Hutchison Telecommunications Australia : Update on Estimated Disposal Gain on the TPG Merger

Hutchison Telecommunications (Australia) Limited

ABN 15 003 677 227

Level 1, 177 Pacific Highway North Sydney, NSW 2060 Tel: (02) 9015 5088 Fax: (02) 9015 5034 www.hutchison.com.au

ASX Market Announcements

Australian Securities Exchange

Date: 6 August 2020

Subject: Update on Estimated Disposal Gain on the TPG Merger

Hutchison Telecommunications (Australia) Limited (ASX: HTA) (the Company or HTAL) refers to its ASX announcement dated 30 April 2020 advising an estimated disposal gain resulting from the merger between TPG Telecom Limited (TPG, previously Vodafone Hutchison Australia Limited) and TPG Corporation Limited (TPM). The merger was implemented on 13 July 2020 and the Company currently holds a 25.05% attributable interest in TPG.

On 6 August 2020, the Company's ultimate holding company, CK Hutchison Holdings Limited (CKHH, together with its subsidiaries, the CKHH Group), released its financial results for the half year ended 30 June 2020 which set out a HK$9.2 billion gain attributable to CKHH's shareholders arising from the dilution of its attributable interest in TPG from 43.93% to 22.01%.

As previously advised, the gain announced by CKHH in relation to the dilution of the CKHH Group's attributable interest in TPG will differ from the final gain to be recorded by the HTAL group. This is mainly attributable to differences in the carrying cost and reclassification adjustments amounts in relation to the CKHH Group and the HTAL group's attributable interests in TPG. The calculation of the final disposal gain to be recorded by the HTAL group is influenced by a number of factors currently under review and is expected to be determined on or about 26 August 2020 and will be advised to the market.

Shareholders and potential investors are reminded that the gain is non-cash and HTAL has no current plan to pay a dividend to shareholders out of the non-cash net gain.

Hutchison Telecommunications (Australia) Limited

ABN 15 003 677 227

Level 1, 177 Pacific Highway North Sydney, NSW 2060 Tel: (02) 9015 5088 Fax: (02) 9015 5034 www.hutchison.com.au

Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

Yours faithfully,

Naomi Dolmatoff

Company Secretary

AUTHORISED FOR RELEASE: By the Market Disclosure Committee

For further information, please contact the Company Secretary by email at investors@hutchison.com.auor by telephone on (02) 9015 5088.