmarTone-Vodafone

2009 5 SmarTone- Vodafone SmarTone-Vodafone SmarTone-Vodafone

2 3 4 5 6 8 11 22 29 36 37 39 40 41 42 44 46 47

GSM/3G/ HSPA+ SmarTone-VodafoneSmarTone-Vodafone Vodafone Group Plc 1992 1996 2

MIMO (multiple-input, multiple-output) SmarTone-Vodafone HK Challenge SmarTone- Vodafone AYP 360,000 Android HTC Magic 1800 MHz 4G LTE 3G Yahoo! 3 2008/2009

* * * * * * ** ** ** ** ** Peter David Sullivan * ** Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda 10 22 183 17 1712-1716 Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre, 11 Bermudiana Road, Pembroke HM 08, Bermuda Conyers, Dill & Pearman John Charles Ross Collis Anthony Devon Whaley 378 31 4

6 30 6 30 2009 2008 3,703 4,073 42 276 ($) 0.08 0.48 ($) 0.08 0.48 4,504 4,843 (1,016) (1,070) 3,488 3,773 (805) (813) (34) (28) 2,649 2,932 54 57 2,595 2,875 2,649 2,932 845 1,012 37 79 (496) (534) (245) (280) (196) (64) (125) (839) (86) (45) (266) (671) 5 2008/2009

2009 6 30 9% $3,703,000,000EBITDA18% $891,000,000 85% $42,000,0007.6 8 5%16% 30% 2009 6 30 4% 1,164,00070% ARPU7% $220 2.0% SmarTone-Vodafone 3G/HSPA/HSPA+ SmarTone-VodafoneHTC MagicHTC MagicGoogle Android TM HTC MagicGoogle HTC Magic widgetssmartone-vodafone Android TM SmarTone-Vodafone SmarTone-VodafoneVodafone Netbook Vitesse1 1800 MHzLTE 2500/2600 MHz LTE 2009 6 1800 MHz 2 x 1.6 MHz 1800 MHzLTE LTE 6

IP2009LTE 2009 1 3G2010 2009 9 2 7 2008/2009

9% $3,703,000,000 2007/08 $4,073,000,000 5% 30% 18% $1,085,000,000 2007/08 $1,324,000,000 4% 18% $891,000,000 2007/08 $1,088,000,0004%66% $116,000,000 2007/08 $344,000,000 53% 85% $42,000,000 2007/08 $276,000,000 $370,000,000 9% $3,703,000,000 2007/08 $4,073,000,000 $178,000,000 5% $3,255,000,000 2007/08 $3,433,000,000 2008 ARPU7% $220 2007/08 $237 16% $192,000,000 30% $448,000,000 2007/08 $640,000,000 18% $1,085,000,000 2007/08 $1,324,000,000 30% $435,000,000 2007/08 $624,000,000 7% $650,000,000 2007/08 $700,000,000 4% $1,727,000,000 2007/08 $1,662,000,000 9% IP 9% 4% 2% $452,000,000 2007/08 $460,000,00018% $259,000,000 (2007/08 $219,000,00024 $245,000,000 (2007/08 $280,000,000) 2009 6 30 $196,000,000 (2008 6 30$211,000,000) $64,000,000 2007/08 $64,000,000 Vodafone Netbook Vitesse 8

53% $36,000,000 2007/08 $77,000,000 $84,000,000 (2007/08 $84,000,000) 13% $243,000,000 2007/ 08 $281,000,0008% 8%36% $77,000,000 2007/08 $121,000,000 2009 6 30 2009 6 30 $1,411,000,000 2008 6 30$1,677,000,000 2009 6 30 2009 6 30 $845,000,000 $37,000,000 2007/08 HTC Hero TM 2010 6 30 2009 6 30 $389,000,000 2008 6 30$333,000,000 HTC Magic TM 9 2008/2009

2009 6 30 $24,000,000 2008 6 30$16,000,000 2008 6 30 32 2009 6 30 $505,000,000 2008 6 30$454,000,000 1999 6 30 BlackBerry Storm TM 2009 6 30 1,861 2008 6 301,7902009 6 30 $449,000,000 2007/08 $430,000,000 2009 6 30 440,0002009 6 30 8,846,5002008 6 309,286,500 10

2009 6 30 20 2009 6 3039 2009 6 30 $0.08 2007/08 $0.202007/ 08 $0.28 $0.08 2007/08 $0.48 36 45 46 2009 6 30 $3,103,284,000 2008 6 30$3,405,944,000 $89,000 2007/08 $149,000 19 30 11 2008/2009

