Active engagement with the investment community

Engaging the investment community, shareholders and other interested parties in active dialogue remains a top priority of our investor relations (IR) programme. The various stakeholders were provided with relevant and timely updates throughout the year, to facilitate them in maintaining an informed opinion of the Company.

In recognition of our continuous commitment towards improving corporate governance practices, M1 was presented with the Runner-Up position for the Most Transparent Company Award in the Services category at the Securities Investors Association (Singapore) 13^th Investors' Choice Awards 2012.

In 2012, we continued to publicly release quarterly, interim and full year results within one month of period end. All materials relating to the Company's results, including presentation slides, were made available immediately on our website, after posting with the Singapore Exchange (SGX). Analysts, investors and the media were invited to join our conference calls, which were accompanied by question and answer sessions with senior management, on the same day of every results announcement. Audio webcasts of these events were also made available on the M1 website.

Key developments in 2012 included the launch of M1's nationwide 4G service and the introduction of new mobile service plans with tiered data bundles – a significant development that was of interest to many analysts and investors. Being aware of the investment community's need for up-to-date information and transparency on the various developments throughout the year, the IR team sends press releases to these stakeholders promptly and adopts a pro-active approach in answering any related queries.

In continuing our two-way open communication, senior management remains directly accessible to analysts and investors, providing them with updates of the Company's developments and outlook through various avenues, such as one-on-one and group meetings, teleconferences, non-deal roadshows (NDRs) and investor conferences, both locally and abroad. These first-hand interactions involving senior management have been helpful in further developing our relationship with the investment community.

As at 25 February 2013, the free float¹ of M1 shares was 37.8%, with the majority shares held by institutional investors across Asia, UK and USA. With the objective of reaching out to current and potential institutional investors in these regions, we undertook NDRs in 2012 to Hong Kong, UK, and USA. Locally, we participated in four investor conferences, namely the Bank of America Merrill Lynch ASEAN Stars Conference, the BNP Paribas ASEAN Telco Day, the HSBC 2^nd Annual ASEAN Conference and the UBS Pan-Asian Telco Conference.

The IR team is an easily accessible channel for analysts, current and potential investors to raise any query or provide feedback with regard to the Company, and welcomes all email queries, which can be addressed to ir@m1.com.sg. We strive to always respond to all received queries in an effective and prompt manner. Shareholders and interested parties are also encouraged to access the M1 corporate website at www.m1.com.sg for the latest updates.

The Annual General Meeting (AGM) remains an important platform for shareholders to provide feedback about the Company to the Board and members of the senior management team directly. We continue to host our AGMs at a central and accessible location, to accommodate shareholders' convenience. All Board members and members of the senior management team make their best effort to attend each AGM to interact with shareholders. Our tenth AGM, held on 5 April 2012 at The Fullerton Hotel, was well attended by shareholders.

M1 is committed to creating long-term value for shareholders. This is demonstrated through our long-standing policy of maintaining a sustainable dividend payout ratio and returning excess cash to shareholders in the absence of value-enhancing opportunities. For FY2012, we announced a special dividend of 1.7 cents per share, in addition to the interim and final dividend of 6.6 cents and 6.3 cents per share respectively, bringing the total dividend declared to 14.6 cents per share. This represents a payout of 90% of our full year net profit after tax. With respect to total shareholder return (comprising capital gains and cash distributions received), M1's return to shareholders for 2012 was 14.2% on the amount invested at the start of the same year.

¹ Free float is defined as the percentage of total issued share capital of the Company held in the hands of the public (on the basis of information available to the Company)

Historical capital distributions

Year	Interim dividend (cents)	Final dividend (cents)	Special dividend (cents)	Other distributions (cents)2
2012	6.6	6.31	1.71	-
2011	6.6	7.9	-	-
2010	6.3	7.7	3.5	-
2009	6.2	7.2	-	-
2008	6.2	7.2	-	-
2007	2.5	8.3	-	4.6
2006	5.8	7.5	-	22.2
2005	5.0	8.1	12.2	-
2004	4.9	5.8	-	11.0
2003	3.9	5.5	-	-

Note: On per share and declared basis
¹ Subject to shareholders' approval at the AGM on 5 April 2013
² M1 undertook capital reduction exercises in 2004, 2006 and 2007

Financial calendar for 2013

Date	Event/Announcement
21 January 2013	Release of FY2012 full year results
5 April 2013	Annual General Meeting
25 April 2013	Payment of FY2012 final dividends
	(subject to shareholders' approval at the AGM)
April 20131	Release of FY2013 first quarter results
July 20131	Release of FY2013 half year results
August 20131	Payment of FY2013 interim dividends (if applicable)
October 20131	Release of FY2013 third quarter results

¹ Actual date will be released through M1's and SGX's websites, closer to the event/announcement