Connected transactions

For details of the connected transactions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) that have been entered into by HKT or its subsidiaries, please refer to the sections headed “Connected Transactions” in the prospectus dated 16 November 2011 and “Continuing Connected Transactions” in the Combined Report of the Directors of the latest annual report jointly issued by the HKT Trust and HKT Limited.