* ** ** ** ** * ** Peter David Sullivan * * * * 2008 7 15 * ** 110 A 110 111 2001 5 31 2001 7 17 6 2002 5 12002 5 15 6 3 12

2009 6 3012 29 35 2009 6 30XV XV7 8 352 2,237,767 1 2,237,767 2,237,767 0.42 3,000,000 2 3,000,000 0.56 1,103,500 2 1,103,500 0.21 1. XV 2. 13 2008/2009

(a) 75,000 1,100,600,695 1 1,100,675,695 1,100,675,695 42.92 165,904 165,904 165,904 0.01 1,000 1,000 1,000 0 7,000 2 7,000 7,000 0 18,000 3 4,000 4 22,000 22,000 0 1. XV 1,077,423,147 2. 3. 12.20% 4. (b) 1,742,500 1 1,742,500 1,742,500 0.08 100,000 100,000 100,000 0 1. XV 1,070,000 14

(c) Splendid Kai Limited 2,500 25 1,500 1 15 Hung Carom Company Limited 25 25 15 1 15 Tinyau Company Limited 1 50 1 1 50 8 80 4 1 40 1. XV 2009 6 3018 352 XV 2002 11 15 17 (a) (b) 15 2008/2009

(c) (d) (e) 10% 30%2009 9 2 55,179,134 10.26% 12 1% 1010 (f) (g) (h) $1.00 28 i 5 ii iii 2002 11 1510 16

2009 6 30 $ 2003 2 10 9.29 2003 2 10 3,000,000 1 3,000,000 2011 7 16 2003 2 10 9.20 2003 5 2 133,500 2 133,500 2012 5 1 2004 2 5 9.00 2005 2 5 970,000 3 970,000 2014 2 4 2004 2 5 9.00 2005 2 5 4,990,000 3 (440,000 ) 4,550,000 2014 2 4 2005 3 1 9.05 2006 3 1 193,000 4 193,000 2015 2 28 1. 5,000,000 202003 2 10402003 7 17 602004 7 17802005 7 17 2006 7 17 2. 200,000 2003 5 22004 5 2 2005 5 2 3. 2005 2 52006 2 5 2007 2 5 4. 2006 3 12007 3 1 2008 3 1 17 2008/2009

20082009 6 30 17 (a) (b) (c) (d) 12 20032004 6 30 2 2009 6 303365 Cellular 8 Holdings Limited ( Cellular 8 ) 1 330,638,472 61.48% 1&2 344,806,397 64.12% HSBC Trustee (C.I.) Limited ( HSBC ) 3 344,806,397 64.12% Marathon Asset Management LLP 59,464,349 11.05% Brandes Investment Partners, L.P. 35,479,430 6.59% 18

1. Celluar 8XVCelluar 8 330,638,472 2. TFS Development Company Limited14,167,925 Fourseas Investments Limited Fourseas Investments LimitedXV 3. XVHSBC HSBC HSBC 2009 6 30336 5 2009 6 30 35,378,500 2009 6 30 30 2009 6 30 19 2008/2009

9% 33% 30% 1. 34 (a) (b) 2009 6 30 $76,467,000 2009 6 30 $4,252,000 iii iii 2. 2009 6 30 20

2009 9 2 21 2008/2009

2009 6 30 14 A.4.13 2009 6 30 2008 7 15 2009 6 30 2 65 11 5 29 34 22

3 3 9 4 14 3 23 2008/2009

2009 6 304 4/4 4/4 4/4 3/4 3/4 4/4 3/4 4/4 4/4 2/4 2/4 4/4 Peter David Sullivan 4/4 24

2008 7 15 2009 6 30 2009 6 30 25 2008/2009

1999 2009 6 302 2/2 2/2 1/2 2/2 2009 8 21 2009 6 30 26

2009 6 30 1,826,000 447,000 2,273,000 2009 6 30 290 3738 2007 27 2008/2009

7 2009 1 1 20 2009 6 30 XIII XIV 10 2009 6 30 28

56 1992 41996 10 Cellular 8 Holdings LimitedCellular 8 XV Cellular 8 55 1992 19962001 49 1996 102002 3 1990 1994 121996 5 20 29 2008/2009

57 2001 10 19962010 1 1 2008 11 20 59 2003 3 2007 10 12007 7 25 2009 6 3 2006 1 1979 30

58 2005 715 Cable and Wireless plc.2003 12 1219942000 2000 2002Cable and WirelessCable and Wireless Ark Therapeutics plc.ark Therapeutics plc. Adecco SAAdecco SA 122008 12 18 62 2007 4 River Trade Terminal Co. Ltd. 1995 56 2008 7 31 2008/2009

56 GBS, OBE, J.P., LLD, DSocSc., B.A., FCPA (Practising), FCA, FCPA (Aust.), FCIS, 1996 10 2009 3 19 Strategic Global Investments plc. 60 1997 6 1011 2009 82005 82009 7 2007 12 19881997 19901998 19921996 19962004 199619981999 2001 2004 44 2003 12 2001 Carlyle Asia Partners 9 (MBA) 32

46 2005 12 4 3GEMOBILE Limited 2005 EMOBILE 2005 114 3G3,900EMOBILE 2007 3 3G Sachio SemmotoeAccess LimitedSachio Semmoto eaccess Limited EMOBILE Limited eaccess3 19992003 20032007eAccess eaccess 2004 (TSE1)TSE1 Japan Telecom ADSL(JDSL) American Online (AOL)eAccess eaccess NTT DoCoMo NTT 1990 Peter Sullivan 61 2008 4 Sullivan 1968 Sullivan 2004 9 2007 12 Sullivan Sullivan Sullivan JPMorgan Indian Investment Trust plc. Cenkos Securities plc. AXA Asia Pacific Holdings Limited Sullivan Intercontinental Bank (UK) plc.2009 8 29 33 2008/2009

(1) 3(2) (3) 2001 5 31 2001 7 17 2002 5 1 2002 5 15 2009 6 30 12 2009 6 30 XV13 15 34

20 CSL6 1995 1996 20 21 2001 Loughborough University 201992 35 2008/2009

2009 2008 2007 2006 2005 3,703 4,073 4,039 3,779 3,619 42 276 158 70 327 ($) 0.08 0.48 0.27 0.12 0.56 43 276 649 70 227 ($) 0.08 0.48 0.27 0.12 0.39 ($) 0.85 3,005 2,780 2,724 2,848 3,529 483 993 1,641 1,351 665 3,488 3,773 4,365 4,199 4,194 (805) (813) (827) (750) (704) (34) (28) (27) (23) (23) 2,649 2,932 3,511 3,426 3,467 54 57 58 58 58 2,595 2,875 3,453 3,368 3,409 2,649 2,932 3,511 3,426 3,467 2005 6 302005 6 30 1638 2 36

39 90 2009 6 30 198190 37 2008/2009

2009 6 30 2009 9 2 38

2009 6 30 2009 2008 $000 $000 3,255,036 3,432,943 448,155 640,479 6 3,703,191 4,073,422 (1,085,420) (1,324,071) 7 1,033 (725,884) (667,841) (449,374) (429,727) (245,013) (269,010) (161,404) (154,802) (145,822) (140,264) (775,799) (743,392) 115,508 344,315 8 35,627 76,603 9 (84,290) (83,598) 4,350 10 71,195 337,320 11 (9,549) (31,342) 61,646 305,978 42,456 275,755 19,190 30,223 61,646 305,978 16 7.6 47.8 7.6 47.8 17 161,042 43,019 114,572 43,019 275,614 47 90 39 2008/2009

2009 6 30 2009 2008 $000 $000 18 16,362 19 1,844,639 1,846,948 21 3 1,812 22 390,507 95,823 23 701,790 780,509 24 51,562 55,275 3,004,863 2,780,367 25 75,182 68,401 24 168,759 201,351 24 172,815 103,317 24 25,798 52,708 26 388,626 333,159 26 668,271 1,303,342 1,499,451 2,062,278 27 148,077 161,766 27 627,593 663,110 11 48,920 64,646 26,702 26,897 81,811 79,788 29 83,290 73,500 1,016,393 1,069,707 483,058 992,571 3,487,921 3,772,938 55,353 52,687 29 652,260 656,739 28 97,650 103,960 2,682,658 2,959,552 30 53,774 57,312 2,595,374 2,874,327 2,649,148 2,931,639 33,510 27,913 2,682,658 2,959,552 2009 9 2 2009 9 2 47 90 40

2009 6 30 2009 2008 $000 $000 20(a) 939,189 939,189 20(b) 3,455,962 3,455,962 24 156 214 24 218 1,669 26 336,105 328,832 26 1,471 1,682 3,793,912 3,788,359 20(c) 1,555,098 1,246,769 27 2,737 2,853 1,557,835 1,249,622 2,236,077 2,538,737 3,175,266 3,477,926 30 53,774 57,312 3,121,492 3,420,614 3,175,266 3,477,926 2009 9 2 2009 9 2 47 90 41 2008/2009

2009 6 30 2009 2008 $000 $000 71,195 337,320 19 448,804 450,388 317 23 323,422 283,654 3,256 9,350 (35,627) (76,603) 84,290 83,598 21 (1,033) (4,350) 21 3,792 1,367 894,066 1,089,095 (6,781) 6,665 (9,665) (74,789) (997) 14,778 876,623 1,035,749 (2) (31,585) (23,961) 845,038 1,011,786 (496,420) (533,857) (16,670) 583 705 29 (76,020) (65,895) 22(b) (314,045) (40,726) 22(a) 723 12,188 22(b) 31,340 23 (244,703) (280,238) 37,014 79,025 21 2,842 21 4,350 (1,102,346) (797,458) 42

2009 2008 $000 $000 (195,734) (64,249) 8,811 (57,189) (8,764) (110,985) (809,408) (13,593) (29,427) (377,501) (903,037) (634,809) (688,709) 1,303,342 1,992,060 (262) (9) 26 668,271 1,303,342 2009 2008 $000 $000 19 3,839 10,055 (3,256) (9,350) 583 705 47 90 43 2008/2009

2009 6 30 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 2007 7 1 58,018 270 17,899 2,954 2,349,294 15,705 713 1,065,691 3,510,544 27,117 3,537,661 8,402 8,402 8,402 1,763 1,763 1,763 58,018 270 26,301 2,954 2,349,294 15,705 2,476 1,065,691 3,520,709 27,117 3,547,826 275,755 275,755 30,223 305,978 2008 58,018 270 26,301 2,954 2,349,294 15,705 2,476 1,341,446 3,796,464 57,340 3,853,804 21 21 21 (804 ) 804 (63,445) (804 ) (64,249 ) (64,249 ) 98 10,642 (1,929 ) 8,811 8,811 2007 (3,113 ) (3,113 ) 2008 (26,314 ) (26,314 ) 2007 (648,366 ) (648,366 ) (648,366 ) 2008 (161,042 ) (161,042 ) (161,042 ) 2008 6 30 57,312 10,912 26,301 3,758 2,285,849 13,797 2,476 531,234 2,931,639 27,913 2,959,552 44

$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 2008 7 1 57,312 10,912 26,301 3,758 2,285,849 13,797 2,476 531,234 2,931,639 27,913 2,959,552 (18,119) (18,119 ) (18,119 ) (109 ) (109 ) (109 ) 57,312 10,912 8,182 3,758 2,285,849 13,797 2,367 531,234 2,913,411 27,913 2,941,324 42,456 42,456 19,190 61,646 2009 57,312 10,912 8,182 3,758 2,285,849 13,797 2,367 573,690 2,955,867 47,103 3,002,970 (3,538 ) 3,538 (192,196) (3,538 ) (195,734 ) (195,734 ) 2009 (13,593 ) (13,593 ) 2008 (110,985 ) (110,985 ) (110,985 ) 53,774 10,912 8,182 7,296 2,093,653 13,797 2,367 459,167 2,649,148 33,510 2,682,658 47 90 45 2008/2009

2009 6 30 $000 $000 $000 $000 $000 $000 2007 7 1 58,018 270 2,954 3,088,483 580,514 3,730,239 612,533 612,533 2008 58,018 270 2,954 3,088,483 1,193,047 4,342,772 (804) 804 (63,445) (804) (64,249) 98 10,642 (1,929) 8,811 2007 (648,366) (648,366) 2008 (161,042) (161,042) 2008 6 30 57,312 10,912 3,758 3,025,038 380,906 3,477,926 2008 7 1 57,312 10,912 3,758 3,025,038 380,906 3,477,926 4,059 4,059 2009 57,312 10,912 3,758 3,025,038 384,965 3,481,985 (3,538) 3,538 (192,196) (3,538) (195,734) 2008 (110,985) (110,985) 53,774 10,912 7,296 2,832,842 270,442 3,175,266 1981 47 90 46

2009 6 30 47 2008/2009 378 31 2009 9 2 4 2009 6 30 12 13 14 19 12 13 14 12 12 13 14 19

2009 6 30 2009 7 1 1 2 23 2 27 4 321 32 1 2 39 4 9 9 39 39 3 1 1 27 27 2 1 4 2 2 3 4 8 2 15 2 16 1 17 4 18 4 * 2009 7 1 5 2009 1 1 1 2008 10 1 2 2009 1 1 3 2009 6 1 4 2009 7 1 * 5 71 810161819 2023272829 3134363839 4041 48

1 1 2009 7 1 1 23 2009 7 1 23 27 2009 7 1 27 2 2010 7 1 2 8 8 14 2009 7 1 8 49 2008/2009

2009 6 30 6 30 20% 50% 50

(i) (ii) (iii) a. b. c. 51 2008/2009

2009 6 30 3(j) (i) 3GGSM PCS 15 3(p) (ii) 52

10%-50% 20%-33 1 / 3 % 20%-33 1 / 3 % 3(j) 10 50 53 2008/2009

2009 6 30 (i) 3(j) (ii) 54

(i) 12 3(m) (ii) 12 (iii) 12 55 2008/2009

2009 6 30 (iii) 3(m) 3 56

12 57 2008/2009

2009 6 30 (i) (ii) (iii) (iv) 58

(i) (ii) (iii) (iv) 59 2008/2009

2009 6 30 (1)(2) (3) 60

(i) 2009 6 30$667,897,000 2008 $961,970,000 94% 2008 89% 2009 6 30 1% $6,263,000 2008 $8,539,000 61 2008/2009

2009 6 30 (i) 2009 6 30100 $10,569,000 2008 $16,365,000 100 2009 6 3010% $3,623,000 (2008 $5,506,000) (ii) A 1545 (iii) 62

(iii) 1 12 25 5 $000 $000 $000 $000 $000 2009 6 30 148,077 148,077 627,593 627,593 86,144 96,268 405,347 642,162 1,229,921 861,814 96,268 405,347 642,162 2,005,591 2008 6 30 161,766 161,766 663,110 663,110 76,020 86,144 351,890 791,887 1,305,941 900,896 86,144 351,890 791,887 2,130,817 100% 63 2008/2009

2009 6 30 90% 2009 6 30 $000 $000 $000 $000 $000 3,485,805 243,027 (25,641) 3,703,191 38,283 77,225 115,508 35,627 (84,290) 4,350 71,195 (9,549) 61,646 16,670 16,670 413,204 37,116 450,320 243,102 1,601 244,703 423,447 25,357 448,804 317 317 321,711 1,711 323,422 3,093 163 3,256 11,739 608 12,347 (7,359) 77 (7,282) 3,957,625 156,179 390,510 4,504,314 (1,648,509) (26,577) (146,570) (1,821,656) 64

2008 6 30 $000 $000 $000 $000 $000 3,826,516 280,562 (33,656) 4,073,422 223,727 120,588 344,315 76,603 (83,598) 337,320 (31,342) 305,978 442,333 32,613 474,946 278,736 1,502 280,238 427,764 22,624 450,388 282,480 1,174 283,654 9,571 (221) 9,350 10,523 534 11,057 (1,676) 9 (1,667) 4,596,259 148,751 97,635 4,842,645 (1,682,619) (31,868) (168,606) (1,883,093) 65 2008/2009

2009 6 30 2009 2008 $000 $000 21 1,033 $1,033,000 2008 2009 2008 $000 $000 16,683 143 17,064 73,228 1,880 3,232 35,627 76,603 2009 2008 $000 $000 2,959 3,166 29 81,331 80,430 2 84,290 83,598 66

2009 2008 $000 $000 434,716 623,913 259,039 219,271 64,383 64,383 317 371,083 370,576 77,721 79,812 666,317 611,331 1,578 1,480 3,256 9,350 4,978 (1,815) * 14 25,148 22,441 * $1,449,000 2008 $2,292,000 16.5% 2008 16.5% (a) 2009 2008 $000 $000 8,088 43,138 9,294 14,549 (1,523) (692) 28 (6,310) (25,653) 9,549 31,342 67 2008/2009

(b) 2009 2008 $000 $000 71,195 337,320 16.5% 2008 16.5% 11,747 55,658 (7,407) (3,391) (5,287) 798 493 (6,910) (12,465) 3,726 623 (6,170) (31) (1,523) (692) 11,272 450 9,549 31,342 (c) 2009 2008 $000 $000 32,030 44,767 16,890 19,879 48,920 64,646 68

2009 2008 $000 $000 1,380 1,320 160 160 12,401 12,401 3,757 2,226 1,025 1,025 17,343 15,812 18,723 17,132 20082009 6 30 31 2009 2008 $0 $1,000,000 11 11 $4,500,001 $5,000,000 1 1 $11,000,001 $11,500,000 1 $12,500,001 $13,000,000 1 13 13 69 2008/2009

2009 2008 $000 $000 $000 $000 $000 $000 80 8,625 3,443 647 12,795 11,185 80 3,776 314 378 4,548 4,627 100 100 100 200 200 200 80 80 80 80 80 80 80 80 80 * 200 200 200 * 200 200 200 * 80 80 80 * 200 200 200 Peter David Sullivan* (1) 80 80 20 Thomas Siu Hon-wah (2) 80 80 (3) 80 1,540 12,401 3,757 1,025 18,723 17,132 2008 1,480 12,401 2,226 1,025 * (1) 2008 4 17 (2) 2008 7 15 (3) 2008 6 13 70

5 22008 2 1232008 3 2009 2008 $000 $000 8,924 9,108 683 515 711 705 10,318 10,328 3 31 32008 3 2009 2008 $2,000,001 $2,500,000 1 $2,500,001 $3,000,000 2 $3,000,001 $3,500,000 1 $4,000,001 $4,500,000 1 $4,500,001 $5,000,000 1 3 3 20082009 6 30 2000 12 5% $20,000 71 2008/2009

$4,059,000 2008 $612,533,000 $42,456,000 2008 $275,755,000 557,247,1182008 576,920,845 557,247,1182008 577,410,448 02008 489,603 2009 2008 $000 $000 02008 28 161,042 82008 20 43,019 114,572 43,019 275,614 2009 9 28 2010 6 30 10 50 72

$000 $000 $000 $000 $000 $000 $000 2007 6 30 201,985 4,550,531 564,944 60,362 277,447 5,655,269 (159,034) (3,132,181) (484,883) (47,126) (3,823,224) 42,951 1,418,350 80,061 13,236 277,447 1,832,045 2008 6 30 42,951 1,418,350 80,061 13,236 277,447 1,832,045 159 120 121 400 24,714 24,800 30,972 3,211 391,249 474,946 86 360,458 (7) (360,537) (101) (3,500) (59) (76) (6,319) (10,055) (20,984) (386,880) (38,180) (4,344) (450,388) 46,825 1,413,228 72,914 12,141 301,840 1,846,948 2008 6 30 200,246 4,812,989 579,568 57,896 301,840 5,952,539 (153,421) (3,399,761) (506,654) (45,755) (4,105,591) 46,825 1,413,228 72,914 12,141 301,840 1,846,948 46,825 1,413,228 72,914 12,141 301,840 1,846,948 6 4 3 1 14 18,791 7,253 23,019 39,055 17,933 344,269 450,320 462,130 (462,130) (138) (3,409) (17) (147) (128) (3,839) (22,133) (138) (383,523) (37,955) (5,055) (448,804) 43,351 7,119 1,511,445 74,000 24,873 183,851 1,844,639 201,286 7,257 5,203,818 612,842 73,954 183,851 6,283,008 (157,935) (138) (3,692,373) (538,842) (49,081) (4,438,369) 43,351 7,119 1,511,445 74,000 24,873 183,851 1,844,639 2009 6 30$46,735,000 2008 $124,626,000 73 2008/2009

(a) 2009 2008 $000 $000 939,189 939,189 2009 6 30 SmarTone (BVI) 1,000 100% Limited * 1 100,000,000 100% $1 SmarTone 3G 3G 2 100% Limited $1 SmarTone 2 $1 100% Communications Limited 100,000 72% 100 100% $9,200,000 * (b) 2009 2008 $000 $000 3,455,962 3,455,962 (c) 2009 2008 $000 $000 1,555,098 1,246,769 74

2009 2008 $000 $000 3 1,812 3 1,812 2009 2008 $000 $000 7 1 1,812 1,812 1,033 4,350 (2,842) (4,350) 6 30 3 1,812 2009 6 30 2009 6 30 New Top Finance Limited 375 37.5% 1 2009 2008 $000 $000 (a) 36,226 55,068 (b) 354,281 40,755 390,507 95,823 1 390,507 95,823 75 2008/2009

(a) 2009 2008 $000 $000 7 1 55,068 58,854 (723) (12,188) (18,119) 8,402 6 30 36,226 55,068 (b) 2009 2008 $000 $000 7 1 40,755 31,340 314,045 40,726 1,832 29 (31,340) (2,351) 6 30 354,281 40,755 A- (2008 A-) 20082009 6 30 2009 2008 $000 $000 31,340 (31,340) 76

$000 $000 $000 2007 6 30 327,482 789,102 1,116,584 (177,823) (154,836) (332,659) 149,659 634,266 783,925 2008 6 30 149,659 634,266 783,925 280,238 280,238 * (219,271) (64,383) (283,654) 210,626 569,883 780,509 2008 6 30 387,143 789,102 1,176,245 (176,517) (219,219) (395,736) 210,626 569,883 780,509 210,626 569,883 780,509 244,703 244,703 * (259,039) (64,383) (323,422) 196,290 505,500 701,790 440,554 789,102 1,229,656 (244,264) (283,602) (527,866) 196,290 505,500 701,790 * $10,166,000 2008 $7,898,000 77 2008/2009

2009 2008 2009 2008 $000 $000 $000 $000 181,574 212,878 (12,815) (11,527) 168,759 201,351 224,377 158,592 156 214 25,798 52,708 218 1,669 418,934 412,651 374 1,883 (51,562) (55,275) 367,372 357,376 374 1,883 2009 6 30$97,428,000 2008 $96,878,000 1545 2009 2008 $000 $000 30 146,988 171,408 31 60 14,075 21,499 61 90 4,312 5,339 90 3,384 3,105 168,759 201,351 2009 6 30 $12,347,000 2008 $11,057,000 78

2009 6 30 $28,653,000 2008 $42,933,000 2009 2008 $000 $000 30 20,957 34,489 31 60 4,312 5,339 60 3,384 3,105 28,653 42,933 2009 2008 $000 $000 7 1 11,527 13,005 12,347 11,057 (11,059) (12,535) 6 30 12,815 11,527 2009 6 30 $12,815,000 2008 $11,527,000 2009 2008 $000 $000 81,714 82,215 (6,532) (13,814) 75,182 68,401 2009 6 30 $74,112,000 2008 $64,594,000 $1,070,000 2008 $3,807,000 2009 6 30$7,282,000 2008 $1,667,000 79 2008/2009

2009 2008 2009 2008 $000 $000 $000 $000 388,626 333,159 335,105 328,832 138,624 145,342 1,471 1,682 529,647 1,158,000 668,271 1,303,342 1,471 1,682 1,056,897 1,636,501 337,576 330,514 1,052,148 1,632,166 337,576 330,514 2009 6 30 $297,363,0002008 $834,691,000 $251,554,000 2008 $226,244,0003G 33 2009 2008 2009 2008 $000 $000 $000 $000 148,077 161,766 627,593 663,110 2,737 2,853 775,670 824,876 2,737 2,853 2009 2008 $000 $000 30 101,227 93,400 31 60 30,081 49,912 61 90 3,103 10,855 90 13,666 7,599 148,077 161,766 80

16.5% 2008 16.5% 2009 2008 $000 $000 97,650 103,960 $000 2007 7 1 129,613 11(a) (25,653) 2008 6 30 103,960 2008 7 1 103,960 11(a) (6,310) 97,650 $57,192,000(2008 $66,651,000)$9,437,000 2008 $10,997,000 81 2008/2009

2009 2008 $000 $000 7 1 730,239 715,704 9 81,331 80,430 (76,020) (65,895) 6 30 735,550 730,239 (83,290) (73,500) 652,260 656,739 2009 2008 $000 $000 1 86,144 76,020 15 501,615 438,034 5 642,162 791,887 1,229,921 1,305,941 (494,371) (575,702) 735,550 730,239 1 83,290 73,500 15 360,327 314,005 5 291,933 342,734 735,550 730,239 82

$0.1 $000 2007 7 12008 6 302009 6 30 1,000,000,000 100,000 2007 7 1 580,178,928 58,018 (a) 979,000 98 (b) (8,042,000) (804) 2008 6 30 573,115,928 57,312 (c) (35,378,500) (3,538) 2009 6 30 537,737,428 53,774 (a) 2008 6 30979,000$8,811,000 $98,000 $8,713,000$1,929,000 (b) 2008 6 30 8,042,000 7,722,000 2008 6 30 $64,249,000 $000 2007 7 968,500 $9.20 $8.85 8,702 2007 10 1,090,000 $9.48 $9.06 10,091 2007 11 1,916,000 $9.34 $7.24 14,898 2007 12 202,000 $7.29 $7.29 1,473 2008 1 1,570,000 $7.22 $6.95 11,130 2008 3 260,000 $7.38 $7.37 1,917 2008 5 629,000 $8.00 $7.88 4,977 2008 6 1,406,500 $7.91 $7.82 11,061 8,042,000 64,249 83 2008/2009

2008 6 30 (c) 2009 6 30 35,378,5002009 6 30 $195,734,000 $000 2008 7 255,000 $7.67 $7.67 1,956 2008 8 80,000 $7.27 $7.27 581 2008 9 4,202,000 $7.00 $5.25 23,861 2008 10 14,122,000 $5.36 $4.65 71,282 2008 11 3,742,500 $6.27 $5.70 22,635 2008 12 6,172,500 $6.20 $5.62 36,405 2009 1 5,834,500 $6.05 $5.68 34,515 2009 3 720,000 $4.70 $4.44 3,322 2009 4 250,000 $4.79 $4.68 1,177 35,378,500 195,734 (a) 2009 2008 7 1 9,286,500 10,653,500 (979,000) (440,000) (388,000) 6 30 8,846,500 9,286,500 6 30 8,846,500 9,286,500 $9.00(2008 $9.00) 84

(b) 2009 2008 2003 2 10 2003 2 102011 7 16 $9.29 3,000,000 3,000,000 2003 2 10 2003 5 22012 5 1 $9.20 133,500 133,500 2004 2 5 2005 2 52014 2 4 $9.00 5,520,000 5,960,000 2005 3 1 2006 3 12015 2 28 $9.05 193,000 193,000 8,846,500 9,286,500 (c) 20082009 6 30 $0 2008 $21,000 (d) 2009 6 30 2008 6 30 $000 2007 8 31 117,000 $9.00 $9.81 1,053 2007 10 26 97,000 $9.00 $9.60 873 2007 10 30 100,000 $9.00 $9.55 900 2007 10 31 290,000 $9.00 $9.46 2,610 2007 11 1 175,000 $9.00 $9.45 1,575 2007 11 5 200,000 $9.00 $8.10 1,800 979,000 8,811 $9.00 85 2008/2009

2008 6 30 2009 4 272009 4 27 MPNP 2009 4 27 2009 4 27 2009 4 27 CPNP 106 36A LRAIC 2009 4 272009 6 30 $24,151,000 2009 4 272009 6 30 $15,916,000 2009 4 272009 6 30 2009 6 30 $24,151,000 $15,916,000 86

2009 6 30 2009 2008 $000 $000 94,529 292,933 41,446 1,821 3,550 543,867 420,126 640,217 758,055 2009 6 302008 2009 6 30 2009 2008 $000 $000 1 369,757 391,131 15 213,564 271,697 5 14,699 20,686 598,020 683,514 1 54,123 34,505 15 99,342 27,014 5 96,607 1,714 250,072 63,233 2009 6 302008 87 2008/2009

2008 6 30 2009 2008 2009 2008 $000 $000 $000 $000 3G 503,108 452,487 503,108 452,487 2,136 1,942 505,244 454,429 503,108 452,487 2008 10 223G 77 $70,249,000 $503,108,0005 1999 6 30 16 88

2009 6 30 Cellular 8 Holdings Limited 61.48%38.52% (a) 2009 2008 $000 $000 (i) 76,467 71,507 (ii) 4,252 3,681 (i) 2009 6 30 $76,467,000 2008 $71,507,000 (ii) 2009 6 30 $4,252,000 2008 $3,681,000 (b) 2008 6 30 (c) 2009 2008 $000 $000 27,661 26,140 (d) 2009 2008 $000 $000 24 878 381 24 5,836 5,674 27 105 98 27 864 1,875 89 2008/2009

2008 6 30 0.8MHz x 2 1800 MHz2009 7 3 1800 MHz1800 MHz 4G LTE Long Term Evolution $14,540,0002009 9 302011 9 29 $464,000 2011 9 302021 9 295% $4,640,000 2009 6 30 90